China News Daily Official TheBitTimes.com

Ripple, the largest XRP holder, sold 150 million tokens from this month’s sell- off reserves on May 13. The sale is worth $75 million, representing 0.25% of XRP’s $28 billion capitalization with the token at $0.50. On May 1, the company released 1 billion XRP from the initial distribution, locked in monthly escrows until 2027. Ripple then sent 200 million XRP to its treasury account and locked the remaining 800 million in new escrows. As usual, the selling activity resulted from the treasury account, labeled Ripple (1) , sending tokens to the unlabeled account rP4X2…sKxv3 . This action causes XRP supply inflation—by putting tokens that have never circulated before into circulation for the first time. Picks for you Who will be the first trillionaire? 45 mins ago We asked ChatGPT-4o what will be Gold price at the end of 2024; Here’s what it said 1 hour ago President Biden blocks Chinese-backed crypto miner near Wyoming nuclear site 1 hour ago Co...

An independently verifiable audit confirmed that Bybit’s cryptocurrency reserves range from 100% to 124% of what is owed to customers. Cryptocurrency exchange Bybit has expanded its proof -of -reserves audit to include 32 different cryptocurrencies, according to a Dec. 20 press release. This audit verifies that Bybit’s reserves match or exceed the assets held by customers on the exchange. The audit affirmed that Bybit’s cryptocurrency reserves range from 100% to 124% of the balance owed to customers. This indicates that the exchange holds sufficient collateral to back all assets under management. You might also like: OKX celebrates 1 year anniversary of proof of reserves Bybit utilizes a multi-tier wallet system comprising cold, warm, and hot wallets to securely store digital assets. The exchange has partnered with cryptocurrency custodians Fireblocks and Copper to reinforce asset protection protocols. The expanded proof-of-reserves aligns with Bybit...