Coinbase Shares Rise as Trump Meets with CEO Amid Stablecoin Legislation Dispute

Coinbase shares experienced a significant increase in premarket trading after President Donald Trump met with CEO Brian Armstrong. Sources familiar with the matter confirmed that the meeting took place, but neither Coinbase nor the White House commented on its specifics.

The meeting preceded Trump's Truth Social posts, where he urged banks to reach a deal with the crypto industry on pending legislation. The GENIUS Act and CLARITY Act are two key bills in question, which aim to regulate cryptocurrency and stablecoins.

At the heart of the conflict is the issue of yield programs on stablecoins. Crypto exchanges like Coinbase argue that these programs promote competition and user earnings, while banks fear they could harm lending and pull deposits from traditional accounts.