Why Crypto Feels Boring Right Now

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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