BREAKDOWN: Commingling Customer Funds? Binance Under Scrutiny for B-Token Wallet

Bloomberg reported this week that a Binance wallet balance suggested customer funds were mixed with B-Token reserves.

On today’s episode, NLW catches up on the continued fallout of Crypto 2022, including:

Scrutiny around wallet balances that suggest Binance has had commingled user funds and company reserves around B-tokens The latest from the FTX bankruptcy, including accidental revelations around BlockFiA Celsius Network proposal for an asset-recovery token 

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Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.

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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Antonio Masiello/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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