The famous cryptocurrency exchange Coinbase Global was built by Brian Armstrong. He is one of the prominent leaders who supported and contributed to developing the crypto industry. When he started his company, he saw a sudden surge in the crypto industry. He took the chance and built one of the most successful companies in the crypto industry.
This company was started in late 2013 in a small apartment in San Francisco. Adam Draper, one of the company’s earliest investors, said that the company first hired a customer support executive. This move shows that the company has always considered the customers’ experience and benefits.
He started expanding his company’s workforce. The brain also took his company into new and unrealized markets and enhanced the digital tokens present on the platform. This resulted in the birth of the biggest crypto exchange in America, known as Coinbase. As of 2021, the company’s market value was around $86 billion.
However, currently, cryptocurrency is going through a challenging phase. The crypto came down to $21 billion just this year. This has resulted in several issues for Coinbase. Brian Armstrong needs to handle high expenses and resource consumption with lowering profits. And now, one more thing has been added: the restriction of federal regulators. SEC has taken charges against Coinbase as well.
Right now, all cryptocurrencies are going through a challenging phase. Bitcoin has already gone down to 50% right now. Coinbase is also going through the same phase. As per the current situation, if the cryptocurrency sees upward movement and the prices increase, Coinbase can become one of the successful survivors with unique goals. This week the company stock of Coinbase went through a sharp increase. This shows the trust of investors in the company for upcoming years. However, if the SEC considers tokens as securities, Coinbase might get in big trouble.
