Coinbase CEO Brian Armstrong remains optimistic about the future of meme coins despite growing skepticism in the crypto industry.
In a recent post on X (formerly Twitter), Armstrong argued that meme coins are more than just internet jokes, calling them “a canary in the coal mine” for a future where everything—from artwork to user identity—is tokenized and stored on blockchain networks.
The Role of Memecoins in a Tokenized Future
While some believe the memecoin trend is fading, Armstrong takes a different stance. He acknowledged that many memecoins may seem silly or even problematic today, but he urged people to stay open-minded.
According to him, new technologies often start as novelties before becoming something much more valuable. He envisions a world where every digital asset, from social media posts to financial contracts, is tokenized and brought on-chain.
Though Armstrong himself does not invest in meme coins, Coinbase continues to list them, removing only those that are fraudulent or violate legal regulations. He emphasized that the exchange will allow customers to determine the value of different tokens rather than making those decisions for them.
Addressing the Risks and Legal Concerns
Despite his positive outlook, Armstrong acknowledged the risks associated with memecoins. Without naming specific projects, he pointed out that some have crossed ethical and legal boundaries. He warned that insider trading remains illegal and that those engaging in such activities could face prison time.
Armstrong also reaffirmed Coinbase’s broader mission: to bring the next billion users on-chain by offering useful and accessible crypto services. He believes blockchain can provide financial opportunities, reduce remittance fees, increase transparency, and even help entrepreneurs access capital. In this vision, memecoins may play a role in new creative and economic models.
Memecoins as a Launchpad for Talent
Armstrong’s belief that memecoins can evolve beyond speculation is already being proven in some cases. A recent example is Groowut, the creator of FWOG, a Solana-based memecoin focused on digital art. Groowut has now secured a position as the creative art lead at Yuga Labs, the company behind major NFT collections like Bored Ape Yacht Club and Cryptopunks.
Although FWOG’s market capitalization has dropped from its peak of nearly $700 million to around $67 million, its creator remains optimistic about the project’s future. In a statement, he expressed excitement about working with leading creatives in the NFT space.