The White House is considering withdrawing support for the cryptocurrency market structure bill due to dissatisfaction with Coinbase's actions

According to journalist Eleanor Terrett, a source close to the Trump administration revealed that if Coinbase fails to propose a yield agreement that satisfies banks to facilitate consensus, the White House is considering withdrawing support for the cryptocurrency market structure bill. The White House is angry about Coinbase's "unilateral" action on Wednesday, stating that it did not notify in advance and considered it a "breach of trust". Sources point out that the White House believes that a single company cannot represent the entire industry and emphasizes that the bill is an initiative of President Trump, not Coinbase CEO Brian Armstrong.