Bits + Bips: Why the White House Says Crypto Must Grow in America - Ep. 951
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Hey all, before we begin, I've got some exciting news to share. We've been working on something a little wild behind the scenes. It's called Unshade On Air, a revamped livestream series and podcast feed that takes you way beyond the headlines. It features sharp, maybe even controversial, takes on major events and the kind of on chain intel that never makes it to your feed. Way more shows, way more often, each one laser focused on a different slice of crypto and finance. First up is Dex in the City, where the wallets are cold and the takes are hot with Jesse Brooks, Catherine Kirkpatrick Boz, a
Market structure, would say relative to Genius, maybe a little bit more challenging just because, you know, you look at, stablecoins, you know, 300, you know, to $400,000,000,000 of market cap. This is the remaining 90% of a $4,000,000,000,000 industry. And people recognize that this is really the the piece of legislation that addresses more stakeholders, affects more business models, goes after, you know, some of the institutional kind of legacy piping of the financial markets.
What's happening is markets are pricing in a world where the Fed isn't just ginning up liquidity. They maybe are acting responsibly or something. Right?
The institutions are definitely here. They just don't move so fast.
Hello, everybody. Welcome to Bits and Bips, where we explore how crypto and macro collide one basis point at a time. I'm your host, Austin Campbell, iScholar of Zero Knowledge Consulting, and I'm here with two of my usual compatriots, Chris, the golden hand of CoinFund, and Rob, the maester of wealth leader of Lumina. So today, I have to say we have one of our exciting guests that we've had on and one who I'm very much looking forward to hearing from, which is Patrick Witt, the exalted adviser on matters of digital fortune. So we're gonna discuss the latest in the worlds of crypto, macro, and
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Alright. Welcome back. Today, we're gonna talk market structure since we have Patrick here, and we'll start with that. So the market structure bill has been introduced into the Senate. Boozman and Booker released a draft of this. And to cover some of the main points, this greatly expands CFTC authority to regulate digital commodities, building on the House passed Clarity Act. Lawmakers have emphasized the need for adequate staffing, bipartisan commissioners, and the ability to successfully implement the expanded regulatory powers. It is a meaningful, positive step towards establishing a compre
Well, thank you for having me on. It's great to join y'all. I would say right now, we we took a big step forward. I guess it was last week with the release of the senate ag portion of the draft. Kudos to, senator Booker, engaging with chairman Bozeman, to put his name on that piece of, you know, that that draft, piece of legislation. And, you know, as anyone who looked through it, can see, there are a number of areas still open for, negotiation in the brackets, but, it was a big step forward because as we talked about with senator Booker and his staff, this is not the the finishing line. This
Is DeFi a part of this product? It was in the house version. I thought it was descoped in the senate version. I think DeFi is more than half of the point of this. So are we gonna see it, the final p
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