Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously By Aoyon Ashraf , AI Boost Jan 24, 2026, 7:22 p.m. Make us preferred on Google Brian Armstrong and Larry Fink (David Dee Delgado/Getty Images) What to know : Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue. At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks. He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails. During his trip to Davos for the World Economic Forum, Coinbase CEO Brian Armstrong shared that a top executive at one of the world’s 10 largest banks told him that crypto is now their “number one priority” — and that they view it as “existential.” Armstrong’s post, shared on X , highlighted a shift in how legacy financial institutions are engaging with crypto. The remark underscores the growing urgency among traditional banks to adapt to crypto infrastructure, particularly as global regulators move closer to establishing clearer rules for digital assets. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Just wrapped up our week in Davos. I don't love wearing a suit every day, but sometimes it has to be done! Davos is a unique place - world leaders and CEOs (and lots of crypto companies!) all come together in a small mountain town in Switzerland for a few days. It’s a productive… pic.twitter.com/0lO5TqRhkL — Brian Armstrong (@brian_armstrong) January 24, 2026 Armstrong didn’t name the bank or executive, but said that many financial leaders he met during the weeklong event weren't just open to crypto — they were actively seeking ways to get in. “Most of them are actually very pro crypto and are leaning into it as an opportunity,” he wrote. For banks that rely on legacy payment rails, crypto represents both a challenge and an opportunity. Read more: Bank of America CEO says stablecoins could drain trillions in bank deposits Tokenization push As stablecoins and tokenized assets gain momentum, the threat of disintermediation grows. It's possible that a global asset manager or fintech firm could someday bypass traditional banks entirely by offering direct access to tokenized securities or stablecoin-based transfers — moving value instantly, without clearing delays or middlemen (a core pillar of crypto). Armstrong said tokenization was one of the most discussed trends at Davos, expanding beyond stablecoins into equities, credit, and other financial products. He pointed to the estimated 4 billion “unbrokered” adults worldwide who lack access to high-quality investments. Tokenization, he argued, could help close that gap. "Expect some major progress here in 2026," he added. Regulation CLARITY The Coinbase CEO also noted that political support for crypto in the U.S. appears to be strengthening. He cited the Trump administration’s push for crypto-focused legislation, such as the CLARITY Act, which aims to provide a regulatory framework for digital assets. Armstrong didn't touch on his firm's decision to withdraw support for the crypto market structure bill at the last minute, following which the hearing was delayed. Read more: Here's why Coinbase and other companies soured on the major crypto bill Armstrong described the administration as “the most crypto-forward government in the world” and said the push for clear rules is essential to keeping the U.S. competitive as countries like China invest heavily in stablecoin infrastructure. A theme Donald Trump has also talked about during his speech at Davos. AI and crypto Armstrong also said that artificial intelligence (AI) and crypto were the two most-discussed technologies at Davos. While in the capital markets, AI's surge has taken the wind out of crypto, Armstrong stressed that the two are closely linked. AI agents, he said, will likely default to using stablecoins for payments, bypassing conventional identity checks and banking restrictions altogether. The infra exists, and usage is rapidly growing," he added. The message from Armstrong’s Davos recap was clear: crypto isn’t a fringe experiment anymore. For at least some of the world’s biggest financial players, it’s now a strategic priority — and possibly a matter of survival. Read more: Coinbase CEO Brian Armstrong spars with France’s Central Bank chief at Davos over yield and ‘bitcoin standard’ Coinbase Brain armstrong AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market By CoinDesk Research Dec 22, 2025 Commissioned by KuCoin KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market. What to know : KuCoin recorded over $1.25 trillion in total trading volume in 2025 , equivalent to an average of roughly $114 billion per month , marking its strongest year on record. This performance translated into an all-time high share of centralised exchange volume , as KuCoin’s activity expanded faster than aggregate CEX volumes , which slowed during periods of lower market volatility. Spot and derivatives volumes were evenly split , each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line. Altcoins accounted for the majority of trading activity , reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover. Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity , indicating structurally higher user engagement rather than short-lived volume spikes. View Full Report More For You Agora's Nick van Eck bets on stablecoin boom in enterprise payments By Krisztian Sandor | Edited by Nikhilesh De 1 hour ago Agora CEO Nick van Eck sees stablecoin adoption shifting to real-world business for cross-border payments. What to know : Agora, founded by Nick van Eck, is shifting its focus from DeFi growth toward using its AUSD stablecoin for enterprise payroll, B2B and cross-border payments. Van Eck argued that traditional companies will adopt stablecoins slowly due to infrastructure, policy and education gaps, but sees the biggest gains in replacing costly, pre-funded cross-border payment systems. He said he expects corporate-controlled chains like Circle's Arc, Coinbase's Base and Stripe's Tempo to dominate as the market consolidates, and aims for Agora to become a top-five global stablecoin issuer by building tools that feel more like bank accounts than crypto. 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