Coinbase CEO on 3 Key Developments: 'Crypto Is Here to Stay'

In a recent tweet, Coinbase CEO Brian Armstrong outlined three key developments that reinforce his conviction that crypto is here to stay.

Armstrong names the three developments to be: First, the U.S. government has a strategic Bitcoin reserve; second, regulatory clarity for crypto is here, and third, the largest financial institutions and fintechs are integrating crypto. "So yes - crypto is here to stay," the Coinbase CEO quipped.

The Coinbase CEO's comments come as crypto continues to gain mainstream attention, with Coinbase gaining momentum subsequently.

In the week just concluded, Standard Chartered and Coinbase announced an expanded partnership on digital assets to explore the development of trading, prime services, custody, staking and lending solutions for institutional clients.

Wall Street is putting the blockchain to work in capital markets. In a recent move, J.P. Morgan announced that it had successfully arranged a U.S. Commercial Paper issuance for Galaxy Digital Holdings, an affiliate of Galaxy on Solana, bought by Coinbase and Franklin Templeton. The transaction is one of the earliest debt issuances ever executed on a public blockchain, and among the first in the U.S. to harness blockchain for the issuance and servicing of securities, marking a significant milestone for financial markets globally.

Armstrong at the recent New York Times Dealbook Summit had mentioned that some of the largest banks are working with Coinbase on pilots surrounding stablecoins, custody and trading, a major positivity for the crypto market.

Coinbase counts down to big December date

Coinbase is counting down to its big December date. Coinbase has announced a systems update scheduled for Dec. 17, with specific details about the event kept under wraps.

According to Bloomberg, Coinbase will go public with new products at a showcase Dec. 17, citing unnamed sources.

According to recent reports, which cited anonymous sources, Coinbase is gearing up to launch an in-house prediction market, powered by Kalsh, a move to expand the number of asset classes available on the cryptocurrency exchange at a time when some investors are shying away from digital assets.