Exchange News

Coinbase CEO reveals ‘weird moonshot stuff’ the exchange may consider in five years

Brian Armstrong, Coinbase CEO, has indicated one thing that the exchange, although weird, may consider doing in five years.

While participating in a question and answer session, Armstrong was asked to name one “weird moonshot stuff” that the exchange may consider doing in the next five years. And the answer is as weird as the question. According to the CEO, the weird thing would be “honestly like [to] overthrow some corrupt dictators in the world.”

According to CCN, another thing, this time not weird, is:

Like with GiveCrypto. We want to give 100,000 people in Venezuela a little bit of crypto like in the next, you know, roughly 12 months. And so, I want to see if we can spark a bunch of uses there and actually have a country in the world tip. In other words, like 50 percent or more of all transactions in the economy are happening in crypto. Like, that would be amazing.

However, Coinbase CEO first choice of ‘weird’ stuff was actually weird in the sense that although the exchange may consider overthrowing corrupt dictators, its recent action shows otherwise.

In February this year, Coinbase bought a blockchain analysis firm, Neutrino, whose founders were in the past involved with a company that worked with corrupt dictators across the globe.

It was after the acquisition that the past of some Neutrino’s top team members came haunting, Arjun Balaji, a twitter user, commented:

Congrats to Coinbase on the acquisition of chain analysis startup Neutrino. FYI, the CEO, Giancarlo Russo, was the ex-COO of Hacking Team who sold ‘offensive intrusion surveillance capabilities to governments, law enforcement agencies, and corporations.’

Coinbase users’ dissatisfaction caused the Coinbase CEO to later announce that the individuals involved with Hacking Team will transition out of Neutrino.

With the exchange working with regulators and governments, do you think the Coinbase CEO was really serious in overthrowing corrupt dictators?

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Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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