Coinbase’s CEO Brian Armstrong has said that the platform is not affected by the crisis the FTX platform is in, and nothing threatens its users.
According to him:
“First off, I have a lot of sympathy for everyone involved in the current situation with FTX – it’s stressful any time there is potential for customer loss.”
He believes the crisis that has engulfed the Sam Bankman-Freed platform was the result of “risky business practices, including conflicts of interest between closely related organizations.” Another reason he has called “misappropriation of customer funds.”
Armstrong has emphasized Coinbase does not dispose of users’ assets without their knowledge, and they can “withdraw money from the exchange at any time.”
On April 14, 2021, Coinbase shares were listed directly on Nasdaq.