Coinbase CEO Brian Armstrong: Propelling the Crypto Economy

Dec 23, 2025

Brian Armstrong, Co-founder and CEO of Coinbase, shares insights on the evolution of one of the leading digital asset exchanges. He reveals his journey from early Bitcoin meetups to the vast array of products Coinbase now offers. Armstrong discusses the future of on-chain financial services and the integration of decentralized trading. He highlights exciting trends like tokenized stocks and automated payments using AI. Lastly, he emphasizes the importance of regulatory advocacy for fostering a thriving crypto economy.

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ANECDOTE

Reading The Bitcoin White Paper

Brian Armstrong read the Bitcoin white paper in 2010 and found the idea of a decentralized protocol for money captivating.
He re-read it, worried about cryptography and regulation, and saw services would be needed around the protocol.

ANECDOTE

YC Check Turned Prototype Into A Startup

Armstrong prototyped Coinbase nights and weekends while still at Airbnb and only quit after acceptance to Y Combinator.
Paul Graham's $150K check gave him the confidence to leave his job and pursue the startup.

ANECDOTE

Finding Product‑Market Fit Was Fragile

Early Coinbase struggled to raise its target but found product-market fit with a simple 'buy Bitcoin' button.
Co-founder Fred Eshaghian (Fred Urson) contributed financial services expertise that fixed critical operational losses.

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Coinbase is the leading digital asset exchange and platform. Brian Armstrong, co-founder and CEO of Coinbase, joins David Solomon, Chairman and CEO of Goldman Sachs, to discuss Coinbase's founding story, and the company's evolution into a multi-product, multi-revenue stream business. He also speaks about Coinbase's advocacy efforts to foster regulatory clarity for the crypto industry. This session was recorded at the Goldman Sachs Builders and Innovators Summit on October 16, 2025.

The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.

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