On the question of whether Bitcoin (BTC) will hit $1 million, he said, “anything can happen.” The potential size of a new market can not be compared with the size of an existing market, he added. The Binance CEO expects crypto market recovery in 2023 after the negative events that happened in 2022. The industry is now healthier compared to an year ago, he stated.  

Hackers will never stop attacking cryptocurrency exchanges as long as they remain profitable. Do your due diligence when signing up for an exchange to make sure you don’t become a victim.

<a href="https://coingape.com/glossary/binance/">Binance</a> was one of the first crypto exchanges to reveal their proof-of-reserves, and it wasn’t long before numerous other crypto firms followed suit. However, these earliest proof-of-reserves were nothing more than the balances of the cold wallets belonging to the exchanges.

Binance has a reserve ratio of 101%. It means that the company has enough Bitcoins to cover all users' balances.

Cryptocurrency exchange Binance will delist three Serum (<a href="https://www.coindesk.com/price/serum/" target="_blank">SRM</a>) trading pairs as the fallout from FTX's collapse continues, according to an <a href="https://www.binance.com/en/support/announcement/notice-of-removal-of-trading-pairs-2022-11-28-f88299165488493cba3e53208c19080d" target="_blank">announcement</a> on Friday.

The Binance CEO said the FTX management lied about not taking user money, saying it was a sort of a Ponzi scheme. He said all industries go through ups and downs in early phase. All the new industries have successful and failed projects, he explained. On the flip side, CZ said the Terra Luna project was mismanaged similar to the Lehman brothers.&nbsp;

The Huobi Token (HT) recorded 64% gains, rising from a local bottom of $3.70 on Nov. 13 to a price of $6.06 at the time of press.

As per the recent <a rel="nofollow" href="https://twitter.com/WuBlockchain/status/1596116422140129282">tweet</a> from WuBlockchain, the launch of this feature will start initially with BTC, then move to other tokens and networks being added in the next couple of weeks. In addition to this, <a href="https://coingape.com/glossary/binance/">Binance</a> will also implement ZK-SNARKs for PoR later to improve privacy and robustness.

Crypto exchange Binance has allocated another $1 billion for its crypto recovery fund, <a href="https://www.coindesk.com/business/2022/11/25/binance-allocates-another-1b-for-its-crypto-recovery-fund/">increasing the size</a> of the fund to over $2 billion. Aptos Labs, Jump Crypto and other prominent crypto companies joined the exchange’s initiative and will contribute $50 million to it. The increase comes a day after Binance CEO <a href="https://www.coindesk.com/business/2022/11/24/binance-targets-1b-recovery-fund-for-distressed-crypto-assets-bloomberg/">CZ </a>announced the fund.

Binance has committed $2 billion to the firm’s crypto rescue fund as it aims to help rebuild the industry. Binance founder and CEO Changpeng Zhao said the so-called Industry Recovery Initiative (IRI) would possibly buy up some of the ailing crypto projects acquired by the now-defunct exchange FTX.