🚨 COINBASE CEO: REOPENING GENIUS ACT IS “RED LINE”
Coinbase CEO Brian Armstrong warns that reopening the GENIUS Act is a “red line”, criticizing banks for lobbying Congress.$NEAR
🧠 Core details:
• Armstrong accuses banks of blocking competition from stablecoins and fintech platforms
• GENIUS Act impacts crypto innovation and regulatory landscape
• Coinbase positions itself as a defender of open financial competition
📌 Key points:
• Highlights tension between legacy banks and crypto players
• Suggests potential regulatory standoff in Washington
• Could influence future stablecoin adoption and fintech growth$LINK
⚖️ Why this matters:
• Signals crypto industry pushback against restrictive lobbying
• Reinforces the role of stablecoins and fintech as competitive forces
• May shape policy decisions impacting market access
🌐 Big picture:
Armstrong’s statement underscores the battle over regulatory control and the push for a more open, competitive financial system.$AT
📊 Takeaway:
Red lines drawn.
Whales and investors are watching Washington closely.