The rise of cryptocurrency has reshaped global finance, and few platforms have played a more pivotal role than Coinbase. As the first regulated crypto exchange to go public on Nasdaq, Coinbase has not only delivered massive returns to Silicon Valley investors but also brought mainstream attention to the digital asset space. In a recent appearance on the Bankless Podcast, Coinbase co-founder and CEO Brian Armstrong shared deep insights into the company’s founding principles, long-term vision, and stance on emerging trends like NFTs, DeFi, the metaverse, and regulatory challenges.
This comprehensive discussion reveals how Armstrong sees Coinbase evolving—not just as a trading platform, but as a foundational piece of the next-generation financial system.
The Founding Story and Core Values of Coinbase
Brian Armstrong’s journey with crypto began in 2009 when he read the Bitcoin whitepaper. With a background in economics and computer science, he was immediately captivated by the idea of a decentralized protocol capable of transferring value—not just information.
“It felt like the next wave of the internet,” Armstrong said. “But the real question was: How do we make this usable?”
In 2012, Armstrong launched Coinbase with just two other early team members: Fred Ehrsam and Olaf Carlson-Wee. Their initial product was a custodial Bitcoin wallet—but adoption was slow. Despite gaining sign-ups through Reddit posts, users weren’t actively engaging.
“I called a few early users,” Armstrong recalled. “They said they liked the product, but had no Bitcoin to put into it.” That feedback sparked a pivotal shift: integrating a buy button directly into the app. Once users could purchase crypto seamlessly, growth accelerated dramatically.
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Why Coinbase Exists: Freedom, Innovation, and Global Access
When asked what drives him personally, Armstrong emphasized economic freedom—a value shaped during his time living in Argentina in 2009, where he witnessed firsthand the devastating effects of hyperinflation.
“Inflation quietly erodes the wealth of the poor. Cross-border payments are slow and expensive. These are unnecessary friction points in the global economy.”
For Armstrong, crypto isn’t just about speculation—it’s about building a fairer, more accessible financial system. His vision? One billion people using open financial infrastructure via Coinbase products.
This mission is embedded in Coinbase’s core values:
- Trustworthiness: Becoming the most trusted brand in crypto.
- Speed & Efficiency: Avoiding bureaucracy to enable rapid innovation.
- Relentless Innovation: Dedicating 10% of company resources to exploring new technologies.
Unlike many early crypto founders who moved into venture capital, Armstrong remains deeply involved in day-to-day operations—driven by curiosity, learning, and the desire to solve hard problems.
Coinbase’s Strategic Position: More Than Just an Exchange
While often compared to traditional banks or fintech firms, Armstrong envisions Coinbase as something entirely new: a crypto-native company, evolved beyond conventional categories.
“I’d rather be a tech company than a financial services firm—but even more than that, I want us to be a crypto company. The best tech companies will eventually become crypto companies.”
Coinbase serves three key customer segments:
- Retail investors – Offering easy access to buying, storing, and using crypto.
- Institutional clients – Providing secure custody and OTC trading solutions.
- Developers – Empowering builders through Coinbase Cloud and API tools.
This multi-pronged approach positions Coinbase as a bridge between traditional finance (Finance 1.0) and decentralized ecosystems (Finance 2.0).
DeFi: Partner, Not Competitor
Despite being a centralized platform, Coinbase embraces Decentralized Finance (DeFi) as a complementary force.
“We see DeFi as a partner,” Armstrong stated. “More users are exploring DeFi protocols, and we want to make that journey safer and easier.”
Coinbase supports DeFi through two main offerings:
- Coinbase Custody: Enabling institutions to interact with DeFi securely.
- Coinbase Wallet: A self-custody solution that grew 3x in one year, giving users direct access to DeFi dApps.
Unlike some competitors, Coinbase avoids launching its own blockchain (like BNB Chain), citing concerns over centralization risks.
“Building our own chain could’ve added $50B to our market cap—but I don’t want to contribute to centralization. Our protocol team now focuses on scaling existing blockchains, not creating new ones.”
This philosophy reflects a broader belief: true innovation happens on open, neutral protocols where developers feel safe building long-term projects.
NFTs and the Metaverse: Building the Digital Economy
One of Coinbase’s most talked-about moves has been its entry into the NFT space. Within days of opening registration, over 3.5 million people signed up for its NFT marketplace.
But this isn’t just another marketplace.
Armstrong sees NFTs as a gateway for the next wave of users—artists, gamers, creators—who may not yet understand blockchain but are drawn to digital ownership.
“We’re adding social features—profiles, follows, achievements—so it feels familiar, like Instagram for digital collectibles.”
Users can connect external wallets like MetaMask or use Coinbase Wallet to store NFTs. Crucially, they retain full control—NFTs can be withdrawn at any time.
The Metaverse Opportunity
With Facebook’s rebrand to Meta and Apple’s rumored AR/VR ambitions, Armstrong believes we’re entering a new computing era defined by virtual and augmented reality.
“Just as PCs gave way to smartphones, VR/AR will be the next interface. And crypto will power its economy.”
Coinbase aims to be the place where users store digital assets used across metaverse environments—without building games or UIs themselves.
“We won’t build the metaverse—but we’ll ensure people can bring their assets into any version of it.”
This aligns with his conviction that open protocols will dominate, forcing even giants like Meta to build atop decentralized infrastructure for interoperability.
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Regulation: A Critical Challenge—and Opportunity
Regulatory uncertainty remains one of the biggest hurdles for crypto’s growth. Armstrong expressed frustration over unclear guidelines from agencies like the U.S. Securities and Exchange Commission (SEC).
The now-suspended Coinbase Lend program was halted after the SEC threatened legal action—despite user demand and careful design.
“We need clear rules. If regulators won’t provide them, disputes will end up in court—and that’s where we may have to go.”
Still, Armstrong takes a collaborative approach:
- Hiring former Goldman Sachs executives as policy leads.
- Joining the Crypto Innovation Council, a coalition advocating for sensible regulation.
- Personally spending half his time engaging policymakers in Washington.
“Harmful regulation doesn’t hurt crypto—it hurts America’s competitiveness. We must lead in innovation.”
He acknowledges some regulators are well-intentioned but misinformed. Others may be protecting legacy interests. Either way, dialogue—and when necessary, litigation—is essential.
Looking Ahead: The Next Billion Users
For Armstrong, the first decade of crypto was about existence: proving blockchains work, launching exchanges, enabling trading.
“The next decade is about usage—how people actually live with crypto every day.”
Trends like NFTs, DeFi, decentralized identity, on-chain voting, and Web3 social media signal this shift. The focus is no longer on price charts but on real utility.
Even if self-custody becomes widespread—potentially reducing reliance on centralized platforms—Armstrong welcomes it.
“Short-term, it might affect our business. Long-term, it strengthens the ecosystem we’re all building.”
To stay ahead, he dedicates 10% of company resources to experimental projects—ensuring Coinbase doesn’t become complacent as new startups emerge.
Frequently Asked Questions (FAQ)
Q: Is Coinbase planning to launch its own blockchain?
A: No. While creating a proprietary chain could boost valuation, Coinbase prioritizes decentralization and interoperability over short-term gains.
Q: Can users fully control their NFTs on Coinbase’s platform?
A: Yes. Users can withdraw NFTs to any compatible wallet at any time, maintaining true ownership.
Q: How does Coinbase view competition from Binance and other global exchanges?
A: Armstrong focuses on building trust and regulatory compliance rather than market share battles. He believes sustainable growth comes from serving users ethically.
Q: What role does regulation play in Coinbase’s strategy?
A: Regulation is both a challenge and responsibility. Coinbase actively engages with policymakers to shape fair rules that protect consumers while fostering innovation.
Q: Will Coinbase replace traditional banks?
A: Not exactly. While some users already treat Coinbase as their primary financial account, the goal is integration—not replacement—by bridging legacy finance with crypto-native systems.
Q: How serious is Coinbase about the metaverse?
A: Very. While not building virtual worlds itself, Coinbase sees itself as critical infrastructure for digital asset storage and transfer across all metaverse platforms.
👉 Stay ahead in the evolving world of digital finance
As Brian Armstrong makes clear, Coinbase isn’t just riding the crypto wave—it’s helping build the shore. From empowering developers to advocating for smart regulation, from NFT innovation to metaverse readiness, the company continues pushing toward a future where financial access is universal, open, and user-controlled.
And for Armstrong? Retirement isn’t on the table—not when the most exciting chapter of crypto is just beginning.