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River Financial has announced the launch of its Proof of Reserves, a system designed to verify that all Bitcoin on their platform is accounted for. This move aims to enhance transparency and accountability within the financial industry, addressing concerns that have arisen from past scandals such as FTX. Leishman, a key figure in the announcement, described Proof of Reserves as the new gold standard. The initiative is expected to set a new standard in the industry, with River leading the way in promoting trust without requiring customers to take the company's word for it. Industry experts and Bitcoin advocates have praised this development, emphasizing the importance of transparency and accountability in financial institutions, aligning with the Bitcoin ethos.
