It's about time! Several crypto enthusiasts support Binance's pledge to implement a Proof-of-Reserve mechanism to provide 'full transparency' through the use of Merkle Trees.
The founder of crypto market intelligence platform Messari, Ryan Selkis, took things one step further, arguing that regulators should direct their attention to focus on the more centralized players in the industry.
The fact we are debating DeFi protocol regulation before responsible disclosures like proof-of-reserves and liquidity from the mega-funds like a16z and Alameda shows just how far off the ball we are on policy right now.But not all agreed. Antonio Juliano, founder of crypto derivatives trading platform dYdX, argued that a Proof-of-Reserves wouldn’t disclose all necessary information needed to verify an exchange’s holdings.
How do you know if the entity has outstanding loans? How do you know what contracts they’ve entered into?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX Token price risks 30% plunge as a 23M FTT 'part' moves to BinanceAlameda Research reportedly obtained $2.2 billion worth of loans using FTT as collateral, a token created by its sister company, FTX.
Read more »
Binance to liquidate its entire FTX Token holdings after ‘recent revelations’Things are getting tense in the exchange world. The CEO of Binance, Changpeng “CZ” Zhao, said his company would liquidate the entirety of its position in FTX Token.
Read more »
Bankman-Fried apologizes to FTX investors for lack of communication over Binance dealInvestors in FTX received a letter from CEO Sam Bankman-Fried that said Binance and the exchange have entered a non-binding agreement.
Read more »
These Four Key Charts Shed Light on the FTX Exchange's Spectacular CollapseFour key charts from Nansen_ai and TradingView show why FTX agreed to sell itself to bigger rival Binance. On-chain data offers a fresh perspective on FTX's liquidity crunch, illustrating how the drama escalated so quickly. reports
Read more »
Market Wrap: Binance/FTX Deal Sends Bitcoin, Other Cryptos SpiralingCrypto prices whipsawed following the announcement that exchange giant Binance would be purchasing one of its largest rivals. Bitcoin recently sank below $19K. JPRubin23, GWilliamsJr_CMT and _jocelynyang_ report
Read more »
Sen. Lummis points to FTX-Binance as catalyst for her crypto legislationSen. Lummis points to her bill with Sen. Gillibrand as providing regulations that would have prevented the FTX liquidity crunch earlier today.
Read more »