### The troubles of Sam Bankman-Fried (SBF) are causing problems for a lot of institutions and retail investors. Thankfully, Binance is willing to jump in (pending due diligence) to help save international customers of FTX.COM (different from FTX.US). Binance looks like it will gain international customers, but it’s not the only one who could be winning customers.

Coinbase and other US centralized exchanges could gain the customers that FTX are losing. However, all centralized exchanges are in for a bumpy ride as customers will probably move to selfcustody pretty much 99.9% of their crypto holdings, if they haven’t done so already. There will be mass withdrawals over the next few days and it’s already happening. 

[![btc leaving exchanges](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/d7a7f95f-f99f-40af-d6d6-3159c0231500/public)](https://twitter.com/franscharts/status/1503921061716545536?s=61&t=QfgnwjXeXhd6m-d_2yyxxw)


t’s not just BTC and it’s not just coinbase. There’s a lot of withdrawals going on. But, the more pressing concern is: will coinbase be hurt by the drop in FTT? 

Coinbase clarified that it has limited exposure to FTT token, Alameda and only small deposits [on FTX.](https://www.coindesk.com/business/2022/11/08/coinbase-statement-says-no-exposure-to-ftt-token-and-alameda-minor-deposits-at-ftx/) 

“The company said it has minimal exposure to struggling crypto exchange FTX, with just $15 million on deposit there to facilitate business operations and customer trades. Coinbase further said it has no exposure to FTX's token FTT – which has plunged about 80% today – and no exposure to FTX sister company Alameda Research.” 

If Coinbase is fine (and not SBF’s version of “fine”), customers will come back and still use Coinbase’s services after all this blows over. As pointed out by this twitter user, Kucoin went through some FUD and even after mass withdrawals, every was really… fine (truly fine!) so the customers just came back. 

[![don](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/c2cc467f-a667-4c44-e3e2-a1a1c309d800/public)](https://twitter.com/doncryptodraper/status/1590237611129737217?s=61&t=QfgnwjXeXhd6m-d_%202yyxxw) 

Coinbase CEO Brian Armstrong fired out a much more believable twitter thread than what SBF sent. But, nowadays, how can we really be sure. Check it out and let us know in the comments below if you believe him. 

![01](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/f4bf21da-1e07-4748-019b-5a2b78d06e00/public)

![02](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/ed356294-b9de-433a-ac6c-26c55830cd00/public)

![03](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/14692276-f14c-4e4b-ee5b-25ec05a26800/public)

![04](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/f79bfd77-f08a-4efd-4f74-81aa93b17100/public)

For us at cryptoflash.report, the fact that Coinbase is publicly listed is very comforting. Publicly listed corporations are heavily regulated. The strict regulation pays off in times like this! Contrary to popular crypto opinion: regulation can be good for crypto! We are not invested in Coinbase but we are watching Coinbase carefully because it’s a good test of how well regulation can protect customers, and how responsible behavior is more profitable, in the long run. Coinbase is potentially a good case study on how centralized exchanges should be regulated.


The troubles of SBF are causing problems for a lot of institutions and retail investors. Thankfully, Binance is willing to jump in (pending due diligence) to help save international customers of FTX.COM (different from FTX.US). Binance looks like it will gain international customers, but it’s not the only one who could be winning customers. 

Wed Nov 09 2022

Coinbase Transactions Are Up

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Wed Nov 09 2022 Coinbase Transactions Are Up

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Wed Nov 09 2022

Coinbase Transactions Are Up