‘Uninformed FUD’ – White House on claims of Coinbase stalling the CLARITY Act again

ambcryptoPublicado a 2026-03-26Actualizado a 2026-03-26

Resumen

The White House has dismissed speculation that Coinbase is opposing the latest stablecoin yield deal and blocking the CLARITY Act, calling the claims "uninformed FUD." Patrick Witt, a digital asset advisor to the President, expressed confidence that the recent agreement between the Senate and the White House would revive momentum for the bill. Rumors of Coinbase CEO Brian Armstrong's opposition originated from a Punchbowl News report, though it was noted his stance was less severe than his previous public objections. The new deal limits stablecoin yields to account activity rather than passive interest earned via intermediaries, a change seen as favorable to banks. As of writing, neither the banking industry nor Armstrong had publicly commented on the compromise. Senator Cynthia Lummis emphasized the urgency of passing the bill under the current pro-crypto administration. Meanwhile, the proposed yield restrictions caused Circle's stock (CRCL) to drop 20% before partially recovering.

The White House has dismissed ongoing speculation that Coinbase has opposed the latest stablecoin yield deal and could block the crypto bill, the CLARITY Act, from moving forward again.

In an X (formerly Twitter) post, Patrick Witt, the executive director of the President’s Council of Advisors for Digital Assets, discredited the claims as ‘uninformed FUD.’

He seemed confident that the stablecoin yield deal made last week between the Senate and White House would reignite momentum for the CLARITY Act.

Rumors on the Coinbase holdout

The speculation that Coinbase CEO Brian Armstrong opposed the stablecoin yield proposal was sparked by a Punchbowl News (PBN) report.

According to Brendan Pedersen, a reporter at PBN, representatives at the exchange told the Senate on Monday that Coinbase could not support the latest stablecoin yield deal. However, Pedersen clarified that the holdout was not as strong as Armstrong’s public opposition to the bill in January.

Although some stablecoin yield supporters stood by the alleged Armstrong holdout, others pleaded with him to allow the bill to pass and refine it later.

For his part, Tommy Shaughnessy, founder of crypto VC firm Delphi Ventures, implored Armstrong to reconsider his strong stance against the yield compromise and the crypto bill.

The recent deal narrowed stablecoin yield to account activity rather than the current passive interest earned on balances via intermediaries.

Although this was a win for the banks, as of writing, there was no public statement from the industry on whether they were okay with the yield compromise or not.

Likewise, as of writing, Brian Armstrong had not made a public statement on the alleged opposition to the stablecoin yield compromise.

However, Senator Cynthia Lummis stressed that the bill can’t be postponed, underscoring the current pro-crypto regime as the best to advance clear rules for the sector.

Meanwhile, the details on the limited stablecoin yield in the latest CLARITY Act draft made traders turn bearish on Circle stock, CRCL. The stock fell 20% on Tuesday, from $127 to $98, before easing back to over $100 on Wednesday.

Final Summary

Trump’s crypto advisor dismissed rumors that Coinbase is opposing the latest stablecoin yield deal, calling the speculation “uninformed FUD.”
The proposed stablecoin yield restriction sent Circle stock tumbling 20% this week.

Preguntas relacionadas

QWhat did the White House call the claims about Coinbase stalling the CLARITY Act?

AThe White House, through Patrick Witt, dismissed the claims as 'uninformed FUD'.

QWho is Patrick Witt and what is his role?

APatrick Witt is the executive director of the President's Council of Advisors for Digital Assets.

QWhat was the main change in the latest stablecoin yield deal?

AThe recent deal narrowed stablecoin yield to account activity rather than the passive interest earned on balances via intermediaries.

QWhat was the market reaction to the proposed stablecoin yield restrictions?

ACircle's stock (CRCL) fell 20% on Tuesday, from $127 to $98, before recovering to over $100 on Wednesday.

QAccording to the article, had Brian Armstrong made a public statement on the alleged opposition at the time of writing?

ANo, as of the time of writing, Brian Armstrong had not made a public statement on the alleged opposition to the stablecoin yield compromise.

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