Brian Armstrong, Coinbase founder and CEO, reveals his stance in the ongoing downturn of the crypto market. Coinbase CEO Brian Armstrong clarifies his stance on the collapse of FTX, his rival exchange. He also confirms that he remains bullish in the current crypto situation. Coinbase CEO clarifies his position on FTX collapse Coinbase CEO speaks about FTX’s.
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Brian Armstrong, Coinbase founder and CEO, reveals his stance in the ongoing downturn of the crypto market. Coinbase CEO Brian Armstrong clarifies his stance after the collapse of FTX, his rival exchange. He also confirms that he remains bullish in the current crypto situation.
When Armstrong was talking about FTX’s former CEO, and FTX’s collapse, Coinbase CEO said that he was “one of the bad actors”. Armstrong also confirmed and assured that what happened at FTX would not happen on Coinbase. The CEO of Coinbase also demands clearer regulation. Notably, the FTX collapse after filing for bankruptcy protection is one of the most devastating crypto-world collapses.
He claims that cryptocurrency has many advantages. He also highlights several other “decentralised” features that Coinbase offers. He claims that cryptocurrency is a great alternative to traditional banking. This is what cryptocurrency promises.
Coinbase CEO also shares his conviction that cryptocurrency and blockchain technology should be used to challenge centralized government authority, advance financial sector and promote “economic freedom.”
The future of cryptocurrency and Armstrong’s legacy will depend on how governments and regulators decide to manage this virtual frontier. The US is home to bipartisan legislation and executive order. Crypto lobbyists are currently studying these issues. Armstrong says regulation “usually entrenches largest companies” and will benefit Coinbase.
He added a feature to the app in September that allows US users to see “crypto sentiment scores for members of Congress” based on their public statements. He also plans to support politicians who support crypto to raise money in cryptocurrency.
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