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Coinbase CEO Brian Armstrong pushed back on what he said was an upcoming Wall Street Journal report that would blame him and Coinbase for the failure of the CLARITY Act, saying on X the claim was false.
Armstrong said he opposed a committee vote on the bill’s draft in January because it included issues involving DeFi, tokenization, the Commodity Futures Trading Commission’s authority and stablecoin rewards. Coinbase publicly opposed that draft at the time, and negotiations over those provisions continued afterward. Armstrong said all four issues he had raised were later revised, and an improved version of the bill passed committee about four months later. He added that he strongly supported the final bill. Earlier, the CLARITY Act failed to secure 60 votes in a Senate procedural vote on Sept. 15, halting further progress.