Binance releases a proof-of-reserves system to show that the exchange is solvent; the company provided a snapshot of account balances and bitcoin reserves; it will add further tokens and blockchains in the coming weeks

https://www.theblock.co/post/189946/binance-releases-proof-of-reserves-system-starting-with-bitcoin
#Crypto

Binance releases proof-of-reserves system, starting with bitcoin

Crypto

Binance releases a proof-of-reserves system to show that the exchange is solvent; the company provided a snapshot of account balances and bitcoin reserves; it will add further tokens and blockchains in the coming weeks  https://www.theblock.co/post/189946/binance-releases-proof-of-reserves-system-starting-with-bitcoin #Crypto

Jerome Cody

https://theinformation.the.select/posts/zxeq

7 Biggest Revelations About Binance From CFTC’s Explosive Lawsuit - The Commodity Futures Trading Commission sued crypto exchange Binance and its CEO, Changpeng Zhao, Monday for violating U.S. trading

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Sam Mendoza

US regulators are taking a harder line on crypto and pushing banks to pull back on their crypto relationships 
https://www.bloomberg.com/news/articles/2023-02-13/us-crackdown-seeks-to-push-crypto-back-to-the-fringe-of-finance?sref=CrGXSfHu

US regulators are taking a harder line on crypto and pushing banks to pull back on their crypto relationships  https://www.bloomberg.com/news/articles/2023-02-13/us-crackdown-seeks-to-push-crypto-back-to-the-fringe-of-finance?sref=CrGXSfHu

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Bloomberg - Are you a robot?

Binance and its US-based subsidiary have been far more intertwined than the company said, according to an investigation, “mixing staff and finances and sharing an affiliated entity that bought and sold cryptocurrencies.” 
 https://www.wsj.com/articles/texts-from-crypto-giant-binance-reveal-plan-to-elude-u-s-authorities-3a17ddeb?mod=djemalertNEWS

Binance and its US-based subsidiary have been far more intertwined than the company said, according to an investigation, “mixing staff and finances and sharing an affiliated entity that bought and sold cryptocurrencies.”   https://www.wsj.com/articles/texts-from-crypto-giant-binance-reveal-plan-to-elude-u-s-authorities-3a17ddeb?mod=djemalertNEWS

The exchange was intertwined with an American firm portrayed as independent. Now, regulators are circling.

Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities

Bobby

👀

https://www.forbes.com/sites/javierpaz/2023/02/27/binances-asset-shuffling-eerily-similar-to-maneuvers-by-ftx/

👀  https://www.forbes.com/sites/javierpaz/2023/02/27/binances-asset-shuffling-eerily-similar-to-maneuvers-by-ftx/

When you’re the world’s largest crypto exchange in a largely unregulated market, it is easy to make up the rules as you go.

Binance’s Asset Shuffling Eerily Similar To Maneuvers By FTX

No one’s sleeping on crypto (regulation)… anymore. Last year's cascading bankruptcies at Celsius, BlockFi, and FTX left some lawmakers asking if crypto regulation was asleep at the wheel. Now regulators have downed a double espresso and set their sights on more than just stablecoins. The SEC said last week that it had reached a $30M settlement with US-based exchange Kraken over its staking program. And last month it went after Gemini's troubled Earn program.

Jerome Cody

A group of likeminded people in Crypto are talking about this.