Coinbase CEO Says Trading Activity Rising, No Plan to Buy FTX US

Nov 09,2022
KingData News: Crypto exchange Coinbase Global Inc. said it’s seeing increased activity on its trading platform following the drama over the potential acquisition of FTX by Binance. The liquidity crunch that prompted Binance’s tentative agreement with FTX wouldn’t happen at Coinbase because the company doesn’t engage in “risky behaviors,” Chief Executive Officer Brian Armstrong said in a Bloomberg Television interview. Coinbase doesn’t have a plan to try and buy FTX US, the American affiliate of FTX, which is not a part of the Binance deal, according to Armstrong. Armstrong said that he hoped the financial troubles faced by FTX won’t “taint” regulators’ view of the crypto industry.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.
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