The shocking collapse of FTX has slammed the crypto market and raised alarms within the industry amid fears of a looming regulatory crackdown. For fellow cryptocurrency exchange
Global, the disappearance of FTX—once the second-largest trading venue—has other implications.
FTX’s failure offers both pros and cons to
(ticker: COIN). While competitive pressures—including from FTX—have been a key challenge for the broker this year, Coinbase is likely to gain less from losing such a rival as one might think. The failure of FTX also brings with it some significant baggage.