HomeBitcoinDespite the FTX collapse, institutional investors are still interested in cryptocurrency.

Despite the FTX collapse, institutional investors are still interested in cryptocurrency.

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According to Bitstamp data, institutional registrations on the trading platform increased by 57% in November.

The negative effects of the FTX debacle have cast a negative light on the crypto space. Even in the midst of the FTX controversy, institutional investors remain interested in the industry.

According to Bitstamp, institutional registrations on its digital asset trading platform were up 57% in November compared to October, when the FTX collapse dominated news headlines. The exchange also informed Cointelegraph that its total revenue increased by 45% during the same period, with revenue from institutions increasing by 34% and retail traders increasing by 72%.

The exchange also stated that active global retail users increased by 43% in November compared to October, with US-based users increasing by 18%. This implies that, despite the fact that FTX was a hot topic in the space, more crypto investors were actively trading on the exchange.

Willy Woo, an on-chain analyst, also commented on traditional finance investors’ interest in the space. Woo argued in a tweet that, while the FTX collapse appears to have resurrected the industry, traditional finance capital allocators see the situation as an opportunity to enter. “They see Bitcoin and cryptocurrency are here to stay and have been de-risked,” he wrote.

Goldman Sachs announced its intention to buy or invest in cryptocurrency companies on December 6. Mathew McDermott, a Goldman Sachs executive, stated that the firm is already conducting due diligence and seeing opportunities while valuations are low. The executive also stated that, while FTX became a prominent example in the industry, the underlying technology in the space is still performing well.

Meanwhile, SEBA Bank hopes to accelerate institutional adoption through a collaboration with HashKey Group. On December 5, the company announced that it will collaborate with HashKey to accelerate digital asset adoption in Hong Kong and Switzerland.

On November 4, Fidelity Digital Assets released a survey that revealed why institutions are accumulating crypto in 2022. Chris Kuiper, the head of research at Fidelity Digital Assets, previously told Cointelegraph that there is an increase in institutions holding crypto, and 78% of respondents plan to enter the space in the future.

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