How the Genius Act impacts Bitcoin’s future, why the Stablecoin gold rush might end in tears, and how Bitcoin could become a liquidity sink amid Trump’s inflationary gamble.

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Episode Links:

• President Trump Signs GENIUS Act—Industry Leaders Respond – The White House (https://www.whitehouse.gov/videos/president-trump-signs-genius-act-industry-leaders-respond/)

• Assume The Position. by Arthur Hayes (https://cryptohayes.medium.com/assume-the-position-823ed2cf3c75)

• 4 Million US Merchants Could Soon Accept Bitcoin Payments (https://beincrypto.com/jack-dorsey-square-bitcoin-payments/)

• IMF report implies that Bukele is lying about bitcoin purchases (https://stacker.news/items/1049922)

• El Salvador: 2025 Article IV Consultation, First Review Under the Extended Fund Facility (https://www.imf.org/en/Publications/CR/Issues/2025/07/15/El-Salvador-2025-Article-IV-Consultation-First-Review-Under-the-Extended-Fund-Facility-and-568621)

• f it didn’t stop when the world ostracized us and most “bitcoiners” abandoned us, it won’t stop now, and it won’t stop in the future. Proof of work > proof of whining“ (https://xcancel.com/nayibbukele/status/1897019629702410551)

• Electrum 4.6.0 released (https://github.com/spesmilo/electrum/releases/tag/4.6.0)

• Alby Hub v1.18 is now live! (https://x.com/getalby/status/1945849199423295977?t=E9EIlRX-vHxbQ8g23lQU3A)

• Alby Bitcoin Payments MCP — Bitcoin Payments for your AI Agent (https://getalby.com/ai)

• The Jack Mallers Show (https://podcastindex.org/podcast/6455325)

• President Trump Plans To Open 401(k)s To Bitcoin, Crypto, Gold, And Private Equity (https://bitcoinmagazine.com/news/president-trump-plans-to-open-401ks-to-bitcoin-crypto-gold-and-private-equity-ft)

• Bitcoin Whale Moves 1.26 Billion After Years of Dormancy (https://coinmarketcap.com/academy/article/bitcoin-news-bitcoin-whale-moves-126-billion-after-years-of-dormancy)

• Block’s S&P 500 Inclusion May Increase Investor Exposure to Bitcoin and Support Mainstream Adoption (https://en.coinotag.com/blocks-sp-500-inclusion-may-increase-investor-exposure-to-bitcoin-and-support-mainstream-adoption/)

• BTC miner MARA to raise $1 billion for new Bitcoin purchases (https://www.cryptopolitan.com/btc-miner-mara-to-raise-1-billion/)

• Treasury Secretary Bessent calls for a review of ‘the entire’ Federal Reserve (https://www.cnbc.com/2025/07/21/treasury-secretary-bessent-calls-for-a-review-of-the-entire-federal-reserve.html)