According to online reports, Brian Armstrong, CEO of Coinbase, posted on platform X,"Every entrepreneur I know believes that the financing process is flawed. Why should capital formation (financing) shift on-chain? There are three reasons: higher efficiency: on-chain processes can be automated through smart contracts, reducing manual operations and intermediate links, and significantly shortening the financing cycle. It is fairer to both parties: rules are preset and disclosed through code to avoid interest tilt caused by information asymmetry and protect the equal rights and interests of entrepreneurs and investors. Transparency has been greatly improved: financing-related capital flows, equity/token allocations, agreement terms and other information can be checked online, reducing the risk of black-box operations."