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.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

See omnystudio.com/listener for privacy information.