Proof of Reserves – DIGIT INFO

Bitget reserves top $1.44B, claims to be debt free

The cryptocurrency exchange claims its total proof-of-reserves ratio has reached 223% in its latest July report.

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an independent auditor.” Industry participants have said many crypto firms are not audited because the […]

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Binance Experiences Significant BTC, ETH, and Stablecoin Withdrawals Following CFTC Lawsuit

After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99 million were withdrawn over the […]

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Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply

According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. […]

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US accounting watchdog warns investors about proof-of-reserve reports

The warning was issued after crypto exchanges jumped into the trend of providing PoR reports to assure users after the FTX debacle.

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Argentina Mulls Inclusion of Proof-of-Solvency Requirements in Crypto Regulation

Regulators in Argentina are mulling the inclusion of stringent requirements in their next cryptocurrency regulatory framework. According to reports, institutions like the national securities regulator, the CNV, will be studying the inclusion of proof-of-solvency requirements for exchanges and custody institutions in Argentina, in the wake of the demise of leading cryptocurrency exchange FTX. Cryptocurrency Exchanges […]

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Experts Predict Future Regulation of Crypto Exchanges by 2025, With Split Opinion on Similarity to Traditional Finance

Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation does occur, 76% of Finder’s […]

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Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi

After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by […]

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Nic Carter dives into proof-of-reserves, ranks exchange attestations

Crypto trading platforms Kraken and BitMEX topped the proof-of-reserves score list, while Binance received a low score for being incomplete.

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What are proof-of-reserves audits, and how do they work?

Crypto custodians generate public attestations about their cryptocurrency holdings through proof-of-reserves audits to demonstrate their solvency to depositors.

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