Crypto industry leaders scrambled Thursday to salvage the market structure bill—but some conceded the bill now has lower chances of passage.

Coinbase CEO and co-founder Brian Armstrong said on Wednesday the company cannot support a draft legislation ​U.S. senators introduced earlier this week aimed at creating a ‌regulatory framework for c...

Armstrong wrote, “After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.”