Armstrong's Bullish Case for Crypto Adoption

Coinbase CEO Brian Armstrong believes that cryptocurrency doesn't receive enough credit for the financial access it's already unlocked for the world. Stablecoins, such as Tether (USDT) and USD Coin (USDC), have enabled anyone to access a low-inflation currency and send it anywhere in the world at any time.

Decentralized finance applications are also pulling unbanked individuals away from conventional banks by giving them access to credit. Tokenized stocks, like those on Robinhood Chain, have expanded the total addressable market for U.S. equities by allowing anyone with an internet connection to invest in U.S. companies.

The market's largest stablecoins are pegged to the U.S. dollar and can be deposited into third-party lending markets to earn higher yields than traditional dollar-based savings accounts. However, some of these platforms come with significant risk compared to FDIC-backed banking accounts.