As crypto firms face a challenging winter season marked by an industry shakeup, regulators have launched rigorous investigations into companies’ governance, risk management, and compliance arrangements.
Among these, Binance, a prominent name in the crypto world, has come under particular scrutiny.
These points were discussed in a recent post by Theta Lake, who asked the question of whether the crypto winter was spotlighting the use of chat.
Chat messaging platforms play a significant role in the day-to-day operations of crypto firms. Although this method of communication is inherently neither commendable nor detrimental, its use has raised concerns regarding questionable governance practices. Regulators, including the U.S. Commodities Futures Trading Commission (CFTC), have notably used these chat records to spotlight these practices.