Coinbase CEO denies White House clash, says negotiations are ongoing

Coinbase CEO Brian Armstrong said the industry is working on several ideas to help community banks in the CLARITY market structure bill.

Brian Armstrong, the CEO of crypto exchange Coinbase, denied reports that the White House is considering pulling support for the CLARITY Act, a crypto market structure bill, and also denied rumors that the administration is “furious” with Coinbase.

“The White House has been super constructive here. They did ask us to see if we can go figure out a deal with the banks, which we're currently working on,” Armstrong said. 

On Friday, independent journalist Eleanor Terrett reported a clash between Coinbase and the administration of US President Donald Trump, with the White House threatening to withdraw support for the market structure bill if Coinbase did not resume negotiations.

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