@EleanorTerrett: White House may pull crypto bill support over Coinbase yield

@EleanorTerrett
@EleanorTerrett

🚨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 administration tells me. 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, the source continued. “This is President Trump’s bill at the end of the day, not Brian Armstrong’s,” the source said.

x.com
by mishaderidder.eth13093 🥝 • 9mo • xcancel.com
AI summary of the linked article

The White House is considering withdrawing its support for the crypto market structure bill unless Coinbase returns to negotiations with a yield agreement that satisfies the banks, according to a source close to the Trump administration cited by Eleanor Terrett. The source says the White House is furious over Coinbase's "unilateral" action on Wednesday, which it was not notified of in advance and which it calls a "rug pull" against the White House and the industry. The source adds that the White House does not believe one company speaks for the entire industry.

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when crypto seeks gov approval lol. this is all so predictable, remember Trump saying that he wants all “remaining Bitcoin to be made in the U.S”?
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To be fair, it is kinda cool that Coinbase wants the best possible regulation for themselves. If it is as is described on X, it means we‘re up against the banks
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