Brian Armstrong on the future of Coinbase

Coinbase CEO Brian Armstrong said: current statement A common bitcoin and crypto position that quite a few people are concerned about. He warns that it is impossible to predict what will happen, and that virtually anything will happen. can Occur. So what does that mean?

Coinbase is moving up and down

The state of the crypto market is not doing well these days. Despite the recent bull market in late August, Bitcoin once again appears to be struggling to hold onto his low $20,000s position. This means the asset has fallen more than 60% from his November 2021 all-time high. ($68,000). Plus, he’s lost nearly $2 trillion in valuations across the space.

Several other digital currencies like Ethereum have also followed in Bitcoin’s footsteps, with Coinbase executives concerned about what could happen in about 12 months. He said:

You never know what the world will be like in a year from now. I think there is margin compression. Ultimately, it has to happen at some point.

Coinbase is one of several companies that have passed the factory in recent months. The company originally thought 2021’s bull market would continue, and determined that 2022 would be the year his workforce more than tripled over the past 12 months. But things took a nasty turn when bitcoin started to fall like never before.

Coinbase, which clearly admitted that the bear had taken over, freeze employment in place.This was eventually followed by full round of dismissalsSo the exchange lost over 18% of its staff.

Can things stay positive?

With Coinbase so tied to Bitcoin, the exchange is taking a big hit and Armstrong is confident the company can. , he remained mostly positive about the future, commenting that Coinbase has fallen into even worse ruts in the past. He said:

We have this saying internally. I want to repeat over and over again. I think one of the reasons Coinbase has been so successful over the past decade is that it doesn’t focus on short-term ups and downs.

Coinbase is arguably the largest and most popular digital currency exchange in the Western Hemisphere.

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