White House Angered by Coinbase's Actions, Considering Withdrawing Support for Cryptocurrency Market Structure Bill

Odaily News: Eleanor Terrett, a reporter for Crypto In America, posted on platform X that, according to sources close to the Trump administration, the White House is considering completely withdrawing its support for the cryptocurrency market structure bill if Coinbase does not return to the negotiating table to reach a profit-sharing agreement satisfactory to the banks and facilitate a final deal.

The sources stated that the White House is furious about the unilateral action taken by Coinbase on Wednesday, describing it as a "sudden reversal" against the White House and the entire industry without prior notice. The White House believes that a single company cannot represent the entire industry and emphasized that the bill ultimately belongs to President Trump, not to Brian Armstrong.