For Coinbase, FTX’s Bankruptcy Has Its Pluses and Minuses

But there is a silver lining, according to Chris Brendler, an analyst at D.A. Davidson Company. Coinbase’s status as a public company may help the firm win over some new customers as FTX users who were blindsided by that firm’s sudden collapse come to embrace Coinbase, which is legally required to submit itself to rigorous audits and publish reports on its financial health.