CandleFocus Coinbase CEO Breaks Down Important Bitcoin ETF Question
2024-09-15
Author: Content Editor
Coinbase CEO Brian Armstrong addressed concerns from the cryptocurrency community regarding the handling of Bitcoin ETFs. The concerns were sparked by a tweet from Justin Sun, who expressed doubts about centralized ETFs lacking proof of reserve and the ability to freeze balances. Armstrong reassured the community that Coinbase's ETF operations are settled on-chain, ensuring security and transparency. He also mentioned that institutional clients have options such as trade financing and OTC trades before settling on-chain. Armstrong emphasized that Coinbase is audited yearly by Deloitte, providing further confidence to institutional clients. However, the discussion raises concerns about trust and decentralization principles within the cryptocurrency community.
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