White House weighs withdrawing support for crypto bill after Coinbase's abrupt exit

On Wednesday, Coinbase withdrew support for the digital asset market structure bill, prompting the White House to consider pulling its backing. According to journalist Eleanor Terrett, officials labeled the move a "rug pull" and may drop support unless Coinbase re-enters talks under a yield framework acceptable to banks. Brian Armstrong cited concerns in a January 14, 2026 post.