Trump Meets Coinbase CEO as Banks Block US Crypto Bill Over Stablecoin Yields

U.S. President Donald Trump met privately with Coinbase CEO Brian Armstrong on March 3 before publicly criticizing major banks for stalling a key cryptocurrency bill, Politico reports. The dispute centers on whether exchanges like Coinbase can offer yield-like rewards on customer stablecoin holdings—digital tokens pegged to the U.S. dollar—a practice banking groups oppose, fearing deposit outflows from traditional lenders. The clash has delayed a broader crypto market structure bill and a planned Senate Banking Committee markup, while White House talks between banking and crypto representatives have yet to produce an agreement. Coinbase has expanded its political presence through Fairshake, a crypto-focused super PAC that has raised over $190 million to support candidates in upcoming elections.