'He’s Full of Shit': JP Morgan's Jamie Dimon Takes Aim at Coinbase CEO Over Clarity Act
Summary
Jamie Dimon sharply criticized the Clarity Act and Coinbase CEO Brian Armstrong, saying banks will fight the bill and “not accept it that way.” He accused Armstrong of spending heavily in Washington and called him “full of shit.” The main dispute is stablecoin yield: banks want to block crypto platforms from paying rewards on stablecoins, while Coinbase and other exchanges want to keep that ability. Dimon argues that if crypto firms want bank-like powers, they should become banks and follow bank rules. The bill has been delayed by this fight but recently passed a key Senate committee vote and now heads to the Senate floor. President Trump still supports advancing the legislation.
