Binance
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Binance admits flaws in maintaining its Paxos-managed BUSD stablecoin, which should be backed 1:1; ChainArgos: BUSD was undercollateralized by $1B+ in 2020-21 (Bloomberg)
Bloomberg: Binance admits flaws in maintaining its Paxos-managed BUSD stablecoin, which should be backed 1:1; ChainArgos: BUSD was undercollateralized by…
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Sources: the US attorney's office for the Western District of Washington sent subpoenas to US-based hedge funds for records of their communications with Binance (Washington Post)
Washington Post: Sources: the US attorney’s office for the Western District of Washington sent subpoenas to US-based hedge funds for…
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The US SEC files a limited objection to Binance.US' $1B bid for bankrupt crypto lender Voyager, citing insufficient details on how Binance can afford the deal (Nelson Wang/CoinDesk)
Nelson Wang / CoinDesk: The US SEC files a limited objection to Binance.US’ $1B bid for bankrupt crypto lender Voyager,…
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Changpeng Zhao confirms Binance acquired the remaining 49% stake in Indonesia's crypto exchange Tokocrypto; the unit will cut 58% of jobs and replace its CEO (Norman Harsono/Bloomberg)
Norman Harsono / Bloomberg: Changpeng Zhao confirms Binance acquired the remaining 49% stake in Indonesia’s crypto exchange Tokocrypto; the unit…
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Binance says Deloitte, E&Y, KPMG, and PwC are "currently unwilling" to conduct audits on private crypto companies, after Mazars stopped providing such audits (Casey Wagner/Blockworks)
Casey Wagner / Blockworks: Binance says Deloitte, E&Y, KPMG, and PwC are “currently unwilling” to conduct audits on private crypto…
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Binance says it was hit by roughly $6B in net withdrawals between December 12 and December 14, which it was able to fulfill "without breaking stride" (Financial Times)
Financial Times: Binance says it was hit by roughly $6B in net withdrawals between December 12 and December 14, which…
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Binance says Mazars, the auditing firm that worked on proof-of-reserves reports for Binance, Crypto.com, and others, has paused work for all crypto clients (Jamie Crawley/CoinDesk)
Jamie Crawley / CoinDesk: Binance says Mazars, the auditing firm that worked on proof-of-reserves reports for Binance, Crypto.com, and others,…
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Memo: Changpeng Zhao tells Binance staff to expect a "bumpy" several months but the exchange "will survive any crypto winter", following massive withdrawals (Bloomberg)
Bloomberg: Memo: Changpeng Zhao tells Binance staff to expect a “bumpy” several months but the exchange “will survive any crypto…
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Changpeng Zhao seeks to reassure Binance users on USDC outflows, saying they can "withdraw any other stablecoin"; Nansen shows $1.6B in ETH outflows in 24 hours (Adam James/The Block)
Adam James / The Block: Changpeng Zhao seeks to reassure Binance users on USDC outflows, saying they can “withdraw any…
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