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Binance's proof-of-reserves raises red flags: Report
11.12.2022
Corporate structure, Bitcoin liabilities and internal control quality are among the points of concern
Crypto.com Crypto Exchange Provides Proof of Reserves After Panic by Investors – Here’s What You Need to Know
10.12.2022
Crypto.com has become the latest cryptocurrency exchange to release its Proof of Reserves data from auditing firm Mazars Group, proving that its clients' assets are fully backed one-to-one.
According to a Friday blog post, auditing firm Mazars conducted the verification process, revealing that...
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group
10.12.2022
This week two cryptocurrency exchanges provided proof-of-reserves in order to highlight that the trading platforms are backing customer assets 1:1. Binance published its report on Dec. 7, 2022, and detailed the global auditor Mazars Group conducted the audit. On Dec. 9, 2022, the exchange...
Crypto.com releases proof of reserves, showing above 100% for BTC, ETH
9.12.2022
The new disclosure page allows skeptical users to self-verify that their assets are included in the report
Crypto.com Releases Proof-of-Reserves Data Showing Client Assets Are Fully Backed
9.12.2022
The examination was done by auditing firm Mazars
Binance’s Bitcoin Reserves Collateralization Ratio Sits at 101% According to Mazars Audit – This is What You Need to Know
8.12.2022
A report by auditing firm Mazars has revealed that Binance's bitcoin reserves have a 101% collateralization ratio, suggesting that the exchange has more than all of the BTC it needs to cover customer deposits.
In a recent report, Mazars claimed the world's largest cryptocurrency exchange has...
Crypto consumer protection, proof of reserves bills introduced into US Congress
7.12.2022
New York Democrat Ritchie Torres introduced the short bills, which are meant to supplement more comprehensive legislation, earlier this month with little fanfare
Today in Crypto: HashKey and SEBA Bank Join Hands, KuCoin Hires Mazars for Proof of Reserves, Bitget Launches PoR Page & User Self-audit Tool
5.12.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: HashKey and SEBA Bank Join Hands, KuCoin Hires Mazars for Proof of Reserves, Bitget Launches PoR Page...
Audit firm Mazars to verify KuCoin's Proof-of-Reserves
5.12.2022
Mazars, the former accounting firm for Donald Trump's companies, was hired recently to audit Binance's PoR
Bitget Shares Merkle Tree Proof of Reserves to Enhance Transparency Users’ Assets Safeguarded With at Least 1:1 Reserve Ratio
4.12.2022
Leading global cryptocurrency exchange, Bitget, announces today that it is launching its Proof of Reserves Page, which will demonstrate to users that we are a full-reserve exchange, as supported by its Proof of Reserves (“PoR”), using the cryptographic-audited Merkle tree method,...
Binance Hires Former Donald Trump Auditors For Proof of Reserves Effort
2.12.2022
Major crypto exchange Binance has appointed the accounting firm Mazars, which worked for former US President Donald Trump’s company, to assist with its Proof of Reserves (PoR) effort.
In order to help assure investors that its coins are covered by reserves, Binance decided to use Mazars to verify...
Proof-of-Reserves Are at ‘Best Incomplete, at Worst Misleading and Deceptive’ Says Crypto Analyst Martin Hiesboeck
2.12.2022
While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not...
Binance proof-of-reserves is 'pointless without liabilities': Kraken CEO
26.11.2022
According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets
Binance Publishes Its Proof-of-Reserves System for Bitcoin Holdings, Additional Assets Coming Soon
25.11.2022
On Nov. 25, the largest cryptocurrency exchange in terms of daily trade volume, Binance, published its bitcoin proof-of-reserves (POR) system using The Merkle approach. At the time of writing, the snapshot provided by Binance shows the firm’s onchain reserves equate to 582,485 bitcoin, while...
Binance publishes official Merkle Tree-based proof-of-reserves
25.11.2022
Two weeks after its initial pledge for Merkle Tree-backed proof of funds, Binance releases its official response to liquidity transparency
CrossTower eyeing further crypto acquisitions outside of Voyager bid
24.11.2022
CrossTower’s president said they would place extra emphasis on highly transparent and compliance-focused companies in light of the FTX collapse
OKX releases Proof of Reserves page, along with instructions on how to self-audit its reserves
23.11.2022
The page includes a “view OKX reserves” option that provides reserve ratios for BTC, ETH, and USDT at a glance
Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’
23.11.2022
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed...
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC
23.11.2022
Bitcoin moved back above $16,000 on Nov. 23, as markets continued to react to the news that Coinbase holds 2 million bitcoin worth $39.9 billion. Centralized exchanges continue to face scrutiny following the collapse of FTX, with many moving to showcase their proof of reserves. Ethereum was also...
Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’
22.11.2022
According to Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the company holds 2 million bitcoin worth $39.9 billion. The news Armstrong shared comes at a time when the general public is looking directly at exchange balances following FTX’s turbulent collapse. Coinbase Co-Founder Shares...