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A new presidential memorandum lets vetted private firms run offensive cyber operations against foreign hackers, and Chris Perkins helped write the original pitch eighteen months before it became policy.

Perkins, Head of Franklin Crypto, and Austin Campbell, Founder of Zero Knowledge Group, unpack the letters-of-marque-style memo: the $1 million escrow bond, the sixty-day rulemaking window, and why North Korea’s Lazarus Group sits at the center of the attribution debate. Legal scholars call it a war powers problem and a violation of international law on piracy; Perkins calls it the only workable answer to $21 billion in crypto theft last year.

They also dig into World Liberty’s conditional OCC trust bank charter for its USD1 stablecoin, Treasury’s new guidance on Genius Act stablecoin reciprocity, and why Coinbase’s US platform may need to delist Tether. Plus, the SEC abruptly postpones its crypto rulemaking meeting while the CFTC keeps moving.

Campbell’s verdict: after 2028, a new administration could turn World Liberty’s own bank charter into the industry’s biggest liability.

Hosts:

    • Austin Campbell, Founder, Zero Knowledge Group; Adjunct Professor, NYU Stern
    • Chris Perkins, Co-host of Bits + Bips and Head of Franklin Crypto