Coffee & Crypto with Lee & Jimmie Lee Reiners

Lee and Jimmie discuss reports that President Biden’s campaign may accept crypto donations, former President Trump’s posts that Bitcoin should be made in the USA, Coinbase’s State of Crypto report, and results of the 2023 BIS survey on central bank digital currencies and crypto.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz
Related Links:
Joe Biden may accept cryptocurrency campaign donations through Coinbase: https://qz.com/just-like-trump-the-biden-campaign-may-also-accept-cry-1851537487
Trump Says 'All' Bitcoin Mining Should Be In The US In His Latest Embrace Of Crypto: https://www.forbes.com/sites/roberthart/2024/06/12/trump-says-all-bitcoin-mining-should-be-in-the-us-in-his-latest-embrace-of-crypto/
The State of Crypto: The Fortune 500 Moving Onchain: https://www.coinbase.com/blog/the-state-of-crypto-the-fortune-500-moving-onchain
Embracing diversity, advancing together - results of the 2023 BIS survey on central bank digital currencies and crypto: https://www.bis.org/publ/bppdf/bispap147.htm

Lee and Jimmie discuss SEC Commissioner Hester Peirce’s recommendation for the SEC to join the UK’s ‘Blockchain Sandbox,’ President Biden’s veto of SAB 121 repeal, benefits and risks of EigenLayer and restaking, and PayPal’s recent moves to increase adoption of their PYUSD stablecoin.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz
Related Links:
US Should Join UK in ‘Blockchain Sandbox’ Free of Regulatory Meddling: https://decrypt.co/233170/blockchain-regulatory-sandbox-us-uk-hester-peirce-unikely
US lags in financial innovation. Regulatory sandboxes are the answer: https://www.americanbanker.com/opinion/us-lags-in-financial-innovation-regulatory-sandboxes-are-the-answer
U.S. President Biden Vetoes Resolution Overturning SEC Guidance: https://www.coindesk.com/policy/2024/05/31/us-president-biden-vetoes-resolution-overturning-sec-guidance/
EigenLayer raises the stakes for Ethereum: https://www.ft.com/content/2134fe55-731e-4f26-aec8-750493944fda
Ethereum’s powerful new ‘EigenLayer’ promises a wave of innovation. But is it a threat to the blockchain?: https://fortune.com/crypto/2024/05/24/eigenlayer-is-opening-new-doors-for-ethereum-so-why-does-it-feel-like-2008/
PayPal Adds PYUSD Stablecoin to Memecoin-Favorite Solana Blockchain: https://www.bloomberg.com/news/articles/2024-05-29/paypal-adds-pyusd-stablecoin-to-memecoin-favorite-solana-blockchain
PayPal's stablecoin gains allies to help position it for payments: https://www.americanbanker.com/payments/news/paypals-stablecoin-gains-allies-to-help-position-it-for-payments#:~:text=PayPal%27s%20stablecoin%20launched%20in%202023.&text=Like%20most%20forms%20of%20cryptocurrency,for%20payments%20has%20been%20limited.

Lee and Jimmie discuss House passage of the FIT Act and an anti-CBDC bill, as well as the SEC’s pending approval of Ether spot ETFS.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz

Related Links:
U.S. House Approves Crypto FIT21 Bill With Wave of Democratic Support: https://www.coindesk.com/policy/2024/05/22/us-house-approves-crypto-fit21-bill-with-wave-of-democratic-support/
Crypto's 'huge moment' scrambling US politics: https://www.politico.com/news/2024/05/23/crypto-2024-election-impact-00159506
Statement of Administration Policy on the FIT Act: https://www.whitehouse.gov/wp-content/uploads/2024/05/SAP-HR4763.pdf
Gary Gensler Statement on the Financial Innovation and Technology for the 21st Century Act: subscriber.politicopro.com/f/?id=0000018f-9e1e-d4a6-a3cf-9e7ec58a0000
SEC Widens Accessibility of Crypto Investing With Approval of ETFs for Ether: https://www.wsj.com/finance/currencies/ether-etf-cryptocurrency-sec-decision-aa57cae4?mod=hp_lead_pos6
U.S. House Passes Bill Banning Federal Reserve From Issuing a CBDC: https://www.coindesk.com/policy/2024/05/23/us-house-passes-bill-banning-federal-reserve-from-issuing-a-cbdc/

Lee and Jimmie discuss the U.S. Senate’s vote to repeal SEC Staff Accounting Bulletin No. 121, a pending floor vote in the House on the FIT Act, and novel criminal charges related to frontrunning on Ethereum.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz
 
Related Links: 
U.S. Senate Votes to Kill SEC's Crypto Accounting Policy, Testing Biden's Veto Threat: https://www.coindesk.com/policy/2024/05/16/us-senate-votes-to-kill-secs-crypto-accounting-policy-testing-bidens-veto-threat/
House to Consider Financial Innovation and Technology for the 21st Century Act: https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409251
Crypto Heist: MIT Brothers Arrested Over Alleged $25 Million Theft: https://www.bloomberg.com/news/articles/2024-05-15/mit-brothers-arrested-over-lightning-25-million-crypto-heist?
 
 
 

Lee and Jimmie discuss CZ’s sentence, news that FTX creditors will be made whole, Robinhood’s crypto-related Wells Notice, disagreements over stablecoin transaction volume, and Blackrock’s investment in Securitize.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz
Related Links
How 'Good Guy' Reputation Secured Binance's CZ a 4-Month Prison Sentence: https://www.coindesk.com/business/2024/04/30/how-czs-good-guy-reputation-secured-4-month-prison-sentence/?utm_source=securitiesdocket.beehiiv.com&utm_medium=newsletter&utm_campaign=binance-s-cz-sentenced-to-four-months-in-prison
FTX Has Billions More Than It Needs to Repay Its More Than Two Million Customers: https://www.bloomberg.com/news/articles/2024-05-07/ftx-has-billions-more-than-needed-to-repay-bankruptcy-victims?cmpid=BBD050824_MONEYSTUFF&utm_medium=email&utm_source=newsletter&utm_term=240508&utm_campaign=moneystuff
FTX’d: Conflicting Public and Private Interests in Chapter 11: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4760736
SEC Prepares to Sue Robinhood Over Crypto Unit: https://www.wsj.com/finance/regulation/robinhood-gets-sec-notice-on-recommendation-of-enforcement-action-against-crypto-unit-9846e60c?utm_source=securitiesdocket.beehiiv.com&utm_medium=newsletter&utm_campaign=sec-issues-wells-notice-to-robinhood-over-crypto-unit
Robinhood's crypto business drives massive earnings beat: https://www.reuters.com/business/finance/robinhood-swings-profit-year-ago-loss-2024-05-08/
Making sense of stablecoins: https://usa.visa.com/visa-everywhere/blog/bdp/2024/04/24/making-sense-of-1713984605043.html
Securitize Announces $47 Million Strategic Funding Round Led by BlackRock: https://securitize.io/learn/press/securitize-announces-strategic-funding-round-led-by-blackrock
 

Lee and Jimmie discuss Consensys’ preemptive lawsuit against the SEC, the resignation of two SEC lawyers involved in the Debt Box case, Stripe’s integration of USDC, and criminal charges against the founders of Samourai Wallet.
Lee’s X: @leereiners
Jimmie’s X: @jimmie_lenz
Related Links
SEC sued over Ethereum, crypto firm asks court to state token is not a security: https://fortune.com/crypto/2024/04/25/sec-sued-over-ethereum-crypto-firm-asks-court-to-state-token-is-not-a-security/
Two SEC Lawyers Resign After Agency Censured for Abuse of Power in Crypto Case: https://finance.yahoo.com/news/two-sec-lawyers-resign-agency-172240276.html?guccounter=1
Stripe Brings Back Cryptocurrency Payments Via Circle's USDC Stablecoin: https://www.coindesk.com/business/2024/04/25/stripe-brings-back-crypto-payments-via-usdc-stablecoin/
 Southern District of New York | Founders And CEO Of Cryptocurrency Mixing Service Arrested And Charged With Money Laundering And Unlicensed Money Transmitting Offenses: https://www.justice.gov/usao-sdny/pr/founders-and-ceo-cryptocurrency-mixing-service-arrested-and-charged-money-laundering