{"id":88487,"date":"2023-12-20T13:37:38","date_gmt":"2023-12-20T11:37:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88487"},"modified":"2025-09-13T18:22:37","modified_gmt":"2025-09-13T15:22:37","slug":"coinbase-ceo-anti-crypto-policy-a-poor-strategy-for-2024","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinbase-ceo-anti-crypto-policy-a-poor-strategy-for-2024\/","title":{"rendered":"Coinbase CEO: anti-crypto policy a poor strategy for 2024"},"content":{"rendered":"<p>Coinbase CEO Brian Armstrong criticised U.S. Senators Elizabeth Warren and Roger Marshall for attempts to marshal large banks against the crypto industry.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Senators Warren and Marshall now lobbying for big banks ?<\/p>\n<p>Being anti-crypto is a really bad political strategy going into 2024<\/p>\n<p>* 52m Americans have used crypto<br \/>* 38% of young people say crypto can increase economic opportunities<br \/>* just 9% of Americans satisfied with the\u2026 <a href=\\\"https:\/\/t.co\/diawa3LOX5\\\">https:\/\/t.co\/diawa3LOX5<\/a><\/p>\n<p>\u2014 Brian Armstrong ?\ufe0f (@brian_armstrong) <a href=\\\"https:\/\/twitter.com\/brian_armstrong\/status\/1737245697643339936?ref_src=twsrc%5Etfw\\\">December 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<cite>\u00abBeing against cryptocurrencies is a truly bad political strategy for 2024. 52 million Americans use digital assets. 38% of young people say that cryptocurrencies can increase economic opportunities\u00bb, he wrote.<\/cite><\/p><\/blockquote>\n<p>Armstrong said that only 9% of Americans are satisfied with the current state of the country&#8217;s financial system. He also noted that cryptocurrency prices have surged about 90% since the start of the year.<\/p>\n<p>The Stand with Crypto project is approaching 1 million supporters. Launched by the exchange in early March, the initiative aims to demonstrate the community&#8217;s demand for a balanced policy stance by authorities toward cryptocurrencies.<\/p>\n<p>A day earlier, Coinbase published a report that recalled a digital-asset audience of 425 million people. Of these, 210 million use Bitcoin. The corresponding information is contained in the September <a href=\"https:\/\/forklog.com\/en\/news\/experts-identify-28-crypto-billionaires\">report by Henley &#038; Partners<\/a>.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">2022: Crypto is dead.<br \/>2023: 425M people around the world own crypto.<\/p>\n<p>The future isn\u2019t just coming \u2192 it\u2019s already here.<br \/>Find out how: <a href=\\\"https:\/\/t.co\/077XAM2WA9\\\">https:\/\/t.co\/077XAM2WA9<\/a> <a href=\\\"https:\/\/t.co\/A9dkP6mKKq\\\">pic.twitter.com\/A9dkP6mKKq<\/a><\/p>\n<p>\u2014 Coinbase ?\ufe0f? (@coinbase) <a href=\\\"https:\/\/twitter.com\/coinbase\/status\/1737091730212618522?ref_src=twsrc%5Etfw\\\">December 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The same document states that there are six Bitcoin billionaires worldwide. Analysts also identified 88,200 individuals who own digital assets worth more than $1 million.<\/p>\n<p>Coinbase also listed other arguments in favour of using cryptocurrencies:<\/p>\n<ul class=\\\"wp-block-list\\\">\\n<\/p>\n<li>More than 100,000 merchants worldwide accept payments in digital assets, including Visa and PayPal;<\/li>\n<p>\\n<\/p>\n<li>In 2022, the on-chain volume of stablecoin transactions approached $9 trillion, more than Mastercard, Amex and Discover combined;<\/li>\n<p>\\n<\/p>\n<li>Countries with low economic freedom \u2014 such as Argentina, Brazil and Nigeria \u2014 have among the highest rates of cryptocurrency payments usage;<\/li>\n<p>\\n<\/p>\n<li>People working abroad send their earnings home via digital assets \u2014 roughly one in nine people worldwide depend on this;<\/li>\n<p>\\n<\/p>\n<li>International financial centres \u2014 London, Switzerland, Hong Kong and Singapore \u2014 are becoming cryptocurrency hubs to compete for jobs and talent in an open global system.<\/li>\n<p>\\n<\/ul>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<cite>\u00abCryptocurrencies give people economic freedom by providing access to their own money and fair participation in the economy. [\u2026] Coinbase&#8217;s mission is to provide economic freedom to more than 1 billion people\u00bb, the report says.<\/cite><\/p><\/blockquote>\n<p>Earlier it was reported that Coinbase, Ripple, Circle, Kraken and other Bitcoin market participants <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-companies-earmark-78m-to-back-pro-crypto-candidates-in-the-united-states\">allocated a total of $78 million<\/a> to support the Fairshake political action committee, which advocates pro-cryptocurrency candidates for the U.S. presidency.<\/p>\n<p>In June, Armstrong <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-ceo-says-us-elections-could-be-a-turning-point-for-crypto-regulation\">named<\/a> the upcoming US elections a key moment for regulating digital assets.<\/p>\n<p>According to the Grayscale report, the promotion of cryptocurrency candidates for the US presidency is driven by the forecast that Generation Z and millennials <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-explains-why-u-s-presidential-candidates-are-prioritising-bitcoin\">will constitute a substantial share of the electorate<\/a> \u2014 about 44%. Young people trust traditional institutions less and are more inclined toward new technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Coinbase chief executive Brian Armstrong criticised U.S. Senators Elizabeth Warren and Roger Marshall for attempts to marshal large banks against the crypto industry.<\/p>\n","protected":false},"author":1,"featured_media":88488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[757,138,1150,1138],"class_list":["post-88487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brian-armstrong","tag-coinbase","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88487","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=88487"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88487\/revisions"}],"predecessor-version":[{"id":88489,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88487\/revisions\/88489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88488"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}