Prominent cryptocurrency exchanges Kraken, Coinbase and Gate.io became the first exchanges. Release Proof of reserves, including liabilities, as part of an audit.
After the demise of FTX, Binance CEO Changpeng Zhao suggested that all exchanges should offer Merkle Tree Proof of Reserve.
Even though Binance has started the move, it has not included its debt in its reserves.
Other exchanges with proof of reserves only
Binance did not include debt disclosure in its proposal. However, many exchanges agreed that providing full transparency is also necessary. Bitfinex also does not disclose debt in its Merkle tree proof of reserves.
MexcGlobal and ByBit have also not shared responsibility, but have said they will release evidence of their reserves soon.
Exchanges with full proof of reserves
Crypto.com and Huobi have already published their reserve proofs. The duo also announced that they are working on a debt report and will post that soon as well.
Meanwhile, OKX and Mexc Global are currently working on a full reserve disclosure.