The #Nasdaq listing and #IPO of #Coinbase is followed with curiosity in the traditional finance world as well as in the cryptocurrency universe. The point where crypto currencies, especially Bitcoin, have come, the price increase and the interest of institutional companies are now higher than ever in the past 10 years.
#Fred #Ehrsam, one of the co-founders of #Coinbase, one of the few who has experienced this situation from the very beginning, commented on his #Twitter account.
Ehrsam, who is not currently at Coinbase and is the founder of the crypto investment company #Paradigm, wrote that they met #Brian #Armstrong, the economic conditions at that time and how they transformed from a two-room apartment to Coinbase, which has more than a thousand employees today.
↘️Here are the Ehrsam's Tweets:
When we started Coinbase with Brian Armstrong in 2012, Bitcoin was $ 6 and was unknown to anyone but a few internet addicts. Bitcoin was the digital currency idea that anyone in the world could own, and it was crazy. Coinbase had a goal: to make cryptocurrency easier to use.
The beginning was not fascinating, of course. Coinbase was set up in a two-bedroom apartment shared with another company. We were far from traditional finance. The first person we hired was not a Google executive, but a smart and fanatical employee.
Like the cryptocurrency universe, Coinbase has grown over time. A simple Bitcoin wallet has become a very important individual and corporate product that will support the crypto economy. Two computer geeks who met online (yes, I met Brian Armstrong on Reddit) turned the company into a place with more than 1000 employees.
We also had very serious difficulties. Between 2014 and 2017, those outside the Crypto universe were saying the industry was dead. More than one third of our employees left.
However, crypto continued to grow. Ethereum took the stage and opened new doors and possibilities to this universe, showing that cryptocurrency applications are also possible.
When we look at it 10 years later, we see that with the growing ecosystem of crypto, money, financial system and the internet itself are redefined.
From central infrastructure (brokerage, stock exchange, custody service) to crypto financial instruments (DeFi), ownership and usage areas ( NFT ) in digital media , the number and quality of entrepreneurs coming to the ecosystem continues to be astonished every day.
The most important #academic #institutions have started to open courses on #cryptocurrencies. The fullest classes are formed in these classes. Many #universities such as #Harvard, #Duke, #MIT, and #Stanford have established cryptocurrency institutes.
#Banks, asset managers, fintech companies, and even non-financial service companies have now embraced this universe.
#Bitcoin is currently $ 63K and the total value of crypto assets is around $ 2 trillion.
And crypto is just getting started. We are only at 1 percent of the most important technology we will see in the next 10 years. Crypto will redefine money and information, two primary ways coordinating the world.
I am honored to be a small part of this journey that will make society better. I greet all crypto producers who have discovered and investigated this critical frontier. I also can't wait to see this thing we've created together.
Whoever you are, thank you #Satoshi.
Photo: Brittany Mclaren