Kraken launches global money app
As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week’s top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly.
EXCHANGE TRANSPARENCY BOOSTED: In a major move towards transparency, the crypto exchange Bitget recently released its June Proof-of-Reserves report. The audit reveals the company holds 199% of all customer funds, meaning for every dollar a user has on the platform, Bitget holds nearly two dollars in reserve. This includes a staggering 429% reserve ratio for Bitcoin (BTC). The long-standing exchange BTCC also…
