Sources: If Coinbase fails to propose a viable plan to return to negotiations, the White House may consider withdrawing its support for the cryptocurrency market structure bill

According to reporter Eleanor Terrett, the White House is considering completely withdrawing its support for the cryptocurrency market structure bill unless Coinbase returns to the negotiating table and proposes a yield agreement that satisfies the banking sector. A source close to the Trump administration revealed that the White House is angry about Coinbase's "unilateral" action on Wednesday without prior notice, calling it a "sudden reversal" for both the White House and the entire industry. The source emphasized that the White House believes a single company cannot represent the entire crypto industry, stating, "Ultimately, this is President Trump's bill, not Brian Armstrong's bill."