unlikely. FTX was a tiny tech startup with an office in the Bahamas. Coinbase is a publicly traded US company with all the regulatory oversight that requires.
There is a 0% chance that coinbase is defrauding Blackrock and the others it's operating as a custodian for.
The people running coinbase would spend the rest of their lives in prison. SBF might be stupid enough to walk down that path but the guys at coinbase are not so stupid.
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The regulators didn't catch Enron, Tyco, or any of the banks in 2008 until after the collapse.
Regulators only know how to catch old kinds of fraud and they are only looking for that hard enough to not get fired. Crypto is a new kind of fraud they do not seem to understand yet. It is in the governments best interest not to get it because if they announced "this is the fraud the crypto industry is doing" that would be orange pill magic for plebs who could point out that is exactly how the central banking system works.
TLDR, take a step back and ask yourself if you have a single life experience you can point to that supports your belief in government competence.
