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. Go to Source Powered by WPeMatico
Proof of Reserves
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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 … Read more
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 … Read more
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 … Read more
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. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
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
Only 1% of people can handle crypto self-custody right now: Binance CEO
Changpeng Zhao’s comments come as billions of dollars of stablecoins continue to flow out of the Binance exchange. Go to Source Powered by WPeMatico
Amid Speculation and Rumors Surrounding Binance, Exchange Token BNB Suffers Losses From the Alleged FUD
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 with the matter. Moreover, while a number of crypto assets have risen … Read more
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group
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
