I have been thinking about all of the failures in the cryptocurrency world lately. FTX and no BlockFi.

I have been reading articles about Coinbase, and how the CEO Brian Armstrong reports (https://www.cryptoglobe.com/latest/2022/10/is-coinbase-going-bankrupt/) it will not go bankrupt. I trust any crypto leader as far as I can throw them, which is not much.

I have been reading further, that if it does, any investors will be counted as secondary creditors/contractors. Meaning, they would not necessarily get their money back in case of a bankruptcy.  Cryptocurrencies do not have something like the FDIC to back up investments. There may be little to nothing one can do a about a Coinbase bankruptcy unless you have your money stored in a crypto wallet.  

I have some concerns, if a company is doing well there would be no reason to make a statement about not filing bankruptcy. This usually happens when there is truth to the rumor and the CEO does not want to start a mass exodus of users or investors.  I am worried but cautiously optimistic. Hopefully not famous last words.

So far, there has been some positives for Coinbase regarding the failure of FTX and Blockfi. The positive is possible new users, the problem is these bankruptcies create more doubt and panic in the industry.  

There needs to be some positives for Coinbase to survive. Cryptocurrencies will live long, will Coinbase?