Coinbase CEO highlights 3 crucial reasons the world needs crypto
As the world deals with increasing economic concerns from soaring financial obligation and persistent inflation to diminishing rely on banks, Coinbase CEO states, ‘The world needs crypto, now more than ever.’ He adds: ‘Debt is growing tremendously, inflation is debilitating entire nations, economic flexibility is declining.’ Armstrong points to the huge level of U.S. federal debt, which recently surpassed $36 trillion, and the destructive effects of inflation on buying power and living standards. These factors, he argues, have led to a decline in financial flexibility and a growing sense of mistrust among global citizens. ‘It’s no coincidence Bitcoin prices are at all-time highs. People are turning to Bitcoin as a haven from inflation and deficit spending.’ Crypto, and specifically Bitcoin, Armstrong mentions as a car for individuals to gain back control over their financial resources, bypass centralized organizations, and access fast, inexpensive international payments.
The Coinbase CEO doesn’t just promote crypto as an investment vehicle but rather frames it as a transformative innovation capable of upgrading the entire financial system. He highlights that crypto’s true potential lies in its ability to transform everything from settlement times and cross-border remittances to new models for developers and artists to monetize their work without sacrificing margins to intermediaries. By viewing crypto as a foundational technology rather than just a speculative asset, Armstrong believes society can unlock new levels of innovation and economic participation. He closes his post stating: ‘In summary: There are significant issues with the current monetary system. And they are getting worse. Crypto is eating the financial services market. Coinbase is leading the charge.’
Under Armstrong’s leadership, Coinbase has evolved from a simple crypto investment platform into a comprehensive financial services provider, and now aims to act as an application layer for the next generation of internet tools. Recent announcements, such as payment APIs for seamless USDC settlements and a new Coinbase card with Bitcoin rewards, highlight the company’s commitment to making crypto more practical and accessible in everyday life.
Despite pointing out the very real and pressing challenges facing the global economy, the Coinbase CEO delivers a message of optimism and urgency. Crypto is not just a financial trend but a movement to rebuild the monetary system from the ground up; and this will empower individuals, strengthen national economies, and accelerate human progress. Armstrong’s call to action is clear: the world needs crypto now more than ever.
