The CEO of US-based crypto exchange Coinbase said Traditional Financial Institutions (TRADFI) are poised to expand their crypto investments.
In a new thread on social media platform X, Coinbase CEO Brian Armstrong, who just met many global and business leaders at the World Economic Forum Conference in Switzerland – said that the “floods are opening” for the digital assets industry as blue-chip investors express their intentions to strengthen their crypto presence.
“Business leaders – banks, asset managers, payment services companies, etc. – have made it clear that they are accelerating all crypto investments. Crypto allocations will increase, as will their efforts to build on blockchain. There will be more players and competition than ever in Crypto and we are looking forward to everything.
We need crypto to update the entire global financial system to bring these benefits to everyone. »
According to Armstrong, President Donald Trump’s pro-Crypto stance – including the possibility of creating a national Bitcoin (BTC) and crypto reserve – has forced others to “up their game.” He also noted that Trump, crypto and artificial intelligence (AI) were the most discussed topics at the conference.
“President Trump is forcing everyone to raise their game. Basically every conversation I’ve had with key market leaders has been focused on what the Trump admin plans to do on crypto – for example on a strategic reserve of Bitcoin – and how they can avoid being left behind.
While the company was best positioned to help governments create a strategic bitcoin reserve (through our custody and trading services), these are valuable touchpoints. »
Last week, Trump signed an executive order to study the potential impact of establishing a national bitcoin and crypto stockpile. Titled “Strengthening U.S. Leadership in Digital Financial Technology,” the order creates a new task force that will coordinate and deliver a unified regulatory approach to crypto within six months.
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