Ripple Labs announced today that their bitcoin-friendly alt-coin system will soon be offered to the customers of two small U.S. banks. The Ripple system is part of a new low-cost, real-time international payments service offered by CBW Bank of Topeka, Kansas, and Cross River Bank of Teaneck, New Jersey. The integration is the first time […]

The final member of China’s “big three” bitcoin exchanges has passed a proof-of-solvency audit with flying colors. In an independent audit published by Ripple Labs CTO Stefan Thomas, Huobi appears to have 103.52% of total customer deposits in reserve. Thomas provided the auditing service free of charge, as he did when auditing Kraken and Bitfinex […]

Chinese bitcoin exchange OKCoin have announced the results of their recent audit, revealing that the exchange holds 104% of the BTC needed to all cover customer deposits. The audit was conducted over four days by Ripple Labs CTO Stefan Thomas, who performed similar audits for Kraken and BitFinex earlier this year. OKCoin announced the results […]

Last week, not-quite alt-coin Ripple found itself facing an existential crisis when co-founder Jed McCaleb revealed he was planning to sell off his 9 billion XRP stash. The announcement caused a dramatic XRP price crash, halving Ripple’s currency value in less than a 24 hours. McCaleb’s planned cash-out also hinted at deeper problems behind the […]

The first generation of bitcoin exchanges had it easy. Users were so happy to have a place to buy and sell bitcoin, that they didn’t worry too much about how those businesses actually operated, whether or not they were secure, or even if the user funds were really all accounted for. The situation at Mt.Gox […]