Coinbase CEO Armstrong Calls for Crypto Revolution Amid $36 Trillion US Debt

Coinbase CEO Brian Armstrong has highlighted three key reasons why the world needs cryptocurrency, emphasizing the urgent need for a financial system overhaul in the face of growing economic challenges. Armstrong points out that the world is grappling with soaring debt, stubborn inflation, and declining trust in financial institutions. He notes that the U.S. federal debt has recently surpassed $36 trillion, and the corrosive effects of inflation on purchasing power and living standards have led to a decline in economic freedom and a growing sense of distrust among global citizens.

Armstrong argues that the current financial system is plagued by major problems that are worsening. He cites the astronomical level of U.S. federal debt and the corrosive effects of inflation on purchasing power and living standards as evidence of these issues. These factors, he argues, have led to a decline in economic freedom and a growing sense of distrust among global citizens. Armstrong points out that it is no coincidence that Bitcoin prices are at all-time highs, as people are turning to Bitcoin as a refuge from inflation and deficit spending.

Armstrong views crypto, and specifically Bitcoin, as a vehicle for individuals to regain control over their finances, bypass centralized institutions, and access fast, low-cost global payments. He emphasizes that crypto’s true potential lies in its ability to revolutionize everything from settlement times and cross-border remittances to new models for artists and creators to monetize their work without sacrificing margins to intermediaries. By viewing crypto as a foundational technology rather than just a speculative asset, Armstrong believes society can unlock new levels of innovation and economic participation.

Under Armstrong’s leadership, Coinbase has evolved from a simple crypto investment platform into a comprehensive financial services provider. The company now aims to serve as an application layer for the next generation of internet tools. Recent announcements, such as payment APIs for seamless USDC settlements and a new Coinbase card with Bitcoin rewards, highlight the company’s commitment to making crypto more accessible and useful in everyday life. Armstrong’s call to action is clear: the world needs crypto now more than ever, as it is not just a financial trend but a movement to rebuild the financial system from the ground up. This will empower individuals, strengthen national economies, and accelerate human progress.