Binance admits to mistakenly co-mingling collateral. Plus, crypto layoffs continue.
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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.
Meanwhile, layoffs continue across the crypto industry, with numerous companies shedding workers. The belt-tightening has also been impacting the tech and finance industries. Bloomberg senior editor Anna Irrera and Bloomberg reporter Justina Lee join to discuss.
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