Fed chair met with Coinbase CEO Brian Armstrong and former House speaker in May

Prior to the Federal Reserve announcing it would release a discussion paper on a central bank digital currency, chairperson Jerome Powell met with Coinbase CEO Brian Armstrong.

According to Powell's meeting calendar which was made public on Friday, the Fed chair held a 30-minute meeting with Armstrong as well as former House of Representatives Speaker Paul Ryan on May 11. The reason for Ryan’s presence is unclear — the former speaker left politics in early 2019 and is now with private equity investment firm Solamere Capital.