Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

Binance Exec: DeFi Could End Centralized Exchange

Altszn.com by Altszn.com
December 2, 2022
in Blockchain, Crypto, DeFi, Web3
0
Binance Exec: DeFi Could End Centralized Exchange
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


Binance is reportedly working on “proof of reserves” to reassure customers after FTX’s collapse. 

Also, a company executive said that with the emergence of decentralized finance (DeFi), Binance’s centralized exchange may not exist in 10 years. 

With rival cryptocurrency exchange FTX having gone bankrupt, Binance wants to implement a way to show its own customers that their assets are fully backed, CoinDesk reported Thursday (Dec. 1). 

“It will be a multistep process, including bringing in a third-party auditor,” Binance Chief Strategy Officer Patrick Hillman said, per the report. “It takes time to go and be able to conduct an audit of the scope and scale that is required of Binance.” 

The implementation will take time because Binance is almost larger than the combined totals of the New York, London and Tokyo stock exchanges, Hillman said, according to the report. 

Still, the firm is working on its Merkle Tree analysis that will enable its customers to verify their assets on the platform, the report said. 

“In the end the marketplace is going to mandate this,” Hillman said. “That’s it. There’s no ifs, ands or buts about it.” 

In another effort to settle a cryptocurrency industry that has been reeling from the collapse of FTX, Binance CEO Changpeng Zhao has pledged to set up a crypto recovery fund that would “help projects who are otherwise strong but in a liquidity crisis.” 

“Crypto is not going away,” Zhao wrote when announcing the plan. “We are still here. Let’s rebuild.” 

Zhao said days later that the proposal had already drawn a positive response from firms interested in contributing, though he declined at the time to name the organizations or detail the anticipated size of the fund or the amount Binance would contribute. 

“There are players that have strong financials and we should band together; we’ve got significant interest so far,” Zhao said, Reuters reported Nov. 16. 

How Consumers Pay Online With Stored Credentials
Convenience drives some consumers to store their payment credentials with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 U.S. consumers to analyze consumers’ dilemma and reveal how merchants can win over holdouts.



Read More: news.google.com

Tags: BinancecentralizedDeFiExchangeExec
ADVERTISEMENT

Recent

Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE

Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE

May 18, 2025
There can never be too many L2s

There can never be too many L2s

May 18, 2025
Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

May 18, 2025

Categories

  • Bitcoin (4,783)
  • Blockchain (11,280)
  • Crypto (9,218)
  • Dark Web (536)
  • DeFi (8,329)
  • Ethereum (4,837)
  • Metaverse (7,394)
  • Monero (284)
  • NFT (1,407)
  • Solana (5,016)
  • Web3 (20,532)
  • Zcash (499)

Category

Select Category

    Advertise

    Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

    Useful Links

    Advertise
    DMCA
    Contact Us
    Privacy Policy
    Shipping & Returns
    Terms of Use

    Resources

    Exchanges
    Changelly
    Web3 Jobs

    Recent News

    Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE

    Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE

    May 18, 2025
    There can never be too many L2s

    There can never be too many L2s

    May 18, 2025

    © 2022 Altszn.com. All Rights Reserved.

    No Result
    View All Result
    • Home
      • Home – Layout 1
      • Home – Layout 2
      • Home – Layout 3

    © Altszn.com. All Rights Reserved.

    • bitcoinBitcoin (BTC) $ 105,732.00
    • ethereumEthereum (ETH) $ 2,440.06
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.40
    • bnbBNB (BNB) $ 646.57
    • solanaSolana (SOL) $ 169.29
    • usd-coinUSDC (USDC) $ 0.999901
    • dogecoinDogecoin (DOGE) $ 0.227217
    • cardanoCardano (ADA) $ 0.747322
    • tronTRON (TRX) $ 0.266711
    • staked-etherLido Staked Ether (STETH) $ 2,436.70
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 105,355.00
    • suiSui (SUI) $ 3.84
    • chainlinkChainlink (LINK) $ 15.60
    • wrapped-stethWrapped stETH (WSTETH) $ 2,925.98
    • avalanche-2Avalanche (AVAX) $ 22.62
    • stellarStellar (XLM) $ 0.289666
    • hyperliquidHyperliquid (HYPE) $ 26.57
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.193936
    • leo-tokenLEO Token (LEO) $ 8.67
    • bitcoin-cashBitcoin Cash (BCH) $ 403.42
    • the-open-networkToncoin (TON) $ 3.13
    • litecoinLitecoin (LTC) $ 98.91
    • polkadotPolkadot (DOT) $ 4.69
    • usdsUSDS (USDS) $ 0.999834
    • wethWETH (WETH) $ 2,432.27
    • moneroMonero (XMR) $ 337.67
    • bitget-tokenBitget Token (BGB) $ 5.16
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • wrapped-eethWrapped eETH (WEETH) $ 2,611.46
    • pepePepe (PEPE) $ 0.000013
    • pi-networkPi Network (PI) $ 0.744576
    • ethena-usdeEthena USDe (USDE) $ 0.999984
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,769.00
    • whitebitWhiteBIT Coin (WBT) $ 30.27
    • bittensorBittensor (TAO) $ 416.48
    • daiDai (DAI) $ 1.00
    • uniswapUniswap (UNI) $ 5.97
    • aaveAave (AAVE) $ 225.78
    • nearNEAR Protocol (NEAR) $ 2.78
    • aptosAptos (APT) $ 5.10
    • okbOKB (OKB) $ 52.95
    • jito-staked-solJito Staked SOL (JITOSOL) $ 204.06
    • ondo-financeOndo (ONDO) $ 0.934198
    • crypto-com-chainCronos (CRO) $ 0.098243
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • kaspaKaspa (KAS) $ 0.110297
    • tokenize-xchangeTokenize Xchange (TKX) $ 35.52
    • ethereum-classicEthereum Classic (ETC) $ 18.42
    • bitcoinBitcoin (BTC) $ 105,732.00
    • ethereumEthereum (ETH) $ 2,440.06
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.40
    • bnbBNB (BNB) $ 646.57
    • solanaSolana (SOL) $ 169.29
    • usd-coinUSDC (USDC) $ 0.999901
    • dogecoinDogecoin (DOGE) $ 0.227217
    • cardanoCardano (ADA) $ 0.747322
    • tronTRON (TRX) $ 0.266711
    • staked-etherLido Staked Ether (STETH) $ 2,436.70
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 105,355.00
    • suiSui (SUI) $ 3.84
    • chainlinkChainlink (LINK) $ 15.60
    • wrapped-stethWrapped stETH (WSTETH) $ 2,925.98
    • avalanche-2Avalanche (AVAX) $ 22.62
    • stellarStellar (XLM) $ 0.289666
    • hyperliquidHyperliquid (HYPE) $ 26.57
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.193936
    • leo-tokenLEO Token (LEO) $ 8.67
    • bitcoin-cashBitcoin Cash (BCH) $ 403.42
    • the-open-networkToncoin (TON) $ 3.13
    • litecoinLitecoin (LTC) $ 98.91
    • polkadotPolkadot (DOT) $ 4.69
    • usdsUSDS (USDS) $ 0.999834
    • wethWETH (WETH) $ 2,432.27
    • moneroMonero (XMR) $ 337.67
    • bitget-tokenBitget Token (BGB) $ 5.16
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • wrapped-eethWrapped eETH (WEETH) $ 2,611.46
    • pepePepe (PEPE) $ 0.000013
    • pi-networkPi Network (PI) $ 0.744576
    • ethena-usdeEthena USDe (USDE) $ 0.999984
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,769.00
    • whitebitWhiteBIT Coin (WBT) $ 30.27
    • bittensorBittensor (TAO) $ 416.48
    • daiDai (DAI) $ 1.00
    • uniswapUniswap (UNI) $ 5.97
    • aaveAave (AAVE) $ 225.78
    • nearNEAR Protocol (NEAR) $ 2.78
    • aptosAptos (APT) $ 5.10
    • okbOKB (OKB) $ 52.95
    • jito-staked-solJito Staked SOL (JITOSOL) $ 204.06
    • ondo-financeOndo (ONDO) $ 0.934198
    • crypto-com-chainCronos (CRO) $ 0.098243
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • kaspaKaspa (KAS) $ 0.110297
    • tokenize-xchangeTokenize Xchange (TKX) $ 35.52
    • ethereum-classicEthereum Classic (ETC) $ 18.42