The Independent Community Bankers of America (ICBA) is actively opposing Coinbase's bid to establish a federally regulated trust bank, citing potential risks to the traditional financial system. In a letter to the U.S. Office of the Comptroller of the Currency, the ICBA voiced strong concerns regarding Coinbase's application through a subsidiary. The ICBA argues that allowing Coinbase's subsidiary to operate a trust could expose traditional finance to unverified aspects of cryptocurrency custody. They emphasize the inherent volatility of the crypto market, questioning the trust's ability to maintain profitability during downturns. This opposition highlights the ongoing debate surrounding the integration of cryptocurrency services within established banking structures and the potential for regulatory challenges. The ICBA is clearly acting to safeguard its community banks. ```