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To: maceng2 who wrote (195638)1/29/2023 6:44:15 PM
From: TobagoJack1 Recommendation

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... however ... bloomberg.com

This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs (Podcast)

Binance admits to mistakenly co-mingling collateral. Plus, crypto layoffs continue.

Stacy-Marie Ishmael
27 January 2023 at 17:00 GMT+7



Photographer: Tiffany Hagler-Geard/BloombergListen to Bloomberg Crypto on the iHeartRadio App, Apple Podcasts or Spotify.

One of the main questions we’ve been asking lately is what’s new with Binance, the world’s largest crypto exchange by volume.

As we reported this week, Binance acknowledged that it had been mistakenly mixing the collateral it holds for some of its tokens in the same digital wallet as other types of funds.

This kind of operational issue is a challenge for these exchanges, especially now, at a point when both regulators and customers are paying super close attention to how this industry is managing its transparency.
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