Coinbase Strikes a Massive Blow to Bankman-Fried and FTX

Coinbase Chief Executive Brian Armstrong doesn’t mince words. 

Nearly two months after rival Sam Bankman-Fried’s empire went bankrupt, he’s just delivered a large blow to what until recently was the institutional face of crypto.

Bankman-Fried’s empire consisted of the FTX cryptocurrency exchange. Before its rout, it was the third largest cryptocurrency exchange based on volume after Binance and Coinbase. FTX last February was valued at around $32 billion.

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