Core Perspective - Coinbase aims to evolve into a financial "super app" that integrates crypto with a wide range of financial services beyond traditional banking [1][4]. Group 1: Strategic Vision - The long-term goal of Coinbase is to replace traditional banking services, providing a comprehensive application for spending, savings, payments, and investing [3][4]. - Coinbase has already launched a credit card that offers 4% back in bitcoin, showcasing its commitment to integrating crypto into everyday financial transactions [3]. Group 2: Regulatory Environment - There is a growing momentum in Congress for establishing regulatory frameworks for the crypto industry, which is seen as beneficial for Coinbase's ambitions [2][5]. - The recent passage of the "Genius Act" and ongoing discussions about a market-structure bill are pivotal for defining regulations around tokens like bitcoin and ether [5][6]. Group 3: Industry Challenges - Armstrong highlighted the need to overcome lobbying efforts from big banks that seek to restrict crypto rewards programs, arguing that such rewards are akin to traditional loyalty programs [6][7]. - The clarity in regulations could help resolve past conflicts with regulators, who previously treated crypto tokens as unregistered securities [6].