Cryptocurrency Analysis and News Portal
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the
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Singapore-based decentralized finance (DeFi) services firm Cake DeFi has announced the release of its proof of reserves using the cryptographically audited Merkle tree method. Developed by Ralph Merkle in 1979, the Merkle tree method is a way of proving that a certain piece of data is included in a set of
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Proof of reserves (PoR) has gone from a buzzword to a roar in recent weeks as the crypto world tries to recover from the shock and losses of the current crypto winter. After a flurry of discussion and work, criteria and rankings for adequate PoR are beginning to appear, but
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Crypto exchange OKX has released its second proof of reserves (PoR) on its website, only a month after releasing its first one.Haider Rafique, chief marketing officer at OKX, said on Twitter that the crypto exchange is committed to sharing its reserves status every month. NEW #OKX #proofofreserves published TODAY. This
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“If the exchange is not using its collateral to borrow money, it doesn't really matter what the clean reserves are. If every customer’s crypto is fully held 1:1 in proper wallets, it doesn’t really matter,” he told CryptoX via Telegram. “What is more important, is knowing the exchange's liabilities amount.
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The Federal Reserve’s strategy to hike interest rates may continue, making it difficult for the crypto industry to bounce back. For crypto assets to become the hedge against inflation, the industry needs to explore ways to decouple crypto from traditional markets. Decentralized finance (DeFi) can perhaps offer a way out
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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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The cryptocurrency exchange Bybit joins the parade of exchanges in the industry pushing for transparency post the FTX catastrophe.On Dec. 12, it announced that it has launched a Merkle Tree-based proof-of-reserve system. The new transparency initiative allows its users to directly verify Bybit’s holdings, along with their personal assets deposited into
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Crypto.com has released an audited proof-of-reserves page, showing that the exchange has enough crypto assets to back its liabilities to customers, according to a Dec. 9 statement on the exchange’s website. The new page shows that Crypto.com has 102% of the Bitcoin (BTC), 101% of the Ether (ETH), and 102%
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United States Congressman Ritchie Torres has introduced bills in the House of Representatives to prohibit misuse of customer funds by cryptocurrency exchanges and to require exchanges disclose proof of reserves to the Securities and Exchange Commission (SEC). The short bills are intended to supplement other legislation that is passed on
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