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

• Nic's shoe problem
• Web3 merch for OTB?
• The White House releases a report on crypto asset energy usage
• Why the US should encourage mining within its borders 
• Coinbase is funding a lawsuit against OFAC 
• Binance is converting USDC into BUSD on their platform 
• Poolin is having liquidity problems
• Russia considers crypto for cross border payments 
• The US Government recovers $30m from the Axie hack
• Gensler keeps firing barbs
• Nic doesn't buy the supply shock thesis around the Merge
• Will ETH have another high fee era? 
• What could an ETH carry trade look like? 

Content mentioned: 

• The White House, Climate and Energy Implications of Crypto-Assets in the United States
• Gary Gensler speech at the SEC, Kennedy and Crypto

Sponsor notes:

• Subscribe to the Coin Metrics State of the Network newsletter and read their Mapping out the Merge report