Companies who stand the test of time are usually very open to evolution. This requires a change, however fundamental, in their basic design, core business and functions. This change is usually also continuous and as the world changes, the individuals and institutions contained within it, also should. This need for evolution has been highlighted by Brian Armstrong, the CEO of Coinbase, one of the biggest cryptocurrency exchanges in the world. According to Armstrong, Coinbase, in a few years, will evolve to a powerhouse driving adoption of cryptocurrency from being just an exchange and trading platform.
Coinbase Will Bridge the Gap
Armstrong expressed this view during a recent Ask Me Anything (AMA) session on YouTube on Friday the 19th of July. According to him, Coinbase will do more than just provide trading services and will also have a focus on bridging the gap between crypto and the world, bringing everyone as close as possible to crypto adoption. He said one of the ways this will be done is through certain programs the firm will embark on, much like the currently running Coinbase Earn which lets people earn crypto for learning about the assets. He also speaks about Coinbase supporting margin trading and lending. Armstrong mentioned that:
“In five years I hope that we’ll have it even further beyond that. There’ll be thousands of companies that’ll be crypto-first.”
People Can Leave Coinbase to Float Crypto Ventures
Because Armstrong is very passionate about cryptocurrency adoption, he also noted that he’s very supportive of people who leave Coinbase’s employ to start their own cryptocurrency endeavours. According to him, people who want to do this are more than welcome to do so because he wants employees to learn from Coinbase and take this knowledge elsewhere to do great things which would eventually push adoption forward.
Armstrong further mentioned he knows about the term “Coinbase Mafia” which is used to describe some of Coinbase’s former employees who are now very influential members of the current crypto world. Much like the “PayPal Mafia”, these former Coinbase employees have gone on to do great things including starting venture firms and multi-million dollar hedge funds. Notable names here include Litecoin Founder, Charlie Lee; Polychain Capital CEO, Olaf-Carlson Wee; Managing Directors of Scalar Capital, Linda Xie and Jordan Clifford; and Dharma Labs CEO and Co-Founder, Nadav Hollander.
Talking supportively about these people and by extension any others who are interested in following these footsteps, Armstrong said “We’re just gonna keep doing more and more of that.”
Trump Comment About Digital Assets is “Achievement Unlocked”
U.S. President Donald Trump, recently took to his Twitter, talking about cryptocurrency and how he’s just “not a fan.” A lot of reactions trailed the tweets but very notable is Armstrong’s. Along with a few other people, Armstrong believes that if Trump felt the need to publicly say something negative about Bitcoin, then there’s a good chance that him, and other world leaders are aware that they can’t stop it.
“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y’all.”