How many Coinbases is FTX worth?

Image Credits: TechCrunch

Welcome to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for the crypto curious.

For our Thursday episode focused on major news topics this week, the crew broke down the latest blockchain happenings and volatility, including SEC Chairman Gary Gensler’s open letter to the crypto industry, which has web3 insiders fuming. 

In the episode, we also covered:

• A new report into the financials behind crypto exchange FTX, detailing how the rising giant stacks up to top competitors while offering insight into why investors are giving it a private valuation that’s twice the size of Coinbase’s public market cap. We had a lot to unpack!
• The chaotic court proceedings around Celsius’s bankruptcy woes and how the crypto lender is lashing out at previous partners through legal action as the company looks to shift blame for the way things went down.

Tune in on Tuesday for an interview with the CEO of fast-rising NFT marketplace Magic Eden, which is doing its best to tackle OpenSea’s domination of JPEG trading.

Chain Reaction comes out every Tuesday and Thursday at 12:00 p.m. PT, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.