Solvency Transparency](https://www.hoptrail.io/diligence-services) index, which measures the financial health of crypto exchanges**The data provides us with a look at how well capitalised exchanges are in a post-FTX world; the size, quality and stability of their assets; and how those venues are handling cold storage.
**To date, only 22 exchanges have disclosed information on their crypto-asset holdings. A further ten have stated their intention to publish details but have yet to do so.
Binance is yet to publish data on individual asset solvency ratios._
But in real terms, the percentage decline in total assets over the last six weeks is only 7.8%. That compares favourably against exchanges such as Crypto.com and Coinsquare, which lost 43% and 47.3% respectively in the same time period, based on assets held in disclosed wallets.
Crypto.com’s _****Crypto.com also moved around $380 million in ETH and almost $1 billion in ERC-20 tokens (including nearly $500 million in Shiba Inu) to a new wallet in mid-to-late March. These movements appear to have been made without any forewarning. The same issue appears true of Coinsquare too, which saw its BTC assets in disclosed wallets drop by over 70% on 28 March. Hoptrail’s tracing confirms around $83 million was moved on this day to a freshly created wallet. There does not seem to have been market communications on the transfers, and platforms collating data on PoA have not updated to account for the fund movement.In the past, certain venues have disclosed asset movements ahead of time. We suggest exchanges adopt regular forward warning on potential fund movements - particularly those in cold storage - to avoid speculation or sharp downward price movements. Want to find out more?**info@hoptrail.io or reach out to us here.
In next week’s PoA review, we take a look at the type and quality of assets held on exchanges._
ExchangesCold StorageProof of AssetsProof of