Crypto Weekly: Surprise Coinbase loss, Bessent wants new rules

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Thu, February 19, 2026 at 8:30 PM GMT+9

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STORY: From a surprise loss for Coinbase to Scott Bessent’s legal call, this is Crypto Weekly.:: Crypto Weekly:: Coinbase posts surprise lossCoinbase posted a surprise quarterly loss of just over $666 million - its first decline in three years.The crypto exchange was hit by weaker trading volumes due to a wideranging digital-asset selloff.Digital assets slumped in the final three months of last year, with bitcoin plummeting from October’s record high.Sentiment around the sector has stayed largely downbeat and hurt Coinbase trading desks.:: Bessent wants new crypto rules soonU.S. Treasury Secretary Scott Bessent wants to see federal rules for digital assets soon.He said it was important for Congress to pass a bill President Trump can sign into law this spring.Bessent said the so-called ‘Clarity Act’ would give “great comfort to the market” at a time of high volatility.He added crypto firms have tried to block the legislation, but there is a bipartisan group of lawmakers who want to get it passed. :: eToro beats but raises bitcoin questionseToro beat estimates for fourth-quarter profit.The stock and crypto platform saw strong capital market activity drive up trading income.Net income rose 43% to $115.6 million as investors rotated between crypto and traditional asset classes.Commodities performed strongly - with investors questioning if gold’s rally means it’s overtaken bitcoin as the preferred inflation hedge in crypto portfolios.:: Nexo makes U.S. returnCrypto company Nexo has relaunched in the U.S.It comes three years after it left the country and paid a $45 million fine following clashes with regulators.Nexo co-founder Antoni Trenchev hosted the U.S. president’s eldest son Donald Trump Jr. at a business event in Bulgaria last April.Trenchev also had lunch with President Trump last year, where Nexo was the lead sponsor of a golf championship.:: Clear Street delays IPOClear Street postponed its U.S. initial public offering.The Wall Street broker cited ‘market conditions’ and became the second delayed listing in a week due to market volatility.Clear Street had already slashed its original target of raising more than $1 billion down to $364 million.The firm told Reuters it aims to revisit the listing at a later time.

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