Cryptocurrency Analysis and News Portal
Unregulated crypto exchanges will continue to fall like dominoes post-FTX, with plenty more “meltdowns” to come, warns Shark Tank star and investor Kevin O’Leary.O’Leary, a former spokesperson and proponent for the now-bankrupt FTX exchange, told Kitco anchor David Lin in a Jan. 17 interview that the collapse was just one
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Blockchain analytics provider CryptoQuant has released a report analyzing the recently released proof of reserves audit of the world’s largest crypto exchange, Binance.Centralized exchanges have been cast into the spotlight over the past month following the collapse of FTX, none more so than Binance which has been scrambling to reassure
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“At the time Binance’s Proof of Reserves report was conducted, CryptoQuant’s estimate of Binance’s BTC reserves (liabilities) was 591,939 BTC. This compares to the PoR report’s Customer Liability Report Balance of 597,602 BTC. We can see that CryptoQuant data covered 99% of Binance's liabilities,” CryptoQuant wrote, using the ticker symbol
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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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Just days after Binance CEO Changpeng “CZ” Zhao warned about the onset of greater regulatory scrutiny amid the FTX collapse, the Financial Secretary of Hong Kong called for a stronger focus on transparency and proper supervision when dealing with virtual assets.Financial Secretary Paul Chan highlighted the importance of being “steady
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