CoinBase CEO Tears Apart FTX for the Crimes They Committed – Brian Armstrong & Chamath Palihapitiya

YouTube video

Brian Armstrong is the founder of the world’s 2nd largest Crypto Exchange, CoinBase.

In this highlight, Armstrong unravels the chaos behind the collapse of FTX, explaining what they did wrong & what will happen to the lost funds in the future.

Also, Armstrong reveals what features to look for in a safe, trusted crypto exchange & why his company Coinbase will never face the same fate as FTX to ensure that your crypto will always be secure.

0:00 Introduction to Brian Armstrong
1:00 Brian Armstrong exposes what happened to FTX
5:20 Chamath Palihapitiya & Brian Armstrong explain how to get your money back from FTX

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  1. Just stop using CB completely. After what Circle and Coinbase did with the recent incident in Tornado Cash, I have not trusted them and will not buy from them or use it ever again.

  2. But didn't Coinbase stated that if they file for a bankruptcy of Chapter 11, us retail user's funds will be liquidated first to pay off debtors? JUST LIKE WHAT FTX IS DOING RIGHT NOW?!!

  3. If you ask me, Coinbase is quite dangerous and should not be used. I recently read their financial statements. They have only $6 billion in equity in a company worth $21 billion. Too large a void to fill in the event of a bank run. They would easily go bankrupt just like how FTX did!

  4. Armstrong and CB are still trying to be relevant lmao sooner or later Coinbase will be dethroned by other better exchanges. Especially with Fidelity recently offering zero commission in trading for retail investors, which would be a huge threat to CB right now given their recent net loss of $500 million.

  5. What I'm concerned about here is Coinbase's ability to survive this prolonged bear market. This year, they lost billions of dollars. And if they do not recover from their losses, this could be their final quarter. With the market's recent performance, now is probably a good time to switch exchanges or go for cold storage.

  6. Perhaps Brian should assess his and Coinbase's situation before passing judgment on others. Oh, and Brian, Coinbase went public despite not being registered as a broker right? LOL

  7. Pass for Coinbase. CB even halted withdrawals in recent months and made numerous layoffs for their operations. Looks like a bankruptcy checklist lol.

  8. Are we forgetting about the fact that Coinbase themselves halted withdrawals in the past months too?

  9. What about Coinbase's crimes? They have tons of lawsuits they are facing right now. What makes them different? lol

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