Total crypto market cap takes another hit, but traders remain neutral
The total crypto market cap is at risk of falling below $825 billion, but data shows traders actively adding to their longs and shorts. Go to Source Powered by WPeMatico
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Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web
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 the FTX collapse last month. Mazars Group Pauses Crypto Company Audits, Binance … Read more
Dutch central bank says KuCoin is not licensed and ‘illegally offering services’
“This may increase the risk of customers becoming involved in money laundering or terrorist financing,” said De Nederlandsche Bank. Go to Source Powered by WPeMatico
Audit firm Mazars to verify KuCoin’s Proof-of-Reserves
Mazars, the former accounting firm for Donald Trump’s companies, was hired recently to audit Binance’s PoR. Go to Source Powered by WPeMatico
Binance’s Bitcoin Reserve Stash Nears 600,000, Company’s BTC Cache Is Now the Largest Held by an Exchange
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
Huobi Becomes Latest Crypto Exchange to Disclose Proof-of-Reserves
Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange as well as to improve transparency. Huobi’s ‘Inexhaustive Overview’ … Read more
Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges
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
Proof-of-Reserves Concept Gains Traction as Major Crypto Exchanges Provide Wallet Lists and Promise Full Audits
When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display … Read more
OKX, Kucoin say proof of reserves will be ready in a month
Similar protocols are used by Kraken, Bitmex, Gate.io, and many other exchanges, but were not used by FTX. Go to Source Powered by WPeMatico
Crypto Market Rout Fuels Global Exchange Volumes — Kraken, Coinbase Report Connectivity and Latency Delays
Amid the market carnage on Tuesday, Nov. 8, the top ten cryptocurrency exchanges have seen trade volumes soar. During the 24-hour period on Tuesday, the top five exchanges alone recorded more than $60 billion in trade volume. Out of the top ten crypto exchanges by trade volume, exchanges saw increases between 126% to 305% during … Read more