Coinbase CEO Shows Senator Data on Crypto's Growth, Argues Banning It Could Be Bad Politics
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Coinbase CEO Brian Armstrong posted a video showing a U.S. Senator admitting that bankers influenced the "crypto ban" bill, warning that being anti-crypto could be bad politics in 2024.
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52 million Americans have used crypto; 38% of young Americans think crypto increases economic opportunities. Crypto prices are up 90% year-to-date.
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Armstrong emphasized crypto's future potential, citing stats like 425M crypto owners globally and 83% of G20 countries moving toward crypto regulation.
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Crypto is increasingly used for payments and wealth preservation in countries with low economic freedom like Argentina and Nigeria.
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Crypto remittances are 96% cheaper and faster than traditional methods; stablecoin transfers reached $9 trillion in 2022, surpassing volume from major card companies.