Crypto leaders and lawmakers meet at Trump family's World Liberty Forum: CNBC Crypto World
Watch on YouTube ↗  |  February 18, 2026 at 20:25 UTC  |  12:56  |  CNBC
Speakers
Ryan Baker — Host, CNBC Crypto World
John D'Agostino — Coinbase Institutional
Bernie Moreno — Ohio Republican Senator
Brian Armstrong — CEO, Coinbase
Donald Trump Jr. — Co-Founder, World Liberty Financial
Eric Trump — Co-Founder, World Liberty Financial
Rob Haddock — General Manager, Dragonfly Capital

Summary

  • Bitcoin has faced significant volatility, down 23% year-to-date and experiencing a "dismal February," though institutional players view recent price action as "emotional break points" rather than fundamental failures.
  • Regulatory clarity for stablecoins is accelerating; Senator Bernie Moreno predicts the "Clarity Act" could become law by April, potentially allowing yield/rewards on stablecoins, which Coinbase CEO Brian Armstrong views as a "win-win-win."
  • Smart money (Dragonfly Capital) raised $650M despite a "risk-off" environment, deploying heavily into stablecoin infrastructure, prediction markets, and payment settlement layers (specifically mentioning Visa integrations).
  • Geopolitical and criminal usage of crypto remains a headline risk, with Chainalysis reporting an 85% surge in crypto payments to human trafficking networks, while Gemini exits UK/EU/Australia to focus solely on the US.
Trade Ideas
Ticker Direction Speaker Thesis Time
BTC
LONG John D'Agostino
Coinbase Institutional
The speaker states that $100,000 was an "emotional break point" where long-term holders deleveraged, and that current volatility is driven by "emotional break points" rather than structural failure. He maintains a "long-term bullish outlook." When price drops are attributed to psychological profit-taking (deleveraging after hitting $100k) rather than a change in asset utility, the pullback represents a consolidation phase within a secular bull market. LONG. The thesis suggests the current dip is a technical reset, offering a buying opportunity for long-term horizons. Continued momentum-based selling could push prices through lower support "handles" (e.g., $80k, $60k). 0:00
LONG Rob Hadock
General Partner at Dragonfly Capital
Haddock states that stablecoins are "probably our number one place where we've put money to work," citing investments in issuers and settlement infrastructure (like Rain with Visa). Venture capital is aggressively funding the "plumbing" of financial markets. If smart money is betting on stablecoins becoming the default settlement layer for major networks like Visa, the sector (and associated infrastructure tokens) will see increased utility and volume. LONG. Follow the institutional capital flow into stablecoin infrastructure. Regulatory crackdowns or failure of the "Clarity Act" to pass. 2:45
LONG Bernie Moreno
U.S. Senator (R-Ohio)
Senator Moreno claims the "Clarity Act could become law by April" and explicitly supports "allowing rewards on stable coins." Currently, stablecoins largely do not pass yield to holders due to regulatory ambiguity. If the law changes to allow yield (interest) on stablecoins, they become superior to cash deposits for the average consumer, driving massive adoption and liquidity into the ecosystem. LONG. A legislative catalyst in April creates a specific timeframe for repricing assets related to compliant stablecoin issuance. Legislative gridlock or a watered-down bill that maintains restrictions on yield. 2:45
LONG Rob Hadock
General Partner at Dragonfly Capital
Haddock highlights "the poly markets of the world" as portfolio companies that are "growing and creating that future." Dragonfly Capital is identifying prediction markets not just as gambling venues, but as a part of the "financial revolution" they are underwriting. Institutional backing suggests this sector has staying power beyond election cycles. LONG. The sector is identified as a high-growth vertical by a major VC. Regulatory scrutiny regarding gambling laws in the US.
AVOID Ryan Baker
Host, CNBC Crypto World
Baker reports that "Galaxy shares have dropped about 22% monthtodate." The stock is suffering from significant negative momentum in a "risk-off environment." When a crypto-proxy stock underperforms even during weeks where specific assets like XRP are rising, it indicates structural weakness or lack of investor confidence. AVOID. Do not catch the falling knife until momentum stabilizes. A sudden broad crypto market rally could lift all boats, including Galaxy.