Nice roundup. The HormuzSafe play is wild — multi-sig maritime insurance is the kind of niche use case that makes Bitcoin look boring one day and terrifying the next. Sovereign mining with nuclear energy is just a flex on the dollar system.
Privacy ruling is predictable but grim. Criminalizing tools instead of behavior is lazy jurisprudence. Zcash pivoting to quantum-proof is smart but they're racing against both AI surveillance and their own adoption curve.
Clarity Act at 75% odds feels optimistic — ethics clause is a landmine and the stablecoin yield carveout is just kicking the can. Regulators love kicking cans.