Trump Met Privately With Coinbase CEO Before Blasting Banks Over Crypto Bill: Report

Benzinga04:32

Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong met privately with President Donald Trump at the White House on Tuesday, Hours later, Trump took to Truth Social and told banks they “need to make...

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Neither the White House nor Coinbase responded to multiple requests for comment from reporters. Crypto in America’s Eleanor Terrett confirmed a Coinbase delegation visited the White House the same day.The $6.6 Trillion Number Driving The FightBanks are not pushing back on stablecoins for philosophical reasons. That is roughly a third of all U.S. bank deposits.JPMorgan CEO Jamie Dimon reportedly told Armstrong he was “full of s–t” at Davos in January and to stop “lying on television” about banks sabotaging crypto legislation. On Monday, Dimon told CNBC that any firm holding balances and paying interest “should be regulated like a bank.”One day later, the president publicly sided with Armstrong.What Prediction Markets SayPolymarket bettors currently give the CLARITY Act a 71% chance of becoming law in 2026. Those odds have been volatile, crashing from 80% to 44% during a February Senate stalemate before recovering on renewed White House pressure.JPMorgan’s own analysts said last week that the bill could be approved by mid-year and would “reshape market structure” for crypto, even as the bank’s CEO publicly fights against it.COIN shares are up over 15% today and trading around $209. Why It MattersCoinbase generated roughly $1.3 billion in stablecoin-related revenue in 2025. If the CLARITY Act passes with yield-friendly language, that revenue stream could grow. If banks win the yield fight, it takes a direct hit.The political momentum is building fast. The Fairshake super PAC, funded largely by Coinbase, Ripple, and Andreessen Horowitz, holds $190 million for the 2026 midterms. That money gives pro-crypto candidates financial backing to side with the White House over the banking lobby. Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.To add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2617565704","isCrawlerRequest":true}