Glad to see that the President lands on the side of logic and sanity on the stablecoin yield issue. Banks make plenty of money. American savers deserve options. Competition is good. If selfish anti-American Wall Street lobbying kills crypto progress then foreign jurisdictions prevail.

Vitalik's new approach to L2s is how many of us understood them in the first place: Rollups expand the expressibility and customizability of Ethereum security. Some optimize for a different tech stack. Others for usability, and yet others for scale. L2s let devs and users choose their own adventure. This is what I meant when I said that the monolithic chain approach is cryptoeconomic socialism and the modular capitalism. All of TradFi is modular in some way, because it makes practical and economic sense to offer a spectrum. The crypto version is superior however, because it's the devs and users who decide which part of the stack they use, not the Suits or the Man.