Centralized Exchanges in an On-chain World

Brian Armstrong built Coinbase from when Bitcoin was $6 to a $100 billion public company -  surviving government attacks, multiple 90% market crashes, and 13 years of chaos.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place. Money Badgers Genesis NFT drops in Q4 — limited spots 👉 https://app.paradex.trade/wl/resilientrogueqv

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.

 https://sui.io/

🧩 Story makes IP and real-world data programmable, enforceable, and monetizable.

 https://www.story.foundation

★ Forza!, Coinsilium’s Gibraltar-based Bitcoin treasury arm. Coinsilium trades on AQUIS (COIN) and OTCQB (CINGF). https://www.coinsilium.com/

🔘 Mantle Network combines Ethereum-level security with low fees and fast transactions via its layer-2 tech. Stake ETH for mETH and join a transparent, community-governed ecosystem. https://www.mantle.xyz

___________

Follow Brian Armstrong

• Twitter: https://x.com/brian_armstrong

• Twitter: https://x.com/Coinbase

• Website: www.coinbase.com

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod  

Linkedin: https://www.linkedin.com/in/kevinfollonier/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

1:31 Please Subscribe

1:57 You Need Security?

3:45 Who Are You

5:21 More About Being An Introverted Kid

6:33 What Gave Brian The Chip On The Shoulder

11:38 Our Trusted Partners

12:31 How Much Of Your Mission Is Driven By Your Past

15:25 The Baldness Story

17:24 Turning Bald Into A Superpower

21:30 Brian's Thoughts On Solo Founders

25:26 How Did Your Co-Founder Leaving Make You Feel

29:24 Another Tough Moment In The History Of Coinbase 

33:00 Our Valued Sponsors

34:15 How Brian Got Fascinated By Bitcoin & Blockchain

37:02 How Long Did It Take To Go All In

44:16 The Role Of Privacy Creating More Economic Freedom

47:23 Coinbase Explained To Your Mom

52:05 Trying To Help But Running Into Unreasonable People

56:40 Lasting So Long Through Wall After Wall, How?

1:02:06 Big Things That Needed To Change Before Burnout

1:05:53 What Do The Audience Not Know About Being Brian

1:10:10 Gaining Self Irrational Beliefs

1:11:53 Something Brian Can’t Do

1:15:21 How Brian Felt On The IPO Day & The Day After

1:20:27 Do You Look Back At Many Milestones

1:21:56 When Is The Job Done For Brian

1:23:48 Having A Minimalist Lifestyle

1:33:09 The Role Of Centralized Exchanges

1:35:26 Endgame For Coinbase

1:36:00 Are You Happy

1:43:06 The Voice In Your Head Is Saying?

1:45:03 One Lesson To Takeaway

1:46:20 A Belief Brian Has That Most Don’t