As others have noted, yesterday's CRA vote was particularly significant because it represents a reduction or even elimination of the existential tail risk in the US. Conversely, productive policy tailwinds got a big boost. We may see close to 50% Dem CRA support in the house, which is ... remarkable. Odds of a stablecoin bill passing this year are higher. Odds of a return to extreme hostility with Dems retaking Congress or the Presidency are much lower. Gains made under a Trump admin are going to be more sticky. Overton window of policy disagreements shifts more toward natsec/privacy issues and not containment. Repeat after me, there is no anti-crypto army. I don't think we ever see an ambush like we saw in the infrastructure bill ever again. It won't always be all roses, but this was significant confirmation of a major Dem pivot. Biggest enemy right now may be intra-crypto jockeying as the new landscape forms.