This Bankless podcast episode features an interview with Alex Thorn, head of Firmwide Research at Galaxy Digital, discussing recent events in the crypto world. The conversation covers President Trump's pardon of Ross Ulbricht (Silk Road founder), the launch of a Trump-branded meme coin on Solana, and the implications of a new, more crypto-friendly SEC leadership. Thorn analyzes the significance of these events for the crypto industry, highlighting the potential for increased regulatory clarity and the ongoing debate surrounding privacy-enhancing technologies like Tornado Cash. A key takeaway is the surprising acceptance of the Trump meme coin within the crypto community, despite initial skepticism, and the ongoing legal battles surrounding privacy tools. The discussion concludes with a hopeful outlook for future regulatory developments and the potential for tokenization of traditional assets.