Coinbase CEO Brian Armstrong has issued an open call for all “legitimate companies” to join the crypto industry, saying this is the key to scaling crypto into the backbone of the global financial system.
In a response to a post by The Why of FI (loganb.sui), Armstrong pushed back against concerns about increased competition in the market. While acknowledging Logan’s praise for Coinbase’s contributions to the industry’s survival and growth, Armstrong emphasized that broader participation will not weaken Coinbase but rather grow the entire sector exponentially.
“I appreciate the kind words, but I think you’re wrong on the market,” Armstrong replied. “I would much rather have every legitimate company now coming into crypto. This will 100x the TAM [total addressable market] as crypto becomes the backbone of the entire global financial system — from capital markets, to payments, to debt, etc.”
Armstrong stressed that Coinbase would continue to lead the industry by offering the most trusted and user-friendly products, built through years of exclusive focus on crypto.
“Coinbase will continue to lead as the primary financial account for anyone in crypto, with the most trusted and easiest-to-use products, and deep crypto expertise as it’s been our only focus since the beginning,” Armstrong said.
Logan B. Praises Coinbase’s Role in Shaping the Industry
The conversation started after Logan B posted a detailed thread recognizing Coinbase’s pivotal role over the past four years, particularly on the legal and policy front. Logan highlighted how Coinbase — unlike many other major players — maintained regulatory compliance, avoided scandals, and worked to build trust among institutions and the public.
Logan credited Coinbase with standing firm against the regulatory pressure from former SEC Chairman Gary Gensler’s administration. Rather than exploiting the “grey area” that existed after many competitors fell, Coinbase chose a harder path: lobbying in Washington, educating voters, and fighting for the industry’s future.
“Rather than exist and thrive in this precarious but comparatively uncompetitive last-man-standing grey area created by Gensler’s SEC,” Logan wrote, “they spearheaded a massive outreach effort to D.C., a massive education campaign to voters, and vigorously punched back at the consistently overreaching SEC.”
Logan also noted that while Coinbase’s efforts helped usher in a friendlier regulatory environment and are setting the stage for the industry’s next phase of growth, it will likely result in more competition for Coinbase itself.
He concluded by emphasizing how fortunate the industry is that it was Coinbase—led by Brian Armstrong—and not failed players like FTX’s Sam Bankman-Fried or Ripple’s executives, that represented crypto at a critical time.
“Regardless of your thoughts on CB, Base, content coins, UX, etc., thank your lucky stars it was Coinbase and Brian Armstrong, not FTX and SBF or the Ripple guys who were faced with this choice,” Logan wrote.
Armstrong’s comments reflect a broader philosophy: growing the entire ecosystem is more important than preserving any single company’s market share. With regulatory clarity improving and institutional players increasingly engaging with crypto, the industry is poised for significant expansion.
Coinbase, which has weathered major regulatory storms and emerged stronger, now appears ready to embrace a much more competitive, but also much larger, global crypto economy.
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