The White House stressed that one company does not represent the entire industry.
Key Takeaways
- The White House may withdraw support for the crypto bill if Coinbase does not resume negotiations with a yield agreement acceptable to banks.
- Coinbase’s unsanctioned actions have angered the Trump administration, which sees them as a ‘rug pull’ against the administration and the crypto industry.
The Trump administration has threatened to completely withdraw its support for the crypto market structure legislation if Coinbase does not return to negotiations with a yield agreement acceptable to banks, according to Crypto In America’s Eleanor Terrett.
🚨SCOOP: The White House is considering pulling its support for the crypto market structure bill entirely if @coinbase does not come back to the table with a yield agreement that satisfies the banks and gets everyone to a deal, a source close to the Trump a