Kyle Lawrence [00:00:00]:
Prediction markets galore. Crypto's 4chan, and is the SEC seeding ground to the CFTC? All that and more coming right up on block and order. Welcome to block and order, the show that explores the legal issues facing the world of web three and beyond. I'm Kyle Lawrence, and with me, as always, you know, I'm convinced I'm one of the only people on the planet who can accurately pronounce his name. Moish Peltz.

Moish Peltz [00:00:30]:
Oh, thank you, Kyle. I can also pronounce your name, but that's maybe slightly less impressive. You know, I do notice that people are getting better, and maybe that's because block and order is getting out into the world and they're hearing my name more often.

Kyle Lawrence [00:00:42]:
It's the only plausible explanation. But it would shock you how often my name just gets completely butchered by all sorts of media, friends, family, guests and so on and so forth.

Moish Peltz [00:00:53]:
You know, it would shock me, but I've been in enough rooms and places with you to. To see it happen to Kayle.

Kyle Lawrence [00:01:02]:
Yeah, Kayle. Kayle.

Moish Peltz [00:01:03]:
Right.

Kyle Lawrence [00:01:04]:
We'll flash that up on the. We'll flash a picture of that. Yeah, that definitely happened, and not the only time. Yeah, it's true. Well, thank you for joining us on block and order. We are a point counterpoint style show that examines legal issues facing crypto, blockchain, AI, and other emerging technologies that we're all facing with as a growing planet. So we try to keep every topic to a set amount of time, but sometimes we are feeling rather feisty and spicy and we go over that time limit and other times we get it just right. So thank you for checking us out on Spotify or Apple Podcasts, wherever you get your listening content.

Kyle Lawrence [00:01:39]:
You can also check us out on YouTube if the sweet amber tones of our voice are not sufficient for your pleasure. And with that, we will kick off the order. Leading us right off, moish, is Polymarket. Prediction markets such as Polymarket are gaining widespread attention for their role in forecasting political events, including, but not limited to, the upcoming presidential election. Who knew? And Moish, admittedly, this is not something I know a ton about. So if you don't mind, I'm actually going to kick it over to you and let you wax poetic about what this tech is.

Moish Peltz [00:02:09]:
Yeah. So what's the deal with Polymarket? Right? It's a good question. I been thinking this might be the most successful crypto project to extend beyond crypto. I'm curious what you think about that. There's been a lot of news and politics in the news the past couple weeks, a lot of things going on, at least in US politics, but not only US politics. I think you look to Europe and other places, and beyond politics, there's just a lot of things that people want to bet on and predict. And oftentimes if you ask an economist, how, how do you, how do you find that information? Like, well, we turn to markets, right? So here we have Polymarket, which is basically allowing anyone in a decentralized way or relatively decentralized way to create a prediction market for any particular event that can result in a binary yes or no or something in between. And so what you've seen in the Wall Street Journal and Bloomberg and over the past week is a lot of people are now turning to Polymarket to get their news about how much something that's happened in recent events is changing the likelihood of a certain political outcome or sporting event or music, entertainment, whatever it is.

Moish Peltz [00:03:32]:
And that's kind of the beauty of it is if anyone has an idea for a market that's not already expressed, they can create one.

Kyle Lawrence [00:03:40]:
But one of the things I saw that you could do on Polymarket was bet last week, this was kind of pumping with the talk that Biden was going to drop out of the race and there were odds and they were changing every time something else came out of the news cycle, which was every five minutes. How is that not betting on elections, which I don't think you can do. How does that.

Moish Peltz [00:04:00]:
It's exactly betting on elections. And I think there's two models here, right? Polymarket actually had a settlement with the CFTC in the US and said, you're right, we're not going to allow these markets to happen in the US. And they geo blocked out US users so US users can use the platform to gather information, but they're not expressing their bets on the platform, at least they're not supposed to be. There's another competing market which hasn't been talked about as much, called Kalshi, if I'm saying that. Right, Kalshi, that went the legal route, actually won regulatory approvals from the CFTC, but not, but they got, they came short of offering election markets, which right now is kind of what I think is driving a lot of the market share of Polymarket. And so actually, I think it's before this run up right now, but Kalshi has actually sued the CFTC after its election market application was denied in order to hopefully launch markets to tie to political elections. So that's currently the CFTC being the non security market regulators, commodities like prediction markets like this would be the natural regulator. You're seeing a company that's screening itself off the US, gain tremendous mind share, and a company that's trying to play by the rules apparently kind of being stifled and not being as nimble and able to offer the different kinds of markets as quickly.

Kyle Lawrence [00:05:25]:
Right. Interesting stuff. Thank you.

Moish Peltz [00:05:28]:
Yeah, we'll see what else they can predict. Maybe they'll predict a block and order next topic.

Kyle Lawrence [00:05:32]:
I mean, it sends to reason that they will.

Moish Peltz [00:05:37]:
All right, well, our next topic is pump.fun. So, Kyle, you referenced it in the run up to the show. It is being termed cryptos 4chan. So again, another Matt Levine and money stuff today offered a very, I thought, fitting quip. That pump.fun, which is basically a platform for launching Solana meme coins, and said the SEC's view is essentially, that's illegal to publicly offer a cryptocurrency that represents an investment of money in a common enterprise with profits to come solely from the efforts of others. But an investment of money in nothing with profits to come solely from memes is fine. So the result is you get dumb crypto projects that regulation allows, and the SEC. Sorry.

Moish Peltz [00:06:29]:
So you get the crypto projects the regulations allows, and the SEC encourages crypto to be dumb and crypto obliges. So here you go, Kyle. So what do you think? Pump.fun? I know we talked about on a prior episode, like legal, illegal. What do you think? Here we are, a little bit more analysis.

Kyle Lawrence [00:06:44]:
Well, it's funny, and I do think that meme coins, we joked about it a couple of weeks ago, and I think the past couple of weeks, when you've just seen, I mean, millions. I don't think I'm exaggerating when I say millions of meme coins have been just dumped onto the market. The idea that people are investing in meme coins with the idea of getting rich, I mean, I'm sure some people are, and, you know, a fool and his money are soon parted. But for the most part, people are doing these things because they think it's funny or they think it's cool or aligns with their values. We see it politically. We see them in sports. And Michael Selig, a partner at Wilkie Farr, has basically said that, you know, the idea that these things are illegal is preposterous because of this reason that people are doing it for fun. P and he says, people buy meme coins to express a viewpoint, be a part of a community, speculate on the attention value of cat pictures or for other entertainment reasons.

Kyle Lawrence [00:07:33]:
And if we're looking at as a purely legal. As a legal thing, sorry, for lack of a better word, it can't possibly be a security. So what, you know, what are these people doing that's illegal? And I think, I don't know if that's a completely genuine argument. It's a little specious, but, you know, if looking at it at face value, I think there's merit to it and I think you can at least make a plausible argument to that effect.

Moish Peltz [00:07:59]:
Yeah, I love the 4chan analogy because when you, when you bring up the homepage, it's just so like crack at, things are moving at lightning speed and. Yeah, a million meme coins. I looked at the stats there. There's actually more than a million meme coins have been launched on pump.fun. If you go back to March crazy, guess what that number was, right? It was under 2000 meme coins on. So, like, just in the past six months, they've, they've launched, you know, basically a million meme coins. It's just, it's just like, there's, there's no, I don't know. Right.

Moish Peltz [00:08:31]:
Not, none. None of these are being presented as the next bitcoin or ethereum or thing that's going to change.

Kyle Lawrence [00:08:37]:
Exactly. That's the thing. Yeah, right.

Moish Peltz [00:08:40]:
They're memes.

Kyle Lawrence [00:08:41]:
Yeah, that, that's exactly the thing. And they come and go so quickly. I mean, if you can get in there within the first five minutes, maybe you can make a couple bucks, but if you don't cash out immediately, you're going to lose whatever you put into it for the most part. Not financial.

Moish Peltz [00:08:54]:
Yeah, but look, I think it gets back to, I mean, it's all, it's one, it's a nice contrast to Polymarket, which is actually, I think, useful and presenting information. This is just vapid nothingness. Yeah, yeah. But I mean, look, some of the most successful crypto tokens, if you look at the, you know, the top 25 market cap, there's a lot of meme coins in there. People like them. They're fun. And it's, it's the opposite of, you know, ether or something that has all these promises over decentralized Internet and the future of everything. This is just a cat or a dog.

Kyle Lawrence [00:09:30]:
And for our younger audience members, go to pump.fun. Don't go to 4chan. 4chan is a, 4chan's not where you want to go. Well, moving right along, it seems that our White Walker friends at the SEC may have lost their stones a little bit as they, they have dropped investigations into BUSD and they also dropped a probe into the hero stacks blockchain. So recently, the SEC concluded its investigation into Paxos BUSD stablecoin without recommending an enforcement action, marking a significant development for the crypto industry and one that we really havent seen. A lot of its more just been go, go, go and filing these enforcement actions. And also recently, the SEC ended its investigation into hero systems stacks blockchain, opting not to take further action about hero used to be called blockstack. Maybe somebody, people have heard of it.

Kyle Lawrence [00:10:20]:
They actually worked with the SEC to conduct a $50 million token offering under regulation A+ back in 2019. So that gets back to the come and talk to us. Come in and register and we'll be your friend. And I've always said if you do that, you're insane. You're going to walk out with a subpoena. Well, these guys actually did it and they fought the law and they won. So, Moish?

Moish Peltz [00:10:40]:
Well, they walked out with a subpoena, then it took them a couple of years to go away. So I don't know.

Kyle Lawrence [00:10:46]:
The wheels of justice turn slowly. Moish, what can we say? That's not an everyday thing, but I know that moist. What do you think? Is this a watershed moment for the SEC? Is this of things to come? Is this reflective of the political climate we're in an election year? What are your thoughts on this?

Moish Peltz [00:11:04]:
Yeah, what is driving this? That's a good question. I do think it might be exhaustion from the SEC and just seeing all these suits and combined with the political pushback. Combined, I think really importantly, with, with the orders that have been coming out of various district courts. We talked about the DC district court opinion from justice, from Judge Jackson last week or last episode. So there's been some really, you know, for the SEC, negative decisions. There's been a lot of cases they brought. There's been some departures from the SEC. I think when you add all these things together, maybe there's some low hanging fruit here where the SEC is just like, you know what, I don't think we're going to win that one.

Moish Peltz [00:11:48]:
Let's just drop it and go away. So, look, I think that's fundamentally good for the industry. If they're able to say, hey, now we have more case law, here's all the reasons why this is a stinker. Can you please go away? And it's working now occasionally, which I don't think that was the case a year ago.

Kyle Lawrence [00:12:10]:
I don't think.

Moish Peltz [00:12:11]:
You weren't hearing about it.

Kyle Lawrence [00:12:12]:
I don't think it was the case a couple weeks ago. It doesn't seem like. But now you're, but now you're sort of seeing the sea change and we're going to talk a little bit about it later with, you know, the government. Crypto is becoming much more political than it was just a couple months ago. And, you know, there's a potential change in administration, and that's, that's going to have an impact on the SEC one way or another. And I hate to be cynical about it, but I wonder if that's kind of part of this. It's obviously not all of it, but it could be in the back of their minds as they make these decisions.

Moish Peltz [00:12:43]:
Yeah, it's hard not to think. Well, let's, let's wrap up what we can and jettison the ones that don't make sense. Thinking about going into November and January of 25, right?

Kyle Lawrence [00:12:56]:
Yeah. Obviously, Paxos expressed satisfaction with the decision, highlighting their commitment to compliance, as one does when the SEC leaves you alone and pats you on the back on the way outside, you know, hero systems also emphasized its adherence to regulatory guidelines. So positive developments. And again, like we always say, incremental progress is progress nonetheless, and we will take it.

Moish Peltz [00:13:17]:
All right, so our next topic is Celsius, which after having previously collected about $100 million from 1500 account holders as part of their bankruptcy clawback from users who withdrew funds shortly before the filing of the bankruptcy. The Celsius litigation administrator is now filing new complaints against users who withdrew funds within 90 days before the bankruptcy but haven't already settled. So basically any user who hasn't already settled that withdrew more than $100,000 has what's called withdrawal preference exposure. And this was all over social media with these users essentially saying they've, they're being unfairly targeted for using the platform and they had kind of ordinary course trades and so forth. And now basically the bankruptcy, the litigation administrator is asking them for a much higher dollar amount than they were previously offered in settlement because everyone had this blanket pennies on the dollar settlement amount they could have benefited from before July. So, Kyle, what do you think? Is it fair for these users to be targeted for essentially walking away with their money?

Kyle Lawrence [00:14:37]:
You know, it's a question we get asked a lot as attorneys. We've had a lot of clients who have received not necessarily notices from Celsius, but Voyager was one. We had a bunch of clients who had these notices, and they all say the same thing. I didn't have inside information. I just took the money out and I moved it somewhere else or whatever it may be. This is unfair, legally speaking. I mean, these are what the rules are, you know, and we always like to say we don't make the rules. From my point of view, I think this is unfair.

Kyle Lawrence [00:15:05]:
I understand the thinking of why they need to do it this way and why the bankruptcy court and the trustees need to do this. I'm not blind, but if you're somebody who's operating in good faith and you took your money out and now you have to turn around and give a huge chunk of it back, yeah, I'd be pissed too. I don't necessarily fair. I get it. I just don't like it. That's not sticking with that.

Moish Peltz [00:15:29]:
Yeah, look, I don't like it. I don't think it's fair. I mean, in the abstract, right, that I was using this platform. I saw that it was going to blow up. I took my money out to save it.

Kyle Lawrence [00:15:39]:
Yeah.

Moish Peltz [00:15:40]:
And I was offered a settlement. I think it was like $0.17 in the dollar and I didn't take it. Right. So I think, you know, that's, that was the decision that people made. And now some of those people, right, because we know about the bankruptcy process, are going to have defenses. They're going to have a reason that they think the settlement that was offered is not fair and they're going to do better now than they would have done then, or I think they're going to do better or they're taking that calculator risk. And I think there's some people that just had no idea or forgot or didn't turn in the form in time or whatever. And that's one of the weird things about these crypto bankruptcies is the creditors are here like thousands, tens of thousands of just consumers, and they don't have the sophistication to be able to say, this is what I should have done with bankruptcy, or whoops, I should have taken the settlement.

Moish Peltz [00:16:32]:
I'm not going to pay 17% of my money back to you. Screw you. And now they're being asked for probably ten times that amount. Exactly in a federal bankruptcy litigation. And whoops.

Kyle Lawrence [00:16:44]:
Right? And now you have to cash out of another asset or you have to liquidate something else. It's, the whole thing stinks. It sucks.

Moish Peltz [00:16:52]:
But I don't think it's unfair. I think that's the bankruptcy process. It's fundamentally unfair. It's like no one's getting paid back. That's why we're in bankruptcy. So we need to equalize things like I said, I think in the grand scream, the world can be unfair, but I think amongst creditors, there has to be balance. And that's the process.

Kyle Lawrence [00:17:11]:
It reminds me of what happened to Martha Stewart because she got accused of insider trading, because her broker called her and said, hey, you're going to lose all your money. We got to cash this out. And she said, okay, yeah. What would you do? You would do the exact same thing. It's that, that. I get it. Yes. What she did was wrong, legally speaking.

Kyle Lawrence [00:17:26]:
But to hell with that. What are you supposed to do?

Moish Peltz [00:17:28]:
Yeah. Well, I think. I think the part that is unfair is that the, the claim administrator is. Is saying you like, if you took out one bitcoin in 2020 or 2021, whenever the date was, I'm. But now you owe us one bitcoin at $64,000. And that part, I think, is unfair. It's like playing with the sucks to the detriment of these, like, you know, individuals. But look, everyone here gotta put on your big boy pants.

Moish Peltz [00:17:55]:
It's $100,000. Like, you know, that's the cutoff. So, you know.

Kyle Lawrence [00:17:59]:
Yeah, here we go. Yeah. The best deals are the ones that everybody loses, I guess.

Moish Peltz [00:18:04]:
Right? Everyone's upset at each other.

Kyle Lawrence [00:18:06]:
Everyone's upset at each other. I'm upset with you, Moish. Take that. That's what makes us.

Moish Peltz [00:18:12]:
You're my co host. Can't be upset with me.

Kyle Lawrence [00:18:14]:
It's true. I'm sorry. I take it. Moving right along to somewhat greener pastures, the commodities and Future Trading Commission chair Rostine Benham recently testified and claimed that the majority of crypto assets, 70% to 80% to be exact, should not be classified as securities, aligning them more with commodities. Hey, Morris, did you know that 37% of all statistics are just completely made up on the spot? This classification would obviously affect how these assets are regulated, the CFDC potentially taking a leading role in their oversight. We've seen this with some of the legislation that's been proposed by the Lummis Gillibrand bill, for example, has been promoting more CFTC oversight. And this, her claim, the chair's claim stems from a July 3 decision where Judge Mary Roland of the Northern District of Illinois entered a summary judgment against Sam Ikerty, a man facing CFTC charges for operating a, quote, classic Ponzi scheme that extracted $83.7 million from investors. And this fund, if you indulge me for a minute, this fund, he claimed that he was investing in proof of stake tokens, but it turns out he invested 90% of it in Olympusdao's om token, which we remember all too well.

Kyle Lawrence [00:19:26]:
That was doing really well for a while, until it really wasn't. And a substantial portion of the remaining funds. Proof of dog shit. A substantial portion of the remaining funds were invested in KlimaDAO's Klima. So one of a bad actor. But what Benham said was that courts roundly recognize cryptos as falling under the broad definition. Excuse me, Judge Roland said this, this is because cryptocurrencies share a core characteristic with other commodities who derivatives are regulated by the FTC. So that was a long, roundabout way of me asking you, Moish, do you think this is again another watershed moment? I'm using that term again where we're seeing a shift from the SEC over to the CFTC.

Moish Peltz [00:20:06]:
No, nor do I think we're in mid July 2024, and none of this matters until January 2025.

Kyle Lawrence [00:20:14]:
Yeah, I think that's the reality.

Moish Peltz [00:20:16]:
I think it doesn't matter. Nothing's going to happen. Nothing's happening in the next four months.

Kyle Lawrence [00:20:21]:
Well, that's certainly true, but it's just interesting to see we have the SEC backing off on some of its enforcement actions. Right or wrong, we can argue about what the underlying facts were in the underbelly of those cases. Now you have the CFDC coming out and just throwing out a random percentage that has no basis in reality. It's just the push pull component to it I find interesting, especially.

Moish Peltz [00:20:42]:
Yeah, look, I think it's interesting like the interagency politicking that's going to happen between now and January and kind of positioning for either the continuation of this administration or the next one and just how that all plays out. It's going to be, I feel like there's going to be the backroom kind of Knives Out gossip stories are going to be really fascinating. But I don't know, I think this is all playing out amidst the backdrop of all these traditional decisions. And here you see here the chair citing another one from the northern district of Illinois. And so I think that's important. I think it's important that that happened. But I think it's also funny that there's 70% number when we just spoke about how there's over a million assets just on pump.fun. So I don't know, I think if you add in those assets, the number might come like, you know, those are not securities, then it still means nothing's a security percentage basis.

Kyle Lawrence [00:21:43]:
300,000 of them are securities.

Moish Peltz [00:21:47]:
Still a problem. All right, now for something completely different. OpenAI the well known AI company has whistleblowers who have filed a complaint with the SEC alleging that there have been significant safety risks and regulatory violations at OpenAI, including the company's allegedly restrictive NDAs. So the SEC has basically made it clear that if you're bound by an NDA and your company is subject to SEC reporting obligations and your NDA prevents you from being a whistleblower to the SEC, you are in big trouble. Right. So now whistleblowers can go to the SEC and ask the SEC to probe those overly restrictive NDAs. And so that's what happened here. So the SEC is now involved in examining these allegations and part of a larger report that raises broader questions about AI ethics and safety protocols at OpenAI, which has been a much larger conversation.

Moish Peltz [00:23:00]:
So, Kyle, what do you think? What role do NDAs, restrictive, overly restrictive, or otherwise have to play in regulating entities such as OpenAI?

Kyle Lawrence [00:23:10]:
Well, I have sort of two things that I want to say about this. One, I mean, I've written an NDA or two in my career that I've been doing this for a while.

Moish Peltz [00:23:19]:
And how many did you write today? Right?

Kyle Lawrence [00:23:21]:
I mean, if I written today, right, three or four, I guess, maybe. We have interns now. They write all that stuff. But I reviewed them. But the idea, it says in there, all our information is confidential, except for if you have to report to a government agency, you let the company know, and the company will then, you know, help you do that or guide you to it. I'm curious as to what these NDAs actually said, where they couldn't do that at all. Like, that seems to me overly restrictive and enforceable just on its face. But to a broader topic or broader idea of where does protecting our confidential information stop and where does the public trust begin? We could talk for hours about that.

Kyle Lawrence [00:24:01]:
Obviously, OpenAI, there's a lot of money at stake here. There's a lot of competition. You're seeing a lot of entrance into the space. Elon Musk has his platform that's coming out or is being well funded and has all this hubbub about it. But at what point is OpenAI, if there are safety concerns and these people have to testify or get that information out there to protect the public good, honor the public trust, at what point can the company say, hey, you can't do that? That's rip? I find this kind of stuff fascinating. It reminds me of one of my favorite movies, the Insider, the Mike Mann movie. That's all I can think about when I read these things.

Moish Peltz [00:24:36]:
Great callback yeah, I was on a Michael Mann kick watched thief, which is on the criterion collection.

Kyle Lawrence [00:24:44]:
Nice. Yeah, that's the James Caan. Yeah.

Moish Peltz [00:24:50]:
Right. So I mean, how much does it matter, like exactly what is in the NDA, if it has that, like, you know, is it just a case where it's like the magic language was not there, that, oh, there's an exception for you to be able to do whistleblowing, reporting to the SEC. And that was there or not there.

Kyle Lawrence [00:25:05]:
Right.

Moish Peltz [00:25:06]:
Is that determinative or is it kind of a broader question? So I guess, you know, we'll see what happens here. But check your NDAs. Maybe it's a take home here.

Kyle Lawrence [00:25:15]:
Yeah, really? I mean, hopefully someone got fired for not including that language. I mean, it's literally in every one. I don't even know how to do an NDA without one. I think it'd be like the opposite of riding a bike. I just don't understand it.

Moish Peltz [00:25:27]:
Well, I mean, to speak about that, there's a lot of crappy NDAs. There's a lot of crappy legal documents, well, floating around crypto land. Right. And now OpenAI itself is generating them for, you know, not clients of ours. So, you know, if you're, if you're asking chat GPT to generate an NDA for you, that's the kind of thing it might miss. Right. So there you go.

Kyle Lawrence [00:25:53]:
Yeah. All right, moving on to our fabled lightning round. Moish, you ready? You look ready.

Moish Peltz [00:25:59]:
I don't know, Kyle. Are you ready?

Kyle Lawrence [00:26:01]:
I was born ready. So despite its bankruptcy, three arrows capital unexpectedly acquired an NFT due to a bid placed nearly three years ago being accepted. Recently, three ACS 20 ETH bid for the Neon village NFT was accepted after three years. It was previously owned by @anonymoux, who paid 100 for it.

Moish Peltz [00:26:22]:
anonymoux, anonymoux, anonymoux, anonymoux. Come on the show, tell us how you pronounce your name.

Kyle Lawrence [00:26:29]:
Anonymous. The NFT's value is significantly decreased from its original purchase price because when it rains in porous three, AC is currently undergoing bankruptcy proceedings and the acquisition has, among other things, raised eyebrows in the crypto community.

Moish Peltz [00:26:44]:
I think my favorite story pretty great is the liquidators spent ungodly amounts of money tracing every last dollar and, you know, liquidating everything and trying to pay the creditors. And as it turns out, there was just, whoops, 20 eth stuck in a super rare smart contract. That's just so. I just think it's very fitting. And now the bankruptcy look like they own a new NFD. Congratulations, ac liquidators, on your purchase.

Kyle Lawrence [00:27:09]:
They should get something for their efforts.

Moish Peltz [00:27:14]:
All right, our next top. That was not a lightning. Now that was.

Kyle Lawrence [00:27:16]:
That's okay. That was a mini worthy, as a mini segment. I think so, yeah.

Moish Peltz [00:27:22]:
Chainalysis just published their money laundering report. Congratulations to our friends at chainalysis, which highlighted the increasing risks and also regulatory platforms surrounding increased use of crypto by non crypto people for money laundering. So, kyle, there we go. What else is there to say?

Kyle Lawrence [00:27:49]:
I mean, you nailed it. Sometimes, Moish, you say it perfectly and eloquently, and there's nothing I can really add to. It's true. This is one of those times. Recently in the news, the United States Republican Party has adopted and embraced crypto as part of its platform going into the 2024 presidential election. While specifics of what it is they're actually trying to do have not come out just yet, they really just been openly accepting and embracing crypto. Trump has repeatedly said that he wants all the bitcoin to be mined in the United States. And all of a sudden, a lot of Republicans who are bearish on crypto have now come around and it's becoming a big part of their platform.

Kyle Lawrence [00:28:30]:
And Trump will be speaking at Bitcoin 2024 in Nashville in a couple of weeks, where block and order will be present as well. We're curious to see if he unveils any specifics about what it is they're going to do.

Moish Peltz [00:28:40]:
Well, yeah, I mean, they previewed at least three points. Right. One is, which they're against a CBDC.

Kyle Lawrence [00:28:45]:
Which is not really a thing talking about for a while.

Moish Peltz [00:28:47]:
Right.

Kyle Lawrence [00:28:48]:
Not really a thing.

Moish Peltz [00:28:49]:
Defending the right to mine bitcoin in the US, which, ensuring every american has the right to self custody. And I think those are three things that should probably be bipartisan. Maybe the CBDC thing is more of a mixed issue, but I guess that's.

Kyle Lawrence [00:29:04]:
Like, that's in the research stage. That's not happening anytime soon. It's not even a priority for the people who care about it.

Moish Peltz [00:29:10]:
I think that's right. I. Yeah. All right. Yeah, next topic. Ether ETF's are coming out next Tuesday. I think that's it. That's lightning.

Kyle Lawrence [00:29:18]:
Yeah.

Moish Peltz [00:29:19]:
Congratulations to the UK Law Commission that stated that released the UK Dow report. And lastly, because we're going to try and get out of here on time, we will be in Nashville next week. So if you are in Nashville, if you're a block and order fan, please send us an email, send us a message on our YouTube channel or one of our other platforms, and we'd love to meet you. We will hopefully be recording some stuff there. No promises, but if we can, we would love to meet up with our audience. So reach out. Hope to see you there.

Kyle Lawrence [00:29:51]:
Thank you, Moish. That wraps it up for this edition of block and Order. Remember to like and subscribe and follow us on all our socials and all the links to that are down below in the show notes. Please drop a comment below if there's a particular topic you'd like us to cover. We take all the comments and suggestions very seriously. Remember, nothing you hear on the show is meant to be construed as legal and or financial advice. Please consult your own attorney if you're going to take the plunge. Neither discussion of nor the fact that we may own certain assets or products covered on this show is not meant to be an endorsement under any circumstances.

Kyle Lawrence [00:30:20]:
Very special thank you to producer Chris, who's very busy right now, but without him, the show would not be possible. So thank you, producer Chris. So just remember, all's fair and love in Crypto on behalf of Moish Peltz, I'm Kyle Lawrence. Thanks for tuning in, everybody.

Moish Peltz [00:30:34]:
See you next time.