Summary
- Brian Armstrong, CEO of Coinbase, said he was reportedly given a cold reception by executives at major U.S. banks at the World Economic Forum (WEF).
- Armstrong said that tensions with some bank CEOs surfaced as he discussed the crypto market structure bill (CLARITY) with a number of Wall Street figures.
- The WSJ said the frosty mood emerged shortly after Coinbase withdrew its support for the digital-asset (cryptocurrency) market structure bill.
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Brian Armstrong, CEO of Coinbase, was reportedly given a cold reception by executives at major U.S. banks at the World Economic Forum (WEF) in Davos, Switzerland.
According to Walter Bloomberg, a breaking-news account, Armstrong discussed the crypto market structure bill (CLARITY) with a number of Wall Street figures during the Davos forum, and in the process tensions with some bank CEOs surfaced.
The Wall Street Journal (WSJ) reported that JPMorgan Chase CEO Jamie Dimon told Armstrong, "You're saying complete bullshit." Bank of America CEO Brian Moynihan was reported to have said, "If you want to be a bank, just be a bank."
Wells Fargo CEO Charlie Scharf refused to engage in the conversation, saying, "There's nothing to talk about," while Citigroup CEO Jane Fraser was said to have spoken with him for about one minute.
The WSJ said the frosty mood emerged shortly after Armstrong publicly took a hard-line stance on the digital-asset (cryptocurrency) market structure bill. Earlier, Coinbase withdrew its support for the legislation after taking issue with some provisions included in the bill.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
