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Coinbase founder and CEO Brian Armstrong unveil his stance amid the ongoing downturn in the crypto world. After the collapse of his rival exchange FTX, Coinbase CEO clears his stance and confirms he is still bullish amid the ongoing crypto situation.
Coinbase CEO clears his stand on FTX collapse
Coinbase CEO while talking about FTX’s former CEO and FTX collapse Armstrong said he was “one bad actor”. In addition to this, Armstrong confirms and assures what happened at FTX could “never happen” on Coinbase. Coinbase CEO also demands more regulation clarity. Notably, After filing for bankruptcy protection FTX collapse is one of the biggest collapses the crypto world has ever seen.
He claims that one of the main advantages of cryptocurrency is that you shouldn’t have to rely on outside parties before highlighting several more “decentralised” features of Coinbase. As a result, he says, you can rely on “the laws of math, if you will, rather than the laws of men.” “Can’t be evil is used instead of ‘don’t be evil. That is what cryptocurrency promises.
Coinbase CEO also aligns with his unwavering conviction that blockchain and cryptocurrency technology should be used to undermine centralized government authority, advance the financial sector, and ultimately promote “economic freedom.”
Armstrong’s legacy and the future of cryptocurrency depend on how regulators and governments ultimately choose to control this virtual frontier. Crypto lobbyists are studying bipartisan legislation and executive orders in the US. Regulation, according to Armstrong, “usually entrenches the largest companies” and will be advantageous for Coinbase.
In September, he added a new feature to the app that allows US users to view “crypto sentiment scores” for members of Congress based on their public statements, and he also made plans to support politicians who are in favour of crypto to raise money in the form of cryptocurrency.
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