Coinbase Endorsement Clears Path for Clarity Act Markup by April
The Clarity Act is positioned for markup by April. This movement follows an endorsement from Coinbase CEO Brian Armstrong, who previously avoided supporting the bill due to unresolved concerns regarding stablecoin yield provisions. The endorsement is significant because Coinbase earned an estimated 20% of its 2025 revenue—$1.35 billion—from stablecoin rewards. The legislative gridlock had been sustained by the banking sector, which claimed stablecoin yields could trigger up to $6.6 trillion in deposit flight. The President’s Council of Economic Advisers rejected that figure, finding stablecoin yields have minimal impact on bank deposits.
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