Brian Armstrong helped take crypto out of its niche bubble and into the mainstream. I respect what Vlad is doing. He is bringing massive distribution to crypto, validating that the future of finance is onchain and forcing real competition. But I would never short Brian Armstrong. Coinbase has taken big swings, including Base and socialfi. Some bets work, others do not and when it fails it hurts everyone. But I would much rather see Coinbase swing big with onchain just as it did in 2012 when crypto was just Bitcoin. When moonshots fail it hurts everyone, the users, the brand and the founders building on it. But if we are all looking for the next 100x in growth, I would much rather swing big, fail, learn and swing big again than playing it safe. In a world where every company is competing for every user nothing should be left unturned. And I respect Coinbase for going all in on Base + onchain extremely early on. With Cobie leading trading, Jesse with Base, and Brian focused on making Coinbase the defacto finance platform for every asset to me the company feels more focused than ever. Vlad is an exceptional competitor and that competition will make Coinbase sharper. I want Coinbase to win. We all should. Brian and the Coinbase team spent years of blood, sweat, and tears making crypto legit, even when most of the world turned its back on us.