Editor's PiCK
Coinbase CEO Rebuts Reports of White House Anger: "Not true...We’re working constructively"
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Summary
- CEO Brian Armstrong said reports that the White House is furious with Coinbase and could withdraw its support for the Clarity Act are not true.
- Armstrong said the White House asked him to explore the possibility of an agreement with the banking industry, and that he is preparing ideas to support local community banks.
- Host Eleanor Terrett countered that her reporting on the White House’s request to conclude yield negotiations was accurate, adding that whether the White House offers support appears to hinge on those negotiations.
Amid reports that the White House is furious with crypto asset (cryptocurrency) exchange Coinbase and could therefore withdraw its support for the market-structure bill known as the “Clarity Act,” Brian Armstrong, Coinbase’s chief executive officer (CEO), has flatly denied the claim.
On the 18th (Korea time), Armstrong responded to a post by Eleanor Terrett, host of Crypto America, saying, “This is not accurate,” and adding that “the White House has been very constructive on this issue.”
Armstrong said it is true that the White House asked him to explore the possibility of reaching an agreement with the banking industry, and that discussions are currently under way to that end. “Since this bill concerns local community banks, we are coming up with good ideas that can support them,” he said.
Earlier, Terrett reported that the White House, angered after Coinbase publicly opposed the Clarity Act without presenting a bank-friendly “interest income agreement,” was considering withdrawing its support for the bill.
In response to Armstrong’s comments, however, Terrett pushed back, saying, “My reporting was airtight and accurate. Isn’t it true the White House asked Coinbase to conclude a yield negotiation?” She added, “It now appears whether the White House supports it depends on that negotiation.”
