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.
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.
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.
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.
Armstrong previously pushed bullish sentiment further by claiming that “all the haters” will be using crypto one day.
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.
The move has drawn criticism from commentators who argue that crypto leaders are pivoting away from digital assets as enthusiasm for the sector wanes.