Brian Armstrong, the CEO of Coinbase, has found himself in a social media trend flurry this week. Concluding the exchange’s earning call this week, Armstrong appeared visibly distracted. Upon realizing that his distraction was noticed by those attending the meeting, Armstrong just casually said he was checking Coinbase-related polls that were live on prediction markets at the time.
Polymarket and Kalshi are prediction market sites that have risen to popularity in recent times. Both have links to the crypto sector and allow users to place bids on real-life events ranging from markets to politics, entertainment, and sports among others.
“I was tracking the prediction market about what Coinbase will say on their next earnings call,” Armstrong reportedly told the earning call attendees. Following this, the 42-year-old playfully went on to rattle the words – Bitcoin, Ethereum, blockchain, staking, and Web3 – catering to the bidders on prediction markets on if these words would make it into Armstrong’s speech.
Many from the Web3 community took note of Armstrong’s actions. Some questioned if this could become the next big trend among company CEOs who could have an influential role in the markets.
Armstrong even responded to the buzz saying “it was fun” and that it happened because a team member sent him a link to the prediction market site.
It remains unclear if Armstrong was sneak-peaking into Polymarket or Kalshi.
Coinbase, in the third quarter that ended on September 30, registered a net income rise to $432.6 million, or $1.50 per share from $75.5 million, or 28 cents per share the previous quarter.