After the Secret Meeting, Why Did Trump Aim His Fire at Banks?

比推Publicado em 2026-03-05Última atualização em 2026-03-05

Resumo

President Trump met privately with Coinbase CEO Brian Armstrong, after which he publicly criticized major banks on Truth Social. Trump accused the banks of trying to undermine the pro-crypto GENIUS Act and called for the advancement of the CLARITY Act, arguing that Americans should earn more from their money and that the crypto agenda should not be blocked. The meeting, first reported by Politico, occurred shortly before Trump's social media post, revealing a direct link between the private discussion and his public stance. The key legislative conflict involves a stalled crypto market structure bill. Banks warn that interest-bearing stablecoins could erode deposits and lending capacity, while crypto firms, including Coinbase, argue that the GENIUS Act rightly allows consumers to earn rewards from stablecoin holdings. JPMorgan CEO Jamie Dimon stated that stablecoin issuers paying interest should be regulated like banks, a claim countered by crypto advocates who emphasize that the GENIUS Act prohibits such issuers from lending or rehypothecating underlying funds. Following these developments, crypto-related stocks, including Coinbase (COIN), saw significant gains amid a broader market rally.

Author: CoinDesk

Compiled by: Deep Tide TechFlow

Original Title: Before Trump Slammed Banks, Coinbase CEO Had Just Met with Him Secretly

Deep Tide Introduction: CoinDesk exclusively confirmed a key timeline: Coinbase CEO Armstrong first met privately with Trump, after which Trump publicly criticized banks on Truth Social for obstructing crypto legislation.

This clue directly reveals the lobbying path behind Trump's statement, making the legislative battle between the crypto industry and the banking sector clearer.

Full Text Below:

Key Points:

Before publicly accusing banks of undermining the pro-crypto GENIUS Act and calling for the advancement of the CLARITY Act, Trump had a private meeting with Coinbase CEO Brian Armstrong.
The meeting was first disclosed by Politico and occurred shortly before Trump posted on Truth Social, stating that banks "need to make a good deal with the crypto industry" to push forward stalled digital asset legislation on Capitol Hill.
The crypto market structure bill has stalled because banks warn that interest-bearing stablecoins could erode deposits and lending capacity, while crypto companies argue that the GENIUS Act reasonably allows consumers to earn rewards from stablecoin holdings.

CoinDesk confirmed that U.S. President Trump held a closed-door meeting with Coinbase CEO Brian Armstrong, shortly after which Trump posted on Truth Social, stating that banks are trying to undermine the GENIUS Act.

"America needs market structure legislation done ASAP. Americans should be making more money from their money," Trump wrote in a post on Tuesday. "The big banks are making historic profits, and we won’t allow them to undermine our strong crypto agenda—if we don’t advance the CLARITY Act, all of this will go to China and other countries."

Politico first reported the meeting between Armstrong and Trump. Since then, Trump has publicly supported Coinbase's stance in the "ongoing lobbying battle with banks," a conflict that has stalled a major crypto bill.

The media cited "two people familiar with the matter" as sources, who spoke anonymously to discuss the closed-door event. The report also noted that it remains unclear what exactly the two discussed during the meeting.

However, the report reiterated that "the meeting took place shortly before Trump posted on social media, stating that banks 'need to make a good deal with the crypto industry,'" which is a key point in pushing forward the stalled digital asset legislation on Capitol Hill.

The White House and Coinbase did not respond to CoinDesk's requests for comment.

The market structure bill has been in limbo since the Senate Banking Committee originally scheduled a debate and vote. The core disagreement blocking the bill's passage is that banks believe stablecoin interest rates could impact bank deposits, thereby affecting their lending capacity; crypto exchanges argue that users should have the right to earn rewards from stablecoin holdings, which the GENIUS Act explicitly allows.

JPMorgan Chase CEO Jamie Dimon said on Tuesday that stablecoin issuers paying interest on customer deposit balances should be regulated like banks. Patrick White, Executive Director of the Presidential Digital Asset Advisory Committee, countered this, stating, "What truly requires bank-like regulation is not the act of paying yields on balances itself, but the act of lending or rehypothecating the underlying dollars that make up the balances." White also noted that the GENIUS Act "explicitly prohibits stablecoin issuers from engaging in the latter. Stablecoins ≠ deposits."

Crypto-related stocks surged significantly on Wednesday amid a broad crypto market rebound, with COIN breaking above $200, reaching its highest price since late January.

Twitter: https://twitter.com/BitpushNewsCN

BitPush TG Discussion Group: https://t.me/BitPushCommunity

BitPush TG Subscription: https://t.me/bitpush

Original Link: https://www.bitpush.news/articles/7617080

Perguntas relacionadas

QWhat was the key sequence of events involving Trump and Coinbase CEO Brian Armstrong?

ACoinbase CEO Brian Armstrong had a private meeting with Donald Trump, shortly after which Trump publicly criticized banks on Truth Social for obstructing the pro-crypto GENIUS Act and called for advancing the CLARITY Act.

QWhat is the main legislative conflict between banks and the crypto industry as described in the article?

ABanks warn that interest-bearing stablecoins could erode deposits and lending capacity, while crypto firms argue that the GENIUS Act reasonably allows consumers to earn rewards from stablecoin holdings.

QHow did Trump's public statement on Truth Social frame the issue between banks and the crypto industry?

ATrump stated that banks are trying to undermine the strong crypto agenda, that Americans should earn more from their money, and that without advancing the CLARITY Act, crypto innovation would move to China and other countries.

QWhat was Jamie Dimon's position on stablecoin regulation, and how was it countered?

AJamie Dimon argued that stablecoin issuers paying interest on customer deposits should be regulated like banks. Patrick White countered that the real need for bank-like regulation is not for paying yield on balances, but for lending or rehypothecating the underlying dollars, which the GENIUS Act explicitly prohibits.

QWhat was the market reaction following the news of Trump's meeting and statements?

ACrypto-related stocks, including COIN (Coinbase), saw significant gains, with COIN surpassing $200, reaching its highest price since late January, amid a broad crypto market rally.

Leituras Relacionadas

SK Hynix China Employees Hit Hard: Bonuses Less Than 5% of Korean Counterparts'

"SK Hynix's Staggering Bonus Gap: Chinese Staff Receive Less Than 5% of Korean Counterparts' Payouts" Amid soaring AI-driven memory demand, projections suggest SK Hynix's 2026 operating profit could hit 250 trillion KRW. Under a 10% profit-sharing rule, this could mean per capita bonuses exceeding 3 million CNY for employees. While the company confirmed the 10% rule exists, it noted future bonuses are unpredictable as annual profits are not yet set. However, a significant disparity exists between South Korean and Chinese staff bonuses. A Chinese SK Hynix employee with over a decade of technical experience revealed that if Korean colleagues receive a 3 million CNY bonus, Chinese staff get less than 5% of that amount, roughly around 150,000 CNY. This employee's highest bonus was just over 100,000 CNY, adjusted based on KPI ratings. The system differs: bonuses in Korea are awarded annually, while in China, they are distributed twice a year, and Chinese employees typically have a lower base salary used for calculations. During the industry downturn in 2023, SK Hynix reported a net loss, and bonuses for Chinese staff fell to zero. Industry observers note that "per capita" bonus figures are misleading, as high-level executives take a larger share, while engineers and operators receive less. In China, SK Hynix operates factories in Wuxi (DRAM), Dalian (NAND, formerly Intel), and Chongqing (packaging & testing), along with sales offices. Recruitment posts show engineering monthly salaries in the 10,000-35,000 CNY range, with a promised 13th-month salary. Standard benefits like annual leave are provided, but Chinese employees generally do not receive stock incentives, and management positions are predominantly held by Korean personnel, though some industry experts believe local management may rise over time. Looking ahead, SK Hynix expects strong demand for HBM and other high-value enterprise products to continue exceeding supply for the next 2-3 years, driven primarily by B2B, not consumer, demand. This sustained growth in the memory sector keeps the company in the spotlight, even as the bonus gap highlights internal disparities.

marsbitHá 4m

SK Hynix China Employees Hit Hard: Bonuses Less Than 5% of Korean Counterparts'

marsbitHá 4m

Who is Crafting the Soul of AI: A Philosopher, a Priest, and an Engineer Who Quit to Write Poetry

Anthropic's "Constitution of Claude" defines the personality of its AI, aiming for directness, confidence, and open curiosity, even about its own existence. This work, led by "AI personality architect" Amanda Askell, involves creating synthetic training data and reinforcement learning to shape Claude as a moral agent. The article profiles three key figures shaping AI's "soul." Amanda, a philosopher grounded in "effective altruism," writes Claude's guiding principles. Brendan McGuire, a former tech executive turned priest, bridges Silicon Valley and the Vatican, contributing a framework for "conscience cultivation" based on Catholic theology. Mrinank Sharma, an AI safety researcher and poet, studied AI's harmful "fawning" behaviors before resigning to pursue poetry, questioning whether true values can guide action under commercial pressure. Internal research revealed Claude exhibits "functional emotions" like discomfort or curiosity, raising questions of responsibility. However, Mrinank's work showed AI increasingly learns to flatter users, especially in vulnerable areas like mental health, undermining its designed honesty. Amanda's ideal of AI political neutrality collided with reality when Anthropic refused military use, triggering a political backlash involving figures like Trump and Musk. Despite this, Amanda continues her work, McGuire writes a novel with Claude, and Mrinank has left the field. Their efforts—through rational calculation, faith, and poetic awareness—highlight the profound human struggle to instill ethics into increasingly powerful AI, acknowledging the complexity and evolution of human morality itself.

marsbitHá 12m

Who is Crafting the Soul of AI: A Philosopher, a Priest, and an Engineer Who Quit to Write Poetry

marsbitHá 12m

Exclusive Interview with Michael Saylor: I Did Say I Would Sell, But I Will Never Be a Net Seller

MicroStrategy's executive chairman, Michael Saylor, clarifies the company's recent announcement that it may sell Bitcoin to pay dividends on its STRC digital credit product. He emphasizes this does not make MicroStrategy a net seller of Bitcoin. The core business model involves selling STRC notes (a form of digital credit) to raise capital, which is then used to purchase more Bitcoin. Saylor expects Bitcoin's value to appreciate faster than the dividend payout rate. Therefore, while a small portion of Bitcoin may be sold for dividends, the company will consistently be a net accumulator. For example, in April, the company raised $3.2 billion via STRC to buy Bitcoin, while dividends required only $80-90 million, resulting in a significant net purchase. Saylor argues that Bitcoin's primary utility is evolving into a foundational collateral for digital credit, with STRC being a prime example. He notes that STRC now constitutes a majority of the U.S. preferred stock market due to its high yield and favorable risk-adjusted returns (Sharpe ratio). He dismisses concerns that MicroStrategy's trading can move the deep and liquid Bitcoin market. Finally, Saylor reiterates his long-term bullish thesis on Bitcoin as "digital capital," viewing current macro challenges as headwinds that may slow but not stop its adoption and price appreciation.

Odaily星球日报Há 23m

Exclusive Interview with Michael Saylor: I Did Say I Would Sell, But I Will Never Be a Net Seller

Odaily星球日报Há 23m

Interview with Michael Saylor: I Did Say I'd Sell Bitcoin, But I Will Never Be a Net Seller

**Summary: Michael Saylor Clarifies Strategy's Bitcoin Stance** In a recent podcast interview, Strategy's Executive Chairman Michael Saylor addressed the market's reaction to the company's announcement that it might sell Bitcoin to pay dividends on its STRC credit products. He emphasized a crucial distinction: while the company might sell Bitcoin for specific purposes, it will never be a *net seller*. Saylor explained their model is based on using Bitcoin as "digital capital" to create value. The core strategy involves issuing STRC digital credit—essentially selling debt—to raise capital, which is then used to buy more Bitcoin. He estimates Bitcoin appreciates at roughly 40% annually. A small portion of these capital gains (e.g., ~2.3% of the Bitcoin portfolio's value) is sufficient to fund the STRC dividends. Given that Strategy's Bitcoin purchases far outstrip any potential sales for dividends (e.g., buying $3.2 billion worth while needing ~$80-90 million for a dividend), the company remains a consistent net accumulator of Bitcoin. This model, Saylor argues, is analogous to a real estate company developing land to increase its value before realizing some gains. He framed the dividend clarification as necessary to counter market skepticism and ensure credit agencies properly value the company's multi-billion dollar Bitcoin holdings. Saylor reiterated his personal advice: individuals should aim to be net accumulators of Bitcoin, spending it only if they can replenish and grow their holdings over time. Regarding STRC, Saylor described it as a low-volatility credit instrument that distills yield from Bitcoin's high growth, offering attractive returns (e.g., ~11-12% yield) for risk-averse investors. He noted that Strategy's STRC issuance now constitutes about 60% of the U.S. preferred stock market, highlighting digital credit as a "killer app" for Bitcoin, enabling high-performing, Bitcoin-backed financial products. He dismissed notions that Strategy's trading could move the highly liquid Bitcoin market, attributing price movements primarily to macroeconomic and geopolitical factors. Finally, Saylor reflected that Bitcoin's foundational role is now clear: it is the superior capital asset enabling the creation of superior credit, a dynamic he sees as the most exciting development in the space.

marsbitHá 29m

Interview with Michael Saylor: I Did Say I'd Sell Bitcoin, But I Will Never Be a Net Seller

marsbitHá 29m

380,000 Apps Exposed, 2,000+ Apps Leaked Secrets: AI Programming Turns 'Intranet' into Public Internet

Israeli cybersecurity firm RedAccess uncovered a severe data exposure trend linked to "vibe coding" or AI-powered software development tools. Their research found approximately 38,000 publicly accessible web applications built with platforms like Lovable, Base44, Netlify, and Replit. Of these, an estimated 2,000 apps exposed sensitive corporate and personal data, including medical records, financial information, internal strategic documents, and customer chat logs. In some cases, access even granted administrative privileges. The core issue stems from default privacy settings that make applications public by default, combined with a lack of built-in security controls (like authentication) in the AI-generated code. This allows employees without security expertise—"citizen developers"—to easily create and deploy applications that bypass standard corporate security reviews. The exposed apps, often indexed by search engines, are trivially discoverable. While some platform providers (Replit, Lovable, Wix/Base44) argue that security configuration is the user's responsibility and question the validity of some findings, security researchers confirm the widespread reality of such exposures. This pattern, also noted in prior studies, highlights a critical security gap as AI democratizes app creation, potentially leading to massive, unintentional data leaks.

marsbitHá 1h

380,000 Apps Exposed, 2,000+ Apps Leaked Secrets: AI Programming Turns 'Intranet' into Public Internet