Coinbase CEO Brian Armstrong said crypto has turned into a bipartisan issue in Washington as more voters and lawmakers question whether the current financial system works for them. In an interview with POLITICO, he said “something like 80% of Americans” feel the system is not serving their interests.
Armstrong pointed to high fees, slow payments, and unequal access to financial services as the main sources of frustration. He argued that crypto can act as a “democratizing force” by widening access to financial tools. He also described a split in political framing: Democrats tend to focus on access and inclusion, while Republicans emphasize national security, dollar strength, and keeping financial innovation in the United States.
Stablecoin rewards and regulation are central to the message
Armstrong also defended stablecoin rewards, saying banks should compete if customers are able to earn more on digital dollars. His remarks came as debates continue over crypto legislation, banking rules, and the place of private companies in payment markets.
That policy argument lines up closely with Coinbase’s broader strategy. The company is pressing for clearer rules, wider access to products, and more room to compete with both banks and offshore crypto venues. In that sense, the regulatory push and the business push are moving together.
Deribit acquisition adds scale in options and derivatives
At the corporate level, Coinbase is still using acquisitions to expand. Bloomberg reported that after agreeing to buy Deribit for $2.9 billion, Armstrong said the company would continue reviewing merger and acquisition targets. He said Coinbase is always looking at M&A opportunities, has a large balance sheet, and can use its public stock to help finance deals, while adding that the company would not “swing at every pitch.”
Coinbase closed the Deribit acquisition in August 2025. The transaction gave the exchange a major foothold in crypto options and strengthened its futures and perpetuals lineup. Before the deal closed, Deribit reported more than $185 billion in volume in July 2025, while Coinbase said the platform held about $60 billion in open interest.
Expansion now stretches beyond spot trading
After the acquisition, Coinbase opened regulated access to Deribit options for eligible U.S. institutions through Coinbase Financial Markets. That gave institutions a way to reach global crypto derivatives markets without relying on offshore workarounds.
The company has also bought LiquiFi, a token management platform used for vesting, cap table tracking, and compliance workflows, showing that Coinbase wants to serve token projects before they reach exchange listings. Another acquisition, The Clearing Company, supported its move into prediction markets.
Coinbase’s platform expansion now includes event contracts, stock trading, and AI-linked payments. For large exchanges, derivatives, stablecoins, event markets, and token services are becoming key revenue lines outside spot trading fees. Coinbase’s next challenge is execution: integrating Deribit, clearing regulatory checks, and showing that these new products can add volume without taking on too much risk.