Cryptocurrency Analysis and News Portal
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
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In the wake of the FTX collapse that came about as a result of the now-bankrupt cryptocurrency exchange funneling user funds to mitigate its own risks, crypto exchanges came up with a transparency solution called proof-of-reserves. A practice, which was recently endorsed by Binance CEO Changpeng Zhao, offers a way for
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An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations. Original Source
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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
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press release PRESS RELEASE. The world of audit has always had an inherent problem, the conflict of interest that comes from paying for audit services. Auditors are meant to be independent of their clients, but how can you be independent when you are auditing your employer? With countless instances of
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Cross-chain liquidity protocol THORChain has fully recovered from two summer exploits that compromised millions of dollars in user funds after the company announced Thursday that it had received passing grades in a new security audit. The simultaneous audits, which were carried out by cybersecurity companies Trail and Bits and Halborn, allowed
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OKEx has frozen withdrawals, audit firms are experiencing a backlog of DeFi projects and the Trump administration is examining DLT for national defense.Top shelfAudit (back)logsCrypto code audit firms say they are swamped with decentralized finance (DeFi) projects. Three of the most well-regarded auditors in the space – OpenZeppelin, Quantstamp and Trail of
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Paraguay is preparing to take its nascent cryptocurrency industry mainstream.Last week, the Latin American country’s anti-money-laundering (AML) chief, the Secretary for Preventing Money and Property Laundering (SEPRELAD), announced a nationwide crypto survey. Every one of Paraguay’s virtual asset service providers (VASPs) was directed to open their books to the government
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Calibra cryptocurrency wallet CEO David Marcus spoke at the New York Times Dealbook Conference in New York City where he discussed the worldwide regulatory scrutiny the stablecoin project continues to face, among other topics.Calibra is considering an auditor for personal data practices On Nov. 6, the co-creator of Facebook’s Libra
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The Canada Revenue Agency (CRA), the country’s tax authority, is auditing the corporate tax returns filed by QuadrigaCX, the now-defunct Canadian cryptocurrency exchange. CRA’s request for documents and information is significantAccording to an article by the Globe and Mail on Sept. 16, QuadrigaCX is now being audited by the CRA
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