Nic and Matt are back for another week of news and deals. In this episode: 

• The Fat Model Thesis
• Are OAI and Anthropic in real trouble with Kimi?
• The Bitcoin Security Consortium is announced to tackle quantum risk
• Galaxy announces their Quantum Readiness Initiative
• Clarity is beleaguered in Washington
• Polymarket and Kalshi keep feuding
• The SEC settles with Coinbase over Gensler's lost text messages
• We uncover some new documents revealing that Genesis inadvertently kicked off the UST depeg
• Jack Mallers leaves the XXI Capital DAT
• Movement Labs declares bankruptcy
• BitMEX finally winds down their exchange
• Balaji's Network State is unceremoniously evicted from of Malaysia
• The SEC warns about crypto vaults
• Matt comes around on soccer