Binance, the largest global crypto exchange, has acknowledged to Fortune further management issues in how it oversees its stablecoin products after the publication of a new independent analysis calling attention to the company's practices.
The analysis found that different synthetic Binance pegged tokens—tokens issued by Binance nominally pegged to the value of a separate asset—had irregularities when it came to the collateral held to back these tokens. The finding comes a week after Bloomberg reported similar irregularities in the case of the Binance-peg BUSD token, which Binance attributed to operational delays.
