Brian Armstrong Explains How Coinbase Will Survive Current Market
Brian Armstrong, the chief executive of Coinbase Global — the largest cryptocurrency exchange in the US — took to Twitter to answer some of his followers’ questions about how Coinbase will survive in the current hostile crypto market. People also wanted to know how Coinbase will turn this into an opportunity for growth.
The first point Armstrong brought up is that Coinbase is well capitalized and that “in past downturns, [it] pulled ahead and consolidated share, staying focused while others got distracted.” He also mentioned that these downturns make strong companies even stronger and the same can be said for Coinbase.
He also refers to Coinbase’s product suite and the fact that Coinbase is one of the few places where you can have a single crypto account and do every sort of crypto activity.
The issue of trustworthiness also came up as Armstrong explained that Coinbase is specifically trusted for its safety and compliance.
Armstrong also stated that Coinbase’s ease of use is a big advantage. He mentioned that there are still thousands of people who do not understand the ins and outs of crypto, but Coinbase allows these people to utilize crypto technology without having to fully understand the technical details.
Armstrong then concluded that Coinbase will come out stronger because the exchange will keep doing what it does best. This includes creating “great” crypto products that are trusted by its users, easy to use, and brings economic freedom to the world.