This week in crypto: Regulation, liquidations, and the stablecoin supercycle.

In this episode:

• SEC unveils plans for a new “innovation exemption” to fast-track crypto products
• $1.7B liquidation wipes out 400K traders, market viewed as “reset”
• Binance-backed Aster DEX challenges Hyperliquid; Plasma L1 launches with $2B TVL
• Tether eyes $500B valuation; BlackRock files yield-focused Bitcoin ETF
• Stablecoins settle $18T in 2025—surpassing Visa and Mastercard