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

• The problem with SEC SAB 121
• Pickleball is driving up American healthcare costs
• Microstrategy buys some more Bitcoin
• Fidelity refiles their Wise Origin Bitcoin ETF
• Why the Prime Trust insolvency is so bad
• Will there be Prime Trust clawbacks?
• The SEC is slacking with their document retention policies
• How stablecoins are mirroring the development of eurodollars
• How Prometheum’s listing strategy might pose a risk to certain cryptoassets
• The UK law commission determines that digital assets are a new kind of “thing”

Content mentioned in this episode:

• SEC Staff Bulletin 121
• Odd Lots, Josh Younger on the Surprising Origins of Eurodollars and Petrodollars
• Laura Shin Podcast, Paradigm debates Prometheum
• The UK Law Commission: Final Report on Digital Assets

Sponsor notes: 

• Coin Metrics’ State of the Network: Bitcoin & the Rest 
• In this issue of State of the Network, we assess Bitcoin’s resurgence and gauge market sentiment amidst a rapidly evolving digital asset landscape marked by regulatory ambiguity and external macro events.