As the crypto market heads toward another Bitcoin halving expected to trigger a bull market, crypto founders are gearing up to start launching their startups in a more profitable climate. If you are one of these startup founders interested in crypto, Coinbase CEO Brian Armstrong has outlined 10 ideas that would lead to profitable businesses.
10 Startup Ideas Brian Armstrong Wishes He Could Build
In a recent Ventures Summit organized by the Coinbase crypto exchange, founder Brian Armstrong took to the stage to share the 10 ideas that are currently fascinating to him today. The response was to a question that asked the CEO which crypto startups he wished he could build today.
Despite being a crypto exchange founder, Armstrong’s interests sprung far and wide across the industry. The list ranged from tokenized real-world assets all the way to on-chain ads. The total list, according to the founder includes:
Flatcoin (a form of money enabled by crypto), on-chain reputation, on-chain ads, on-chain capital formation, job/task marketplace for crypto, privacy for Layer 2 blockchains, on-chain P2P exchange, on-chain gaming, software to start and manage network states, and finally, tokenized real-world assets.
Armstrong’s comments come ahead of the Builder Summit that Coinbase is hosting in October and the founder has issued an open invite for project founders to apply to attend the summit. He further explained that while he is interested in the ideas listed above, builders with products outside of these are also welcome to apply for the summit.
“Note: Coinbase Ventures has and continues to invest in startups working across many of these themes, several of which are referenced below (non-exhaustive),” the blog post read.
Coinbase Moving Forward In Face Of Adversity
Coinbase has been one of the targets of the United States Securities and Exchange Commission (SEC) in its clampdown against the crypto industry. The regulator sued the exchange alongside competitor Binance in early June for allegedly violating securities law as it believes some of the tokens traded on the exchange qualify as securities.
However, Coinbase has not taken this lying down as the exchange has fought back. On August 4, the exchange filed a motion to dismiss the SEC’s lawsuit as it does not operate under its jurisdiction because the assets traded on its platform are “commodity sales.”
The crypto industry has also rallied behind Coinbase with the likes of US Senator Cynthia Lummis publicly backing the exchange against the SEC. Another prominent addition to this list is legal expert and former SEC employee Jake Chervinsky criticizing the regulator’s actions which he believes have led to the “destruction” of crypto investors’ portfolios.
Total market cap drops to $1.065 trillion | Source: Crypto Total Market Cap on Tradingview.com