Altcoin News by Thebittimes.Com

Justin Sun, the founder of the Tron blockchain, contested the UN report’s assertions on USDT, pointing out factual inconsistencies and affirming Tron’s dedication to maintaining blockchain integrity. The UN report highlighted concerns over the misuse of blockchain technology, focusing on the role of USDT in money laundering and scams, particularly in Southeast Asia. In a Jan. 19 X post, Sun acknowledged these concerns but disputed certain details related to USDT transactions on Tron’s TRC-20 protocol. He emphasized Tron’s dedication to working against blockchain misuse while also pointing out inaccuracies in the UN’s findings. As an individual serving as a diplomatic ambassador in international institutions (UN, WTO), I am deeply aware of the importance of blockchain technology for global cooperation. At the same time, education of blockchain knowledge are particularly important. #TRON and @HTX_DAO are… https://t.co/jwloiDygzY — H.E. Justin Su...

The failure of several crypto currency-related businesses prompted a newfound fear among users. To combat this, many platforms began sharing their proof-of-reserves reports over the last couple of months. Prominent exchange, OKX went on to publish its third monthly PoR report earlier today. The firm highlighted how it currently holds billions in Bitcoin, Ethereum, and stablecoin Tether [ USDT ]. While this is OKX’s third report, it is the first to include a “more detailed asset balance dashboard.” According to this, the exchange is over-collateralized with $7.5 billion in reserves. The reserve ratio does not include OKX’s native token OKB. With 1:1 reserves, the reserve ratios are 105% for Bitcoin, 105% for Ether, and 101% for USDT . Source While the reserve ratio for Bitcoin and Ethereum are the same, that of USDT is quite lower. OKX’s user asset holdings for Bitcoin are at 117,682 while its wallet assets are at 123,914. For Ethereum, on the o...