Coinbase Power Play Sparks Crypto Rift as Key Bill Gets Delayed

Coinbase’s Brian Armstrong still sees a path for the US to pass comprehensive crypto legislation even after helping to derail a bill last week. Armstrong spoke with Bloomberg’s Emily Chang at Bloomberg House in Davos on the sidelines of the 2026 World Economic Forum.Source: Bloomberg

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By Emily Mason and Olga Kharif

January 23, 2026 at 11:00 AM UTC

It was a rare White House rebuke to the crypto industry: Don’t take your newfound political muscle in Washington for granted.

A week after Coinbase Global Inc. Chief Executive Officer Brian Armstrong helped stall sweeping cryptocurrency legislation in the Senate, White House crypto adviser Patrick Witt took to X to express his displeasure with Armstrong’s assertion that no bill is better than a bad one. “You might not love every part of the CLARITY Act, but I can guarantee you’ll hate a future Dem version even more,” Witt wrote.