Coinbase CEO Brian Armstrong has expressed confidence that a balanced regulatory framework for cryptocurrency markets can be achieved through ongoing discussions with the White House and banking sector. Armstrong stated the company is working toward a structure that aligns with the President's crypto agenda while addressing banking sector concerns, aiming for a "win-win-win" outcome for the White House, banks, and crypto firms.
Coinbase has attended two recent White House meetings on crypto policy, with Armstrong describing the broader industry as aligned in its goals. The talks are focused on finding common ground to provide regulatory clarity and protect consumer benefits, such as rewards programs. "I'm confident we can achieve a market structure win-win that advances the President's crypto agenda while addressing the concerns of the banks," Armstrong stated on social media, adding that Coinbase's focus remains on advocating for what's best for crypto users.
The push for market structure clarity comes as the GENIUS Act, passed six months ago, is being re-litigated, a process Armstrong warned "deeply impacts our customers" and creates operational challenges due to regulatory uncertainty. Coinbase has supported market structure reform for years, with Armstrong noting, "We were the first ones fighting for market structure before it was popular, and we're staying at the table."
Meanwhile, broader market conditions present a challenging backdrop. Coinbase reported a surprise quarterly net loss of $666.7 million for Q4 2025, as transaction revenue plunged from $1.56 billion to $982.7 million year-over-year due to weaker trading volumes. Bitcoin prices have declined, trading around $66,544 at the time of reporting—nearly half its October peak—partly due to new U.S. tariffs on Chinese imports raising export control concerns. Bitcoin ETFs have also faced significant outflows, with nearly $3.5 billion in withdrawals in November, over $1 billion in December, and more than $1.6 billion in January.
On the regulatory front, the Commodity Futures Trading Commission (CFTC) has formed a new innovation committee to shape an agenda for emerging technologies like blockchain and AI in markets. The committee includes industry leaders from Ripple, Coinbase, Kraken, Gemini, and Nasdaq.
