The journalist shared additional details on X, quoting the source as describing heightened anger inside the administration, writing:
“The White House is said to be furious with Coinbase’s ‘unilateral’ action on Wednesday, which it apparently was not notified of in advance, calling it a ‘rug pull’ against the White House and the rest of the industry. The White House does not believe that one company speaks for the entire industry.”
FAQ ⏰ Why is the White House frustrated with Coinbase? Officials reportedly believe Coinbase acted unilaterally without warning during sensitive crypto market structure negotiations. What could cause the White House to pull support for the crypto bill? Support may be withdrawn if yield-related provisions fail to satisfy major banks and regulators. What role do banks play in the crypto market structure bill? Banks are focused on yield, balance sheet exposure, liquidity planning, and supervisory oversight. Why is the crypto market structure bill politically significant? Sources say the legislation is viewed internally as President Trump’s bill, not an industry-led effort.
