The U.S. Senate's inability to pass the CLARITY Act is the subject of a planned Wall Street Journal report that targets Coinbase CEO Brian Armstrong, the executive stated. He alleged that the publication is utilizing bank lobby talking points to shift responsibility for the bill's collapse, despite his long-term efforts to secure cryptocurrency legislation. Armstrong maintained that the final version sent to the Senate was a high-quality draft that he endorsed fully.

Armstrong noted that he opposed an early January draft of the legislation during a committee vote because it lacked essential work on DeFi, tokenization, and CFTC authority. Those issues were corrected in a version that passed the committee four months later. He stated he would repeat the move to block the first draft because it helped ensure the eventual bill treated the industry fairly.