Coinbase CEO Brian Armstrong envisions cryptocurrency as a transformative force for the future, much like the internet’s impact in the past.
During Coinbase’s earnings discussion, Armstrong drew parallels between the revolutionary potential of blockchain and crypto today and the internet’s transformative role two decades ago.
He stated, “On-chain is the new online,” highlighting how blockchain empowers individuals to not only access but also own digital assets, opening new avenues in finance, art, and identity.
Coinbase’s financial performance is robust, with Q3 2023 earnings totaling $674.15 million, surpassing expert expectations and marking a 14% increase compared to the previous year.
However, Armstrong emphasizes the need for clearer regulatory guidelines in the United States to foster the crypto industry’s growth. Despite regulatory challenges, Coinbase is actively pursuing licenses for derivatives trading in the US and other countries.
Coinbase’s stock, COIN, is currently trading at $85.80, reflecting a 12% increase since the beginning of the month.
