The CEO of Coinbase says, “The world needs more crypto than ever,” as the world faces an increase from debt and stubborn inflation to stubborn inflation. He adds:
“Due to debt is increasing exponentially, inflation is crippling the entire country, and economic freedom is declining.”
Armstrong points to the astronomical level of US federal debt, which has recently surpassed $36 trillion, and the corrosive effect of inflation on purchasing power and living standards. He argues these factors have led to a decline in economic freedom and a growing sense of distrust among global citizens.
“The price of Bitcoin by chance is the highest ever. People are turning to Bitcoin as a shelter from inflation and deficit spending.”
Cryptocurrency, especially Bitcoin and Armstrong, cites individuals as a way for them to regain control of their finances, bypass centralized facilities, and access high-speed, low-cost global payments.
Coinbase CEOs not only advertise Crypto as an investment vehicle, but also frame it as a transformative technology that can update the entire financial system. He emphasizes that Crypto’s true potential lies in its ability to revolutionize everything from settlements to cross-border remittances to new models of artists and creators, to monetizing work without sacrificing margins to intermediaries.
By viewing Crypto as a fundamental technology rather than just a speculative asset, Armstrong believes that society can unlock new levels of innovation and economic participation. He closes his post:
“In summary:
– There are major problems with the current financial system. And they’re getting worse.
– Crypto eats the financial services industry.
– Coinbase is leading the price. ”Under Armstrong’s leadership, Coinbase has evolved from a simple crypto investment platform to a comprehensive financial service provider, and now aims to serve as an application layer for the next generation of internet tools.
Under Armstrong’s leadership, Coinbase has evolved from a simple crypto investment platform to a comprehensive financial service provider, and now aims to serve as an application layer for the next generation of internet tools.
Recent announcements such as a payment API for seamless USDC settlements and a new Coinbase card with Bitcoin rewards highlight the company’s commitment to making Crypto more accessible and useful in everyday life.
Coinbase CEOs provide a message of optimism and urgency despite citing the very realistic and pressing challenges facing the global economy. Crypto is not just a financial trend, it is a move to rebuild the financial system from scratch. And this empowers individuals, strengthens the national economy, and accelerates human progress. Armstrong’s call for action is clear. The world needs more cryptography than ever before.
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