Coinbase CEO Calls for Banks to Adapt or Face Obsolescence

Coinbase CEO Brian Armstrong issued a stark warning to traditional financial institutions at the New York Times DealBook Summit on December 3, 2025, urging them to embrace stablecoins and innovative financial infrastructure. He emphasized that failing to do so risks leaving banks behind in a rapidly evolving digital landscape. As the divide between Wall Street and the cryptocurrency industry widens, Armstrong highlighted Coinbase’s pilot programs with major U.S. banks, focusing on stablecoin payments, crypto custody, and trading services. This indicates a significant shift in how institutions are engaging with digital assets.