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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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Report Claims Quadrigacx Never Held More Than 1,000 BTC



The drama surrounding Canadian cryptocurrency exchange Quadrigacx continues to intensify, with a recent report by Zernoncense claiming that the exchange has no identifiable cold storage reserves and that it has never held more than 1,000 BTC in customer funds.

Report Refutes Claims of Quadrigacx Owner's Widow
The report finds numerous assertions made in the affidavit submitted to Canadian courts on Jan. 31 by Jennifer Roberston, the wife of the exchange's allegedly deceased chief executive officer, Gerry Cotten, to be false.

The findings have been informed by analysis of Quadrigacx's BTC and ETH wallets. As the wallet addresses for Quadrigacx "were not widely known," the report relies on deposit information given to customers that was aggregated from Reddit.

The author notes that the findings are not guaranteed to represent "a factual truth," however, comparisons between Quadrigacx and the withdrawal practices of known solvent exchanges shows "highly unorthodox" practices.

The analysis was conducted using Walletexplorer, which as the author states was created and is still being used by Chainalysis.

Report Claims Quadrigacx Uses Multi-Signature Wallets
Based on Zerononcense's findings, the number of BTC held by Quadrigacx is substantially less than that which was reported in Jennifer Robertson's affidavit.

The analysis finds that there are "no identifiable cold wallet reserves" for Quadrigacx, estimating that the exchange is in possession of less than 1,000 BTC.

The report also claims to evidence transfers totaling approximately 3.53 BTC that occurred on Jan. 24 and Jan. 25, apparently contradicting Robertson's claims that the exchange's funds are inaccessible.

The report also asserts that the numerous wallets used by Quadrigacx had multi-signature capability.

Quadrigacx Accused of Rerouting Customer Funds to Process Withdrawals
According to the report's findings, Qaudrigacx was "clearly" re-routing payments from customers to process withdrawals, comprising the operation of a "shell or a ponzi."

The author also asserts that withdrawal delays previously experienced by Quadrigacx customers resulted from the exchange not having the required funds available at the time, adding that in some instances the exchange was "forced to wait for enough customer deposits to be made" before processing withdrawals.

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