Coinbase CEO Says He’ll Fight the SEC for the Crypto Industry | WSJ
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- čas přidán 11. 07. 2024
- Coinbase CEO Brian Armstrong is entering a battle with regulators after the SEC sued his company Tuesday. The SEC alleges Coinbase broke the rules by listing crypto tokens subject to securities laws.
He sat down with The Wall Street Journal to discuss the situation, saying he hopes the lawsuit will bring more clarity to the industry.
0:00 Armstrong on if Coinbase is breaking the law
1:31 How Armstrong defines a security
2:39 Are all of Coinbase’s listings crypto commodities?
3:41 Did Coinbase rush its analysis for new crypto listings?
4:34 Armstrong’s relationship with the SEC chairman
5:03 Armstrong’s dream regulatory structure for crypto
#Coinbase #Crypto #WSJ
Is funny to see how Gary Gensler had plenty of time to meet Sam Bankman fried from FTX Scam and did not find any time to meet with the Coinbase CEO 😮😅😂
Gary Gensler is a Marxist and his allegiance is to WEF and the Monarch
You answer your own question. Politics. Lining pockets. Etc etc
If u want try to dig dipper into Sam and carolyne and Gary gensler
U will be surprised
Not sure how to take the interviewee, line of questioning seems to be loaded and lead on behalf of the SEC.
100% he out to grill.
let's face it, coinbase is listing penny stocks, yup, that's what shitcoins are, penny stocks. Probably even worse than that, since the companies issuing the tokens ain't doing anything productive.
God bless this guy, he is supporting the whole industry on his shoulders.
SEC: Coinbase is an unregulated securities exchange.
Also the SEC: We will let the Department of Justice sell its confiscated Bitcoin on Coinbase.
😂😂😂
It’s clear this journalist has chosen a side in this fight. Poor interviewing skill WSJ
I agree
quite impressive how coinbase's CEO keeps a cool head. the journalist was quite aggressive.
It’s because he’s bald
@@arham360 baha
No hair increases heat exchange.
@@MrTmenzo lol
He’s a little girl.
I wish the interviewer would have given Brian an opportunity to answer one question before he moved on to the next! Much better interview on CNBC yesterday.
Interviewee seemed charged. Brian had great composure and pragmatism
Honestly, I would have loved a longer interview without having the person being interviewed not interrupted
Interviewer was incredibly rude. Brian is smart and level headed.
The problem is that SEC knows exactly how much money Coinbase has to fight from. That's a dirty fight. And please, stop cutting him off.
Hope SEC wins and Brian Armstrong’s company bankrupts. Im making a vid exposing his illegal beginnings. It will be out soon
Not to worry! Abba can supply Brian with all the doe he needs to fight SEC. Does he want it?
Looks like the crypto gangsters are just interested in tightening the money supply to grand stand. While, in collusion with the feds, they have been suffocating Abba for 56 years.
Law is law. They can have as much money as they want. They broke the law and there are going to be consequences for their actions. They are criminals.
@@Dave-nq6uy what does the law say about securities? are you even familiar with the Howey TEST? read some more and don't act so ignorant over the internet.
An investment of money
In a common enterprise
With the expectation of profit
To be derived from the efforts of others3
What a professional Brian is! I’m glad he is the example we have to look up too !
🎯
WSJ interviewer seems to have an agenda. Doesn't want to hear the answers to his own questions. Poor reporting/interviewing by the WSJ. Brian Armstrong was composed and factual/common sense in his answers.
"you are breaking the law"
"but what is the law"
"don't concern yourself with it just know you are breaking it"
*That part!* 💯
Hahaha!
Imagine roads having different speed limits but no speed limit signs and nobody will tell you what they are and the cops just give you a ticket whenever you go above them after the fact. Tell me the speeding limits!! Naah you don't need to know that. Here's your speeding ticket
If your token had a premine, then it's a security.
Easy.
@sharpenedge that's not what the Howie test is though.
I don’t follow crypto but this guy doesn’t seem like he’s trying to hide anything.
Bitcoin is the only ethical token.
All of the others were created behind closed doors, distributed to insiders, and then released to the public in order to raise funds for development. That makes them securities.
Bitcoin stands alone.
I mean, Ripple has been fighting the SEC on the cryptocurrency markets behalf for 2 years and you didnt back or talk about them lol.
He did and he has. He was in his own soup too.
I highly doubt that. If that's the case, why delist xrp? Doesn't sound like any kind of backing to me.
@@mikhelBrown as the other comment said, is that why they delisted XRP? while other exchanges kept it
Clarity, clarity, clarity that’s all we want is too grow and move forward in a positive respectful way..
Here's clarity:
If your token had a premine, it's a security.
@@sharpenedge lol I think they need something from an actual authority that they can actually use to run a billion dollar business
@@technolus5742 It's pretty clear. Maxis have been warning about this for years. "We need clarity" is just crypto code for "Catch us if you can"
@@sharpenedge lol that's bs, lawyers were talking about need for extensive regulation after ftx and even writting papers on the that very subject...
@sharpenedge
Real
Armstrong is a hero of our industry ❤
Interviewer thinking hes firing gotchas while Brians blood runs cool at 69bpm
😂😂😂
You know just my opinion but the person asking the questions seems to me a little biased against coinbase CEO
I think Gary didn't meet with Brain because he is not his type. He liked Sam Bankman more. True love story.
Lost trust in the WSJ years ago. Watching this video confirms my instincts. 😊
Keep fighting the good fight Brian!!!
Gensler is not here to protect investors, he's here to protect the interests of big banks. And why Brian keeps getting cut on this video?
Well done!!! I stand with crypto against the SEC
Create a class action lawsuit against the SEC to compensate damages to crypto holders; with irresponsible and destructive as well as illegal practices.
Wall Street Journal is literally the definition of matrix
Way to go Brian!
This interviewer is doing a poor job of letting his bias and emotions show. He is clearly combative against his points.. Brian and Coinbase and crypto communities want (and have petitioned for) clarity regarding crypto assets as securities vs. commodities. If you say this is a security- then it's perfectly reasonable for someone (like Coinbase) to say "can you tell me how this is a security?" .. If your answer is " it just is trust me" then that isn't regulatory clarity- its tyranny
That's the F'n media for ya. 💯
I am so confused what is the difference between a commodity and a security. Also, are foreign currencies like the Pound Sterling and Euro considered in the US to be securities or commodities?
@@PritishPrabhu
If the token had a premine, then it's a security.
If you can't use the token because developers are in the middle of an update, then it's a security.
Everything but Bitcoin is a security.
@@PritishPrabhu see the Howey Test
World War Crypto, let's get it!
Not possible it is not what I’m thinking 💭 😂
Brian armstrong is right on. The SEC and the big global interest industry will lose. Blockchain tech will bring financial freedom and sovereignty.
The CEO was amazing and it is a historical shame for USA & their Officials what is happening. USA was a serious country in the past, now something is very wrong.
Go Brian A 👏👏👏
Brian is a man with poor judgement. SEC told him only bitcoin is not a security. He disregarded and now will go BK.
Brian said "Catch us if you can!"
He's getting caught.
Bitcoin only. Everything else is dependent on developers and had a premine for fundraising. That makes them securities.
@@sharpenedge The cope in 'crypto' is next level...
@@michael2275 man with poor judgement does not become ceo of a publicly listed multi billion dollar company
@@monkeybizzness7964 This is not about me. Cope harder.
If there is no clear rules before, shouldn't the rules only take effect _after_ they are made? Same for AI.
I could totally appreciate fighting on our behalf but at some point an olive branch needs to be extended on both ends. We need clarity as Brian mentioned but we also need assurance that the rules arent going to change to facilitate someones agenda down the road. Drop the lawsuit, resolve the complaints, and be the first crypto exchange to operate with complete legality and hopefully worry free.
Exchanges needs to exit the US including most of the cryptos, the rest of the world has rules in place ! Get out fast !!!
The only exchanges having this problem are security token trading exchanges. Bitcoin-only exchanges are fine, and they don't care.
If Coinbase has to delist a token such as MATIC does that mean that other assets on the polygon network will also be delisted?
Is it an interview or the interviewer's opinion?
Coinbase Ceo: we're proud to be fighting for the crypto industry.
Where the F**k were you when ripple was getting dragged for 2.5 years and counting. Ripple is the one that has been bringing the fight
Obvious what side WSJ are on. It ain’t Crypto
Coinbase deserves getting sued into oblivion for all the shitcoins they allow on their platform. Karma.
This is reminding me back of the early Microsoft days where the Government was sueing them. Unfortunately this is the problem when technology moves to fast, it becomes so advanced that law makers fear it due to them not understanding it.
This interviewer is rude. Brian is a wonderful leader for crypto. Coinbase will win against the SEC.
"Free money is as important as FREE EXPRESSION!" - Robert F. Kennedy!
Why doesn't coinbase get a broker license?
They tried several times but are not able too because the law around crypto doesn’t truly exist. Robinhood tried also. That’s the shady part about it.
Everyone has a negative response to what Mr. CEO is saying… listen to him… listen all he is trying to get is clarity in all this… not saying he right or wrong/ let’s listen& learn& go from there.. prayers up for coinbase🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾❤️❤️❤️❤️
im rooting for coinbase to win.
STOP IT … 0:45 To late XRP has already fought them and beat them 🎉 RELIST XRP 🎉🎉🎉
So basically, this is a play, the US is the stage and Gary Gensler is the bad guy.
This is why you never trust the lieutenant with the map and compass.
LOL 🤣 This made me cry and laugh at the same time. Memories of being a butter bar.
The interviewer just keeps cutting him off! Let him finish his sentence. I feel like this was more of an ambush than an interview.
SEC doesn’t know what a Security is.
Interviewee’s tone and language seems quite biased. Nothing surprising since it’s from WSJ
WSJ pushing Gensler and Banking rhetoric ... SEC is the one with aggressive relation towards crypto and coinbase+
Gary Gensler couldn't even answer if Etherium is a security or not, so how can he expect anyone else to know.
Brian should run for president !
Is his exchange located in the US ?
If yes he's screwed.
The big market makers are not going to loose their grip on the market.
You don't fight sec. You comply our you done.
We love u Brian. Coinbase is quite literally protecting the financial future of my Gen, GenZ, and keeping innovation in USA🇺🇸
I mean is there any other option ?
Guy has a chance to build a bridge with the SEC. Instead chooses to act stubborn and combative based on what HE believes is right vs what the law says is right.
Is constantly interrupting the interviewee the new norm for journalism??
Gensler is an embarrassment for the US and SEC. Competing countries like Canada and those in the EU already put in place a clear book of regulations. Their crypto markets are thriving while crypto exhanges are leaving the US.
there is zero doubt that he and his other exchange buddies have been selling unregistered securities. they cant make enough money on btc alone. their only source of meaningful income is altcoins and most of these altcoins, in fact all of them, are securities. if there was an active lawsuit between SEC and XRP he should have stopped and thought was it ok for him to list all these altcoins essentially similar to XRP. he broke the law. he can get support of all CRYPTO BROS but that does not change the reality
You are not the smartest cookie, are you?
@@federicorusso4378 you don’t have to be smart to follow the rules. When Rules are made by lawmakers they make them simple enough so that the dumbest people can understand them. These exchange folks are too eager to become billionaires so they pretend that they didn’t understand the rules. It’s like contesting speeding ticket and telling judge that I did not see the speed limit sign.
That interviewer was Gary Ginslers son
The interviewer does not let him speak… 😢😮
Now, Brian, listen, it is time for you to contact Elon. If he could pull that off, we are all safe.
I know this is for future money and we still have a long way to move on with this, maybe 20/30 years
What about CZ & BINANCE.. ??
So when do we start protesting?
He needs to get with the Ripple legal team. Ripple's been fighting the SEC for 2 1/2 years now.
why fight if he can bribe them with his crypto coins?
Rooting for Armstrong!
CRYPTO DADDY WILL SAVE US ALL. BLESSSSS.
post the long interview unedited
SBF got multiple face 2 face meetings with Gary!
Eu have the Mica laws, UAe has crypto laws, Even China through Hong Kong now trades crypto but US- decides to kick out crypto(which can be a used as a means of exchange) to countries already looking to de-dollarise. Don't be the architect of your own downfall, US.
If people traded bankrupt companies with market caps comparing to that of Apple, I would sue the broker too. Good on SEC.
Seems like this administration just wakes up, and thinks how can I further mess up the market.
- You broke the rules rules rules
- F**k you I broke the rules, you are breaking the rules rules rules
Fight!!! Thanks Coinbase!!!
Both SBF and Alex Mashinsky said the same thing too..good lad!
Web3 Ignite IGNITE3 is the smartest token out there. It controls itself, no one else does. 🤖
This guy been fighting a Barber his whole life.
typical interviewer trying to put words in the other person's mouth.
Web3 Ignite IGNITE3 has a bright future ahead. Don't underestimate it! 💫
Whatever cryptos not listed on Coinbase are the ones everyone needs to invest in.
i smell BS... and everyone that is cheering for this are people that have money invested or money lost because all these meme coins are just rug pulls.
We the people support Coinbase and Binance, because crypto is for the people and goverment cannot control it!
the amount of crypto haters in this section is funny
Coin base has receipts. Met several times!
Yeah right he ain't done anything for the industry. Should have thought that 2 years ago when they burried their head in the sand.
the SEC has been a joke for decades
Hi Brian, you should fight and 🏆 you’re right.
He should that’s what we need RN
Hi Allen you look so familiar do you live the NJ.?
I'm celebrating a $30k stock portfolio today. I started this journey with 4k. have invested on time and also with the right team now I have time for my family and the life ahead of me
I'm glad I got into crypto when I did because it’s been a turning point for me financially, been my best decision so far.
Coinbase is gonna make Gary 🤡 look stupid!! #lfg
Bitcoin doesn't care.
All other tokens are at risk.
The SEC is going to win, and only Bitcoin will be left.
Proud to do it for the industry and America. LOL. Hey for a dollar they will tell any lie.
All crypto projects should ban together and collectively sue the SEC.
LOL
IF that could occur, it would make the SEC's case even stronger.
With Bitcoin, who would "ban together"? Bitcoin Core? That wouldn't make sense, which makes Bitcoin the only ethical token. All others are VC-backed, premined tokens (ie securities).
Bitcoin only.
@@sharpenedge SEC doesnt label BTC as a security tho...
The main purpose is money... SEC goes after projects that dont have 100's of millions to spend on court fees/lawyers to have 5 year fights with the SEC which has unlimited money.
Look at Ripple... Ripples probably going to win, guess what, they have deep pockets.
Now SEC is panicking so they're swinging for the fences... they can take on all the lower cap projects, but if they ban together, strength in numbers. That would NOT make the SEC's case stronger... the SEC would be fighting a larger, richer army.
Its illegal what Coinbase is doing and soon it will end
I side with Coinbase. Gary needs to be removed ASAP. Before he destroys America's Economic foothold.
Go Coinbase. Send the Khazar Gensler to the slammer
this is not an interview, learn manner stop interrupting!