Key Takeaways
- Coinbase CEO Brian Armstrong claimed now was the best opportunity to build and invest in crypto.
- The firm’s expansion into precious and industrial metals trading has drawn criticism from commentators.
- Regulatory uncertainty persists after Coinbase withdrew support for a Senate crypto bill.
Coinbase Chief Executive Brian Armstrong said the current downturn in crypto markets presents an opportunity to build and invest, even as precious metals outperform digital assets and his exchange expands trading access to gold, silver and other metals.
Armstrong’s comments come amid growing skepticism towards crypto leaders, with critics arguing that prominent figures are shifting attention to metals in response to investor sentiment rather than long-term conviction.
Armstrong Highlights Opportunity
In a post on X, Armstrong said subdued sentiment following years of heavy venture capital investment had created favorable conditions for builders and investors who still believe in crypto’s long-term potential.
“Yeah, honestly these are the best times to get ahead,” Armstrong wrote, responding to a post noting that more than $36 billion in crypto venture capital was raised in 2022, while sentiment has deteriorated since.
The post said metals had outperformed cryptocurrencies.
Teams that raised large sums had shut down, and sectors such as decentralized finance and non-fungible tokens had failed to meet expectations.
“Can’t think of a better time to build and invest if you believe in something,” the post read said, adding that little had broken into the mainstream beyond prediction market platform Polymarket.
Armstrong previously pushed bullish sentiment further by claiming that “all the haters” will be using crypto one day.
“…and they won’t even realize it,” he wrote on X.
Coinbase Expands Trading Into Precious Metals
Coinbase has recently expanded access to precious and industrial metals trading on its platform, alongside its token offerings.
In a separate post, Armstrong said traders could access metals through Coinbase, writing: “You can trade precious metals on Coinbase.”
According to Coinbase Traders, the exchange now offers futures contracts for silver, gold, copper and platinum, allowing traders to gain exposure with less upfront capital.
“Copper and platinum futures are here,” Coinbase Traders said in a post.
“Trade copper and platinum on Coinbase with less upfront capital and get exposure to two of the most important industrial metals alongside gold and silver.”
Critics Target Money-Driven Motives
The move has drawn criticism from commentators who argue that crypto leaders are pivoting away from digital assets as enthusiasm for the sector wanes.
Jacob King, a crypto critic, said the industry’s embrace of metals undermined claims that its leaders believed in crypto’s transformative potential.
“These so-called ‘crypto leaders’ spent the last few years urging everyone to pile into their shitcoins and exchanges, claiming crypto would take over the world,” King wrote.
“Now, with metals skyrocketing and crypto effectively left in the dust, as investors agree Bitcoin has no intrinsic value beyond speculative gambling, notice how quickly all the ‘leaders’ of this space have switched to metals,” he added.
King said that firms including Binance, Coinbase and Tether launching investments in gold and silver showed they were “purely money-driven.”
“The moment crypto hype dies, they abandon it for the next hot thing,” King wrote, adding:
“You cannot trust a word they say.”
Coinbase Rejects Market Structure Bill
Coinbase also withdrew its support for a draft Senate crypto market structure bill on Jan. 15, which dealt a setback to the legislation as lawmakers weighed competing priorities.
Armstrong said the latest draft was “materially worse than the status quo,” citing what the company described as “too many issues.”
Coinbase’s backing had been seen as critical to maintaining industry consensus, and its withdrawal raised doubts about the bill’s ability to advance in its current form.
Analysts estimate a 50% to 60% chance that the bill could pass in 2026.
Although this is contingent on resolving disputes over stablecoins and regulatory authority in the coming months.
In the absence of legislative progress, regulators are moving to ease some pressure on the crypto industry.
SEC Chair Paul Atkins has signaled a shift toward rulemaking and targeted exemptive relief.
This change indicates a softer enforcement stance. It could provide short-term breathing room for crypto firms.
Some lawmakers, however, say such measures fall short of the regulatory clarity the industry has been seeking from Congress.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
