Reference
Explained
How the machinery actually works, and what is verifiable about the people running it. Every page here answers a question in the words a reader would ask it, states the limits of its own evidence, and is updated as the facts change rather than replaced. Written by TheCoinrise; the mechanism is the subject, not the news.
- 3stories in this section
- 15 Aug 2026most recent
- Labelledpaid placements carry a disclosure
What this section covers
Market plumbing
Funding rates, open interest, liquidation cascades and the basis trade - the machinery underneath the price, explained with the arithmetic rather than around it.
Market NewsCustody and reserves
What a proof-of-reserves attestation proves, what an audit covers, and what self-reported means. The questions that decide whether a balance on a screen is money you have.
Blockchain NewsRules and registrations
What MiCA requires, what a money services business registration is not, and what the Howey test actually asks. Registration is routinely read as approval; it is not.
Finance and Business NewsWhere our coverage sits
Editorial stories by section, counted live from this site. Paid placements are excluded - they are not reporting, and the masthead carries their number.
Latest reporting
A trust charter is not a bank charter with deposit insurance. Here is what the OCC's letter says World Liberty Trust Company can and cannot do, and what it left unresolved.
KPMG gave an unqualified opinion on one entity's books as of one date. Six months later, Tether's own attestation showed the buffer had fallen by 40%.
August 15, 2026
What a proof-of-reserves attestation actually proves
It shows an exchange or issuer controlled certain assets on a certain date. It does not show the entity can cover what it owes, that its reserves are free of legal claims, or that it would survive a run.
The basics, in plain English
What does a proof-of-reserves attestation prove?
That an entity controlled certain assets on a certain date. Not that it can meet what it owes, not that the reserves are free of legal claims, and not that it would survive a wave of withdrawals. Those are three separate questions and most attestations answer only the first.
Why does every page have a limits section?
Because there is always a limit - the number is self-reported, the audit covered one date, the data source changed methodology. Leaving that out makes a page look more authoritative and makes it worse. It is the most useful paragraph we publish.
How is this different from the news sections?
News tells you what happened. These pages tell you how the thing works, so the next time it happens you do not need us to explain it again. They are written to still be right in a year.
Do these pages get updated?
The ones tied to moving facts do - reserves, registrations, filings - on a set cycle. A page about how a funding rate works does not need revisiting; a page about what is verifiable about an exchange does.
