In a new interview with CNBC’s Crypto World, Coinbase CEO Brian Armstrong told host Kate Rooney that he believes Big Tech companies like BlackRock and Meta will both be involved in the next phase of the Internet offering cryptocurrencies.
“We want every company in the world to integrate into cryptocurrencies. We also want every company to have an internet presence or use the internet in some way. Even if they are not an internet company, they can have a homepage that has new customers through the internet or accepts payments.
Crypto is the same. I think Big Tech will have a role there. We see companies like BlackRock now integrating with Coinbase. Meta is another great example.
That showed me that we can actually win, not just the retail customer segment but also win deals with the biggest companies in the world. That’s really good for our future. “
When it comes to the crypto winter that has plagued the industry since the end of last year, the tech entrepreneur expects to see a change sometime before mid-2023.
“Obviously we’re in a downward cycle, but that’s not unusual for us. We’ve gone through four cycles like this as a company that’s only 10 years old.
This just happens to coincide with the overall macro environment going down. We’re all hoping that in 12 or 18 months there will be a good recovery, but obviously this is even more time-consuming.”
Armstrong added that Coinbase remains focused on long-term goals rather than movements on the price chart.
I think one of the reasons Coinbase has been so successful over the past 10 years is that we try not to focus on short-term ups and downs. We just have to zoom out and think about, 5, 10 years from now, will more people be using cryptocurrencies? can. Is the Internet more widely distributed? can. Will there be more e-commerce and more digital payments? ‘
The CEO also concluded that encouraging the expansion of staking is improving the cryptocurrency space, especially projects such as Ethereum (ETH), Polygon (MATIC), Optimism (OP), and Solana (SOL).