It seems like Coinbase founder @brian_armstrong publicly lashed out at the CLARITY Act, saying he’d rather scrap the bill entirely. His hardline stance brought underlying conflicts and interests to the surface, making things awkward for everyone involved and potentially leading to the bill being withdrawn. Previously, the Banking Committee had held multiple private discussions to balance interests before the vote, and the Agriculture Committee even postponed voting to avoid escalating tensions. But Coinbase, for some reason, decided to stir things up and make a big scene. Some people are cheering, saying Coinbase is bravely carrying the flag for the entire crypto industry, fighting solo. Come on, don’t assume everyone is so noble—especially a business. The real reason behind Coinbase’s dramatic move is the same old issue: banning interest payments on stablecoins would directly cost Coinbase $1 billion in annual revenue and lead to a massive loss of users. Coinbase heavily relies on USDC subsidies to indirectly pay interest to users and attract deposits. Meanwhile, Ripple’s CEO is strongly in favor of advancing the CLARITY Act and publicly criticized Coinbase for being overly aggressive. Of course, that’s because the ban on stablecoin interest payments doesn’t affect Ripple much. As for the restriction on paying interest to stablecoin holders, it currently only applies to passive holding, aiming to prevent stablecoins from competing with bank deposits. Active methods like staking, lending, and providing liquidity in DeFi remain unaffected. So, this restriction mainly targets exchange-based savings products and doesn’t completely cut off stablecoin holders from earning yields. For regular users, it’s not a big deal. Honestly, some companies in the crypto industry are getting a bit too greedy. The legal environment is already much more relaxed than before, and they’ve got a seat at the table now. But they’re trying to smash the traditional banking industry’s bowl and take all the food for themselves, leaving no room for others to survive.