The Nevada Gaming Control Board has initiated a civil enforcement action against cryptocurrency exchange Coinbase over alleged unlicensed wagering activity in the state, according to a report by Cointelegraph. Coinbase is one of the largest cryptocurrency exchanges in the United States.

Senate Democrats are scheduled to hold a closed-door meeting on cryptocurrency market structure tomorrow, Cointelegraph reported, citing Fox Business journalist Eleanor Terrett. The meeting will be the first since the Senate Banking Committee postponed its markup of related legislation and comes amid ongoing congressional efforts to clarify U.S. regulatory frameworks for digital assets.

Y Combinator will allow startups to receive investments in stablecoins beginning with its Spring 2026 batch, The Block reported on Feb. 3. Any YC-backed company, not only crypto-native ventures, can opt for stablecoin payouts, said Nemil Dalal, Y Combinator's visiting partner focused on crypto. The accelerator plans to distribute funding in USDC over Ethereum, Base and Solana. YC said the move follows what it described as a regulatory inflection point in the U.S. after passage of the GENIUS Act, noting stablecoin transfers are faster and cheaper than traditional fiat channels, particularly for founders operating across borders.

Economist Robin Brooks expects Kevin Warsh, nominated by President Donald Trump for Federal Reserve chair, to implement a 100-basis-point interest rate cut before the US midterm elections, CoinDesk reported on Feb. 3. The forecast contrasts with broader market concerns that Warsh would adopt a more hawkish policy stance if confirmed to lead the central bank.

Trump and his allies raised $429 million over the past year for the midterm elections, setting a midterm-year record, the Financial Times reported on Feb. 3. Maga Inc, a super PAC controlled by Trump allies, now holds $304 million, more than any PAC in a midterm year, with a large share from the cryptocurrency and AI industries. Crypto.com donated $30 million to Maga Inc, the largest disclosed contribution, while a16z co-founders Marc Andreessen and Ben Horowitz each gave $3 million, and OpenAI co-founder Greg Brockman and his wife contributed $25 million. The SEC's investigation into Crypto.com during the Biden administration concluded in 2025, the Financial Times said.

President Trump said on Feb. 3 that the criminal investigation into Federal Reserve Chair Jerome Powell should proceed and would not be halted due to objections from within the Republican Party, BlockBeats reports. Republican Senator Thom Tillis had warned he would oppose any new Fed chair nominee, potentially stalling Kevin Warsh's nomination, if the probe is not concluded. Trump stated at the White House that federal prosecutor Jeanine Pirro, who is overseeing the case, should "find out the facts and reach a conclusion"; Powell has confirmed he is under criminal investigation and argued the accusations stem from the Fed not cutting rates as quickly as Trump wanted, stressing that interest-rate decisions are made in the public interest, with the probe centering on a costly renovation project at the Fed's headquarters and Powell's term ending in May.

The White House will hold a meeting with cryptocurrency companies and banks at 1:00 p.m. U.S. Eastern Time on Feb. 2 (2:00 a.m. Beijing Time on Feb. 3) to discuss disagreements over stablecoin yields within the CLARITY Act framework, BlockBeats reports.