Coinbase CEO Brian Armstrong expresses optimism for the crypto industry’s future after historic Binance settlement, emphasizing the potential for regulatory clarity to attract more investment.
Coinbase CEO’s Remarks on Binance Settlement
During an interview with CNBC, Coinbase CEO Brian Armstrong stated that the cryptocurrency industry can leave behind a series of scandals and issues following the U.S. Department of Justice’s significant settlement with Binance.
Impact of Regulatory Clarity on Investment
Armstrong highlighted the potential for regulatory clarity to draw in more investment, particularly from institutional investors, and emphasized the role of crypto companies in developing the global financial system.
Debunking Notions on Illicit Crypto Use
Armstrong refuted claims that crypto is predominantly used for illegal activities, stating that illicit activity in crypto is less than 1%, contrasting it with the prevalence of illicit cash usage.
Global Investment Summit in the U.K.
Attending the Global Investment Summit in the U.K., Armstrong discussed the positive reception of Coinbase at the event, commended U.K. Prime Minister Rishi Sunak’s leadership in digital currencies, and revealed increased investment in the U.K. by Coinbase.
Legal Battle with SEC and Commitment to U.S. Market
Amid a legal dispute with the U.S. Securities and Exchange Commission, Armstrong expressed confidence in Coinbase’s position and affirmed the company’s active investment in the U.S. market, countering speculation about moving offshore.