Daily Crypto News | December 17th, 2022
Welcome to Barmy’s Daily Crypto News – December 17th, 2022
1. Mazars Group Pauses Crypto Company Audits, Binance POR Scrubbed From the Web
The accounting firm Mazars Group reportedly stopped performing POR audits for bitcoin exchanges on December 16, 2022, according to reports. According to a spokeswoman for Binance who spoke to CNBC on Friday, “Mazars has indicated that they would temporarily suspend their work with all of its crypto clients internationally, including Crypto.com, Kucoin, and Binance.”
The news comes after Jesse Powell of Kraken recently criticized the Binance POR audited by Mazars on December 8 and on November 25. The POR of Binance has been in the news for a while, and the company has had to deal with a lot of conjecture, speculations, and FUD. Additionally, on December 13 Binance saw a substantial amount of withdrawals as more than $3 billion in funds were taken out of the exchange.
The POR for Binance appears to have been taken down by the firm. When someone tries to access the Mazars-published Binance audit, the page suddenly states that the “server cannot be located”. The Binance audit was only hosted on the Mazars website, and it was finished on November 22, 2022, at Bitcoin block height 764,327.
2. The Brazilian central bank digital currency (CBDC) could be launched in 2024
One of the nations that has made considerable strides in the area of central bank digital currency (CBDC) over the past 12 months is Brazil. The Central Bank of Brazil’s president, Roberto Campos Neto, has made a suggestion that the currency might be introduced in 2024.
This, according to Campos Neto, is feasible if the digital real’s test-trial run begins in 2023 and ends in the same year.
To handle all of their financial assets, including digital real, tokenized banking accounts, and cryptocurrency holdings, Brazilians will just require a single mega app. The programmable nature of digital real, according to Campos Neto, will enable its integration with fresh frameworks that might link Web3 ecosystems and payment systems like Pix.
3. BUSD’s Supply Declined by 3.24 Billion Since Dec. 13
The supply of the stablecoin BUSD has dropped by 14.77% in just three days due to Binance rumors and the significant amount of withdrawals ($3B+) that occurred on December 13, 2022. BUSD experienced the biggest monthly fall of the top 10 stablecoins by market cap, with the exception of Gemini’s stablecoin GUSD, according to 30-day statistics.
The fall in the number of dollar-pegged tokens in circulation for the GUSD began on November 16, 2022, therefore it was less severe than the decline for the BUSD. The 24-hour global trade volume for BUSD was $6.61 billion, and measurements from cryptocompare.com reveal that many BUSD pairs are traded for tether (USDT).
On December 16, 2022, Binance is BUSD’s most active exchange, and over the past 24 hours on Pancakeswap, BUSD has traded with tether for $2,896,034. BUSD represents 13.271% of the $140 billion stablecoin market’s worth, making it the third-largest dollar-pegged coin overall. According to archived etherscan.io records, the supply of BUSD has decreased by 20% over the last 30 days as well.
4. Raydium was hacked for about 2 million dollars
Raydium, a decentralized finance protocol headquartered in Solana, has been attacked. The team’s initial examination showed that the attacker had control of the exchange’s owner account.
The group said that “power” over the farm and automated market maker programs had been suspended “for the time being.” “So far,” the attacker has transferred $2 million to Ethereum. On December 16, at approximately 2:00 PM UTC, a Raydium admin user published almost 1,000 transactions to the Solana network.
At 2:00, they published a notice informing users that an attacker was stealing money from Raydium without first depositing and then destroying LP tokens. Users of Prism were advised to remove their Prism and USDC tokens from the exchange right away.
The Raydium team announced on Twitter that the exchange had been hacked 40 minutes later. A crypto analytics company called Nansen Portfolio has revealed that the attacker stole approximately $2.2 million from the exchange.
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