Tag: Patrick Hillmann

Binance & Crypto.com: Proof Of Reserves Reports Are Worth Nothing & Prove Nothing, Critics Claim!

Compliance Ben - December 11, 2022

Amid Crypto Contagion following the FTX collapse, two of the world's largest crypto exchanges, Binance and Crypto.com released "Proof of Reserves (PoR)" reports. Both worked with Mazars Group, a global accounting firm. However, according to Mazars, these haven't been audit reports; they did not express an opinion or an assurance conclusion. While the PoR reports may be a good first step toward more transparency in the crypto sector, but for now, they are more of a sort of placebo to calm users.

The Great Reset – Disputed crypto exchange Binance invests $200M in Forbes!

Cryptonomics tamir - February 11, 2022

That's at least strange! The leading but highly disputed crypto exchange Binance will make a $200 million investment in Forbes, the media company announces, as it prepares to go public via a SPAC. This transaction is reminiscent of the New Economy in 2000 when the Internet company AOL acquired the Time Warner media group. It was a sign to many that the old economy was being taken over by the Internet and tech companies. Now crypto is taking on the world!

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