Senate to Vote on Crypto Bill, Traders Overlook Geopolitical Risks | Bloomberg Crypto 1/13/2026

Summary

This edition of Bloomberg Crypto leads with the Senate Banking Committee's release of a roughly 274-page crypto market structure bill ahead of Thursday's markup, where the treatment of stablecoin rewards is the key flashpoint; Coinbase policy chief Kara Calvert says the industry needs a bipartisan framework but won't say whether Coinbase supports the bill as written. Bitwise's Ryan Rasmussen argues bitcoin is finding its footing as a macro/geopolitical hedge and should post a positive 2026 on institutional adoption, calls regulatory clarity a net positive, and touts prediction markets as a growth driver for blockchain infrastructure such as Chainlink. The show closes with BitGo's planned IPO, expected to be the first crypto listing of 2026.

• Senate Banking Committee released a roughly 274-page crypto market structure bill; Thursday's markup centers on stablecoin rewards, with Democratic pushback on ethics issues.
• Coinbase's Kara Calvert frames stablecoin rewards as a fight with big banks over the payments system and won't yet say if the bill is good or bad for Coinbase.
• Bloomberg Government's Zach Cohen says the bill will keep changing and must be reconciled with the House-passed Clarity Act.
• Bitwise's Ryan Rasmussen forecasts a positive 2026 for bitcoin, driven by ETF/wirehouse institutional adoption and regulatory clarity.
• Rasmussen says bitcoin has shrugged off Fed, Venezuela and Iran headlines because it is doing its job as a macro, fiscal and geopolitical hedge.
• Rasmussen sees prediction markets (Polymarket) as a net positive for crypto and a driver of infrastructure usage, naming Chainlink.
• BitGo is expected to be the first crypto IPO of 2026, aiming to raise more than $200 million after reporting a profit in the first nine months of 2025.