Smash Notes

Back to Coinbase’s Everything Exchange: Agentic Finance, Stablecoins, and Tokenization with CEO Brian Armstrong, with Brian Armstrong.

How Does Coinbase's Coding Agent Learn From Code Reviews?

Brian Armstrong says Coinbase's internal agent harness, Toshi, reads a markdown brain for a service, makes the code change, and sends review fixes back into the brain so the accept rate for one-shotted pull requests starts to tick up.

The brain holds the incidents on the service, the financial controls that must be enforced, every A-B test the team has run, and the full GitHub history of pull requests accepted or rejected. The files are markdown. A person asks the agent for a change. It ingests the brain and makes the change. If review finds a miss, the fix goes back into the brain instead of a one-off manual edit, so future cases improve too. Coinbase is trying to enforce the step in its software factory. Toshi can call external vendors and pay them over x402 protocols in the agentic finance economy.

Earlier the same day, he asked a high-end expensive model to plan a complex feature in three phases of 10 pieces each, then to run phase one with 10 agents in parallel and recommend cheaper models when they fit. It spun up open source agents and Grok. Two minutes before the podcast, it pinged him that all 10 pieces from phase one were done and ready for review. He used to ping the team in Slack all day. Now he tags an agent in Slack or drops the request into the harness and sends a finished pull request, which lets the CEO ship features again.

Grokipedia·Coinbase·Brian Armstrong

Transcript

Coinbase’s Everything Exchange: Agentic Finance, Stablecoins, and Tokenization with CEO Brian Armstrong ·

No Priors: Artificial Intelligence | Technology | Startups

More from this episode

  1. What Is Coinbase's Everything Exchange?Brian Armstrong says Coinbase's everything exchange is one place to trade every asset class, with stocks, commodities, crypto, derivatives, perpetual futures…
  2. Why Don't Card Fees Work for AI Agent Payments?Brian Armstrong says a debit or credit card's typical minimum is about a 30-cent flat fee plus a percentage, so it does not really work for anything under a…
  3. What Share of Coinbase Revenue Is non-Bitcoin Trading?Brian Armstrong says the recent earnings deck holds the only numbers he is probably allowed to discuss, and 88% of Coinbase revenue is from non-Bitcoin trading.
  4. Can Prediction Markets Help Choose Government Policy?Brian Armstrong says a prediction market can help choose a government policy by asking what the unemployment rate would be in one year, two years, and three…
  5. Why Did Brian Armstrong Start New Limit?Brian Armstrong started New Limit because he saw few great teams in longevity and thought a lot of the field was snake oil.
  6. What Has New Limit Reprogrammed in Mice?Brian Armstrong says New Limit has reprogrammed at least one human cell type in humanized mouse models.
  7. What Are Freedom Cities?Brian Armstrong says Freedom Cities would set aside 10 or 100 square miles of federal land so builders can skip ordinary permits and test nuclear power, drug…

People

More answers like this

More with Brian Armstrong

More with Elad Gil

Related episodes

Plays from this note through the rest of the episode.

Weekly highlights

One letter a week.

The notes worth hearing, with the minute they were said.