Binance Publishes Merkle Tree Proof-Of-Reserves – November 25

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,467

Bitcoin price had a quiet day of trading on Thanksgiving, as price movement dwindled alongside a closed stock market.

Top-20 altcoins were slightly more exciting, as Ethereum dropped 1%, Dogecoin rallied 8% and WBTC drifts slightly from its Bitcoin peg.

Top Stories for November 25, 2022 πŸ”₯

πŸ‘‰ Binance Publishes Merkle Tree Proof-Of-Reserves

Leading crypto exchange Binance has announced the release of its new “Proof of Reserves System,” which can be used to verify its Bitcoin holdings.

Although Bitcoin its the only cryptocurrency currently observable through the system, Binance plans to expand it to additional coins within the next few weeks.

Proof-of-reserves has become an increasingly important topic over the last several weeks, with several centralized entities being exposed for insolvency.

πŸ‘‰ Belgian Financial Regulator Rules BTC & ETH Are Not Securities

The Belgian Financial Services and Markets Authority (FSMA) has ruled that Bitcoin and Ether are not securities, since they have “no issuer.”

The FSMA determined that crypto assets without an issuer, such as those created by computer code, should be exempt from securities regulation – however other regulations may apply if the asset has a payment or exchange function.

Due to this, virtual asset provider rules may still apply to Bitcoin and Ether in the country, which are largely designed as anti money laundering precautions.

πŸ‘‰ Almost 1 Million Addresses Now Hold At Least 1 BTC

The number of “wholecoiner” addresses has hit a new all-time high, with over 950,000 wallets now holding 1 whole Bitcoin or more.

The new high has coincided with a mass exodus from exchanges, as crypto holders seek to reduce their exposure to centralized entities – opting for self-custody instead.