Bitcoin News and Finance Coinbase CEO Highlights Crypto’s Impact on Economic Freedom — Calls Crypto ‘the Future of Money’ Skip to main content

Coinbase CEO Highlights Crypto’s Impact on Economic Freedom — Calls Crypto ‘the Future of Money’

Coinbase CEO Highlights Crypto's Impact on Economic Freedom — Calls Crypto 'the Future of Money'

Coinbase CEO Brian Armstrong has highlighted that crypto isn’t just here to say but it’s the future of money. Emphasizing that cryptocurrency “gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions,” he detailed: “The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in.”

‘Cryptocurrency Isn’t Just Here to Stay’

The CEO of cryptocurrency exchange Coinbase (Nasdaq: COIN), Brian Armstrong, published a blog post titled “The future of money is here — and it’s crypto” on the company’s website Tuesday.

He explained that after a “massive market correction,” crypto has witnessed a 90% increase in value this year, accompanied by a 60% surge in volume during Q4. He noted that currently, 425 million people globally own cryptocurrency and 83% of G20 countries and major financial hubs have either implemented or are in the process of establishing regulations to provide certainty for the industry. “With that kind of scale and momentum, innovation builds on itself,” he opined, emphasizing:

Cryptocurrency isn’t just here to stay – it’s the future of money.

“The industry has turned the page on the unlawful behavior that distracted from its progress; compliant growth is in,” he stressed.

The Coinbase boss further shared that consumers increasingly desire faster, more accessible, and autonomous money movement, challenging traditional financial institutions. “They also want to move it cheaply, without powerful institutions gating their access and charging high fees and interest rates,” he described. “Today in the U.S., half or more of key consumers and voters are actively seeking alternatives to the current system … Crypto is helping to create a more open, more global system.” The executive detailed:

SEC approval of spot bitcoin ETFs could spur new growth for crypto as an asset class. But as use of crypto has grown, so has its utility – from an asset class, to driving needed updates to the century-old financial system.

Armstrong emphasized: “Around the world, more than 100,000 merchants and payment rails themselves take payment in crypto, including Paypal and Visa. Among the reasons why: lower fees, higher speed, and access to new customers.” Moreover, he pointed out that last year, “global onchain stablecoin transfers approached $9 trillion – more than Mastercard, Amex, and Discover combined,” noting that stablecoins “help currencies like the U.S.dollar exist in digital form.”

The Coinbase CEO further detailed: “Countries with low economic freedom, such as Argentina, Brazil, and Nigeria, have among the highest usage rates of crypto payments and adoption as share of wealth (and are among the biggest populations in the world) … Workers living abroad use crypto to send remittances. About one in nine people globally depend on them. Crypto transfers, on average, are 96% cheaper than other transfers and take 10 minutes compared to up to 10 days.”

Armstrong stressed, “Global financial centers like London, Switzerland, Hong Kong, and Singapore are transforming themselves into crypto hubs to claim the jobs and talent that a more open, more global system will bring,” concluding:

Crypto gives people economic freedom, ensuring access to their own money and fair participation in the economy ungated by powerful legacy institutions – enabling people to build, create, and own their work.

Do you agree with Coinbase CEO Brian Armstrong? Let us know in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory