Overview

• After days of meetings in Washington, the Coinbase CEO called the bill a “freight train” and said he sees a strong chance of passage.
• Armstrong said lawmakers are exchanging draft text and that industry executives are reviewing and commenting on provisions.
• Executives from Ripple, Kraken, Circle, and Cardano joined discussions alongside venture firms a16z, Multicoin Capital, and Paradigm.
• He urged supporters to enroll in Stand With Crypto so they can contact representatives as the bill advances.
• Armstrong said banking groups are pushing to ban stablecoin rewards, while senators he met signaled resistance to that move; the GENIUS Act already bars issuers from paying yields directly but may leave room for intermediary rewards.