The White House is reportedly considering withdrawing its support for the crypto market structure bill if Coinbase does not agree to a yield arrangement that satisfies banks, according to a source close to the Trump administration. The administration is reportedly upset with Coinbase's recent actions, which were not communicated in advance, and views them as a "rug pull" against both the White House and the broader industry.
The source emphasized that the White House does not believe a single company should represent the entire crypto industry, stating, "This is President Trump's bill at the end of the day, not Brian Armstrong's." The situation underscores tensions between the administration and Coinbase, with potential implications for the future of the bill.
White House May Withdraw Support for Crypto Bill Over Coinbase Dispute
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