Popular journalist Eleanor Terrett reported earlier today that the Trump administration is considering withdrawing its support for the cryptocurrency market structure bill entirely if Coinbase doesn\u2019t return for negotiations.<\/p>\n
The exchange and its CEO blamed banks for intervening and pushing for changes that prevent or limit users from earning yields on stablecoins. However, other industry experts disagreed.<\/p>\n
By citing a source close to the Trump administration, Terrett said the White House expects Coinbase to return with a more suitable agreement that \u201csatisfies the banks and gets everyone to a deal.\u201d<\/p>\n
She explained that the administration is \u201csaid to be furious\u201d with the exchange\u2019s \u201cunilateral\u201d decision on Wednesday, as they reportedly didn\u2019t notify in advance. Moreover, the White House reportedly called the move a \u201crug pull\u201d against it and the rest of the crypto industry.<\/p>\n
SCOOP: The White House is considering pulling its support for the crypto market structure bill entirely if @coinbase<\/a> 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.\u2026<\/p>\n \u2014 Eleanor Terrett (@EleanorTerrett) January 17, 2026<\/a><\/p>\n\n The source further asserted that this is \u201cPresident Trump\u2019s bill at the end of the day, not Brian Armstrong\u2019s.\u201d<\/p>\n Recall that Coinbase pulled its support earlier this week after blaming banks for implementing too many changes that tend to limit users from earning yields on stablecoins. CEO Armstrong outlined numerous issues with the current draft, including:<\/p>\n \u2013 A de facto ban on tokenized equities<\/p>\n \u2013 DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy<\/p>\n \u2013 Erosion of the CFTC\u2019s authority, stifling innovation, and making it subservient to the SEC<\/p>\n \u2013 Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition<\/p>\n Coinbase\u2019s decision caused a lot of controversy outside and inside the cryptocurrency industry. While some experts, such as Ripple\u2019s Brad Garlinghouse, remained mostly on the sidelines, others, such as Citron Research, directly blamed<\/a> Armstrong for undermining the bill.<\/p>\n They argued that Coinbase\u2019s official reasoning shows fear of competition from tokenized securities firms, as it seeks to benefit from regulatory clarity without opening the door to rivals.<\/p>\n The Senate Banking Committee postponed its scheduled markup of the bill on January 15, and no new date has been set yet.<\/p>\n The post Crypto Bill at Risk: White House Reportedly \u2018Furious\u2019 with Coinbase<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Popular journalist Eleanor Terrett reported earlier today that the Trump administration is considering withdrawing its support for the cryptocurrency market structure bill entirely if Coinbase doesn\u2019t return for negotiations. The exchange and its CEO blamed banks for intervening and pushing for changes that prevent or limit users from earning yields on stablecoins. However, other industry […]<\/p>\n","protected":false},"author":0,"featured_media":127874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-127873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/127873"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127873"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/127873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/127874"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Undermining the Bill?<\/h2>\n