This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

01/27/23 • 17 min

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.

Also, layoffs continue to happen in crypto - and that’s impacting other industries, with numerous companies tightening their belts and shedding workers. Bloomberg senior editor Anna Irrera and Bloomberg reporter Justina Lee join to discuss.

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01/27/23 • 17 min

Bloomberg Crypto - This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

Transcript

Speaker 100:00:02.680

This is Bloomberg Crypto, a daily Bloomberg Ihad podcast, and I'm Stacy Marie Ishmael, Managing editor of Crypto for Bloomberg News. It's Friday, January. One of the main questions we're asking this week, and frankly one of the questions we ask every week in our reporting, is what's the latest with Binance, the world's largest crypto exchange by volume and by pretty much any other metric you can decide. As we reported this week in a story written

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