Sergey, if this was the early internet era, what year would crypto be in. I would say 9798 something like that. Really.Yeah. Yeah. Let me explain.Today I sit down with leader in the crypto space and co-founder of Chain Link, Sergey Nazerov. And it's really just the beginning. who was in the room where it happened as President Trump signed the Genius Bill.This afternoon, we take a giant step to cement American dominance of global finance and crypto technology as we sign the landmark Genius Act into law. So, ...

President Trump today signing the landmark Genius Act into law. It's the first major piece of crypto legislation in US history. The bill boosting crypto further into the mainstream now offering a regulatory framework for a so-called stable coin in the economy.This is the Trump administration prepares to potentially sign another groundbreaking executive order paving the way for 401k retirement saving plans to invest in private assets. We're going to explain all this. So, what could these changes mean for you ...

Crypto Industry & Political Landscape - Crypto industry views the passage of stablecoin bill as a significant win, particularly celebrating by President Trump [1][6] - Crypto companies like Coinbase, Ripple, and Andre Horowitz have donated approximately $200 million to a bipartisan PAC in the 2024 election [2] - The bipartisan PAC currently possesses a $141 million war chest intended for use in the midterms [3] - Bipartisan momentum is crucial for the passage of a broader digital asset market structure bill, which is highly desired by crypto companies [3][4] Legislative Challenges & Future Outlook - While the stablecoin bill is nearing enactment, the broader digital asset market structure bill faces challenges in the Senate, requiring collaboration between the Senate and the House, and Democratic support [4][5] - Optimistic projections suggest potential progress on the broader bill near the end of September, with possible passage in October, but the process is subject to unforeseen obstacles [5] - A key issue during legislative negotiations was preventing the Federal Reserve from creating a central bank digital currency [9] US Competitiveness & Dollar Dominance - Concerns about the US falling behind in the crypto space have been used to advocate for a clear regulatory structure, emphasizing job creation and attracting companies to the US [10] - The narrative of strengthening the dollar and preventing the loss of its reserve currency status played a role in gaining President Trump's support for crypto legislation [7]

Joining us now is Dave Ripley. He's the co-CEO of Kraken. Dave, what's the significance of this day for you.Welcome. Yeah. Well, thanks for having me.So, uh, you know, this is a historic day, long time coming. It's been a long journey. Uh, you know, I first started, uh, coming out to DC many years ago, talking about the regulatory environment, talking about a day like today where we would actually have some clarity. Uh, and it's frankly a testament to individuals like Senator Hagerty who I first met many ye ...

Joining us now, New York University School of Law adjunct professor Max Raskin. Max has taught a cost a course on digital currencies at NYU for nearly a decade. He's been looking into Bitcoin for longer than that as he was on another network with me back in 2012 talking about Bitcoin.The only the only person who was talking about Bitcoin then. And you say now this is really liberation day. Why.Yeah, this is a really important uh this is a really important moment and Trump has really demonstrated that he's t ...

Crypto Regulation & Legislation - The House of Representatives is moving forward with voting on three crypto regulation bills: the Genius Act (stablecoin legislation), the Clarity Act (market structure bill), and an anti-CBDC bill [1][4][6] - The Genius Act, having already passed the Senate, is poised to potentially become the first standalone crypto measure signed into law, possibly by the end of the week [4][17][20][21] - The Clarity Act aims to establish clear rules for when a digital asset is considered a security (overseen by the SEC) versus a commodity (overseen by the CFTC) [4][27] - The industry spent tens of millions of dollars to elect pro crypto candidates [5] - There are disagreements among lawmakers regarding the best approach to passing crypto legislation, with some advocating for merging bills [5][17][19] Market & Company Developments - Bitcoin traded below $119,000, Ether gained nearly 5.5% to trade above $3,400, and XRP gained 9% to cross $3 [2] - Coinbase is launching a new "everything app" that combines wallet functions with social media messaging and support for various apps, aiming to diversify revenue streams [9] Potential Impacts of Regulation - Passage of stablecoin legislation is expected to encourage significant investment in the crypto space within the US, fostering innovation and protecting consumers [21][22][23] - Clear regulations are anticipated to attract both human and financial capital to the US for blockchain and Web3 technology development [31]

Regulatory Landscape - Three crypto bills are under consideration, with one potentially heading to Trump's desk this week [1] - Republican members are concerned that prioritizing the stable coin bill could jeopardize the passage of a larger bill on digital asset market structure [2] - Disagreement exists regarding the optimal approach for passing these bills [2] Legislative Process - A key procedural vote failed due to opposition from approximately a dozen Republicans [1] - Republican leadership is currently regrouping and engaging with members, with a potential revote expected later this afternoon [2] - Concerns are rising that failure to resolve the procedural vote could impede progress on the actual bill votes later this week [3] Industry Impact - This week is considered a crucial period for the crypto industry and lawmakers advocating for these bills [3] - The industry is facing uncertainty as the progress of the crypto bills is being stalled [3]

Legislative Developments - A procedural vote on a rule that included crypto bills failed in the House, impacting plans for a "crypto week" [1][2] - The failure introduces uncertainty regarding the passage of stablecoin legislation and a broader market structure bill [4] - Concerns voiced by some lawmakers, like Congresswoman Marjorie Taylor Green, relate to the bills' insufficient prevention of a central bank digital currency [2][3] - Republican leaders may need to reassess their strategy to advance the crypto bills, potentially delaying them [4] - The market structure bill, defining digital assets as securities versus commodities, faces further hurdles in the Senate, with potential passage delayed until the fall [7][8] Market Reaction - Bitcoin experienced a slight sell-off following the news [5] - Robinhood's stock decreased by approximately 2% [5] - Coinbase's stock was significantly impacted, declining by 45% [10] Bill Details - One bill focused on stablecoins was expected to pass, with the White House planning a signing ceremony [6] - Another bill addresses market structure, aiming to clarify when a digital asset is a security versus a commodity [7]

Market Trends & Bitcoin Performance - Bitcoin hit a new all-time high, briefly crossing $123,000 [1] - Ether climbed more than 0.5% to $3,000, and XRP rose nearly 4% [2] - Bitcoin's rise is attributed to strong ETF inflows and US lawmakers' moves towards clearer regulation [2] - Bitcoin ETFs collectively hold over $140 billion, with BlackRock's fund nearing $90 billion in about a year [3] - The expiration of options contracts at the end of Q2 removed downward pressure on Bitcoin [4] - Short sellers being "blown out" contributed to Bitcoin's price discovery phase [5] Regulatory Landscape & Stablecoins - The House of Representatives is debating the Clarity Act, the Genius Act (stablecoin regulation), and the Anti-CBDC Surveillance State Act [7] - Some House Democrats are opposing the Clarity and Genius Acts, labeling this week "anti-cryptocorruption week" [8] - Circle's shares have increased by over 530% since its IPO on June 5th, driven by anticipation of stablecoin regulation in the US [10] - Stablecoins are expected to play a key role in the future of money movement, potentially reaching trillions of dollars in value [9] Crypto Treasury Strategies - Panta Capital launched a new fund focused on digital asset treasury-related investments [13] - Panta Capital has invested in Bitmine, which is pivoting to make ETH its primary treasury asset [14] - Panta Capital has received 70 to 80 pitches from teams pursuing digital asset treasury strategies in the last 3 months and has made six investments [21][23] - Institutional investors are primarily interested in Bitcoin, ETH, and Solana for digital asset treasury strategies [24] - A billion-dollar public float company is likely needed to tap the convertible debt market for digital asset treasuries [26]

Tariffs and Trade - The US President has increased tariffs by approximately $167 billion, a 60% increase from before [2] - The market views the tariffs as a way to pressure the EU and China to finalize trade deals before deadlines [3] - The US government needs to be cautious about tariffs, as excessive tariffs, such as $700 billion previously, can lead to backlash [4] - The US aims to secure deals with major countries before August 1st [5] Liquidity and Crypto - Raising the debt ceiling reduces liquidity, prompting the Treasury to adjust its financing strategies [6] - Treasury is delaying refilling the Treasury General Account, changing supplemental leverage ratio rules, increasing buybacks, and issuing more T-bills [7] - Stable coin legislation could create an additional $800 billion in T-bill demand [7] - Bitcoin serves as a means to circumvent capital controls in certain countries [8]