Categories: Market

Coinbase CEO “Coffee” Binance Smart Chain after abandoning the loan plan

In one episode The pomp podcast Recently, Coinbase CEO Brian Armstrong “kicked” Binance Smart Chain – a blockchain that launches smart contracts that exploded in popularity earlier this year:

“It appears that 50% or more of the governance tokens in this case are controlled by one company – Binance. And Binance is even in the token name itself. “

Armstrong went on to say that such centralized blockchains are “quite dangerous”:

“I see it as bad when most of the activity is generated on centralized blockchains. I think it’s really dangerous. So I hope that we will get decentralized but also scalable blockchains. “

Although criticized by the Bitcoin community for focusing too much on altcoins, Armstrong revealed that he owns “a lot” of the oldest cryptocurrency.

He added that it will take forever, comparing the king of cryptocurrency to gold.

Armstrong claims that crypto will last forever, comparing the king of crypto to gold, but he’s against crypto tribalism:

“I was a little disappointed when I saw tribalism on the internet. Twitter was built for conflict and war, and I don’t think it really reflects the sentiments of the majority of the industry. “

He said that Coinbase is blockchain agnostic and tries to support as many projects as possible as long as they are legal in a particular jurisdiction.

Coinbase will benefit from regulations

Armstrong argues that while regulations are good for Coinbase, they will hurt smaller startups:

“Honestly, regulation will be best for Coinbase because we are the biggest … We have a huge balance sheet, we have a lot of lawyers on our staff … The audience affected are smaller crypto startups. Regulation will hold them back. “

Previously, Coinbase had discontinued its Lend product after the SEC threatened a lawsuit, such as Bitcoin magazine reported.

Armstrong predicts there will be more enforcement action until a legal precedent is set.

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Annie

According to U.today

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Coin base will benefit from regulations Armstrong argues that while regulations are good for Coin base, they will hurt smaller startups: “Honestly, regulation will be best for Coin base because we are the biggest … We have a huge balance sheet, we have a lot of lawyers on our staff … The audience affected are smaller crypto startups. Regulation will hold them back. ” Previously, Coin base had discontinued its Lend product after the SEC threatened a lawsuit, such as Bitcoin magazine reported. Armstrong predicts there will be more enforcement action until a legal precedent is set. Join Bitcoin Magazine Telegram to keep track of news and comment on this article: balance sheet, we have a lot of lawyers on our staff … The audience affected are smaller crypto startups. Regulation will hold them back. ” Previously, Coin base had discontinued its Lend product after the SEC threatened a lawsuit, such as Bitcoin magazine reported. Armstrong predicts there will be more enforcement action until a legal precedent is set. Join Bitcoin Magazine Telegram to keep track of news and comment on this article: balance sheet, we have a lot of lawyers on our staff … The audience affected are smaller crypto startups. Regulation will hold them back. ” Previously, Coin base had discontinued its Lend product after the SEC threatened a lawsuit, such as Bitcoin magazine reported. Armstrong predicts there will be more enforcement action until a legal precedent is set. Join Bitcoin Magazine Telegram to keep track of news and comment on this article: balance sheet, we have a lot of lawyers on our staff … The audience affected are smaller crypto startups. Regulation will hold them back. ” Previously, Coin base had discontinued its Lend product after the SEC threatened a lawsuit, such as Bitcoin magazine reported. Armstrong predicts there will be more enforcement action until a legal precedent is set. Join Bitcoin Magazine Telegram to keep track of news and comment on this article:

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.