Introduction

Matt and Nic are back for another week of news and deals. In this episode:

• Tether is actually the most interventionist stablecoin when it comes to freezing
• Should we be bullish on PYUSD?
• Why stablecoin data shows meaningful utility for public blockchains
• Is the idea of a 'crypto generalist' dead?
• The meaning of the SEC's loss in court to Grayscale
• Why the SEC was 'arbitrary and capricious'
• The SEC's blunder over their approval of Futs ETFs
• The SEC's possible options
• Our guesses for how the SEC reacts to their loss
• The SEC delays other pending spot ETFs
• The SEC wins against Impact Theory
• Why the case against Impact Theory could implicate a lot of other NFT projects
• Uniswap wins a class action case
• What does the SEC's case against Binance being under seal mean?

Content mentioned:

• BH Digital, The Relentless Rise of Stablecoins
• WSJ, The SEC Strikes Out Again on Crypto With Grayscale

Sponsor notes:

• Coin Metrics STATE OF THE NETWORK — Coin Convergence: Piecing Together Common Ownership Patterns Across Major Stablecoins
• In Coin Metrics State of the Network Issue 222, we highlight trends in user behavior & common ownership across major stablecoins on Ethereum