Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in the space. Carter published a detailed examination of the quality of several exchanges’ proof-of-reserves (PoR). The crypto executive used parameters such as attestation to assets held and a disclosure of liabilities, incorporating a third-party auditor, demonstrating credibility by taking a PoR for all assets and committing to an ongoing procedure to determine which PoRs are of the best quality. Crypto trading platforms Kraken and BitMEX topped the list. According to Carter, Kraken, …

Publicly listed Bitcoin (BTC) miners sold off almost 100% of all the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created "a persistent headwind" for the Bitcoin price or not. Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet which indicated that approximately 40,300 of the 40,700 BTC mined by Core Scientific, Riot, Bitfarms, Cleans Park, Marathon, Hut8, HIVE, Iris Energy, Argo and Bit Digital from Jan. 1 to Nov. 30 was sold off. BTC miners sell roughly 100% of the coins they mine The 10 public bitcoin …

Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks the worst might be over for Bitcoin (BTC) this cycle as the "largest most irresponsible entities" have run out of BTC to sell. "Looking forward, pretty much everyone who could go bankrupt has gone bankrupt,” he said in the Dec. 11 interview with crypto advocate and podcaster Scott Melker. Hayes elaborates on his stance by explaining that when centralized lending firms (CELs) have financial troubles, they will often call in loans first, then sell BTC first because it operates as the “reserve asset of crypto” and “the most pristine …

As the FTX collapse continues to cause turmoil in the crypto industry, various crypto exchanges have delisted FTX Token (FTT) on their platforms. In an announcement, crypto exchange Binance highlighted that they have removed the FTT/BTC, FTT/BNB, FTT/ETH and FTT/USDT trading pairs on their platform citing that the pairs failed to pass their recent reviews. However, the exchange noted that the FTT/BUSD pair is still available on its exchange. At #Binance we conduct regular reviews of listed assets to ensure they meet our standards to protect our users. Based on our recent reviews, we will remove and cease trading of …

The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note some are bucking the trend. Crypto companies, including crypto exchanges, venture capital firms, and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the down markets. Some, however, have done the opposite, opening up offices in new locations and markets. It comes a few weeks after multiple high-level executives, such as OpenSea’s former CFO, Kraken's co-founder Jesse Powell, and Ripple Labs’ engineering director, have all made headlines for either …

Arthur Hayes, the former CEO of crypto derivatives giant BitMEX, believes the next crypto bull run will start when China moves back into the market, and Hong Kong has a vital part to play in this process. In his Oct. 26 blog post titled "Comeback", Hayes outlined why he thinks the Hong Kong government's announcement about introducing a bill to regulate crypto is a sign China is trying to ease its way back into the market. This could be because Hong Kong acts as “the proxy through which China interacts with the world." “When China loves crypto, the bull market …

In a recent interview, BitMEX chief executive Alexander Höptner shared his thoughts about institutional investors who, in his view, still have an appetite for crypto and Ethereum. Speaking at the Token2049 conference in Singapore on Sept. 28, the crypto executive told Cointelegraph that there has not been a “single slowdown of institutional push into crypto” during this bear market. He added that institutions and finance industry players typically use bear markets for innovation. There is a lot more pressure to deliver in a bull market, but bear markets offer the luxury of more time. Höptner also commented that adoption for …

Another top executive joins three co-founders of the crypto exchange BitMEX, pleading guilty in the United States District Court for the Southern District of New York. The court case under the headline "U.S. v. Hayes et al." goes on for two years, with BitMEX management being indicted for violating the U.S. Bank Secrecy Act. According to the Wall Street Journal, on Aug. 8, a one-time head of business development at BitMEX, Gregory Dwyer, admitted his guilt of violating the Bank Secrecy Act in court. As part of a plea deal, Dwyer would pay a $150,000 fine. As Manhattan Attorney Damian …

Major cryptocurrency exchange BitMEX is working to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions for its Russian users. BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union, Cointelegraph has learned. The BitMEX crypto exchange notified a group of potentially affected users about the upcoming changes via email on Monday. According to an email seen by Cointelegraph, Russian citizens or residents will no longer be able to access BitMEX services from the European Union after July 11, 2022. That means that such users will not …

Benjamin Delo, co-founder of cryptocurrency exchange BitMEX, has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an Anti-Money Laundering (AML) law. The sentence, handed down at a federal court in New York on Wednesday, follows his guilty plea to charges in February of “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program” in his role at BitMEX. Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation and six months of home detention, as was given to former CEO Arthur Hayes in May. …

Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes. Arthur Hayes, along with the other BitMEX co-founders Benjamin Delo and Samuel Reed, and the company’s first non-employee Gregory Dwyer, pleaded guilty to the Bank Secrecy Act (BSA) violations on Feb 24, admitting to “willfully failing to establish, implement, and maintain an anti-money laundering (“AML”) program at BitMEX.” Pleading guilty to supporting money laundering is a punishable …

Has there ever been a worse time to be in crypto? It depends on how you look at it. Amid Terra’s death spiral, Bitcoin (BTC) recording seven-consecutive weekly red candles, over $1 trillion in lost market cap across the ecosystem and an aggressive Federal Reserve hell-bent on reversing the chaos it created, major banks are quietly increasing their exposure to the sector. You’re going to love this: Goldman Sachs — once the most passionate Bitcoin detractors — and Barclays are doing some strategic buying as they prepare for the future of crypto trading. Early polling from Terra vote indicates 91% …