Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/coinbase-ceo-brian-armstrong-addresses-bitcoin-etf-concerns/" data-wpel-link="internal">Coinbase CEO Brian Armstrong Addresses Bitcoin ETF Concerns</a><br></p>
<p style="text-align: justify">Concerns have emerged within the <a href="https://en.coin-turk.com/us-debt-ceiling-conundrum-crypto-bank-failures-and-tax-revenue-disappointment/" data-wpel-link="internal">cryptocurrency</a> community regarding <a href="https://en.coin-turk.com/potential-sec-legal-targets-in-crypto-space-speculation-rises/" data-wpel-link="internal">Coinbase</a>‘s management of Bitcoin ETFs. In response to these worries, Coinbase CEO Brian Armstrong clarified the company’s approach to ETFs.</p> 
<h2 id="coinbase-s-etf-strategy">Coinbase’s ETF Strategy</h2> 
<p style="text-align: justify">Armstrong detailed how Coinbase manages its ETF operations, emphasizing that all ETF issuance and redemption processes occur on-chain, ensuring security and transparency. He highlighted the variety of options provided to institutional clients, including trading finance and over-the-counter (OTC) transactions, which offer flexibility while maintaining secure on-chain settlements.</p> 
<h2 id="centralization-and-trust">Centralization and Trust</h2> 
<p style="text-align: justify">Armstrong acknowledged that investors rely on centralized custodians to hold their core <a href="https://en.coin-turk.com/crypto-markets-continue-to-recover-will-altcoins-rise/" data-wpel-link="internal">crypto</a> assets. He stated that Coinbase does not contest this fact and recognized the inherent risks of central custody. However, he argued that this reliance facilitates significant institutional capital entering the Bitcoin market.</p> 
<blockquote> 
 <p>Brian Armstrong: “Coinbase is audited annually by the reputable firm Deloitte.”</p> 
</blockquote> 
<h2 id="audits-and-transparency">Audits and Transparency</h2> 
<p style="text-align: justify">Addressing the proof of reserve issue, Armstrong emphasized that Coinbase undergoes annual audits by Deloitte, which should instill greater confidence in corporate clients regarding the safety and accuracy of their funds. He asserted that these transparency and auditing processes support Coinbase’s position as a reliable platform for ETF transactions.</p> 
<p style="text-align: justify">The debate over centralization and trust continues within the cryptocurrency community. Despite Coinbase’s transparent processes and annual audits, concerns regarding centralized control remain for those committed to Bitcoin’s decentralized principles. Armstrong’s remarks reflect a pursuit of balance between centralization and trust, highlighting the need for both approaches to coexist in the crypto ecosystem.</p> 
<p>The post <a href="https://en.coin-turk.com/coinbase-ceo-brian-armstrong-addresses-bitcoin-etf-concerns/" data-wpel-link="internal">Coinbase CEO Brian Armstrong Addresses Bitcoin ETF Concerns</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Coinbase CEO Brian Armstrong Addresses Bitcoin ETF Concerns

Table of Contents

COINTURK NEWS

Other articles published on Sep 15, 2024

Sui forms a rare bullish pattern as open interest hits all-time high

Stokmarknes Residents Celebrate Closure of Noisy Bitcoin Mining Facility

Bitcoin Holds Firm Above $60,000 Mark

Magic Eden Defies Market Trend As Its NFT Ecosystem Soars

Free online service model might be coming to an end — Mental Outlaw

Join the Qubetics Whitelist to Revolutionise Blockchain Transactions With Qubetics’ Gasless TICS ...

Join our free newsletter for daily crypto updates!