Coinbase Denies White House Standoff, Targets Stablecoin Compromise for CLARITY Act

Coinbase CEO Brian Armstrong publicly denied reports of a deepening rift with the White House over the CLARITY Act, characterizing the situation as "super constructive" collaboration. This followed reports that the administration was upset and might withdraw support unless Coinbase compromised on stablecoin yields to address regional banks' fears of deposit flight. Armstrong clarified that the White House tasked Coinbase with negotiating a solution specifically for community lenders regarding stablecoin rewards. Earlier, Coinbase had signaled it might withdraw support due to provisions banning tokenized stocks and restricting DeFi. Meanwhile, industry figures like Ripple CEO Brad Garlinghouse view the Senate's move as a significant step forward, though prediction markets on Polymarket currently price the bill's passage this year at only 41%.

(Source：BeInCrypto)