CEO Explains How Exchange Differs From FTX Amid Seeking Reserve Transparency

by CEO Kris Marszalek says his change operates in a different way than FTX, a digital asset buying and selling platform that famously collapsed final week.

new interviewMarzarek says his change’s deal with the retail a part of the enterprise units it other than Sam Bankman-Fried’s struggling firm.

“Principally, there are two enterprise fashions within the cryptocurrency area, proper? One is an middleman mannequin. Immediately hedge different positions to get zero threat and entry it, that is 95% of our enterprise, it is also 95% of Coinbase’s enterprise.

One other mannequin takes a fee on an change the place folks commerce a whole lot of hundreds of thousands of {dollars}. Plenty of merchants. “

Marszalek additionally stated conflating a hedge fund enterprise with an change is a “dangerous thought” and must be banned.

After the FTX chapter, a number of cryptocurrency exchanges, together with, got here ahead Present their reserves in a bid for transparency.

Even earlier than the latest cryptocurrency crash, has confronted headwinds of its personal in latest months. Marzarek, early June Stated On Twitter, the change stated it plans to put off 260 folks, or about 5% of the corporate’s workforce.


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