Crypto lobby tightens grip on Capitol as Congress battles over market structure bill

Molly White argues Issue 99 shows Coinbase withdrawing support for the Senate’s crypto market structure bill, prompting cancellation of a markup and illustrating the crypto industry’s outsized influence over lawmakers and drafting. The piece weaves in related crises and regulatory shifts—ethics fights, enforcement moves, Trump-linked crypto ties, and high-profile incidents like Eric Adams’ NYC Token—paints a picture of a Congress increasingly reactive to industry funding and agendas, with calls for stronger consumer protections and transparency still circulating.