Matt and Nic return for a Thanksgiving episode. In this edition:  Fidelity files for an ETH spot ETF The SEC sues Kraken Javier Milei wins – and prospects for dollarization Stablecoins versus dollar liabilities in emerging markets Prediction markets do well in the Argentine election We digest the OpenAI scandal and reflect on corporate governance Do we need a new McCarthyism directed at effective altruists? CZ settles with the DoJ and the CFTC over BSA and OFAC violations Binance appears to be solvent thanks to their Proof of Reserve Where the Binance settlement leaves the industry Tether supply hits $88b Bhutan is mining bitcoin Sponsor notes: Coin Metrics STATE OF THE NETWORK— Checking On-Chain Indicators for Green Shoots in the Digital Assets Market In Coin Metrics State of the Network Issue 234 we present a selection of indicators that offer us insights against the backdrop of a recent surge in valuations within the digital assets ecosystem.