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Coinbase is one of the largest cryptocurrency exchanges in the market, functioning in more than 65 nations globally. Brian Armstrong, the exchange’s chief executive officer and co-founder, always remains in the limelight due to his statements about the industry.
In a blog post published on March 19, Coinbase’s Co-Founder and CEO, Brian Armstrong, addresses the widespread skepticism about the utility of cryptocurrency.
Armstrong refutes the myth that crypto’s only purpose is speculation and unlawful behavior, claiming that over 50 million Americans and 400 million individuals worldwide have used crypto, with illicit activities accounting for less than 0.5% of transaction volume.
He argues that most crypto adopters are drawn to currencies for investment purposes. Brian used the United States government’s decision in the 1970s to sever the dollar’s link to gold, resulting in overspending, inflation, and other financial issues.
In the past few years, Coinbase and some subsidiaries donated millions to blockchain developers and security analysis firms to safeguard the ecosystem. Blockchain hype and modernization have transformed traditional finance.
Crypto Evolving As A Traditional Currency Alternative!
Post-COVID-19, a sudden boost in BTC usage and adoption was seen. Bitcoin remains the most prominent crypto used in the market.
The traditional financial system is accepting blockchain, if not bitcoin in many countries. Dozens of leading commercial banks and central banks have already opted to use blockchain.
However, there are claims that the features and concepts of cryptocurrencies will only partially replace traditional currency but will modernize to the verge. In 2023, many nations launched their central bank digital currency (CBDC), a blockchain-based currency.
Other News
Most recently, the Financial Conduct Authority (FCA) of the United Kingdom has announced that it is planning to introduce a market abuse regime for crypto assets in 2024.
The laws will apply to all, it will help the regulators and authorities tackle problems like manipulating the market, insider trading, and other possible illegal market activities.
As per a regulatory filing, Fidelity Investments has incorporated a staking feature into their application for an Ethereum (ETH) spot exchange-traded fund (ETF). Although there has been a lot of interest in the industry since the amendment was filed with the US SEC on March 18, observers and market experts have differing opinions.
Market Price Update
The market capitalization has recovered over 1.50% in the past 24 hours and was $2.43 Trillion when writing. Earlier this week, the market cap was above $2.55 Trillion; the decline in the cap was observed on March 18 evening.
Bitcoin, the market leader, is trading at $64,124 with an intraday growth of 1.46%; its market cap also grew over 1.40%. Pepe (PEPE) price surged 12.84%, which makes it the topper of the list, Starknet (STRK), KuCoin Token (KCS), and Optimism (OP) 10.47%.
Dogwifhat (WIF) price slipped 10.35% in the past 24 hours, which makes it the topper of the loser list, Avalanche (AVAX) at 7.52%, Solana (SOL) at 3.31%, Aptos (APT) at 2.49% and OKB(OKB) 2.27%.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
