Brian Armstrong, CEO of major U.S. cryptocurrency exchange Coinbase, said on January 21 that the global financial system is approaching a turning point centered on Bitcoin (BTC).
Speaking at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Armstrong described the ongoing transformation of global finance as the emergence of a “Bitcoin-based monetary system,” drawing significant attention from policymakers and industry leaders.
Debate With Central Bank Leaders Highlights Bitcoin’s Independence
Armstrong made the remarks during a panel discussion titled “Crypto at a Crossroads,” where he debated François Villeroy de Galhau, Governor of the Banque de France.
While Villeroy de Galhau stated that he would prefer democratically accountable central banks over privately issued cryptocurrencies, Armstrong pushed back by emphasizing Bitcoin’s unique structure.
“Bitcoin is not controlled by a country, a corporation, or an individual,” Armstrong said. “It is a protocol. There is no issuer.”
JUST IN :
Coinbase CEO Brian Armstrong just schooled the French Central Bank Governor on live stage:"Bitcoin is a decentralized protocol… Bitcoin is more independent."
No money printer. No single point of control. No political favoritism.
Central banks hate this one… pic.twitter.com/YViiidpmHq
— Whale Degen (@hiwhaledegen) January 21, 2026
The comments marked a symbolic shift for Davos, where Bitcoin was once excluded from serious financial discussions. Armstrong also noted that the current fiat-based system is historically young, dating back only to 1971, when President Richard Nixon ended the gold standard.
He argued that Bitcoin should not be viewed merely as a speculative asset, but rather as a global monetary network governed by its own principles.
Concerns raised by prominent investors such as Ray Dalio, particularly around rising sovereign debt and central bank reserve management, have further fueled debate over the sustainability of the existing monetary order.
Regulatory Tensions and the Stablecoin Revenue Debate
Behind the scenes, regulatory friction between traditional banks and crypto firms continues to intensify.
Armstrong accused U.S. banking institutions of using regulation to suppress competition, arguing that banks are attempting to block crypto companies from offering interest-bearing products not due to financial risk, but to protect their own business models.
These tensions have directly affected U.S. legislation. Coinbase recently withdrew support for the proposed CLARITY Act after provisions were added that would restrict rewards on stablecoin holdings such as USDT.
Stablecoin-related revenue is a key part of Coinbase’s business, accounting for approximately $355 million, or about 20% of its Q3 revenue, underscoring the strategic importance of the issue.
Governments Begin Reassessing Bitcoin’s Role
Despite regulatory pushback, signs of a policy shift are emerging within the U.S. government.
Treasury Secretary Scott Bessent has previously suggested that seized Bitcoin could be incorporated into a U.S. strategic reserve, signaling growing institutional acceptance.
Once dismissed by policymakers, Bitcoin is now being discussed within national frameworks. If state-level adoption accelerates, market observers say it could set the stage for the next major crypto cycle.
