Coinbase could benefit as crypto exchanges brace for regulatory scrutiny, analysts say
The fall of crypto exchange FTX will likely bring regulatory scrutiny with it – and Coinbase may emerge as a winner, analysts say. Though everyone is still making sense of what some are calling "crypto's Lehman Brothers moment," two things are clear: A lack of regulatory oversight helped fuel this latest crisis, and greater scrutiny is coming to crypto exchanges.
” Owen Lau at Oppenheimer lowered his price target on Coinbase shares, due to the expected loss in crypto adoption and trading volume, but he framed it as a challenge that the company will overcome as it continues to set an example for rivals. “We need more crypto companies using COIN's compliant and transparent model,” he said in a note this week. “Longer term, the industry will learn the lesson and move forward.
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Coinbase says it has no material exposure to FTX or FTTCoinbase CEO Brian Armstrong aimed to ease jitters triggered by news that FTX would sell its non-U.S. assets to Binance amid a liquidity crunch by saying the exchange he runs has no material exposure to either FTX its FTT token.
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Tether, Circle and Coinbase deny having exposure to FTX and AlamedaCircle CEO Jeremy Allaire clarified that the firm has not made loans, received FTX tokens (FTT) as collateral, or taken any positions on FTT.
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FTX Website Experiences Temporary Outage, Warns Users Not to Make Deposits.FTX_Official’s website experienced a temporary outage on Wednesday, and it now has a banner warning users not to make deposits. cheyenneligon reports
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Binance Bails On FTX Acquisition — Here’s What Led To The FTX Crypto CrashBinance will reportedly back out of its agreement to buy rival cryptocurrency exchange FTX, the latest in the sudden unraveling of billionaire Sam Bankman-Fried’s crypto titan FTX once valued at $32 billion, taking down the value of digital assets with it.
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Binance Bails On FTX Acquisition — Here’s What Led To The FTX Crypto CrashBinance will back out of its agreement to buy rival cryptocurrency exchange FTX, Binance said Wednesday afternoon, the latest in the sudden unraveling of billionaire Sam Bankman-Fried’s crypto titan FTX once valued at $32 billion.
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TRX Momentarily Surges 4,000% on FTX After Justin Sun Emerges as Latest 'Would Be' FTX Savior.justinsuntron, also known as “Brother Sun” among believers, has offered a way out for FTX_Official in a move that caused TRX prices to momentarily rocket on FTX. By shauryamalwa.
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