According to CoinMeta, Coinbase CEO Brian Armstrong stated in an interview on September 15, 2026, that banks should not use deposits for lending without the knowledge or consent of depositors, calling this a traditional arrangement that has continued from the time of the fractional reserve system. He also pointed out that stablecoins, which are regulated by Genius legislation and backed by specified reserve assets, may have lower risks compared to bank deposits. In addition, Armstrong believes that higher regulatory barriers limit innovation in the banking industry and further drive the market towards concentration among a few large institutions.