Markets & Business
Innovation & Launches
Binance will start to do proof-of-reserves soon (1 minute read)
Binance will soon introduce Merkle-tree proof of reserves in the interest of full transparency. A Merkle tree is a data structure used by blockchains to store transaction data. A proof of reserve system would use public blockchain data to prove that exchange users' crypto holdings are safe.
Wintermute-Backed DEX Bebop Launches on Polygon (2 minute read)
Bebop has launched on Polygon. The decentralized exchange allows users to trade a basket of tokens in a single transaction. Bebop chose to launch on Polygon due to its low fees, high speed, and sustainable Proof-of-Stake model. Polygon recently announced partnerships with Meta and JPMorgan.
Guides & Resources
Helios (GitHub Repo)
Helios is a fully trustless and portable Ethereum light client. It is lightweight enough to be run on mobile devices. Helios syncs in seconds and requires no storage.
Why FTX chose Binance (3 minute read)
FTX could have sought emergency debt financing, new money investment, liquidated its assets, or otherwise bought more time, but instead it chose to let Binance buy it out. It is likely that FTX was lending out customer funds to Alameda. The exchange was unable to meet the large number of withdrawals, and its debt probably was so large that it couldn't be covered by other financiers. FTX under Binance's management will likely be looking to recover its loans to Alameda.
America’s slow-moving, confused crypto regulation is driving industry out of US (12 minute read)
Innovation in digital payments is slow because regulators have yet to set clear standards on what is and isn't allowed. The lack of regulatory clarity also slows down mainstream adoption. Legislators are unsure how to regulate digital assets because they don't know how they are used, both legally and illegally. Companies are choosing to test technologies in countries with clearer rules to avoid regulatory issues.
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