Cryptocurrency Analysis and News Portal
On Nov. 25, the largest cryptocurrency exchange in terms of daily trade volume, Binance, published its bitcoin proof-of-reserves (POR) system using The Merkle approach. At the time of writing, the snapshot provided by Binance shows the firm’s onchain reserves equate to 582,485 bitcoin, while the company’s customer net balance is
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Coinbase was trending on Twitter on Nov. 22 after Binance CEO Changpeng Zhao, known also as CZ, sent out a tweet that appeared to question Coinbase’s Bitcoin holdings.In the since deleted tweet, CZ referenced a yahoo finance article that alleged that “Coinbase Custody holds 635,000 BTC on behalf of Grayscale.”
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On-chain data shows Ethereum whales have added $1 billion more to their holdings recently, something that could be bullish for the crypto’s price. Ethereum Whales Now Hold 947,940 ETH More In Their Wallets As per data from the analytics firm Santiment, this jump in the whale holdings is the 5th largest in
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Grayscale is owned by Digital Currency Group (DCG), which is also the parent company of crypto investment bank Genesis Global Trading and CryptoX. Thanks to the struggles of Genesis' crypto lending unit, Grayscale has come under some public pressure to provide transparency surrounding its bitcoin (BTC) holdings. Source
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On Nov. 18, 2022, at 5:47 p.m. (ET), Grayscale Investments’ official Twitter account shared information on the safety and security associated with Grayscale’s digital asset products. The update from Grayscale follows the recent FTX collapse that has shaken crypto investors, and Digital Currency Group’s (DCG) Genesis pausing the firm’s lending
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The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management.Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This
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Huobi held $920 million worth of its own HT token as of Nov. 12. The exchange has promised to perform a Merkle Tree Proof of Reserves audit with a third party within 30 days. Original Source
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The exchange’s public wallets hold just over $52,000, data shows. Source
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On-chain findings show Alameda has a $3 million debt over several Ethereum addresses. Source
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Changpeng “CZ” Zhao, CEO of cryptocurrency exchange Binance, appears disinterested in Alameda Research’s offer to buy out the crypto exchange’s FTX Token (FTT) holdings.Zhao responded to a question on Nov. 7 on Twitter asking if he would take up the offer by Alameda Research CEO Caroline Ellison to buy Binance’s FTT
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