June 2012
Coinbase founded
Brian Armstrong and Fred Ehrsam founded Coinbase in June 2012 — a regulated on-ramp that let users buy BitcoinThe first decentralized cryptocurrency — a proof-of-work blockchain without a central issuer. with bank accounts instead of peer-to-peerA network where participants connect directly as equals — no single central server is required. trades.
What it was for
Coinbase wrapped key custody, KYC, and fiat rails in a consumer app — the opposite of cypherpunk self-custody but the path most newcomers took. Its 2021 Nasdaq listing and later spot-ETF custody deals made it the face of mainstream crypto infrastructure in the United States.
People
- Brian Armstrong — co founder
- Fred Ehrsam — co founder
Why it's here
Coinbase became the default fiat gateway for US crypto adoption.
Why it mattered
It proved regulated exchanges could scale without running their own blockchains.
What it solved
Buying bitcoin required forum trades and technical wallet setup beyond most users.
Related
- Bitcoin genesis block minedJanuary 3, 2009
- First real-world Bitcoin purchaseMay 22, 2010
- SEC approves spot Bitcoin ETFsJanuary 10, 2024