Proof of Reserves是特别好的通过zk验证资产储备的方案，Binance目前的PoR证明就是基于zk且可验证的，但也仍然有一些项目在使用外部审计的中心化披露方案。
稳定币发行商、RWA资产托管，都应该推行这种方式，而不是单纯靠一个纸质报告。
没有什么比透明度和可验证更加重要，当然第三方审计是必要的，PoR则是一套依靠密码学的链上独立验证，能在不暴露用户隐私的情况下证明储备的完整性。而且Succinct现在能系统的提供这种服务，技术已经非常成熟。

Primus Labs is working with Succinct to bring institutions an easy-to-use Proof of Reserves platform.
By pairing zkTLS for authenticated off-chain data with SP1 for verifiable computation, CEXs, stablecoin issuers, & custodians can verify reserves with cryptographic certainty. x.com/primus_labs/st…

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Proof of Reserves (PoR) is an excellent solution for verifying asset reserves using ZooKeeper. Binance's current PoR is based on ZooKeeper and is verifiable. However, some projects still use centralized disclosure schemes with external audits.

Stablecoin issuers and RWA asset custodians should adopt this approach instead of relying solely on paper reports.

Nothing is more important than transparency and verifiability. While third-party audits are necessary, PoR is a cryptographic, on-chain, independent verification method that can prove the integrity of reserves without exposing user privacy. Furthermore, Succinct can now systematically provide this service, and the technology is very mature.

In the crypto world, what truly determines victory is never code, but the interplay between liquidity, power, and regulation. The rise and fall of BUSD is not merely a tragic tale of a stablecoin, but a financial war waged by exchanges attempting to "unify the world."

When BUSD was thrust onto the historical stage, it carried not only a compliance narrative, but also Binance's ambition to reshape the stablecoin order through coercive measures—by manipulating exchange rates and merging trading pairs, directly swallowing competitors' liquidity into its own ledger.

The "automatic conversion" of 2022 was a textbook example of a blitzkrieg; and 2023...

The Rise and Fall of Binance's Dominance: From BUSD's "Unification" to $U's "Conquering the World"—The Stablecoin Wars

Source: Galaxy Research; Translation: Jinse Finance xz
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakthrough after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged margin calls, and massive...

Galaxy: 26 Predictions for the Crypto Market in 2026

According to ME News, on December 20th (UTC+8), Sean Farrell, Head of Crypto Strategy at Tom Lee's Fundstrat, stated in his "2026 Crypto Outlook" report, "While I believe Bitcoin and the overall crypto market still have strong long-term upside potential, and liquidity-driven support is expected to emerge in 2026, we may still need to digest some risks in the first/second quarter of 2026, which could present more attractive entry points."