Coinbase CEO: On-chain IPOs will significantly reduce costs, friction, and increase participation.

On January 26, Coinbase CEO Brian Armstrong stated, "We need to make it easier for private companies to access capital. Currently, companies are more incentivized to remain publicly listed for extended periods. Companies often remain private for years, with all profits flowing to private/credit investors. After going public, stock performance is typically poor because there is a lack of liquid markets to set reasonable valuations in the early stages of a company's lifecycle. Ultimately, companies will be able to complete the entire listing process on-chain, which will significantly reduce costs, friction, and increase participation. Hopefully, that day will come soon."