The negative effects caused by the FTX fiasco have generally cast the crypto space in an unfavorable light. However, institutional investors are currently showing interest in the sector.
More users on Bitstamp exchange
According to the crypto exchange Bitstamp, compared to their data in October, the number of institutional registrations within the digital asset trading platform increased by 57% in November, as news came out that FTX had just collapsed. The crypto exchange also reported that its total revenue increased by 45% over the same period, with institutional revenue up 34% and retail revenue up 72%.
The exchange also emphasized that compared to October, the number of active global retail users also increased by 43% in November. This suggests that even with FTX a hot topic in the space, more crypto investors were actively trading within the Bitstamp exchange.
The on-chain analyst dubbed ‘Willy Woo’ also commented on the issue of traditional financial investors looking to space. In a tweet Woo argued that while the collapse of the FTX appears to be pushing the industry back, traditional investors see the situation as an opportunity to get in.
Underlying technology performs despite FTX crash
Recently, the financial services company Goldman Sachs expressed their intention to buy or invest in crypto companies. Goldman Sachs chief executive Mathew McDermott said the company is already doing due diligence and seeing opportunities while valuations are low. The director also noted that while FTX became a prominent example within the industry, the underlying technology behind the space still performs.
In the meantime, SEBA Bank aims to accelerate institutional adoption through a partnership with HashKey Group. On Dec. 5, the company announced that it is partnering with HashKey to accelerate the adoption of digital assets within institutions in Hong Kong and Switzerland.