JPMorgan’s Dimon Slams Coinbase’s Armstrong, Calls Him ‘Full of Sh-t’ in Crypto Bill Clash

JPMorgan Chase CEO Jamie Dimon sharply attacked Coinbase CEO Brian Armstrong in a Fox Business interview aired May 29, 2026, calling him “full of sh-t” and vowing that banks will fight the current version of the Clarity Act. The Senate Banking Committee advanced the bill earlier this month, fueling a dispute over whether crypto exchanges can pay interest on stablecoins. Armstrong, whose Coinbase is the largest U.S. crypto exchange, has been a key backer of the legislation. Coinbase is a major donor to Fairshake, the largest single-issue super PAC in the 2024 election cycle, which spent $135 million and now has over two dozen beneficiaries on committees overseeing crypto bills. Dimon said, “No one’s going to bow down to this guy,” referring to Armstrong’s Washington spending. Banks argue that letting exchanges offer yields on stablecoins would create unregulated deposit-like products, while crypto firms seek to make stablecoins more lucrative. The banking industry is ramping up its own lobbying through new groups to counter the crypto sector’s political influence.