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Empire

Why SAB-121 is Massive for Crypto | Round Up

May 17, 2024
Blockworks' Senior Reporter Casey Wagner joins Santi and Jason to discuss the bipartisan SAB-121 vote, the $25M MEV exploit, GameStop's resurgence, Pump.Fun drama, valuing L1/L2 blockchains, insights from DBA's research day, and favorite youtube comments. The conversation covers political dynamics, crypto exploits, innovative technologies, margin finance, revenue streams in blockchain, and value creation in the Ethereum ecosystem.
01:05:45

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • SAB-121 mandates custodians to reflect crypto assets on balance sheets, posing accounting challenges for the industry.
  • The MEV exploit involving Anton and James Boyno raises concerns over false signatures and legal consequences.

Deep dives

SEC SAD 121 Resolution Overview

The podcast episode delves into the SEC's SAD 121, a background policy inspiring Joint Resolution 109 passing in the House and Senate, with bipartisan support surprising many. SAD 121 mandates custodians to reflect crypto assets on balance sheets, posing accounting challenges and raising concerns over the SEC's publishing methods, impacting custody and banking in the crypto industry.

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