Coinbase CEO Interview: Looking forward to party rotation, calling for the removal of SEC Chairman Gensler

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Coinbase Focuses on L2 and Flatcoin

Coinbase CEO Brian Armstrong revealed the company's future plans, emphasizing that Coinbase is focusing on L2 second-layer solutions and a concept called "Flatcoin," a new type of stablecoin. In an interview with Yahoo Finance's Executive Editor Brian Sozzi, Armstrong mentioned that although Flatcoin is not currently in Coinbase's development roadmap, the company is showing strong interest in it.

What is Flatcoin?: Coinbase CEO Shares Ten Blockchain Application Trends

Coinbase Anticipates Party Rotation, Removal of SEC Chairman Gensler

One of the major challenges facing the cryptocurrency industry is the lack of "regulatory clarity." Armstrong pointed out that to address this issue, the industry can seek regulatory clarity through various avenues such as the courts, Congress, and the Commodity Futures Trading Commission (CFTC).

He also mentioned that a new SEC chairman may emerge in 2024, emphasizing that if the Republicans defeat President Biden in 2024, Gary Gensler will no longer serve as the SEC chairman, which would "definitely be helpful" for the entire industry.

Hot Topic in the 2024 US Presidential Election: Cryptocurrency?

Armstrong believes that cryptocurrency may become a "hot topic" in the 2024 US presidential election, prompting candidates to state their positions on the issue. He stated that there will be questions about cryptocurrency and expects candidates to be closely scrutinized to ensure their positions are clear.

Coinbase's Development and Challenges

During the interview, Armstrong mentioned that Coinbase is continuously evolving and has launched L2 – Base to help promote blockchain adoption. Additionally, the company has increased its investments in derivative platforms. While Armstrong did not disclose specific details, he stated that Coinbase will continue to make efforts in various aspects.

Institutions to Enter the Market When It's Bearish

Armstrong noted that trading volume in the cryptocurrency market has declined over a period of time, which is not surprising. He explained that as prices rise, particularly the interest of retail investors will increase. However, he also emphasized that when the market is bearish, institutional investors start entering the market and wait for the right opportunities.

Clarity in US Regulations

Armstrong pointed out that regulations have started to be implemented globally and mentioned that some countries and regions have been very forward-thinking in developing cryptocurrency regulations. He stated that the US may achieve regulatory clarity through various means such as the courts, Congress, CFTC, or electing a different SEC chairman in the 2024 elections.

Coinbase's Role in the Cryptocurrency Industry

Armstrong emphasized that as the CEO of Coinbase, he not only serves as an entrepreneur but also plays a role as an educational resource in the government and other institutions, gathering the cryptocurrency community to ensure their voices are heard. He mentioned the significant influence of cryptocurrency voters and predicted that the 2024 elections will become a hot topic for cryptocurrency issues.

Additional Note: Coinbase CEO Brian Armstrong is set to visit Taiwan