When it comes to token trading platforms, I believe many people will think of Coinbase. At present, Coinbase is already one of the largest token trading platforms in the world. In just ten years, Coinbase has grown from an inconspicuous small company to a giant in the encryption world. On April 14, 2021, Coinbase was successfully listed on NASDAQ and officially entered Wall Street. At the same time, Coinbase also became the first legally compliant listed company in the token trading platform industry.

As a leader in the cryptocurrency industry, the establishment and development of Coinbase is legendary, and the identity of its founder has also attracted the attention of many people. Different from traditional industries, the encryption world is the place where the most young rich people are born. Brian Armstrong, the founder of coinbase, is also a young post-80s. Brian Armstrong was born on January 25, 1983 and grew up in San Jose, California. When Brian Armstrong was in high school, he had a strong interest in computers and immersed himself in the joy of learning Java and CSS. Thanks to the Roast Boy Creators Alliance!

While attending Rice University in Houston, Texas, Brian Armstrong earned a BA in Economics and a MS in Computer Science. It is also Brian Armstrong's academic background in economics and computing that paved the way for his future relationship with Bitcoin. We all know that Bitcoin's economic system combines economics and computer cryptography. When Brian Armstrong first came into contact with Bitcoin, he was impressed by the design of Bitcoin and was full of enthusiasm for the development of Bitcoin. That is, since then, the idea of ​​​​creating a bitcoin company has sprouted in Brian Armstron's mind.

In June 2012, Brian Armstron's dream finally came into reality. He and Fred Ehrsam co-founded the famous currency exchange service platform - Coinbase. Coinbase's vision is to create a bitcoin trading platform where people can freely buy and sell bitcoins through Coinbase. Coinbase was fully launched in October 2012. At the beginning of the platform, it only provided bitcoin exchange services, and later gradually included multiple cryptocurrencies such as Ethereum and Litecoin. No one thought that a new world of unicorns would be born in this way.

In fact, Coinbase is not the first Bitcoin trading platform established. The Kraken trading platform headquartered in San Francisco was established in 2011, which is earlier than Coinbase. Why can Coinbase stand out? This obviously has a lot to do with Coinbase's development roadmap.

For emerging things like Bitcoin, especially new things related to finance, how to comply with regulation and compliance is an eternal topic. Different from the crazy expansion of other trading platforms, Coinbase chooses to develop steadily and first solve the problem of compliance. Brian Armstron decisively chose to cooperate with the government, and introduced the New York Stock Exchange and some large bank institutional investors to invest. With the support of these large institutions, Coinbase quickly obtained the formal license of the Bitcoin trading platform issued by the New York Department of Finance, thus becoming the first Bitcoin exchange in the United States to hold a formal license. Coinbase completed the compliance process in a very short period of time, demonstrating the vision and wisdom of founder Brian Armstron.

After solving the major problem of compliance, Coinbase was finally able to flex its muscles lightly. Since then, Coinbase has started a road of rapid development. In 2016, the number of Coinbase users was only 4.7 million. By 2017, the number reached 13.3 million, a nearly three-fold increase in one year. Subsequently, Coinbase acquired the paid messaging platform Earn.com for $100 million. Earn is also an information company with a background in cryptocurrency. Users can obtain digital currency by forwarding emails or completing some tasks through the Earn platform. Earn, formerly known as 21.co, originally developed chips and hardware for cryptocurrency mining.

After several years of rapid development, Coinbase has ushered in the next milestone - listing on NASDAQ. On April 14, 2021, with the ringing of the NASDAQ bell, another milestone event in the encryption world landed. Coinbase Class A common stock began trading on the Nasdaq Global Select Market under the ticker symbol "COIN." On the first day of listing, Coinbase stock was sought after by institutional and individual investors. The highest price was 429 US dollars, the closing price was 328 US dollars, and the total market value exceeded 65 billion US dollars. Coinbase once again created a miracle, becoming the first company in the encryption world to successfully go public directly, and at the same time opened up a new development route for companies in the cryptocurrency industry.

The successful listing of Coinbase has justified the name of the cryptocurrency industry, indicating that the previous conflicts between the traditional financial market and the cryptocurrency market are not irreconcilable, and the cryptocurrency market can be integrated with the traditional financial market to make up for each other's shortcomings. For Coinbase itself, after being listed, it can obtain a steady stream of cash flow, which can be used for technology research and development and market development, and it will have an advantage in the future global market competition.

Of course, for Coinbase, Nasdaq is by no means the end, but a new beginning. After completing a successful listing, Coinbase has accelerated its pace of globalization. Coinbase CEO Brian Armstrong tweeted on July 3 that Coinbase is building an office in India. We all know that there is a lot of uncertainty in India's current attitude towards the cryptocurrency market. In March this year, it was rumored that India would completely ban cryptocurrencies. In such an environment, Coinbase still decided to deploy in India, which shows that Brian Armstrong is full of confidence in the future Indian encryption market. This is another market that Coinbase has opened up in Southeast Asia after entering Japan in 2018, and it is also an important step in its global expansion.

Along with the rapid expansion, Coinbase's ambitions have also been exposed. Brian Armstrong said the exchange plans to list all crypto assets as the law allows. We have already realized that the pace of listing coins on Coinbase is accelerating, which means that any digital currency has the opportunity to be listed on Coinbase. In the future, Coinbase will cover most virtual currencies and can meet the trading needs of any user. This is undoubtedly bad news for competitors in the same industry. For users, if they can choose, most people will choose a platform like Coinbase.

In the current international environment, although a few countries have shown a very friendly attitude towards Bitcoin, most countries remain cautious and even maintain high-pressure supervision of multiple cryptocurrency trading platforms. Under such a high-pressure policy, the business of many platforms has been severely frustrated, and some have directly announced their closure. Now looking back at the development of Coinbase, the founders chose to solve the compliance problem first, which was the most forward-looking and the most correct choice.

Now, while other cryptocurrency trading platforms are hampered by compliance issues and can't take care of themselves, Coinbase is reaping the benefits of fishing and ushering in a sharp increase. As one ebbs and the other, Coinbase’s dominance continues to strengthen, step by step, and eventually it will become the Nasdaq of the cryptocurrency world.