Coinbase CEO Critiques Senate’s Anti-DeFi Proposal, Fears Capital Flight

Coinbase CEO Brian Armstrong has publicly opposed a recent Senate proposal aimed at curtailing decentralized finance (DeFi). He argues that the bill would stifle innovation in the U.S., potentially jeopardizing its position as a leader in the crypto sector. The proposal could lead to billions of dollars in investment flight, with experts predicting a decline in US market share for DeFi technologies.