On The Brink with Castle Island

Matt and Nic return for another week of news and deals. In this episode:  The Cointelegraph SNAFU  The NYAG sues Gemini, Genesis, and DCG  The FTX trial isn't going well for Sam  The latest with FTX clawbacks Elon files an amicus brief in a case against SEC Sen Warren's latest anti-crypto letter  Chainalysis debunks the WSJ's false narrative about crypto financing for Hamas Larry Fink supports Bitcoin now  We profile the Silk Road hacker Content mentioned in this episode:  Nic interview with Bermuda Premier David Burt Chainalysis, Correcting the Record: Inaccurate Methodologies for Estimating Cryptocurrency’s Role in Terrorism Financing CNBC, The secret life of Jimmy Zhong, who stole – and lost – more than $3 billion Sponsor notes:  Coin Metrics STATE OF THE NETWORK — Exploring Supply Transparency  In this joint report by Coin Metrics & Bitcoin Suisse, we explore token supply and ownership dynamics in digital asset markets

Nic travels to Bermuda to sit down with the Premier, Hon. E. David Burt to discuss digital asset policy and the emerging crypto ecosystem on the island. In this episode: The origins of the Digital Asset Regulation in Bermuda Catalysts that have led crypto firms to take Bermuda seriously as a domicile Premier Burt’s evangelization of Bermuda regulation on the crypto circuit Why Bermuda is a good place for a crypto firm to do business The “bermuda triangle” (government, industry, and regulator) How Bermuda straddles the risk of digital assets with the potential for innovation How the Premier aims to incorporate local residents into the tech industry here What the Premier is happy about regarding Bermuda’s regulatory strategy for digital assets Which sectors within the crypto space the Premier is focusing on at the moment How Bermuda is situated relative to other financial regulators Premier Burt’s view on regulatory passporting Thanks to Penrose Partners.

Matt and Nic are back for another week of news and deals. In this episode:  Holland versus the Netherlands  The end of Pax Americana Ditching the 'stablecoin' term Why synthetic USD is not the next Luna Caroline Ellison testifies SBF wanted to be president How Teneo worked with Singapore to apprehend Su Zhu Will criminal charges ever be leveled against the 3AC principals? Lightning is getting more efficient  Content mentioned in the episode:  Nic and Martin join the Empire podcast Do we need a TARP 2.0?  Sponsor notes:  Coin Metrics STATE OF THE NETWORK — Q3 2023 Wrap-Up In Coin Metrics State of the Network Issue 228, we set out to analyze USDC's supply loss and its impact on Circle

Guy Young, founder and CEO of Ethena, talks about the design of synthetic stablecoins and their use of staked ETH as collateral. They discuss the challenges faced by previous stablecoins, the correlation dynamics between ETH yield and funding rates, and the possibility of adding Bitcoin as collateral. They also explore the shrinking supply of stablecoins, the impact of traditional finance yield, and the differences between PayPal's stablecoin and their traditional product.

Walter Isaacson, biographer of Elon Musk, Lewis, author of Going Infinite, Su Zhu jailed in Singapore, and Bharat Ramamurti discuss topics like Elon Musk's potential Twitter acquisition, tungsten obsession, FTX solvency, Ethereum's security, OCP 2.0 architect departing White House, and Bitcoin lab leak. Coinbase gets a license in Singapore.

Matt Hougan, the Chief Investment Officer of Bitwise Asset Management joins the show. In this episode we discuss: The SEC’s approval of Ethereum Futures ETFs Bitwise’s launch of AETH, The Bitwise Ethereum Strategy ETF and BTOP, the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. The current state of play as it relates to Bitcoin spot ETF filings. The SEC’s approach and posture given the Grayscale court case. The current lay of the land in the institutional market as it relates to digital asset products. To learn more about Bitwise visit bitwiseinvestments.com  

David Phelps, co-founder and CEO of jokerace and a prolific writer, discusses alternative ways to incentivize users and distribute decision making power, the limitations of tokens for governance, and the power of co-creation in unlocking creativity. They also delve into the concept of being in a post-token world and the importance of personal contribution and involvement in co-creation.

AI causing unemployment for IB associates, blockchain-based sneakers, Nic's Vespa catastrophe, Gensler's HSFC hearing and controversy, made up airlines, FTX trial starting next week

Topics discussed include the Bitcoin security budget debate, Tether's resumption of lending operations, SBF's parents involvement, stablecoin legislation in HK, and a comparison of experiences in Singapore and New York.

Henri Stern, CEO and co-founder of Privy, joins us to discuss: The contradictory functions that wallets serve Offering in-app non-custodial embedded wallets Balancing the trade offs of security versus convenient recovery How customers are customizing their embedded wallet experience The decision to build third party wallet connectors and embedded wallets