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.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode