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The Crypto Catch-Up…

Snacks / Friday, May 26, 2023

🤹‍♀️ Quirky… Shaq got served. The NBA Hall of Famer was delivered a summons related to the FTX crypto exchange, for which he was a paid spokesman. He was reportedly served in the formerly named FTX Arena.

🤔 Sus… Reuters sources said that Binance commingled billions of dollars in customer funds with its own revenue. The world's largest crypto exchange denied the report. Former regulators said mixing customer and exchange cash puts clients' $$ at risk.

🤖 Techy… The maker of the Ledger crypto hardware wallet paused the rollout of a key recovery feature after customers pushed back over worries that "Ledger Recover" could put their secret seed phrases at risk.

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.