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Nic Carter dives into proof-of-reserves, ranks exchange attestations
30.12.2022
Crypto trading platforms Kraken and BitMEX topped the proof-of-reserves score list, while Binance received a low score for being incomplete
More Than $19 Billion in BTC, ETH, Stablecoins Left Exchanges Since the Onset of FTX’s Collapse
27.12.2022
For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms...
What are proof-of-reserves audits, and how do they work?
26.12.2022
Crypto custodians generate public attestations about their cryptocurrency holdings through proof-of-reserves audits to demonstrate their solvency to depositors
Report: SEC Heightens Probe Into Auditors Servicing Crypto Exchanges
23.12.2022
According to the U.S. Securities and Exchange Commission’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring proof-of-reserves (POR) more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter...
Binance addresses 7 instances of recent FUD in Chinese blog post
23.12.2022
Binance is fighting back against the tsunami of FUD it has faced in recent weeks
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web
16.12.2022
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following...
CryptoQuant verifies Binance's reserves, reports no ‘FTX-like’ behavior
16.12.2022
Binance has faced a FUD-storm this week but a new CryptoQuant audit has verified its proof of reserves
Only 1% of people can handle crypto self-custody right now: Binance CEO
15.12.2022
Changpeng Zhao’s comments come as billions of dollars of stablecoins continue to flow out of the Binance exchange
Binance US finally rolls out mobile payments service to US customers
14.12.2022
Binance’s US arm has rolled out a feature for US customers called "Pay" which was launched by its global parent to users outside the US in 2021
Amid Speculation and Rumors Surrounding Binance, Exchange Token BNB Suffers Losses From the Alleged FUD
13.12.2022
Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar...
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...
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...
Data From October Shows Gold Reserves Held by Central Banks Tapped the Highest Level in 47 Years
7.12.2022
Following the World Gold Council’s (WGC) third-quarter report that shows central banks purchased a record amount of gold, data released by the WGC shows that central banks are buying more gold during 2022’s fourth quarter. Statistics show that the gold held by the world’s central banks is at...
Bitcoin’s Third Largest Wallet Changed Hands, but Onchain Data Shows It’s Likely the Same Owner
4.12.2022
Last year and during the first half of 2022, speculators assumed the third-largest bitcoin address was a ‘mysterious whale,’ even though the wallet had shown strong characteristics of being a cryptocurrency exchange. The address known as “1P5ZED” has since been replaced...
Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits
2.12.2022
While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s) after dropping below...
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...
Bitcoin’s Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022’s Largest Reduction
29.11.2022
Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction. Estimates show the next difficulty retarget could drop anywhere between 6.13% and 10% lower. Presently, the difficulty change looks...
Binance CEO: Most Governments Understand Crypto Adoption Will Happen Regardless
27.11.2022
Binance CEO Changpeng Zhao (CZ) says that most governments know that crypto adoption will happen regardless of what they do. “It’s better to regulate the industry instead of trying to fight against it,” the Binance executive emphasized. Binance’s CEO on Crypto Regulation...
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...