Did the Big Four accounting firms collectively withdraw from the crypto world? When 'Proof of Reserve' becomes worthless, only on-chain transparency can save your life!
The trust tower in the cryptocurrency world has just collapsed in part! Due to excessive regulatory pressure and uncontrollable reputational risks, the last global accounting firm willing to provide audit services for cryptocurrency exchanges, one of the 'Big Four', announced this morning the indefinite termination of all PoR (Proof of Reserves) services. The market instantly fell into panic, and the balance sheets of CEX turned back into a black box that no one dared to trust. Rumors abound, with some saying that a leading exchange misappropriated user assets to cover RWA losses, and others claiming that a certain platform's cold wallet is actually empty. In this darkest moment of 'trust vacuum', funds began to flee wildly, seeking places that do not require auditor signatures, only code validation. Meanwhile, the 'Real-time On-chain Auditing' mechanism of USDD 2.0 has become the only safe coordinate for funds on this chaotic night.