Matt and Nic are back with more news and deals. In this episode: 

• Matt’s op-ed in Coindesk • SAB121 is still bad • SEC scope creep • We investigate PayPal’s stablecoin  • Why would PayPal want to issue a stablecoin?  • What does PYUSD mean for Operation Choke Point for 2.0?  • Why PYUSD is being launched on Ethereum • Crypto as a flashpoint for state versus federal banking oversight • The Fed’s new crypto oversight program • Banks still can’t issue stablecoins in the US • Ryan Salame reemerges • What will become of Ryan Salame’s restaurant empire?  • SBF will indeed be prosecuted on campaign finance violations • SBF’s trial will not be televised • LK-99 did NOT replicate

  Content mentioned in this episode: 

• Matt in Coindesk, Congress, Not the SEC, Should Set U.S. Digital Asset Policy • Zach Wong, A comprehensive explanation of SAB 121 and how it prevents safe crypto custody

Sponsor notes:
• Coin Metrics STATE OF THE NETWORK: DeFi’s Double Edged Sword - Unpacking the Features & Risks of DeFi Lending  • In our new special insights report, we utilize a balance sheet like methodology to contextualize the health of DeFi lending protocols through the lens of two recent exploits on Aave and Curve Finance