Binance has re-entered the Japanese market with its acquisition of Sakura Exchange BitCoin (SEBC), according to a Nov. 30 announcement. #Binance Acquires JFSA Registered Sakura Exchange BitCoin, Committed to Enter Japan Under Regulatory Compliancehttps://t.co/xfdnaY2hiO — CZ 🔶 Binance (@cz_binance) November 30, 2022 The Changpeng Zhao-led exchange revealed that it bought a 100% stake in the…
Amidst increased bearish action on the cryptocurrency market, digital assets are offloading from exchanges and finding their way into cold wallets. However, the case is pretty different for Bitfinex’s stablecoin inflows, which according to onchain data provider Glassnode, Tether (USDT) holdings on the exchange broke a fresh all-time high on Nov.29 and surpased $11 billion….
The Winklevoss Twins-backed exchange Gemini has announced a “Trust Center” to display a breakdown of funds held on the platform. The page, hosted on the Gemini website, reveals that it holds over $4.6 billion in crypto assets with $601 million in the treasury to back its stablecoin GUSD. However, data from several sources, including CryptoSlate’s…
Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, reported third-quarter revenue of $205 million and profit of $124 million, respectively, down 66% and 76% from a year ago. During the third quarter of 2022, the company recorded sales of about $204 million, an operating profit of $125.5 million, and a net profit…
Despite posting a proof-of-reserves with neither asset breakdown nor wallet addresses, Nexo praised its risk engine as the sole reason for no bad debts. According to the Nov. 28 tweets, most exchanges were submitting proof of reserves but failing to prove whether their assets exceeded the liabilities. The firm which was lucky to withdraw its…
BlockFi became the latest platform to succumb to crypto contagion, filing for Chapter 11 bankruptcy on Nov. 28. Weeks before, after FTX had also filed for bankruptcy, BlockFi issued a statement saying it could not “operate business as usual.” At the same time, the firm implemented a pause on withdrawals to “protect our clients and their…
Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun – Issue 01 The current state of Bitcoin Miners is extremely stressful as coin prices declined, and credit has contracted, while mining input energy costs have also been on the rise. 🤝 Brought to you…
Former Kraken CEO Jesse Powell criticized Binance’s Proof of Reserve, calling it an “ignorant or intentional misrepresentation.” I’m sorry but no. This is not PoR. This is either ignorance or intentional misrepresentation. The merkle tree is just hand wavey bullshit without an auditor to make sure you didn’t include accounts with negative balances. The statement…
Youtuber Bitboy Crypto, aka Ben Armstrong, alleged the FTX exchange and Canadian entrepreneur Kevin O’Leary were pivotal figures in taking down Celsius. The crypto lending and borrowing platform halted withdrawals on June 13 to stabilize operations amid “extreme market conditions.” Weeks before that, rumors were circulating all was not well at Celsius, including reports of…
Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun – Issue 01 The current state of Bitcoin Miners is extremely stressful as coin prices declined, and credit has contracted, while mining input energy costs have also been on the rise. 🤝 Brought to you…