Leading crypto exchange Binance has announced the release of its new "Proof of Reserves System," used to verify its BTC holdings.
November 25, 2022 | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $16,467 | Bitcoin price had a quiet day of trading on Thanksgiving, as price movement dwindled alongside a closed stock market. | Top-20 altcoins were slightly more exciting, as Ethereum dropped 1%, Dogecoin rallied 8% and WBTC drifts slightly from its Bitcoin peg. | Top Stories for November 25, 2022 🔥 | | Leading crypto exchange Binance has announced the release of its new "Proof of Reserves System," which can be used to verify its Bitcoin holdings. | Although Bitcoin its the only cryptocurrency currently observable through the system, Binance plans to expand it to additional coins within the next few weeks. | Proof-of-reserves has become an increasingly important topic over the last several weeks, with several centralized entities being exposed for insolvency. | | The Belgian Financial Services and Markets Authority (FSMA) has ruled that Bitcoin and Ether are not securities, since they have "no issuer." | The FSMA determined that crypto assets without an issuer, such as those created by computer code, should be exempt from securities regulation – however other regulations may apply if the asset has a payment or exchange function. | Due to this, virtual asset provider rules may still apply to Bitcoin and Ether in the country, which are largely designed as anti money laundering precautions. | | The number of "wholecoiner" addresses has hit a new all-time high, with over 950,000 wallets now holding 1 whole Bitcoin or more. | The new high has coincided with a mass exodus from exchanges, as crypto holders seek to reduce their exposure to centralized entities – opting for self-custody instead. |
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