According to ChainCatcher, sources close to the Trump administration revealed that the White House is considering withdrawing its support for the Cryptocurrency Market Structure Act entirely if Coinbase does not return to the negotiating table to reach a revenue agreement that satisfies banks and facilitate a final deal.
Sources say the White House is furious about Coinbase's unilateral action on Wednesday, calling it a "sudden change of heart" that affected the White House and the entire industry without prior notice. The White House believes that a single company cannot represent the entire industry and emphasizes that the bill ultimately belongs to President Trump, not Brian Armstrong.
