Coinbase CEO Brian Armstrong engaged in a heated debate over Bitcoin's monetary independence with Banque de France Governor François Villeroy de Galhau at the World Economic Forum in Davos. Armstrong argued that Bitcoin's decentralized nature makes it more independent than central banks, countering Villeroy de Galhau's preference for central banks with democratic mandates. The discussion marked a rare focus on Bitcoin itself at the WEF, where topics typically center on blockchain technology and central bank digital currencies. Armstrong further criticized traditional finance systems, accusing US banks of using regulatory pressure to stifle crypto competition, particularly around stablecoin legislation. This debate coincides with broader concerns about the global financial system's stability, as highlighted by hedge fund veteran Ray Dalio's warnings about the current monetary order's fragility.