At Kraken, transparency isn’t a slogan – it’s a normal. Our newest Proof of Reserves (PoR)attested as of December 31, 2025as soon as once more verifies that shopper belongings held on our platform are backed 1:1 and past. The method covers main cryptoassets, together with BTC, ETH, SOL, USDC, USDT, XRP and ADA.
We don’t count on blind belief. We don’t want it. We provide cryptographic proof.
New to PoR? Be taught the way it works in our newbie’s information.
What our December 2025 report reveals
Our PoR captures an entire snapshot of shopper belongings throughout all providers – not simply spot balances. It contains margin accounts, futures holdings and staked belongingsproviding a full-spectrum have a look at buyer publicity as of December 31, 2025:
A fast refresher – what’s Proof of Reserves?
Proof of Reserves is a cryptographic course of that permits shoppers to confirm — independently and privately — that their belongings are included in a third-party accountancy agency’s snapshot of the platform’s liabilities.
We use a Merkle tree to mix particular person balances right into a single cryptographic hash. Shoppers obtain a personalised Merkle proofwhich they will use to verify inclusion with out revealing private particulars. The unbiased accountancy agency then confirms that Kraken’s onchain holdings exceed complete shopper balances — successfully verifying full reserves with out assumptions.
Why Kraken’s PoR goes additional
Whereas extra exchanges are actually providing “PoRs” in some kind, not all of them supply the identical degree of rigor or transparency. Right here’s what units ours aside:
1. We account for liabilities, not simply belongings
Some platforms present what they maintain — however skip what they owe. We embrace complete shopper liabilities in each PoR. Something much less isn’t a full proof of reserves.
2. Consumer-level verification
Each shopper can confirm their very own inclusion utilizing our open-source Merkle verification device. This isn’t nearly belief – it’s about verification.
3. A decade of consistency
We first pioneered PoR in 2014 — and we haven’t stopped. Kraken conducts PoR usually and methodicallynot simply throughout information cycles.
PoR is significant. It’s not about guarantees. It’s about proof – seen, cryptographic, third-party-verified proof. Kraken’s course of is constructed to resist scrutiny and empower customers with info.
What’s subsequent – increasing scope
We’re dedicated to publishing PoRs quarterlyalongside our monetary disclosures, to make sure customers have an everyday window into platform solvency. We’re additionally actively working to develop the protection of our PoRs to incorporate extra supported belongingsgiving a broader view of the reserves throughout our ecosystem.
Because the starting, Kraken has stood for accountability, independence and crypto-first values. We imagine transparency needs to be an trade norm, not an afterthought. That’s why we’ll preserve elevating the bar.
Able to confirm your account? Go to our Proof of Reserves portal.
