On February 18, 2026, Chairman Paul S. Atkins and Commissioner Hester M. Peirce of the Securities and Exchange Commission (“SEC”) delivered joint remarks at ETHDenver, outlining both the significant regulatory steps the SEC has taken over the past year and its agenda for the months ahead to provide additional regulatory clarity regarding digital assets. The speech, entitled “Number Go Down and Other Schadenfreude,” takes its name from two themes addressed by the speakers: the recent decline in cryptocurrency prices (an inversion of the crypto community’s hopeful “number go up” rallying cry) and, of course, the German term for taking pleasure in the misfortune of others. Commissioner Peirce referred to this when commenting on critics reveling in the recent market downturn. The speech suggests that market participants should instead focus on the durable regulatory frameworks being created that promote innovation. The full text of the speech is available here.
