Brian Armstrong fired again at Jamie Dimon on Friday with a meme, after the JPMorgan CEO attacked him on dwell TV.
Abstract
- Jamie Dimon appeared on Fox Enterprise on Could 29, calling Armstrong “full of sh!t” and vowing that banks will battle the Readability Act’s stablecoin provisions.
- Armstrong responded on X with a hockey-themed meme depicting himself and Dimon going through off, whereas Galaxy CEO Mike Novogratz publicly backed Armstrong.
- Dimon’s core objection is that the Readability Act lets crypto corporations successfully pay curiosity on stablecoin deposits with out bank-level oversight.
Coinbase CEO Brian Armstrong posted a hockey-themed rivalry meme on X on Friday, hours after JPMorgan Chase CEO Jamie Dimon appeared on Fox Enterprise’s Mornings with Maria and known as Armstrong “full of sh!t” over his lobbying push for the Digital Asset Market Readability Act.
The change escalated a months-long public feud between Wall Road’s largest financial institution chief and crypto’s most distinguished change CEO, now centred on a single sticking level: whether or not crypto platforms needs to be allowed to pay yield on stablecoin balances with out submitting to bank-style regulation.
What Dimon mentioned and what it means
Showing on Fox Enterprise on Could 29, Dimon mentioned: “It allows cryptocurrency firms to effectively pay interest on deposits, stablecoins or something like that, without the protection that they should have. The banks will not accept it that way.” He warned the system would “eventually blow up” if handed as written, and accused Armstrong of spending tons of of tens of millions of {dollars} in Washington to push the invoice. “No one is going to bow down to this guy,” Dimon mentioned.
Galaxy Digital CEO Mike Novogratz joined the response on X, writing: “Since when do banks get to decide on legislation?” Novogratz argued that lawmakers, not monetary establishments, ought to decide the framework for digital property.
The friction between Dimon and Armstrong will not be new. On the World Financial Discussion board in Davos in January 2026, Dimon reportedly informed Armstrong immediately “you are full of sh!t” in a personal assembly that additionally included former UK Prime Minister Tony Blair. Financial institution of America CEO Brian Moynihan additionally reportedly informed Armstrong at Davos: “If you want to be a bank, just be a bank.” Coinbase pulled its assist for the Readability Act in January after a Senate draft included provisions that may have successfully banned yield on stablecoin balances, a withdrawal that compelled Senate Banking Committee Chair Tim Scott to cancel a scheduled vote.
By Could, a compromise had emerged permitting activity-based rewards whereas banning passive yield. As crypto.information reported, Armstrong backed the up to date invoice forward of the Senate Banking Committee’s Could 14 markup, which superior the laws 15 to 9. Regardless of that progress, Dimon’s Friday feedback signalled that JPMorgan and allied banks intend to push again on the ground vote.
For Coinbase, the stakes are direct. Coinbase reported $1.35 billion in stablecoin income in 2025, making the yield provisions a income variable as a lot as a coverage desire. Galaxy Analysis head Alex Thorn presently provides the Readability Act 70% odds of passing earlier than August recess, whereas Polymarket merchants value it at 61%. Dimon’s public opposition, backed by the load of America’s largest financial institution, provides institutional friction at exactly the second the invoice’s ground timeline is most compressed.
