Coinbase CEO Predict The Crypto Will Uptrend After A $200 Billion Price Crash

Brian Armstrong, the CEO of Coinbase, the largest crypto exchange in the United States, has forecast that looming crypto regulation will benefit the largest crypto companies over smaller rivals, calling the company “undervalued” after its 80% stock price drop.

Brian Armstrong is “just as positive on crypto as ever,” even after the crash of major Bitcoin, Ethereum, and crypto exchange FTX last month, he told the Financial Times, adding that Coinbase now appears “undervalued” after its shares fell from its Nasdaq list price in the spring of 2021.

Meanwhile, Armstrong anticipates that long-awaited bitcoin and cryptocurrency regulation, which is presently being debated by lawmakers in the United States and around the world, will entrench “the largest companies,” such as Coinbase.

The FTX disaster, which saw the exchange forced to declare bankruptcy due to a rise in withdrawals, is expected to galvanize regulators, who were already watching the crypto industry after its enormous 2021 bull run and 2022 crash.

“It would be fair to expect a shift in market structure in favor of decentralized platforms,” Serhii Zhdanov, CEO of crypto exchange EXMO, said in an emailed statement. “However, the FTX narrative may be a reason for authorities to tighten their standards for crypto firms, which, on the contrary, will lead to deeper centralization to secure full government control.”

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