Chain News by Thebittimes.Com

The cryptocurrency market has witnessed the arrival of several prominent figures. From outrightly bashing the market to diving right into it, Donald Trump has surprised many in the community. The former U.S. President now holds an eight-figure sum in various meme coins. Unlike traditional investments or trading, these holdings have accrued through daily airdrops from developers of different meme coin projects. This event further underscores the unique confluence of politics and cryptocurrency. It marks the rise of “PolitiFi,” which is a blend of political figures and decentralized finance [DeFi]. Source Airdrop Avalanche Developers of several meme coin s have been sending tokens to Trump’s public Ethereum address. They have been leveraging his fame and the media attention it generates. This tactic has significantly boosted Trump’s digital portfolio, pushing it past the $10 million mark. One of these instances is when a trader achieved a phenomen...

Mazars Group, known for its proof-of-reserve audit services for crypto companies, reportedly removed PoR audits from its site. Crypto exchange Binance has seen its proof-of-reserve (PoR) audits removed from the auditor Mazars’ website. Mazars’ official website shows they fully discontinued Mazars Veritas, a section dedicated to cryptocurrency exchange audits. The tool was developed by Mazars in order to bring “trust and transparency to the digital asset sector,” using Silver Sixpence Merkle Tree Generating tool to complement PoR reports. The news comes amid Bloomberg reporting that Mazars stopped doing PoR for cryptocurrency companies. Some other audit ing firms like FTX’s auditor Armanino have also reportedly stopped working with crypto exchanges like OKX and Gate.io. Mazars is widely known as the accounting firm of former United States President Donald Trump’s company. The audit ing firm was appointed as an official auditor Binance’s PoR updates in late November. A number of riva...