Brian Armstrong, the chief executive of the largest U.S. bitcoin, ethereum and crypto exchange Coinbase, has predicted looming crypto regulation will help the largest crypto companies over smaller rivals—calling the company "undervalued" after its brutal 80% stock price collapse.
"I’m glad that we’re helping the market kind of understand crypto cycles better," Armstrong said. "Because that’s kind of been our history as a company, [that] we want to blaze a trail, legitimize the whole industry. We don’t mind being misunderstood or questioned for a few years. We’re playing this for the long term."
Meanwhile, Armstrong expects long-awaited bitcoin and crypto regulation currently being debated by lawmakers in the U.S. and around the world will entrench "the largest companies" such as Coinbase.