House Hearing Questions Treasury on Bailing Out Bitcoin and Bank Mandates (2026-02-04)

U.S. Treasury Secretary Scott Bessent faced probing questions at a House Financial Services Committee hearing on February 04, 2026, regarding whether the Treasury could “bail out” Bitcoin or order U.S. banks to buy the cryptocurrency. Bessent denied authority for either action, describing the inquiry as a matter of clarifying what “bailing out Bitcoin” entails. The hearing also centered on ethical concerns over a potential stake by a UAE entity in World Liberty Financial, a Trump family–owned crypto bank. Treasury defended the Office of the Comptroller of the Currency’s independence in reviewing the matter. Following the hearing, Bitcoin mining stocks declined as the price of Bitcoin fell about 20% in a week, reflecting broader market caution about the sector amid regulatory uncertainty.