Coinbase, JPMorgan CEOs Spar Over U.S. Market-Structure Bill at Davos
Brian Armstrong used a media tour around the Davos forum to confirm Coinbase was pulling its support for a major U.S. market-structure crypto bill, a move that sources say led to a reported exchange with JPMorgan CEO Jamie Dimon on the sidelines. The dispute drew attention because it publicly exposed divergent industry views at one of the year’s most watched policy gatherings and amplified scrutiny of the legislation’s prospects.
Why it matters: a split between a leading crypto exchange and a major bank could reshape lobbying dynamics and slow consensus on regulatory language that affects trading, custody and market access. With U.S. lawmakers watching, the episode increases uncertainty for firms and investors tracking the bill’s path through Congress and may prompt fresh rounds of negotiation among industry stakeholders.