Coinbase is actively advocating for a market structure agreement to protect user rewards and address banking concerns during ongoing U.S. crypto policy discussions. CEO Brian Armstrong emphasized the need for a balanced framework that supports innovation while safeguarding consumer benefits. This push coincides with the review of the GENIUS Act, which Armstrong warns could significantly impact customers. Coinbase leaders, including Chief Legal Officer Paul Grewal, have engaged with White House officials and banking representatives to shape future regulations. Despite constructive talks, no breakthrough has been achieved yet. Meanwhile, Coinbase reported a surprise quarterly loss due to declining trading volumes, with transaction revenue dropping from $1.56 billion to $982.7 million year-over-year, resulting in a net loss of $666.7 million for Q4. The broader crypto market has also cooled, with Bitcoin trading around $66,544, nearly half its October peak, amid new U.S. tariffs on Chinese imports. The Commodity Futures Trading Commission (CFTC) has formed a new advisory panel to develop rules for blockchain and AI markets, engaging industry leaders from major crypto and financial institutions.