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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 published proof-of-reserves records and the verification was also conducted by … Read more
The new disclosure page allows skeptical users to self-verify that their assets are included in the report. Go to Source Powered by WPeMatico
Atari has teamed up with Pixels.com for physical NFT artworks and Investopedia has given a rundown on NFT tax law. Go to Source Powered by WPeMatico
While there’s been a lot of discussions concerning proof-of-reserves, self-custody, and the more than $5 billion in bitcoin and ethereum that left exchanges between Nov. 7 through Nov. 14, 2022, Binance’s bitcoin stash has grown significantly since Nov. 12. In fact, metrics from cryptoquant.com indicate that Binance’s bitcoin reserves reached an all-time high on Nov. … Read more
According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure to the crypto platform was below $10 million. Marszalek also claimed that Crypto.com has never … Read more
While the full impact of FTX’s collapse is still unfolding, some have already warned of an increase in layoffs to come “in the months to follow.” Go to Source Powered by WPeMatico
Derivatives data shows increased demand for margin longs contradicts traders’ perception that further downside in store for Bitcoin. Go to Source Powered by WPeMatico
During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to the fiasco is the fact that cryptocurrency enthusiasts have removed large quantities of bitcoin and … Read more
CEO Marszalek says the firm has recovered much of the funds and has less than $10M in exposure to FTX. Go to Source Powered by WPeMatico
Short CRO traders were paying as much as 3% premium to long traders on Nov. 14, reflecting extreme bearishness in its futures market. Go to Source Powered by WPeMatico