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Columns and opinions

19/05/2022

Stablecoins: A take on their reserves, transparency, regulatory and operational risks

Last week saw the de-pegging of yet another stablecoin. Terraform Labs’ stablecoin TerraUSD (UST) depegged from the USD and hit $0.29 at one point. A further decline in the days following the initial depeg saw UST trading as low as $0.03 at one point. With a market cap of approximately… Read More

Columns and opinions

28/04/2022

The Road of Crypto Regulation in the US and Why Crypto Executive Order Is a Historical Milestone

The past year has seen a flurry of cryptocurrency regulation-related activity, particularly from banking regulators. On March 9, U.S. President Joe Biden signed the executive order (EO) on “Ensuring Responsible Development of Digital Assets” amid explosive growth in blockchain technologies and cryptocurrency adoption. Just three weeks ago, U.S. Treasury Secretary… Read More

Columns and opinions

31/03/2022

High-Quality Liquid Assets: Tether reduces its cash reserves, but there’s more than meets the eye

On February 21, Tether issued its latest quarterly assurance opinion. The USDT issuer announced that its reserves now exceeded its liabilities. This should have eased concerns over Tether’s ability as the single arbiter of the world’s largest stablecoin in market cap. Instead, it was met with mixed reviews, with some… Read More

Columns and opinions

14/03/2022

Tether: Opportunities and Risks of USDT in CeFi and DeFi

Cryptocurrencies are volatile; there is no limit to price soar and plunge, and the market runs 24/7/365. In November 2021, we witnessed Bitcoin hitting its highest — over $68,000 — it fell to almost 50% of that in January 2022 which led the entire market into a bearish mode. Such volatile characteristics in cryptocurrencies… Read More

Columns and opinions

09/03/2022

The Way to Build a Clean and Secure Crypto-Fiat Exchange: Introducing XREX’s Compliance Partners

XREX builds comprehensive partnerships with global leading compliance service providers to ensure a clean and trusted community for users worldwide. We are proud to introduce Know Your Customer (KYC), Anti-money Laundering (AML), wallet, and financial audit partners. XREX’s compliance partners. XREX AML partner — CipherTrace CipherTrace is a globally leading cryptocurrency intelligence… Read More

Columns and opinions

17/02/2022

Stablecoins for Payments and Remittances: An Answer to The Traditional Financial System

In 2014, the first stablecoin Tether (USDT) was introduced. Stablecoins are the answer to the traditional financial system for payments and remittances. You might have seen headlines and articles stating how the US has printed almost 80% of all its USD in existence since January 2020, and how much the… Read More

Columns and opinions

16/02/2022

Virtual Assets in 2022: Is Crypto a Commodity, Currency, or Financial Product?

2021 Virtual Assets-Related Financial News Crypto marched into the physical world in February 2021 when Tesla filed with the SEC regarding its purchase of bitcoin worth $1.5 billion USD and accepted Bitcoin as a method of payment in March (then stopped the Bitcoin payment in May). As a new member of… Read More

Anti-Fraud, AML and Fund tracing

07/11/2020

Disclosing Nigerian Crypto Scam Group “Operation N-Fiverr”

Yesterday the XREX secops team noticed an AML alert — one of our users tried to withdraw funds into wallet: 1BT5vBb9WKudUAX51jiWi3pAawobD3mZwM; our system blocked this withdrawal due to its high CipherTrace risk score. (Also published on Hacker Noon) Nigerian Crypto Scam Group launched more than 30 different scam websites. [Investigation Summary] ======= Victims: 1000+ people from worldwide,… Read More