Crypto and AI: Not Mutually Exclusive, Says Coinbase CEO

Coinbase CEO Brian Armstrong has pushed back against advice for crypto firms to 'pivot to AI,' calling it 'zero sum, scarcity thinking.' He argues that crypto is a general-purpose technology like electricity or the internet, and that AI megatrends don't detract from crypto but make it more important.

Armstrong's case rests on AI agents needing 'real time programmable money' to transact. Unlike humans, these agents can't open bank accounts or wait for wire transfers, so they'll require cryptocurrency to hold funds and pay for things on their own.

Coinbase is leaning into this emerging category with its contributions to the x402 protocol and its Base blockchain. The USDC stablecoin already powers 'the vast majority' of agentic payments, according to Armstrong.

The pitch arrives after Coinbase cut 14% of its staff earlier this year in a restructuring effort to rebuild the company as 'AI-native.'