Fed Chair Met with Coinbase CEO in May — the Month Bitcoin Price Halved


Federal Reserve Chairman Jerome Powell met with cryptocurrency exchange Coinbase CEO Brian Armstrong on May 11, according to the Fed chair’s monthly diary.

This in-person meeting with Coinbase Chief Executive Officer and former Speaker of the U.S. House of Representatives Paul Ryan that took place in the month in which Bitcoin price crashed from nearly $60k to just under $30k, lasted 30 minutes.

Powell, who presides over the central bank’s examination of digital currencies, also met with crypto advocate aka ‘Crypto Dad’ Christopher Giancarlo a day later. Giancarlo is the former chairman of the U.S. Commodity Futures Trading Commission (CFTC) and director of the Digital Dollar Project, with whom the virtual meeting also lasted for half an hour.

A few days after the meeting, on May 20, Powell said in the statement that the central bank is “committed” to listen to different views before making a decision on whether and how to move forward with a CBDC.

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