Season 4 (2023) is shaping up to be the most memorable yet, with drama in both the speaker’s race and crypto policy. The industry is at its lowest point in the show’s history as the damage done by FTX’s collapse continues to reverberate. Relationships are tarnished, skeptics are more emboldened than ever and, in some cases, crypto is seen as politically toxic. Divided control of Congress provides opportunities for the industry, but it will take dedicated negotiations, education and political power to move anything. Fortunately, these are familiar challenges for the industry; every step in crypto policy is a brutal, bruising slog, but that is also what makes the back and forth so fun to watch.