Coinbase CEO Sees Crypto Market Approaching Bull Run

Coinbase CEO Brian Armstrong believes that the crypto market is approaching another bull run for spot trading. Speaking to CNBC, Armstrong said that the current bear market has lasted around a year and is nearing the typical duration of such downturns.

Armstrong pointed to Bitcoin's recent rally above $72,000 as one of the signs that the market could be turning around. He also mentioned the upcoming Senate vote on the CLARITY Act, which he expects to pass with more than 60 votes on September 15.

The CEO emphasized that Coinbase is no longer reliant solely on Bitcoin trading, as about 12% of its revenue now comes from spot trading. The company has been expanding into other areas such as crypto derivatives, prediction markets, and stablecoin payments.

Armstrong expressed optimism about the potential impact of the CLARITY Act, stating that it could provide clearer rules for digital assets and protect Americans who own them. However, he acknowledged that ethics questions surrounding President Trump's involvement in crypto remain unresolved.