Newscasts - Crypto Weekly: Surprise Coinbase loss, Bessent wants new rules

Yamaha

19/02/2026 11:33

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_tj2fvser&referenceId=tag:reuters.com,2026:newsml_RW653918022026RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: From a surprise loss for Coinbase to Scott Bessent's call for a speedy new rules, Francis Maguire rounds up the crypto stories making headlines.

Short Link: https://lseg.group/4kMoWJm

Video Transcript:

From a surprise loss for Coinbase to Scott Bessent's legal call, this is Crypto Weekly. Coinbase 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 wide-ranging digital asset sell-off. 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. US 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 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. Crypto company Nexo has relaunched in the US 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 US 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 postponed its US 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 to $364 million. The firm told Reuters it aims to revisit the listing at a later time.