Lee and Jimmie discuss the selection of Rep. French Hill to chair the House Financial Services Committee, Eric Trump’s UAE promise of the ‘Most Pro-Crypto President’ in history, Circle and Binance’s USDC partnership, delays in Caroline Crenshaw’s SEC nomination, the debate around ‘debanking’, the 5th Circuit’s rescission of OFAC’s Tornado Cash sanctions, and a special recognition for Jimmie.

Lee’s X: @leereiners

Jimmie’s X: @jimmie_lenz

Related Links:

Rep. French Hill wins powerful House Financial Services gavel

Eric Trump Promises the ‘Most Pro-Crypto President’ in History - The New York Times

Circle and Binance Form a Strategic Partnership to Accelerate Global USDC and Crypto Adoption | Binance Blog

Chance of All-Republican SEC Rises With Delay in Caroline Crenshaw Nomination - Bloomberg

How Crypto Insiders Turned ‘Debanking’ Into a Political Storm

Fifth Circuit Rejects OFAC’s Tornado Cash Sanctions – Publications

Top 20 2024 US Quant & Finance Professors

Lee and Jimmie discuss the nomination of Paul Atkins to run the SEC, Bitcoin breaking $100K, proof-of-concept results for the Regulated Settlement Network, a BIS report on faster payment systems vs. CBDC, and Circle becoming the first stablecoin issuer to meet new Canadian Listing Rules

Lee’s X: @leereiners

Jimmie’s X: @jimmie_lenz

Related Links

Trump Names Paul Atkins as SEC Chair - Bloomberg

Bitcoin Price Hits $100,000 for the First Time - WSJ

Members of the U.S. Financial Sector Demonstrate Feasibility of Multi-Asset and Cross-Network Settlement Using Shared Ledger Technology - SIFMA - Members of the U.S. Financial Sector Demonstrate Feasibility of Multi-Asset and Cross-Network Settlement Using Shared Ledger Technology - SIFMA

Central bank digital currencies and fast payment systems: rivals or partners? (bis.org)

Circle is the First Stablecoin Issuer to Meet New Canadian Listing Rules

Lee and Jimmie discuss Gary Gensler's pending departure from the SEC, a potential crypto czar in the Trump administration, a CFTC advisory committee recommendation on using non-cash tokenized collateral, the launch of liquidity pools to finance freight invoices, the launch of options contracts on BTC ETFs, the sentencing of FTX executive Gary Wang, MicroStrategy's "creative" use of BTC yield, and a federal district court ruling that DAO members are liable under partnership laws. 

Lee's X: @leereiners

Jimmie's X: @jimmie_lenz

Related Links

Nasdaq Poised to List Spot-Bitcoin ETF Options as Crypto Assets Rally (yahoo.com)

Bulla Finance launching onchain liquidity pools Dec. 1 (einpresswire.com)

Trump Team Considers Creating Crypto Role, First in Administration - Bloomberg

https://www.cftc.gov/PressRoom/PressReleases/9009-24

 Ex-SBF Ally Gary Wang Avoids Prison Over FTX Fraud - Bloomberg

MicroStrategy’s Magical Bitcoin Buying Machine Uses Some Wacky Math - WSJ

California judge rules DAO members liable under partnership laws (cointelegraph.com)

Lee and Jimmie discusses Gary Genser’s “farewell” speech, Hester Peirce’s warning that the SEC is not prepared to regulate crypto, Coinbase’s new crypto market index, the upcoming sentencing of Gary Wang, and the FTX estate’s lawsuit against Binance and Humpy the Whale.

Related Links:

Gary Gensler reviews accomplishments, defends crypto approach (cnbc.com)

Trump Promised Clear Crypto Regulations, but the SEC Might Not Be Prepared to Give Them - Unchained (unchainedcrypto.com)

Coinbase Launches S&P 500 for Crypto: the COIN50 Index (cryptonews.com)

Former FTX Coder Gary Wang Built Software Tool to Help US Find Fraud - Bloomberg

FTX sues Binance and former chief Changpeng Zhao for $1.8bn

Humpy the Whale Cost Crypto Exchange FTX, Alameda Research $1 Billion in Losses, Lawsuit Alleges (coindesk.com)

Jimmie and Lee dissect the election results and the impact of a second Trump administration for crypto. They also discuss Florida's plan to invest state pension assets in crypto.

Lee's X: @leereiners

Jimmie's X: @jimmie_lenz

Related Links

SEC Crypto Enforcement Slated for Major Rollback Under Trump - Bloomberg

Inspired by Trump, Florida Official Eyes State Bitcoin (BTC) Stockpile for Retirees (coindesk.com)

Lee and Jimmie discuss Nishad Singh’s sentencing in FTX case, new data from Pew on crypto ownership and sentiment, the BIS dropping out of a cross-border payments pilot, a new report on rampant wash trading in crypto, and the growth in crypto derivatives trading and platforms.

Lee’s X: @leereiners

Jimmie’s X: @jimmie_lenz

Related Links:

• Nishad Singh, a Top FTX Executive, Is Given No Prison Time After Cooperation - The New York Times
• On cryptocurrency, 63% of US adults not confident it’s safe, reliable | Pew Research Center
• BIS Steps Back From Digital Payment Project Touted by Putin - Bloomberg
• Wash Trading Remains ‘Widespread’ in DeFi, Kaiko Says - Bloomberg
• Crypto exchanges turn to derivatives to lure cautious investors

Lee and Jimmie discuss federal investigations of Tether, the release of a Binance employee wrongfully detained in Nigeria, Stripes acquisition of Bridge, a BIS report on tokenization, and the G20’s status report on implementing crypto regulations.

 Related Links:

• Exclusive | Federal Investigators Probe Cryptocurrency Firm Tether - WSJ
• Charges Dropped in Case Against Binance Employee Held in Nigeria - The New York Times
• Stripe acquires stablecoin platform Bridge for $1.1 billion in crypto's largest acquisition: TechCrunch founder | The Block
• Press release: Report for the G20 on tokenisation highlights the opportunities, risks and future considerations for central banks
• G20 Crypto-asset Policy Implementation Roadmap: Status report - Financial Stability Board

Lee and Jimmie discuss TD Bank’s record fine for money laundering violations, a new paper on the relationship between money market funds and stablecoins, the launch of Trump’s World Liberty Financial, the Ethereum rollup-centric roadmap, and Vice President Harris’ appeal to crypto-owning black men. 

Lee’s X: @leereiners

Jimmie’s X: @jimmie_lenz

Related Links:

TD Bank hit with record $3 billion fine over drug cartel money laundering, source says | CNN Business

Stablecoins, money market funds and monetary policy (bis.org)

Everything About Trump's World Liberty Financial Token as Sale Attracts Millions in Minutes (coindesk.com)

Vitalik Buterin Wants Ethereum to Hit 100K Transaction Per Second With Rollups (coindesk.com)

Vice President Kamala Harris vows to support a crypto regulatory framework in plan to support Black men | The Block

Lee and Jimmie discuss the FBI's sting operation involving their own token and related civil and criminal charges against crypto "market makers," the SEC's civil charges against Cumberland DRW, a new documentary claiming to identify Satoshi Nakamoto, and Crypto.com's lawsuit against the SEC.

Related Links:

Prosecutors Charge Four Crypto ‘Market Makers,’ Employees With Market Manipulation, Fraud (coindesk.com)

Former Bitcoin Dev Peter Todd Denies He's Satoshi Hours Before HBO Documentary Airs (coindesk.com)

SEC Sues Crypto Market Maker Cumberland DRW (coindesk.com)

Crypto Exchange Crypto.com Sues SEC, Chair Gary Gensler After Receiving Wells Notice (coindesk.com)

Lee and Jimmie discuss the SEC’s decision to appeal the Ripple ruling, Mango Markets settlement with the SEC, using tokenized funds as collateral, Coinbase’s clash with the SEC on their petition for rulemaking, and Gubir Grewal’s departure.

 Related Links:

•  XRP Slumps as SEC Appeals Judgment in Ripple Labs Lawsuit - Bloomberg
• Mango Markets Agrees to Destroy MNGO Tokens in SEC Settlement (coindesk.com)
• US SEC, Coinbase clash in court over crypto rulemaking | Reuters
• Use of BlackRock Tokens as Collateral Moves Closer to Mainstream - Bloomberg
• Crypto Community Cheers Impending Departure of SEC’s Top Attack Dog - Unchained (unchainedcrypto.com)