The chief executive of top US-based crypto exchange platform Coinbase says that traditional finance (TradFi) institutions are about to ramp up their crypto investments.
In a new thread on the social media platform X, Coinbase CEO Brian Armstrong – who just met with numerous world and business leaders at the World Economic Forum conference in Switzerland – says that the “floodgates are opening” for the digital assets industry as blue-chip investors express their intention to boost their crypto presence..
“Corporate leaders – banks, asset managers, payment services firms, etc – made clear that they are all accelerating investments in crypto. Crypto allocations are going to go up, as are their efforts to build on the blockchain. There are going to be more players and competition than ever in crypto and we welcome it all.
We need crypto to update the entire global financial system to bring these benefits to everyone.”
According to Armstrong, President Donald Trump’s pro-crypto stance – including the possibility of creating a national Bitcoin (BTC) and crypto reserve – has forced others to “up their game.” He also noted that Trump, crypto and artificial intelligence (AI) were the most discussed topics at the conference.
“President Trump is forcing everyone to up their game. Basically, every conversation I had with major market leaders was focused on what the Trump Admin planned to do on crypto – eg on a Strategic Bitcoin Reserve – and how they can avoid being left behind.
As the company best positioned to help governments create a Strategic Bitcoin Reserve (through our custody and trading services), these were valuable touch points.”
Last week, Trump signed an executive order to study the potential impact of establishing a national Bitcoin and crypto stockpile. Entitled “Strengthening American Leadership in Digital Financial Technology,” the order creates a new working group that will coordinate and propose a unified regulatory approach to crypto within six months.
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