Crypto Daily: White House may pull bill; Anchorage raise; Riot up
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Here are the latest developments affecting Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation.
Today: the White House is weighing whether to withdraw support for a crypto market structure bill after Coinbase ended its backing; Anchorage Digital is seeking to raise $200 million to $400 million and considering a potential IPO next year; and shares of Riot Platforms rose after the miner sold Bitcoin to finance an expansion in Texas.
White House may withdraw support for crypto bill after Coinbase dispute: Report
The White House is considering retracting support for a crypto market structure bill following Coinbase’s decision to pull its backing, Fox Business reporter Eleanor Terrett said Sunday on X, citing a source close to the Trump administration.
Terrett reported that officials were angered by Coinbase’s move, describing it as a “unilateral” decision that caught the administration off guard. “The White House is said to be furious with Coinbase’s “unilateral” action on Wednesday, which it apparently was not notified of in advance, calling it a “rug pull” against the White House and the rest of the industry,” she wrote.
The source added that the administration could abandon the bill unless Coinbase resumes negotiations and agrees to a compromise on stablecoin yield provisions that would satisfy banking interests. “This is President Trump’s bill at the end of the day, not Brian Armstrong’s,” the source said, according to Terrett.
Anchorage Digital targets $400M raise, explores potential IPO: Report
Institutional crypto platform Anchorage Digital is seeking to raise between $200 million and $400 million and is evaluating a potential initial public offering as soon as next year, Bloomberg reported Friday, citing people familiar with the matter who requested anonymity.
Anchorage’s affiliate, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021 and is positioned to support stablecoin issuance and related services following the passage of the GENIUS Act in July.
Anchorage CEO Nathan McCauley said in September that he planned to double the company’s stablecoin team over the next year to accommodate anticipated growth in digital dollars.
“2025 was our year of scale. We made a series of acquisitions, inked major partnerships, and launched new business lines like stablecoin issuance to solidify our lead in institutional crypto,” an Anchorage spokesperson told Bloomberg.
Among those partnerships was Tether, the issuer of USDT, with plans announced in September to launch a USAT token in the United States.
Riot Platforms shares climb 11% after Bitcoin sale finances Texas purchase
Shares of Riot Platforms rose more than 11% after the Bitcoin miner said it sold BTC to help finance a land acquisition in Texas.
In a Friday notice, Riot said a $96 million agreement for 200 acres in Rockdale, Texas, was funded entirely by the sale of about 1,080 Bitcoin (BTC). The company also signed a data center lease and services agreement with Advanced Micro Devices (AMD), initially deploying 25 megawatts (MW) of critical IT load capacity.
“These results mark a pivotal moment that cements Riot’s position as a leading data center developer, less than twelve months since the launch of our formal process to evaluate our assets for AI/HPC use,” said Riot CEO Jason Les.
Riot said the initial 10-year term could generate about $311 million in revenue, with potential to reach $1 billion if three five-year extensions are exercised. Its shares on the Nasdaq under the ticker RIOT rose to $18.80 on the announcement, an 11% gain in early trading Friday.
The Texas transaction followed the company’s disclosure last week that it sold 1,818 BTC in December as part of a strategy shift from mining toward leveraging its data center infrastructure for other applications, including artificial intelligence. Riot reported holding 18,005 BTC as of Dec. 31, worth more than $17 billion at the time of publication.
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