Michael Burry, the founder of the investment company Scion Asset Management. And a well-known investor, said on Friday that proof-of-reserves (POR) audits of cryptocurrency exchanges such as Binance and the defunct exchange FTX are pointless. Furthermore, Burry is regarded as the first investor to correctly predict and benefit from the
The substantial reduction in the Shiba Inu (SHIB) circulating supply has been caused by the quantity of SHIB burnt in the recent hour. More tokens have been burnt in the past 24 hours than in the previous day. The Shibburn community burnt 1,500,000 SHIB tokens in a single transaction in
The blockchain-focused venture capital firm Fenbushi Capital US has led Amber group’s new $300 million Series C investment round, the business announced on Twitter on December 15. As a result of the FTX collapse, Amber has opted to delay its Series B fundraising. And go through with its Series C
More and more humanitarian organizations are turning to blockchain technology to address issues like a lack of financial infrastructure or poor identification verification in conflict- or developing-zone countries. In December, two new initiatives were announced. One gives financial assistance to Ukrainian refugees via the Stellar network. While the other intends
Following the demise of the FTX exchange. The crypto sector across the globe has been dealt with a stringent hand in terms of regulations. Incoming FCA chair Ashley Alder is the most recent person to comment on the sector. On December 14th, he warned MPs that cryptocurrency platforms enabled widespread
The Prudential Treatment of Cryptoasset Exposure Report, December 2022, was recently published by the Bank for International Settlements (BIS). According to the latest policy announcement, financial institutions may now keep 2% of their reserves in cryptocurrency. The new policy, which allows banks to store 2% of their reserves in cryptocurrency,
On Friday, the US Department of Justice (DOJ) stated that Karl Sebastian Greenwood, an associate of “Cryptoqueen” Ruja Ignatova and the co-founder of OneCoin, had pled guilty to federal counts of wire fraud and money laundering in connection with the OneCoin scandal. U.S. Attorney Damian Williams stated: “As a founder
Warner Music Group, an American media and music giant, has recently expanded its metaverse approach by forming a relationship and investing in DressX, a digital clothing company. In accordance with the terms of the deal. Warner Music artists will be able to work with DressX directly. In order to create
Binance, a cryptocurrency exchange, said on Friday that its auditor, Mazars, has ceased services for cryptocurrency enterprises, including cryptocurrency exchanges, as reported by Bloomberg. A representative for Binance claims that the French accounting firm Mazars would not provide services, such as proof of reserves, to cryptocurrency exchanges. Binance, KuCoin, and
In response to B. Riley’s $72 million investment. Shares of Core Scientific, a Bitcoin mining company, have more than doubled in price during the previous 48 hours, from $0.15 to $0.46. Core Scientific, one of the major crypto-mining corporations in the United States, has had a disappointing year, prompting this
