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Crypto exchange HTX, previously known as Huobi, has unexpectedly deactivated its proof-of-reserves feature. This observation was noted today by popular fintech analyst Adam Cochran, Managing Partner at Cinneamhain Ventures. This development coincides with issues faced by the stablecoin TrueUSD (TUSD), reportedly linked to HTX stakeholder Justin Sun, struggling to stay aligned with its intended $1 value for over two weeks.  Cochran also noted that live data from DefiLlama showed that HTX only had $120 million in ETH holdings, although the latest audit reported nearly $300 million.  2/8 Their live reporting on DefiLlama shows only about $120M in ETH assets despite their last audit claiming closer to $300M in raw ETH. pic.twitter.com/JFBqADzq27 — Adam Cochran (adamscochran.eth) (@adamscochran) January 26, 2024 You might also like: Spot Bitcoin ETFs see $80m net outflows on Thursday Earlier today, HTX’s proof- of -reserves webpage displayed no information regard...

Binance’s bitcoin reserves have depleted by $200 million in the wake of the crypto exchange and its ex-chief Changpeng Zhao (CZ) pleading guilty to federal charges in the US — while CZ has paid bond, prosecutors are fighting for him to remain in the country until he can be sentenced. According to CryptoQuant, on-chain data shows that mass amounts of Bitcoin is flowing from Binance to Coinbase. Binance ’s Bitcoin reserves have dropped by 5,000 BTC ($187 million). Meanwhile, Coinbase’s reserves are up by 12,000 BTC ($450 million). Binance has historically used its bitcoin reserves to prop up the price of its proprietary token, BNB, according to the Securities and Exchange Commission (SEC) and several crypto analysts. Both CZ and Binance vehemently deny the claims. Seven-day price chart of BNB. Read more: Does Binance chief CZ need the price of BNB to stay above $200? The price of BNB took a -14% plunge following news of the settlement and CZ ’s r...