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sponsored Leading global cryptocurrency exchange, Bitget, announces today that it is launching its Proof of Reserves Page, which will demonstrate to users that we are a full-reserve exchange, as supported by its Proof of Reserves (“PoR”), using the cryptographic-audited Merkle tree method, and that users’ assets stored on the platform
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The RBI is test-running its digital rupee in numerous banks and Indian cities as it nears the official launch of the CBDC. Ahead of the proper launch of the digital rupee, the Reserve Bank of India (RBI) has decided first to conduct a pilot rollout of the virtual fiat. According to the Indian
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Ethereum moved back above $1,200 on Thursday, as markets continued to react to the latest Federal Open Market Committee (FOMC) minutes. Yesterday’s report hinted that the U.S. Federal Reserve could pivot to smaller interest rate increases “soon.” Bitcoin was largely unchanged in today’s session. Bitcoin Bitcoin (BTC) mostly consolidated on Thursday, following
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Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.” The pilot should launch within a month.According to the Economic Times of India, the RBI is in the final stage of
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The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says crypto exchange FTX isn’t “one fraudulent company in a serious industry.” Stating that the “Entire notion of crypto is nonsense,” the Fed president claimed it is “just a tool of speculation and greater fools.” Minneapolis Fed President Neel Kashkari
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While there’s been a lot of discussions concerning proof-of-reserves, self-custody, and the more than $5 billion in bitcoin and ethereum that left exchanges between Nov. 7 through Nov. 14, 2022, Binance’s bitcoin stash has grown significantly since Nov. 12. In fact, metrics from cryptoquant.com indicate that Binance’s bitcoin reserves reached
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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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Let’s be clear. A PoR wouldn’t have “stopped” FTX, Quadriga, or Mt Gox. All three were insolvent for long periods of time, due to either fraud or hacks. But in a world where PoR is normalized, their refusal or inability to perform a PoR would have stuck out like a
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Chainlink Labs offered its Proof of Reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked “Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?”#Crypto is at
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In light of the FTX liquidity crisis and the almost-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings.On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity
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