{"id":21005,"date":"2025-02-09T11:30:24","date_gmt":"2025-02-09T09:30:24","guid":{"rendered":"https:\/\/forklog.com\/en\/coinbase-ceo-evaluates-exchanges-standing-in-us-financial-sector\/"},"modified":"2025-02-09T11:30:24","modified_gmt":"2025-02-09T09:30:24","slug":"coinbase-ceo-evaluates-exchanges-standing-in-us-financial-sector","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinbase-ceo-evaluates-exchanges-standing-in-us-financial-sector\/","title":{"rendered":"Coinbase CEO Evaluates Exchange&#8217;s Standing in US Financial Sector"},"content":{"rendered":"<p>With client funds amounting to approximately $420 billion, Coinbase could be considered the 21st largest bank in the United States. This was highlighted by the co-founder and CEO of the exchange, Brian Armstrong.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.<\/p>\n<p>If you think of us more like a brokerage, we&#8217;d be the 8th largest brokerage today by AUM.<\/p>\n<p>If you think of us\u2026<\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1887705506745299104?ref_src=twsrc%5Etfw\">February 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a brokerage firm, Coinbase would rank eighth in terms of assets under management, he added.<\/p>\n<p>According to Armstrong, the platform can also be seen as a payments company, given the volume of transfers in stablecoins alone, amounting to ~$30 trillion in 2024.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe fact is, with cryptocurrencies, the lines between these categories are blurred. There are many reasons why they are separated in <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>, and not all of them are significant. [\u2026] In the updated financial system, you will have one base account to service all these functions,\u201d the entrepreneur stated.<\/p>\n<\/blockquote>\n<p>Armstrong believes that over time, more than 8% of global GDP will be based on digital assets. These assets will provide lower transaction costs and greater economic freedom.<\/p>\n<p>In April 2024, Coinbase<a href=\"https:\/\/forklog.com\/en\/news\/coinbase-challenges-traditional-finance-with-15-million-crypto-ad-campaign\"> launched<\/a> a $15 million television advertising campaign contrasting TradFi and cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With client funds amounting to approximately $420 billion, Coinbase could be considered the 21st largest bank in the United States. This was highlighted by the co-founder and CEO of the exchange, Brian Armstrong. If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[757,138,1752,1138],"class_list":["post-21005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brian-armstrong","tag-coinbase","tag-financial-system","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21005"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21004"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}