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.

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ABOUT

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

“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.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.