The Ledger
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Armstrong: Only 5% of Coinbase employees took severance after 'no politics' memo
“It turned out it was about five percent of the company. We offered this exit package to people, anybody who was not on the same page and wanted to make it all win-win, about five percent of the company decided to take the exit package”
Armstrong: Coinbase preferred shutting down over pivoting to enterprise banking software
“If we have to pivot this company to be an enterprise software company, I think we maybe just want to shut it down and return capital to investors. Cause like, I just didn't want to run that company. Like we really were in it for the mission. We were a mission …”
Armstrong: Startup co-founders should ideally be people known for years
“Having a co-founder is like getting married, basically. Like, it should be somebody that you have worked with for years, and you've, at least maybe you've known them for years, ideally.”
Armstrong: Misjudged crypto adoption by expecting widespread everyday payments within four years
“If I could go back to my mindset at the beginning of Coinbase, I was like thinking, oh, you know, three or four years, There's going to be hundreds of millions of people using this as a payment method, and the whole network is going to scale, and I would have …”
Armstrong: Coinbase Would Not Have Succeeded Without Co-Founder Fred Ehrsam
“I don't think Coinbase would have been successful if I hadn't found Fred, so I am eternally grateful to him on that.”