Kraken releases September 2025 Proof of Reserves, continuing our commitment to trust through transparency

At Kraken, transparency isn’t a slogan – it’s a ￰0￱ latest Proof of Reserves (PoR) , attested as of September 30, 2025 , once again verifies that client assets held on our platform are backed 1:1 and ￰1￱ process covers major cryptoassets, including BTC, ETH, SOL, USDC, USDT, XRP and ￰2￱ don’t expect blind ￰3￱ don’t need ￰4￱ offer cryptographic ￰5￱ to PoR? Learn how it works in our beginner’s ￰6￱ our September 2025 report shows Our PoR captures a complete snapshot of client assets across all services – not just spot ￰7￱ includes margin accounts, futures holdings and staked assets , offering a full-spectrum look at customer exposure as of September 30, 2025: A quick refresher – what is Proof of Reserves?

Proof of Reserves is a cryptographic process that allows clients to verify — independently and privately — that their assets are included in a third-party accountancy firm’s snapshot of the platform’s ￰8￱ use a Merkle tree to combine individual balances into a single cryptographic ￰9￱ receive a personalized Merkle proof , which they can use to confirm inclusion without revealing personal ￰10￱ independent accountancy firm then confirms that Kraken’s onchain holdings exceed total client balances — effectively verifying full reserves without ￰11￱ Kraken’s PoR goes further While more exchanges are now offering “PoRs” in some form, not all of them offer the same level of rigor or transparency.

Here’s what sets ours apart: ￰12￱ account for liabilities, not just assets Some platforms show what they hold — but skip what they ￰13￱ include total client liabilities in every ￰14￱ less isn’t a full proof of reserves. 2. User-level verification Every client can verify their own inclusion using our open-source Merkle verification ￰15￱ isn’t just about trust – it’s about verification. 3. A decade of consistency We first pioneered PoR in 2014 — and we haven’t ￰16￱ conducts PoR regularly and methodically , not just during news ￰17￱ is vital. It’s not about promises.

It’s about proof – visible, cryptographic, third-party-verified proof. Kraken’s process is built to withstand scrutiny and empower users with information. What’s next – expanding scope We’re committed to publishing PoRs quarterly , alongside our financial disclosures, to ensure users have a regular window into platform solvency. We’re also actively working to expand the coverage of our PoRs to include more supported assets , giving a broader view of the reserves across our ￰18￱ the beginning, Kraken has stood for accountability, independence and crypto-first ￰19￱ believe transparency should be an industry norm, not an afterthought.

That’s why we’ll keep raising the ￰20￱ to verify your account? Visit our Proof of Reserves ￰21￱ in and self-verify balances