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.
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
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