Coinbase CEO Has Mission To Defend Crypto Industry

“Be a champion for the whole industry and defend the whole industry” – Said Coinbase CEO Brian Armstrong at the Mainnet 2022 in New York City.

The CEO of two leading crypto platforms Coinbase and Messari sat down to discuss the path for growing Coinbase in this industry. Amstrong acknowledged that being one of the largest crypto exchanges means the firm has to face many difficulties, as he said ” Put Us On the Main Stage“.

At this time Coinbase is at the heart of many lawsuits in the world. However, he and his company still keep the viewpoint of defending the vulnerable cryptocurrency industry from any unfair policies. The obligation doesn’t mean following all the rules, innovation prohibition, or any exceeded regulatory authority.

Following this point, Coinbase has backed Tornado Cash’s lawsuit against the sanction of the US Treasury.

“Sanctioning open source software is like permanently shutting down a highway because robbers used it to flee a crime scene,” The Coinbase CEO wrote on this company’s blog. Sanctions are just a way to limit innovations and build a world with less privacy and security.

Amstrong also had many private discussions with several CEO about the decision of going public. There are many pros and cons when something has been publicized.

“[Going public] has put us on the main stage, where we’re able to get deals done with BlackRock and companies like Meta”. Being the first crypto company in the list of Fortune 500 means Coinbase has potential deals with other largest companies on this list. One more positive side of being on the stage is raising funds ability. At that time, Coinbase CEO Amstrong announced that this firm has raised up to $3 million of debt just in a week without any single meeting requirements.

The drawback, he said, is the siege of the media. Sometimes, there are anti-tech biases instead of labeled opinions. And, that’s not helpful.

Another negative side is compliance with all regulatory authorization. Coinbase is facing the SEC accused of the unregistered exchange list as securities.

Despite all challenges, Coinbase CEO said that the priority at this time is to create more products with customer protection using KYC and AML with the support of regulators for the largest vision of defending the crypto industry.

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Ken

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