How we estimate all-chain reserves (proof-of-reserves)

Reserves are the current on-chain balance of stablecoins and major assets held by wallets we attribute to an operator, summed across every chain we map and priced in USD. It is an all-chain, best-effort proof-of-reserves estimate.

Coverage varies: we can only sum wallets we have mapped, so the true figure may be higher, and some balances belong to processors rather than the operator. The withdrawal-coverage ratio (reserves ÷ 7-day outflow) is a descriptive liquidity indicator, not a solvency rating. None of this is a statement that any operator is or is not solvent.

More methodology

See the data these methods produce in the daily report or the live dashboard.

Methodology & disclaimer. Figures are derived from on-chain transfers attributed to wallets we associate with each operator, plus third-party ratings shown with their source. Blockchain attribution carries inherent uncertainty, and reserves are an all-chain best-effort estimate from mapped wallets — coverage varies by operator. These pages describe observed activity and third-party data only; they are not a statement on any operator's solvency, legality, fairness, or safety, and nothing here is financial advice. See how we attribute on-chain activity. Data updates roughly every 30 minutes.