New SEC Crypto Proposal Could Finally Fix Tokens

Hosts Jason Yanowitz, Santiago Roel, and Rob Hadick discuss whether the SEC's new crypto framework can meaningfully change token design, capital formation, and investor protections. The conversation covers the four-year cycle, Hyperliquid's institutional moment, winners and losers from regulatory clarity, and which projects might move first under the new rules. They also touch on token transparency reaching Bloomberg and Travis Kalanick as an example of peak founder mode. The episode closes with a content-of-the-week segment.