FTX’s Bankruptcy Hearing, Binance Withdrawals Surge, Gemini Data Breach | Cointime Weekly Dec.11 – Dec.17
How is Sam Bankman-Fried's first-week jail life going? Binance CZ might face criminal charges. Canada, Australia, and France tighten crypto regulations. Amber Group completed a $300M Series-C round
Big Short Investor Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’
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.”
Kevin O’Leary Blames CZ Binance for FTX Collapse, This Is How Ripple CTO Reacts
When asked about why FTX failed, O’Leary channeled all the blame on CZ Binance, claiming that the Binance exchange is unregulated.
Binance CEO: Exchange Assets Are Backed One-to-One, No Liquidity Crunch
The CEO of leading cryptocurrency exchange Binance, Changpeng ‘CZ’ Zhao, has recently defended that the exchange holds customer assets backed one-to-one that it isn’t facing a liquidity crunch during a run on the bank.
The (Actual) Truth About FTX Revealed by Mr. Gullible
Mr. Gullible is portraying SBF and FTX of being victims. On the contrary, FTX/Alameda Research operated their companies poorly and committed fraud.
BNB Plummets as Binance Auditor Mazars Halts Work With All Crypto Firms
In a statement with Bloomberg, Binance said that “Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin, and Binance.”
Binance CEO Explains Why Exchange Won’t Refund Mithril 200,000 BNB After Delisting
Binance CEO Changpeng Zhao explained why the exchange chose not to refund the deposit of 200,000 BNB to Mithril after delisting its token yesterday.
Binance Proof-of-Reserves Removed From the Auditor’s Site
Crypto exchange Binance has seen its proof-of-reserve (PoR) audits removed from the auditor Mazars’ website.
Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients
Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients, Binance said in an emailed statement.
Binance Reserves are Not Showing ‘FTX-like’ Behaviour — CryptoQuant
CryptoQuant has scrutinised Binance’s reserves on-chain and concluded that they are not showing ‘FTX-like behaviour at this point.’
