Brian Armstrong (@brian_armstrong) on X (original) (raw)

Brian Armstrong

Brian Armstrong

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  There’s a generational shift happening, and Coinbase is uniquely positioned to capture it: 1) The onchain economy has reached escape velocity 2) Coinbase's full stack platform is powering it 3) The next frontier is agentic and on Coinbase Our thesis is simple: crypto is the
  
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  Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal. Feels like a turning point for citizen journalism and loss of trust in MSM.
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  Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we'll find Elizabeth Warren's fingerprints all over it (Biden himself was probably unaware). We're still collecting documents via FOIA
  
  Did you know that 30 tech founders were secretly debanked?
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  If you bought 100ofBitcoinwhenCoinbasewasfoundedinJune2012,itwouldnowbeworthabout100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about 100ofBitcoinwhenCoinbasewasfoundedinJune2012,itwouldnowbeworthabout1,500,000. If you kept the 100USDyou′donlybeabletopurchaseabout100 USD you'd only be able to purchase about 100USDyou′donlybeabletopurchaseabout73 worth of goods today. Bitcoin is the best performing asset of the last 12 years, and it's still early
  
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  Regarding the SEC complaint against us today, we're proud to represent the industry in court to finally get some clarity around crypto rules. Remember: 1. The SEC reviewed our business and allowed us to become a public company in 2021. 2. There is no path to "come in and
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  I got married this past weekend to my long term partner and best friend, Angela Meng! Can’t wait to build a life together.
  
  
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  1/ Some really sketchy behavior coming out of the SEC recently. Story time…
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  We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.
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  I don't care how messy your accounting is (or how rich you are) - you're definitely going to notice if you find an extra $8B to spend. Even the most gullible person should not believe Sam's claim that this was an accounting error.
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  Replying to @SenWarren and @SECGov
  FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore. Punishing US companies for this makes no sense.
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  This seems like the first election where new media has fully flipped traditional media. Long form podcasts, X/social, prediction markets etc deciding this election. Also holding traditional media accountable. Happened gradually then suddenly.
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  1/ There are a few key moments that define our future. One is happening now in the Senate w/ the infrastructure bill. At the 11th hour
  @MarkWarner
  has proposed an amendment that would decide which foundational technologies are OK and which are not in crypto. This is disastrous.
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  Coinbase is long bitcoin. Our holding increased by 2,772 BTC in Q3. And we keep buying more.
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  Great news! After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we're told to expect next week)