Day: November 26, 2022

Crypto Winter No Longer Has Big Impact on Long-Term Industry Growth, EY Executive Says – Markets and Prices Bitcoin News

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EY’s global blockchain leader says that for the first time ever, crypto’s price swings do not have that big of an impact on the long-term growth of the industry. Nonetheless, he stressed: “It is also important that regulators crack down on obvious Ponzi schemes faster and with more severity.” EY’s Brody on Crypto Winter Paul Brody, global blockchain leader at EY, discussed the crypto winter, the need for regulation, and the collapse of crypto exchange FTX in an interview published by the Mint publication Thursday. He was asked whether he…

Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO

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The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities. According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets. While…

UK Bank Starling Blocks Payments to Crypto Platforms — Claims Crypto Is High Risk, Heavily Used for Criminal Purposes – Finance Bitcoin News

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Starling Bank has informed its customers that the bank no longer supports fund transfers to cryptocurrency platforms, including crypto exchanges. The bank stated that cryptocurrencies “are high risk and heavily used for criminal purposes and, as such, we no longer support them.” Starling Bank Blocks Fund Transfers to Crypto Exchanges London-headquartered Starling Bank recently notified its customers that the bank no longer supports money transfers to cryptocurrency platforms, including crypto exchanges. A number of people asked the bank for clarification on Twitter. Starling Bank provided the same response to all…

Singapore Regulator Explains Action Against Binance vs FTX — Warns Even Licensed Crypto Exchanges Can Fail – Regulation Bitcoin News

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The Monetary Authority of Singapore (MAS), the regulator overseeing the crypto sector, has defended the action it took against crypto exchange Binance and not the collapsed crypto platform FTX. The central bank also warned that cryptocurrencies are “highly volatile and many of them have lost all value.” Singapore’s Central Bank Clarifies Its Stance on Binance and FTX The Monetary Authority of Singapore (MAS), the country’s central bank, issued a press release this week “to address some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.”…

Dogecoin Rallies As Price Breaks Major Resistance; Here Is Why $0.15 Is Possible

DOGE’s price holds above $0.08 as the price gears for a rally to a possible high of $0.15. DOGE’s price remains strong as bulls reclaim $0.088 despite uncertainty in the market traders and investors remain cautious.  DOGE’s price bounces from a low of $0.07 on the daily timeframe as the price reclaims $0.088 as price trades above the 50 Exponential Moving Average (EMA) In recent weeks, the price of Dogecoin (DOGE) has been a standout performer rallying with over 150% profit and creating more euphoria about how the bull run…