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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 billion, to an unknown wallet on Nov. 28, Whale Alert reported on Monday. According to on-chain data, the transaction occurred at 10:00
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Disclaimer: The article has been updated to reflect Binance CEO CZ's response to the concerns raised by Kraken CEO Jesse Powell.The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the
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The Turkish government has launched an investigation on the former chief executive of failed cryptocurrency exchange FTX, Sam Bankman-Fried. According to local media, the authorities in Ankara have also seized assets belonging to the founder of the troubled coin trading platform. Turkey’s Financial Intelligence Unit Initiates Another FTX-Related Probe Financial regulators
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Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as
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Changpeng Zhao quickly deleted a tweet that called the companies' disclosures into question. Source
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Changpeng Zhao, chief executive officer of crypto exchange Binance, has denied a report claiming he met with investors in Abu Dhabi in an effort to raise cash for the company’s crypto recovery fund.According to a Nov. 22 report from Bloomberg, CZ and others affiliated with Binance discussed raising cash for
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Binance plans to start a recovery fund to help projects with strong fundamentals, but suffering from a liquidity crisis. Original Source
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Non-executive directors hired in the wake of the crypto exchange’s collapse are earning $50,000 a month – but the fees may pale in comparison to the overall costs of corporate restructuring. Source
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Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.” New FTX CEO Outlines Priorities Cryptocurrency exchange FTX and approximately
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According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to
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