Tag: News

Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’ – Featured Bitcoin News

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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. “Our auditors were learning on the job,” he described, adding that it’s “not a good thing.” Michael Burry on Audits of Crypto Firms Famous investor and founder of investment firm Scion Asset Management, Michael Burry, said Friday that proof-of-reserves (POR) audits of cryptocurrency exchanges, including Binance and the collapsed exchange FTX, are…

Bahamas Corrections Commissioner Says FTX Co-Founder Bankman-Fried Is in ‘Good Spirits’ in the Prison Sick Bay – Bitcoin News

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According to local reports, former FTX CEO Sam Bankman-Fried (SBF) is in “good spirits” and is being kept in the maximum security unit in the sick bay. SBF is held in custody at the Bahamas Department of Correctional Services (BDOCS), a jail called Fox Hill that is known for being filthy, and was accused of prison maltreatment last year. Acting commissioner of The Bahamas Corrections, Doan Cleare, detailed that SBF is in a dorm-style cell with roughly five other inmates. Sam Bankman-Fried Now Resides in an Overcrowded, Filthy Prison —…

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month – Altcoins Bitcoin News

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While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place on Dec. 13. BUSD’s Supply Declined by 3.24 Billion Since Dec. 13 Amid the speculation surrounding Binance and the large number of withdrawals (over $3B) that took place on Dec. 13, 2022, the stablecoin BUSD…

Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project – Market Updates Bitcoin News

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Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX’s fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it’s down 94.9% since the all-time high solana reached on Nov. 6, 2021. Solana’s Prior Relationship With FTX, Alameda Continues to Hurt the Project, Solana-Based Exchange Raydium Exploited for $2 Million Since the collapse of FTX, the crypto asset solana (SOL)…

Earn 175% APR Through ApeCoin (APE) Staking on LBank Exchange – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, Dec 16, 2022 – LBank Exchange, a global digital asset trading platform, has recently launched ApeCoin (APE) staking in its “Earn” – “Flexible” section, users will be able to earn APE token with an annual return of 175% (floating adjustment), and withdraw anytime without locking. APE Staking Is the New Trend Recently, ApeCoin DAO (ApeDAO) has established an official staking protocol for ApeCoin (APE), which was created as a way for APE, BAYC, MAYC, and BAKC holders to earn rewards through staking. APE…

ADA Hits All-Time Low on Friday, MATIC Extends Recent Downtrend – Market Updates Bitcoin News

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Cardano fell to an all-time low on Friday, as sentiment in crypto markets remained bearish in today’s session. The token fell for a third consecutive day, with prices moving below a key price floor in the process. Polygon also extended recent declines, hitting a multi-week low as a result. Cardano (ADA) Cardano (ADA) hit an all-time low in today’s session, as sentiment in cryptocurrency markets remains bearish, following recent economic data. ADA/USD dropped to an intraday low of $0.2845 earlier in today’s session, less than a day after trading at…

Judge Overseeing FTX Bankruptcy Says News Orgs. Can Argue to Unseal Creditor List

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Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News

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The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. Mazars Group Pauses Crypto Company Audits, Binance POR Scrubbed From the Web Reports detailed on Dec. 16, 2022, that the accounting firm Mazars Group has paused doing POR audits for cryptocurrency exchanges. On Friday, a Binance spokesperson told CNBC that “Mazars has…

BTC Below $17,000, as ETH Nears $1,200 Breakout – Market Updates Bitcoin News

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Bitcoin fell below $17,000 on Dec. 16, as bearish pressure continued to intensify following yesterday’s disappointing U.S. retail sales figures. Sales in the United States were down by 0.6%, which news came less than 24 hours after the Federal Reserve moved to hike interest rates. Ethereum moved closer to the $1,200 level in today’s session. Bitcoin Bitcoin (BTC) fell below $17,000 in today’s session, as markets continued to react to last month’s retail sales data. As retail sales in the United States disappointed, BTC/USD slipped to an intraday low of…