BLACKROCK AND COINBASE CEO CHAT

Summary from the TLDR Crypto newsletter

Coinbase CEO Brian Armstrong declared 2025 the year crypto regulation became real, citing the GENIUS Act and bipartisan House market structure bill advancing to the Senate, while defending Fairshake's $78 million election spending as transparent advocacy for 52 million American crypto users. BlackRock CEO Larry Fink evolved from calling Bitcoin "money laundering" to viewing it as an "asset of fear" held against deficits and currency debasement after thousands of client conversations influenced his thinking. Armstrong dismissed bank anxiety over stablecoin deposit flight as regulatory capture protecting profit margins and predicted banks will embrace paying interest on stablecoins within two years as the best institutions lean into the opportunity per the Innovator's Dilemma.