Hacker News Reader

If this is FTX, which was supposedly among the cleanest exchange - do think where the rest of the industry will be at.

As David Gerard said: every crypto exchange is Quadringa, it's just a matter of which ones have exploded and which ones are yet to.

Coinbase seems like they are doing everything right? They might be the last one standing if they're actually being boring and following the rules.

....at which point the cryptocurrency sphere will be entirely centralized (apart from the very small number of people holding everything in their own wallets).

Yeah. It may just be the best on/off ramp for crypto but but without any real compelling applications for it idk what that's really going to accomplish. You'll still be able to pull crypto out and spend it.

If they are the last ones standing and find a way to run a profitable business, then we may just see more competitors crop up that aren't actually scams. Or maybe existing banks will jump in. Who knows.

Reply on news.ycombinator.com