Coinbase CEO Brian Armstrong said he doesn’t see the crypto industry going through a prolonged slump, despite recent volatility in cryptocurrency prices and speculation that we're entering another crypto winter.
Armstrong argued that crypto winters are a thing of the past, given the industry’s strong growth and momentum.
“I don't think we're entering the crypto winter,” Armstrong said on Coinbase's fourth-quarter earnings call on Thursday. “In fact, we don't really think about it like that anymore. Early on in crypto history, there was a trend of going through summers and winters. Crypto is working now. So I don't expect it to be anything quite that pronounced over time.”
Speculation heightened recently that the crypto industry was entering a new down cycle as prices have fallen dramatically since late last year.
Coinbase reported fourth-quarter results that beat Wall Street expectations, though the its stock slipped in after-hours trading after the company said it expects lower trading volume in the current quarter.