Coinbase CEO: Wall Street feels threatened by crypto, our company is undervalued

Coinbase CEO Brian Armstrong said on X that many people still do not properly understand the company, and that despite its stock falling 36% over the past year, "we have never been in a stronger position than we are today." He noted that it is natural for some to misunderstand cryptocurrency and Coinbase. "As regulatory clarity improves, about 50% of large financial institutions are actively embracing crypto," Armstrong explained. "However, the other half is lagging and still resisting. I believe some of them are skeptical because their careers were built in the traditional financial system, and cryptocurrency is threatening to them. You don't ask a taxi company what it thinks of Uber." Armstrong added that all globally innovative technologies face similar resistance, citing Uber, Airbnb, self-driving cars, and artificial intelligence. "Cryptocurrency is directly disrupting Wall Street," he emphasized. He pointed out that Coinbase has achieved remarkable performance over the past three years and has diversified its revenue streams. Armstrong also highlighted that regulatory clarity has strengthened, and an increasing number of financial institutions, governments, and retail investors are entering the market. "There is no company better suited than Coinbase to make these changes a reality and capitalize on them," he asserted, concluding that the company remains undervalued.