Matt and Nic are back for more deals and news. In this episode:

• Secret exchange insolvency rumors
• Caroline Ellison is free
• David Sacks says CLARITY is getting a markup
• The Fed rescinds their 2023 Novel Activities Supervision program
• Insolvent exchange prediction markets
• Visa's stablecoin advisory business
• JPM launches a tokenized Treasury fund MONY
• Quantum FUD
• Why Quantum might be a surprise
• Bitwise 2026 predictions
• The four year cycle is over
• Grabby aliens and the Dark Forest

Content mentioned in this episode:

• Talos and Factset, Year in Review