ROLLUP: Markets Down | Tether $500B Raise | South Park x Polymarket | Gensler Grilled

Ryan Sean Adams and David Hoffman discuss the current state of the crypto market, including recent price drops and Peter Schiff's bearish takes, before diving into several topics: Vitalik Buterin's bullish stance on DeFi, Polymarket's feature on South Park, Tether's potential $500 billion valuation, and regulatory updates involving Gary Gensler and Paul Atkins. They also touch on a debate within the crypto community regarding layer two regulation, shout out to their sponsor ZeroG, and share Tim Cook's crypto holdings. They further analyze BlackRock's crypto revenue, BitGo's IPO filing, and the implications of Tether's potential valuation surpassing Ethereum. The hosts then explore Polymarket's appearance on South Park, Gary Gensler's CNBC interview, and potential pro-crypto regulations. Finally, they discuss Vitalik's bullish views on DeFi, Synthetix's Perpdex, and the debate around regulating BASE like a securities exchange, concluding with news about Vietnamese banks deleting millions of accounts.