Taiwanese exchanges update reserve proof: ACE provides auditor verification, BitAsset shows asset details

In November, all three major exchanges in Taiwan stated that FTX does not affect their operations. Maicoin was the first to publicly disclose its fiat and virtual asset balance sheets. On December 14th, ACE provided asset audit details endorsed by accountants. On December 16th, MaiCoin also disclosed its fiat and virtual asset balance sheets, each with varying levels of detail.

ACE Provides Accountant Audit Proof, Solely Verified by Lawyers

ACE stated that under the supervision of a third-party accountant, they have audited the amount of New Taiwan Dollars in the custody account and the assets in the virtual wallets. As of November 29, the trust balance was NT$173,815,535. The actual number of virtual assets was not disclosed, but the reserve exceeds 100% of what users hold.

ACE also mentioned the debt part, stating that the quantity of USDT held by the exchange is 106.18% of the debt subscription quantity.

Bitopro Presents Asset Details

Bitopro stated that due to the lengthy inspection process by a fair third-party unit, it will still take some time to complete.

They also provided asset details, showing user fiat funds at $10,986,908.59, with a should-have balance of $61,706,015.5 in user digital assets, actually holding a value of $66,643,612.96 in digital assets, with reserves also exceeding 100%.

Comparison of Three Exchanges

• Maicoin has the highest trust fiat amount, Bitopro ranks second in fiat reserves, and ACE has the least trust fiat amount.
• In terms of digital assets, Maicoin holds the highest amount, also exceeding reserves; Bitopro and ACE both exceed reserves, but ACE has not disclosed the scale of digital assets.
• Only ACE has disclosed the reserve scale of debt products, without specifying the amount, while Bitopro, which also has debt products, did not mention it.
• Currently, Taiwanese exchanges have not followed the trend of disclosing reserve addresses on the public chain or merkle tree reserve proofs, nor have they committed to regular disclosures.
• Only Maicoin publicly disclosed the losses caused by FTX.
• Currently, the Financial Supervisory Commission focuses on anti-money laundering for Taiwanese exchanges, with no explicit requirement for user asset segregation.

Review of Maicoin data: