
A source close to the Trump administration says White House backing could be withdrawn if Coinbase refuses to renegotiate bill terms amid legislative disputes.
Coinbase’s withdrawal of support for the US crypto market structure bill has sparked tensions with the White House. Journalist Eleanor Terrett reported that a source close to the Trump administration indicated potential withdrawal of White House support for the bill unless Coinbase agrees to renegotiate. This follows Coinbase’s January 15 public rejection of the current draft prior to Senate revisions. CEO Brian Armstrong cited prohibitions on tokenized stocks, DeFi restrictions, and diminished CFTC oversight as key reasons for opposition, warning the bill may worsen the regulatory landscape.