Circle updates accountant-verified proof-of-reserve
A revised proof-of-reserve report created by Circle reveals that more than $44.5 billion worth of tokens are currently in circulation. According to reports, Grant Thornton group, a third-party accounting and auditing firm, conducted an audit of the USDC’s December 2022 proof-of-reserve report. The PoR report states that as of the end of December, Circle has […]
Gemini Under Investigation Over FDIC Accusations
The New York Department of Financial Services (NYDFS) is investigating crypto exchange Gemini over claims over its claims related to FDIC. Users of Gemini Earn are due a total of $765.9 million by the insolvent Genesis. Some of these users contend that the crypto firm misled them because they thought their funds were insured by […]
Huobi Crypto exchange to lay off 20% of staff
Cryptocurrency exchange Huobi Global has announced that it will let go of almost 20% of its workforce. Huobi Global which employed over 1,600 people in October 2022, has claimed that the volatility and unpredictability of the cryptocurrency market have forced it to scale back in order to maintain its ability to operate profitably. A Huobi […]
Binance Blocks Some Accounts Amid Bitzlato Case
According to Binance, 90% of the suspended crypto accounts brought on by Bitzlato investigation have already been unblocked. In connection with the Bitzlato investigation, cryptocurrency exchange Binance has been quietly closing down a number of accounts on the platform. Several Russian-speaking Binance customers complained about blocked accounts and being unable to withdraw money from the […]
Meta Wins Ruling Against FTC In Metaverse Acquisition Plan
A federal judge in the United States has given the go-ahead for tech giant Meta to proceed with the acquisition of a virtual reality company. Judge Edward Davila of the U.S. District Court for the Northern District of California rejected the Federal Trade Commission (FTC) request for an injunction to prevent Meta from acquiring VR […]