According to @jessepollak, the proof of reserves for cbBTC on the Base platform is now live, providing transparency and trust for traders using the platform. This implementation allows traders to verify the backing of cbBTC, potentially influencing trading decisions and enhancing security in their transactions.

According to @justinsuntron, the president's choice to use Wrapped Bitcoin (WBTC) for BTC reserves instead of Coinbase or CBBTC is a strategic move to ensure asset security. The reliance on Coinbase's lack of Proof of Reserves (PoR) could lead to risks of asset freezing or confiscation, highlighting the importance of maintaining control over one's own keys in cryptocurrency trading.

According to Justin Sun, all major cryptocurrency exchanges have implemented Proof of Reserves (PoR), making it perplexing that Coinbase claims PoR is not feasible. He pointed out that Binance has a complete PoR available for review. Sun emphasized that the community does not expect Coinbase to provide a perfect solution immediately, but at least to make some progress in this direction.