(0:00) The Besties welcome Gavin Baker!
(1:51) Markets: Pricing in tariffs, Trump vs. Powell, solving the debt crisis
(19:24) The $10 trillion AGI prize, what artificial general intelligence and superintelligence looks like in the economy
(38:33) Sacks and Bo Hines join to discuss the GENIUS Act and the CLARITY Act passing the House this week, and what it means for crypto in the US
(52:42) AI Infrastructure: $90B in new investments announced, Nvidia H20 export restrictions lifted
(1:06:06) Sacks interviews Senator Bill Hagerty on the passing of the GENIUS Act
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Referenced in the show:
https://www.bloomberg.com/news/articles/2025-07-16/trump-likely-to-fire-powell-soon-white-house-official-says
https://www.nytimes.com/2025/07/16/us/politics/trump-powell-firing-letter.html
https://polymarket.com/event/fed-decision-in-september?tid=1752872350388
https://www.cnbc.com/2025/07/15/cpi-inflation-report-june-2025.html
https://www.cnbc.com/quotes/US30Y
https://polymarket.com/event/will-trump-remove-jerome-powell
https://polymarket.com/event/who-will-trump-announce-as-next-fed-chair?tid=1752854752131
https://www.politico.com/live-updates/2025/07/15/congress/house-gop-crypto-bills-trump-00455645
https://www.nytimes.com/2025/07/15/us/politics/trump-ai-pittsburgh-speech.html
Today, we discuss the recently passed Genius Bill with Senator Bill Hagerty, a key architect behind the legislation aimed at stabilizing the U.S. stablecoin market. Following a significant bipartisan Senate vote of 68-30, Sen. Hagerty shares insights on the evolving congressional perception of cryptocurrency, moving from skepticism to support. The bill seeks to foster a regulatory environment that encourages innovation while protecting users and maintaining America’s leadership in financial technology. The episode also highlights the potential economic benefits of a strong stablecoin framework and addresses concerns regarding Central Bank Digital Currencies (CBDCs).
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TIMESTAMPS
0:00 Introduction to the Genius Bill
5:43 Welcoming Senator Bill Haggerty
8:55 Next Steps for the Bill
11:16 Why America Needs Stablecoin Law
14:07 Fostering a Domestic Stablecoin Economy
15:23 Addressing Detractors of the Bill
18:06 Understanding Stablecoins vs CBDCs
20:27 Who Can Issue Stablecoins?
21:01 Path for Offshore Issuers
23:54 Surveillance Concerns with Stablecoins
26:10 Addressing the Trump Loophole
27:34 The Bipartisan Nature of Crypto
28:52 Senator Haggerty's Evolution on Crypto
32:17 Establishing a Clear Regulatory Framework
34:51 Future Steps for the Crypto Industry
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RESOURCES
Sen. Bill Hagerty: https://x.com/SenatorHagerty
The GENIUS Act: https://www.congress.gov/bill/119th-congress/senate-bill/394/text
Sec. Bessent’s Tweet: https://x.com/SecScottBessent/status/1935027160374210573
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