The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 63 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Armstrong: GENIUS Act requires US-regulated stablecoins to hold 100% Treasury reserves
“Under the Genius Act that got passed into law last year, US regulated stable coins have to have 100% of the assets stored in short term US treasuries.”
Coinbase passes ~100% of stablecoin yield economics to active rewards users
“So when customers do that, we actually pass along about a hundred percent of the economics to them for holding those stable coins with us.”
Armstrong: USDC is the largest regulated stablecoin globally
“USDC is the largest regulated stablecoin, because it is compliant under Genius in the US, they're compliant under Mika in Europe, et cetera.”
Armstrong: Coinbase lists any legal crypto asset meeting minimum cybersecurity standards
“So what we try to do is have minimum listing standards. So if we believe that there's a cybersecurity risk to it the developer could, you know, rug everyone, or if it's certainly, it's illegal from a compliance point of view, you know, there's a few different …”
Armstrong: Coinbase attempted user crypto ratings, but abandoned them due to user bias
“We tried making user ratings at one point. It didn't go that well because people were basically voting with their, whatever they liked, you know.”
Armstrong: On-chain capital formation will be massive for private companies
“But anyway, I think on-chain capital formation is going to be massive for private companies.”
Armstrong: Coinbase is not leaving the United States
“Well, we're not leaving America, that's for sure.”
Brian Armstrong: Coinbase has reached over 100 million global signups
“Yeah, I mean, we've had over a hundred million people sign up globally.”
Armstrong: Crypto industry will move past FTX collapse around one year in
“Luckily, people turn the page on this thing, and they move on after about a year, and so I think we're coming up on that.”
Armstrong: Coinbase had no material exposure to FTX, Alameda, or FTT
“And I again, just for the sake of clarity, I should say that Coinbase did not have any material exposure to Alameda FTX or FTT token.”
Armstrong: Coinbase limits posting in large Slack channels to VPs and above
“Some of the things I mean, we've been trying is, for instance, if we get any kind of a slack room that has, say, more than 500 or a thousand people, we'll often try to limit it. So only, you know, you can, you have to be a VP or level nine and above can only p…”
Armstrong predicts regulators will adopt multi-category classification test for crypto
“We're going to eventually end up with some kind of a test that says, is this cryptocurrency a commodity, a security, a currency or something else like artwork?”
Armstrong: Coinbase does not have an exclusivity deal with Circle
“We don't have like an exclusive with circle or anything like that. We actually list other stable coins on our platform.”