Coinbase CEO Brian Armstrong trolls the prediction markets

CEO Brian Armstrong of Coinbase stirred up controversy during his third quarter earnings call by deliberately mentioning crypto terms, causing a payout for those who bet on them in mention markets on Kalshi and Polymarket. While some found it amusing, others criticized it as market manipulation, potentially damaging the crypto industry's trust with traditional investors. Coinbase, however, is diving deeper into prediction markets with its new Everything Exchange and investments in Kalshi and Polymarket, despite employees being barred from participating in company-related markets. Armstrong dismissed criticism, claiming the move was spontaneous, sparking discussions on fairness, trust, and the evolving crypto landscape.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.