On The Brink with Castle Island

Matt and Nic are back for more deals and news. In this episode:  Nic's early Do Kwon experience Reflecting back on Terra/Luna  The SEC charges Richard Heart and HEX  Is the SEC's case against Richard Heart flimsy?  Does the SEC deserve praise for coming after HEX?  Kyle Davies thinks he's immune from prosecution because he gave up his US citizenship Who's behind the BALD rugpull?  Implications of the Curve hack  We look at Tether's asset portfolio  Kenya suspends Worldcoin operations in the country Is there an account firm choke point?  Ethereum future ETFs are filed Judge Rakoff dissents from the Torres doctrine  Content mentioned:  CIV white paper on Cryptodollars Sponsor notes:  STATE OF THE NETWORK: Decoding the Digital Dollar — Unraveling the Risks of Stablecoins In our new special insights report, CM lays out the key fragilities of stablecoins and how on-chain and market data can help monitor these risks for the future of digital dollars to materialize

Matt and Nic are back with another week of news and deals. In this episode:  Nic's issues editing the show Why Washington is attacking PoR  Why Big 4 audit firms aren't working on PoR  The Financial Innovation and Technology in the 21st Century bill (FIT) passes out of committee in the House  Six Democrats defect and support the bill The Stablecoin bill reaches an impasse because the White House  Why stablecoins being limited to the banks is a paradox  The SEC settles with Quantstamp SBF gets a gag order because he released Caroline Ellison's diaries  SBF did actually pay for his legal defense with stolen FTX customer money  The UK gets embroiled in a banking scandal due to Nigel Farage  We digest the room temperature ambient pressure superconductor news  Nic's pickleball injury   Content mentioned:  Nic in Fortune, The crypto industry is embracing self regulation. It’s time Washington gets on board   Kathleen Breitman in Fortune, Ben McKenzie needs a hug: The ‘OC’ star’s crypto book is an ill-infor

In this episode, we hosted Richard Meissner, CTO of Safe, to illuminate the state of adoption of smart contract wallets following the roll out of ERC-4337 (an effort to standardize account abstraction on Ethereum). Our conversation covers: The limitations of smart contract wallets in a multi-chain universe Account recovery and hybrid custody using traditional institutions Combining account abstraction with intents and AI Worldcoin's use of Safes and adoption of smart contract accounts Find additional content by Safe on account abstraction here.

Matt and Nic are back with more deals and news. In this episode:  Was XRP discovered or created? The saga of Otter 841 Matt’s wildlife trouble More SAB121 chaos Rep Ritchie Torres sends Gensler a tough letter What is the Torres Doctrine? Terraform labs has a new CEO Our theories for why Nasdaq pulled the plug on their crypto custody business The IRS is auditing the crypto rich in PR We bring back our triple threat segment Content mentioned Matt’s thread on SAB121 Bloomberg’s profile on Customers Bank We enjoyed the Fidelity Digital Assets Q2 Signals Report. BitMEX Research had a thoughtful article about Gary Gensler's CFTC days Kathleen Breitman in Fortune, Ben McKenzie needs a Hug Sponsor notes: Coin Metrics’ State of the Network: Currents Shift After SEC v. Ripple Summary Judgment In this issue of State of the Network, we provide a data-driven overview of digital asset markets after a milestone ruling in SEC v. Ripple case

Matt and Nic are back with a huge week in the markets. In this episode:  Ripple gets a key win in their summary judgment versus the SEC Implications for XRP holders Implications for exchanges and other tokens Prometheum’s denials about their ties to the CCP don’t hold water How Prometheum is a Potemkin platform Alex Machinsky has been arrested Arkham’s tokensale and doxing snafu The Lummis Gillebrand bill gets a facelift and incorporates PoR The prospects for the Lummis Gillebrand bill Updates on the piping plovers Why Threads isn’t going to make it Sponsor notes:  Coin Metrics’ State of the Network: Spot On - From Trusts to Spot ETFs In this issue of State of the Network, we dive deeper into Grayscale’s trusts and discuss the evolution of the digital assets investment landscape with the anticipated arrival of spot ETF’s  

Amir Haleem, the founder of Nova Labs (formerly named Helium, Inc) joins the show. In this episode we discuss: The origin of Helium and the Helium network Amir’s views on L1 blockchains and the path that the company took in evaluating building its own chain versus building on an existing L1. Decentralized Physical Infrastructure (DEPIN) and Decentralized Wireless (DEWI) as emerging categories demonstrating real-world applicability of public blockchains. The various tokens in the Helium ecosystem and how they interact. MVNOs and how Helium Mobile is positioned. The regulatory landscape in the United States and how Helium has navigated these waters. To learn more about Helium visit: helium.com/

Matt and Nic are back for more deals and news. In this episode:  Matt’s plover rivalry Matt’s struggles against animals Taylor Swift actually did sign that partnership with FTX Are Eras tour tickets securities? Lightning in emerging markets Could we build the SR-71 today? How Ripple was 90% right about XRP being the bridge currency for remittances ETF applications hiccup More SAB121 issues Matt’s cigar snafu Why ETF seeding will be a source of buy pressure Sponsor notes:  Coin Metrics’ State of the Network: Q2 2023 Wrap-Up In this issue of State of the Network, we provide a data-driven overview of the events that shaped digital asset ecosystem in Q2, 2023

Jose Lemus, CEO and cofounder at IBEX Mercado, joins the show to talk Lightning and its growing usage in emerging markets. In this episode: The origins of IBEX How IBEX clients are using LN in emerging markets How Lightning as a settlement layer for cross-border interbank payments Lightning as a bridge currency Why stablecoins make sense on Lightning Why EM firms have an affinity for Lightning IBEX’s partnership with Grupo Salinas and how they are introducing Lightning to Mexican households Lightning as an emerging remittance tool Why Mexico is a good fight for Lightning adoption Is Jose satisfied with Lightning’s maturity as a protocol How Bitcoin’s market cap is the ultimate bandwidth for Lightning Why Lightning reimagines the established batched payments model Jose’s answer to the biggest critique of Lightning at present Further reading:  Learn more about IBEX IBEX’s partnership with Salinas Group

Matt and Nic return for another week of news and deals. In this episode:  The problem with SEC SAB 121 Pickleball is driving up American healthcare costs Microstrategy buys some more Bitcoin Fidelity refiles their Wise Origin Bitcoin ETF Why the Prime Trust insolvency is so bad Will there be Prime Trust clawbacks? The SEC is slacking with their document retention policies How stablecoins are mirroring the development of eurodollars How Prometheum’s listing strategy might pose a risk to certain cryptoassets The UK law commission determines that digital assets are a new kind of “thing” Content mentioned in this episode: SEC Staff Bulletin 121 Odd Lots, Josh Younger on the Surprising Origins of Eurodollars and Petrodollars Laura Shin Podcast, Paradigm debates Prometheum The UK Law Commission: Final Report on Digital Assets Sponsor notes:  Coin Metrics’ State of the Network: Bitcoin & the Rest  In this issue of State of the Network, we assess Bitcoin’s resurgence and gauge market sentiment amidst a r

Matt and Nic are back for another week of news and deals. In this episode:  Bitcoin hits 30k Wyoming’s stable token developments The story behind FTX’s mammoth $500m outflow to K5 global Why was SBF spending hundreds of millions cozying up to talent agents? Do Kwon will spend 4 months in jail in Montenegro The Bitgo Prime Trust acquisition falls apart Deutche Bank applies for a crypto license in Germany EDX officially launches Blackrock files for their ETF and others follow Our theory for why Blackrock is filing now Is the SEC back-channeling to Blackrock? Was surveillance sharing really a blocker for other ETF applications? Does the notion of spot market surveillance even make sense for a global commodity? What’s the deal with the Bitcoin bathhouse in Brooklyn? Sponsor notes:  Coin Metrics STATE OF THE NETWORK - The Signal & the Nonce, Re-imagined In this issue of State of the Network, we showcase a novel analysis that sheds light on Bitcoins energy consumption, efficiency and e-waste

Wyoming state senator and Minority Floor Leader in the Wyoming Senate, Chris Rothfuss joins the show. We cover Wyoming’s crypto efforts to date to create a stable and secure digital asset ecosystem. In this episode: Senator’s Rothfuss’ pre-politics career and how he came to grapple with the crypto space Why Wyoming has an opportunity in digital asset policy The origins of Wyoming’s blockchain select committee How the NY Bitlicense inspired Wyoming’s efforts Why crypto policy isn’t politically polarized in Wyoming Wyoming’s foundational move to recognize digital assets under the uniform commercial code The origin of the SPDI charter Is there a future for the SPDI given that the Fed is denying master accounts? How Wyoming’s SPDI emerged as a consequence of Chokepoint 1.0 Is the Fed blocking state charters unconstitutional? Wyoming’s Stable Token Act and the prospects for that product How the WY Stable Token could be a huge windfall for Wyoming – and where the revenues would be directed How Wyoming is thinking

Matt and Nic are back for another week of news and deals. In this episode:  Coin Metrics derives new estimates of Bitcoin’s electricity consumption Nic reviews his Lasik experience  Matt takes Prometheum to task Is Prometheum a patsy for the SEC? Why is vaporware being elevated by the SEC and major exchanges being stymied? We digest the Hinman emails and what they mean for ETH and XRP What do the Hinman emails mean for the SEC’s The SEC attempts to make DeFi protocols register as exchanges Blackrock is about to file a renewed application for a Bitcoin ETF Reps Davidson and Emmer’s SEC Stabilization Act Hong Kong is pressuring banks to service crypto firms Coindesk gets their hands on the NYAG’s Tether reports Abra is in trouble Sponsor notes:  Coin Metrics STATE OF THE NETWORK - The Signal & the Nonce, Re-imagined In this issue of State of the Network, we showcase a novel analysis that sheds light on Bitcoins energy consumption, efficiency and e-waste

Matt and Nic return for another week of deals and news. In this episode: Token disclosure practices Matt tries pickleball Sequoia is breaking up into parts Will Chinese and American capital markets be severed? What’s in the proposed House market structure bill? Coinbase sues Coinbase and Binance How does the SEC think BUSD is a security? The SEC approves Prometheum as a crypto broker dealer Prometheum’s CCP ties Did Gensler solicit Binance to advice them before he ran the SEC? What’s going on with Prime Trust? Content mentioned: Tommy Tuberville in the WSJ, Crypto communism has a new meaning Sponsor notes:  Coin Metrics STATE OF THE NETWORK - Token Unlocks & Free Float Supply Shocks in Digital Asset Markets  In this issue of Coin Metrics’ State of the Network, we analyze the impact of token unlocks and free float supply shocks through the lens of various unlock events to explore the behavior of participants under different market conditions

In this episode, we sat down with Lili Infante, Founder and CEO of CAT Labs. Lili shared: Her experience spearheading the formation of the crypto taskforce at the DOJ How the crypto-enabled crime landscape has evolved and become more sophisticated Investigating cases where crypto is used and the unique challenges in establishing a chain of custody Products CAT Labs is building to more effectively recover digital assets and protect against situations where assets are compromised in the first place Learn more about Cat Labs in Fortune and on their website.

Matt and Nic are back for another week of news and deals. In this episode:  The debt ceiling debate is resolved What happened to Paxos’ / Paypal’s stablecoin? Offshore dollar stablecoins are growing while onshore stablecoins are shrinking Stablecoin policy in the US is backfiring USD stables issued out of Hong Kong Tether reaches a new all time high The bad boys are back SBF’s defense will reportedly claim he got bad advice from Fenwick Farenheit wins the bid for the Celcius assets Why Celcius’ mining operation was a big red flag What does CZ mean by 4? Sponsor notes:  Coin Metrics STATE OF THE NETWORK - Zooming Out: A datonomy update In this issue of Coin Metrics’ State of the Network, we leverage datonomy—a classification system for digital assets to zoom out and gauge the ecosystem and its underlying trends from a broader lens. Despite a slew of challenges over years, we explore how the market has shown resilience through an analysis of market returns, volatility and volumes across sectors.

Matt and Nic return for another week of news and deals. In this episode:  Validators sign up to stake ETH post merge Will there be MEV on Bitcoin?  What's the deal with Worldcoin?  Is the wash sale tax loophole stalling the debt ceiling negotiations?  Have ordinals changed Bitcoin culture?  The Fed releases new data on crypto adoption in the U.S.  Paradigm adds AI to their mandate  Whip Tom Emmer and Rep Darren Soto introduce the Securities Clarity Act The NYT reports that prosecutors have a mountain of evidence against SBF Greenidge is vindicated regarding activist claims  Ripple vs the SEC Content mentioned:  The Federal Reserve, Economic Well-Being of U.S. Households in 2022 Coindesk, The Bitcoin Mining Debate Is Ignoring the People Most Affected Sponsor notes:  Coin Metrics STATE OF THE NETWORK - A Claim in the Ether: Tracking the Soaring Demand for Ethereum Staking In this week’s issue of State of the Network, we examine essential data and metrics highlighting the current state of the Ethereum st

Nic and Matt return for another week of news and deals. In this episode:  Nic and Matt reminisce on the Bitcoin Miami conference Ripple wins a key victory over the SEC in the Hinman test Texas passes a proof of reserve bill The SEC alleges that Filecoin is a security  What's the deal with Worldcoin?  How biometrics and blockchain can help with AI  Regulating AI Tether is buying Bitcoin John Ray is trying to claw back more funds Is Michael Lewis an innocent bystander in the FTX situation? Sponsor notes:  Coin Metrics STATE OF THE NETWORK - Market Liquidity Review The current market environment for digital assets is characterized by complexity, owing to the presence of regulatory uncertainty, an onslaught of exogenous macro events, and continued shifts in the preferred exchange venues among traders. In this edition of State of the Network, the Coin Metrics team zooms in on essential trading volume & market data trends to contextualize the current crypto market environment.

Chris Ellis, Head of Strategic Initiatives at FactSet and Tim Rice, founder of Coin Metrics join the show. In this episode we discuss: The partnership between FactSet and Coin Metrics how the companies are jointly going to market. How FactSet thinks about partnerships and how digital assets has evolved as an area of focus at the company. The features and functionality that FactSet users are asking for as it relates to crypto/digital asset data. The future of asset tokenization and the regulatory landscape in the United States. On-chain data and how Coin Metrics sees this category evolving. To learn more about the FactSet/Coin Metrics partnership visit: https://investor.factset.com/news-releases/news-release-details/factset-and-coin-metrics-collaborate-deliver-digital-assets-data To learn more about Coin Metrics visit www.coinmetrics.io  

Matt and Nic return for another week of news and deals. In this episode:  BRC20 PEPE versus ERC20 PEPE Is PEPE an alt right coin? What’s driving up fees on Bitcoin? The relationship between HEX, XEN, and VPMX Bitcoin’s circular firing squad The upside of high fees in Bitcoin Why the White House’s DAME mining tax is counterproductive What is the $18b tax loophole the Biden admin thinks crypto investors are taking advantage of? What’s the deal with blue checks? The difficulty of bootstrapping new social networks Bittrex is filing for bankruptcy in the US The Democratic messaging on the crypto hearing The US chamber of Congress files an amicus brief in the Coinbase v SEC case Texas passes a bill to support flare gas mining The Wyoming Stable Token gets closer to becoming a reality The US Chamber of Commerce amicus brief in the Coinbase v SEC case Can the US government afford these interest rates?  Matt and Nic solve the debt crisis Content mentioned in this episode: Reuters, Cryptoverse: Digital coins lure

Steven Walbroehl, the co-founder and CTO of Halborn joins the show. In this episode we discuss: Steven’s crypto origin story and how he began tinkering with public blockchains. How Halborn’s work differs across traditional financial services customers versus decentralized organization customers. Basic recommendations for companies entering the public blockchain ecosystem. Halborn’s recent discovery of a zero-day exploit impacting 280 public blockchains. Views on market manipulation and game theory exploits. Halborn’s Seraph digital notary product and how it is keeping DeFi protocols safe. To learn more about Halborn visit www.halborn.com