Nic and Matt are back for a truly chaotic week in the markets. In this episode:  Is DeFi's transparency a vice?  We reconsider the need for a lender of last resort?  We debrief on Consensus How will the Celsius situation resolve? Fidelity doubles down on digital assets Is the Fed trapped by inflation?  Was the Celsius situation foreseeable?  Where does the next marginal buyer come from?  Another crypto lender goes down  Class action lawsuit launched against Binance US Circle is launching Euro coin  Bill Gates dances on our grave  Content mentioned in this episode:  All Falls Down, by Nic Carter and Allen Farrington [pdf] On Impossible Things Before Breakfast, by Nic Carter, Allen Farrington, and Ross Stevens  Sponsor notes: Subscribe to the Coin Metrics State of the Network newsletter