Summary of Coinbase's AMA before listing: Stocks will not be listed on the exchange, DeFi upgrades will be introduced to enhance trading experience.

In addition to being a cryptocurrency unicorn, Coinbase has recently attracted attention for its upcoming IPO. As a result, CEO Brian Armstrong hosted an AMA on Reddit, where a summary was compiled.

Coinbase CEO Brian Armstrong and CFO Alesia Haas participated in an AMA, discussing topics such as the current hot trends of NFTs, DeFi, and even Bitcoin's anonymous creator, Satoshi Nakamoto. Armstrong stated:

I'm not sure if any other company has done an AMA during the IPO process, so this may be a first. I think it's a good way for retail investors to interact with management and have an open discussion.

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Will $COIN be listed on Coinbase?

Firstly, regarding the issue of listing and stocks, it was previously reported that its stock symbol would be COIN. Armstrong emphasized that "COIN" will not be listed on Coinbase, and the team is not involved in issues related to securities-type tokens or STO issuance.

However, Armstrong's statement contradicts the company's S-1 document (the prospectus for a U.S.-based company's initial public offering), which previously reported that Coinbase does not rule out the possibility of issuing coins in the future.

Furthermore, he also refuted the absurd rumors that Coinbase users would receive stock airdrops before listing and stated:

Regulatory issues prevent users from receiving any airdrops in the form of tokens or stocks.

Apologies for repeated shutdowns during major price surges

Since around January, when Bitcoin was still at the forty-thousand level, Coinbase has repeatedly experienced service interruptions during market surges. Of course, Binance has also faced similar situations, but at that time, analyst Willy Woo pointed out that Coinbase's malfunction was the main culprit for the market downturn.

In response, Armstrong explained that about three to four months ago, the exchange received approximately 25,000 customer inquiries per week, which surged to 100,000 within four weeks. There have been improvements in customer service:

The number of customer service personnel we recruited this year has exceeded the overall scale before 2021. Imagine the time it takes from hiring new staff, training, to efficiently assisting users, so you may see some chatbot situations, but we never want to hinder users from contacting customer service.

Introducing DeFi protocols and entering the NFT field

When asked about the threats posed by emerging decentralized exchanges like Uniswap, Armstrong did not rule out the introduction of DEX and stated that they will introduce DEX to enhance users' seamless trading experience:

It's like early Amazon, where founder Jeff Bezos once thought, "Why not let third-party sellers list products?" People thought he was crazy, but he understood that he needed to create value for users.

Paying homage to Satoshi Nakamoto

Next up is the current hot topic of NFTs. Armstrong emphasized their user-centric policy, claiming that the Coinbase wallet can already store NFT assets and does not rule out introducing specific NFT-related features on Coinbase in the future.

Regarding the deliberate act of sending a copy of the SEC document to the anonymous Bitcoin inventor Satoshi Nakamoto, Armstrong simply said:

It's just a gesture of respect. Whoever he, she, or they are, they helped create the entire industry.