The CEO of Coinbase Brian Armstrong has an optimistic take on the future of the crypto ecosystem anticipating an increase in the community from today’s 40 million to 1 billion over five years.
Armstrong believes that in the future companies that develop their own crypto will increase, and together with them the overall amount of tokens and crypto ecosystem will grow.
“It makes sense that any company out there who has a cap table should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens.”
The matter of whether cryptos will be recognized as securities is “a big open question,” according to Armstrong, however, he noted that Coinbase does “feel a substantial subset of these tokens will be securities.”
Currently, according to Armstrong, Coinbase could support hundreds of tokens within “years” and potentially “millions” in the future, which is a serious increase from the five that it hosts at the moment.
WHY IS THIS IMPORTANT?
- Brian Armstrong is a huge player in the crypto industry, and his opinions and views can resonate throughout the community influencing people's perception on crypto.
- Armstrong's positive take on the securities situation is backed up by Coinbase's actions, which is reassuring, the company has acquired Keystone Capital Corp., the securities dealer, along with Venovate Marketplace, Inc., and Digital Wealth LLC. This might set them up to provide crypto securities trading services in the future.