Coinbase · Wall Street · Bitcoin · U.S. · CoinDesk
Coinbase does not fear competition from Wall Street, confirms exchange executive
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Coinbase is not at all concerned with the increasing competition from Wall Street giants or other traditional financial institutions, the crypto exchange’s head of Policy for Europe told CoinDesk on Friday.
Key facts
- On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two pizzas
- The company recently posted a loss of $1.49 per share, compared with analyst expectations for a $0.27 profit
- Harries’ words come as SWC stages 500 events across four continents and six markets, including the United States, United Kingdom, Canada, Australia, Brazil and the European Union
- A CoinDesk survey of 1,000 randomly selected U.S. voters across the country showed that 1% ranked crypto as their top concern
Summary
Coinbase says it is unconcerned by growing competition from traditional financial institutions, arguing that crypto’s grassroots community support cannot be replicated by Wall Street. Stand With Crypto, which Coinbase calls the world’s largest crypto-advocacy group, claims 3.7 million members who have contacted lawmakers more than 2.5 million times, even as a recent CoinDesk survey found only 1% of U.S. voters rank crypto as their top concern. Coinbase executives say the global Stand With Crypto events on Bitcoin Pizza Day underscore that “crypto voters” are a lasting political force and that governments must move quickly to adopt sensible, coordinated regulation.