Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.
Binance’s U.S. wing has received court approval to buy Voyager Digital’s crypto platform for US$20 million, as part of Voyager’s plan to liquidate in bankruptcy.
Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.
Bitcoin and Ether gained in Tuesday trading in Asia along with most other top 10 non-stablecoin cryptocurrencies, helped by signs inflation pressure is easing in the U.S.
Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.
The U.S. SEC has objected to Binance’s U.S. affiliate’s proposed US$1 billion purchase of bankrupt crypto lender Voyager Digital’s assets.
Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.
The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.
Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto, according to a CNBC report
Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.