Coinbase CEO Brian Armstrong proposed on January 26 that companies conduct public listings entirely on-chain. He argued current regulations incentivize high-demand firms to stay private longer. This limits early investment opportunities to a select few.
Armstrong suggested moving capital formation onto the blockchain. This move would simplify fundraising, unlock earlier price discovery, and broaden investor access.
This vision aligns with Armstrong's previous statements regarding the entire startup lifecycle. He aims to bring incorporation through public offering onto the blockchain. Armstrong believes easier and more transparent capital formation addresses weak price performance. This weak performance often occurs when companies go public after a long private phase.