Coinbase Strikes a Massive Blow to Bankman-Fried and FTX

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The Street

By Luc Olinga Cryptocurrency exchange CEO Brian Armstrong delivers a scathing critique of his rival. Coinbase Chief Executive Brian Armstrong does not mince words. Nearly two months after rival Sam Bankman-Fried’s empire went bankrupt, he’s just delivered a massive 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. Besides FTX, Bankman-Fried also found…

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