Saylor’s Bitcoin Stance Echoes FTX-Style Transparency Debate

At the Bitcoin 2025 conference, MicroStrategy’s Michael Saylor made waves by rejecting the proof-of-reserves concept, a move that starkly contrasts with his usual pro-Bitcoin rhetoric. Saylor dismissed the industry’s push for transparency, specifically refusing to disclose on-chain addresses verifying MicroStrategy’s substantial BTC holdings. This stance has sparked comparisons to the FTX controversy, where lack of transparency played a key role. Saylor’s unexpected critique challenges a widely accepted practice in the crypto space, raising questions about corporate accountability and the balance between privacy and verification in blockchain ecosystems. The debate comes at a critical time as regulators and investors increasingly demand proof-of-reserves following high-profile exchange collapses.

Saylor Rejects Bitcoin Proof-of-Reserves Concept at Industry Conference

MicroStrategy’s Michael Saylor delivered a surprising critique of proof-of-reserves during his bitcoin 2025 conference appearance, challenging what he called "the industry’s favorite transparency meme." The executive dismissed calls for his company to publish on-chain addresses verifying its massive BTC holdings, marking a stark departure from his typical bullish rhetoric.

The moment came when Blockware Solutions analyst Mitchell Askew questioned whether MicroStrategy would adopt the practice popularized after the FTX and Mt. Gox collapses. Saylor’s blunt rebuttal highlighted growing tensions between institutional holders and transparency advocates in the cryptocurrency space.

Sam Bankman-Fried Could Be Released Four Years Early

Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in prison for his role in a fraud scheme involving the misappropriation of customer funds to his hedge fund, Alameda Research. The Bureau of Prisons estimates a potential early release date of December 14, 2044.

The case underscores the regulatory risks facing crypto executives who blur the lines between exchange operations and proprietary trading firms. FTX’s collapse erased billions in customer assets, creating lasting distrust in centralized crypto platforms.