CEO and Founder of Coinbase Bullish Despite Rival FTX Fall

Coinbase CEO Discloses $39.9B Bitcoin Holdings Post FTX Fall
  • Coinbase CEO Armstrong referred FTX former CEO as “one bad actor.”
  • The head of Coinbase has also called for clearer regulations.

CEO and founder of Coinbase, Brian Armstrong, has spoken out about the cryptocurrency market’s current collapse. When asked about his feelings about the current crypto landscape, Coinbase’s CEO made it obvious that he is still positive despite the recent collapse of his competitor exchange, FTX.

When asked about the former FTX CEO and the bankruptcy of FTX, Coinbase CEO Armstrong referred to him as “one bad actor.” Additionally, Armstrong affirms and guarantees that the same thing that occurred at FTX could “never happen” on Coinbase. The head of Coinbase has also called for clearer regulations. Notably, FTX’s fall is one of the largest in the history of the cryptocurrency market after the company filed for bankruptcy.

Confident in Both Coinbase and the Sector

He says that not having to depend on third parties is a major benefit of cryptocurrencies, and then goes on to list numerous other “decentralized” benefits of Coinbase. 

Coinbase’s CEO shares his firm belief that blockchain and cryptocurrencies may be used to disturb centralized governments, improve the economy, and secure people’s right to “economic freedom.”

What happens to cryptocurrencies and Armstrong’s legacy depends on how governments choose to manage the digital frontier. Those that advocate for crypto in Washington, DC, are analyzing bills and executive orders from both parties. Armstrong claims that regulation “usually entrenches the largest companies” and that this will work to Coinbase’s benefit.

In September, he implemented a new feature that lets US users see “crypto sentiment scores” for members of Congress based on their public comments, and he also has plans to help politicians who are in favor of crypto to raise money in crypto.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.