Coinbase "has little direct exposure to FTX," but that doesn't mean that the cryptocurrency exchange is immune to the "contagion,"...
Coinbase Global Inc. “has little direct exposure to FTX,” but that doesn’t mean the cryptocurrency exchange is immune to the “contagion” brought on by FTX’s recent collapse, according to Needham analyst John Todaro.
While Coinbase COIN has just $15 million in crypto assets on the FTX platform, Todaro said he sees more big-picture risks to the crypto exchange stemming from FTX’s implosion. Additionally, he wrote that the U.S. government could make crypto regulation a greater priority starting in the first quarter of 2023, bringing the potential for stricter rules around exchanges, custodians and perhaps stablecoins.
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