Coinbase and Wall Street had some drama at Davos. Apparently, JPMorgan Chase’s Jamie Dimon did not take kindly to Coinbase CEO Brian Armstrong accusing them of ruining the Clarity Act.
“You are full of s—,” said Dimon, a longtime crypto skeptic who previously called bitcoin a fraud, his index finger pointed squarely at Armstrong’s face. Dimon, in a nutshell, told him to stop lying on TV, according to people familiar with the conversation.
Coinbase and Wall Street clashed at Davos as Jamie Dimon confronted Coinbase CEO Brian Armstrong about the Clarity Act. Dimon challenged Armstrong’s portrayal of the policy and urged him to stop misrepresenting it, according to people familiar with the conversation. The moment underscored the ongoing tension between traditional banks and crypto firms over regulatory clarity.
Armstrong defended Coinbase’s stance, while Dimon pressed for accuracy in public remarks. The exchange highlighted the crypto industry’s regulatory risk as investors and policymakers watch Davos for signals on future policy.
Analysts see Davos as a high-profile stage for the ongoing debate over regulatory clarity in crypto markets. The encounter underscores the stakes for exchanges, investors, and policymakers as the Clarity Act’s interpretation remains contested.
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