Public Key

The FBI created the Virtual Assets Unit to spearhead the agency’s efforts alongside a network of distributed experts to combat the misuse of digital currencies in criminal activity. In this episode, Gurvais Grigg (former Chief Technology Officer, Global Public Sector, Chainalysis) gained insights from Patrick Wyman (Unit Chief - Virtual Assets Unit, Federal Bureau of Investigation (FBI)) into the intricacies of the FBI's approach to managing and monitoring virtual assets. Patrick Wyman shares insights from his extensive career focused on white-collar crimes and articulates the critical importance of fostering collaboration among personnel and divisions, highlighting the unit's journey from a segmented array of expertise to a cohesive force capable of tackling financial crimes across all investigative areas. This episode dissects the FBI's innovative strategies to maintain efficiency and agility amidst the rapidly evolving virtual asset landscape, but also highlights the challenges the public sector has in staying ahead of the crypto criminals.  Minute-by-minute episode breakdown 2 | Patrick's Journey at the FBI and Leading the Virtual Assets Unit  5 | Exploring FBI's Approach to Virtual Assets and White Collar Crime 8 | FBI's Virtual Assets Unit Unifies Expertise Across Divisions 12 | Enhancing Crypto Literacy and Leadership Engagement in the FBI 15 | Emerging Threat Typologies in Crypto Crime  19 | Managing Expertise and Resources in a Dynamic Environment 24 | Seizing Crypto Assets to Disrupt International Criminal Activities 29 | Challenges and Future of Cryptocurrency in Law Enforcement 33 | Building Sustainable Programs Through Strategic Planning and Growth Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Mission First: To protect the American people and uphold the Constitution of the U.S. Press Release: ABA Foundation and FBI Release New Infographic to Help Americans Spot and Avoid Deepfake Scams Blog: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack Article: United States Files Civil Forfeiture Complaint Against $225 Million in Funds Involved in Cryptocurrency Investment Fraud Money Laundering Blog:  The 2025 Geography of Crypto Report (Reserve Your Copy Now!) Blog: DPRK IT Workers: Inside North Korea’s Crypto Laundering Network Blog: Customer Spotlights: Hear from Zodia Custody, Grant Thornton and many more YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Gurvais Grigg (former Chief Technology Officer, Global Public Sector, Chainalysis) Patrick Wyman (Unit Chief - Virtual Assets Unit, Federal Bureau of Investigation (FBI)) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

With over a decade of experience, James Barnacle (Deputy Assistant Director, Federal Bureau of Investigation (FBI)) joins Jonathan Levin (CEO & Co-founder, Chainalysis) for a deep dive into the nexus of cybercrime, cryptocurrency and the evolving challenges faced by law enforcement.  James shares insights into the history and progression of the FBI’s strategies in combating cryptocurrency-enabled crimes, shedding light on intricate cases involving ransomware, fraud, and terrorism financing. This conversation goes in depth on the FBI’s approach to multi-agency cooperation, including the establishment of the Virtual Assets Unit and response teams across field offices and the importance of victim reporting when it comes to pig butchering and other crypto investment schemes. This is an episode you won’t forget.  Minute-by-minute episode breakdown 2 | Background of James Barnacle  4 | Beginning of the FBI's Involvement with Cryptocurrency 7 | The Evolution of Cryptocurrency Use in Criminal Investigations 10 | Establishment of the Virtual Assets Unit in the FBI 14 | FBI’s Approach to Ransomware Investigations 20 | International Private Sector Collaboration and Strategy in Fraud Cases 25 | Addressing Elderly Fraud and Pig Butchering 31 | Impact of Sanctions on Fraud Prevention 37 | North Korea's Involvement in Cryptocurrency Theft 40 | Importance of AI and Machine Learning in Law Enforcement 48 | Encouragement for Public and Private Sector Cooperation   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Mission First: To protect the American people and uphold the Constitution of the U.S. Press Release: Ransomware Administrator Charged with Cybercrimes for Deploying “Lockergoga,” “Nefilim,” and “Megacortex” Ransomware Strains Against Hundreds of Victims Report: Operation Level Up: Notifying Victims of Crypto Investment Fraud Blog: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack Blog:  The 2025 Geography of Crypto Report (Reserve Your Copy Now!) Blog: The Venus Protocol Incident: How Hexagate and a Community Stopped a Hack and Enabled a Swift Recovery Blog: Seoul Police Crack International Hacking Ring with Chainalysis Solutions YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Jonathan Levin (CEO & Co-founder, Chainalysis) James Barnacle (Deputy Assistant Director, Federal Bureau of Investigation (FBI)) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

The evolution of the cybercrime landscape in the UK has evolved rapidly and in this episode, Andrew Gould (Detective Chief Superintendent & Cybercrime Team Lead, National Police Chiefs'​ Council (NPCC)) shares deep insights with Jim Lee (Global Head of Capacity Building, Chainalysis) on how the NPCC has built their capacity in handling crypto investigations.  Andrew explains how his cybercrime unit has orchestrated a collaborative national response towards cyber threats and ransomware attacks and the strategic approaches towards building and enhancing investigative capabilities. He discloses how government funding and developing training programs were instrumental in empowering officers against cyber threats and establishing partnerships with the private sector, Chainalysis and international law enforcement has been a key to their success. Minute-by-minute episode breakdown 2 | Early Days of UK Cybercrime and Bitcoin 5 | Role of the National Police Chiefs’ Council in the UK 8 | Building a National Capability in Cybercrime 12 | Combining Blockchain Data with Other Data Sets 15 | Partnerships with Private Sector and Future Vision of Law Enforcement Collaborations 18 | Challenges and Best Practices in Building Crypto Capacity In Law Enforcement 23 |Future of Crypto Investigations - Looking Toward 2030 25 | Seizing Crypto Criminal Proceeds to Finance Law Enforcement Capacity Building    Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: NPCC: Bringing UK police leaders together to set direction in policing and drive progress for the public Announcement: National Cybercrime Team Awarded Chainalysis Public-Private Partnership Award at Links 2025 Reports: NCCP POLICING VISION 2030 Report: Strategic Policing Partnership Board Blog: Legislated Sanctions Evasion: How the Garantex Rebrand, Grinex, and the Ruble-Backed Token, A7A5 Have Shaped Russia’s Shadow Crypto Economy Blog: The US and Canada Join Forces to Combat Scams, Seizing Millions in Crypto Blog: Chainalysis Rapid is Here: AI-Powered Crypto Triage for Any Investigator YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Jim Lee (Global Head of Capacity Building, Chainalysis) Andrew Gould (Detective Chief Superintendent & Cybercrime Team Lead, National Police Chiefs'​ Council (NPCC)) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.   

Evy Theunis, Head of Digital Assets at DBS Bank, shares her expertise in finance and innovation in the context of Singapore's thriving digital asset landscape. She delves into DBS's groundbreaking initiatives, including their own digital asset exchange, and the importance of regulatory frameworks in this evolution. Evy discusses the increasing demand from high-net-worth clients for digital assets, DBS's collaborative approach to crypto trading, and how the bank is shaping the future of finance amidst rapid technological advancements.

Rollups have been the go-to solution for scaling blockchains while being able to maintain the security properties and credible neutrality that blockchains like Ethereum, have really been come to known for. In this episode,  Andrew Huang (Founder, Conduit) shares some core insights with Brian Alapatt (Senior Solutions Architect, Chainalysis) about various crypto applications leveraging rollups to enhance their transactional prowess and customer engagement. Andrew unpacks the concept of rollup technology and how it is used to support scalable and customizable blockchain applications, reminding the audience that they are quintessential in reducing blockchain transaction costs, thereby making platforms more accessible. Andrew shares that through Conduit’s "rollup as a service" model, businesses, including fintech and traditional finance companies, can use private blockchains, vastly improving economic efficiency and innovation in the crypto landscape. Minute-by-minute episode breakdown 2 | Andrew Huang's Journey to Founding Conduit and Crypto's Potential 4 | What Are Rollups and How Are They Helping to Scale Ethereum  9 | Advantages of Custom Blockchains for DeFi and High-Performance Apps 13 |  Ethena and Their Synthetic Dollar and Yielding Stablecoin Rollup Using Conduit 17 |  Ethereum Rollups: Scaling Challenges and Future Opportunities 20 |  A Breakdown of BASE and The Future of Exchanges and Blockchain Rollups 23 |  The Rise of Stablecoins in International Payments 26 |  The Future of Crypto Scaling with Rollups and Customization 30 |  Strategic Partnerships and Technology Stacks in Blockchain Development Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Conduit: Powerful Chain Infrastructure Announcement: Ethena, Securitize Target Q2 Mainnet Launch for RWA-Focused Blockchain, Tap Arbitrum, Celestia Announcement: Katana Foundation Announces Katana Network, Incubated by Polygon Labs and GSR Blog: Paradigm, Haun Ventures co-lead $37 million round in Conduit Blog:Chainalysis’ 5 Takeaways from Today’s Senate Banking Committee Hearing on Digital Assets Blog:First-Ever Crypto Seizure in Greece: How Chainalysis Reactor Helped Authorities Recover Funds from the $1.5B Bybit Hack YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Brian Alapatt (Senior Solutions Architect, Chainalysis) Andrew Huang (Founder, Conduit) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

In this discussion, Ryosuke Ushida, Chief FinTech Officer at Japan's Financial Services Agency, shares insights on Japan's pioneering role in crypto regulation following the Mt. Gox collapse. He reveals how Japan balances innovation with risk management, emphasizing self-regulation and cross-agency cooperation. Ryosuke discusses the evolution of stablecoin regulations, the importance of international policy harmonization, and addressing cybersecurity threats. His perspective highlights Japan's proactive stance, making it a global leader in shaping crypto regulatory frameworks.

In this episode,  Jim Lee (Global Head of Capacity Building, Chainalysis) sits down with Richard Las (Chief Investigation Officer, Director Fraud Investigation Service, HM Revenue & Customs) to discuss cutting-edge developments in tax fraud investigations. Richard shares his experience in managing a multi-faceted team and emphasizes the importance of international collaborations in combating financial crime, while sharing HMRC's approach to tax compliance, the impact of technological advancements in investigation and the role of public-private partnerships in reinforcing global financial security. The episode highlights the use of intelligence-led investigations, showcasing how data and private sector partnerships augment HMRC's efforts and how strategic data analysis aids in the fight against tax evasion, particularly with regard to burgeoning areas like crypto assets.  Minute-by-minute episode breakdown 2 | Richard Las' background and his role at HMRC 4 | HMRC's fraud investigation service and capabilities 7 | Tax obligations for crypto holders in the UK 10 | Civil vs criminal tax offenses in undisclosed crypto gains  12 | International cooperation against tax evasion 15 | Public Private Partnerships and leveraging crypto service providers Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: HMRC: UK’s tax, payments and customs authority Report: HMRC Internal Manual: Cryptoassets Manual Guidance: 01Jan2026: New data collection and reporting requirements for UK Cryptoasset Services Forum: HMRC Community Forums - Crypto Tax (BETA) Blog: Huione Carries On: Chinese-Language Platform’s Persistence Reveals the Complexity of On-chain Financial Crime Disruption Announcement: Chainalysis and Aptos Foundation Partner to Increase Trust and Security YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Jim Lee *host* (Global Head of Capacity Building, Chainalysis) Richard Las (Chief Investigation Officer, Director Fraud Investigation Service, HM Revenue & Customs) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

If we look out 5-10 years, what is going to be more important to the next generation. Is it their digital life or their physical life? In this “Live from Links” episode, Patrick Ghion, Chief Cyber Strategy Officer for the Geneva Cantonal Police and an active member of the INTERPOL Metaverse Expert Group provides his answer to  Jim Lee (Global Head of Capacity Building, Chainalysis), who spent almost 30 years with IRS Criminal Investigation team. The duo discusses the complexities of law enforcement's evolving landscape in the digital age and the critical role of public-private partnerships and academia in combating cybercrime. Patrick provides context around the creation of regional Cyber Competence Centers (RC3) and the progress law enforcement is making in the metaverse, while encouraging  police departments to strategize for future threats, training, and the integration of AI. Minute-by-minute episode breakdown 2 | Patrick’s career progression and intro to Regional Cyber Competence Center (RC3) 5 | Metaverse policing strategy and approach to “Vision 2030” 7 | Societal shift to report cybercrimes to police in the metaverse than in real life 11 | Public-Private and Academic Partnerships 15 | Hiring strategy for law enforcement for crypto and AI  19 | Reflections on Links Conference and networking   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Geneva Police: Protect and Serve Blog: Vision 2030+: Geneva Police in the Metaverse Blog: Chainalysis Links NYC 2025 – Day 1 Showcases Innovation, Security, and Collaborative Power Chainalysis In Action: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack Blog: AI-Powered Crypto Scams: How Artificial Intelligence is Being Used for Fraud YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Jim Lee *host* (Global Head of Capacity Building, Chainalysis) Patrick Ghion (Chief Cyber Strategy Officer, Geneva Cantonal Police) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

How does someone who has been through multiple bear and bull markets in crypto, cope with such a volatile industry? Keep Building.  In this “Live from Links” episode, Caitlin Barnett, Director of Regulation & Compliance at Chainalysis) reconnects with her former Gemini co-worker, Ira Auerbach (Head of Tandem, Offchain Labs) as they go deep on the scalability and innovation challenges and successes on the Ethereum blockchain.  Ira shares the initiatives at NASDAQ and Gemini that bridged traditional finance products to the crypto market and how his focus has shifted at Offchain Labs, where they are fostering blockchain innovation, solving complex computational challenges and emphasizing stablecoins' impact on market dynamics. A great episode for founders, investors and compliance folks in the crypto industry.  Minute-by-minute episode breakdown 2 | Lessons from many crypto bull and bear markets 4 | Focus on institutional solutions and stablecoins 6 | Offchain Labs and Arbitrum improve scalability and usability on Ethereum 8 | Blockchain gaming, decentralized sequencers and fully homomorphic encryption (FHE) 10 | Tandem's partner studio and venture capital Approach 12 | Current crypto investment landscape 14 | Camelot and the industry’s shift to DeFi after centralized collapses 16 |Future of investing in blockchain and AI 18 | Thoughts on stablecoin infrastructure players in the industry Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Offchain Labs: Scaling Ethereum Without Compromise Blog: Bringing Interoperability to Arbitrum and Ethereum Announcement: Tandem by OCL Invests in Camelot, the Largest Native DEX on Arbitrum Blog: OFAC Sanctions Funnull Technology Inc. for Supporting Pig Butchering Scams Blog: Bitcoin Strategic Reserves: Behind the Changing Architecture of Sovereign Finance Blog: AI-Powered Crypto Scams: How Artificial Intelligence is Being Used for Fraud YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Caitlin Barnett *host* (Director of Regulation & Compliance, Chainalysis) Ira Auerbach (Head of Tandem, Offchain Labs) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Carlos Salinas, Head of Digital Assets at Morabanc, discusses the innovative intersection of fintech and traditional banking in Andorra. He emphasizes how regulatory frameworks have positioned his bank ahead of European counterparts in adapting to digital assets. The conversation explores the rise of stablecoin-based settlement solutions that enhance transaction efficiency. Salinas also draws parallels between the evolution of derivatives and cryptocurrencies, highlighting the critical need for banks to evolve or risk obsolescence in the face of rapid technological change.