Wu Blockchain (@WuBlockchain): Coinbase CEO: Banks Shouldn't Lend Out Your Deposits Without Your Knowledge
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Coinbase CEO: Banks Shouldn't Lend Out Your Deposits Without Your Knowledge On September 15, 2026, Coinbase CEO Brian Armstrong @brian_armstrong said in an interview that banks should not lend out customer deposits without depositors’ knowledge or consent, describing the practice as a legacy of the fractional reserve system. He also said regulated stablecoins backed by eligible reserve assets under the GENIUS Act may carry lower risks than traditional bank deposits. Armstrong added that high regulatory barriers have limited innovation in banking and contributed to greater market concentration among a small number of large institutions.