1 Billion Cryptocurrency Users in a Decade, Predicts Coinbase CEO
According to Coinbases’s CEO Brian Armstrong, crypto users could increase by five times in the next 10-20 years.
In the next 10–20 years, according to Brian Armstrong, CEO and co-founder of Coinbase, there will be a significant rise in the number of people working in the cryptocurrency industry. In fact, he thinks that reaching the one billion milestone is possible.
Coinbase CEO suggests optimistic outlook for crypto regulation
The report also referenced Armstrong’s upbeat assessment of the direction of regulation from lawmakers and policy advisers in the nation’s capital. Armstrong has pushed for a light regulatory touch when it comes to cryptocurrencies for many months. “It’s gotten harder and harder to meet a real crypto sceptic in D.C.,” Armstrong claimed. He was further reported in the newspaper as saying that more than half of Washington’s population has taken a pro-crypto stance.
However, it’s important to remember that Armstrong’s comments came before the Securities and Exchange Commission of the United States, which regulates the bond and equity markets, on Tuesday. According to the SEC, it intends to almost increase the number of employees in its enforcement division, to narrowly concentrate on monitoring crypto assets and trading platforms like Coinbase.
When the federal agencies entrusted with investigating and making recommendations on their separate regulatory remits, as part of President Biden’s executive order earlier this year, submit their findings, we’ll have to watch how that plays out.
Coinbase’s Recent Endeavors
Speaking of Brian Armstrong, it is important to note how his cryptocurrency exchange, Coinbase, has developed over the past several months.
The business declared in March that the NFT marketplace will be live “soon.” Despite withholding a specific release date, more than 2.5 million Coinbase users signed up for the waiting list.
Soon later, news emerged that the trading platform was close to buying 2TM, a cryptocurrency exchange in Brazil. The latter is under the authority of Mercado Bitcoin, the biggest digital asset brokerage in Latin America.
Coinbase announced plans to acquire BtcTurk, the country’s first cryptocurrency exchange, in April. The $5 billion deal was intended to be completed. However, as a result of the Turkish lira’s decline and the current collapse of bitcoin, the parties signed an agreement for $3.2 billion agreement.