Mazars has deleted Binance’s proof-of-reserves assessment, which found its bitcoin reserves were overcollateralized. Mazars, the auditing firm working with Binance and other crypto exchanges on…
"While the the current bitcoin futures trading volumes on Cboe Futures Exchange and CME may not currently be sufficient to support ETPs seeking 100% long or short exposure to bitcoin, Cboe expects these volumes to continue to grow and in the near future reach levels comparable to those of other commodity futures products at the time that they were included in ETPs."Furthermore, he wrote that he sees the markets for government-issued currencies and gold as being "probably more fragmented" than cryptocurrency markets, noting that "there are a lot of venues to access currency markets." "While Cboe shares many of the concerns raised in the Staff Letter, we believe that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation," the letter noted. Bitcoin and markets graph image via Shutterstock
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