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Provable Solvency Report #69 – December2019

Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.

Today we are publishing our 69th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.

As of today, Coinfloor holds a total of 3,778.6544 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.

What does the Provable Solvency Report include?

We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.

We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of 3,796.9854. XBT. The output of the script also includes the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction on the blockchain.

Key Pieces of information:

Provable Solvency Report #69 (December 11th, 2019):
https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20191211.txt

SHA-256 Hash of the Provable Solvency Report: EAA1319D7706E3F02E74635E8F0D067B53E9112FDB35E53CA28CF7457C30B10F

Transaction ID: 2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

View the transaction here:
https://explorer.bitcoin.com/btc/tx/2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

Your API authentication cookie:
You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).

Instructions for Validating Solvency Report:

1. Open the Provable Solvency Report file:

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20191211.txt

2. Go to

https://passwordsgenerator.net/sha256-hash-generator/ or to your SHA256sum calculating application.

Copy the entire contents of the solvency report (including any leading or trailing spaces or blank lines) into the SHA-256 generator and calculate the SHA-256 hash of the report.

3. Go to

https://explorer.bitcoin.com/btc/tx/2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

Click on the `SHOW ADVANCED` switch to view the OP_RETURN, where you will find the hash generated in the previous step matches the hash in the OP_RETURN output script of the transaction that includes all customer bitcoins.

Instructions for finding your account balance within the Solvency Report:

1. Go to

your local SHA1sum application

to calculate the SHA-1 digest of a message consisting of the timestamp shown at the top of the Solvency Report (1576068671) and your API authentication cookie.

Example (Linux):

    timestamp: 1576068671

    API authentication cookie (API Key): 9BTa7M0Z/Mrk6tFMJwEkTV3BQek=

    command: echo -n ‘15760686719BTa7M0Z/Mrk6tFMJwEkTV3BQek=’ | sha1sum

(the command may differ depending on the SHA1sum application used)

2. Find the resulting hash in the solvency report. Your balance is shown on that line in satoshi units. 1 bitcoin = 100 000 000 satoshis. For your convenience, here is a link to a bitcoin unit converter:

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability whilst retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on a regular basis.

Thank you for your trust,

Coinfloor Team

image

Published

on

Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.

Today we are publishing our 69th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.

As of today, Coinfloor holds a total of 3,778.6544 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.

What does the Provable Solvency Report include?

We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.

We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of 3,796.9854. XBT. The output of the script also includes the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction on the blockchain.

Key Pieces of information:

Provable Solvency Report #69 (December 11th, 2019):
https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20191211.txt

SHA-256 Hash of the Provable Solvency Report: EAA1319D7706E3F02E74635E8F0D067B53E9112FDB35E53CA28CF7457C30B10F

Transaction ID: 2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

View the transaction here:
https://explorer.bitcoin.com/btc/tx/2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

Your API authentication cookie:
You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).

Instructions for Validating Solvency Report:

1. Open the Provable Solvency Report file:

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20191211.txt

2. Go to

https://passwordsgenerator.net/sha256-hash-generator/ or to your SHA256sum calculating application.

Copy the entire contents of the solvency report (including any leading or trailing spaces or blank lines) into the SHA-256 generator and calculate the SHA-256 hash of the report.

3. Go to

https://explorer.bitcoin.com/btc/tx/2129f845fb83b8ede7fbe35da5cb5fe8447f372aee4af2ec97a22dff7a615ef6

Click on the `SHOW ADVANCED` switch to view the OP_RETURN, where you will find the hash generated in the previous step matches the hash in the OP_RETURN output script of the transaction that includes all customer bitcoins.

Instructions for finding your account balance within the Solvency Report:

1. Go to

your local SHA1sum application

to calculate the SHA-1 digest of a message consisting of the timestamp shown at the top of the Solvency Report (1576068671) and your API authentication cookie.

Example (Linux):

    timestamp: 1576068671

    API authentication cookie (API Key): 9BTa7M0Z/Mrk6tFMJwEkTV3BQek=

    command: echo -n ‘15760686719BTa7M0Z/Mrk6tFMJwEkTV3BQek=’ | sha1sum

(the command may differ depending on the SHA1sum application used)

2. Find the resulting hash in the solvency report. Your balance is shown on that line in satoshi units. 1 bitcoin = 100 000 000 satoshis. For your convenience, here is a link to a bitcoin unit converter:

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability whilst retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on a regular basis.

Thank you for your trust,

Coinfloor Team

image

Source: https://blog.coinfloor.co.uk/post/189610542126

Blockchain

How Binance is strengthening its hold on Bitcoin, altcoin derivatives markets

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Binance Futures was launched a year back and today, as per CoinGecko’s ranking of top derivative exchanges, it stands third. The exchange has been popular among users due to its active listing of in-demand products like Chainlink [LINK] quarterly 1225 coin-margined contracts with leverage of 75x. At the time, LINK wasn’t being significantly affected by the falling market, with LINK’s charts showing a degree of recovery instead.

Binance Futures launched Coin-Margined Futures only in Q2, offerings that allowed settlement in cryptocurrencies, instead of cash. The cryptocurrencies that made it to the coin-margined quarterly 0925 contracts were Bitcoin [BTC], Ethereum [ETH], Cardano [ADA], and Chainlink [LINK]. Now, these quarterly contracts are expiring on 25 September.

Source: Binance

With the impending expiry and settlement looming closer, Binance Futures have announced that it will list BTC, ETH, ADA, and LINK coin-margined quarterly 0326 Futures contracts on the same day at 08:00 AM [UTC].

The coin-margined quarterly 0925 Futures contracts included the aforementioned coins, with no other major crypto-asset listed. However, coin-margined perpetual Futures contract included Binance’s native coin Binance coin [BNB], along with Polkadot [DOT], both cryptos that also attracted great interest from users.

Binance’s keen eye

Binance has been making use of the market momentum associated with a project by listing their tokens and beating the competition. The most recent instance was when it listed Uniswap’s UNI token within 90 minutes of its launch, followed by the launch of UNI USDT-Margined perpetual contract with up to 50x leverage. The users were able to benefit from the rallying market, especially when the remaining market was undergoing consolidation.

Such a pro-active listing of coins has pushed Binance Futures YTD trading volume to $1 trillion. The exchange witnessed a month-on-month increase of 74% in August, which was equivalent to $184.6 billion, in volume. It was also the highest holder of daily Bitcoin Futures trading volume. However, interestingly, according to the VP of Binance Futures, Aaron Gong, altcoins accounted for about 40% of the exchange’s volume.

With Binance Futures slowly taking over like the Binance exchange in terms of trading volume, other derivatives exchanges may want to pick-up their game.

Source: https://eng.ambcrypto.com/how-binance-is-strengthening-its-hold-on-bitcoin-altcoin-derivatives-markets

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Blockchain

Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin

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Israeli bitcoiners take note: a handful of Knesset members are seeking to ease Israel’s hefty taxation of cryptocurrencies.

Four Knesset members from the nationalist Yisrael Beiteinu party on Tuesday introduced a draft bill that would effectively end Israel’s 25% capital gains tax on bitcoin by redefining certain “distributed digital currencies” as currency, instead of a taxable asset.

Source: https://www.coindesk.com/israel-bitcoin-tax

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Blockchain

Robinhood App Supports Screen Widgets on iOS 14

Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts.

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Robinhood’s application for iPhone has received a notable update today after Apple introduced ‌the concept of Home Screen‌ widgets in iOS 14, which provide information from apps at a glance.

As announced on the free-commission app’s blog, Robinhood widgets now allows users to check on their portfolio, holdings, and more, without having to tap into the app.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts. Users can also place their investment app next to other everyday apps or create an entire screen with their favorite Robinhood destinations.

Updates bring many exciting features to the app users on iPhone, iPad, and Apple Watch devices. Specifically, Robinhood’s new widgets enables users to track their investments, gain additional insight into their investing habits and view the information about portfolio, holdings, specific stock symbols, among many others.

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Apple users around the world have been busy customizing their screens and sharing screenshots for the “widget gallery” where they can easily add and customize favorite apps. Prior to the latest OS version, users were only allowed to have their apps in a grid of boxes.

Despite the relative lack of 3rd party widgets at iOS 14 initial launch, some of top brands and tech giants have already released widget support. Investment apps, however, were notably absent from the early supporting apps on day one though, over time, widget support will be a standard feature for a large number of apps.

Just yesterday, Robinhood has reportedly closed a new round of capital, having raised an additional $460 million in an extension of its Series G round. In August, the quickly growing stock-trading app announced a $200 million Series G funding led by D1 Capital Partners and putting its valuation at $11.2 billion.

Robinhood has also made multiple changes to its options trading products, part of the improvements the app promised to do after one of its customers died by suicide thinking he incurred losses of over $700,000.

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