White House Continues to Negotiate Over Crypto Market Structure Bill
Key Takeaways
- The White House is pushing for a compromise on the contentious issue of stablecoin yields in the emerging crypto market structure bill.
- A recent high-level meeting at the Eisenhower Executive Office Building brought together crypto industry representatives and Wall Street bankers to bridge regulatory gaps.
- Industry leaders hailed the meeting as a pivotal step, despite the lack of immediate consensus on the legislation’s specifics.
- There is a sense of urgency from the Biden administration to establish a comprehensive regulatory framework for the burgeoning digital asset market.
WEEX Crypto News, 2026-02-03 07:55:49
In the ever-evolving landscape of cryptocurrency, the White House continues to play a pivotal role. Recently, a significant meeting took place at the Eisenhower Executive Office Building, a venue synonymous with influential policymaking. This meeting brought together a diverse group of stakeholders, including representatives from the crypto industry, Wall Street bankers, and key policymakers, to address the contentious issue of yield offerings on stablecoins within the broader context of crypto market structure legislation. The urgency and complexity surrounding this legislation underscore its importance not only to industry insiders but also to everyday investors and consumers who see digital assets as an integral part of their financial strategies.
Ongoing Struggles in the U.S. Senate
The crypto market structure bill has been a challenging endeavor, struggling to gain traction in the U.S. Senate. A central point of contention is whether cryptocurrency exchanges should be permitted to offer yields or rewards on stablecoins. This issue has polarized opinions among lawmakers, regulators, and industry participants alike. While some argue that such offerings could enhance liquidity and incentivize investment, others raise concerns about potential risks to financial stability and investor protection.
The recent White House meeting was a response to the urgent need for consensus on this issue. Per reports, the Biden administration issued a directive to participants—reach a compromise on stablecoin yields by the end of the month to ensure the legislation advances without further delays. This push highlights the administration’s recognition of the cryptocurrency sector’s rapid growth and the necessity for a robust regulatory framework to oversee it.
A Critical Engagement for the Industry
The digital landscape was abuzz with reactions to the White House’s initiative. Crypto trade group Digital Chamber circulated a memo post-meeting, accentuating the session as “exactly the kind of progress needed.” Despite the immediate lack of consensus on stablecoin yields, the memo emphasized the constructive dialogue between banking and crypto authorities. It underscored the necessity of collaboration to craft policies that protect consumers and do not stifle innovation.
Cody Carbone, CEO of the Digital Chamber, echoed these sentiments. In a statement, he expressed a resolute commitment to bridging divides and ensuring legislative progress. Carbone stressed that “inaction is not an option,” highlighting the collective responsibility to shape a regulatory environment that fosters growth and innovation in the digital asset space.
In parallel, the Blockchain Association, represented by its CEO Summer Mersinger, hailed the event as “an important step forward.” Her remarks underscored the necessity of delivering bipartisan digital asset market structure legislation to the President’s desk. According to Mersinger, the conversations facilitated at the White House are vital in building consensus and ensuring Congress enacts clear and effective crypto regulations.
Achievements and Future Steps
Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, described the meeting as “constructive, fact-based, and, most importantly, solutions-oriented.” His comments reflect a genuine optimism about resolving the key policy issues hampering the progress of the crypto market structure bill. He acknowledged the breakthroughs achieved in recent months on several complex policy matters and expressed confidence in overcoming the current hurdles.
Last month, the administration underscored the urgency of passing crypto market structure legislation. A White House representative articulated a compelling case, pointing to the unrealistic expectation for a multi-trillion-dollar industry to operate without a comprehensive regulatory framework. This statement resonates with the broader sentiment within the industry and regulatory communities, emphasizing the need for clear and coherent rules to guide the cryptocurrency sector’s growth.
Brand Alignment and Additional Insights
In light of these developments, it’s crucial for entities like WEEX to align with progressive initiatives and contribute to shaping the regulatory landscape. As a key player in the industry, WEEX must emphasize transparency, compliance, and proactive engagement with policymakers to remain at the forefront of innovation and consumer trust.
Furthermore, the rapidly evolving regulatory landscape presents an opportunity for WEEX to position itself as a leader in the crypto space by advocating for regulations that protect consumers while fostering innovation. By participating in these crucial discussions and collaborations, WEEX can help ensure that future regulations strike the right balance, benefiting the industry as a whole.
FAQs
What is the current status of the crypto market structure bill in the U.S. Senate?
The crypto market structure bill has faced considerable challenges in gaining traction within the U.S. Senate. One of the key impediments is the disagreement on whether exchanges should offer yields on stablecoins, a contentious issue that has yet to be resolved among lawmakers.
Why is the issue of stablecoin yields significant in the legislation?
Stablecoin yields are significant because they represent a potential avenue for enhancing liquidity and fostering investment in the cryptocurrency sector. However, they also bring concerns regarding financial stability and investor protection, making them a focal point in legislative discussions.
How did industry leaders react to the recent White House meeting?
Industry leaders, including those from the Digital Chamber and Blockchain Association, have reacted positively to the White House meeting, viewing it as a crucial step toward effective policymaking. They emphasize the importance of continued dialogue and collaboration to achieve a regulatory framework that benefits all stakeholders.
What role does the White House play in the crypto legislation process?
The White House plays a central role in facilitating discussions and driving consensus among diverse stakeholders in the crypto legislation process. It aims to promote innovation while ensuring the protection of consumers and the financial system, thereby laying the groundwork for comprehensive regulations.
How can companies like WEEX contribute to the development of crypto regulations?
Companies like WEEX can play a significant role by promoting transparency, compliance, and proactive engagement with regulatory bodies. By participating in legislative discussions and advocating for balanced regulations, these companies can help shape a favorable environment for innovation and consumer confidence in the crypto industry.
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On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.
• Financial Performance:
Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.
Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.
Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.
• Mining Operations and Costs:
A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.
The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;
The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.
As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.
• Strategic Progress:
The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.
CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."
"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."
The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."
The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.
The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.
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· Cost of Revenue (excluding depreciation): $1.553 billion
· Cost of Revenue (depreciation): $38.1 million
· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)
· Mining Machine Impairment Loss: $81.4 million
· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million
The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.
The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.
The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.
The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.
The total annual operating costs and expenses amount to $1.1 billion.
Specifically, they include:
· Revenue Cost (excluding depreciation): $543.3 million
· Revenue Cost (depreciation): $116.6 million
· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)
· Miner Impairment Loss: $338.3 million
· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million
The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.
The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.
As of December 31, 2025, the company's key assets and liabilities are as follows:
· Cash and Cash Equivalents: $41.2 million
· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million
· Miner Net Value: $248.7 million
· Long-Term Debt (related party): $557.6 million
In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.
As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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