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Tag: Reserves
How Circle alerted the NYDFS about Binance’s insufficient reserves
USDC issuer Circle alerted the NYDFS about mismanagement of Binance’s reserves last year. The complaint came around the same time that Binance imposed its BUSD auto-conversion policy. Circle may hav...
Circle Sounded Initial Alarm Over Binance Reserves To NYDFS
According to a new report, USDC issuer Circle sounded the alarm about Binance’s BUSD stablecoin and its reserves to the NYDFS. Circle’s complaint to the New York regulator came before the NYDFS direc...
Circle Warned NYDFS About Binance Reserves Prior to BUSD Crackdown: Report
Circle – the issuer of the world’s second-largest stablecoin, USDC – reportedly warned the New York Department of Financial Services (NYDFS) last Autumn that Binance has been mismanaging its token res...
Breaking: Circle Tipped Off NYDFS About Insufficient Reserves At Binance
– Advertisement – Circle reportedly alerted the New York Department of Financial Services about Binance’s tokens. The USDC issuer warned the NYDFS about Binance not having enough crypto i...
OKX Shines As Proof Of Reserves, Security Grab The Spotlight
OKX is known for its innovative approach to security, using cutting-edge technology and strict security protocols to ensure that all transactions are safe and secure. Additionally, OKX has implemente...
Binance adds zk-SNARK verification to its proof of reserves system
Ad Binance has upgraded its proof-of-reserves (PoR) system with zk-SNARK verifications, a form of zero-knowledge proofs that preserves the privacy and security of sensitive user information. Binance C...
Binance Officially Includes Shiba Inu on Its Proof of Reserves System
The exchange also incorporated zk-SNARK into the PoR system to improve transparency. Binance, the world’s largest exchange by daily trade volume, has officially included Shiba Inu (SHIB) on its Proof ...
Tether Has Moved Reserves to Capital Union and Two Other Firms
Tether has moved $37 billion of its reserves to Capital Union Bank in 2021. The transfer of the share followed the company’s settlement with the New York Attorney General’s office. The company has als...
Wall street institution Cantor Fitzgerald reportedly manages $39B of Tether’s reserves
Ad Stablecoin issuer Tether (USDT) is reportedly using Wall Street financial institution Cantor Fitzgerald to manage its $39 billion bond portfolio, Wall Street Journal reported Feb. 10. According to ...
Binance Upgrades Proof of Reserves Privacy With Zk-SNARKs
Binance announced that it would introduce zero-knowledge proofs to improve the quality of its Proof of Reserves report. Zk-SNARKs will allow Binance users to securely and privately confirm nonnegative...
Tether Completes Reserves Attestation by Major Global Accounting Firm
The completion of the reserves attestation for the cryptocurrency Tether has been accomplished with flying colors by the prestigious international accounting firm BDO. The attestation that Tether is t...
Tether eliminates commercial paper from reserves, CTO boasts profit
Tether recently published an independent attestation report put together by accounting giant BDO Italia. The report revealed that the USDT issuer had eliminated its exposure to commercial paper as of ...
Tether Has Surplus Reserves Worth $960M, BDO Confirms
Attestation firm BDO confirms that Tether has assets worth at least $67 billion and minimum surplus reserves of $960 million. BDO’s “assurance opinion” confirms the validity of Tether’s December 2022 ...
Tether’s assets exceed liabilities in new reserves report by BDO
Tether, the issuer of the world’s largest stablecoin by market value, has completed reserves attestation by major global accounting firm BDO. The stablecoin firm released BDO’s assurance opinion on Fe...
Stablecoin Tether (USDT) profits and reserves
The most prominent stablecoin in the crypto ecosystem, Tether (USDT), has recently revealed its profits worth $700 million during the last phase of 2022. The data was provided by BDO, a leading global...
Full audit of Binance’s reserves ‘some way off’ – exec
Binance Asia-Pacific head Leon Foong said a comprehensive audit of the exchange’s reserve is not possible in the near term, given the crypto learning curve for big accounting firms, Bloomberg N...
BIS Project ‘Pyxtrial’ Developing Tool to Monitor Stablecoin Reserves
The Bank for International Settlements (BIS) plans to sharpen its focus on stablecoins and Central Bank Digital Currencies (CBDCs) in 2023, with the goal of “improving payment systems” and “securing t...
Aave integrates Chainlink’s proof of reserves on Avalanche via BGD Labs
Chainlink’s Proof of Reserve feature is now available on Aave lending platform on the Avalanche blockchain for on-chain verification and transparency of lending markets. BGD Labs, a development ...
MakerDAO Constitution Would Fund Sustainability Efforts With 20K MKR Tokens From Reserves, Emissions
On Twitter, in response to the 20,000 MKR being allocated to fight climate change, Moneysupply.eth, a risk analyst and governance contributor for several decentralized protocols, including MakerDAO, w...
Regardless of the Federal Reserve’s Caution, Change Is Coming to Money and Banking
When the tragic invasion of Ukraine began last February, Russian people eager to avoid entrapment in a war that vandalized reason turned to dollars. Get it? Not only do dollars liquefy a fair amount o...
New Cardano-Based Stablecoin DJED Quickly Attracts Over 27,000,000 ADA in Reserves
A new decentralized stablecoin based on smart contract platform Cardano (ADA) is quickly gathering millions of ADA in its reserves. According to data from Djed (DJED), the new stablecoin has seen a pa...
What is the Federal Reserve’s 2023 meeting schedule? Here when the Fed will meet again
The Federal Reserve met in December to discuss the effects of a series of interest rate hikes the central bank has carried out over the past few months. At the meeting, the interest rate was raised by...
Cake DeFi Launches Verified Proof of Reserves
Decentralized finance (DeFi) has experienced a surge in popularity over the past few years. With its promise of financial freedom, many people have looked to DeFi as a way to move away from traditiona...
How does Proof of Reserves Promote Transparency?
SPONSORED POST* Proof of Reserves is how centralized crypto exchanges can provide customers with the details of their reserves. It helps them to prove that they hold the assets they claim. Proof of R...
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...
Economist Mohamed El-Erian Predicts ‘Sticky’ Inflation Despite Federal Reserve’s Efforts to Bring it Down – Bitcoin News
As investors examine the next move of the Federal Reserve, analysts, economists and market participants are also closely monitoring inflation levels. In Dec. 2022, the annual inflation rate dropped to...
Leading Cryptocurrency Exchanges That Have Published Proof of Reserves
There is no question that transparency plays a crucial role in the cryptocurrency sector. The premise of decentralization powered by blockchain technology is to create an ecosystem without any central...
Bitcoin’s Fate Depends on the Federal Reserve’s Next Move – Will It Crash or Hit New All-Time Highs?
Experts speculate on the probable influence of the upcoming monetary policy adjustments by the Federal Reserve on the cryptocurrency market, particularly on the price of Bitcoin, as it nears $23,000 a...
Watch the Federal Reserve’s Waller speak live on the economy and interest rates
[The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Governor Christopher Waller is scheduled to speak Friday at 1 p.m. ...
Top 10 Exchanges that have Released Proof of Reserves Audit
On November 11, 2022, FTX, the third largest cryptocurrency exchange based on the volume of trades, voluntarily filed for Chapter 11 bankruptcy. FTX was forced to shutter because it had just $900 mill...
OKX Proof of Reserves Verifies $7.5B in Clean Assets
OKX, the world’s second-largest crypto exchange by trading volume, today published its third monthly Proof of Reserves (PoR), showing $7.5 billion in clean assets. A Proof of Reserves report verifies...