Chainlinks proof of reserve system to be used for the TrueUSD verification TUSD is backed by Us dollars and it is the sixth largest stablecoin with the market capitalisation of the $966 million LINK t...
Tag: ProofOfReserve
Avalanche (AVAX) Reaps Benefits Of Recent Developments, Polkadot (DOT) Added To Binance’s Proof-of-reserve System, And Most-Awaited TMS Network (TMSN) Presale Begins
While there are many projects in the arena, let’s have a look at the current market performances of Avalanche (AVAX), Polkadot (DOT), and TMS Network (TMSN) since they are frequently in the news. The ...
Senate Republican drafting proof-of-reserve legislation
Policy • February 15, 2023, 10:46AM EST Published 16 hours and 30 minutes earlier on Sen. Thom Tillis, R-N.C., is drafting legislation to require digital asset exchanges and custodians operating in th...
Binance Incorporates zk-SNARKs Into Proof-of-Reserve Verification System
10 seconds ago | 2 mins read Exchange News This method enables Binance to demonstrate the status of its assets. The upgrade should greatly increase the safety and openness of the verification procedur...
CZ Announces zk-SNARK Proof-of-Reserve System Integration
Binance CEO Chanpeng Zhao announces that Binance Proof-of-Reserve system has integrated with zk-SNARK. The integration will be made open source, in the hopes of helping all of the crypto industry. Upg...
Binance Aims to Improve Proof-of-Reserve System With zk-SNARKs
Binance said earlier today it had introduced zk-SNARKs to its proof-of-reserve system in an attempt to make it easier for users and other entities to verify its solvency. Additionally, the exchange ha...
Circle releases an updated accountant-verified proof-of-reserve report
USDC stablecoin issuer Circle has drafted an updated proof-of-reserve report showing more than $44.5 billion worth of tokens are currently in circulation. USDC’s released December 2022 proof-of-reserv...
Indian Crypto Exchange WazirX Publishes Proof-of-Reserve
11 hours ago | 2 mins read Exchange News Shiba Inu (SHIB) token is the largest at about $54 million. The crypto exchange has 95.67 million of its native token WRX. WazirX, India’s biggest cryptocurren...
OKX releases second proof-of-reserve report, assures clients of asset safety
OKX has released its second proof-of-reserve (POR) report. The exchange said it will be publishing reserve reports on the 22nd of every month for transparency reasons. OKX announced that they included...
Be ‘very wary’ of crypto proof-of-reserve audits: SEC official
A senior official from the United States Securities and Exchange Commission has warned investors to be “very wary” about relying on a crypto company’s “proof-of-reserves.” “We’re warning investors to ...
Proof-of-Reserve Auditor Mazars Pauses Work for Crypto Clients
Mazars the auditing firm that worked with Binance and various other crypto exchanges including KuCoin and Crypto.com has paused all its business with their crypto clients according to an emailed state...
No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios
As the FTX collapse highlighted the need for more transparency from centralized crypto exchanges, working with auditors has been the move by top crypto trading platforms to assure users that their ass...
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News
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 conducti...
Crypto.com releases proof-of-reserve data; here’s where BTC, ETH reserves stand
Crypto.com released proof-of-reserves data on 9 December Following the FTX debacle, most exchanges have had to reveal their proof-of-reserve exchanges Singapore-based crypto exchange Crypto.com relea...
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group – Coinotizia
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 de...
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group – Bitcoin News
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 de...
Proof-of-Reserve Isn’t Good Enough, Says Industry
The crypto space is rife with exchanges that have been hacked, lost customer funds, or even ended up being elaborate scams. The collapse of FTX due to a liquidity crisis in recent weeks has been the m...
Kraken’s Powell says Binance Proof-of-Reserve is pointless without liabilities
Former Kraken CEO Jesse Powell criticized Binance’s Proof of Reserve, calling it an “ignorant or intentional misrepresentation.” I’m sorry but no. This is not PoR. This is either ignorance or in...
Binance CEO explains 127K BTC transfer, points at proof-of-reserve audit
Cryptocurrency exchange Binance is moving large amounts of cryptocurrency as part of its proof-of-reserve (PoR) audits, according to the CEO. Binance sent 127,351 Bitcoin (BTC), or more than $2 billio...
Binance releases its Proof-of-Reserve, but not without criticism from…
Binance releases its Proof-of-Reserves mechanism However, its Merkle Tree mechanism has been met with criticism In the wake of the FTX‘s collapse, Changpeng Zhao (CZ), the CEO of Binance, issued a cla...
CoinMarketCap launches proof-of-reserve tracker for crypto exchanges
CoinMarketCap, a leading market researcher and tracker in the crypto industry, announced the launch of a new feature on its platform that gives users updated financial insights on exchanges. The proof...
CoinMarketCap’s proof-of-reserve tracker | Blockchain News
The most prominent market researcher and tracker in the cryptocurrency industry, CoinMarketCap, recently made an announcement regarding the launch of a new feature on its platform. This new feature wi...
Did Bitcoin (BTC) Price Plunge as Grayscale Refused to Show Proof-of-Reserve?
Proof-of-Reserve, first published by Binance was believed to be the one basis on which the financial stability of the exchanges could have been ascertained. Meanwhile, some of the exchanges including ...
Grayscale Declines Providing Proof-of-Reserve Citing Security Concerns
The company recognized that some investors will be disappointed. During the recent Binance-FTX transaction debate, it was CZ who first mentioned it. Following the demise of crypto behemoth FTX, CZ has...
Crypto.com CRO Price Tanks 28% Following Proof-of-Reserve Concerns
Crypto.com is the latest centralized exchange to be thrown into the spotlight a week after the collapse of the FTX group. Its native token, CRO, has tanked almost 30% in a day. The Crypto.com exchange...
All Custodial Crypto Exchanges Should Adopt Proof-of-Reserve Programs, but Even That Isn’t Enough
On top of that, at risk of sounding like a Luddite, I also think consumers are wising up to one of the problems with contemporary business: complexity. Sure, without complicated things we wouldn’t hav...
Crypto.com to Release Cold Wallet Addresses After Proof-Of-Reserve Pledge
38 mins ago | 2 mins read Exchange News Crypto.com to publish the list of cold wallet addresses and balances for major assets. The exchange’s CEO recently announced the publishing of its audited proof...
Chainlink Touts Proof-of-Reserve as Solution to Crypto Contagion
The crypto contagion has continued this year, with FTX compounding matters this week. This has put the spotlight on transparency, especially for centralized crypto exchanges. Data oracle provider Chai...
Crypto.com Soon To Implement Proof-Of-Reserve
Exchange News Kris emphasized that transparency is more vital than ever during the current industry crisis. OKX, Polonix, Kucoin, Huobi Global, and Binance are shifting into Proof-Of-Reverse. As a res...
Binance Makes a Proof-of-Reserve Pledge
After the market chaos that ensued earlier this week, Binance, and many other firms have pledged to soon start a Proof-of-Reserves audit system to allow verification of its digital asset holdings. CEO...
Binance’s Proof-Of-Reserve Promise Gained Traction Following FTX Crisis
2 hours ago | 2 mins read Editors News CZ, announced that his exchange would soon launch a Proof-of-Reserves audit mechanism. The Twitter community supported the concept of increased Proof-of-Reserve ...