Coinbase CEO Stunt Exposes Vulnerability in Prediction Markets

Brian Armstrong

Photographer: Stefan Wermuth/Bloomberg

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When Coinbase Global Inc.’s quarterly earnings call wrapped up Thursday, its chief executive, Brian Armstrong, didn’t finish with profit guidance or statements of confidence. He closed it out with a list: “Bitcoin, Ethereum, blockchain, staking and Web3.”

Those weren’t random buzzwords. They were part of an $84,000 betting market.

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