BREAKDOWN: Sam Abbassi on Why Proof of Reserves Matters Now
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 28 December 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
The Hoseki CEO discusses one of the most important trends in crypto.
This episode is sponsored by Nexo.io, Circle and Kraken.
Today’s guest is Sam Abbassi, founder and CEO of Hoseki.
Find our guest on Twitter: @samabbassi
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Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet.
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Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses.
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Kraken, the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our holiday theme music is "Spike The Eggnog" by Two Dudes. Music behind our sponsors today is “Glasgow” by Falls. Image credit: Velishchuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:50.3 | It was weird when we first starting because I kept saying that we're a proof of reserves company, |
| 0:54.2 | but people didn't think that was very useful because, well, there aren't that many exchanges out there. |
| 0:59.2 | So what is your total address to the market? |
| 1:00.9 | But the thing I kept trying to communicate was that you as an individual are in the same category as a custodian, as an exchange, as an institution, |
| 1:07.0 | and you have a lot of the same needs as a bank. |
| 1:12.4 | Welcome back to the Breakdown with me, NLW. |
| 1:16.5 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:22.4 | The breakdown is sponsored by nexo.io, Circle, and Cracken, and produced and distributed by CoinDesk. |
| 1:32.0 | What's going on, guys? It is Wednesday, December 28th, and today I am speaking with Sam Abasi, |
| 1:37.2 | the CEO of Hoseki. Before we get into that, however, if you are enjoying the breakdown, |
| 1:41.8 | please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the |
| 1:47.3 | Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. |
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