RFK Jr. suggests Americans can more easily afford groceries if they start eating liver instead of beef: "Most of the cheap cuts of meat are very inexpensive. You can buy liver or the cheap cuts."

I am very disappointed in all of you.

Trump: I know more about inflation, I know more about everything than anybody in this room. Anybody anywhere in the world.

The @SECGov 's proposed Regulation Crypto Assets is a hot mess. In our comment letter, @JohnReedStark and I ask the SEC to withdraw the proposal in its entirety. For a decade, the SEC persuaded federal judges appointed by six Presidents that unregistered token sales are securities offerings, compiling more than 200 enforcement victories. The proposal would exempt the very transactions those courts found easiest to classify. On September 15, the Senate declined even to begin debate on the CLARITY Act. The Senate's text would have directed the SEC to adopt a "Regulation Crypto," with a $200 million lifetime cap, a bar on companies organized abroad, and mandatory holding periods for insiders. The SEC's proposal allows $75 million every 12 months with no overall cap, opens its startup exemption to companies organized anywhere, and imposes no holding period on insiders. The agency is writing by rule a looser version of a bill the Senate would not take up. The treatment of insiders is more generous still. @Coinbase urged the SEC to limit token sales by development teams until a network is "sufficiently decentralized." The SEC's proposing release concedes that a one-year holding period for insiders "could benefit potential investors by strengthening investor protection," then rejects one, observing that "an exit of a large insider could potentially result in a broader base of investors." That broader base is the retail public, buying what the insider is selling. The proposal also treats work to "secure" a functioning network as categorically outside the managerial efforts that make a token an investment contract. Yet migration to post-quantum cryptography may decide whether many tokens retain any value, and neither the proposing release nor the SEC's March 2026 interpretation mentions quantum computing. The Senate Banking Committee's CLARITY text includes a finding that quantum advances threaten "the security of digital assets." The exemptive authorities the SEC invokes, Section 28 of the Securities Act and Section 36 of the Exchange Act, are backstop provisions enacted in 1996. With Chevron deference gone after Loper Bright, a court will decide for itself whether they authorize a parallel offering regime for an entire asset class, and we believe any final rule resembling this proposal will be vacated. The SEC cannot enact by rule what Congress has declined to enact by law. The full letter, all 235 footnotes of it is here: sec.gov/comments/S7-2026-27/… #crypto #SEC