Coinbase CEO Brian Armstrong used a Twitter thread to warn about what he said would be a "terrible path" for the U.S. if it were to restrict crypto staking in the country.

"We're hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers," he wrote in a thread on Twitter, arguing that it was an important innovation in the space that fosters scalability, increased security and reduced carbon footprints. "Staking is not a security."