Talking Tokens

In this episode of Talking Tokens, Jacquelyn Melinek speaks with Shane Molidor, founder and CEO of Forgd, an investment banking and advisory platform that helps blockchain projects design sustainable token economies and improve market transparency.The discussion covers why crypto still struggles with low liquidity and poor disclosure standards, how market makers shape price discovery, and what it really takes to build a fair and efficient token launches. Shane explains why many founders misunderstand market-making agreements, what “predatory engagements” look like, and how Forgd is working to introduce transparency and data-driven decision-making across the industry.They also explore how Forgd’s platform tracks market maker performance, why most projects over-index on hype instead of fundamentals, and what’s needed for crypto to mature from its “teenage years” into a regulated, professional market.This episode is sponsored by Forgd. Thousands of Web3 projects leverage Forgd’s free tools to design smarter tokenomics, engage market makers on fair terms, plan listings strategically, and monitor liquidity after launch. Start using the Forgd platform for free, or sign up for white-glove advisory services, at Forgd.comTimestamps(00:00) - Intro (01:10) - What Forgd is and why Shane founded it (02:35) - Problems with token launches and market manipulation (04:10) - The “signal vs noise” problem in today’s crypto cycle (06:06) - Comparing crypto’s maturity to its “teenage years” (07:52) - How institutions are approaching token liquidity (09:40) - Why regulatory ambiguity created poor market hygiene (11:06) - The challenge of offshore foundations & token issuance (13:24) - Why teams avoid U.S. entities and what that costs the industry (15:00) - Price vs value: how momentum often replaces fundamentals (17:25) - How illiquidity distorts fair value in thinly traded markets (19:22) - Why token standards and disclosures are critical for investors (21:42) - Market structure, transparency, and efficient price discovery (23:30) - Liquidity depth, tight spreads, and capital efficiency explained (25:55) - Why most founders shouldn’t need to master capital markets (27:50) - The real role of market makers (30:40) - Common market-making contracts and their trade-offs (32:06) - How “loan plus call option” deals can harm token projects (35:10) - Forgd’s market maker leaderboard and how it works (37:20) - Bringing data-driven transparency to token launches (40:00) - Why full disclosure should become an industry standard (42:35) - The cultural resistance to transparency (45:23) - How Forgd plans to automate advisory work with AI (47:12) - Lessons from 10 years in crypto & building with integrity (49:11) - Closing thoughts and final adviceYou can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

In this discussion, Qiao Wang, founding partner at Alliance DAO and an early-stage crypto investor, delves into the evolving landscape of crypto startups. He emphasizes how the focus is shifting to real-world utility, particularly with stablecoins and AI-driven tools. Qiao shares insights on the resurgence of U.S.-based founders and highlights emerging trends in B2B cross-border payments. He also addresses the importance of staying niche before expanding globally and the role of AI in ensuring better product design and market strategies.

In this episode of Talking Tokenization, Jacquelyn Melinek speaks with Carlos Domingo, Co-Founder and CEO of Securitize, following the company’s announcement that it will go public through a SPAC merger valuing it at $1.25 billion and the launch of a tokenized fund with BNY.The conversation explores why Securitize chose to go public now, how the move fits into its broader mission of bringing real-world assets onchain, and what it means for the growing tokenization market. Carlos discusses the regulatory process behind going public, the importance of transparency and governance for institutional partners, and why he believes tokenization is entering a period of real adoption after years of experimentation.They also cover Securitize’s new tokenized collateralized loan obligation (CLO) fund, the company’s partnership with BNY and Grove, and how these collaborations are paving the way for more yield-bearing products to come onchain.Sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.This episode is sponsored by Fireblocks, the stablecoin infrastructure of choice for top global businesses, from Visa and Worldpay to Bridge and Revolut. Learn more at fireblocks.com.Timestamps(00:00) - Intro (01:00) - Why going public strengthens governance, transparency, and trust (02:10) - How Securitize’s decision came together after Circle’s successful IPO (03:30) - The regulatory process behind the SPAC merger and SEC approval timeline (05:19) - The return of the IPO market and why crypto companies are leading it (06:36) - Why early public listings can instill discipline in growing companies (07:57) - How Securitize’s IPO may accelerate partnerships with major institutions (08:48) - Expanding internationally and building a stronger balance sheet (09:26) - Focus regions: U.S., Europe, Japan, Singapore, and the Middle East (10:13) - Lessons from the process: internal alignment and preparation (11:06) - Launching a tokenized fund with BNY and Grove’s $100M investment (12:23) - Why CLOs and yield-bearing assets are the next phase of tokenization (13:05) - How Grove integrates the tokenized CLO into its ecosystem (14:21) - The structure of the partnership between Securitize, BNY, and Grove (15:35) - Stable yields, risk management, and diversification opportunities (16:01) - Why 2025 could mark a tipping point for large-scale tokenization (16:50) - Industry outlook about competition, collaboration, and exponential growth (17:17) - Final thoughts: building credibility and tokenizing traditional financeYou can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On today’s Talking Tokens episode, Jacquelyn sits down with Joseph Chalom, CEO of SharpLink and former Head of Digital Assets at BlackRock.Joseph shares how he went from leading BlackRock’s digital asset strategy to running one of the first publicly listed digital asset treasuries on Nasdaq. He explains what inspired him to leave BlackRock after 20 years, how institutional demand for Bitcoin and Ethereum has evolved and what makes a good DAT.They dive deep into Ethereum’s role as the global settlement layer for finance, why tokenization is the next major market structure shift, and how SharpLink’s treasury model creates exposure to Ethereum, while actively managing yield through staking and DeFi.Joseph also discusses regulation, market cycles, tokenized equities, and the growing interest from Asia-based institutions.Timestamps(00:00) - Intro (01:06) - Life after 20 years at BlackRock & how his role at SharpLink began (02:47) - Building BlackRock’s digital asset division and early learnings (04:28) - Why institutional adoption took time: regulation & infrastructure gaps (05:53) - ETF demand, client-first strategy & product-market fit for crypto (07:55) - Who’s really driving today’s crypto markets: investors vs traders (09:11) - Why Bitcoin, Ethereum, and stablecoins dominate institutional portfolios (10:39) - Ethereum as the programmable settlement layer for global finance (12:19) - Stablecoins, tokenization & the trillion-dollar opportunity ahead (13:24) - Institutions entering DeFi and why the rails are shifting fast (14:09) - What Ethereum’s consistency, security & liquidity mean for investors (15:25) - Tokenization: which assets should actually move onchain (17:00) - How stablecoins threaten bank margins but benefit the U.S. economy (18:34) - Treasury management & the opportunity for onchain balance sheets (19:34) - SharpLink’s mission: institutional access to Ethereum exposure (21:12) - Turning ETH into a productive asset through staking and DeFi (23:03) - Building an institutional team with trust & long-term credibility (25:22) - Market cycles, ETH accumulation & thesis-driven treasury strategy (27:48) - Managing a Nasdaq-listed crypto company responsibly (30:12) - Lessons from BlackRock: transparency, controls & investor trust (32:58) - The rise of other digital asset treasuries & what sets SharpLink apart (35:03) - Global expansion: insights from Korea, Singapore & Hong Kong (38:15) - How Asia’s retail energy outpaces Europe’s institutional caution (41:10) - What he learned from 70+ investor meetings across four continents (43:03) - Why DeFi collaboration matters more than competition (45:09) - Final advice: play the long game, manage risk, and lead with integrityYou can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On today’s Talking Tokens episode, Jacquelyn sits down with Diogo Mónica, general partner at Haun Ventures, executive chairman and co-founder of Anchorage Digital, and chairman of the NEAR Foundation.Diogo shares how these roles intersect from managing billions in digital assets at Anchorage to backing early-stage founders at Haun Ventures and helping NEAR drive developer adoption.They discuss the next era of crypto use cases beyond trading, including stablecoins, tokenized equities, and “generative finance,” where AI creates tailored financial products in seconds.He explains how stablecoins reached global product-market fit in the Global South, why the Genius Act mattered, and how tokenization can reshape capital markets through onchain IPOs. Diogo also shares his view on regulation, crypto neobanks, and the intersection of AI and DeFi.Timestamps(00:00) - Intro (01:09) - Why crypto still searches for new product-market fit beyond trading (01:35) - Stablecoins as the most proven use case in crypto today (02:16) - Tokenization’s rise and Tether’s reported $500 billion valuation (03:24) - Global adoption: why stablecoins thrive in Argentina and the Global South (05:09) - Enterprise use cases: cross-border payments, remittances & treasury flows (05:52) - The Genius Act and why clarity laws must follow infrastructure first (07:05) - Onchain IPOs and tokenized equities as capital-market entry points (09:10) - Examples like Galaxy stock trading onchain & Robert Leshner’s Superstate (10:35) - Crypto neobanks & how self-custody speeds innovation (12:10) - Programmable dollars and why stablecoins let developers ship in minutes (13:19) - AI + DeFi = tailored financial products (15:17) - Why this model could democratize custom investing for everyone (16:46) - Regulatory impact & how to govern millions of AI-generated financial products (17:57) - Anchorage’s federal bank charter & the “permission not forgiveness” approach (19:02) - What founders should build next & why stablecoins lead the next cycle (20:03) - Closing thoughts: from tokenizing dollars to AI-driven financeEssentialsYou can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On this episode of Talking Tokens, host Jacquelyn Melinek sits down with Alexander Cutler, CEO of Dromos Labs and core contributor to Aerodrome, the largest decentralized exchange on Base. Alexander breaks down how Aerodrome launched with zero VC funding and no token sale, with a focus on rewarding users directly by reshaping DeFi incentives and becoming the number one DEX by volume and fees on Base. The episode explores why the team focused on value redistribution and public goods, the hurdles of building for open participation, their unique community launch mechanics, and what it takes to maintain dominance as Base and Coinbase’s on-chain ecosystem grows. Alexander offers insights on how the Aerodrome model contrasts with extractive DeFi projects, the long-term role of infrastructure, and what’s next for the protocol amid rapid ecosystem changes.Sponsored by Fireblocks, infrastructure for secure tokenized assets. Learn more at fireblocks.com.Timestamps(00:00) - Intro (01:02) - What tokenization really means and how it works in practice (02:16) - Inside FG Nexus and Securitize’s partnership to tokenize equity (03:54) - The significance of being a Nasdaq-listed firm with onchain shares (05:21) - What “natively tokenized” means vs wrapped or synthetic assets (07:11) - Why corporate participation matters for legitimacy and adoption (09:45) - How tokenization can expand liquidity, transparency, and access (11:17) - How Wall Street and major banks are now exploring stablecoins (12:46) - The path to adoption: regulation, revenue models, and marketplaces (14:32) - “Not all tokenization is created equal:” structural vs surface innovation (16:40) - Removing intermediaries: why smart contracts shift cost and trust (18:22) - The future of how AI and blockchain change corporate roles (20:59) - Why tokenized equities are the next evolution of capital markets (22:21) - Why FG Nexus chose Ethereum over other L1s (24:45) - Neutrality, decentralization, and Ethereum’s institutional alignment (26:09) - How FG Nexus fits into Ethereum’s ecosystem and future plans (27:46) - The Clarity Act and what it means for DeFi participation (29:57) - Challenges in tokenization: liquidity, interoperability & accounting gaps (31:48) - How blockchain will reshape corporate finance in 5–10 years (33:45) - “Rewriting Wall Street:” programmable finance for global markets (35:02) - The funniest and most interesting tokenization requests she’s received (36:57) - Closing thoughts: improving, not replacing, the existing financial systemSubscribe & FollowSubscribe on Spotify, Apple Podcasts, or YouTube. Support the show by leaving a review! Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcasts: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141 Twitter: Jacquelyn Melinek https://twitter.com/jacqmelinek | Podcast https://twitter.com/_TalkingTokens Instagram: https://www.instagram.com/_talkingtokens/Note: This podcast is for informational purposes only. Guests may have a financial interest in discussed entities or assets. Not investment advice.

Eddie Zhang, the President of dYdX Trading, has a fascinating background in product development at Meta and founding social trading startups. In this discussion, he dives into the integration of social trading with Telegram and how small group chats enhance trust and engagement among users. Eddie also explores the role of real-world assets in diversifying crypto portfolios, the mechanics behind tokenized stocks, and the challenges of building a user-friendly trading experience. His insights on market dynamics and consumer adoption in DeFi are particularly enlightening.

In this episode of Talking Tokens, host Jacquelyn Melinek sits down with Hong Kim, co-founder and CTO of Bitwise Asset Management, recorded live at Token2049 in Singapore. Hong shares his journey from an early interest in Ethereum and product development to building one of the first institutional crypto asset management firms. The conversation covers the evolution of crypto asset management from niche and speculative to a maturing industry gaining recognition among major institutions. Hong explains Bitwise’s product strategy focusing on ETFs, staking, and innovative yield strategies aimed at mainstream adoption. He sheds light on reaching global markets, evolving regulatory dynamics, and the vision for tokenized securities and on-chain asset management. Hong closes with timeless advice on maintaining perspective amidst crypto’s cycles and the profound growth still ahead.Sponsored by Fireblocks, the leading infrastructure for secure tokenized asset custody and settlements. Learn more at fireblocks.com.Timestamps(00:00) - Intro: Hong Kim at Token2049 Singapore (00:40) - Founding Bitwise in 2017 & spotting the early asset management gap (02:01) - How crypto evolved from “meme stock” to institutional asset class (03:13) - Why Bitcoin ETFs mirror gold’s adoption curve (05:11) - Building credibility & product-market fit in crypto asset management (06:32) - Inside Bitwise’s top-performing products: BTC, ETH & crypto equities (07:33) - Circle’s IPO & why stablecoins changed investor sentiment (09:06) - Global expansion & how Bitwise educates financial advisors (10:46) - Consistency through bear markets: why trust is built over time (11:52) - Hong’s perspective on Korea’s unique retail trading culture (13:50) - Stablecoins, regulation & Asia’s growing institutional appetite (15:25) - The future of tokenization & asset management onchain (17:21) - Bitwise’s staking, DeFi & yield strategies for institutions (20:01) - The SEC, tokenized equities & removing regulatory roadblocks (22:32) - What tokenized Wall Street could look like in 3 years (24:45) - Final advice from Hong KimYou can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokensFollow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On this episode of Talking Tokens, we’re sharing Jacquelyn Melinek's fireside chat from Korea Blockchain Week with Zak Folkman, co-founder of World Liberty Financial, a crypto project backed by members of the Trump family. Zak shares his journey from early Ethereum adoption to co-founding World Liberty Financial and launching the USD1 stablecoin and WLFI token. They discuss how USD1 wants to integrate transparency by adopting Chainlink’s real-time proof of reserves, set new compliance standards with KYC and AML, and build community governance unlike other stablecoins. Zak explains the company’s chain-agnostic approach and global expansion efforts, including partnerships in Asia, and previews upcoming products like their retail wallet and debit card integration. The episode explores how World Liberty Financial aims to bridge traditional finance with web3 in a compliant and user-friendly way while targeting mass adoption.This episode is sponsored by Fireblocks, the leading stablecoin infrastructure for global enterprises. Learn more at fireblocks.com.⏱️ Timestamps(00:00) - Intro (01:03) - Zak Folkman’s background and why he started World Liberty Financial (02:00) - Early crypto journey: Ethereum, smart contracts & law school inspiration (03:47) - The mission: merging crypto and traditional finance (04:45) - Highlights from Mar-a-Lago Twitter Spaces with President Trump (05:37) - Its ICO & the importance of KYC and AML compliance (06:54) - Why regulation and guardrails are essential for mass adoption (07:50) - USD1 becomes one of the fastest-growing stablecoins (08:49) - WLFI governance token and community participation (10:07) - Protecting holders during volatility: reserves & bankruptcy-remote backing (12:55) - Proof of reserves with Chainlink and full transparency audits (14:58) - Upcoming partnerships, debit card & retail fintech app (17:45) - No plans for a WLFI chain (19:50) - Global expansion: growth across Asia, Korea & Singapore (22:02) - Governance rights, user voting & token holder influence (24:00) - Balancing regulation, security & decentralization (25:52) - Final thoughts: making USD1 the world’s most adopted stablecoin📢 Subscribe & Follow Subscribe on Spotify, Apple Podcasts, or YouTube. Support the show by leaving a review! Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141 Follow on X: Host Jacquelyn Melinek https://twitter.com/jacqmelinek | Podcast https://twitter.com/_TalkingTokens Instagram: https://www.instagram.com/_talkingtokens/Note: This podcast is for informational purposes only. Guests may have financial interests in discussed entities or assets. Not investment advice.

In this episode of Talking Tokens, Jacquelyn Melinek sits down with Mike Ho, Matt Prusak, and Donald Trump Jr. from American Bitcoin. They discuss Bitcoin as the ultimate scarce asset and compare it to gold, underlining Bitcoin’s fixed supply and growing institutional adoption. The team shares their business model behind American Bitcoin, blending mining and treasury operations to maximize Bitcoin accumulation and shareholder value. They explore how institutions are finally embracing Bitcoin amid evolving regulatory clarity and rising market maturity, including major moves in the US. Don Jr. reflects on Bitcoin’s power for financial democratization and global influence. The conversation dives into the future opportunities and long-term strategies for crypto adoption across global markets like South Korea, and how Bitcoin is poised for a financial revolution beyond simple investment.This episode is sponsored by Fireblocks, the leading stablecoin infrastructure for global enterprises. Learn more at fireblocks.com.⏱️ Timestamps (00:01) - Introduction and host welcome (01:39) - Bitcoin as the world’s one true scarce asset vs gold (04:15) - Ownership and dormant supply insights (05:50) - American Bitcoin’s business model: combining mining and treasury (08:10) - Tools to increase Bitcoin ownership per share (10:00) - Institutional adoption trends and current owners (12:10) - Bitcoin regulatory advances and US policy impact (14:00) - Introduction of Donald Trump Jr. joining remotely (15:40) - Bitcoin as a global borderless value transfer and prosperity tool (18:20) - Democratization of finance with Bitcoin and crypto (21:30) - Bitcoin diplomacy and influence globally (24:00) - Market differences: US, South Korea, and global opportunity (26:00) - Future strategies for Bitcoin and crypto adoption (28:20) - Closing reflections from all guests📢 Subscribe & Follow Subscribe on Spotify, Apple Podcasts, or YouTube. Support the show by leaving a review! Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141 Follow on X: Host Jacquelyn Melinek https://twitter.com/jacqmelinek | Podcast https://twitter.com/_TalkingTokens Instagram: https://www.instagram.com/_talkingtokens/Note: This podcast is for informational purposes only. Guests may have financial interests in discussed assets or companies. Not investment advice.