Coinbase CEO Brian Armstrong Discusses “Flatcoins” and Future Ventures
In an interview, Coinbase CEO Brian Armstrong referred to “flatcoins” as the next evolution of stablecoins. The term was coined by former Coinbase CTO Balaji Srinivasan, who proposed that instead of pegging their value to a specific fiat currency, flatcoins would be backed by an on-chain basket of goods. Armstrong expressed interest in this concept, describing it as a superior form of money in the crypto space compared to existing cryptocurrencies and stablecoins.
Investing in New Crypto Ideas
Armstrong previously highlighted the idea of flatcoins in a post on X (formerly Twitter) where he shared the crypto ideas he was most excited about. In the interview, he stated that some of Coinbase’s venture investments may be directed towards these ideas mentioned in his post, including on-chain reputation, ads, capital formation, games, privacy for Layer 2 chains, and tokenizing real-world assets. Armstrong also mentioned the successful launch of Base and Coinbase Derivatives exchange as recent achievements for the company.
Hot Take
Coinbase CEO Brian Armstrong sees potential in “flatcoins” as a new form of stablecoin that could revolutionize the crypto space. By pegging their value to an on-chain basket of goods instead of a specific fiat currency, flatcoins offer a more reliable and inflation-resistant alternative. Armstrong’s interest in this concept reflects Coinbase’s commitment to exploring innovative crypto ideas and investing in promising ventures. As Coinbase continues to expand its offerings and support new projects, it aims to drive the adoption and advancement of the cryptocurrency industry.
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