Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Binance launched a proof-of-reserves system for bitcoin holdings? What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Central banks must buy bitcoin to hedge against sanctions: Harvard Ph.D. candidate

Published: Nov. 23, 2022 at 3:31 p.m. ET A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD as a hedge against sanctions by other countries. The paper, titled “Hedging Sanctions Risk: Cryptocurrency in Central Bank Reserves,” was authored by Ph.D. candidate Matthew Ferranti from Harvard’s economics department, and … Read more

Bitcoin in your 401(k)? Senators pressure Fidelity to reconsider crypto

Democratic Sens. Dick Durbin, Elizabeth Warren and Tina Smith on Monday intensified the pressure on Fidelity Investments to reconsider its decision to allow employers to offer bitcoin exposure to 401(k) plan participants in the wake of crypto exchange FTX filing for bankruptcy earlier this month. The senators first wrote a letter to Fidelity in July. … Read more

National security secrets raised in case against crypto couple charged in heist

The spectacular case against a hipster New York couple who were allegedly caught with $3.6 billion in stolen bitcoin has taken a more mysterious turn. A court filing made by U.S. prosecutors on Wednesday in the case against Ilya Lichtenstein and his eccentric rapper wife Heather Morgan revealed that the investigation now involves “classified national … Read more

Trading pioneer Peterffy awaits a steeper, 25% bitcoin plunge amid FTX scandal

Thomas Peterffy, the chairman and founder of Interactive Brokers Group Inc., is patiently waiting for a deeper retrenchment in bitcoin, as the industry digests the latest scandal to rock the digital-asset landscape. Major crypto platform FTX filed for bankruptcy last week, amid reports that it used customer funds to back an affiliate hedge fund founded by then-FTX CEO … Read more

Trading pioneer Peterffy awaits a steeper, 25% bitcoin plunge amid FTX scandal

Thomas Peterffy, the chairman and founder of Interactive Brokers Group Inc., is patiently waiting for a deeper retrenchment in bitcoin, as the industry digests the latest scandal to rock the digital-asset landscape. Major crypto platform FTX filed for bankruptcy last week, amid reports that it used customer funds to back an affiliate hedge fund founded by then-FTX CEO … Read more

A ‘cascade of margin calls’ deleveraging, crypto failures and bitcoin at $13,000 are likely amid FTX fallout

A “new wave of crypto deleveraging” is likely under way, with bitcoin itself poised to drop another 25% amid a “cascade” of margin calls. That was the grim assessment JPMorgan gave clients on Wednesday as the world’s third largest crypto exchange, FTX, teetered on the edge of bankruptcy after a possible rescue from fellow exchange … Read more

Bitcoin, Ether fall sharply on as token linked to FTX takes a sharp tumble

The price of bitcoin fell below $20,000 for the first time in nearly four weeks on Tuesday, with Ether also under pressure as a token linked to crypto exchange FTX tumbled below a crucial level. Bitcoin BTCUSD, -4.93% was off nearly 5% over the last 24 hours to $19,739, headed for the lowest closing price … Read more