I don't really see a reason to be any more trusting in Coinbase than in FTX, since as far as most people were concerned, FTX was a completely reputable company just a month ago. Well, as reputable as crypto companies go anyways.
And now we have reports that FTX had a backdoor to "alter the company's financial records without alerting other people, including external auditors".
Well, for one thing, Coinbase has a board, and FTX did not. They also had no CFO. They were not “completely reputable” by any reasonable standard; it’s just that no one cared at the time.
Just listening to the bossman of FTX in interviews and reading about him was enough to make me swerve anything he touched. Seemed like a shop of cowboys.
And now we have reports that FTX had a backdoor to "alter the company's financial records without alerting other people, including external auditors".
https://www.reuters.com/markets/currencies/exclusive-least-1...