Brian Armstrong Says White House Remains Supportive of Crypto Market Structure Bill Amid Rumors

Coinbase CEO Brian Armstrong has pushed back against reports suggesting that the Trump administration is considering withdrawing its support for a major crypto market structure bill, emphasizing instead that the White House has been actively engaged and constructive in ongoing discussions. His comments aim to calm growing concerns across the cryptocurrency industry following recent speculation and political uncertainty.

The rumors gained traction after crypto journalist Eleanor Terrett claimed in a post on X that the White House might pull its backing for the bill if Coinbase failed to return to negotiations with a yield agreement acceptable to major banks. According to the report, a source close to the Trump administration suggested that bank concerns were central to the administration’s stance on the legislation.

Armstrong responded publicly, clarifying that the administration has not threatened to abandon the bill. Instead, he said the White House asked Coinbase to explore potential compromises with banks as part of broader negotiations. Armstrong highlighted that these discussions are focused on supporting community banks, which he noted are often excluded from major digital asset policy debates.

In his social media post, Armstrong stated that Coinbase is actively developing ideas to help community banks benefit from the crypto market structure bill. He suggested that these efforts align with the broader intent of the legislation and promised more details in the near future. His remarks indicate that negotiations remain ongoing rather than stalled.

Tensions between the banking sector and the crypto industry escalated after Coinbase unexpectedly withdrew its support for the bill last week, despite having invested heavily in lobbying efforts. The move triggered widespread uncertainty and fueled claims that banks were attempting to weaken or block the legislation to protect their competitive position.

The fallout was swift. A U.S. Senate hearing on the crypto market structure bill was canceled less than a day before it was scheduled, underscoring the fragile state of negotiations. However, Armstrong’s latest comments suggest that lawmakers and the White House are still seeking common ground between crypto firms and banks, rather than abandoning the effort altogether.

For now, Coinbase’s position indicates that collaboration—not conflict—remains the administration’s preferred path forward on crypto regulation in the United States.