Simply Bitcoin FORGET WALL ST: The Biggest Attack Is Coming From Within!! | EP 1459
Mar 12, 2026
Mateo, founder/operator of Club Orange and builder of a Bitcoin-focused social and merchant app, shares the platform’s rebrand and community goals. He discusses Lightning-enabled merchant adoption and a planned wallet migration to self-custodial Spark-based solutions. Short takes cover grassroots merchant onboarding, Lightning’s real-world progress, and making Bitcoin payments easy and interoperable.
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Coinbase Allegedly Pushing Stablecoin-First Policy
- Coinbase may be lobbying against treating Bitcoin as money to protect stablecoin revenue.
- Marty Bent reported sources saying Coinbase told legislators "no one is using Bitcoin as money" while pushing a de minimis exemption for stablecoins only.
De Minimis On Stablecoins Is Economically Nonsensical
- A de minimis exemption for stablecoins is illogical because stablecoins are dollar-pegged and have no capital gains.
- The show highlighted USDC as Coinbase's stablecoin and noted Coinbase earned large yield from US treasuries in USDC reserves.
Stablecoin Yield Creates Powerful Corporate Incentives
- Coinbase's USDC business generated substantial revenue from US treasuries held in reserves, creating incentives to favor stablecoin proliferation.
- Bloomberg estimated that regulatory changes could multiply Coinbase's stablecoin revenue under the Genius Act.