Coinbase CEO Brian Armstrong has revealed that United States President Donald Trump is creating economic freedom through cryptocurrencies. According to Armstrong, the recent global interest that crypto has enjoyed from leaders is down to Trump’s initiative as a pro-crypto leader.
In a post made by Armstrong on January 24, he highlighted that all his discussions with leaders globally are centered around Trump’s plans regarding crypto, especially a strategic Bitcoin Reserve. “As the company best positioned to help governments create a Strategic Bitcoin Reserve, these were valuable touch points.” The CEO said, referring to his company, Coinbase, a custody and trading services provider that could assist the US government in implementing the digital asset stockpile.
Crypto and AI take center stage at WEF
According to Armstrong, the discussions at the WEF in Davos, Switzerland, centered around digital assets and artificial intelligence. He mentioned the commendable discussions among leaders who were interested in using crypto as a tool to promote global freedom.
“So many see what President Millei, President Bukele, and President Trump have done and understand that free markets are catalysts for prosperity. Socialism is on its way out. Economic freedom is in,” he added.
Armstrong also added that there is also a positive energy among firms and companies who are shifting towards crypto, noting an imminent rise in blockchain adoption. “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,” Armstrong added.
Coinbase continues its legal tussle with the SEC, BiT Global
Coinbase filed a petition to the Court of Appeals for the Third Circuit, asking the court to rule that the assets it trades are not subject to federal securities laws. The United States Securities and Exchange Commission (SEC) sued Coinbase in 2023 for acting as an unregistered securities exchange. The regulator classifies digital assets qualifies under US law, a move that could warrant Coinbase registering under the body.
Coinbase is also in another legal tussle with BiT Global because the exchange decided to delist Wrapped Bitcoin (wBTC). The company filed a petition in December, noting that the exchange’s action harmed the wBTC market. Coinbase announced in a post in November 2024 that it will delist the token in December. The exchange has since filed an appeal, asking the US District Court for the Northern District of California to dismiss the case.