Tether is finally conducting an audit, and the CLARITY Act is shaping up to be a dud for stablecoins.
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Welcome back to The Blockspace Podcast! Today, Jay Patel, Founder of Lygos Finance, joins us to talk about tremors in private credit markets and how they might affect bitcoin-backed credit markets, and Blockspace podcaster Gwart hops on to discuss crypto’s year of soul-searching. We also dive into Tether’s first-ever audit, why the banks beat crypto in the latest draft of the CLARITY Act, and the emergence of a new Bitcoin client. Finally, we break down the incredible story of the unlikely hiding place for an Irish Drug dealer’s bitcoin stash.
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Notes:
• Tether seeks first Big Four audit vs Circle.
• Banks beat crypto in CLARITY Act.
• Irish authorities seized 500 BTC from dealer.
• Private credit faces risks as Blue Owl, others alter redemptions.
• New Bitcoin client makes the “conservative case” for BTC
Timestamps:
00:00 Start
02:35 Tether audit
16:30 CLARITY Act update
28:44 Gwart
47:07 Jay Patel from Lygos on Private Credit
1:02:18 New Bitcoin software client
1:12:10 Irish weed dealer's BTC gets seized
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