PANews reported on December 4th, citing Bloomberg, that Coinbase CEO Brian Armstrong stated at the New York Times Dealbook Summit that several major banks are collaborating with Coinbase to pilot crypto projects related to stablecoins, custody, and trading, although he did not disclose the specific banks' names. Armstrong emphasized, "The best banks will accelerate their deployments, and the opponents will be eliminated." During the summit, BlackRock CEO Larry Fink also stated that Bitcoin has significant uses, noting that $4.1 trillion is held in global digital wallets, and asset tokenization will facilitate the more efficient circulation of these funds.