I have been watching this unfold ever since I bought my very first crypto on Coinbase many years ago. I can not believe that Brian Armstrong does not ever do a moral accounting and deep dive inside himself. If he was not such a narcissist, he could have the best CEX, going away. But, he continues to shoot himself in both feet at every turn. I feel sorry for such a self-UNaware person who thinks he is better than everybody because he's a billionaire. Believe me, I know what I am talking about. No, I am not a billionaire. I am a retired teacher and mental healthcare psych technician. I can only hope that he will see that if he changed his ways and attitudes toward ALL people, he would be much richer and happier, as would we all. I hope he gets help, or the board replaces him. Or both. Brian, you are out of touch with reality, ensnared in a gigantic trap of epic denial.

Its more likely that he’s going to lose everything and end up in a bad place, IMO.

Coinbase hasn’t cornered the market. They’re one player in an industry where other players aren’t that far behind. They had first mover advantage which it seems like they’ve squandered on dumbass political fights.

Brian should’ve done what other CEOs do: hire a Head of DIB, fund them just enough, and focus on product.

Instead he’s suffered from that ailment that everyone will suffer from when they’re on a success high: they believe they’re somehow just better due to X (doesn’t matter what it is) and all their decisions will then be around defending that core belief.

Or in other words, he is a huge idiot. He’s going to wreck everything and the end result isn’t going to be pretty.