Coinbase CEO: Self-hosting is the only way to reach over 1 billion users with encryption

Coinbase CEO Brian Armstrong stated that self-hosted wallets were the only way to allow open financial systems to reach more than 1 billion users. He noted that alternatives such as Coinbase app had worked well in more well-regulated developed countries, but that the United States only had 4 per cent of the global population. Armstrong believes that self-custody can reduce account opening friction, be available on a global scale and be expanded in a software manner rather than creating regulated entities and local teams in each country. He also mentioned that AI agents were more suitable for accessing funds and fulfilling mandates in the form of self-custody, which was also important for economic freedom, even in developed countries. In addition, Jesse Pollak, the former head of Base, announced his resignation and handed him over to Jordan Fish, who indicated that Base would be built as a global financial block chain and that after Cobie took over, Base would shift to the three core directions of transaction, payment and agency。