The Future of Money with Brian Armstrong
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What are Dogecoin, Shiba Inu, and other crypto terms?
From the free press, this is Honestly, and I'm Barry Weiss. Have you ever gone on the internet and stumbled onto combos of words or perhaps non-words? I'm talking Dogecoin, the Shibu Inu one, Hawkcoin, or Bored Ape NFT. If those things sound like gibberish, don't worry, we're going to explain. And also, it's time to start learning them, because they exist in a new financial ecosystem, the world of crypto, a market that started just 15 years ago and is now worth more than $3 trillion. This new world has caught the attention of a lot of people, including President Donald Trump.
This is all common sense that we're talking about today, and Bitcoin and crypto will skyrocket like never before, even beyond your expectations, and you are the people that are doing it.
Since coming to office, Trump has appointed a crypto czar, floated the idea of a national crypto stockpile, and launched his own meme coin, as did first lady Melania.
President Donald Trump's latest venture into crypto has sparked both controversy and a financial windfall.
They reportedly made $100 million in just trading fees so far. To top it off, he's taking calls from the biggest names in the business, one of which is our guest today, Brian Armstrong. Brian is a 42-year-old San Jose native who changed the nature of commerce, not only in America, but all over the world. That's because he founded the cryptocurrency platform Coinbase in 2012. It's now the largest crypto exchange in the world. To some, he's doing something as revolutionary as building rocket ships that go to Mars by bringing us into a new digital and financial age. To skeptics, he's growing an industry riddled with scammers, grifters, and even criminals.
Sam Bankman-Fried was convicted of orchestrating what prosecutors are calling one of the largest financial frauds in history.
This was something that we had never seen before. This was Attorney General Merrick Garland and Treasury Secretary Janet Yellen appearing side by side to announce criminal charges and a plea deal with Binance and its CEO, Chen Pengzao, known as CZ.
But Armstrong says stories like SBF are the sideshow and that Bitcoin, or perhaps another crypto coin we haven't yet heard about, will prove itself to be as essential as the dollar. Today on Honestly, I asked Brian why he thinks crypto is the way of the future, how he navigates eager regulators, what he thinks about Elizabeth Warren specifically.
I just want to collaborate with the industry. What I don't understand is why the industry seems to be saying that the only way that they can survive is if there's plenty of space for the drug traffickers and human traffickers, that all of that has to be left open.
why he was so politically active in this last election, how MAGA's America First ethos gets along with the borderless, decentralized crypto zeitgeist, and if crypto is really as dangerous as some make it out to be. We also talk about the volatility of these assets and why that makes them different from gold, or if it doesn't. We talk about Doge, Elon Musk, Brian's recent meeting with Trump, and how the decision to keep politics out of Coinbase in the workplace was one of the hardest things he's ever had to do. I learned a lot from this conversation. Crypto is not my typical subject, as you know, and I found it extraordinarily fascinating. I think you will, too. Stay with us. Even if you think it's a bit overhyped, AI is suddenly everywhere, from self-driving cars to molecular medicine to business efficiency. If it's not in your industry yet, it's coming, and it's coming fast. But AI needs a lot of speed and computing power. So how do you compete without costs spiraling out of control?
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