Coinbase CEO Garners Praise, Pushback for Prediction Market Shoutouts in Earnings Call

Coinbase CEO Brian Armstrong caused a stir during the company's Q3 earnings call by mentioning specific terms like 'blockchain', 'staking', and 'Web3', which had been bet on in prediction markets. This unexpected announcement brought joy to some prediction market users who had wagered on these words. Armstrong described the moments as spontaneous and intended for fun, following a team member sharing a link to the market in the chat. However, reactions were mixed; while some praised the CEO's engaging style, others accused him of market manipulation, calling it unprofessional. Ethereum founder Vitalik Buterin defended Armstrong's actions, suggesting he meant no harm and intended to bring some fun to the meeting. Despite the buzz, trading volumes for the markets affected were relatively low, indicating limited impact on broader financial outcomes.

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