Coinbase has launched a Proof of Reserves (PoR) for its cbBTC token, confirming that each cbBTC is backed 1:1 by Bitcoin. The exchange holds 26,627.34 BTC to support a cbBTC supply of 26,616.37 tokens across various networks.

Despite the PoR, users remain worried about liquidity issues and transaction delays on Solana. Notably, Justin Sun has raised questions regarding the transparency and centralization of cbBTC, hinting at its associated regulatory risks.