When the CEO Contradicts Himself. Coinbase and the GENIUS Act | Trust Issues 005
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Brian Armstrong tweets that the GENIUS Act is a red line. Two weeks later, he tweets that America is missing the forest for the trees by not paying interest on stablecoins. Those two positions cannot coexist.
Emily, Alex, and Lindsay pick it apart. The GENIUS Act prohibits issuers from paying yield directly to holders. Coinbase, as a third-party platform, sits in the exact sweet spot that rule creates. So when Armstrong says don't touch Genius and also says we need yield-bearing stablecoins, the math does not add up.
The crew walks through what happens when…
The skinny
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