Coinbase Is a ‘Crypto Company’ According to the CEO
In a recently published blog post, Armstrong shared his company-wide email response to a recent question raised by an employee as to whether is Coinbase a tech company or a finance company.
In his response, Armstrong lays out his reasoning for the company fitting within both categories. For instance, Armstrong asserts that Coinbase has an engineering and product-led culture, but also boasts a significant compliance and legal teams that frequently interact with governments and regulators.
At the end of the day, Armstrong sees Coinbase fitting better as a technology company, given its focus towards “driving a ton of innovation and growth in the world today.” It is unclear why the Armstrong doesn’t believe the company falls under the commonly-used fintech classification.
However, Armstrong concludes his message by emphasizing his belief that Coinbase better fits within the new ‘crypto’ category over the more traditional tech or finance classifications.
Armstrong elaborated further in the post,
We’re not satisfied with the limitations of either technology or finance industries. We don’t want to move fast and break things — that doesn’t work when you’re handling people’s money. We also don’t want to become so conservative that more risk-tolerant organizations outrun us.
Whatever you call it, Coinbase has struggled with user activity through the bear market, with its trading volume reportedly dropping 83% since hitting all-time highs this past January.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.