Brian Armstrong on financial inclusion
From Jamie Dimon called him ‘full of s--t.’ Brian Armstrong answers. · · POLITICO
“I think Americans should be able to earn more money on their money. Uh banks should have to compete on a level playing field. And if the American people feel like the banks are not paying high enough interest rates and stable coin rewards can offer them more, then maybe the banks should have to pay higher interest rates to compete.”
On , Brian Armstrong, Co-Founder, Chairman & Chief Executive Officer at Coinbase Global, spoke about financial inclusion during Jamie Dimon called him ‘full of s--t.’ Brian Armstrong answers. on POLITICO.
About Brian Armstrong
Brian Armstrong, co-founder and CEO of Coinbase, has continued to advocate for cryptocurrency adoption and regulatory clarity, describing the current period as one where "regulatory clarity is on the horizon" and stating he is "more bullish than ever." He told Politico that "the biggest way that US customers have gotten harmed in the past 5 to 10 years is that the lack of clarity in the US meant that many of these companies got built offshore" and argued that crypto is a "great democratizing force in terms of access to financial services." Armstrong also entered a public dispute with JPMorgan Chase CEO Jamie Dimon, who had called him "full of s--t," and said he was "a little perplexed" by the personal animosity. In the same interview, he stated that Coinbase's ultimate goal is "to be a bank replacement for people" and a "super app" providing all types of financial services. In a separate podcast, Armstrong described himself as a "disagreeable optimist" and argued that AI regulation should be limited until "material harm" is observed, adding that "it's much more likely that we end up in a world where it looks more like C3PO than Terminator." He said he is "okay with the idea of AI superseding humanity" and believes humans should "try to merge with that and evolve ourselves." On earnings calls, he emphasized Coinbase’s focus on diversification, stating that "payments is the next big use case in crypto" and that the company aims to be "the number one financial services platform in the world across custody, trading, payments, staking, borrowing and lending." He also commented on market conditions, saying that "this market correction is not that connected to any fundamentals" and that Coinbase will "continue to buy Bitcoin" and "keep building."