“we've talked about integration with JP Morgan, uh PNC Bank... five of the top 20 GSIBs are now using Coinbase for that”
Top global banks now treat crypto as existential and are leaning in; JPMorgan is integrating Coinbase rails
“we're also powering integrations with like Black Rock and you know, they they've said they want to tokenize every single one of their funds”
Tokenization of every fund is happening; BlackRock is out front and partnering with Coinbase to do it
“crypto is massive. Like something like 500 million people have used it globally. You know, Bitcoin was the best performing asset class of the last decade.”
Best-performing asset of the decade plus a pro-crypto administration repatriating capital into the US
“we've got a strong relationship with Circle and USDC is the largest regulated stable coin because it is compliant under Genius in the US. They're compliant…”
Genius Act locks in USDC as the compliant winner as Tether scrambles to clean up; regulated stablecoins compound
“I was one of the original Angel investors in uh Robin Hood and I think they're doing Calchi too. It's it seems like people are plugging different ones in.”
Prediction markets and on-chain trading exploding; Robinhood plugged into Kalshi and the everything-exchange wave
“I think that yeah, the biggest trends are all assets are coming on chain for trading. Um prediction markets are growing like crazy and stable coin payments…”
Armstrong names the three trends he is building Coinbase around (all assets on-chain, prediction markets, stablecoin payments), and Coinbase is the one listed pure-play that monetizes every one of those rails. The non-obvious link is that these are not generic crypto trends but Coinbase's own 2026 roadmap, so betting the trends is mechanically a long COIN bet.
“having watched the Robo taxi self-driving thing and just watching the velocity that it's getting better and having watched the Uber story up close for 12…”
Calacanis stakes a timing view that mass self-driving arrives within roughly six years, drawing on his front-row Uber experience, and Tesla is the single instrument he gestures at via Optimus and Robotaxi.
“nuclear has uh over 20 or 30 years is vastly more efficient than any other power we know how to how to create... clearly we should be working on this”
AI data-center power crunch makes nuclear the obvious long-term build; UAE already deploying modular reactors
“The GPU, for example, has a lot of capacity of memory, but it's really slow... that's a huge bottleneck inference. It's why they just spent 20 $20 billion…”
Inference demand barely started; even a rival flags Nvidia paying $20B for Groq to fix fast inference
“the signal into the the makers has exploded... it will take us about 18 months to digest. The prices will stay high.”
Memory makers locked into 18 months of high prices as HBM demand explodes and crowds out other DRAM
“We were making the exact same amount of memory we are now as we were four months ago. And what's happened is the signal into the makers has exploded. And it…”
Feldman frames the memory squeeze as a structural 18-month supply digestion where prices stay high, and as a buyer of memory he is calling against his own cost base. Micron is the cleanest listed pure-play on DRAM and HBM pricing.
“if you go into many parts of the third world, you begin to see BYD... All over the rest of the world. We we don't see it, but it's unbelievable.”
BYD quietly running the table across the third world and Mexico while the US barely notices