Coinbase CEO Slams Crypto Projects Shifting Focus from Blockchain to AI

Coinbase CEO Brian Armstrong has expressed criticism towards crypto projects that are shifting their focus from blockchain to AI. In a recent tweet, he stated that this trend is based on 'zero-sum thinking' and that blockchain technology is a general-purpose infrastructure similar to electricity or the internet.

Armstrong believes that distributed ledger technology will be the foundation for future products, especially with the rise of autonomous AI agents. These agents will increasingly conduct daily transactions, trade, act as advisors, raise funds for new projects, and handle tasks like tax planning and bill payments.

The traditional financial system won't suffice for these agents, which require programmable real-time funds, i.e., cryptocurrencies. Coinbase is actively developing agent-based finance (AiFi) using the x402 protocol, the Base blockchain, and Circle's USDC stablecoin.