Coinbase CEO Brian Armstrong has expressed confidence in the long-term prospects of the cryptocurrency industry despite recent market volatility. Armstrong noted that such fluctuations are not uncommon in the crypto sector, which has experienced multiple cyclical changes. He emphasized that the industry is rapidly transforming and replacing traditional financial services. Armstrong assured that regardless of market conditions, Coinbase will continue to develop its products and business operations, as he believes the global financial system is still in need of modernization.