The Humbling of Coinbase

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Brian Armstrong, the chief executive of the largest cryptocurrency exchange in the United States, traveled across the world to make an announcement in early April: Coinbase was bringing crypto to India. In an auditorium in Bangalore, Mr. Armstrong, wearing a type of loose buttoned shirt popular in India, said Coinbase planned to set up a hub of 1,000 employees there by the end of 2022. The compan...

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