Coinbase CEO Armstrong Says Banks That Don't Adapt to Stablecoins Will Be 'Left Behind'

Group 1: Partnership and Market Outlook - Coinbase is collaborating with major U.S. banks on pilot programs related to stablecoins, crypto custody, and trading, indicating a growing acceptance of crypto infrastructure by traditional financial institutions [1] - The stablecoin market is projected to reach $1.2 trillion by 2028, with potential for numerous growth paths, while Citi forecasts it could hit $4 trillion by 2030 in a bullish scenario [2] Group 2: Perspectives on Bitcoin - BlackRock CEO Larry Fink has shifted his view on bitcoin, now considering it a hedge against uncertainty, emphasizing its role in protecting against financial insecurity and currency debasement [3] - Despite recent declines in bitcoin's value, both Fink and Coinbase's CEO Brian Armstrong see significant use cases for the asset, with Armstrong asserting that there is "no chance" it will go to zero [4] Group 3: Regulatory Environment - Armstrong advocates for clearer regulations from U.S. lawmakers, expressing hope for the Senate to vote on the CLARITY Act, which aims to define legal responsibilities for crypto exchanges and other digital asset participants [4]