Cointime

Download App
iOS & Android

CZ Binance Confirms Upcoming Collaboration with Vitalik Buterin to Develop Proof-of-Reserves Protocol

Changpeng Zhao (CZ), the founder and CEO of Binance, revealed on Monday that Ethereum co-founder Vitalik Buterin is on the cusp of developing a proof-of-reserves protocol, in which Binance would serve as its first test case.

CZ said this in an AMA (Ask Me Anything) held on Twitter on Monday. He stated that he recently spoke with Buterin who is currently planning on developing “some type of new proof-of-reserve protocol.”

Zhao also assured customers that Binance did not have loans or debt, stating that the exchange rely solely on third-party market makers for liquidity.

(By Solomon Odunayo)

Comments

All Comments

Recommended for you

  • Trump: Plans to impose 25% tariffs on Canadian and Mexican goods starting February 1

    On January 30th local time, US President Trump stated that he plans to fulfill his promise of imposing a 25% tariff on imported goods from Mexico and Canada on February 1st, and will decide whether to include oil in the list of goods subject to tariffs on the evening of January 30th. On January 20th, when signing a series of executive orders in the Oval Office of the White House, Trump told the media that he is considering imposing a 25% tariff on Mexico and Canada, and the tax may be implemented from February 1st this year. (CCTV News)
  • Arresters of South Korean President Yoon Seok-yeol clash with guards

    after attempting to arrest President Yoon Suk-yeol, Korean senior government officials from the Crime Investigation Department (CID) had a confrontation and physical conflict with security personnel inside the presidential residence today (January 3). The arresting officers have already passed through the main gate of the residence, but have not yet entered the building where Yoon Suk-yeol is located. 
  • Are we finally ready for a gas limit increase?

    There has been growing discussion around the possibility of increasing Ethereum’s gas throughput, either by raising the gas limit or reducing slot time. The key argument in favor of this is that the hardware requirements for running a validator have steadily decreased over the past four years.
  • Cointime August 17th News Express

    1.VanEck and 21Shares Solana ETF Form 19b-4 Suspected to be Removed from CBOE Website
  • Ethereum network gas fee falls back below 1 gwei

    According to Etherscan data, the current Ethereum network gas fee has fallen below 1 gwei, currently at 0.937 gwei.
  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts
  • Cointime August 10th News Express

    1. The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs
  • Ethereum ACDC #139: Pectra's Devnet 2 upgrade is under debugging, and the release date of Devnet 3 is still to be determined

    Christine Kim, Vice President of Galaxy Research, summarized the main content of the 139th ACDC conference call. The debugging of Pectra's upgraded Devnet 2 is currently underway, and the release date of Devnet 3 is yet to be determined. Developers will hold weekly testing update meetings starting from Monday to better coordinate the release of Pectra's Devnet. The decision to include EIP-7688 in Pectra's upgrade has been postponed again.
  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.