Tag: Binance

Bitcoin Falls Below $17,000; Mazars Pauses Work For Binance

boss

The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified. As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all their client funds. The impetus for the outcry was a proof-of-reserves conducted by Mazars that raised numerous new questions instead of answering the old ones. Remarkably, the auditing firm worked not only with Binance but…

Binance Replies Delisted Mithril Request for BNB Insurance Sum Refund, Claims Entitlement to Partial or Whole Sum

Binance recently explained to delisted project Mithril that a clause in their contract entitles it to Mithril’s initial insurance deposit. Recently delisted Binance social network project Mithril (MITH) has asked the exchange to refund its initial insurance deposit. Mithril said it deposited 200,000 Binance Coins (BNB) as insurance for listing on Binance and now wants them back. However, the exchange’s outspoken CEO Changpeng Zhao recently came out to address those claims and provide more clarity regarding the listing terms. Sharing a screenshot of Binance’s contract with Mithril on Twitter, Zhao explained that the exchange…

BNB insurance Binance listing? CZ addresses delisted project’s claims

boss

A decentralized social network project called Mithril (MITH) was recently delisted from Binance and in return, the crypto project asked for the 200,000 Binance Coin (BNB) it had to deposit as insurance for listing on the exchange. Binance CEO Changpeng Zhao aka CZ responded to MITH’s demand on Twitter with a screenshot of their contract that suggests if the listed token price falls below a certain threshold, the exchange has the right to deduct the insurance fund partially or fully as an additional fee. CZ said that the said project’s…

Bitcoin dips under $17K as ‘craziest rumors’ over Binance sink BTC price

boss

Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance “FUD” fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing concerns over the solvency of largest global exchange Binance, market sentiment showed what traders…

Binance proof-of-reserves removed from the auditor’s site

boss

Crypto exchange Binance has seen its proof-of-reserve audits removed from auditor Mazars’ website. Mazars’ official website shows they fully discontinued Mazars Veritas, a section dedicated to cryptocurrency exchange audits. The tool was developed by Mazars in order to bring “trust and transparency to the digital asset sector,” using the Silver Sixpence Merkle Tree Generating tool to complement proof-of-reserve reports. On Dec. 16, Bloomberg also reported that Mazars stopped doing proof-of-reserve audits for cryptocurrency companies. Other auditing firms such as FTX’s auditor Armanino have also reportedly stopped working with crypto exchanges like OKX…

Binance CEO Says the World’s Largest Crypto Exchange by Volume Holds Customer Assets One-to-One

boss

Binance CEO Changpeng “CZ” Zhao is fighting fear, uncertainty and doubt, saying assets held on the world’s largest exchange are one-to-one backed. In a new interview with CNBC Squawk Box host Aaron Sorkin, Zhao says they would not have a liquidity crunch covering any amount of customers’ withdrawals. “People can withdraw 100% of the assets they have on Binance. We will not have an issue on any given day. So 100% of users withdraw 100% of assets, we’d be fine. This is very different for traditional financial people to understand…

Changpeng Zhao Won’t Rescue Binance by Selling out Crypto Self-Custody

Centralized crypto exchanges reintroduce an element of trust that trustless protocols like Bitcoin and Ethereum remove from finance. Users take on the risks, even if rare, of hacks, frozen withdrawals and other business failures, Casa’s Nick Neuman said recently. And so, amid a period of uncertainty, Zhao’s primary responsibility is to reestablish confidence in his exchange. Source

Binance Coin Facing Sell Pressure? Mithril Requests 200k BNB

boss

In an announcement today, Binance declared that based on recent reviews, it has decided to delist the Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Standard Hashrate Token (BTCST) tokens on December 22, 09:00 (UTC) and cease trading on all trading pairs. As stated in a blog post about the matter, Binance periodically reviews the standards for a listing on the exchange. If a token no longer meets that standard, “we will conduct a more thorough review and potentially delist it,” Binance declared. Factors in the review include the team’s…

Project alleges unreturned listing deposit as Binance announces delistings

On Dec. 15, cryptocurrency exchange Binance announced that four tokens — Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Standard Hashrate Token (BTCST) — would be delisted from the exchange effective Dec. 22 due to not meeting the “high level of standard we expect.” Immediately after the announcement, decentralized social media protocol Mithril, whose token had a market capitalization of less than $10 million at the time of publication, posted the following statement on Twitter: “Today, Binance has announced that it will delist MITH. As part of the MITH listing, Binance…