Coinbase CEO defends USDC rewards as distinct from bank interest amid regulatory battles.

Coinbase CEO Brian Armstrong argues that USDC rewards offered by Coinbase differ fundamentally from traditional bank interest, as they are funded by interest on US Treasuries rather than deposits. This distinction is central to his opposition against banking industry efforts and legislation like the CLARITY Act, which seeks to restrict stablecoin rewards programs fearing deposit flight. Armstrong claims banks use regulation to stifle competition, while Coinbase’s rewards program attracts users by offering competitive yields backed by Treasury reserves. The ongoing regulatory debate could reshape Coinbase’s business model depending on future legislation outcomes.

As of Sep 22, 2026 11:11 WIB, USDC trades at Rp17.835 on Pluang, showing a modest 0.34% increase over the past day. The stablecoin holds a significant market cap of Rp1.336,05 trillion and a daily trading volume of Rp429,76 trillion, reflecting active engagement from investors. Pluang data also shows a nearly balanced order activity with 51% selling and 49% buying, and typical hold times averaging 65 days, highlighting steady user interest amid ongoing regulatory discussions.