In the rapidly evolving world of cryptocurrency, trust and transparency are of utmost importance. As the popularity of digital assets continues to grow, investors and customers are increasingly concerned about the security and backing of their funds. To address these concerns, major cryptocurrency exchanges have adopted proof-of-reserves (PoR) practices. By providing an overview of asset
Exchanges
In a recent press release, FTX Trading Ltd. announced that it has reached a settlement with its Bahamas-based subsidiary, FTX Digital Markets. This development marks a significant milestone in the aftermath of the collapse of the FTX group in November 2022. However, it is important to thoroughly analyze the details of the settlement and understand
Decentralized exchanges (DEX) on the Solana blockchain recently achieved a significant milestone by surpassing Ethereum in trading volume. On December 16, the trading volume of DEXs on Solana reached $1.536 billion, exceeding Ethereum’s $1.164 billion during the same period. This development showcases the rapid growth and widespread adoption of Solana’s decentralized finance (DeFi) ecosystem. It
The amended Chapter 11 reorganization plan filed by FTX Debtors on December 16 has raised concerns among the defunct crypto exchange’s creditors. The plan proposes valuing the creditors’ claims based on crypto prices from November 11, 2022, the day FTX filed for bankruptcy. However, during the days leading up to the FTX collapse, the crypto
FTX Debtors have recently submitted an amended Chapter 11 reorganization plan, prompting concerns over potential massive losses for the defunct cryptocurrency exchange’s creditors. The plan outlines the valuation of creditors’ claims based on cryptocurrency prices from November 11, 2022, the date of FTX’s bankruptcy petition. However, this valuation fails to consider the wild fluctuations and
Coinbase, one of the leading cryptocurrency exchanges, recently made headlines with its decision to add Bonk (BONK), a token on the Solana network, to its list of tradable assets. This move marks a significant addition of a memecoin to Coinbase’s platform, alongside popular ones like Shiba Inu and Dogecoin. However, Coinbase’s involvement in institutional activities,
Gemini Earn, a platform that allows users to lend their cryptocurrencies, has recently provided an update on the reorganization plan from defunct crypto lender Genesis. According to the plan, as of January 19, 2023, Gemini Earn users may only receive 61% of the value of their crypto holdings. This revelation has sparked widespread outrage among
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently announced a settlement with CoinList, a cryptocurrency exchange, for an “apparent violation” of its sanctions related to Russia and Ukraine. The violation involved the processing of 989 transactions worth $1.25 million from users who resided in Crimea, a disputed region of Ukraine that was annexed
Coinbase International, a leading cryptocurrency exchange, is set to expand its services by offering spot trading for Bitcoin (BTC) and Ethereum (ETH) starting on December 14. This move is part of the exchange’s global expansion strategy, aimed at building liquidity and creating a robust foundation for future growth. Coinbase International’s primary focus initially will be
Google recently announced its intentions to update its policy on cryptocurrencies and related products starting in January 2024. The upcoming change in advertising regulations specifically focuses on Cryptocurrency Coin Trusts, allowing advertisers in the United States to promote these financial products under certain conditions and with certification from Google. This article will delve into the
