Matt and Nic return for another week of news and deals. In this episode: 

• USDC gains ground on USDT
• Stable liquidity is sticky
• Why fiat-backed stables are still more censor resistant than bank deposits
• Do stablecoins make L1s unforkable
• Will the emergence of crypto prime brokers pressure crypto yields?
• Voyager files for Chapter 11
• Should investors also be clients of lending firms they invest in?
• Circle’s origins as a spot crypto broker
• 3AC files for Chapter 15
• Genesis confirms they had 3AC exposure and DCG absorbed the losses
• EU agrees on tentative MiCA regulation
• MiCA avoids the PoW ban
• Did the EU write model stablecoin regulation?
• The WSJ pushes back at Gary Gensler on the spot BTC ETF
• The SEC’s double standard in metal ETFs versus a BTC ETF

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