Recent news articles state that the prominent cryptocurrency exchange Binance has acknowledged that it keeps some customer assets in the same wallet that it uses to store its own collateral for certai...
Tag: funds
Binance Held Token Collateral And Customer Funds In The Same Wallet
– Advertisement – Binance held token collateral and user funds in the same cold wallet. The exchange claims it was a mistake and is currently rectifying the issue. The cold wallet curren...
Binance admits it commingled customer funds with token reserves
Listen to this article. Crypto exchange Binance has acknowledged that it failed to keep backing for dozens of tokens issued on Binance Smart Chain separate, and instead commingled it with customer fun...
BNB price up despite reports Binance mixed client funds with collateral
Binance Coin (BNB/USD) has sustained its bullish trend amid reports by Bloomberg that the Binance exchange mistakenly mixed client funds with Binance-peg tokens (B-Tokens) collateral. At press time, t...
New York Regulators Warn Crypto Companies Against Commingling Customer Funds
Crypto companies were put on notice on Monday when New York regulators issued a new warning about how to properly handle their customers’ digital assets. In an open letter addressed to the indus...
NYDFS reminds crypto custodians of laws prohibiting commingling of funds
New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris reminded licensed crypto custodians in the state of their fiduciary duty to ensure customer funds are not commingled wi...
Crypto tracker picks up trail of funds heisted from Harmony Bridge in June
Crypto tracking platform MistTrack has followed funds taken in the Harmony bridge hack, publishing a list of 350 addresses associated with the attack. North Korea’s state-sponsored Lazarus Group is th...
Elon Musk tells court Saudi Arabia wanted to take Tesla private, $420 ‘not a joke’
Elon Musk testified Monday he believed he had funding secured to take Tesla Inc. private in 2018, both from a Saudi Arabian investment fund and from his stake in SpaceX, and that one of his key tweets...
FTX US Former Executive Raises Funds for Crypto Startup
FTX is a bankrupt crypto exchange, once counted among the leading crypto exchanges in the world. Its US arm was led by Brett Harrison. According to recent information, Harrison has raised $5 million ...
NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency
The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”. In a Ja...
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry – Regulation Bitcoin News
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial re...
Regulators in New York Taking Aim at Crypto Firms That Mishandle Customer Funds: Report
The New York state financial regulator is preparing to release new guidelines aimed at preventing another co-mingling crypto collapse like FTX. According to a new report from Reuters, the New York Sta...
Incoming Biden chief of staff Zients is nearly wealthy enough to buy the entire White House
Fixes story to reflect that Zients worked at Bain & Co. The person widely reported to be President Joe Biden’s next chief of staff has just about enough assets to swap it for the entire White Hous...
Secure 8% Dividends From These Mostly Ignored Funds
Portrait of young handsome businessman with closed eyes and fingers in ears, not listening, isolated … [+] on gray getty Mere “common stocks” fell 18% in last year. But these preferred shares ar...
New tool lets Tornado Cash users privately show their funds were not illicit
A tool built by Chainway lets Tornado Cash users prove their initial deposits were not from a list of wallets containing stolen funds — without revealing their own address. Called Proof of Innoc...
Frax Share up 29%, Luna Classic Pending Upgrades Could Push It Over $1 Billion, Snowfall Protocol Employs Vest Strategy To Protect Investor Funds
Algorithmic stablecoins are considered a safe and stable store of value. For investors, it sounds like a safe zone from the general crypto market pressure until Terra’s UST depegged in May 2022. Since...
Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy
The Fairfax County Police Officers Retirement System, which is led by Chief Investment Officer Katherine Molnar and which was managing about $1.8 billion as of last summer, has invested in the crypto ...
A Tesla Debate Just Happened. Both Sides Were Wrong.
A big Tesla bull-bear debate just went down, but most of the ground covered was old news. Investors should be asking different questions about the industry and how Tesla can keep growing. Friday after...
NYDIG Bitcoin Funds Near $1 Billion – Trustnodes
NYDIG, a branch of the Stone Ridge Asset Management, has sold close to $1 billion worth of bitcoin through its numerous funds. The biggest by far is the NYDIG Institutional Digital Asset Fund. This is...
Ethereum’s Vitalik Buterin Is Aggressively Moving His Funds
Over the course of the past 20 days, Vitalik Buterin, the founder of Ethereum, has moved about $12 million worth of cryptocurrency between his several wallets. According to the findings of LookOnChain...
FTX could be revived; Binance received funds from Bitzlato
The biggest news in the cryptoverse for Jan. 19 saw FTX CEO John Ray II suggest that the failed exchange could be revived. Meanwhile, the U.S. agency FinCEN accused Binance of acting as a counterparty...
FTX’s Illiquid Holdings Filled With Tokens That Sit in Venture Funds in Which It Invested; Bitcoin Falls Below $21K
“In our view, crypto (and bitcoin in particular) has been somewhat misunderstood. It is not an inflation hedge, but more of a debasement hedge that protects holders from fiscal/monetary profliga...
ENS DAO may sell ten thousand ETH to raise funds
A member of the Ethereum Name Service (ENS) DAO, which stands for decentralized autonomous organization, has suggested in a governance proposal that the organization liquidates 10,000 ether (ETH) to f...
Coinbase Pulls the Plug in Japan: 4 Weeks to Pull Out Funds
Due to severe market conditions, Coinbase is to halt operations in Japan. Customers are given until February 16, 2023, to withdraw funds. The remaining funds will be converted to Yen and sent to Gua...
Binance was final destination for millions in funds from Bitzlato
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Federal prosecutors unsealed an indictment again...
Treasury Taps Retirement Funds to Avoid Breaching US Debt Limit
(Bloomberg) — The Treasury Department is beginning the use of special measures to avoid a US payments default, after the federal debt limit was reached Thursday. Most Read from Bloomberg The dep...
Distressed Crypto Firm Vauld Given New Deadline for Restructuring Plan as Customer Funds Remain Frozen: Report
Embattled crypto lender Vauld now has until February 28th to come up with a restructuring plan without getting hounded by claims from creditors. The company is initially set to submit its revival plan...
One of Wall Street’s biggest bulls last year says he’s learned his lesson and isn’t chasing stocks right now
The young new year has been all about reversion to the mean. Take the ARK Innovation ETF ARKK, -2.94% — Cathie Wood’s flagship fund of mostly unprofitable tech companies has stormed 19% higher in 2023...
I’m about to get $130,000 from a lump sum pension payout, what do I do with it?
I am about to receive a lump-sum payout from a pension plan I was in. It’s around $130,000. Need some advice on the best way to invest this money. I am turning 60 in April and don’t have a 401(k) or I...