Home Coinbase Parsing FTX’s 2021 progress in a Coinbase context – TechCrunch

Parsing FTX’s 2021 progress in a Coinbase context – TechCrunch

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Over the weekend, CNBC reported a set of income and revenue figures from FTX, a worldwide cryptocurrency trade that raised a mountain of capital within the final yr and is at the moment expanding its product remit. Its founder, Sam Bankman-Fried, has been a key participant within the crypto market in current months, involved in several deals because the decentralized economic system weathers a slowdown amid a barrage of bad news.

The info that CNBC uncovered paints an image of sturdy progress, however a restricted one — it didn’t come up with Q2 numbers. The data, FTX’s trailing non-public market cap, and up to date knowledge regarding Coinbase’s monetary efficiency arrange an attention-grabbing query: Is Coinbase low cost, or is FTX overvalued?

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Naturally, as a result of we’re coping with one non-public firm and one public concern, we should endure info asymmetry. Coinbase is public, which means we’ve mainly all of its knowledge, making the U.S. firm a key barometer in our capability to grasp the economics of crypto buying and selling.

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