- Haliey Welch says she only lent her name to HAWK, denying any control over the project’s launch or operations.
- She claims she was misled by the team, lacked crypto knowledge, and trusted the wrong people.
- After the crash and backlash, Welch was cleared by authorities and now warns others to avoid similar ventures.
Coinbase CEO Brian Armstrong believes Bitcoin is a viable alternative that helps to stabilize the US economy. In his latest post on X, Armstrong noted that the cryptocurrency helps to control US inflation.
According to Armstrong, Bitcoin is a check and balance on inflation, serving as an outlet for capital whenever spending gets out of hand. Armstrong adopted the idea that competition benefits customers, stating that the same applies in the money market, enabling Bitcoin to serve as a tool to preserve dollar dominance.
Armstrong made his position on Bitcoin’s relevance to the US dollar known following news that the US national debt has reached a new all-time high of $39 trillion. This has led to increased government spending, which surged to over $3.4 trillion for the fiscal year.
Related Article: Why Bitcoin Has Not Acted as a Traditional Hedge During Conflicts, Inflation, and Tariffs
Bitcoin is Stable Despite Crashing US Stocks
Notably, the surging national debt is compounded by the ongoing war in Iran, which is also taking a toll on US stocks. As of Saturday morning, the S&P 500 dropped 1.51% to 6,506.48, its lowest close in 2026, while the Dow fell 1% to 45,577.47, and the Nasdaq slid 2.01% to 21,647.61. The unfolding events also caused Tech giant stocks to plunge, with Nvidia, Meta, and Tesla leading in the losses amid disrupted energy supplies from the ongoing crisis.
It is worth noting that Bitcoin has remained relatively unshaken since the war began, maintaining its range-bound movement between $65,000 and $75,000. The cryptocurrency has manifested substantial stability amid the global market chaos, serving as an alternative outlet for investors’ capital amid uncertain economic developments.
Aside from maintaining a stable price range, many analysts expect Bitcoin to break above resistance as bullish momentum increases. The cryptocurrency’s behavior reflects ongoing accumulation, suggesting a capital influx triggered by investors’ search for safety amid surging inflation in the mainstream sector.
Related Article: Bitcoin Leads Recovery as Ether, XRP Lag Amid Oil Price Decline
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Source: https://coinedition.com/bitcoin-is-a-check-and-balance-on-inflation-says-coinbase-ceo-brian-armstrong/
