Coinbase CEO Urges Congress to Pass GENIUS Act for Stablecoin Clarity
Coinbase CEO Brian Armstrong is ramping up efforts to push U.S. lawmakers to approve the bipartisan GENIUS Act, emphasizing its importance for regulatory clarity in the stablecoin market. Armstrong warns that without prompt action, the U.S. risks falling behind in the global crypto race. The bill is designed to foster innovation while mitigating systemic risks, positioning the U.S. as a leader in the cryptocurrency sector. This development comes as the crypto industry seeks clearer guidelines to navigate the evolving regulatory landscape.
Coinbase CEO Brian Armstrong Calls on Congress to Approve GENIUS Act, Warns of Crypto Risks
Coinbase CEO Brian Armstrong is intensifying pressure on U.S. lawmakers to pass the bipartisan GENIUS Act, framing it as a critical step for regulatory clarity in the stablecoin market. The bill aims to position the U.S. as a leader in crypto innovation while addressing systemic risks.
Armstrong’s urgency stems from concerns that without decisive action, the U.S. risks ceding ground to global competitors. The GENIUS Act proposes a framework for stablecoin oversight that balances consumer protection with industry growth potential.
Political resistance to the bill appears rooted in broader debates about cryptocurrency oversight. Some legislators remain wary of creating tailored regulations for digital assets, preferring to extend existing financial rules to the sector.
Coinbase Sponsors Riot Games’ Esports Events for League of Legends and Valorant
Coinbase has secured a sponsorship deal with Riot Games, becoming an official partner for the studio’s global esports tournaments in League of Legends and Valorant. The collaboration kicks off next month with two high-profile events in Canada: the Valorant Masters in Toronto on June 7, followed by the MSI 2025 tournament in Vancouver from June 27 to July 12.
David Mulhall, Riot Games’ global head of esports partnerships, described Coinbase as a "perfect addition" to their brand roster, emphasizing the crypto exchange’s ability to deliver engagement features valued by the esports community. This move signals growing institutional crossover between crypto and gaming ecosystems.
The partnership arrives amid ongoing debate within gaming communities about cryptocurrency integration. League of Legends fans, like many gamers, remain divided on blockchain technology’s role in their ecosystem—a tension that could either limit or amplify the sponsorship’s impact depending on execution.
