Tokenization market structures

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

• What happened with the disastrous Vanity Fair photoshoot
• Kraken postpones their IPO
• The SEC releases long-awaited guidance distinguishing securities from commodities
• A compromise may be developing over stablecoin yield
• The SEC drops their case against Nader Al-Naji
• Phantom gets a no-action letter from the CFTC
• Tempo mainnet launches
• Some regional banks are tokenizing deposits
• Will agentic payments be a thing
• Q-day is creeping closer

Content mentioned:

• Galaxy Research, Bitcoin Is Rising to the Challenge of Quantum Readiness
• Global Risk Institute, Quantum Threat Timeline Report 2025