BTC
$101,770.66
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2.23%ETH
$2,430.72
-
3.53%USDT
$1.0001
+
0.01%XRP
$2.4428
+
1.99%BNB
$643.90
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1.79%SOL
$168.28
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3.75%USDC
$1.0001
+
0.02%DOGE
$0.2195
-
7.87%ADA
$0.7788
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4.98%TRX
$0.2619
-
2.04%SUI
$3.8490
-
4.94%LINK
$16.14
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5.92%AVAX
$23.59
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6.18%XLM
$0.2988
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4.22%SHIB
$0.0₄1494
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8.45%HBAR
$0.2019
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3.32%TON
$3.2228
-
6.78%LEO
$8.5854
+
2.41%HYPE
$23.61
-
4.26%BCH
$393.82
-
4.04%
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17:16:16:30
How Big a Deal Was Binance’s Previous $1B BUSD Collateral Gap?
The company admitted to some process challenges in the past, but says things are fixed now.
Listen or watch all the new CoinDesk podcast episodes wherever you want.
ABOUT
Today on “The Breakdown,” NLW catches up on some crypto cleanup stories from earlier in the week. He looks at community reactions to research uncovering that at times in 2020 and 2021 Binance peg BUSD was undercollateralized by as much as $1 billion, as well as to the latest fire and fury around Silvergate Bank.
See also: A Binance Stablecoin Wasn't Always Fully Backed: Bloomberg
“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.
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