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Parsing FTX’s 2021 growth in a Coinbase context

Over the weekend, CNBC reported a set of revenue and profit figures from FTX, a global cryptocurrency exchange that raised a mountain of capital in the last year and is currently expanding its product remit. Its founder, Sam Bankman-Fried, has been a key player in the crypto market in recent months, involved in several deals as the decentralized economy weathers a slowdown amid a barrage of bad news.
The data that CNBC uncovered paints a picture of strong growth, but a limited one — it didn’t get a hold of Q2 numbers. The information, FTX’s trailing private market cap, and re

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