Brian Armstrong: Friend or Foe?
After everything that’s happened over the past few weeks with Sam Bankman-Fried, some eyes have turned to Coinbase CEO Brian Armstrong on what he’s doing to protect users.
Coinbase is well-known as one of the top crypto exchanges, and it may be unanimous within the US now after FTX’s collapse.
So, Brian Armstrong will have to reassure users that their funds are secure, transferable and readily available in a moment’s notice.
He seems aware of this with some recent tweets indicating that Brian Armstrong might truly be anti-establishment.
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.
— Brian Armstrong (@brian_armstrong) November 16, 2022
His tweet about the New York Times’ fluff piece on Sam Bankman-Fried is spot on. Brian Armstrong claims that the masses are waking up. As a result, it implies that people are turning away from the pseudo journalists employed by one of America’s largest newspaper conglomerates.
Brian Armstrong has also recently called out Senator Elizabeth Warren for her wish to have more control over decentralized finance. This will likely anger the ruling class elites, but it seems that he makes a good point.
https://t.co/0HxlRiI6Sy 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.
— Brian Armstrong (@brian_armstrong) November 10, 2022
Is Brian Armstrong a Friend or Foe?
Armstrong is standing up for what crypto should be: decentralized finance, that can benefit each user without asserting authoritarian control.
Coinbase ($COIN) took a plunge in the stock market this year, dropping 77% percent year-to-date (Nov. 16). Institutional investors, aside from Cathie Wood, likely won’t pile back in to the Crypto exchange with Armstrong’s latest rhetoric.
Similarly, reminds me of how Tesla stock ($TSLA) gets punished for whenever Elon speaks his mind and goes against the mainstream narrative.
But, who will win in the short term? The mainstream media and Government officials with approval ratings lower than the share price of penny stocks.
And, who will win in the long term? Armstrong and Elon Musk. America is about visionary minds that change how the world works. Technology and inventions that change the modern world and benefit the average person. Not about corrupt politicians with no term limits that lack self awareness.
It feels like the ruling class is dying a slow death. So we must hang in there and be patient while the shift occurs.
Verdict: Brian Armstrong is a friend.
