Here we go again! The WSJ is working on a story blaming Coinbase and me personally for the CLARITY Act not passing.
The Journal has repeatedly been hostile to CLARITY in its reporting, regurgitating bank lobby talking points, while I’ve spent years pushing for crypto legislation, but that’s not stopping them from trying to reverse the blame.
The boring TLDR: in January I opposed a draft of the bill going into a committee vote, because it needed a lot of work on DeFi, tokenization, CFTC authority, and stablecoin rewards. At the time, the bill had major issues that would have harmed crypto. Support was fractured, and it wasn’t passable. We worked with a number of parties who improved the bill and made it passable. All four of the items I called out were fixed in the draft that then went through the committee about four months later. I'm proud to have done it, and would do it again, because it helped create a better bill. One step of many along the way.
The final draft of CLARITY that went to the Senate was great, and I strongly supported it. I'll continue showing up for our customers and pushing for clear rules that treat crypto fairly, even if those who feel threatened by crypto try to plant false stories. It's a shame that the WSJ takes direction from bank lobbyists instead of reporting the truth, but luckily, people are smart enough to see through it these days, and it backfires on them every time.
Republican or Democrat, I don’t give a shit.
if you vote to block CLARITY from moving forward today, I’ll remember it when it’s my turn to vote.
America should be leading the future of finance, not watching it get built somewhere else.
The Democratic Party is a threat to crypto innovation. There is no choice, these Dem senators up for reelection in November must go.
Cory Booker — New Jersey
Chris Coons — Delaware
John Hickenlooper — Colorado
Ben Ray Luján — New Mexico
Ed Markey — Massachusetts
Jeff Merkley — Oregon
Jon Ossoff — Georgia
Jack Reed — Rhode Island
Mark Warner — Virginia
Understand no government, no institution, no entity can censor, corrupt, influence or confiscate public blockchains and blockchain assets in self custody.
The only power they have is over the dollar price of the assets, and they will use this to attempt to control the assets and the technology.
Same with AI. AI and crypto are the same. Only difference is AI has the appearance of being institutional. Wrong. Open Source LLMs are faster, better cheaper and will win. Same with open source blockchains.
Open Source will always win.
60% of Americans are paycheck to paycheck. We are already at risk.
This is the same person who says we shouldn’t have a debt limit, that it would cause 🥁 🥁 economic catastrophes. She is simple not for helping the American people.
Elizabeth Warren on the Senate floor as the CLARITY Act cloture vote plays out: "This bill would put us all at risk of a crypto-fueled economic crash."
The USA is in a debt cycle it cannot escape. It needs to revolutionize its financial technology in order to help change this trajectory. The industry begging for clarity and direction so that they can have durable solutions and build the future securely.
Embarrassing government.
I've been getting 4% back in BTC by using my Coinbase One card, but after last weeks price action, I've actually gotten >5% back. As BTC continues to climb, it'll have been 6%, then 7%... and so on.
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