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PROOF assures investors over diversification of assets

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On March 11, PROOF, the parent company of Moonbirds, the NFT project, issued a statement about Silicon Valley Bank. PROOF confirmed that it held cash in Silico…

PROOF assures investors over diversification of assets

On March 11, PROOF, the parent company of Moonbirds, the NFT project, issued a statement about Silicon Valley Bank. PROOF confirmed that it held cash in Silicon Valley Bank. Fortunately, PROOF has diversified its assets, including ETH, stable currency and legal currency – so it has no financial and operational problems.

PROOF: Confirmed to hold cash in Silicon Valley banks, but has diversified assets

Analysis based on this information:


PROOF, the parent company of the popular NFT project Moonbirds, has issued a statement on March 11, which confirms that it held cash in Silicon Valley Bank. However, the statement also confirmed that PROOF has diversified its assets, including ETH, stable currency, and legal currency, which means that it has no financial and operational problems.

NFTs or non-fungible tokens have recently taken the digital world by storm. Moonbirds is a unique NFT project that involves the creation of digital birds that are one-of-a-kind, with each bird having its own unique attributes and features. The birds are represented by NFTs, which are tokens that are blockchain-based and cannot be replicated. These birds can be traded and sold just like other cryptocurrencies.

Silicon Valley Bank is a well-known financial institution that caters to the needs of startups and innovative companies in various industries. While the statement did not mention the reason why PROOF held cash in Silicon Valley Bank, it is possible that the company used the bank’s services for various financial transactions.

The statement, however, assures investors that PROOF has taken steps to diversify its assets and holdings, which means that it is not entirely dependent on cash in Silicon Valley Bank. This move is strategic and prudent, as diversification reduces the risks involved in holding a single asset, such as cash.

Moreover, by holding assets such as ETH, stable currency, and legal currency, PROOF is prepared to weather any financial or operational challenges that may arise. These assets provide stability and liquidity to the company, which is necessary for its continued growth and development.

In conclusion, PROOF’s statement is a reassurance to investors that the company has taken the necessary steps to safeguard its financial and operational stability. By diversifying its assets, PROOF has reduced its vulnerability to risks and uncertainties while maintaining its position as a leader in the NFT industry. The message also highlights the growing importance of NFTs and the crypto industry in general, which has become an integral part of the digital economy.

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