{"id":12122,"date":"2025-02-09T11:01:48","date_gmt":"2025-02-09T11:01:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12122"},"modified":"2025-02-09T11:01:48","modified_gmt":"2025-02-09T11:01:48","slug":"with-420-billion-under-management-coinbase-matches-major-us-banks-ceo","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12122","title":{"rendered":"With $420 Billion Under Management, Coinbase Matches Major US Banks\u2014CEO"},"content":{"rendered":"
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A well-known cryptocurrency exchange might have become one of the largest \u201cbanks\u201d in the United States if the crypto platform is classified as a financial institution.\u00a0This is an intriguing thought brought up by its top executive. Coinbase<\/a> CEO Brian Armstrong made a fascinating assumption about the cryptocurrency exchange\u2019s potential rank if it is considered as a bank, saying that Coinbase would be the 21st largest American bank in terms of total assets.<\/p>\n

Among The Largest Banks<\/strong><\/h2>\n

Armstrong tickled the minds of his X account followers after claiming that Coinbase would easily be one of the major banks<\/a> in the country if it was categorized as such because of its assets.<\/p>\n

The Coinbase executive made the statement in light of the cryptocurrency<\/a> firm\u2019s impressive financial growth, which has resulted in an estimated asset value of $420 billion.<\/p>\n

\n

If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.<\/p>\n

If you think of us more like a brokerage, we\u2019d be the 8th largest brokerage today by AUM.<\/p>\n

If you think of us\u2026<\/p>\n

\u2014 Brian Armstrong (@brian_armstrong) February 7, 2025<\/a><\/p>\n<\/blockquote>\n

\u201cIf you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing,\u201d Armstrong said in a post.<\/p>\n

On the other hand, the crypto executive believed that if Coinbase would be seen as a brokerage, the cryptocurrency exchange would be definitely among the 10 largest<\/a> in the country.<\/p>\n

\u201cIf you think of us more like a brokerage, we\u2019d be the 8th largest brokerage today by AUM,\u201d the Coinbase CEO said, a post that aroused the thoughts of his followers.<\/p>\n

<\/p>\n

Coinbase And The Payment Sector<\/strong><\/h2>\n

Meanwhile, Armstrong admitted that if the crypto exchange was ranked in the payment sector, he would be clueless about Coinbase\u2019s position in the industry, saying, \u201cIf you think of us like a payments company\u2026TBH I\u2019m not sure where we rank on that list.\u201d<\/p>\n

The crypto executive said that he cannot pinpoint Coinbase\u2019s place in the ranking because \u201cthere are various ways to measure it.\u201d However, he pointed out the huge volume of stablecoin payments that the crypto platform was able to process last year.<\/p>\n

\u201cThere were about $30T in total stablecoin payments last year (not all of those were goods and services though),\u201d he said in a post.<\/p>\n

Blurring The Lines<\/strong><\/p>\n

Armstrong explained that he raised these thought-provoking statements to emphasize that the delineation between these categories is no longer that clear, saying that \u201cwith crypto, the line between these categories is blurring.\u201d<\/p>\n

\u201cThere are many legacy reasons these are separate in the traditional financial system \u2013 and not all of them are good reasons. Why does the money you spend lose value instead of growing in value like an investment? Why does your checking account not earn yield like a savings account (or better yet, like short term treasuries),\u201d the Coinbase executive said.<\/p>\n

He argued that investors turn to Coinbase not only to invest, but also to use the platform to spend, get a loan, and others.<\/p>\n

\u201cIn the updated financial system, you will have a single primary financial account which serves all these functions. A greater % of global GDP will run on more efficient crypto rails over time. We\u2019ll have sound money, lower friction transactions, and greater economic freedom for all,\u201d he concluded.<\/p>\n

Featured image from WIRED, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A well-known cryptocurrency exchange might have become one of the largest \u201cbanks\u201d in the United States if the crypto platform is classified as a financial institution.\u00a0This is an intriguing thought brought up by its top executive. Coinbase CEO Brian Armstrong made a fascinating assumption about the cryptocurrency exchange\u2019s potential rank if it is considered as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12122","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12122"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12122\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}