My
@coinbase
Q3 Revenue Prediction:
Me: 1.687B
Wall Street: 1.77B
Disclaimer: This is NOT financial advice, but here’s how I did it 
https://t.co/JbygqSE5iD
After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.
There are too many issues, including:
- A defacto ban on tokenized equities
- DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy
- Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC
- Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition
We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft.
We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.
I’ll be working at Coinbase this summer on the Base team! It’s funny thinking how the past few years, I’ve been on the outside building on Base, hacking, and tackling Coinbase bounties, and now I’ll be building from the inside.