2min chapter

All-In with Chamath, Jason, Sacks & Friedberg cover image

E104: FTX collapse with Coinbase CEO Brian Armstrong + election results, macro update & more

All-In with Chamath, Jason, Sacks & Friedberg

CHAPTER

Alameda FTX or FTT Token

Coinbase did not have any material exposure to Alameda FTX or FTT token We just talk about this issue customer deposits because this is really the issue from a legal standpoint, right? I remember when I was doing PayPal like 22 years ago and the company was like six months away from running out of money. You cannot use customer deposits to fund the operating expenses of your business in other words If this business ends up going bankrupt you'll still have all the customer money there and they'll be able to get it back. That is a do not pass go directly to jail type offense.

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