The Ledger
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Armstrong: Majority of Global Payments Will Run on Crypto Rails
“Crypto's gonna update the entire financial system globally, and, like, the majority of all payments will run on these crypto rails.”
Armstrong: Fairshake PAC Raised Hundreds of Millions with 2M Crypto Advocates
“We had like two million Advocates who raised their hand in the US saying they wanted to elect a pro crypto Congress and candidates. We had like a couple hundred million dollars in the fair shake super pack.”
Armstrong: US Is on the Cusp of Passing Stablecoin Legislation
“And so we now have the most pro crypto Congress that we've ever seen. And we're on the cusp of getting stable coin and fair and market structure legislation passed.”
Armstrong voted against USDC, which now makes Coinbase ~$1B in revenue
“USDC, I will tell you, I actually voted no on USDC to like, which was a terrible, now it's like almost a billion dollars of revenue or something for us.”
Armstrong: Most traditional securities will be tokenized on-chain within five years
“So I actually think, like, most traditional securities are going to get tokenized on chain in the next five years.”
Armstrong: Most traditional securities will tokenize on-chain within five years
“So I actually think like most traditional securities are going to get tokenized on chain in the next five years.”
Armstrong: Satoshi Nakamoto was probably Hal Finney, Nick Szabo, and collaborators
“It's probably some combination of, like, Hal Finney and Nick Szabo and maybe one other person, but that's my guess, is that it was a collaboration between those people and, you know, but ultimately it doesn't matter.”
Armstrong: Satoshi Nakamoto was likely a collaboration of Finney, Szabo, and others
“It's probably some combination of, like, Hal Finney and Nick Szabo and maybe one other person, but that's my guess, is that it was a collaboration between those people”
Armstrong: I Voted Against Coinbase Launching USDC
“USDC, I will tell you, I actually voted no on USDC to like, which was a terrible, now it's like almost a billion dollars of revenue or something for us.”
Armstrong: AI Now Handles Roughly 60% of Coinbase Support Inquiries
“Our customer support, I think like maybe 60% of inquiries are being answered by AI now, which is really good.”
Armstrong: Coinbase Issued a $20 Million Bounty to Catch Extortionists
“We put out a twenty million dollar bounty for any information leading to their arrest. And conviction.”
Severe inflation drives Bitcoin demand in Turkey and Nigeria
“Where people, like in Turkey, they're getting like, 70% inflation a year or something. It's just like, it's devastating to their entire economy. People have very high demand for the dollar and then Bitcoin. Same thing in Nigeria, et cetera.”
Armstrong: Coinbase is working with SEC task force on tokenizing securities
“We, we've been working a little bit with, like, the SEC task force on this and trying to find the right path to do it.”
Armstrong: Coinbase developing AI agent checkout solutions with USDC on Base
“We're working on a couple of checkout type solutions with other players that we'll announce soon where the AI agent can actually get through the checkout flow in many of these e-commerce sites and pay with USDC on base.”
Armstrong: AI agents will act as personal registered investment advisors
“I think it's also, we're going to get, like, AI agents that can be kind of like your RIA, like your registered investment advisor, or almost like your trading bot.”
Armstrong: Attackers demanded $20 million extortion payment from Coinbase
“They sent us this demand once, once we were, you know, they realized they'd been found out, and customers were kind of getting educated about this they sent us this demand for twenty million dollars, or we're gonna release all this information.”
Coinbase's $20 million extortion bounty generated 5,000 tips and 70 leads
“So we had like maybe 5000 like tips or inquiries like come into the email that we put out there. Most of it was junk, and we kind of wheeled it down. There's about like 70 or so credible leads, I would say.”
Armstrong admits Coinbase NFT and Japan expansion both flopped
“We launched Coinbase NFT, and it was pretty much a flop. Like, we launched Coinbase in Japan. We invested all this money and time, like, Didn't work for a bunch of reasons. I can tell you if you want and we shut that down”
Armstrong: High software margins mask mistakes unlike capital-intensive biotech
“In software, our margins are high, and it kind of covers up mistakes that we make, and we actually had revenue relatively early in our journey, whereas, in, like, in biotech, you have to invest in it for 10 years to try to get your first dollar revenue sometim…”
Armstrong: Coinbase Super Bowl ad drove 20-30M visits in 20 seconds
“So our site actually crashed because we got about, like, 20, it was like 20 or thirty million visits in, in 20 seconds, like, and we knew there was gonna be a big surge, and so we had, like, I think the first page loaded and it was heavily cached, but then lik…”
Coinbase greenlights internal projects with a single sponsor's approval
“So we actually set up this thing called we call it, like, Next Bets, and twice a year, anybody in the company can come pitch it's, like, a group of people, we call it, like, internal venture capital, and they're basically the people who run different product g…”