Brian Armstrong fired again at Jamie Dimon on Friday with a meme, after the JPMorgan CEO attacked him on stay TV.
Abstract
- Jamie Dimon appeared on Fox Enterprise on Might 29, calling Armstrong “stuffed with sh!t” and vowing that banks will combat the Readability Act’s stablecoin provisions.
- Armstrong responded on X with a hockey-themed meme depicting himself and Dimon dealing with off, whereas Galaxy CEO Mike Novogratz publicly backed Armstrong.
- Dimon’s core objection is that the Readability Act lets crypto companies 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 “stuffed with sh!t” over his lobbying push for the Digital Asset Market Readability Act.
The change escalated a months-long public feud between Wall Avenue’s largest financial institution chief and crypto’s most outstanding change CEO, now centred on a single sticking level: whether or not crypto platforms must 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 Might 29, Dimon mentioned: “It permits cryptocurrency companies to successfully pay curiosity on deposits, stablecoins or one thing like that, with out the safety that they need to have. The banks is not going to settle for it that approach.” He warned the system would “ultimately blow up” if handed as written, and accused Armstrong of spending lots of of hundreds of thousands of {dollars} in Washington to push the invoice. “Nobody goes to bow right down to this man,” Dimon mentioned.
Galaxy Digital CEO Mike Novogratz joined the response on X, writing: “Since when do banks get to resolve on laws?” Novogratz argued that lawmakers, not monetary establishments, ought to decide the framework for digital property.
The friction between Dimon and Armstrong just isn’t new. On the World Financial Discussion board in Davos in January 2026, Dimon reportedly advised Armstrong immediately “you might be stuffed with sh!t” in a non-public assembly that additionally included former UK Prime Minister Tony Blair. Financial institution of America CEO Brian Moynihan additionally reportedly advised Armstrong at Davos: “If you wish to be a financial institution, simply be a financial institution.” Coinbase pulled its help for the Readability Act in January after a Senate draft included provisions that might have successfully banned yield on stablecoin balances, a withdrawal that pressured Senate Banking Committee Chair Tim Scott to cancel a scheduled vote.
By Might, 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 Might 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 choice. Galaxy Analysis head Alex Thorn at present provides the Readability Act 70% odds of passing earlier than August recess, whereas Polymarket merchants worth 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 flooring timeline is most compressed.
