Crypto firm Coinbase has issued aĀ statementĀ regarding the latest developments around FTX.
Coinbase notes that regardless of whether theĀ Binance/FTX transactionĀ completes, it has very little exposure to FTX and it has no exposure to its token, FTT. Currently Coinbase has $15 million worth of deposits on FTX to facilitate business operations and client trades. Coinbase has no exposure to Alameda Research, and it has no loans to FTX.
Coinbase says that it is in a strong capital position. The company stresses that it does not have a liquidity problem. It ended Q3 with $5.6 billion in total available $USD resources, including $5B in cash and cash equivalents.
Coinbase puts the blame for whatās happening on US regulatory frameworks:
āFragmented, opaque regulatory frameworks in the U.S. are driving crypto to offshore unregulated exchanges, where looser regulations can put customers at risk. Congress needs to provide clear, national rules for crypto ā and make those rules workable so companies arenāt rewarded for building outside the U.S.ā