The negative effects caused by the FTX debacle have put the crypto space in an unfavorable light. However, institutional investors continued to show interest in the industry even at the height of the FTX controversy.
According to the Bitstamp cryptocurrency exchange, compared to its October data, institutional registrations within its digital asset trading platform increased 57% in November, when the topic of the FTX collapse frequented the news headlines. The exchange also told Cointelegraph that its total revenue increased 45% in the same period, with revenue from institutions up 34% and from retail traders up 72%.
The exchange also highlighted that compared to October, active global retail users in November were also up 43%, with US-based users up 18%. This suggests that even with FTX being a hot topic in the space, more crypto investors were actively trading within the exchange.
Network analyst Willy Woo also commented on the subject of traditional financial investors looking at space. In a tweet, Woo argued that while the FTX collapse appears to set the industry back, traditional financial capital allocators are seeing the situation as an opportunity to get in. risky," she wrote.
On December 6, financial services firm Goldman Sachs expressed his intention to buy or invest in crypto companies. Goldman Sachs executive Mathew McDermott recently mentioned that the company is already doing due diligence and seeing opportunities while valuations are low. The executive also noted that while FTX became a leading example within the industry, the underlying technology behind the space is still working.
Related: Sam Bankman-Fried Hires Defense Lawyer As US Authorities Probe FTX: Report
For its part, Banco SEBA intends to accelerate institutional adoption through a partnership with HashKey Group. On December 5, the company announced that it will work with HashKey to accelerate the adoption of digital assets in institutions in Hong Kong and Switzerland.
On November 4, a survey published by Fidelity Digital Assets showed why institutions are hoarding cryptocurrencies in 2022. In a previous Cointelegraph interview, Chris Kuiper, head of research at Fidelity Digital Assets, mentioned that there is an increase in institutions holding cryptocurrency, while 78% of respondents plan to enter the space in the future.
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