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 support for the Clarity Act are not true.
- Armstrong said the White House asked Coinbase to explore the possibility of an agreement with the banking sector, and that it is working on ideas that could support local community banks.
- Host Eleanor Terrett said her reporting on the White House’s request for an interest income compromise and yield negotiations was airtight and accurate, adding that White House support appears to hinge on those talks.
Amid reports that the White House is furious with crypto asset (cryptocurrency) exchange Coinbase and could withdraw its support for the market-structure bill known as the “Clarity Act,” Coinbase CEO Brian Armstrong 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 Coinbase to explore the possibility of reaching an agreement with the banking sector, and that talks are under way to that end. He added that, because the bill concerns local community banks, Coinbase is coming up with good ideas that could support them.
Earlier, Terrett reported that the White House was considering pulling its backing for the Clarity Act out of anger after Coinbase publicly opposed the legislation without presenting an “interest income compromise” that would satisfy the banking industry.
However, in response to Armstrong’s comments, Terrett pushed back, saying, “My reporting was airtight and accurate. Isn’t it true that the White House asked Coinbase to conclude a yield negotiation?” She added, “It now appears the White House’s support hinges on those negotiations.”
