Armstrong: Coinbase customer funds are segregated and backed 1-to-1
Brian Armstrong · E104: FTX collapse with Coinbase CEO Brian Armstrong + election results, macro update & more · Nov 12, 2022 · at 22:21
Coinbase CEO Brian Armstrong contrasts his exchange's practices with FTX following FTX's collapse, explaining Coinbase's regulatory oversight and auditing standards.
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“We're a public company. We're regulated. Our financial statements are audited. They can show that, you know, customer funds are segregated. They're backed one to one. We're not investing customer assets without their explicit direction.”
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