The Coinbase CEO predicts an eventual outcome: companies going public entirely on-chain, a move he says might lower costs, reduce friction and increase access. Armstrong further highlighted a trend whereby companies stay private for years, and all the money is made by private or credit investors, but when they go public, price performance often is not great. There’s such high demand for some of the large private companies, it’s actually a good example of the unintended consequences of higher regulation. We need to make capital formation way easier for private companies.
The Coinbase CEO outlined a future where companies go public entirely on-chain, a move he believes could lower costs, reduce friction, and broaden access. The vision includes building the infrastructure to bring every company—from startups to large banks—onto on-chain public markets. This approach aims to align private capital formation with blockchain technology and expand how listings happen.
Armstrong noted that many firms stay private for years, with private or credit investors capturing the upside while public market performance can lag. The demand for large private companies underscores the unintended consequences of higher regulation and the push to simplify capital formation. Coinbase has continued rolling out products to evolve into a one-stop financial app, expanding into stocks, tokenization, prediction markets, futures trading, perpetual futures, and DEX trading.
The December systems update signals Coinbase’s broader strategy to provide on-chain infrastructure across the corporate spectrum, from the smallest startup to the largest bank. By extending tokenization and trading capabilities, Coinbase aims to lower barriers for private firms seeking capital and for investors exploring new opportunities in a crypto-enabled market.
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