CEO of Coinbase Responds to Trump’s Tweet Criticizing Cryptos

On Thursday night, President Donald Trump tweeted about cryptocurrencies for the first time in history. 

In a three-part thread, Trump stated:

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity... Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National... and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”

Brian Armstrong, the CEO of Coinbase has responded to this tweet, noting that it is a win just to have Trump tweeting about cryptocurrencies at all. 

Armstrong responded: 

“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y'all.”

Author: May Arjomand

Related Articles