Coinbase CEO: Cryptoeconomy Is Going To Represent Probably ‘15% or So of Global GDP’ - Aliens: AI Crypto News & Markets Updates
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Coinbase CEO: Cryptoeconomy Is Going To Represent Probably ‘15% or So of Global GDP’

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CryptoGlobe

Sat, May 14, 2022

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Aliens TLDR

Earlier this week, Brain Armstrong, Co-Founder and CEO of Coinbase, commented on the crypto market, NFTs, and layer 2 scaling solutions.

Crypto Market “So before we dive into our results this quarter, I think it’s worth just addressing the elephant in the room, which is that, of course, the broader markets are down.

“54% of our active users now are doing something other than just trading crypto.

And that’s exactly what we’re going to be doing in this environment...“ NFTs “But I can just say that there’s a lot to build and the opportunity in the NFT space is enormous, so there’s a lot of features we’re plenty to add – the ability for people to do NFT drops, mint their own NFT tokens, there’s token-gated communities we want to support, and even the option to buy NFTs just directly with your credit card or any funds that you currently have in your main Coinbase account, which isn’t possible today in the app.

I think NFTs are going to play a big role in gaming, in music, in the metaverse, decentralized identity, and even in the real world, items like tickets to events, proof of attendance, and maybe even digitizing real estate in the real world...“ Crypto Economy “...

– 54% of our active users are now doing something other than trading with crypto.

They’re earning money with crypto, they’re spending it with merchants using Coinbase Card.

And so Coinbase can help create that vision and make it a reality in the world.“ Layer 2 Scaling Solutions “So, Lightning Network – for those who don’t know, Lightning Network is a layer two solution for Bitcoin which lowest fees and improves payment capabilities.

And just broadly, I’d say we’re seeing a lot of interest from customers in layer two solutions.

So we’re working really hard to integrate every layer two solution out there that our customers want.

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