Coinbase: $15M Deposited on FTX, No Other Business Engagement with Alameda and FTX

Coinbase issued an announcement stating that Coinbase has a $15 million deposit on FTX, and has not contacted Alameda Research nor provided loans to FTX. Coinbase stated that as a US listed company, Coinbase holds customer assets at a ratio of 1:1, and any institutional lending activities are at the discretion of customers and backed by collateral, and there is no channel for customer loan recalls or withdrawals. The third-quarter financial report shows that Coinbase holds $5.6 billion in available cash liquidity, including $5 billion in U.S. dollars and cash equivalents. In addition, Coinbase also stated that members of its team have decades of experience managing trade and credit businesses through a range of economic cycles and have invested in risk management capabilities since its inception.