Coinbase CEO refutes report of White House dropping support for CLARITY Act

Coinbase CEO Brian Armstrong stated on Sunday via X that a report from Eleanor Terrett claiming the White House was withdrawing its support for the crypto market structure bill, known as the CLARITY Act, is inaccurate. Armstrong described the White House as being constructive, adding that it had asked Coinbase to explore whether a consensus could be reached through negotiations with banks. He noted that Coinbase is currently working toward this goal and is considering how the market structure bill could help regional banks, which he called a core component of the legislation. Previously, Terrett, a host at Crypto in America, cited an anonymous source who claimed the White House felt Coinbase's withdrawal of support for the bill was done without prior notice and amounted to an act of betrayal against both the administration and the crypto industry. In response to Armstrong's post, Terrett maintained that her reporting was accurate.