WSJ: Brian Armstrong was snubbed by top executives from the biggest U.S. banks in Davos

Stablecoin rewards and the Clarity Act widen the divide between crypto and TradFi, according to people who spoke with the WSJ. What to know : Coinbase CEO Brian Armstrong faced a frosty reception from top Wall Street bank chiefs in Davos as he lobbied against a key Senate crypto bill. Armstrong argues that traditional banks are pushing the Clarity Act to curb stablecoin rewards, which function like high-yield interest accounts and could threaten deposit-based banking models. The clash over the Clarity Act could reshape who is allowed to offer stablecoin products, even as Coinbase continues to partner with major banks such as JPMorgan and Citigroup.