August 19: Ripple Raises $275 Million as the SEC Finally Moves on Reg Crypto

Ripple raised $275 million to expand its U.S. clearing, prime brokerage, and financial-services business, while Metaplanet is bringing its Bitcoin treasury strategy to the U.S. through a deal involving 2,100 BTC and Nasdaq-listed Super League Enterprise. Matt also covers China rapidly expanding its digital yuan banking network and the SEC finally proposing its long-awaited Reg Crypto framework, creating new pathways for crypto companies to legally raise capital. 

The episode also looks at South Korea blocking Polymarket as illegal gambling, a Maya Protocol exploit that caused nearly $11 million in broader liquidity-pool losses, Bybit saying AI helped save roughly $700 million following its massive hack, and proposed accounting rules that could require stronger reserves and redemption rights for stablecoins to receive cash-equivalent treatment. Meanwhile, Bitcoin remains trapped in its six-week range near $65,000, with Matt still skeptical that the bottom is already in. 

Happy HODLing.

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