You won’t believe who just bought Logan Paul’s Pokemon Card 🚨
• Sold for $16,492,000
• Rugged Crypto Zoo
• Rugged Liquid Market Place
Launching new venture…. What could go wrong? 🤷♂️
🚨 BREAKING: They finally admitted it.
Paul Grewal (Coinbase) didn't mince words: Banks aren't fighting crypto to protect the community.
They are fighting to drag us back to a world where they keep ALL the profit.
The data? Zero.
The distraction? Real.
The future isn't institutional hoarding. It’s freedom.
Listen to this. 👇
Coinbase pushing back didn’t surprise me.
What did stand out was Armstrong saying the quiet part out loud: banks don’t want competition.
If banks can lend, but crypto firms can’t, that’s not regulation - that’s protection.
Today’s Senate meetings matter because this has stopped being “crypto vs regulators.”
It’s banks vs onchain finance.
And whoever wins decides who gets to offer financial products next cycle.
THIS IS A THREAT TO THE STATUS QUO
Brian Armstrong didn’t dance around it -- banks aren’t pushing back because of “stability.” They’re pushing back because of competition.
The average U.S. savings account pays ~0.14%. Stablecoins can pay ~3.8%, fully reserved, backed by short-term Treasuries. No fractional reserve games.
Armstrong’s point was straightforward: Congress shouldn’t let incumbents tilt the rules to kill challengers.
Set clear rules, let banks and crypto compete & let consumers choose.
That’s exactly why this bill is so contentious. 💯
D.C. UPDATE: 🇺🇸 Coinbase CEO Brian Armstrong speaks on his concerns with the crypto market structure bill saying, "I'd rather have no bill than a bad bill."
He later warned, "it's not great if the banks can put their thumb on the scale to try to kill some of their competition."
NEW: Coinbase CEO says banks are trying to "kill their competition" with the crypto market structure legislation 👀
"Crypto companies should be allowed to compete and offer loans just like banks."
I'm sure there's a more artful way to describe it. But denying stablecoin users the chance to earn rewards–like everyone else already does--is nuts. When some talk about "deposit flight," understand that is bank lobbyist speak for competition. Thx @paulbarron.
THIS IS WHY THE BILL IS REALLY STUCK
Mike Novogratz was pretty blunt about what’s slowing the crypto market structure bill. He says both parties want a bill. That part isn’t the problem.
The real friction is BANKS -- especially around stablecoins.
Right now, big banks pay savers basically nothing (~1–11 bps) while earning 3.5–4% parking deposits at the Fed. Stablecoins threaten that spread. If consumers can earn yield elsewhere, deposits move -- and banks make less.
That’s why this is such a lobbying fight.
Let stablecoins compete, and banks either lose deposits or have to pay consumers more. That’s the trade-off lawmakers are wrestling with.
So yes, this is about SEC vs CFTC. But underneath, it’s about who gets to keep the economics of your money.
That’s why this bill is harder than it looks. 👀