Crypto Leaders’ Comments on FTX’s Overnight Collapse

Dujun, Co-founder of Huobi

If centralised institutions can launch 100% reserves or some other measures to promote asset transparency, it will be very beneficial to the development of the entire crypto industry.

Star Xu, Founder of OK Group

If Binance get 100% market share and BNB market cap exceed BTC, the industry will get failed and CZ will lose everything.

Arthur Hayes, Co-founder of 100x

FTX = Lehman. That wasn’t the bottom; $17,500 BTC is at risk.

Jeremy Allaire, Co-founder of Circle

Lack of transparency, lack of counter-party visibility, and project treasuries and balance sheets anchored in speculative tokens are root causes.

Brian Armstrong, Co-founder of Coinbase

Coinbase sees increased activity on its trading platform following the drama over the potential acquisition of FTX by Binance. Armstrong doesn’t have the plan to try and buy FTX.US.

Vitalik Buterin, Co-founder of Ethereum

SBF’s net worth was down to about $1B, which is still much more than Vitalik claimed he had.

Flori Marquez, Co-founder of BlockFi

BlockFi has a $400M line of credit from FTX.US and will remain an independent entity until at least July 2023. BlockFi is processing all client withdrawals in line with its Terms of Service.

Jesse Powell, Co-founder of Kraken

Hopes that consumers come to demand regular Proof of Reserves audits.

Erik Voorhees, CEO of ShapeShift

Supported DeFi instead of regulated and compliant CEX.