Bitcoin News Official TheBitTimes.com

Tokenization has the potential to be transformative for businesses and consumers alike — but there are regulatory and technical hurdles to consider. Entering the “token era” remains a significant leap into uncharted territory for companies, but this doesn’t have to be the case. Brickken, an up-and-coming tokenizing solution, now helps companies to create digital tokens backed by real-world assets –– with zero downtime and instant execution. Cryptocurrencies dominated the 2010s — and so far, artificial intelligence (AI) is the theme of the 2020s. But there’s another buzzword that’s gaining traction, too: tokenization . While there have been major trade innovations over recent decades, New York remains rooted in tradition, with the stock market only open between 9.30 am and 4 pm on weekdays. That’s at odds with the 24/7, digital nature of the 21st-century economy — a world where business never sleeps and TikTok posts carry more influence than newspaper columns. To match that speed of ...

Eligible creditors will not be able to withdraw their funds from Celsius unless they update their accounts with AML and KYC data. Bankrupt cryptocurrency lending firm Celsius had come up with a withdraw al process for users who had their crypto in its custody when it stopped withdraw als in June 2022. Celsius released an official update on upcoming withdrawals on Jan. 31, providing the list of users that will be eligible to withdraw approximately 94% of eligible custody assets. The firm laid out the process in a 1,411-page court filing with the United States Bankruptcy Court for the Southern District of New York, listing the full names of all the eligible users alongside the type and amount of debted crypto assets. Celsius stressed that eligible users will be asked to update their Celsius account with certain required information prior to any withdrawals being processed. The requested information includes customer data related to Anti-Money Laundering and Know Your Customer policies ...

According to blockchain analytics firm CryptoQuant, OKX has the largest clean asset reserves of all the major exchanges. Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.” OKX claims to maintain 1:1 reserves, which would mean means the company’s on-chain assets 100% match the customer‘s balances. The report shows current reserve ratios of 105% for BTC, 105% for ETH and 101% for USDT. The term “clean” is used in proof s of reserve s to describe crypto asset s that do not include an exchange's platform tokens and are purely made up of high-market-capitalization crypto asset s, such as BTC, ETH and USDT. CryptoQuant monitors PoRs across the industry. A clean reserve is defined by the firm as: “A clean reserve is the total reserve of each exchange...

Previously, FTX US was the largest bidder for the firm's assets, with an offer of $1.4 billion. According to a new press release published on Dec. 19, cryptocurrency exchange Binance.US will acquire assets of bankrupt crypto lender Voyager Digital for $1.022 billion. After a review of strategic options, the firm said that Binance.US represented the "highest and best bid for its assets ." The $1.022 billion bid is comprised of the fair market value of Voyager's cryptocurrency portfolio at a to-be-determined date in the future, along with an additional consideration equal to $20 million of incremental value. "The Company's claims against Three Arrows Capital remain with the bankruptcy estate, and any future recovery on these and other non-released claims will be distributed to the estate's creditors. The Binance.US bid aims to return crypto to customers in kind, in accordance with court-approved disbursements and platform capabilities." The deal i...