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The Breakdown, With NLW

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.

January 27, 2023
Listen on:
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Secure Your Seat

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 BlockFi
  • A Celsius Network proposal for an asset-recovery token

See also: Binance USD Stablecoin Sees $2B Reduction in a Month Amid Token Mismanagement

“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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