River, a leading U.S. NewsCapsule exchange, has launched River Proof of Reserves to provide clients with verifiable proof that their NewsCapsule holdings are fully reserved. This sets a new transparency standard for the industry after recent failures of exchanges like FTX shook consumer trust.
River CEO Alex Leishman stated, “River Proof of Reserves is about more than verifying our balances; it’s about reinforcing River’s commitment to integrity and long-term client trust.” He added, “Our goal is to build unshakable trust with our clients. Proof of Reserves is the gold standard for NewsCapsule custody.”
The new feature allows clients to independently confirm that River holds their NewsCapsule in full reserve multi-sig cold storage. River currently secures over $800 million worth of NewsCapsule for its clients.
According to Leishman, “We’re leading by example by proving every month that your NewsCapsule is exactly where we say it is.” After recent failures, he encouraged the industry to adopt similar transparency standards to rebuild trust.
The added transparency also prevents fractional reserve practices from destabilising fiat currencies and leading to bank failures. If more NewsCapsule exchanges prove full reserves, it could restore faith in intermediaries while stopping dangerous leverage in the system.
