The top executive of the crypto exchange Coinbase scuttled a planned Senate committee vote on a major cryptocurrency bill after voicing his concerns, a sign of the company’s clout.
A planned vote on a cryptocurrency bill on Thursday was canceled after Brian Armstrong, Coinbase’s chief executive, objected to the measure in a social media post on Wednesday evening.
The crypto coin backed by Eric Adams quickly soared to a market capitalization of nearly $600 million, but then plunged after the mysterious withdrawal.
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