![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Coinbase CEO Brian Armstrong Weighs in on Traditional Banks Launching Their Own Stablecoins
May 09, 2025 at 01:13 pm
During the first quarter earnings call, Armstrong was asked about the growing interest of traditional banks in the cryptocurrency industry after regulatory relaxations.
Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong on Thursday shared his thoughts on traditional banks launching their own stablecoins.
What Happened: During the first quarter earnings call, Armstrong was asked about the growing interest of traditional banks in the cryptocurrency industry following regulatory relaxations.
The top executive recognized the increased momentum, stating that Coinbase had engaged in talks and partnerships with some players.
"We've certainly seen some institutions come to us and say, 'Hey, we want to create our own dollar-pegged stablecoin.' And our view is that that's not necessarily the best path because we think stablecoins have network effects. You want interoperability with other financial institutions to be able to settle payments and do all kinds of things," Armstrong said.
Instead, he suggested that banks should consider partnering with existing stablecoins like USD Coin (USDC).
Note that Coinbase has an equity stake in Circle, the issuing company behind USDC. Also, USDC was launched by Centre, a consortium through a joint venture between Circle and Coinbase.
Top executives from Coinbase and Circle speak at the USDC launch in 2020
Credit: Coinbase
Barriers to TradFi’s entry into the space were lowered when directives preventing them from custodying cryptocurrencies were repealed after President Donald Trump took over. This move ultimately led to the creation of USDC.
This development follows Coinbase’s first-quarter earnings report, where the company missed revenue and EPS expectations. The report also highlighted a 66% decrease in trading volume from the previous quarter.
Before the earnings, Coinbase announced the acquisition of Deribit, a crypto options exchange, for approximately $2.9 billion, marking the firm’s largest push into the global crypto derivatives market.
See Also: Bitcoin Price Today: BTC Surpasses $100K, But Is It Really Above Key Level?
According to Benzinga Pro data, shares of Coinbase fell by 2.67% in after-hours trading, following a 5.06% increase during Tuesday’s regular trading session to reach $206.50. As of this writing, the stock ranked high on growth, a measure of a stock’s combined historical expansion in earnings and revenue across multiple periods. To check how other cryptocurrency-related stocks stack up against COIN, visit Benzinga Edge Stock Rankings.
Photo Courtesy: David Esser On Shutterstock.com
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
-
-
- Just hours before a key Federal Reserve decision, traditional markets freeze. Contrary to this, the crypto market comes alive.
- Jun 07, 2025 at 02:00 pm
- Contrary to this, the crypto market comes alive. While Wall Street holds its breath, bitcoin traders are increasing their long positions, betting on a favorable scenario.
-
- At least some of the top holders of Donald Trump's memecoin who apply to attend a private dinner with the president could be based outside the United States.
- Jun 07, 2025 at 01:55 pm
- According to a May 7 Bloomberg report based on an analysis of the top TRUMP tokenholders, 19 of the top 25 wallets on the leaderboard used foreign exchanges
-
-
- DLB Coin (Digital LinkBridge) Releases New Analysis on How Trading Platforms Can Adapt to Evolving Regulatory Priorities
- Jun 07, 2025 at 01:50 pm
- As regulatory priorities surrounding digital assets continue to evolve in the United States, DLB Coin (Digital LinkBridge), a global digital asset exchange, has issued a new analysis
-
-
- title: K-pop singer and White Lotus star Lisa is facing backlash over her Met Gala look, which featured underwear seemingly embroidered with Rosa Parks' face.
- Jun 07, 2025 at 01:45 pm
- On Monday (May 5), Blackpink's Lisa made her debut appearance at the 2025 Met Gala themed “Superfine: Tailoring Black Style.”