Coinbase CEO: Biden made crypto environment 'hostile'

In a notable industry event, Brian Armstrong, CEO of Coinbase Global Inc., expressed concerns over the current administration's cautious stance towards cryptocurrency, suggesting it stifles innovation. The Biden administration, prioritizing consumer protection and financial stability, has faced criticism from the crypto sector, portraying an environment of caution rather than outright hostility.

Brian Armstrong, the head of Coinbase Global Inc., lambasted the Biden administration for fostering a hostile regulatory climate for the cryptocurrency industry, threatening the sector's growth and the innovation economy. Under Biden's oversight, regulations have tightened, ostensibly to protect consumers, but critics argue this approach harms the industry's potential and the broader economic benefits it can offer.