Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business

Following his attendance at the World Economic Forum in Davos, Coinbase CEO Brian Armstrong stated that traditional finance is taking cryptocurrency very seriously. He shared that an executive from one of the world's ten largest banks described crypto as their "number one priority" and an "existential" threat, highlighting a significant shift in how legacy institutions view digital assets. Armstrong noted that many financial leaders he met were actively seeking ways to engage with crypto, viewing it as an opportunity. Key discussion points included tokenization of assets like equities and credit, which threatens to disintermediate traditional banks by enabling direct value transfer. Armstrong also emphasized the growing need for regulatory clarity in the U.S., citing the Trump administration's support for crypto legislation, and noted that AI and crypto were the two most-discussed technologies, predicting AI agents will likely use stablecoins for payments.

(Source：CoinDesk)