Coinbase CEO Denies White House Rift, Says Support for CLARITY Act Remains Intact
Coinbase's chief executive just slammed the door on rumors of a political feud—while doubling down on a legislative push that could reshape crypto's regulatory landscape.
No Drama, Just Policy
The CEO's statement cuts through Beltway gossip, confirming the exchange's backing for the CLARITY Act hasn't wavered. This bill aims to carve out clear rules for digital assets—something the industry's been screaming for since the first Bitcoin pizza purchase.
Why This Matters Now
With regulatory uncertainty still the market's favorite bogeyman, a major player holding the line on legislation signals stability. It tells institutional money that the grown-ups are still in the room, trying to build guardrails instead of playing whack-a-mole with enforcement actions.
The Washington Two-Step
Public support for a bill while quietly navigating political tensions is classic corporate maneuvering. It's the financial world's version of smiling for the camera while your lawyer reads the fine print. After all, in D.C., what you deny today often becomes tomorrow's hearing.
The takeaway? Coinbase isn't backing down from the policy fight. Whether that translates to actual law—or just another line in a lobbying budget—remains to be seen. Welcome to crypto regulation, where the rules are made up and the points only matter if you're not getting sued.
Armstrong Pushes Back on White House Clash Claims
“The White House has been super constructive here,” Armstrong wrote on X, dismissing speculation of a breakdown in relations.
The comments followed a report from journalist Eleanor Terrett alleging a clash between Coinbase and the administration of Donald Trump, suggesting officials were unhappy with Coinbase’s decision to step back from the bill.
Coinbase withdrew its support earlier this week, arguing that the latest draft of the CLARITY Act could undermine decentralized finance, restrict tokenized stock trading, and block firms from sharing stablecoin yield with users.
Armstrong said the exchange WOULD rather see the bill delayed than passed in its current form.
He described several provisions as harmful to consumers and innovation, calling the draft “catastrophic” while expressing hope that lawmakers and the industry can reach a more workable compromise.
Coinbase has circulated a list of objections to the most recent version of the bill, focusing on its impact on DeFi and stablecoin-based products.
In general, love your posts, but this is not accurate. The White House has been super constructive here.
They did ask us to see if we can go figure out a deal with the banks, which we're currently working on.
Actually, we've been cooking up some good ideas on how we can help… https://t.co/t1bK48oRc0
Those concerns prompted the US Senate Banking Committee to postpone a planned markup of the CLARITY Act, giving lawmakers additional time to negotiate changes with industry participants.
Armstrong said he expects a revised version of the bill to return for consideration within the next few weeks.
The debate has exposed rifts within the crypto sector itself. Some executives argue the CLARITY Act would provide long-sought regulatory clarity, even with compromises, while others see it as a concession to traditional banking interests.
The sharpest divide centers on stablecoin yield, with critics warning that banning revenue sharing could stifle competition and limit consumer choice.
Crypto Regulation Turns Political
The past week underscored how crypto regulation has moved beyond technical rulemaking into a broader political struggle over institutional independence, enforcement power, and surveillance authority.
From central bank pressure to legislative gridlock, the policy environment around digital assets remains unstable and increasingly shaped by political dynamics.
That tension came into sharp focus after Jerome Powell publicly warned that a Justice Department probe tied to his congressional testimony risked undermining the independence of the Federal Reserve.
Meanwhile, momentum on federal crypto legislation slowed as the US Senate Agriculture Committee delayed markup of the Digital Asset Market Clarity Act amid unresolved disputes over DeFi, stablecoin yield, and regulatory jurisdiction.
Concerns deepened after Galaxy Digital warned that a Senate Banking draft could grant the Treasury sweeping “Patriot Act–style” powers, raising fears that aggressive surveillance authorities could chill innovation and push crypto activity offshore.
