What is proof-of-reserves? At its core, proof-of-reserves is a public demonstration that a custodian holds the assets it claims to hold on behalf of users, typically using cryptographic methods and onchain transparency.If every crypto exchange can publish a proof-of-reserves (PoR) report, why can withdrawals still be delayed or halted during a crisis?The truth is that proof-of-reserves is not a trust guarantee. It shows whether verifiable assets exist on a platform at a single point in time, but it does not confirm that the platform is solvent, liquid or governed by controls that prevent hidden risk.But even when executed properly, PoR…

Currently being briefed before the U.S. Supreme Court on the merits is a test of the federal statutory ban, with severe felony penalties, for any marijuana “user” who possess a firearm or even a single round of ammunition. 18 U.S.C. sec. 922(g)(3). The Supreme Court’s docket page is here. And here is the amicus brief I coauthored on behalf of the National Rifle Association, FPC Action Foundation, and Independence Institute (where I work). The lead author was NRA’s litigation director Joseph Greenlee. As always in a Greenlee brief, the originalist legal history is complete and impeccable. Below is the Summary…

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