Coinbase executive says firm not worried by wall street crypto push

A senior Coinbase executive stated that the company welcomes competition from traditional financial institutions in the crypto space. She emphasized the unique strength of the industry's grassroots community during global advocacy events.

Katie Harries, Coinbase's head of Policy for Europe, told CoinDesk that the exchange is unconcerned by growing involvement from Wall Street firms. “We have always said that a rising tide lifts all ships,” she said, adding that Coinbase is “not at all” worried about the trend.

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Illustration depicting Morgan Stanley's application for a crypto custody bank charter, blending Wall Street banking with digital assets.
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Morgan Stanley applies for national bank charter for crypto custody

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Morgan Stanley has filed for a national trust bank charter with the Office of the Comptroller of the Currency to provide cryptocurrency custody services to institutional clients. The application, submitted on February 18, aims to position the Wall Street giant as a direct competitor to crypto-native custodians. This move reflects a broader trend of traditional banks expanding into digital assets amid a more favorable regulatory environment.

Coinbase has evolved from a traditional cryptocurrency exchange into a broader crypto infrastructure provider, according to an analysis by The Motley Fool. This shift positions the company as a potential investment opportunity that Wall Street may be ignoring amid the focus on tech stocks.

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Strike CEO Jack Mallers has rejected the notion that Wall Street endangers Bitcoin. He described the digital asset as money for all and insisted it must stay open and accessible to succeed.

Coinbase announced a restructuring plan on May 5, 2026, cutting about 700 employees, or 14% of its workforce. CEO Brian Armstrong attributed the move to cryptocurrency market volatility and artificial intelligence-driven productivity gains. The changes aim to create a leaner, AI-native organization ahead of Q1 earnings on May 7.

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In the latest on the stalled Digital Asset Market Clarity Act, former CFTC Chair Christopher Giancarlo argues banks require regulatory clarity more urgently than crypto companies for digital payments. The bill remains deadlocked over stablecoin rewards after missing a March 1 White House deadline, amid banks' fears of capital flight.

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