David Hoffmann

I mean, he was orchestrating a lot of this, but he basically said, this is unprecedented.

It's never been the case that- It wasn't.

They were unprecedented first, and now we're undoing the unprecedentedness of all of these enforcement actions.

We were so kind to him, though.

I do appreciate him coming on.

Let's talk about the new SEC chair.

He had a quote this week.

I'm just going to play.

This is Paul Atkins.

I love how he just compared the Gensler SEC to communist China, David.

That's the SEC chair doing that.

And he's saying, we're completely changing.

Now we're going to embrace it.

So that's the SEC.

They could not be more pro-crypto, more bullish on crypto.

Also, the CFTC launched a digital asset pilot allowing Bitcoin, ETH, and USDC to be used as collateral.

Okay, so this effectively recognizes both

Bitcoin and ETH as well as USDC as money for margin collateral.

This is a legitimate legitimization process of Bitcoin ETH as commodity monies and for use in derivatives and other CFTC regulated collateral.

So that's a big deal, too.