U.S. credit got downgraded. Fed policy expectations are flipping. And Coinbase hit the S&P 500 (while also being extorted).But what does all of this mean for crypto?On this week’s Bits + Bips, James Seyffart, Alex Kruger, Ram Ahluwalia, and Noelle Acheson break down: Why the Moody’s downgrade doesn’t mean much for markets Whether Fed rate cuts are now further off than expected Why Alex says Coinbase is a “horrible product” despite S&P inclusion How stablecoins tie into U.S. geopolitical strategy Whether Circle should sell to Coinbase And what the altcoin ETF delay really tells usPlus: unemployment, yield curve control, the “Consensus vibes,” and Ram’s wild anecdote about workers gaming unemployment benefits. Bitwise James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter Macro Reuters: Moody's downgrade intensifies investor worry about US fiscal path USNews: Trump Tells Walmart to 'Eat the Tariffs' Instead of Raising PricesCoinbase Unchained: How the Attack on Coinbase Shows the Dangers of Centralized Exchanges Fortune: Circle pursues IPO—but talks with Coinbase and Ripple could mean a sale, sources say CNBC: Coinbase joining S&P 500, replacing Discover FinancialStablecoin bill Unchained: Stablecoin Bill Passes Key Hurdle: Dems Join GOP to Deliver a Crypto WinTimestamps:👋 💳 📉 🛡️ 🔁 📊 🧾 📈 💼 🫱 💵🇨🇳 📈 🌀 ⏳ Learn more about your ad choices. Visit megaphone.fm/adchoices