Coinbase, the Biggest U.S. Crypto Company, Asserts Its Power in Washington
The New York Times • • business
Key Points:
- A major cryptocurrency bill in the Senate was set for a committee vote after months of negotiations but was abruptly canceled following opposition from Coinbase's CEO.
- Brian Armstrong, CEO of Coinbase, publicly stated that the bill in its current form was worse than existing regulations and expressed a preference for no bill over a flawed one.
- The cancellation highlights Coinbase's significant influence in Washington and the growing power of the crypto industry under the Trump administration.
- Typically, moderate lawmakers determine the outcome of such votes, but Coinbase's stance was pivotal in halting the legislative process this time.
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