Matt and Nic are back with more news and deals. In this episode:  Matt's op-ed in Coindesk SAB121 is still bad SEC scope creep We investigate PayPal's stablecoin  Why would PayPal want to issue a stablecoin?  What does PYUSD mean for Operation Choke Point for 2.0?  Why PYUSD is being launched on Ethereum Crypto as a flashpoint for state versus federal banking oversight The Fed's new crypto oversight program Banks still can't issue stablecoins in the US Ryan Salame reemerges What will become of Ryan Salame's restaurant empire?  SBF will indeed be prosecuted on campaign finance violations SBF's trial will not be televised LK-99 did NOT replicate   Content mentioned in this episode:  Matt in Coindesk, Congress, Not the SEC, Should Set U.S. Digital Asset Policy Zach Wong, A comprehensive explanation of SAB 121 and how it prevents safe crypto custody Sponsor notes: Coin Metrics STATE OF THE NETWORK: DeFi’s Double Edged Sword - Unpacking the Features & Risks of DeFi Lending  In our new special insights report, we utilize a balance sheet like methodology to contextualize the health of DeFi lending protocols through the lens of two recent exploits on Aave and Curve Finance