- CEO demonstrates confidence in appealing to investors
- Armstrong Claims Coinbase Is Still 100% Committed to the US Market
- Rumors about the move appeared against the background of the “letter of happiness” from the SEC
Yesterday, May 4, Coinbase presented investors with a financial report for Q1 2023, we covered it in a separate article. Among other things, the CEO of the company, Brian Armstrong, said in it that the exchange is still focused and committed to the US market despite pressure from the SEC.
Rumors of a move
At the end of March, the Securities and Exchange Commission (SEC) sent a “notice of possible lawsuit” to Coinbase. Shortly thereafter, Armstrong publicly stated that the company was ready to exit the US market if regulatory ambiguity continued.
Two days later, Coinbase received a license from the regulator in Bermuda, and then launched a new trading platform in an offshore zone. Is it any wonder that under such circumstances, rumors began to circulate that the company would move to a jurisdiction with a more favorable regulatory climate?
Armstrong tries to reassure investors
“Let me be clear on this point, we are 100% committed to the US market. I founded this company in the US because I saw that the rule of law prevailed here. This is very important and I am optimistic about this issue.” said the CEO in an address to investors.
He then explained what he meant:
“When I visit D.C., the bipartisan support of Congress is to accelerate the passage of new legislation that would create a clear set of rules in the US. I think it’s really important for America to get it right as best as possible.”
At the same time, Armstrong declined to comment on the progress of the SEC investigation. He only referred to the fact that the regulator did not explain the reasons for its interest in the exchange.
