Coinbase CEO Brian Armstrong has shared his views on the growing trend of meme coins. He likens them to early internet fads, such as animated GIFs. While he warns about illegal activities in the sector, he supports a free-market approach. This allows users to make their own investment decisions.
Armstrong mentioned on X (formerly Twitter) that he does not actively invest in meme coins, aside from a few test trades. However, he sees potential in them. He believes that as the market matures, meme coins could have broader uses. He compared them to digital trends that seemed insignificant at first but later gained value. He even suggested that Bitcoin could be considered a meme coin.
He envisions a future where many aspects of life, like posts and identities, will be tokenized on the blockchain. While encouraging an open-minded view of meme coins, he also pointed out their risks. Insider trading is a growing concern, as seen with the LIBRA token, which has faced criticism. Armstrong emphasized that illegal activities have serious consequences.
He cautioned against the “get-rich-quick” mentality prevalent in crypto cycles. Armstrong reiterated Coinbase’s commitment to market freedom, stating that if something is legal and customers want it, they should have the choice. However, he clarified that Coinbase aims to provide unbiased information rather than promote specific tokens.
Speculation about Coinbase’s involvement with the FROC token has increased after a new tutorial was released. Some users noted the timing of Armstrong’s comments on meme coins coinciding with Coinbase’s addition of CLANKER to its roadmap. Claudia Haddad, a project manager at Coinbase, shared a guide using FROC as an example, further fueling speculation.
Despite this, Coinbase has not officially endorsed the FROC token. Some users remain skeptical about the company’s intentions, drawing parallels to Binance’s recent experience with the TST token. Armstrong’s comments and Coinbase’s actions have sparked ongoing debate about the future of meme coins and the exchange’s role in it.
