Coinbase Global and Robinhood Markets stock were down slightly Friday after plunging in the previous session and moving out of step with Bitcoin’s recent rally.Both stocks fell in early market trading.

The White House is considering pulling its support for the crypto market bill after Coinbase withdrew their backing, delaying progress on the CLARITY Act.

Coinbase rejected the CLARITY Act, triggering a crypto stock crash. Circle, Robinhood, and Coinbase fell over 6% as Senate postponed the bill vote.

Coinbase CEO Brian Armstrong said the exchange cannot support the Senate Banking Committee’s latest draft of the CLARITY Act, warning that the bill, as

Coinbase faces backlash after pulling support for the CLARITY Act, as critics claim the move is driven by competition fears.

Coinbase, founded in 2012 by Brian Armstrong, could soon expand its business into stocks after more than a decade of providing digital asset services. Stocks

Coinbase may drop support for the CLARITY Act if it limits its lucrative stablecoin reward programs. Coinbase, one of the largest U.S.-based crypto exchanges, may withdraw its support for the CLARITY Act if the bill imposes restrictions on stablecoin reward programs, according to a Bloomberg report.

Citron Research publicly criticized Coinbase for pulling support from a key US crypto market structure bill and threw its weight behind tokenization firm Securitize. Securitize was in the news late last year after securing a SPAC deal that valued the firm at $1.