David Duong, head of institutional research at the exchange, says the collapse of Sam Bankman Fried’s platform didn’t lead to a pullback.

By Fran Velasquez

AccessTimeIconJan 30, 2023 at 11:52 p.m.

Updated Jan 31, 2023 at 2:12 a.m.

0 seconds of 1 minute, 59 secondsVolume 0%

Consensus 2023 Logo

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Institutional investors appear to have a steadfast interest in crypto, David Duong, head of institutional research at crypto exchange Coinbase, told CoinDesk TV’s “First Mover” on Monday.

“The secular trend for institutional adoption hasn’t changed … it’s still here,” Duong said about whether the implosion of the FTX crypto exchange founded by Sam Bankman-Fried soured investor interest.

FTX and Alameda Research, an affiliated hedge fund, collapsed in November after a CoinDesk report revealed that Alameda was largely being propped up by FTT, a digital token that FTX created out of thin air.

Duong said even in the midst of the FTX debacle that came on top of the crypto winter, institutional investors have recognized that “these are cyclical developments.”

Investors “are still here,” and are prepping for the next cycle by looking to “lay the foundation necessary to be able to trade,” he said.

Read more: FTX Creditor List Features Netflix, Binance, Wall Street Journal

Read more about

CoinbaseInstitutional AdoptionCoinDesk TVDavid duongCrypto

Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas. Email addressSign Up

By signing up, you will receive emails about CoinDesk product updates, events, and marketing and you agree to our terms of services and privacy policy.


Please note that our privacy policyterms of usecookies, and do not sell my personal information have been updated.

The leader in news and information on cryptocurrency, digital assets, and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase the stock outright in DCG.

CoinDesk - Unknown

Fran Velasquez

Fran is CoinDesk TV’s writer and reporter. He owns no crypto holdings.

Follow @_franvela on Twitter

Learn more about cryptoflings.com, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain, and Web3. Head to cryptoflings.com to register and buy your pass now.

Leave a Reply

Your email address will not be published. Required fields are marked *