Coinbase Global (COIN) CEO Brian Armstrong says the cryptocurrency exchange he runs is “misunderstood” by investors.
Armstrong, who also co-founded Coinbase, took to social media to fire back at crypto bears and critics of his trading platform.
In several online posts, the CEO described what he called Wall Street’s persistent underestimation of Coinbase.
Armstrong argued that his company is dealing with a classic “innovator’s dilemma” as traditional finance grapples with digital asset disruption.
He wrote that Coinbase is often “misunderstood or under-appreciated” by traditional financial analysts and many investors.
Armstrong also said that banks and Wall Street firms view digital assets as a competitive threat, comparing crypto to disruptions caused by Uber, Airbnb and SpaceX.
The comments and criticisms come with COIN stock down 30% this year as prices for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies crash.
As might be expected, Armstrong’s comments drew sharp responses from other social media users, many of whom accused the Coinbase CEO of whinging.
One critic argued that Coinbase appears misunderstood because Armstrong continues selling shares in the company, questioning why investors should hold the stock if the CEO doesn’t.
Another user on social media asked: “Why aren’t you buying your own stock then if it is so misunderstood?”
Between April 2025 and January 2026, Armstrong sold 1.5 million shares of COIN stock, generating $550 million U.S. in proceeds.
Armstrong didn’t comment on his stock sales but said that Coinbase’s shares are undervalued by traditional metrics.
Coinbase’s stock is currently trading at $165.94 U.S. per share, having declined 52% over the last five years.
