Coinbase is fighting the rest of crypto over stablecoin yield. Circle dropped 20%. The Clarity Act compromise is splitting the industry in half.

Armstrong helped kill a Senate hearing in January. Now he's clashing with other firms who think the yield restrictions are worth it to get the full bill passed.
If the bill dies, we get more years of regulatory limbo. If it passes with restrictions, Coinbase adapts or goes to court.
Crypto spent years begging for regulation. Now they can't agree on what they want.