Coinbase's (COIN) Brian Armstrong was snubbed by top executives from the biggest U.S. banks in Davos: WSJ
Coinbase CEO Brian Armstrong faced icy receptions from top U.S. bank executives in Davos regarding crypto legislation.Summary
Coinbase CEO Brian Armstrong reportedly faced harsh dismissals from leaders of major U.S. banks, including Jamie Dimon of JPMorgan Chase, Brian Moynihan of Bank of America, and Charlie Scharf of Wells Fargo, during meetings at the World Economic Forum in Davos. The frost stems from a dispute over the crypto market structure bill, the CLARITY Act, particularly concerning stablecoin rewards which Armstrong supports but banks view as a threat to their deposit-based models. While Armstrong has publicly opposed the bill as written, arguing banks are lobbying to protect their turf, the conflict highlights a battle over who will set the regulatory terms for digital finance's next phase, despite existing partnerships between Coinbase and some of these very banks.
(Source：CoinDesk)