Crypto Community Split as Banks and Builders Clash

[bonk]

The industry response has been sharply divided. Supporters of Coinbase argue the bill protects incumbents rather than fostering innovation, echoing comments from Nic Carter of Coin Metrics, who criticized banks for resisting competitive pressure from higher-yield crypto products.

Others, however, say Coinbase overreached by treating its position as decisive for the entire ecosystem. Critics argue that no single exchange should wield veto power over legislation that affects developers, users, and financial institutions alike—highlighting deeper fractures within crypto over how, and how fast, regulation should move forward.

[chainsniff]

but also coinbase acting like the voice of crypto is a bit much ngl