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Coinbase CEO Says accounting error was not the reason behind FTX’s bankruptcy

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Coinbase CEO Says accounting error was not the reason behind FTX's bankruptcy 2

Brian Armstrong shared his opinion on the recent interview statement of Sam Bankman-Fried (SBF).

Brian Armstrong is the CEO and founder of the Coinbase crypto exchange. Coinbase (COIN) is a US-based Nasdaq-listed crypto exchange, which went public in 2021. In terms of 24 hours global crypto trade volume on this exchange, it is standing at 2nd position in the whole crypto world.

On 2 December, New York Post noted that FTX goes bankrupt on 12 November 2022 because of the mis-accounting issue, on behalf of an interview of SBF with Bloomberg.

On 3 December, Brian Armstrong took to Twitter to share his personal opinion on the statements & bankruptcy story told by Sam Bankman-Fried (SBF), founder & former CEO of the bankrupt FTX exchange.

Armstrong said how a rich person can blame miss accounting issues behind the downfall and also how a person can’t notice the $8 Billion extra funding.

Further, Coinbase CEO added:

“Even the most gullible person should not believe Sam’s claim that this was an accounting error.”

According to Coinbase CEO, SBF only stole FTX users’ money to use for his hedge fund and nothing.

Coinbase exchange is known as a compliance-based crypto company. In the last month, Company jumped in support of Ripple in the XRP lawsuit against the United States Securities and Exchange Commission (SEC).
Through legal approval, Coinbase submitted an amicus brief in favour of Ripple. In the present time, the Ripple vs SEC case is at a turning point and the judge’s decision is significantly inclined toward Ripple but still few legal experts believe that SEC may settle its case with Ripple without any prior announcement to the public.

Read also: “Dave the Wave” claims BTC could hit 350k in 2027

Coinbase CEO Says accounting error was not the reason behind FTX’s bankruptcy

 

https://bitcoinik.com/coinbase-ceo-says-accounting-error-was-not-the-reason-behind-ftxs-bankruptcy/feed/

https://bitcoinik.com/coinbase-ceo-says-accounting-error-was-not-the-reason-behind-ftxs-bankruptcy/feed/

 

 

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