Major crypto exchange Binance will follow Gate.io ’s and Kraken’s example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao.
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would “soon” start to do proof-of-reserves, arguing that:
“All crypto exchanges should do merkle-tree proof-of-reserves. Banks run on fractional reserves. Crypto exchanges should not.”
This could be a further boost for other exchanges to follow suit. …
Read More: Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?…
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Brian Armstrong addressed concerns about his firm’s stability after Binance announced its FTX buyout….
Continue reading on https://decrypt.co/113937/coinbase-ceo-doesnt-have-material-exposure-ftx-alameda
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FTX currently holds over 56 million shares of Robinhood stock….
Continue reading on https://decrypt.co/113947/robinhood-down-20-after-binance-ftx-acquisition
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Binance is set to acquire FTX – that is the startling news that hit the cryptoverse moments ago.
Changpeng Zhao - or CZ as he is known – tweeted that Binance has been asked for help by FTX as it seeks to staunch the bleeding at the exchange after Coindesk caught sight of documents earlier this week that indicated that sister company Alameda held the FTT token and not much else on its balance sheet.
Fears that FTX was insolvent started to swirl….
Read More: Breaking News: Crypto Prices Spike then Crash as Binance Moves to Acquire FTX…
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FTX’s token plunged nearly 80% following news that Binance would acquire Sam Bankman-Fried’s crypto exchange….
Continue reading on https://decrypt.co/113928/ftx-ftt-token-crashes-78-24-hours-bitcoin-hits-yearly-low
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FTX spent big on Web3 investments, gaming tech, and esports deals, but the future of those endeavors is now unclear….
Continue reading on https://decrypt.co/113914/what-happens-ftx-gaming-nfts-binance-deal
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Changpeng “CZ” Zhao says the industry can’t simply say, “Trust me, bro.”…
Continue reading on https://decrypt.co/113917/binance-ceo-promises-to-implement-proof-of-reserves-after-run-on-ftx
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Binance is buying FTX and the market has been thrown into turmoil as traders try to make sense of what it all means for crypto.
For those with funds on FTX, many will be wondering whether Sam Bankman-Fried’s commitment to honour assets 1:1 and that its “assets are fine” will be worth the tweet it was written in. …
Read More: FTX Token Price Prediction - Will FTT Go to $0 Like Luna? Traders Buying These Coins Instead…
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Binance CEO CZ is depicted as Obi-Wan Kenobi, Michael Scott, and Elon Musk. FTX CEO SBF fares less well….
Continue reading on https://decrypt.co/113888/crypto-twitter-reacts-to-binance-acquiring-ftx-in-memes
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Bitcoin price prediction was bearish; however, it has shifted to bullish above the double bottom level of $19,230. Binance, a cryptocurrency exchange, has signed a non-binding letter of intent (LOI) to buy the FTX exchange. Binance CEO Changpeng Zhao said this would assist in relieving pressure on the FTX exchange’s liquidity….
Read More: Bitcoin Price Prediction as BTC Rebounds Above $20,000, Binance Buying FTX…
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