Cryptocurrency Analysis and News Portal
The central bank of Kazakhstan has completed the second phase of testing for its digital currency and published a whitepaper. The studies carried out by the regulator on its introduction did not identify significant risks for the country’s financial stability and economy. Monetary Authority of Kazakhstan Reports on Advance of Digital
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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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Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response.In an announcement on the Binance website, the exchange outlined how users can use the mechanism to verify its holdings. Currently, the only token available to verify
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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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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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Crypto exchanges are now scrambling to publicly publish their fund reserves. On Wednesday alone, nine exchanges – Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit and Bybit – separately issued statements that they would publish their Merkle tree reserve certificates to increase transparency. Source
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On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update
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India’s central bank, the Reserve Bank of India (RBI), says it will soon commence “limited pilot launches” of the country’s digital currency (digital rupee) for specific use cases. The central bank explained that “multiple technological options shall be tested and based on the outcomes, the final architecture shall be decided.” RBI
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The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has revealed over 14,000 pages of the usernames and trading histories of the company’s customers. While the file does not disclose personal information tied to the user’s finance providers or the
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"Currently, we are at the forefront of a watershed movement in the evolution of currency that will decisively change the very nature of money and its functions," the RBI said in its concept note. Original Source
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