Amrith Ramkumar

Armstrong blowing up the vote like that was seen as really a shot across the bow at the banking industry and even some people in the White House.

So then the following week, Armstrong flies to Davos to try to make peace.

But at one point, he's talking to former UK Prime Minister Tony Blair.

And then Jamie Dimon of JPMorgan Chase comes up and interrupts.

and gets pretty heated and tells Armstrong he's full of shit.

Armstrong had also been going on TV saying that banks were trying to ban their competition with this lobbying fight and that essentially implying banks were sort of being anti-innovation.

And Jamie Dimon and others had a big problem with that.

It's a really interesting question because they're very close to Coinbase and they talk regularly and they know that Coinbase is critical to the ecosystem.

But David Sachs is also a venture capitalist and a lot of the smaller crypto companies need this bill to pass.

just the core regulatory clarity that the SEC will oversee these parts of the ecosystem and the CFTC will oversee these other parts.

That is very meaningful for a large part of this ecosystem.

So you can see a world where Sachs and others are torn because they don't want Coinbase to have to sort of fall on the sword here, but they really need this bill to pass.

It is probably the biggest portion of Trump's crypto agenda that's outstanding.

The Biden rule would have divided countries into three tiers, and that would determine how many advanced chips the country could buy. Many U.S. allies, such as Switzerland, India, and Israel, were in Tier 2 and would still face limits and controls on the number of chips they could get.

The Biden rule would have divided countries into three tiers, and that would determine how many advanced chips the country could buy. Many U.S. allies, such as Switzerland, India, and Israel, were in Tier 2 and would still face limits and controls on the number of chips they could get.

That fueled a strict backlash from those countries and many companies like Microsoft and Oracle that worried that that system would hurt their business. Our reporting indicates that the Trump administration is considering getting rid of that tiered system in favor of a series of bilateral country-by-country agreements and will now go about negotiating those.

That fueled a strict backlash from those countries and many companies like Microsoft and Oracle that worried that that system would hurt their business. Our reporting indicates that the Trump administration is considering getting rid of that tiered system in favor of a series of bilateral country-by-country agreements and will now go about negotiating those.

And we've been told that chip export controls are now part of tariff talks between the U.S. and other countries.

And we've been told that chip export controls are now part of tariff talks between the U.S. and other countries.

He's been fascinated by tariffs for many decades, and in the first administration didn't think he went far enough, essentially. So definitely he's almost willing to maybe potentially sacrifice some of the other things on his agenda to get what he wants with tariffs.