Coinbase CEO Stuns Crypto X, Issues Unexpected Take on Solana

Coinbase CEO Brian Armstrong has stunned the crypto community with an unexpected Solana statement. In a tweet, Armstrong wrote, “I like @Solana.”

Armstrong’s statement follows Coinbase’s systems update on Dec. 17, which saw exciting product announcements, among other updates.

His tweet comes in reaction to Emilie Choi, Coinbase president and COO, who responded to Solana Founder Anatoly Yakovenko’s tweet expressing how he likes Coinbase. The Solana founder had first tweeted, “I like Coinbase.”

Accompanying an image posted by the Coinbase CEO, he expressed gratitude to the Solana team for their support at the crypto exchange’s product event. “Thanks to the Solana folks who came and supported our product event. Excited to have launched Solana DEX trading on Coinbase, and to keep working together,” the Coinbase CEO said.

Armstrong, in prior times, expressed support for Solana. In January this year, the Coinbase CEO announced plans to offer “tier 1 support” for Solana, highlighting the need for the crypto exchange to step up its game on the cryptocurrency.

In the past week, J.P. Morgan successfully arranged a U.S. Commercial Paper issuance for Galaxy Digital Holdings LP, on Solana, purchased by Coinbase and Franklin Templeton. The transaction is one of the earliest debt issuances ever executed on a public blockchain.

Solana arrives to Coinbase

According to a recent announcement, millions of Solana tokens are already live on the Coinbase app. Traders can now trade Solana tokens via Jupiter DEX within the Coinbase app, with the feature rolling out in the U.S.  The feature was teased in August, when Coinbase first offered access to tokens on its Ethereum layer-2 network, Base.

The Solana announcement was part of a slew of product updates shared at the Coinbase Systems update event.

Coinbase crypto exchange revealed its systems update on Dec. 17, allowing stocks and prediction markets on the platform.  

Coinbase has also introduced Coinbase Tokenize, an end-to-end platform for institutions to bring assets on-chain. Next year, the crypto exchange said it would be launching equity perpetuals for non-U.S. traders, making equities available 24/7 around the world.