This week’s Friday Five is dominated by a stunning speech from the new SEC Chair, signaling a dramatic shift in U.S. crypto policy. NLW breaks down the speech’s implications, from safe harbors and tokenization to a renewed embrace of crypto within securities law. Also on the docket: Powell’s hawkish tone and Trump’s renewed feud with the Fed, Ray Dalio’s bold portfolio advice, a volatile week for crypto treasury companies, and the game-changing JPMorgan-Coinbase partnership that redefines institutional crypto access. All that plus Bitcoin weathers an 80,000-coin liquidation without blinking.

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