coinbase

Coinbase CEO Brian Armstrong has sharply criticized the European Union, accusing it of using regulatory power to extract billions in fines from American tech companies. He claims that instead of fostering innovation and economic growth, the EU has turned regulation into a revenue-generating tool focused on punishment over progress.
In a post on X, Armstrong wrote:
“At some point, when enough regulation leads to fines, it borders on looting. You can have more fines from overregulation, or you can have a growing economy – but not both.”
His comments came in response to a statement by David Fant, founder of Agentic Godmode AI, who pointed out that the EU collected €3.8 billion in fines from U.S. companies in 2024 – more than the €3.2 billion paid in corporate income taxes by public European tech firms.

€3.8 Billion in Fines, More Than Tech Tax Revenue
According to Fant, the EU earned more from penalties levied against firms like Apple, Google, Meta, X, and TikTok than from their actual tax contributions in Europe. The fines included:
🔹 €400 million under GDPR privacy rules

🔹 €3.4 billion under antitrust regulations, the Digital Markets Act, and the Digital Services Act

U.S. Criticism: "EU Becoming a Revenue Tool"
American business leaders and politicians are increasingly warning that Europe’s digital regulatory regime is becoming a politicized tool of economic pressure. The latest flashpoint was a €120 million fine against Elon Musk’s X over allegedly misleading verification systems and lack of advertising transparency.
Elon Musk responded bluntly:
“The EU should be dissolved and sovereignty returned to individual countries.”
Several U.S. officials echoed Musk’s frustration. Senator Marco Rubio called the EU’s actions “an attack on all American tech platforms and the American people.” U.S. Ambassador to the EU Andrew Puzder accused Brussels of suppressing American innovation and warned that the U.S. expects “fair, open, and reciprocal trade – nothing less.”

EU Officials Defend Their Laws: “We Must Be Tough”
European lawmakers insist that strict enforcement is necessary to protect users and ensure fair competition.
Bas Eickhout, co-chair of the Green Party in the European Parliament, told POLITICO:
“The Commission must enforce the law with an iron fist, no matter how loudly U.S. officials protest. We are the only ones truly standing up to Big Tech.”
The recent fine against X marked the first official non-compliance ruling under the Digital Services Act, which came into effect shortly after Musk acquired Twitter in 2022.

Summary: Economy vs. Regulation?
Armstrong, Musk, and others argue that Europe is going too far, while the EU maintains that it's defending user rights and market fairness. The debate is rapidly escalating into a geopolitical clash between the U.S. and EU, with tech regulation becoming the new battleground for global influence.

#coinbase , #brianarmstrong , #CryptoNews , #ElonMusk , #AI

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

📅 December 9 | United States
The corporate banking world has just taken a historic leap: PNC, one of the largest banks in the United States, is preparing an infrastructure to allow its high-net-worth clients to invest directly in Bitcoin, using Coinbase technology as a conduit.

📖According to The Block, PNC is taking concrete steps to open access to Bitcoin through Coinbase, not through a simple integration, but through shared technical infrastructure. This means the bank will not act as an exchange, but will instead use Coinbase's institutional custody and execution for buying, selling, and storing BTC.
The objective is clear: to serve its high-net-worth clients, those who already control large financial portfolios and seek exposure to Bitcoin, but with regulated, secure, and banked backing. For these individuals, operating on a retail exchange was never a viable option; they needed an institutional bridge. That bridge is now being built.
The Block confirms that this alliance is not in a speculative phase, but rather a technical one: there have been discussions, systems integration, and preparations to officially offer the service. All of this is happening in a context where Coinbase has become the "backbone" of institutional crypto infrastructure in the United States, from ETFs to OTC services.
PNC's decision does not come in a vacuum. This comes after a year in which global banks have quietly expanded their exposure to crypto, but few have done so publicly. What's surprising is that PNC, with over $550 billion in assets under management, is going straight to the most controversial asset, without beating around the bush, without diluting the narrative: Bitcoin as a store of value.
This move is also significant because PNC has clients who see Bitcoin not as a speculative tool, but as a strategic asset for long-term wealth preservation. The fact that the infrastructure relies on Coinbase allows custody and execution to adhere to institutional standards.
The news doesn't mention final launch dates or service limits because the process is still in a non-public stage. But what is clear is that the bank cannot turn back: a traditional institution has crossed the threshold into Bitcoin, and it has done so on Coinbase's side.

Topic Opinion:
PNC isn't entering Bitcoin because it's trendy; it's doing so because of real demand. High-net-worth individuals seek diversification, preservation, and exposure to the most stable asset in the crypto ecosystem. Coinbase, for its part, confirms its role as a regulated infrastructure provider. If this model works, we'll see a wave of banks replicating it.
💬 Do you think other banks will follow suit?

Leave your comment...
#bitcoin #coinbase #InstitutionalCrypto #usa #CryptoNews $BTC

Ngân hàng #PNC tạo nên lịch sử với giao dịch Bitcoin.
Ngân hàng PNC vừa thực hiện một bước đột phá bằng cách hợp tác với #Coinbase để cung cấp giao dịch Bitcoin cho khách hàng của mình! 🚀 Điều này khiến PNC trở thành ngân hàng lớn đầu tiên của Hoa Kỳ chấp nhận giao dịch Bitcoin, báo hiệu sự chấp nhận ngày càng tăng của các tổ chức đối với tiền điện tử.
Nhìn vào biến động giá BTC gần đây, thời điểm này không thể tốt hơn! Bitcoin đã cho thấy sức mạnh ấn tượng, tăng từ khoảng 90.000 USD lên hơn 93.500 USD chỉ trong vòng 24 giờ. Nến 4 giờ gần đây nhất cho thấy Bitcoin đạt mức cao 93.600 USD với động lực mua mạnh mẽ.
Sự chấp nhận của tổ chức này diễn ra vào thời điểm thú vị đối với thị trường tiền điện tử. Với PNC quản lý khoảng 500 tỷ USD tài sản, động thái này có thể giới thiệu Bitcoin cho một lượng lớn nhà đầu tư truyền thống mới.

Nội dung chỉ mang tính tham khảo, thảo luận, không phải lời khuyên đầu tư.
$BTC