Going live now to share all of our new product announcements from the first half of 2026. Tune in! nitter.app/i/broadcasts/1qKVmQdWB…

Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal. Feels like a turning point for citizen journalism and loss of trust in MSM.

Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we'll find Elizabeth Warren's fingerprints all over it (Biden himself was probably unaware). We're still collecting documents via FOIA requests, so hopefully the full story emerges of who was involved and whether they broke any laws. Warren and Gensler tried to unlawfully kill our entire industry, and it was a major factor in the Dems losing the election. The Democratic party should realize Warren is a liability and further distance themselves if they want to have any hope of rebuilding.

If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000. If you kept the $100 USD you'd only be able to purchase about $73 worth of goods today. Bitcoin is the best performing asset of the last 12 years, and it's still early days. Every government, especially those looking to create a hedge against inflation, should create a Bitcoin strategic reserve. Happy Bitcoin $100k day.

Regarding the SEC complaint against us today, we're proud to represent the industry in court to finally get some clarity around crypto rules. Remember: 1. The SEC reviewed our business and allowed us to become a public company in 2021. 2. There is no path to "come in and register" - we tried, repeatedly - so we don't list securities. We reject the vast majority of assets we review. 3. The SEC and CFTC have made conflicting statements, and don't even agree on what is a security and what is a commodity. 4. This is why the US congress is introducing new legislation to fix the situation, and the rest of the world is moving to put clear rules in place to support this technology. Instead of publishing a clear rule book, the SEC has taken a regulation by enforcement approach that is harming America. So if we need to avail ourselves of the courts to get clarity, so be it. Btw, in case it’s not obvious, the Coinbase suit is very different from others out there – the complaint filed against us is exclusively focused on what is or is not a security. And we are confident in our facts and the law. We'll get the job done. In the meantime, let's all keep moving forward and building as an industry. America will get this right in the end.

I got married this past weekend to my long term partner and best friend, Angela Meng! Can’t wait to build a life together.

1/ Some really sketchy behavior coming out of the SEC recently. Story time…

We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.

I don't care how messy your accounting is (or how rich you are) - you're definitely going to notice if you find an extra $8B to spend. Even the most gullible person should not believe Sam's claim that this was an accounting error.

FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore. Punishing US companies for this makes no sense.

This seems like the first election where new media has fully flipped traditional media. Long form podcasts, X/social, prediction markets etc deciding this election. Also holding traditional media accountable. Happened gradually then suddenly.

1/ There are a few key moments that define our future. One is happening now in the Senate w/ the infrastructure bill. At the 11th hour @MarkWarner has proposed an amendment that would decide which foundational technologies are OK and which are not in crypto. This is disastrous.

Coinbase is long bitcoin. Our holding increased by 2,772 BTC in Q3. And we keep buying more.

Great news! After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we're told to expect next week) this would be a full dismissal, with $0 in fines paid and zero changes to our business. This is hugely vindicating, especially because many people questioned my decision to engage in litigation with the SEC on this matter in 2023. People told me the courts would give a lot of leeway to the government. They said public market investors wouldn't like it. They said it would take years and cost us tens of millions of dollars in legal fees (which it did). They said the agency would use mafia tactics like trying to pressure other companies not to work with us while the lawsuit was underway (which they did). But I knew a few truths that helped make it an easy decision to fight them in court: 1. The SEC was wrong on the law. They were exceeding the authority given to them by congress by asking us to delist a number of assets that were not securities. We had taken a conservative approach to ensure we weren't listing any securities, and the SEC itself had allowed us to go public in 2021 after reviewing our listing standards in depth. We tried to “come in and register” but it turned out it was a fake offer, as every crypto company discovered. Regulators are supposed to enforce the law, but they can't make up new laws on the spot if they don't like the current ones, or weaponize a lack of clarity in the law. 2. Caving to their demands could have killed the crypto industry in America. The SEC made it clear to us that the only way to avoid litigation was to delist the many assets they falsely claimed were securities. It was a bullying tactic, pure and simple, driven by Gensler's own political agenda. And if we had caved, it would have dramatically limited the scope of which crypto assets were allowed in the US, and pushed the industry further offshore, into the shadows. Never forget how close a few activists in government came to unlawfully killing an entire industry in America! It could have easily gone the other way. Thank goodness the founding fathers created the judicial branch, as a check and balance on executive power. 3. It was the right thing to do for our customers and the industry. At the end of the day, it didn't matter what our chance of success was. I had to stand up for our customers’ and our industry’s rights. I also knew it would serve as a deterrent for future bad actors around the world we may have to engage with, for them to know that we won't be bullied or pressured. We are comfortable engaging in litigation across multiple fronts, indefinitely, while continuing to build. This is business as usual. As Bain in The Dark Knight says, "you merely adopted the dark; I was born in it". Growing up I had a naive view that regulators exist to hold companies accountable. What I realized in this ordeal is sometimes, companies must hold regulators accountable who are painting outside the bounds of the law, to preserve freedom. Accountability can actually happen both ways. At Coinbase, our mission is to increase economic freedom, and I initially thought we could achieve this solely through our crypto products. But I'm increasingly realizing that we can move the needle on economic freedom in the courts and through our policy efforts as well, when we see bad actors in government around the world. We plan to do more of this. I have to give credit here to the Trump administration, for winning the election, and for the departure of the activist head of the SEC, Gary Gensler, who orchestrated this unlawful action along with Elizabeth Warren, and a handful of their lackeys in congress. I feel confident we would have won this case in the courts either way, given our facts were so strong, but it certainly helped accelerate the process and drive accountability. I called out the sketchy behavior of the SEC back in 2021, and I believe this comment turned out to be prescient. I want to give a shout out to all the other crypto companies who fought back with their own lawsuits (we certainly were not the only ones). I want to give a shout out to all the crypto startups who couldn't afford the legal fees, and went bankrupt due to the administration's abusive tactics. Your company may have died, but crypto lives on. Don't stop building. I want to give a shout out to both Democrat and Republican members of congress, who are working hard to ensure America leads on crypto. I know that Gary Gensler and Elizabeth Warren do not represent the entire Democratic party. And I want to give a shout out to all the crypto holders in the US who elected pro-crypto candidates, on both sides of the aisle, to make sure your rights were preserved. It turns out the crypto voter is real, and showed up in the millions. Finally, I expect we'll continue working productively with the SEC on any number of items over the years, just as we do with every agency around the world where we operate. I look forward to the SEC being reformed under Paul Atkins, Mark Uyeda, Hester Peirce, and DOGE, and new more sensible personnel coming into leadership roles. I commend the new leadership that is already in place for working to right this wrong - it's a great step in the right direction, and took courage. Now let's get some crypto legislation passed in the US to finally clarify the rules, and really kick off this next phase of building.

9 years ago today, I founded Coinbase. One of the most important lessons I come back after all this time is long-term focus.

Elon buying twitter is a great win for free speech, and probably changes the trajectory of the world more than most people realize. Twitter is upstream of media and culture in many ways, and it was trending in a very dangerous direction on censorship.

Coinbase just became the first and only crypto company to join the S&P 500. This milestone represents what the true believers, from retail investors to institutional investors to our employees and partners, knew all along. Crypto is here to stay.

1/ Today is a big moment for @coinbase as we become a public company. But it’s also a big one for crypto. This all started with the Bitcoin whitepaper 12 years ago, a deceptively simple 9 page document by Satoshi Nakamoto that ignited a global movement. bitcoin.org/bitcoin.pdf

Historic day at the Whitehouse Digital Asset Summit. Thanks to @POTUS’s leadership, along with @DavidSacks, the U.S. now has a Strategic Bitcoin Reserve and emerging regulatory clarity. This is directly translating to economic growth in the U.S. For instance, Coinbase plans to hire about 1,000 employees in the U.S. this year as a result of this renewed growth. We’ll continue to build this industry in America to ensure the U.S. remains a leader in technology and finance.

We need to rethink our listing process at @coinbase given there are ~1m tokens a week being created now, and growing. High quality problem to have, but evaluating each one by one is no longer feasible. And regulators need to understand that applying for approval for each one is totally infeasible at this point as well (they can't do 1m a week). It needs to move from a an allow list to a block list, and utilize customer reviews/automated scans of onchain data etc to help customers sift through. That and we'll continue integrating native DEX support more deeply. Customers shouldn't need to know or care whether the trade is happening on a DEX or CEX.

1/ Today Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice typically precedes an enforcement action.

The Ripple case seems to be going better than expected. Meanwhile the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers). google.com/amp/s/www.forbes.…

Ethereum. Fun fact: I met @VitalikButerin in 2013 at the San Jose Bitcoin conference when he was writing for Bitcoin Magazine (his writing was great). A few months later I invited him to come by Coinbase's first office in San Francisco for a visit and he showed us some cool stuff on his laptop. Fred, Olaf, and I decided we should try to hire him, and reached out to see if he would be interested in joining us. But due to a series of circumstances, including him not being able to get a work visa in the U.S., it didn't work out and he had to go back to Canada. While he was stuck in Canada he created Ethereum. So, in a way, the sub-optimal immigration system in the U.S. contributed to the creation of Ethereum. Happy 10th birthday Ethereum!

If this is really some EA, decel, AI safety coup at OpenAI, the board just torched $80B of value, destroyed a shining star of American capitalism, and will be sued to high heaven by investors. Every talented employee at OpenAI should quit and join Sam/Greg's new thing (if they make one). This time, skip the woke non-profit board, eject the decels/EAs, maintain founder control, avoid nonsensical regulation, and just build. Accelerate progress. You are building something good for the world, don't let anyone make you feel guilty for it and try to capture it for their own motives.

Asset gains over the last 10 years: Gold: 201% S&P 500: 207% BTC: 49,000% ETH: 350,000% Happy financial awareness day.

1/ We're hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers. I hope that's not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen.

Coinbase's staking services are not securities. We will happily defend this in court if needed. coinbase.com/blog/coinbases-…

Welcome to the new members of America's most pro-crypto Congress ever... 219+ pro-crypto candidates and counting have now been elected to the House & Senate. Tonight the crypto voter has spoken decisively - across party lines and in key races across the country. Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it. Thank you to everyone who stood with crypto today. We did it! #StandWithCrypto

We will keep fighting for economic freedom (our mission at Coinbase). Some days being the most trusted brand in crypto means protecting our customers from government overreach.

If the electorate doesn't hold congress accountable to reducing the deficit, and start paying down the debt, Bitcoin is going to take over as reserve currency. I love Bitcoin, but a strong America is also super important for the world. We need to get our finances under control.

21/ Our door remains open. Hopefully the SEC steps up to create the clarity this industry deserves, without harming consumers and companies in the process. America could really use us all working together to figure this out right now.

Annoyingly true

Since the founding of Coinbase back in 2012 we have taken a long-term view. I knew we needed to embrace compliance to become a generational company that stood the test of time. We got the licenses, hired the compliance and legal teams, and made it clear our brand was about trust with our customers and following the rules. We wanted to increase transparency and raise the bar on trust, so we became a public company in 2021. This meant we couldn't always move as quickly as others. It's more difficult and expensive to take a compliant approach. You can't launch every product that customers want when it’s illegal. But it's the right approach because we believe in rule of law. Today's news reinforces that doing it the hard way was the right decision. We now have an opportunity to start a new chapter for this industry. We took a lot of arrows operating here in the U.S. due to the lack of regulatory clarity, and my hope is that today's news serves as a catalyst to finally achieve that. Americans should not have to go to offshore unregulated exchanges to benefit from this technology. This industry should be built right here in America, in a compliant way, under U.S. law. We're going to stay here in the U.S. because we believe in economic freedom and that the U.S. democratic system will eventually get this right. Decentralization and crypto is a powerful tool to update the financial system and build a global economy with more economic freedom. We're just getting started 🚀

If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing. If you think of us more like a brokerage, we'd be the 8th largest brokerage today by AUM. If you think of us like a payments company…TBH i'm not sure where we rank on that list. There are various ways to measure it, but there were about $30T in total stablecoin payments last year (not all of those were goods and services though). The point is, with crypto the line between these categories is blurring. There are many legacy reasons these are separate in the traditional financial system - and not all of them are good reasons. Why does the money you spend lose value instead of growing in value like an investment? Why does your checking account not earn yield like a savings account (or better yet, like short term treasuries)? Many people use Coinbase to invest, but also to spend, get a loan, etc. In the updated financial system, you will have a single primary financial account which serves all these functions. A greater % of global GDP will run on more efficient crypto rails over time. We'll have sound money, lower friction transactions, and greater economic freedom for all.

Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is: 1. Just Bitcoin would probably be the best option - simplest, and clear story as successor to gold 2. If folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased But probably option #1 is easiest

We weren't allowed to run this ad on TV in the UK, but that's fine, we can just share it online. We're using humor to make a very important point: the current financial system simply doesn't work for most people. It needs to be updated.

Someone should do a rigorous (Jim Collins, Good To Great, level) study on how @elonmusk gets so much done. Lots of theories on this, I suspect most of them incomplete or totally inaccurate. Important question for civilizational progress.

It's stolen customer money used in his hedge fund, plain and simple.

Met with the SEC today. We’ll continue pushing for a clear rule book in the U.S. for crypto regs. The U.S. can’t afford to fall behind on this important technology to update the financial system. Also important for regulators to set policy and THEN enforce it. Not start with enforcement before there are clear rules 🧐 At this point seems like congress will need to step in.

We've let all the law firms we work with know, that if they hire anyone who committed these bad deeds in the (soon to be) prior administration, we will no longer be a client of theirs. Senior partners at these law firms seem unaware of the crypto industry's position on this. For instance, Milbank recently messed up and hired Gurbir. We don't work with them now (and never will while he works there). It's an ethics violation in my book to try and unlawfully kill an industry while refusing to publish clear rules. If you were senior there, you cannot say you were just following orders. They had the option to leave the SEC and many good people did. It was not a normal SEC tenure. They can go work in other areas (I don't believe in permanently cancelling people), but we as an industry should not be putting money in their pocket after the abuse. Let your law firms know that hiring these folks means losing you as a client.

Excited to be partnering with @Samsung to make crypto even more accessible. We’re offering 75M+ Samsung Galaxy users in the U.S. free access to Coinbase One to bring them onboard. And we’ve fully integrated Samsung Pay, so every Coinbase user in the U.S. can use that to buy crypto.

1/ First off, I have a lot of sympathy for everyone involved in the current situation with FTX - it's stressful any time there is potential for customer loss.

This is what the new Coinbase One Card looks like. Very cool - each one is metal and engraved with the genesis block. It's also the first crypto credit card powered by American Express. With cashback paid in bitcoin, of course.

Case dismissed

Executive order on crypto has landed - bullish! (link to follow)

On memecoins… Memecoins have generated a lot of buzz recently, and I’ve gotten some questions on how I think about them. I am personally not a memecoin trader (beyond a few test trades), but they’ve become hugely popular. Arguably, they've been with us since the beginning – Dogecoin is still one of the most popular coins. Even Bitcoin is somewhat of a memecoin (one could argue so is the U.S. dollar, once it was disconnected from gold). Just like the early days of the internet with animated gifs, new technologies often look like a toy but evolve into something much more powerful over time. So we should be open minded about where memecoins are going, even if some are silly, offensive, or even fraudulent today. Memecoins are a canary in the coal mine that everything will be tokenized and brought onchain (every post, image, video, song, asset class, user identity, vote, artwork, stablecoin, contract etc). Coinbase differentiates itself by being the most trusted and easiest to use platform in crypto, so how are we approaching memecoins through this lens? From first-principles, we believe in free market capitalism. If our customers want it, and it's legal, we aim to let them make that choice for themselves. But it's our job to provide them with the best information we can find to make an informed choice. If a token is a scam or fraudulent, we'd want to remove it. But if it's just low quality, the customer should be able to see reviews or community notes, and make their own choice. (Defining what is an outright scam vs low quality is often a blurry line btw, so you need to be careful not to accidentally create a censorship regime.) We want to provide useful information to consumers, not play judge and jury or endorse/recommend investments. Some memecoins have clearly gone too far lately, to the extent people are insider trading. This is illegal, and people should understand that you will go to prison for this. In every crypto cycle, there is a get rich quick crowd that comes and goes, and learns this lesson the hard way. Don't break the law! And don't try to get rich quick. You should get rich by contributing real lasting value to society (or at least be trying - it's not easy!). So where do we go from here? We should purge the bad actors and lift up the people trying to build lasting value. We want to bring the next billion users onchain, and the only way to do this is to build products and services which people want. Help them earn a living, avoid high fees when sending money to friends and family, find truth about what's happening in the world, or get a loan to grow their business. Give them access to sound money and financial infrastructure, to accelerate progress in the world. Memecoins have a role to play here, and I think will evolve to help artists get paid, track trends, or who knows what - it's too early to say, but we should keep exploring. Keep building with this long term mindset, and make something people want.

Apps are now recovering. We had modeled a ~10x surge in traffic and load tested it. This exceeded that number. It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks. Thank you for bearing with us.

A white unmarked van pulled up to my house yesterday and dropped off a mysterious package. (I was out of town) My security team x-rayed it and it had a battery, wires, and cylinder inside. The Bomb Squad was called in to investigate. In the end they discovered it was a gift from the @theallinpod guys of their new tequila! A few thoughts: - Huge shout out to local law enforcement and the bomb squad for the rapid response, and keeping us safe. - Thank you to the besties for the awesome gift! (You can pick up your own bottle at their website) - I think I will be giving this bottle to my security team for keeping us safe every day.

We are dealing with a LARGE surge of traffic - apologies for any issues you encounter. The team is working to remediate.

Wow

. @DOGE is a once in a lifetime opportunity to increase economic freedom in the U.S. and cut the size of government back to health. The founding fathers were geniuses but (with humility) may have missed the adverse incentives which grow the size of democratic government over time (winning elections by promising more free stuff). To future proof this, we may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives (Buffet famously suggested an unbalanced budget makes all members of congress who vote for it ineligible for reelection). You’d ideally have a way to temporally dial up burn (say in war time), but still have the right incentives to not let spending get totally out of control longer term. An example would be a U.S. sovereign wealth fund, where every citizen gets a share (maybe people can buy more if they want), and any budget surplus pays a dividend. Every citizen then has skin in the game. Maybe congress gets a slightly larger stake. What are the best ideas out there to align incentives toward fiscal discipline long term?

It's really crazy that Apple will unilaterally block you from running the software you want on your own device. One of the most disrespectful parts of their culture, and it's damaging to their brand.

Coinbase is long bitcoin. Our holding increased by 2,509 BTC in Q2, and we keep buying more.

Spent the day in DC meeting with members of congress. We need regulatory clarity in the U.S. for the centralized players in crypto for many reasons - consumer protection, national security, economic growth, etc. The SEC has caused untold harm to America with its policy of regulation by enforcement. We will fight to fix that.

Surreal moment. President Trump just signed the first federal crypto bill into law, ushering in a new era for crypto, one that starts today for stablecoins. Market structure will be next and we’re committed to the White House’s September 30 deadline.

The interest rate for most checking accounts is 0% in Canada. That makes zero sense. So, from today, all Canadians can earn 4.1% uncapped rewards on USDC on Coinbase, and up to 4.5% with Coinbase One.🇨🇦

Our ad which got banned in the UK by the TV networks has sparked quite a reaction. If you can’t say it, then there must be a kernel of truth in it. Needing to update the system and improve society is not a political statement on either party in the UK (some have tried to turn it into this). And it’s not specific to the UK (we ran ads with similar themes in the US). It’s a statement about how the traditional financial system is not working for many people and how crypto represents a way to improve that. There are people in the UK who still think of crypto as some kind of gambling product (a very outdated view), and have completely missed the potential of crypto which is to update and improve the financial system for the benefit of everyone. We welcome the attacks and any other attempts to censor this message, as it just helps it spread.

Agreed - Massachusetts residents should vote for @JohnEDeaton1 Crypto holders in MA should realize @SenWarren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America. Luckily they did not succeed as we and others fought back. She is anti-freedom, thinks the government should run all financial services (similar to China), and has done enormous harm to this country.

Happy Bitcoin all time high! Another cycle, and once again the haters were wrong. As always, trade responsibly.

We got this fixed. Account recovery complete!

Europe and China were on a path to surpass the US economically but both embraced socialism, and destroyed their chances. Socialism never works. This experiment has been run many times. Yet it keeps getting tried - humans are drawn to it like a moth to a flame. Btw, the US was not immune to this either - we continue to have many socialist members of congress and policies. Just this week Karen Bass + Gavin Newsom announced soviet style price controls in the wake of the LA fires (a terrible idea). Kamala Harris proposed these as part of her campaign. The US was the least bad of the large economies, but still left probably half its growth potential on the table with socialist policies. This is a no brainer. Economic freedom (the opposite of socialism) leads to prosperity for all. In 2025, we'll need to work to get more socialist candidates out of office, to ensure and accelerate civilizational progress.

7/ Look….we're committed to following the law. Sometimes the law is unclear. So if the SEC wants to publish guidance, we are also happy to follow that (it's nice if you actually enforce it evenly across the industry equally btw).

One idea I’ve been contemplating is that Bitcoin may be the key to extending western civilization. The natural trend of whichever country has the reserve currency is to inflate the money supply and increase deficit spending until it loses that advantage. The U.S. is somewhere on this journey, which many have discussed including Dalio in The Changing World Order. The Yuan and Euro have their own issues and aren’t viable alternatives currently, so the assumption is the U.S. can continue to inflate, but what I think many haven’t considered is that people have an alternative now with crypto. They may start moving fiat into crypto, as an antidote to inflation. Contrary to what some may assume, I don’t think this be a threat to the dollar and the U.S., I think it will be a natural check and balance that will complement the dollar, and be the best defender of long term American interests (and western civilization more broadly). It’s better to move from dollars to crypto than to another country or region’s fiat. I also think both fiat and crypto will co-exist for a long time. They are more complements than substitutes. And dollar backed stable coins like USDC, or flat coins, will play a major role in unifying these worlds. Still thinking this through. What other good takes are there on this?

8/ But in this case they are refusing to offer any opinion in writing to the industry on what should be allowed and why, and instead are engaging in intimidation tactics behind closed doors. Whatever their theory is here, it feels like a reach/land grab vs other regulators.

20/ If we end up in court we may finally get the regulatory clarity the SEC refuses to provide. But regulation by litigation should be the last resort for the SEC, not the first.

Crypto is at its Blockbuster vs Netflix moment. Right now, businesses are going onchain and adopting crypto because they want to. They get it. Soon, the other businesses will be desperately trying to catch up. They'll go onchain because they need to. My advice: be early.

Happy ETH all time high to all those that celebrate!

Today, Bitcoin's market cap of ~$2T represents about 11% of gold's market cap of ~$18T. Bitcoin is a better form of money. It has the decentralization and scarcity of gold, but better divisibility, portability, and (i think) even fungibility. It's relatively harder to tell if gold is pure, or contains some lead in the middle of the bar. All this leads me to believe that any country with Gold reserves, should be holding at least 11% of that amount in Bitcoin reserves. And I believe in the next 5-10 years Bitcoin's market cap will likely surpass Gold. So these reserves should grow to exceed Gold. If the US leads here with a Strategic Bitcoin Reserve, I think many of the G20 will follow. Coinbase is available to help any country that wishes to do so. Get in touch.

The rumors are true, we bought the NFT. @UpOnlyTV is coming back.

6/ They refuse to tell us why they think it's a security, and instead subpoena a bunch of records from us (we comply), demand testimony from our employees (we comply), and then tell us they will be suing us if we proceed to launch, with zero explanation as to why.

1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live.

“If you don't believe me or don't get it, I don't have time to try to convince you, sorry.” Satoshi wrote that 15 years ago today. It took some time, but there are hundreds of millions of people that get it now.

I hope people realize how important this moment is for crypto. GENIUS is the first federal crypto bill signed into law, with more on the way. The financial revolution starts here.

If you see FUD out there - remember, our financials are public (we're a public company) s27.q4cdn.com/397450999/file…

Banks in the US are closed today. Crypto works for you every day.

Our thesis: Crypto is going to eat most of financial services, and @coinbase is 100% focused on crypto.

The U.S. needs to update its financial system. The code is 40 years old and the laws are 100 years old. Cryptocurrency is not a financial service. It's a technology that can be used to update financial services. Let's update the system.

.@Grayscale deserves a huge amount of credit for today, pushing this through the courts Absolute legends

₿

The best Christmas present you can give this year is a cancelled subscription to traditional media. They’ve harmed civilizational progress long enough.

The Internet of Money is happening. The lego pieces are ready to be assembled for consumer utility. 1. Base -> helping blockchains scale 2. ENS -> identity 3. USDC -> stable medium of exchange 4. Smart Wallets -> reduce onboarding friction etc

It’s time to get stablecoin legislation passed to create clear rules for crypto in America. 52m Americans have used crypto and want to see regulatory clarity.

Anti Money Laundering (AML) regulations have been a policy failure. They cost ~$213B annually, harm legitimate consumers (as we've seen with these de-banking stories), and only manage to stop ~0.2% of illicit activity according to the UN. Sounds like a job for @DOGE

I have to say this SEC wells notice has caused a noticeable boost in morale. Nice to have a common cause, but never forget the main goal is to build better products for our customers. Improving the policy landscape is necessary but not sufficient.

If fiat backed stablecoins really become inflation coins (not so stable), then how will we get a coin that is truly stable? Perhaps something that tracks a basket of real world goods (purchasing power parity) using oracles? Ideas welcome.

Incredible execution from the Trump administration and a historic moment for Bitcoin and crypto! I expect many of the G20 to take notice, and eventually follow America’s leadership.

This is an open call for any @DOGE staff. If you are looking for your next mission after serving your country, consider helping create a more efficient financial system for the world at @Coinbase. We've set up an accelerated interview/hiring process in recognition of your proof-of-work. (See link in reply post).

16 years ago today you could buy 1,309 BTC for $1. This is the first recorded dollar valuation of Bitcoin, calculated by electricity cost to mine Bitcoin at the time. The people crazy enough to think they can change the world are the ones who do.

America risks losing it's status as a financial hub long term, with no clear regs on crypto, and a hostile environment from regulators. Congress should act soon to pass clear legislation. Crypto is open to everyone in the world and others are leading. The EU, the UK, and now HK.

Heading to the @WhiteHouse to see the GENIUS Act become law, the official start of the financial revolution in the US. Thanks to all who helped us take this huge step for the crypto economy!

12/ Ostensibly the SEC's goal is to protect investors and create fair markets. So who are they protecting here and where is the harm? People seem pretty happy to be earning yield on these various products, across lots of other crypto companies.

15/ The SEC was the only regulator that refused to meet with me, saying "we're not meeting with any crypto companies". This was right after we became the first crypto company to go public in the U.S.

Interesting how crypto communities are congregating on Discord, which has traditionally been used for gaming. The intersection between gaming and crypto will be huge. (Reminder: it's also intersecting with art, finance, identity, governance, etc...Crypto is eating the world.)

The next SEC chair should withdraw all frivolous cases, and issue an apology to the American people. It would not undue the damage done to the country, but it would start the process of restoring trust in the SEC as an institution.

Nice small win. We went to court to challenge the SEC’s refusal to create clear rules for the industry – and it worked (a court compelled them to respond). Now that they've formally responded (with a no!) we can challenge their response in court, which helps us get one step closer to regulatory clarity. The question is why doesn't the SEC want to clarify outstanding regulatory questions for the crypto industry?

Yep

Marxism fails every time

5/ They responded by telling us this lend feature is a security. Ok - seems strange, how can lending be a security? So we ask the SEC to help us understand and share their view. We always make an effort to work proactively with regulators, and keep an open mind.