tl;dr
Tron founder Justin Sun has demanded proof-of-reserve from Coinbase, questioning why the exchange claims it's not feasible when others, like Binance, have implemented it. Sun emphasized the importance of transparency and simplicity in revealing wallet addresses to build trust in the industry. This d...
Tron founder Justin Sun has demanded proof-of-reserve from Coinbase, questioning why the exchange claims it's not feasible when others, like Binance, have implemented it. Sun emphasized the importance of transparency and simplicity in revealing wallet addresses to build trust in the industry. This demand comes amid controversy over BlackRock's involvement with Coinbase's new product, cbBTC, and allegations of allowing BlackRock to borrow Bitcoin without collateral. The crypto community expects transparency from Coinbase regarding its Bitcoin reserves. Meanwhile, Bitcoin's price has surged past $60,500 ahead of the Fed's rate cut decision, which will impact its future trajectory. Sun's demand for Proof-of-Reserve from Coinbase underlines the growing adoption of this strategy in the crypto industry, with major players like Binance already implementing it. He expressed confusion as to why Coinbase claims it's not feasible when others have already done so. The involvement of BlackRock with Coinbase's cbBTC project has stirred controversy, with questions raised about allowing BlackRock to borrow Bitcoin without collateral and potential market manipulation. The crypto community expects Coinbase to address these allegations and provide clarity on its Bitcoin reserves. Amid these controversies, Bitcoin has shown strength, rising above $60,500 ahead of the Fed's upcoming rate cut decision. The Fed rate cut is expected to be crucial in determining Bitcoin's future trajectory. The involvement of BlackRock and Coinbase's response to allegations, alongside the potential impact of the Fed's rate cut decision on Bitcoin's price, remain key points of interest and concern in the crypto industry. For more exciting financial news and insights, stay tuned and join the conversation!
More about C3 Ai Inc
Stock Summary: C3 Ai Inc (C3)
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: $2,957,328,000
Dividend Yield: None
EPS: -2.28
P/E Ratio: 2.674
ROE: -0.855
Volume: 325,433,000
Stock Price: $25.11
52-Week Range: $0 - $0.205