Will the SEC & CFTC steady crypto industry after the Clarity Act impasse?

1
00:00:06,170 --> 00:00:07,749
Welcome back to The Starting Block.

2
00:00:07,750 --> 00:00:09,249
Happy Monday to you wherever you are

3
00:00:09,250 --> 00:00:10,109
joining us today.

4
00:00:10,110 --> 00:00:12,289
We are back doing the show remotely

5
00:00:12,290 --> 00:00:14,009
after a couple of weeks in New York

6
00:00:14,010 --> 00:00:15,829
City. If you weren't there, we were

7
00:00:15,830 --> 00:00:17,709
at Avalanche Summit and we had a

8
00:00:17,710 --> 00:00:19,129
fantastic time.

9
00:00:19,130 --> 00:00:21,029
Two days of broadcasting with the

10
00:00:21,030 --> 00:00:23,109
Avalanche Labs team at

11
00:00:23,110 --> 00:00:25,129
the summit there in New york city.

12
00:00:25,130 --> 00:00:26,969
We had a handful of

13
00:00:26,970 --> 00:00:29,029
really great guests, including none

14
00:00:29,030 --> 00:00:30,909
other than Mr. Wonderful

15
00:00:30,910 --> 00:00:32,569
himself. If you missed some of those

16
00:00:32,570 --> 00:00:34,469
interviews, you can find them

17
00:00:34,470 --> 00:00:35,859
on our YouTube channel.

18
00:00:35,860 --> 00:00:37,559
Just click on the live tab and you

19
00:00:37,560 --> 00:00:39,379
can go back and watch both of our

20
00:00:39,380 --> 00:00:41,259
broadcasts with

21
00:00:41,260 --> 00:00:43,079
all of those speakers that we had

22
00:00:43,080 --> 00:00:44,899
in In

23
00:00:44,900 --> 00:00:46,419
New York City last week.

24
00:00:46,420 --> 00:00:48,459
And yeah, just to highlight those.

25
00:00:48,460 --> 00:00:50,699
Yeah, mr. Wonderful himself and

26
00:00:50,700 --> 00:00:52,339
who's who Hunter Horsley?

27
00:00:52,340 --> 00:00:54,259
We had Zach handle from a

28
00:00:54,260 --> 00:00:56,159
grayscale Stanley Kulikov from

29
00:00:56,160 --> 00:00:58,379
Ave and many many other

30
00:00:58,380 --> 00:01:00,099
great names Caroline Pham former

31
00:01:00,100 --> 00:01:01,959
CFTC chair

32
00:01:01,960 --> 00:01:03,829
or acting chair And Chris

33
00:01:03,830 --> 00:01:05,689
Giancarlo, who was also a

34
00:01:05,690 --> 00:01:07,609
CFT chair a few years ago, really,

35
00:01:07,610 --> 00:01:08,869
really great conversations all

36
00:01:08,870 --> 00:01:10,929
centered around policy and

37
00:01:10,930 --> 00:01:12,789
reactions to the Clarity

38
00:01:12,790 --> 00:01:14,829
Act impasse that happened last week,

39
00:01:14,830 --> 00:01:16,649
Tuesday. So it was very timely to be

40
00:01:16,650 --> 00:01:18,509
sitting down with many people in the

41
00:01:18,510 --> 00:01:20,329
know in the United States to

42
00:01:20,330 --> 00:01:22,169
talk about that less than 24 hours

43
00:01:22,170 --> 00:01:23,409
after that news had broke.

44
00:01:23,410 --> 00:01:25,089
We are gonna be keeping on with that

45
00:01:25,090 --> 00:01:25,909
conversation today.

46
00:01:25,910 --> 00:01:28,009
We've got John Modell from Injective

47
00:01:28,010 --> 00:01:29,909
Labs joining us in the hot seat

48
00:01:29,910 --> 00:01:31,809
in a few minutes time to talk to us.

49
00:01:31,810 --> 00:01:32,889
About the Clarity Act.

50
00:01:32,890 --> 00:01:34,489
But of course, before we do that,

51
00:01:34,490 --> 00:01:36,069
we're gonna get into the Block

52
00:01:36,070 --> 00:01:38,349
Briefing, which is our news update

53
00:01:38,350 --> 00:01:40,329
of the top stories you need to know

54
00:01:40,330 --> 00:01:42,169
in the last 24 hours curated

55
00:01:42,170 --> 00:01:44,049
from the Block's news

56
00:01:44,050 --> 00:01:45,929
team. And let's jump straight into

57
00:01:45,930 --> 00:01:47,829
it. It's looking very green

58
00:01:47,830 --> 00:01:49,709
above my head on the livestream

59
00:01:49,710 --> 00:01:50,549
today.

60
00:01:50,550 --> 00:01:53,629
Bitcoin just tapped $85,000,

61
00:01:53,630 --> 00:01:55,469
its first visit to that level since

62
00:01:55,470 --> 00:01:57,469
January as the rally

63
00:01:57,470 --> 00:01:58,849
rolls on.

64
00:01:58,850 --> 00:02:00,349
BTC briefly popped.

65
00:02:00,350 --> 00:02:02,309
Above 85 before easing back near

66
00:02:02,310 --> 00:02:04,289
84, 2000, up

67
00:02:04,290 --> 00:02:06,469
more than 5% on the day with Asian

68
00:02:06,470 --> 00:02:07,929
and European stocks climbing

69
00:02:07,930 --> 00:02:08,909
alongside it.

70
00:02:08,910 --> 00:02:10,448
That's a sharp comeback from around

71
00:02:10,449 --> 00:02:12,629
$75,000 less

72
00:02:12,630 --> 00:02:14,229
than a week ago.

73
00:02:14,230 --> 00:02:16,189
The move torched the shorts of

74
00:02:16,190 --> 00:02:19,189
more than $750 million

75
00:02:19,190 --> 00:02:21,029
in crypto liquidated over 24

76
00:02:21,030 --> 00:02:22,969
hours. Some 648

77
00:02:22,970 --> 00:02:25,189
million were short positions.

78
00:02:25,190 --> 00:02:27,129
Ether, XRP and Solana

79
00:02:27,130 --> 00:02:28,569
all rode higher too.

80
00:02:28,570 --> 00:02:29,389
So we're definitely going to be

81
00:02:29,390 --> 00:02:30,319
watching the markets.

82
00:02:30,320 --> 00:02:31,399
Throughout the day today, it should

83
00:02:31,400 --> 00:02:33,379
be very, very interesting if

84
00:02:33,380 --> 00:02:34,999
you are a trader.

85
00:02:35,000 --> 00:02:36,999
We will be chatting markets later

86
00:02:37,000 --> 00:02:38,379
this week with a few different

87
00:02:38,380 --> 00:02:39,879
guests coming on the show.

88
00:02:39,880 --> 00:02:40,959
So make sure you set your reminders

89
00:02:40,960 --> 00:02:42,999
to join us at 8.30 on

90
00:02:43,000 --> 00:02:44,879
Tuesday and Wednesday.

91
00:02:44,880 --> 00:02:46,359
Then our next headline, Washington

92
00:02:46,360 --> 00:02:48,359
Isn't Waiting for Congress.

93
00:02:48,360 --> 00:02:50,279
The CFTC has set its

94
00:02:50,280 --> 00:02:52,139
crypto rule book covering crypto

95
00:02:52,140 --> 00:02:54,679
asset transactions and

96
00:02:54,680 --> 00:02:56,579
markets to the White House's

97
00:02:56,580 --> 00:02:58,469
Regulatory Review Office.

98
00:02:58,470 --> 00:03:00,329
It's the agency pressing ahead

99
00:03:00,330 --> 00:03:02,409
on its own after the Clarity Act,

100
00:03:02,410 --> 00:03:04,469
the big federal crypto bill died in

101
00:03:04,470 --> 00:03:06,409
a Senate procedural vote last

102
00:03:06,410 --> 00:03:08,409
Tuesday with some Democrats citing

103
00:03:08,410 --> 00:03:10,329
ethics concerns tied to

104
00:03:10,330 --> 00:03:12,049
President Trump's crypto holdings.

105
00:03:12,050 --> 00:03:14,089
The same day the SEC rolled out its

106
00:03:14,090 --> 00:03:15,789
innovation exemption to allow

107
00:03:15,790 --> 00:03:17,769
on-chain trading of tokenized stocks

108
00:03:17,770 --> 00:03:19,709
and the CFTC gave software

109
00:03:19,710 --> 00:03:21,609
developers a no action

110
00:03:21,610 --> 00:03:24,969
cushion on broker registration.

111
00:03:24,970 --> 00:03:26,289
Then our next headline, Wall Street

112
00:03:26,290 --> 00:03:27,889
Journal investigation after this

113
00:03:27,890 --> 00:03:29,919
weekend. Says Polymarket fended

114
00:03:29,920 --> 00:03:31,779
off and attempted $10

115
00:03:31,780 --> 00:03:34,099
million fraud earlier this year,

116
00:03:34,100 --> 00:03:35,979
and that CEO Shane Copland

117
00:03:35,980 --> 00:03:38,099
told staff to chase growth and

118
00:03:38,100 --> 00:03:39,919
worry about compliance later.

119
00:03:39,920 --> 00:03:41,259
Starting in February, fraudsters

120
00:03:41,260 --> 00:03:43,019
used stolen debit cards to fund

121
00:03:43,020 --> 00:03:44,979
accounts, place bets, then

122
00:03:44,980 --> 00:03:46,939
cash out to clean cards.

123
00:03:46,940 --> 00:03:48,799
At one point, payment process at

124
00:03:48,800 --> 00:03:50,639
checkout.com flagged more

125
00:03:50,640 --> 00:03:52,559
than 80% of you Polymarket

126
00:03:52,560 --> 00:03:54,759
US deposits as fraudulent

127
00:03:54,760 --> 00:03:56,579
against an industry norm

128
00:03:56,580 --> 00:03:57,729
near 1%.

129
00:03:57,730 --> 00:03:59,649
Polymarket says its market integrity

130
00:03:59,650 --> 00:04:01,329
framework detects and responds to

131
00:04:01,330 --> 00:04:03,269
suspicious activity and points

132
00:04:03,270 --> 00:04:05,169
to cooperation with

133
00:04:05,170 --> 00:04:06,809
regulators. I haven't reached out to

134
00:04:06,810 --> 00:04:08,629
Polymarket myself on this

135
00:04:08,630 --> 00:04:10,489
story, so just keep an

136
00:04:10,490 --> 00:04:12,269
eye out on the block's platforms for

137
00:04:12,270 --> 00:04:14,109
more information on that story,

138
00:04:14,110 --> 00:04:15,709
as this is one we've picked up from

139
00:04:15,710 --> 00:04:17,749
big publications covering,

140
00:04:17,750 --> 00:04:19,469
namely the Wall Street Journal.

141
00:04:19,470 --> 00:04:20,609
Moving on to our next headline,

142
00:04:20,610 --> 00:04:22,709
Visa's Closing a Meme Coid Rewards

143
00:04:22,710 --> 00:04:24,549
Loophole and it traces back to

144
00:04:24,550 --> 00:04:26,079
a block investigation.

145
00:04:26,080 --> 00:04:27,659
According to the newsletter, Crypto

146
00:04:27,660 --> 00:04:29,639
in America, Visa is telling

147
00:04:29,640 --> 00:04:31,479
processes to stop filing meme coin

148
00:04:31,480 --> 00:04:33,439
purchases under a digital media

149
00:04:33,440 --> 00:04:35,399
category that let buyers earn

150
00:04:35,400 --> 00:04:37,099
ordinary credit card points and cash

151
00:04:37,100 --> 00:04:38,799
back. That follows the block's

152
00:04:38,800 --> 00:04:40,439
September 1st investigation into

153
00:04:40,440 --> 00:04:42,139
Crossment, the firm powering

154
00:04:42,140 --> 00:04:43,619
checkout for FOMO and Robinhood

155
00:04:43,620 --> 00:04:45,519
Wallet and its process at

156
00:04:45,520 --> 00:04:46,659
checkout.com.

157
00:04:46,660 --> 00:04:48,759
The purchases were coded as digital

158
00:04:48,760 --> 00:04:50,599
media, missing the flags that mark

159
00:04:50,600 --> 00:04:52,159
crypto transactions.

160
00:04:52,160 --> 00:04:53,659
Processes reportedly have a grace

161
00:04:53,660 --> 00:04:55,479
period ending next

162
00:04:55,480 --> 00:04:57,559
week. And this is a big story.

163
00:04:57,560 --> 00:04:59,839
And one that I was keenly

164
00:04:59,840 --> 00:05:01,339
interested in and had conversations

165
00:05:01,340 --> 00:05:03,439
with the guilty parties.

166
00:05:03,440 --> 00:05:05,579
X, the platform that Elon Musk's

167
00:05:05,580 --> 00:05:07,899
XAI bought for $33 billion last

168
00:05:07,900 --> 00:05:09,739
year is suing two UK

169
00:05:09,740 --> 00:05:11,599
residents in London, alleging

170
00:05:11,600 --> 00:05:13,439
they gamed its creator revenue

171
00:05:13,440 --> 00:05:14,659
sharing program.

172
00:05:14,660 --> 00:05:16,479
The suit claims the pair ran a

173
00:05:16,480 --> 00:05:17,939
network of accounts that liked to

174
00:05:17,940 --> 00:05:19,759
repost it and replied to one another

175
00:05:19,760 --> 00:05:21,919
to fake engagement and inflate

176
00:05:21,920 --> 00:05:23,499
payouts with some crypto-focused

177
00:05:23,500 --> 00:05:25,579
posts landing just seconds

178
00:05:25,580 --> 00:05:27,629
apart. Ex-put its

179
00:05:27,630 --> 00:05:30,469
losses at roughly $277,000

180
00:05:30,470 --> 00:05:32,569
and is seeking another 100

181
00:05:32,570 --> 00:05:34,789
grand for investigation and cleanup.

182
00:05:34,790 --> 00:05:36,389
The accounts were suspended in

183
00:05:36,390 --> 00:05:38,089
August. For now, the allegations

184
00:05:38,090 --> 00:05:40,269
have not been tested in

185
00:05:40,270 --> 00:05:42,389
court. One of these individuals I

186
00:05:42,390 --> 00:05:43,409
had reached out to and had

187
00:05:43,410 --> 00:05:45,089
conversations with over the last

188
00:05:45,090 --> 00:05:46,969
couple of years and had previously

189
00:05:46,970 --> 00:05:49,269
said to him that I had taken

190
00:05:49,270 --> 00:05:51,169
umbrage with his

191
00:05:51,170 --> 00:05:53,189
use of content from my previous

192
00:05:53,190 --> 00:05:55,149
employer. And content that the

193
00:05:55,150 --> 00:05:56,969
block has been posting in recent

194
00:05:56,970 --> 00:05:58,409
months. Essentially these people

195
00:05:58,410 --> 00:06:00,329
were lifting content or downloading

196
00:06:00,330 --> 00:06:01,729
it and posting it as their own on

197
00:06:01,730 --> 00:06:03,209
their own platforms and then using

198
00:06:03,210 --> 00:06:05,589
their network of accounts that they

199
00:06:05,590 --> 00:06:07,589
own together to inflate

200
00:06:07,590 --> 00:06:09,529
and game X's

201
00:06:09,530 --> 00:06:10,909
payout system.

202
00:06:10,910 --> 00:06:12,609
So interesting story and one very

203
00:06:12,610 --> 00:06:14,749
much tied to the

204
00:06:14,750 --> 00:06:16,609
XKOL and crypto

205
00:06:16,610 --> 00:06:17,629
space.

206
00:06:17,630 --> 00:06:19,169
Our last headline of the day, Zeta

207
00:06:19,170 --> 00:06:20,909
Chain is pulling the plug on its own

208
00:06:20,910 --> 00:06:21,809
blockchain.

209
00:06:21,810 --> 00:06:24,009
Token holders voted Sunday

210
00:06:24,010 --> 00:06:25,969
99.4%

211
00:06:25,970 --> 00:06:27,909
in favor to shut down the layer one

212
00:06:27,910 --> 00:06:29,849
network and move the Zeta token

213
00:06:29,850 --> 00:06:30,869
to Solana.

214
00:06:30,870 --> 00:06:32,829
This is a project that raised $27

215
00:06:32,830 --> 00:06:34,709
million three years ago to

216
00:06:34,710 --> 00:06:36,249
connect competing chains.

217
00:06:36,250 --> 00:06:38,249
Now the teams say it no longer needs

218
00:06:38,250 --> 00:06:40,109
its own chain, pivoting instead

219
00:06:40,110 --> 00:06:41,949
to Anuma, its AI app

220
00:06:41,950 --> 00:06:43,949
on Solana, Zeta becomes a

221
00:06:43,950 --> 00:06:45,949
native Solana token one for one,

222
00:06:45,950 --> 00:06:47,529
keeping its ticker and total supply

223
00:06:47,530 --> 00:06:49,369
and the chain keeps running for

224
00:06:49,370 --> 00:06:51,329
now. While contributors work

225
00:06:51,330 --> 00:06:53,349
out the full conversation.

226
00:06:53,350 --> 00:06:54,569
And once again, all of those stories

227
00:06:54,570 --> 00:06:56,209
coming from the Blocks news team, if

228
00:06:56,210 --> 00:06:58,389
you're interested in reading some

229
00:06:58,390 --> 00:06:59,709
more of our headlines or our reports

230
00:06:59,710 --> 00:07:01,389
over the weekend and breaking news

231
00:07:01,390 --> 00:07:03,029
and reaction to Bitcoin going higher

232
00:07:03,030 --> 00:07:04,589
today, go and check out the Block's

233
00:07:04,590 --> 00:07:07,009
websites. That is theblock.co.

234
00:07:07,010 --> 00:07:08,949
And of course, give us a follow on X

235
00:07:08,950 --> 00:07:10,309
if you are joining us here for

236
00:07:10,310 --> 00:07:12,289
today's live stream, like and

237
00:07:12,290 --> 00:07:13,709
retweet the broadcast as well.

238
00:07:13,710 --> 00:07:15,449
As we continue with the show, we're

239
00:07:15,450 --> 00:07:17,769
gonna be moving on to the

240
00:07:17,770 --> 00:07:19,049
hot seat And it's a great pleasure

241
00:07:19,050 --> 00:07:20,089
to.

242
00:07:20,090 --> 00:07:22,049
Welcome John Modell to the show from

243
00:07:22,050 --> 00:07:23,629
Injective Labs.

244
00:07:23,630 --> 00:07:25,349
John, first things first, it's great

245
00:07:25,350 --> 00:07:26,309
to have you on the show.

246
00:07:26,310 --> 00:07:27,289
Unfortunately, we missed each other

247
00:07:27,290 --> 00:07:28,289
at New York. We were both at

248
00:07:28,290 --> 00:07:29,869
Avalanche Summit, but we're making

249
00:07:29,870 --> 00:07:30,809
up for it today.

250
00:07:30,810 --> 00:07:31,959
How are you?

251
00:07:31,960 --> 00:07:33,899
Very good, and thanks for having me,

252
00:07:33,900 --> 00:07:34,759
Garrett.

253
00:07:34,760 --> 00:07:37,279
It'll be a fun conversation last

254
00:07:37,280 --> 00:07:39,219
week and this week.

255
00:07:39,220 --> 00:07:40,379
Yeah, for sure.

256
00:07:40,380 --> 00:07:41,879
Let's dive straight into it.

257
00:07:41,880 --> 00:07:43,739
I mean, the news came out last

258
00:07:43,740 --> 00:07:45,579
week, Tuesday, obviously with the

259
00:07:45,580 --> 00:07:47,979
Clarity Act reaching an impasse

260
00:07:47,980 --> 00:07:50,019
on the Senate floor and

261
00:07:50,020 --> 00:07:51,999
essentially Senators not,

262
00:07:52,000 --> 00:07:53,999
or the Act not getting enough

263
00:07:54,000 --> 00:07:55,479
votes to pass through to the next

264
00:07:55,480 --> 00:07:56,799
stage.

265
00:07:56,800 --> 00:07:58,919
We chatted to many different people

266
00:07:58,920 --> 00:08:00,639
at Avalanche Summit last week.

267
00:08:00,640 --> 00:08:02,399
Most notably, Chris Giancarlo,

268
00:08:02,400 --> 00:08:05,179
former CFTC Chairman, and

269
00:08:05,180 --> 00:08:07,099
he was fairly,

270
00:08:07,100 --> 00:08:09,469
I would say, optimistic.

271
00:08:09,470 --> 00:08:11,469
That the CFTC and the

272
00:08:11,470 --> 00:08:13,429
SEC as the

273
00:08:13,430 --> 00:08:14,889
ruling agencies here would be able

274
00:08:14,890 --> 00:08:16,709
to pick up the slack and

275
00:08:16,710 --> 00:08:18,789
drive things forward despite

276
00:08:18,790 --> 00:08:20,629
politics getting in the way of the

277
00:08:20,630 --> 00:08:22,629
act on the Senate floor.

278
00:08:22,630 --> 00:08:24,589
Do you agree with that sentiment?

279
00:08:24,590 --> 00:08:26,649
I do indeed.

280
00:08:26,650 --> 00:08:28,489
We at Injective remain quite

281
00:08:28,490 --> 00:08:30,029
bullish, in fact.

282
00:08:30,030 --> 00:08:31,949
We as an American company want

283
00:08:31,950 --> 00:08:33,788
to build, continue to build here

284
00:08:33,789 --> 00:08:35,808
in the United States, and we

285
00:08:35,809 --> 00:08:38,469
really are optimistic

286
00:08:38,470 --> 00:08:40,449
by what we're seeing coming out of

287
00:08:40,450 --> 00:08:42,489
both agencies and others,

288
00:08:42,490 --> 00:08:43,389
frankly.

289
00:08:43,390 --> 00:08:45,689
And there really is a push to bring

290
00:08:45,690 --> 00:08:48,009
that type of regulatory framework

291
00:08:48,010 --> 00:08:50,029
that we were hoping

292
00:08:50,030 --> 00:08:51,969
to get from Congress.

293
00:08:51,970 --> 00:08:52,899
But.

294
00:08:52,900 --> 00:08:54,919
We're quite pleased that the

295
00:08:54,920 --> 00:08:56,879
agencies have not waited,

296
00:08:56,880 --> 00:08:58,639
have jumped right in and are being

297
00:08:58,640 --> 00:09:00,559
aggressive with quite a broad

298
00:09:00,560 --> 00:09:02,379
agenda to bring forth

299
00:09:02,380 --> 00:09:04,399
that type of regulatory regime

300
00:09:04,400 --> 00:09:07,459
that the industry really deserves.

301
00:09:07,460 --> 00:09:09,779
I mean, the very next day the SEC

302
00:09:09,780 --> 00:09:11,659
put out new rules,

303
00:09:11,660 --> 00:09:12,739
it does seem like they're moving

304
00:09:12,740 --> 00:09:15,659
very quickly and perhaps they

305
00:09:15,660 --> 00:09:18,299
themselves kind of anticipated that

306
00:09:18,300 --> 00:09:21,039
the Clarity Act wouldn't

307
00:09:21,040 --> 00:09:22,879
get enough votes in the procedural

308
00:09:22,880 --> 00:09:24,739
vote and they wanted to make

309
00:09:24,740 --> 00:09:26,379
it clear that despite that they're

310
00:09:26,380 --> 00:09:28,319
going to forge ahead and take this

311
00:09:28,320 --> 00:09:29,320
on themselves.

312
00:09:29,950 --> 00:09:31,929
Yeah, it's clear they wanna be

313
00:09:31,930 --> 00:09:34,389
aggressive. They wanna move quickly.

314
00:09:34,390 --> 00:09:36,269
But I don't think we've seen their

315
00:09:36,270 --> 00:09:38,289
entire menu in fact yet.

316
00:09:38,290 --> 00:09:40,329
We are quite optimistic

317
00:09:40,330 --> 00:09:42,409
that there's more to come.

318
00:09:42,410 --> 00:09:44,309
And we're looking forward

319
00:09:44,310 --> 00:09:46,349
as part of Injective

320
00:09:46,350 --> 00:09:48,369
being part of the industry push

321
00:09:48,370 --> 00:09:51,209
in this rulemaking process.

322
00:09:51,210 --> 00:09:53,189
Maybe it's not quite as glamorous or

323
00:09:53,190 --> 00:09:55,229
sexy as what goes on in

324
00:09:55,230 --> 00:09:57,189
Congress, but the details really do

325
00:09:57,190 --> 00:09:58,959
matter. And we look forward to

326
00:09:58,960 --> 00:10:00,959
having a voice in providing

327
00:10:00,960 --> 00:10:02,839
that type of regulatory

328
00:10:02,840 --> 00:10:04,739
framework to make

329
00:10:04,740 --> 00:10:06,719
sure that people are comfortable

330
00:10:06,720 --> 00:10:08,659
with continued development within

331
00:10:08,660 --> 00:10:10,029
this industry.

332
00:10:10,030 --> 00:10:11,949
I think most notably for me, the SEC

333
00:10:11,950 --> 00:10:13,109
rolling out the innovation

334
00:10:13,110 --> 00:10:15,429
exemption, which essentially will

335
00:10:15,430 --> 00:10:16,949
allow on-chain trading of tokenized

336
00:10:16,950 --> 00:10:18,269
stocks, is a big one, right?

337
00:10:18,270 --> 00:10:20,169
Because this is kind of part and

338
00:10:20,170 --> 00:10:22,069
parcel of what was sort of in

339
00:10:22,070 --> 00:10:24,949
the rulebook of the Clarity Act.

340
00:10:24,950 --> 00:10:26,629
They're giving everyone basically a

341
00:10:26,630 --> 00:10:27,909
green light to go ahead.

342
00:10:27,910 --> 00:10:29,809
So it's almost as if despite

343
00:10:29,810 --> 00:10:32,069
Clarity, nothing really changes.

344
00:10:32,070 --> 00:10:33,529
Maybe that's a bit of a layman's

345
00:10:33,530 --> 00:10:35,329
view, but perhaps you can unpack

346
00:10:35,330 --> 00:10:37,079
that one a little bit more for us.

347
00:10:37,080 --> 00:10:39,159
Yeah, I mean, obviously,

348
00:10:39,160 --> 00:10:40,979
we would all have liked to have

349
00:10:40,980 --> 00:10:43,499
the permanence that legislative

350
00:10:43,500 --> 00:10:45,639
solutions bring.

351
00:10:45,640 --> 00:10:47,819
That would be the market structure

352
00:10:47,820 --> 00:10:49,679
legislative piece that would have

353
00:10:49,680 --> 00:10:51,659
come out from Congress, right?

354
00:10:51,660 --> 00:10:54,039
But without that, we're still

355
00:10:54,040 --> 00:10:55,939
quite optimistic that

356
00:10:55,940 --> 00:10:57,839
the industry will get

357
00:10:57,840 --> 00:10:59,979
relief from the regulatory

358
00:10:59,980 --> 00:11:00,999
bodies.

359
00:11:01,000 --> 00:11:02,499
And you're right, the innovation

360
00:11:02,500 --> 00:11:04,539
exemption is one big piece of that

361
00:11:04,540 --> 00:11:06,459
because it really allows.

362
00:11:06,460 --> 00:11:08,479
People to continue to build in

363
00:11:08,480 --> 00:11:10,359
the direction that consumers

364
00:11:10,360 --> 00:11:12,559
and clients are looking for,

365
00:11:12,560 --> 00:11:14,379
but also continue

366
00:11:14,380 --> 00:11:16,219
to innovate, quite frankly, and

367
00:11:16,220 --> 00:11:18,519
create new products and new services

368
00:11:18,520 --> 00:11:20,199
that we haven't even thought about

369
00:11:20,200 --> 00:11:22,819
quite yet. So that's quite exciting.

370
00:11:22,820 --> 00:11:24,479
But there's also these nuts and

371
00:11:24,480 --> 00:11:26,199
bolts pieces.

372
00:11:26,200 --> 00:11:28,159
What I'm talking about is a proposal

373
00:11:28,160 --> 00:11:30,139
on transfer agent

374
00:11:30,140 --> 00:11:32,779
licensing being another

375
00:11:32,780 --> 00:11:34,819
proposal coming out

376
00:11:34,820 --> 00:11:36,449
of the SEC.

377
00:11:36,450 --> 00:11:38,789
Whether it be big ideas or

378
00:11:38,790 --> 00:11:40,349
simple, just getting the

379
00:11:40,350 --> 00:11:42,349
architecture right, we're

380
00:11:42,350 --> 00:11:44,249
seeing many, many moves from the

381
00:11:44,250 --> 00:11:45,610
agencies and we support that.

382
00:11:46,990 --> 00:11:48,029
John, can you talk a little bit

383
00:11:48,030 --> 00:11:49,509
about perhaps just the

384
00:11:49,510 --> 00:11:50,989
disappointment of politics getting

385
00:11:50,990 --> 00:11:52,109
in the way here?

386
00:11:52,110 --> 00:11:53,889
We had some great conversations over

387
00:11:53,890 --> 00:11:55,969
the last month with different

388
00:11:55,970 --> 00:11:57,249
people in the industry kind of

389
00:11:57,250 --> 00:11:59,589
unpacking what could happen.

390
00:11:59,590 --> 00:12:01,509
And there was an overarching theme

391
00:12:01,510 --> 00:12:03,369
that people on the left

392
00:12:03,370 --> 00:12:04,829
really just didn't want to give

393
00:12:04,830 --> 00:12:06,629
Donald Trump a win with the Clarity

394
00:12:06,630 --> 00:12:08,629
Act, even with the ethics

395
00:12:08,630 --> 00:12:10,549
provisions that were agreed to.

396
00:12:10,550 --> 00:12:12,649
And at the end of the day,

397
00:12:12,650 --> 00:12:14,469
partisan politics stepped in here

398
00:12:14,470 --> 00:12:16,109
and meant that clarity didn't get

399
00:12:16,110 --> 00:12:17,269
past them.

400
00:12:17,270 --> 00:12:18,649
Was it surprising to you that

401
00:12:18,650 --> 00:12:20,669
happened, or did you personally kind

402
00:12:20,670 --> 00:12:22,509
of anticipate that this might

403
00:12:22,510 --> 00:12:23,510
be the outcome?

404
00:12:24,710 --> 00:12:26,589
And is that necessarily a bad

405
00:12:26,590 --> 00:12:27,809
thing or a good thing? Do we have

406
00:12:27,810 --> 00:12:30,109
enough agency power to

407
00:12:30,110 --> 00:12:32,169
move past the politics at play and

408
00:12:32,170 --> 00:12:34,369
kind of at least just give our

409
00:12:34,370 --> 00:12:36,469
industry some continued

410
00:12:36,470 --> 00:12:38,549
stability to keep innovating and

411
00:12:38,550 --> 00:12:40,349
building in the United States?

412
00:12:40,350 --> 00:12:42,249
Look, nothing in Washington

413
00:12:42,250 --> 00:12:44,509
surprises me these days.

414
00:12:44,510 --> 00:12:46,629
You really kind of have to take it

415
00:12:46,630 --> 00:12:48,989
as whatever you can get.

416
00:12:48,990 --> 00:12:50,929
But what I will point out is a

417
00:12:50,930 --> 00:12:51,969
couple things.

418
00:12:51,970 --> 00:12:53,849
I don't think we're at that

419
00:12:53,850 --> 00:12:55,889
stage in time where we debate

420
00:12:55,890 --> 00:12:57,969
the permanence

421
00:12:57,970 --> 00:12:59,469
of this technology.

422
00:12:59,470 --> 00:13:01,609
We debate whether or not there's

423
00:13:01,610 --> 00:13:03,709
any utility to this technology,

424
00:13:03,710 --> 00:13:05,229
I think people accept the

425
00:13:05,230 --> 00:13:07,089
blockchain, people understand the

426
00:13:07,090 --> 00:13:09,009
importance of having digital

427
00:13:09,010 --> 00:13:09,799
assets.

428
00:13:09,800 --> 00:13:11,799
Being part of the evolution

429
00:13:11,800 --> 00:13:14,079
of finance and frankly our

430
00:13:14,080 --> 00:13:15,099
economies.

431
00:13:15,100 --> 00:13:17,219
I think that's no longer under

432
00:13:17,220 --> 00:13:18,259
debate.

433
00:13:18,260 --> 00:13:20,319
What really where we are is

434
00:13:20,320 --> 00:13:22,459
the past year has been about

435
00:13:22,460 --> 00:13:24,399
discussing and debating

436
00:13:24,400 --> 00:13:26,259
what that regulatory

437
00:13:26,260 --> 00:13:28,299
or legislative framework looks like

438
00:13:28,300 --> 00:13:30,239
and what we've seen over

439
00:13:30,240 --> 00:13:32,259
this negotiations is

440
00:13:32,260 --> 00:13:34,719
120 plus

441
00:13:34,720 --> 00:13:37,519
provisions that were agreed upon.

442
00:13:37,520 --> 00:13:39,699
An ethics framework that was

443
00:13:39,700 --> 00:13:41,499
unprecedented, in fact.

444
00:13:41,500 --> 00:13:43,599
So I think the foundation of

445
00:13:43,600 --> 00:13:45,919
future work is there.

446
00:13:45,920 --> 00:13:47,979
I'm really quite bullish that we

447
00:13:47,980 --> 00:13:49,839
will see a continuation

448
00:13:49,840 --> 00:13:51,359
of that process.

449
00:13:51,360 --> 00:13:53,339
And what I'm excited

450
00:13:53,340 --> 00:13:55,519
about is that a number

451
00:13:55,520 --> 00:13:57,519
of policymakers on both

452
00:13:57,520 --> 00:14:00,379
sides have that same agreement

453
00:14:00,380 --> 00:14:02,279
and their educational level

454
00:14:02,280 --> 00:14:04,159
has improved since when I

455
00:14:04,160 --> 00:14:05,719
entered this industry about five

456
00:14:05,720 --> 00:14:06,779
years ago.

457
00:14:06,780 --> 00:14:08,639
When we had to talk about what is

458
00:14:08,640 --> 00:14:10,519
a blockchain and what can

459
00:14:10,520 --> 00:14:12,399
we do to bring about the evolution

460
00:14:12,400 --> 00:14:13,419
of this technology.

461
00:14:13,420 --> 00:14:15,459
So we've moved well

462
00:14:15,460 --> 00:14:16,679
beyond that.

463
00:14:16,680 --> 00:14:18,519
I think it remains up to the

464
00:14:18,520 --> 00:14:19,359
industry though.

465
00:14:19,360 --> 00:14:21,599
We do need to change some

466
00:14:21,600 --> 00:14:23,219
of the ways that we continue to

467
00:14:23,220 --> 00:14:25,299
educate and advocate for our

468
00:14:25,300 --> 00:14:27,179
issues. I think that's clear

469
00:14:27,180 --> 00:14:29,259
from the experience of the past year

470
00:14:29,260 --> 00:14:31,179
and I

471
00:14:31,180 --> 00:14:32,959
can't say this enough, education

472
00:14:32,960 --> 00:14:34,899
remains the hallmark of the

473
00:14:34,900 --> 00:14:37,009
work that remains to be done.

474
00:14:37,010 --> 00:14:38,849
Especially in the decentralized

475
00:14:38,850 --> 00:14:40,909
or DeFi space, we really

476
00:14:40,910 --> 00:14:42,909
have to continue

477
00:14:42,910 --> 00:14:45,009
that process to help policymakers

478
00:14:45,010 --> 00:14:46,909
realize and

479
00:14:46,910 --> 00:14:48,949
understand what it means not to have

480
00:14:48,950 --> 00:14:50,969
intermediaries and what it mean

481
00:14:50,970 --> 00:14:53,389
to have to be able to trade or

482
00:14:53,390 --> 00:14:55,609
to conduct activities without

483
00:14:55,610 --> 00:14:57,049
having intermediaries.

484
00:14:57,050 --> 00:14:59,869
So that remains in front of us.

485
00:14:59,870 --> 00:15:01,529
John, can you talk to us, especially

486
00:15:01,530 --> 00:15:02,769
our audience out there that might

487
00:15:02,770 --> 00:15:04,809
not be too familiar with Injective,

488
00:15:04,810 --> 00:15:06,849
a quick TLDR on Injectiv and your

489
00:15:06,850 --> 00:15:08,949
personal work, what you're doing in

490
00:15:08,950 --> 00:15:10,969
DC and what this education

491
00:15:10,970 --> 00:15:12,029
piece looks like?

492
00:15:12,030 --> 00:15:13,349
Because I think a lot of people take

493
00:15:13,350 --> 00:15:14,669
it for granted, especially in our

494
00:15:14,670 --> 00:15:16,309
industry, that everyone knows what

495
00:15:16,310 --> 00:15:18,169
Bitcoin is, everyone knows how DeFi

496
00:15:18,170 --> 00:15:20,069
works, and that's simply

497
00:15:20,070 --> 00:15:21,349
not the case. And perhaps that's

498
00:15:21,350 --> 00:15:23,209
also part and parcel of why

499
00:15:23,210 --> 00:15:24,690
it's been so hard to get a lot

500
00:15:26,369 --> 00:15:28,709
regulatory clarity, excuse the pun,

501
00:15:28,710 --> 00:15:30,049
for the crypto industry.

502
00:15:30,050 --> 00:15:31,569
Indeed.

503
00:15:31,570 --> 00:15:33,709
Look, Injective is a

504
00:15:33,710 --> 00:15:35,130
layer one blockchain, a

505
00:15:35,131 --> 00:15:37,329
decentralized layer one blockchain.

506
00:15:37,330 --> 00:15:39,149
We're there to build, you

507
00:15:39,150 --> 00:15:41,109
know, the infrastructure of the 21st

508
00:15:41,110 --> 00:15:41,909
century.

509
00:15:41,910 --> 00:15:43,949
And we are looking to partner

510
00:15:43,950 --> 00:15:45,889
with both Fintech,

511
00:15:45,890 --> 00:15:47,949
TradFi, and others

512
00:15:47,950 --> 00:15:49,609
really, in building this

513
00:15:49,610 --> 00:15:51,029
infrastructure.

514
00:15:51,030 --> 00:15:52,849
Part of that challenge is being

515
00:15:52,850 --> 00:15:55,209
able to help policy

516
00:15:55,210 --> 00:15:57,519
makers, other stakeholders.

517
00:15:57,520 --> 00:15:59,579
Third-party participants within

518
00:15:59,580 --> 00:16:01,419
this space, understand what that

519
00:16:01,420 --> 00:16:03,639
all means, and help them understand

520
00:16:03,640 --> 00:16:06,499
both the technology,

521
00:16:06,500 --> 00:16:08,319
how it's evolving, how

522
00:16:08,320 --> 00:16:10,439
quickly it's evolving, and

523
00:16:10,440 --> 00:16:12,419
frankly also giving them a face

524
00:16:12,420 --> 00:16:14,339
of who are these people building

525
00:16:14,340 --> 00:16:16,279
this technology.

526
00:16:16,280 --> 00:16:17,859
You know, there's always these

527
00:16:17,860 --> 00:16:19,639
misconceptions about the industry

528
00:16:19,640 --> 00:16:21,739
and who we are, and so

529
00:16:21,740 --> 00:16:23,799
part of the challenge is really just

530
00:16:23,800 --> 00:16:25,719
helping them understand we're

531
00:16:25,720 --> 00:16:27,509
regular people trying to create

532
00:16:27,510 --> 00:16:29,349
solutions to make our

533
00:16:29,350 --> 00:16:31,209
lives better, and

534
00:16:31,210 --> 00:16:33,289
frankly also have a discussion

535
00:16:33,290 --> 00:16:35,289
about how do we mitigate some

536
00:16:35,290 --> 00:16:37,109
of the bad parts of any new

537
00:16:37,110 --> 00:16:38,709
emerging technology.

538
00:16:38,710 --> 00:16:40,549
So that's a

539
00:16:40,550 --> 00:16:43,109
challenge to try to help people,

540
00:16:43,110 --> 00:16:45,129
frankly, who are very busy,

541
00:16:45,130 --> 00:16:46,249
who have a number of different

542
00:16:46,250 --> 00:16:48,109
issues on their plate, understand

543
00:16:48,110 --> 00:16:50,149
all that, but we're

544
00:16:50,150 --> 00:16:51,549
happy to give it a try.

545
00:16:51,550 --> 00:16:52,989
And the great thing that we've found

546
00:16:52,990 --> 00:16:54,709
the past year, really.

547
00:16:54,710 --> 00:16:56,469
It's really been an industry-wide

548
00:16:56,470 --> 00:16:58,229
effort. So we at Injective have

549
00:16:58,230 --> 00:17:00,549
worked with everyone from Solana,

550
00:17:00,550 --> 00:17:02,489
from the Coinbases of the world and

551
00:17:02,490 --> 00:17:04,449
others, really to try to figure

552
00:17:04,450 --> 00:17:06,429
out how can we address

553
00:17:06,430 --> 00:17:08,429
some of these concerns and how

554
00:17:08,430 --> 00:17:10,509
can bring about the change

555
00:17:10,510 --> 00:17:12,348
that people want to see

556
00:17:12,349 --> 00:17:13,349
and deserve.

557
00:17:14,840 --> 00:17:16,559
Let's talk a little bit about the

558
00:17:16,560 --> 00:17:17,419
road ahead.

559
00:17:17,420 --> 00:17:19,479
Obviously, Congress had

560
00:17:19,480 --> 00:17:20,598
entered recess.

561
00:17:20,599 --> 00:17:21,838
There's gonna be a big focus on the

562
00:17:21,839 --> 00:17:23,719
midterms.

563
00:17:23,720 --> 00:17:25,338
As I understand it, and I'm not

564
00:17:25,339 --> 00:17:27,338
American, so please forgive

565
00:17:27,339 --> 00:17:29,159
my lack of understanding of all

566
00:17:29,160 --> 00:17:30,559
things when it comes to the

567
00:17:30,560 --> 00:17:32,399
political system in the United

568
00:17:32,400 --> 00:17:34,759
States, but the

569
00:17:34,760 --> 00:17:36,199
composition of the subsequent

570
00:17:36,200 --> 00:17:37,999
Congress might change after the

571
00:17:38,000 --> 00:17:39,929
mid-terms What does that actually

572
00:17:39,930 --> 00:17:41,889
mean for the future of the Clarity

573
00:17:41,890 --> 00:17:43,969
Act and what do you kind of

574
00:17:43,970 --> 00:17:45,309
anticipate going forward?

575
00:17:45,310 --> 00:17:47,229
Is this still a chance that it comes

576
00:17:47,230 --> 00:17:49,129
back on the table and we can

577
00:17:49,130 --> 00:17:50,399
make some progress?

578
00:17:50,400 --> 00:17:52,059
Well, first of all, I'll say you're

579
00:17:52,060 --> 00:17:53,399
probably lucky that you're missing

580
00:17:53,400 --> 00:17:55,119
all the political ads that are gonna

581
00:17:55,120 --> 00:17:57,019
be bombarding the airwaves

582
00:17:57,020 --> 00:17:59,399
over the course of the next 40,

583
00:17:59,400 --> 00:18:01,079
45 days or so.

584
00:18:01,080 --> 00:18:03,399
So you're lucky in that sense.

585
00:18:03,400 --> 00:18:05,499
One thing I will say, whatever

586
00:18:05,500 --> 00:18:07,459
happens, whoever controls the

587
00:18:07,460 --> 00:18:09,479
Congress in the next session,

588
00:18:09,480 --> 00:18:11,019
I think one thing I would keep in

589
00:18:11,020 --> 00:18:13,419
mind is this, there's gonna be

590
00:18:13,420 --> 00:18:15,379
a turnover in not just

591
00:18:15,380 --> 00:18:17,699
which party controls Congress,

592
00:18:17,700 --> 00:18:19,639
but also generationally.

593
00:18:19,640 --> 00:18:21,199
I think we're gonna see a lot of new

594
00:18:21,200 --> 00:18:23,439
blood and a lot new people

595
00:18:23,440 --> 00:18:25,739
who are open to technology,

596
00:18:25,740 --> 00:18:27,859
open to innovation and open

597
00:18:27,860 --> 00:18:29,799
really to new ways to look at

598
00:18:29,800 --> 00:18:31,639
things. And that's exciting for

599
00:18:31,640 --> 00:18:33,599
me. It really allows us

600
00:18:33,600 --> 00:18:35,919
to continue this educational process

601
00:18:35,920 --> 00:18:37,879
that I mentioned and work with

602
00:18:37,880 --> 00:18:40,219
people that want to make sure that

603
00:18:40,220 --> 00:18:42,059
we do jump into

604
00:18:42,060 --> 00:18:43,799
these new technologies in the right

605
00:18:43,800 --> 00:18:45,699
way and do it in a way

606
00:18:45,700 --> 00:18:47,619
that we protect consumers.

607
00:18:47,620 --> 00:18:49,599
But also allow continued

608
00:18:49,600 --> 00:18:51,439
innovation and, frankly, job

609
00:18:51,440 --> 00:18:53,399
creation to continue here in the

610
00:18:53,400 --> 00:18:55,499
United States and elsewhere.

611
00:18:56,899 --> 00:18:58,499
Beautiful, John, thank you so much

612
00:18:58,500 --> 00:18:59,799
for taking the time to join us here

613
00:18:59,800 --> 00:19:00,979
on the starting block.

614
00:19:00,980 --> 00:19:01,979
I promise next time we're in New

615
00:19:01,980 --> 00:19:03,659
York City, we'll hit you up and try

616
00:19:03,660 --> 00:19:05,159
and do something in person.

617
00:19:05,160 --> 00:19:06,819
And if you're heading to Token 2049

618
00:19:06,820 --> 00:19:08,419
or any of the upcoming conferences

619
00:19:08,420 --> 00:19:10,439
into the end of the year, we would

620
00:19:10,440 --> 00:19:12,139
love to have you with us.

621
00:19:12,140 --> 00:19:14,439
Indeed, love doing this.

622
00:19:14,440 --> 00:19:15,419
Thanks very much, John.

623
00:19:15,420 --> 00:19:17,159
And thank you very much for joining

624
00:19:17,160 --> 00:19:18,819
us for the starting blog today.

625
00:19:18,820 --> 00:19:20,359
We're gonna keep it short and sharp

626
00:19:20,360 --> 00:19:22,239
as we return to

627
00:19:22,240 --> 00:19:24,479
offline broadcasting from

628
00:19:24,480 --> 00:19:26,039
our remote studio.

629
00:19:26,040 --> 00:19:27,979
We will be heading to Token 2049

630
00:19:27,980 --> 00:19:29,659
in a couple of weeks time and there

631
00:19:29,660 --> 00:19:31,359
are a couple of other big

632
00:19:31,360 --> 00:19:32,519
conferences that we will be

633
00:19:32,520 --> 00:19:34,419
broadcasting live in the field

634
00:19:34,420 --> 00:19:35,879
from. But if you missed our

635
00:19:35,880 --> 00:19:37,759
broadcast from Avalanche

636
00:19:37,760 --> 00:19:38,959
Summit last week, I just want to

637
00:19:38,960 --> 00:19:40,599
give you a rundown of the who's who

638
00:19:40,600 --> 00:19:41,899
that joined us. And if you are

639
00:19:41,900 --> 00:19:43,559
interested, you can, of course, go

640
00:19:43,560 --> 00:19:45,559
and re-watch the streams from last

641
00:19:45,560 --> 00:19:46,939
week if you want to hear from some

642
00:19:46,940 --> 00:19:48,099
of the big names we had.

643
00:19:48,100 --> 00:19:50,059
Stani Kulakov, Aave's founder,

644
00:19:50,060 --> 00:19:52,319
of course, we had Graham Ferguson,

645
00:19:52,320 --> 00:19:53,419
who's the head of Ecosystem at

646
00:19:53,420 --> 00:19:54,319
Securitize.

647
00:19:54,320 --> 00:19:55,779
It was a great conversation.

648
00:19:55,780 --> 00:19:57,619
If you're interested in the life

649
00:19:57,620 --> 00:19:59,339
of being a content creator, we had

650
00:19:59,340 --> 00:20:01,179
Clemente, who's one of my favorite

651
00:20:01,180 --> 00:20:02,819
funniest KOLs out there.

652
00:20:02,820 --> 00:20:03,999
He joined us to talk a little bit

653
00:20:04,000 --> 00:20:06,419
about storytelling in crypto and

654
00:20:06,420 --> 00:20:08,419
trying to survive the trenches.

655
00:20:08,420 --> 00:20:09,399
And then, of course, one of my

656
00:20:09,400 --> 00:20:10,779
favorite conversations of the entire

657
00:20:10,780 --> 00:20:12,819
week was Chris Giancarlo,

658
00:20:12,820 --> 00:20:14,919
former CFTC chairman, dropping

659
00:20:14,920 --> 00:20:16,879
some nuggets of wisdom and some

660
00:20:16,880 --> 00:20:18,699
really great insights on the road

661
00:20:18,700 --> 00:20:20,499
that we've walked to get to where

662
00:20:20,500 --> 00:20:22,459
crypto regulation is,

663
00:20:22,460 --> 00:20:24,229
where it is in the United States.

664
00:20:24,230 --> 00:20:26,069
And what the future does

665
00:20:26,070 --> 00:20:27,429
hold.

666
00:20:27,430 --> 00:20:28,609
Cody Carbone from the digital

667
00:20:28,610 --> 00:20:30,109
chamber joined us as well.

668
00:20:30,110 --> 00:20:32,029
That was a really interesting
conversation.

669
00:20:32,030 --> 00:20:33,889
One of the best VCs out

670
00:20:33,890 --> 00:20:35,709
there, Haseeb Qureshi from

671
00:20:35,710 --> 00:20:37,629
Dragonfly also sat down with us.

672
00:20:37,630 --> 00:20:38,949
A really interesting conversation

673
00:20:38,950 --> 00:20:41,049
around his thesis on

674
00:20:41,050 --> 00:20:42,889
AI investing and just

675
00:20:42,890 --> 00:20:44,569
crypto investing and VCs.

676
00:20:44,570 --> 00:20:46,469
We had back to backs with Zach

677
00:20:46,470 --> 00:20:48,189
Pandel and Hunter Horsley from

678
00:20:48,190 --> 00:20:50,859
Grayscale and Bitwise respectively.

679
00:20:50,860 --> 00:20:52,359
And then we wrapped up with Nick

680
00:20:52,360 --> 00:20:54,199
Cerny, who was from

681
00:20:54,200 --> 00:20:55,279
Janice Henderson.

682
00:20:55,280 --> 00:20:57,099
Then on day two, we kick things off

683
00:20:57,100 --> 00:20:59,079
with Kevin O'Leary, by far the

684
00:20:59,080 --> 00:21:01,179
most interesting conversation of

685
00:21:01,180 --> 00:21:03,079
the two days of broadcasting.

686
00:21:03,080 --> 00:21:04,379
We are putting out snippets of

687
00:21:04,380 --> 00:21:06,359
those, that interview in particular

688
00:21:06,360 --> 00:21:07,739
on our social media today.

689
00:21:07,740 --> 00:21:09,559
So keep an eye out on the block's

690
00:21:09,560 --> 00:21:10,539
socials.

691
00:21:10,540 --> 00:21:11,819
I really enjoyed conversations with

692
00:21:11,820 --> 00:21:13,799
Bajie Illuminati, Caroline

693
00:21:13,800 --> 00:21:15,619
Pam, who of course was the

694
00:21:15,620 --> 00:21:17,459
chief legal officer at MoonPay, but

695
00:21:17,460 --> 00:21:19,299
she also was a former CFTC

696
00:21:19,300 --> 00:21:20,378
commissioner.

697
00:21:20,379 --> 00:21:21,959
And Meltem Demiroz, who's the

698
00:21:21,960 --> 00:21:23,579
founder and GP of Crucible, jumped

699
00:21:23,580 --> 00:21:24,739
on the live stream as well.

700
00:21:24,740 --> 00:21:25,879
We had a great conversation about

701
00:21:25,880 --> 00:21:27,719
Bitcoin and her thoughts on

702
00:21:27,720 --> 00:21:28,959
AI and what that means for the

703
00:21:28,960 --> 00:21:30,499
industry. And then we had John

704
00:21:30,500 --> 00:21:32,119
Nahas, who's a chief business

705
00:21:32,120 --> 00:21:33,359
officer at Ava Labs.

706
00:21:33,360 --> 00:21:34,679
He was followed by Charlie Cooper,

707
00:21:34,680 --> 00:21:35,959
who's president of Ava labs.

708
00:21:35,960 --> 00:21:37,239
We spoke, obviously, all things

709
00:21:37,240 --> 00:21:38,239
Avalanche, really, really great

710
00:21:38,240 --> 00:21:39,159
conversation.

711
00:21:39,160 --> 00:21:41,419
And then, we finished off with

712
00:21:41,420 --> 00:21:42,679
an interesting conversation with

713
00:21:42,680 --> 00:21:45,019
Andy Ross from Kalshi.

714
00:21:45,020 --> 00:21:46,199
So if you want to catch up on any of

715
00:21:46,200 --> 00:21:47,399
that content, please go and check

716
00:21:47,400 --> 00:21:49,889
out our YouTube channel.

717
00:21:49,890 --> 00:21:51,829
While you're there, please subscribe

718
00:21:51,830 --> 00:21:53,689
to the channel. And if you enjoy the

719
00:21:53,690 --> 00:21:55,109
broadcast, go ahead and like that.

720
00:21:55,110 --> 00:21:57,189
If you joined us on X today, please

721
00:21:57,190 --> 00:21:58,709
like and retweet this broadcast so

722
00:21:58,710 --> 00:22:00,109
we can get more eyeballs on our

723
00:22:00,110 --> 00:22:01,689
conversation that we just had with

724
00:22:01,690 --> 00:22:02,529
John Medel.

725
00:22:02,530 --> 00:22:04,509
And if don't already set a reminder

726
00:22:04,510 --> 00:22:06,489
on your calendar, the starting block

727
00:22:06,490 --> 00:22:08,349
broadcast live right here on

728
00:22:08,350 --> 00:22:10,789
X on YouTube daily at 8.30

729
00:22:10,790 --> 00:22:11,769
a.m. Eastern time.

730
00:22:11,770 --> 00:22:13,469
If you're in the United States,

731
00:22:13,470 --> 00:22:15,449
that's 2.30 p.m., Central European

732
00:22:15,450 --> 00:22:17,489
time until the clocks change.

733
00:22:17,490 --> 00:22:18,589
It's coming soon.

734
00:22:18,590 --> 00:22:20,229
And autumn's in the air.

735
00:22:20,230 --> 00:22:21,789
That is it for today's show.

736
00:22:21,790 --> 00:22:22,969
Happy Monday to you wherever you are

737
00:22:22,970 --> 00:22:24,449
around the world. Stay warm, set a

738
00:22:24,450 --> 00:22:25,449
reminder on your clocks, come and

739
00:22:25,450 --> 00:22:27,369
join us for tomorrow's show,

740
00:22:27,370 --> 00:22:28,530
until then, bye bye.