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Babel Finance Reportedly Lost $280M Trading Customer Funds, KuCoin to Offer NFT ETFs

Jul 29, 2022

“The Hash” group discuss today’s top stories, including a report that troubled crypto lender Babel Finance has lost $280 million in customer funds through proprietary trades, and crypto exchange KuCoin offering retail investors fractional ownership of top non-fungible tokens (NFTs) in the form of an exchange-traded fund (ETF).

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Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.

Jennifer Sanasie

Jennifer Sanasie sits at the intersection of crypto and culture. She co-hosts "The Hash" on CoinDesk TV, a daily news show that connects the dots on why crypto stories matter beyond crypto native communities. She’s a content director at Windranger Labs, a lab that incubates, co-develops and partners with autonomous entities in the BitDAO ecosystem and is also the co-founder and CSO of Rite Network, a decentralized standard for licensing IP associated with NFTs. Prior to entering the Web 3 space, Sanasie created branded and editorial content for companies, broadcasters and publishers in Canada, South Africa and the United States. She holds her MBA from the Rotman School of Management, LLM from the University of Toronto, BA in media studies from the University of Guelph and diploma in journalism from Humber College.

Will Foxley is multimedia director at Compass Mining and a former tech reporter for CoinDesk. He previously worked for Messari and the American Spectator. He holds investments in bitcoin.

Wendy O runs the largest and most-watched female-run crypto YouTube program globally, "The O Show," which focuses on bringing tech-heavy information to the masses in a clear and easy-to-understand format. Prior to going full-time crypto at the end of 2018, Wendy worked at the largest infectious disease company in the world. Her role there consisted of working with newly diagnosed and existing patients to coordinate their care. Working with 300+ patients per month gave Wendy the ability to effectively communicate complex information to people from all different cultures and backgrounds which she uses while creating content. Wendy was born and raised in Los Angeles County, California and takes pride in hosting free events for her community and making sure the unrepresented have access to free crypto education. She holds BTC, ETH, GALA along with other cryptocurrencies along with NFTs above CoinDesk's disclosure threshold of $1,000.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to coindesk.consensus.com to register and buy your pass now.