PANews reported on May 3 that, according to market news, Cash App, the cryptocurrency platform owned by billionaire Jack Dorsey, has officially launched a Bitcoin reserve proof function, open to over 60 million users. This function allows users to independently verify that their Bitcoin holdings are fully backed at a 1:1 ratio, ensuring the authenticity and controllability of their assets.

Market observers believe this move is a key step for the crypto industry in terms of transparency, user trust, and self-hosting standards, laying an important foundation for the industry's long-term healthy development.