Tether is also looking to become more transparent, having hired a new accounting firm to conduct regular audit and attestation reports to ensure its stablecoin is properly backed by the USD.
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Category: audit
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World’s Largest NFT Marketplace Opensea Reveals Drop Improvements, Arbitrum L2 Support
The largest non-fungible token (NFT) marketplace by sales volume, Opensea, has announced a new “immersive and secure minting experience” by giving NFT creators the ability to showcase “collections with dedicated drop pages and greater discoverability” on Opensea’s new homepage. Moreover, the company also announced on Tuesday that the NFT marketplace will soon support the layer […]Powered by WPeMatico
Solana and Ethereum smart contract audits, explained
What are smart contract audits, how do they work, and how do they benefit the crypto projects who get their code scrutinized? Let’s find out.
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NFT Marketplace Opensea Migrates to Seaport Protocol, Transition to Cut Network Fees by 35%
On Tuesday, the leading non-fungible token (NFT) marketplace in terms of all-time sales, Opensea, announced it is migrating to Seaport, an open source Web3 marketplace protocol. Opensea says the Seaport protocol migration from the Wyvern protocol will cut network fees by 35%, and users will no longer have to pay an account initialization fee. Opensea […]Powered by WPeMatico
Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits
Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan […]Powered by WPeMatico
Former ConsenSys employees file for audit claiming ‘serious irregularities’
“Joseph Lubin is the majority shareholder of both companies. The transaction was to the detriment of the minority shareholders of CAG and to the benefit of Joseph Lubin personally,” the group alleged.
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Salvadoran President Nayib Bukele Announces Construction of Vet Hospital With Bitcoin Trust Funds
Nayib Bukele, president of El Salvador, announced yesterday he will start using surplus funds from the country’s bitcoin trust. Part of the $4 million excedent will be invested in a vet hospital that will offer different services for the pets of Salvadoran citizens. Bukele explained this is possible due to the bitcoin price increase in […]Powered by WPeMatico
Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations
Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now […]Powered by WPeMatico
Huobi Stablecoin Issuer Publishes Attestation Reports Tied to HUSD Reserve Backing
The crypto financial services company Huobi and the firm’s stablecoin issuer Stable Universal have published monthly HUSD attestation reports. The audits indicate the funds that back Huobi’s stablecoin are kept in cash in U.S. money market accounts in order to ensure the 1:1 ratio with USD. HUSD Monthly Attestations On Thursday, more than $117 billion […]Powered by WPeMatico
Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency
Tether is still under regulatory pressure with eyes now cast towards its commercial paper reserves.
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