Coinbase CEO Brian Armstrong on Bitcoin: “Don’t Be FOOLED – They Want Your Crypto…” (Time To BUY)
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In recent weeks, Bitcoin, Ethereum and the rest of the crypto market have been highly volatile – more so than usual. This is largely due to the US financial watchdogs and the SEC, which have turned their sights on Binance and Coinbase – the world’s largest cryptocurrency exchanges – with lawsuits.
These regulatory bodies accuse Coinbase of dealing in unregistered securities, implying they sold cryptocurrencies without the necessary permissions.
The allegations against Binance are even more serious. They face charges of money laundering, fraud, and dealing in unregistered securities. These are just some of the much more serious legal challenges faced by their CEO, CZ, and the company.
Banks globally are reacting to these accusations. Many have severed ties with Binance, Coinbase, and even general cryptocurrency transactions, disrupting key points of entry and exit into the cryptocurrency market. This has dealt a heavy blow to crypto prices, as concerns mount over future developments.
One individual particularly upset by this situation is Coinbase CEO Brian Armstrong, who has been virtually pleading with the SEC and US regulators to offer clear guidelines for the crypto industry, and instructions on how these platforms can balance the complexities of cryptocurrency with traditional finance.
Adding to the frustration is the fact that the SEC had given Coinbase the green light to go public with an IPO in 2021, endorsing their business activities. Now, they seem to be backpedaling and retroactively penalizing exchanges for their past business practices.
The US seems to be mishandling the unique opportunities and innovation that the cryptocurrency market can bring to its economy. Brian Armstrong hinted at this when he mentioned that Coinbase is considering moving their headquarters and operations to England, a country that appears to be more friendly and transparent toward cryptocurrencies in their lawmaking.
In his latest public statement, Brian had this to say about the SEC’s recent actions and his thoughts on the Coinbase vs Binance lawsuits and why he believes they are drastically different.
About Brian Armstrong: Brian Armstrong is an American business executive, billionaire and investor who is CEO of cryptocurrency platform Coinbase. He received media attention for his policy of keeping the workplace free of political activism.
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