Brian Armstrong, CEO of US-based cryptocurrency exchange Coinbase, gave an interview to CNBC in Dubai during the day. Armstrong, who recently stated that the company’s headquarters could be moved from the United States to another country, made various criticisms to the SEC, but stepped back from his statements. Brian Armstrong stated that the company’s headquarters will not leave the United States and move to another country.
Coinbase CEO Backtracks
The bankruptcy or collapse of numerous crypto companies in recent years, notably the TerraUSD collapse and the FTX bankruptcy, has led to increased regulatory pressure on the crypto ecosystem. Many financial regulators, especially the US Securities and Exchange Commission (SEC), have filed lawsuits against a number of crypto companies, including Binance.
Coinbase, the largest cryptocurrency exchange operating in the US in terms of trading volume, has also been one of the crypto companies on the SEC’s radar. The SEC sent Coinbase a Wells notice earlier this year. Coinbase CEO Biran Armstrong made various statements during this process, saying that they could move the company’s headquarters from the US to another country, but he stepped back from this statement.
Coinbase Will Not Withdraw from the US
Biran Armstrong, CEO of US-based cryptocurrency exchange Coinbase, gave an interview to CNBC in Dubai during the day. Biran Armstrong criticized the SEC and SEC Chairman Garry Gensler, suggesting that Gensler has adopted an anti-crypto view and that this has not benefited the crypto industry in the US.
Coinbase CEO Biran Armstrong explained that although he criticized the SEC by emphasizing regulatory uncertainty, Coinbase will not move the company’s headquarters to another country because they think Coinbase can benefit the crypto industry and the US.
Brian Armstrong also touched on the company’s international investments in the interview and stated that Coinbase wants to increase its international investments and contribute to the crypto ecosystem by expanding its services in more countries.
