Saved by sari and
The Paradoxes of Coinbase
OpenSea Raises Money, Bans NFTs; OpenSea’s Value; Crypto’s Aggregators
stratechery.comstratechery.com
In two years, Binance’s share of crypto trading had boomed, from 10 percent to 50 percent. It offered financial products that local regulators either had banned or had yet to approve, and the regulators did not seem willing to do much about it. Binance’s own exchange token, called BNB, was an example. BNB was to Binance what FTT was to FTX: a claim
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Coinbase, the exchange that serviced the greatest number of US customers, appeared willing to take more regulatory risk. It listed roughly five hundred coins, including some that the SEC pretty clearly viewed as securities, and its CEO, Brian Armstrong, took to Twitter to criticize the regulators for “sketchy behavior.” Coinbase itself had no excha
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
The US was now, in Sam’s mind, the holy grail. It had an incumbent crypto exchange, Coinbase. But Coinbase’s CEO had already written insulting tweets about the SEC. And Coinbase, compared to FTX, was a boring and bloated casino. It had fifteen times the number of employees FTX did, and only about a fifth of FTX’s volume. Charging retail investors f
... See more