Features Today TheBitTimes.com

A 10-year historical trend has shifted for Bitcoin (BTC) exchange reserves . In the last three years, investors have been making more Bitcoin withdrawals than deposits on cryptocurrency exchange s. It is important to understand that BTC deposited on an exchange could become selling pressure at any time. This speculative supply offers an imminent sell-off threat that could negatively affect Bitcoin’s price action by neutralizing an incoming speculative demand. Moreover, when holders deposit their coins into an exchange, it is usually interpreted as an intention to sell. On the other hand, withdrawing to a self-custody Bitcoin wallet signals the opposite: An intention to “HODL.” Notably, from 2013 to 2020 Bitcoin exchange reserves have consistently grown, with investors and miners increasingly depositing BTC to trade or sell. However, a chart retrieved from CryptoQuant Pro shows the trend shift that has happened since the end of 2020. Bitcoin: Exchange reserve – All exchanges...

OKX’s eleventh Proof-of-Reserves report reveals marked growth in user-held assets and incorporates ETH 2.0 staking data for the first time. Leading crypto exchange OKX has unveiled its eleventh Proof-of-Re serves (POR) certificate. The latest disclosure reveals significant uptrends in user-held assets, especially in the realm of Bitcoin (BTC) and Ethereum (ETH). For the first time, the exchange’s POR report incorporates figures related to ETH 2.0 staking , accounting for a staggering 41.8% surge in user ETH assets. A deeper dive: understanding the numbers The current disclosure shows the exchange holds a BTC reserve ratio of 102%. The total BTC assets held by users stood at 142,635, marking an increase of 7,376 BTC since the previous report.  Most notably, the report includes ETH 2.0 staking data for the first time. The ETH reserve ratio is 103%. User-held ETH assets have skyrocketed to 1,370,982, a 41.8% growth driven in part by the inclusion of ETH 2.0 stakin...

Former members of the now-defunct FTX.US accounting team, now operating as The Network Firm, have conducted the attestation of TrueUSD’s proof-of-reserves (PoR) as the stablecoin seeks to regain stability following a brief de-pegging incident. TrueUSD , the embattled stablecoin, has undergone an audit of its PoR. The task was entrusted to The Network Firm. The team responsible for this attestation previously collaborated with the disgraced Sam Bankman-Fried on the books for FTX.  The Network Firm emerged from Armanino’s digital-asset practice, which halted its crypto audits last year, illustrating the challenges crypto firms face in obtaining audits and reserve attestations from established accounting firms. Notably, Mazars also suspended its proof -of -reserves work for crypto clients. You might also like: Binance auditor Mazars suspends crypto-related client work TrueUSD has encountered several setbacks of late, including a temporary pause in minting tokens...