The Scoop

Evan Cheng is the Co-Founder and CEO of Mysten Labs — the development team valued at over $2 billion that is behind the soon-to-be-released Sui blockchain.In this episode, Cheng discusses the limitations of current blockchains in supporting complex consumer applications and explains how Sui plans to overcome this challenge with the help of the Move programming language, which was initially created at Facebook.During this episode, Chaparro and Cheng also discuss: Why a vibrant developer ecosystem is the key to mass adoption How Sui could take blockchain gaming to the next level What advantages Move has over Solidity This episode is brought to you by our sponsors Circle, Railgun, Flare NetworkAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRailgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s zero-knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.

After sitting on the sidelines during the bull market mania of 2021 and the early part of 2022, early-stage investment firm 1kx has been deploying at a "frantic" pace since the third quarter of last year, according to Founding Partner Lasse Clausen."We really like the bear markets," Clausen said, "We know that this is the good time to be very actively investing."1kx has a policy of holding onto its crypto investments for at least three years, which Clausen suggests is a good guideline given the industry's rapid rate of development:"The space overall just innovates much much faster than anything else, so I think a three to five year time frame makes sense for crypto venture."During this episode, Chaparro and Clausen also discuss: Why 1kx is betting on zk-tech to take Ethereum from '0 to 1' Opportunities in 'NFT financialization' Development of on-chain identity This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRailgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s Zero-Knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.About NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to six devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

SEC Commissioner Hester Peirce opposes her agency's recent targeting of Kraken's staking program in the US. "If investor protection is about just shutting programs down or preventing people from purchasing certain things — that's a very unimaginative form of investor protection," Commissioner Peirce said.In this episode, Commissioner Hester Peirce discusses how the SEC's recent enforcement action towards Kraken is emblematic of the agency's broader attempt to regulate the crypto industry in the US through enforcement actions.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRailgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s Zero-Knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.About NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to six devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

With U.S. regulators cracking down on digital assets, Coinbase's Chief Legal Officer Paul Gewal says Coinbase is just looking for consistency.“We’re not saying we don’t want to be regulated. We’re just saying that regulation all ought to occur under the rule of law that is in a manner that’s consistent with what Congress wrote,” he added.One particular inconsistency Grewal points out is how the Securities and Exchange Commission’s request for crypto exchanges to register as national securities exchanges clashes with Coinbase's explicit policy of not listing securities:“For there to be no distinction drawn between the products that are securities and the products that aren’t, is effectively saying that we would have to agree that the rule of law doesn’t matter and that even though Congress limited the SEC’s jurisdiction to securities and securities alone, we should come in and register anyway,” Grewal said. During this episode, Chaparro and Grewal also discuss: How Coinbase's staking product differs from Kraken's Why it's in the U.S. government's interest to protect stablecoins What it means to receive a Wells notice This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRailgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s Zero-Knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.About NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to six devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

US financial regulators are conducting a coordinated front against certain crypto companies in what Compound Labs Founder Robert Leshner says is a "planned set of product takedowns."One particular case to watch is the SEC's potential suit against Paxos over its BUSD stablecoin, which the SEC is alleging is an unregistered security. According to Leshner, this case is of particular importance given the precedent it could set for the billion-dollar stablecoin industry:"If there's an argument that USDC and Tether are securities and this winds up being contested over months and years, if it doesn't go the right way, I think it's an Armageddon scenario for a lot of crypto."During this episode, Chaparro and Leshner also discuss: The trade-offs between CeFi vs. DeFi risks How to refine decentralized governance Why crypto is set to flourish off-shore This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

In this venture-focused segment of The Scoop, veteran crypto VCs Meltem Demirors and Vanessa Grellet unpack the trends shaping crypto's venture landscape in 2023.According to Demirors, crypto companies must follow the flow of funds:"The name of the game is 'interchange,'" Demirors said. "The closer you migrate to where the actual interchange happens, the more likely you are to earn consistent revenues, which then results in you being able to raise capital."Although crypto venture funding hit a two-year low last quarter amidst the chaos caused by FTX's collapse, Grellet is seeing "a lot of excitement in the early stage," with infrastructure and scaling plays among the most popular with investors. This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Just as the internet revolutionized the taxi industry through the advent of apps like Uber and Lyft, it is only a matter of time before money gets brought into the digital age, according to the pseudo-anonymous crypto personality Punk6529."Eventually cash is also going to end up being a centralized database," said Punk6529, and "the person who has the master password to the database can decide what rights you have in society."In this episode, Punk64529 lays out two possible futures for our society: one in which a handful of centralized corporations control the details of our daily lives, and one in which decentralized communities come to a consensus on the best path forward.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

For web3 developers looking for alternatives to tools like Amazon Web Services or Google Cloud Platform, QuickNode's development environment allows teams to easily build and deploy on over 16 blockchains.According to QuickNode Co-Founder and CEO Alex Nabutovsky, a recent surge in demand for NFT data has played a large part in QuickNode's recent success. "The amount of need for the NFT technology and NFT API, and NFT data is growing on our platform by a factor of let's just say 5x every quarter," Nabutovsky said. In this episode of The Scoop, Nabutovsky discusses how QuickNode's $60 million Series B — which valued the startup at $800 million — will be used to expand the business, and why he believes NFTs will continue to be a driver of growth for the web3 industry in the years to come.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

From Starbucks to Warner Music, large corporations are building on the Polygon blockchain to bring their web3 visions to life.According to Polygon Labs President Ryan Wyatt, it’s not Polygon’s tech that is attracting big brands, but rather Polygon Labs’ unique "white glove" approach to corporate partnerships. “Fortune 500 companies are used to having their hand held along a journey, especially in something like web3 where there’s a lot to navigate,” Wyatt said.In this episode, Wyatt discusses Polygon Labs’s approach to business development, how the upcoming release of Polygon’s zkEVM will help Ethereum scale, and the future of blockchain gaming.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Since the start of 2023, the total crypto market cap has risen over 20%, and daily exchange volume has nearly tripled, according to data from The Block Research. In this Market Pulse edition of The Scoop, The Block's VP of Research Larry Cermak and eGirl Capital's Hedgedhog discuss the dynamics shaping the crypto market's current rally, and explain why they aren't holding out hope for a sustained uptrend.According to Cermak, crypto is lacking a strong enough narrative to be able to break free from broader macro uncertainty."I think the biggest difference is that right now we don't really have anything to kind of drive the rally to have legs under it, and I think there's still a lot of uncertainty in the macro markets," he said.Hedgedhog shares Cermak's doubts about the current trend, noting how quickly retail market participants have begun displaying risk-on behavior: "We're seeing a lot of degenerate behavior coming back really quickly — Canto and all these new NFTs, and there are new Ohm forks … people haven't really learned anything, and they're really risk-on already."During this episode, Chaparro, Cermak, and Hedgedhog also discuss: How traders are positioning for Ethereum's Shanghai upgrade Why the NFT market is set to decorrelate from crypto A look inside the centralized exchange turf war This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

While the crypto market may seem chaotic to the outside observer, game theory can be used to analyze the underlying dynamics that lead to volatile price action.Jordi Alexander, Founder & CIO of Selini Capital, has a track record for utilizing game theory to predict crypto market events — including the collapse of the TerraUSD 'stablecoin' last year. In this episode of The Scoop, Alexander unpacks how individual cryptocurrencies derive their value, and explains how game theory can be used to demystify crypto market behavior.According to Alexander, the value of cryptocurrencies comes largely from their potential for some future utility:“A lot of these tokens, including the big ones, including Bitcoin and Ethereum, they’re options, and you have to understand what gives an option value . . . Ethereum is an option on all the future apps that can be built and use that platform . . . Bitcoin is a call option on it being an alternative to the fiat financial system.”In addition to economic predictions, game theory can also be applied to crypto in a geopolitical context when it comes to regulation.As Alexander explains, the United States unilaterally banning crypto would do little to stop the growth of the industry:"If they ban [crypto] over here, game theory stipulates that there's going to be so much demand that will get satisfied by another country providing it that maybe it's actually not good for the United States to ban and assume that this is going to go away because it's not going to stop crypto from developing — it'll just drive it to somewhere else."This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Rep. Tom Emmer, R-Minn., newly elected House GOP whip and a member of the House Financial Services Committee, has long been at the forefront of shaping the conversation regarding the regulation of cryptocurrencies and digital assets in the United States.In this episode of The Scoop, Rep. Emmer provides an overview of how Congressional attitudes towards crypto are shifting in light of the tumultuous events of 2022, and how the new asset class is gaining support across the political spectrum.According to Emmer, the Congressional Blockchain Caucus has been spreading the message that the collapse of FTX is not representative of the broader crypto industry:"We have been pushing back on this nonsense that FTX is indicative of crypto. It's not. It is as old as finance, it is centralized finance, and the abuses that happen when you have an opaque operation with a very small group of people that are running it on the inside."Congressional inquiries regarding regulators' lack of oversight in the case of FTX have come from both sides of the aisle, with Democratic Rep. Ritchie Torres (NY-15) officially calling on the US Government Accountability Office to investigate the SEC. Despite representing opposing political parties, Rep. Emmer explains that crypto is one issue where he and Rep. Torres see eye-to-eye:"Ritchie Torres and Tom Emmer could not be more different — where we come from, our lives, from what I know — and yet, we could not be more alike when it comes to this issue of crypto."During this episode, Chaparro and Rep. Emmer also discuss: Why digital assets empower the individual How the SEC could have prevented FTX What crypto regulation to expect in 2023 Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.Episode 4 of Season 5 of The Scoop was recorded remotely with The Block's Frank Chaparro and Rep. Tom Emmer, R-Minn.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Nabil Manji, Worldpay's head of crypto and web3, describes his firm as "one of the largest companies that most people have never heard of," since Worldpay plays a relatively behind-the-scenes role facilitating the "plumbing" of different aspects of the global financial system.In this episode of The Scoop, Manji discusses how Worldpay is positioning itself to expand its digital asset infrastructure and the ways that traditional financial institutions have adjusted their digital asset strategies in the wake of last year's crypto meltdown. Worldpay was acquired by payment services giant Fidelity National Information Services (FIS), a Jacksonville, Florida based firm in 2019 for $35bn.According to Manji, many firms from traditional finance are continuing to build out infrastructure for digital assets while also reducing speculative exposure to the asset class:"If you look at some of the larger financial services technology providers, and in some cases a lot of the larger banks, they're continuing to invest on that technology adoption side even while simultaneously pulling back on the more speculative investment side."Although many institutions are still following through on plans to provide services for digital assets, Manji also says the problems in the industry exposed over the past year need to be addressed:"The challenges presented over the past nine months and some of the problems that those of uncovered are very material, and until some or all of those are meaningfully addressed, I do think it's going to delay or postpone the pace at which institutions and enterprises in financial services might have leveraged digital assets or the underlying technology."During this episode, Chaparro and Manji also discuss: How CBDC's could be beneficial. The tokenization of real-world assets. The future of stablecoins. This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

The crypto bull market in 2017 inspired journalist Camila Russo to tell the story behind the creation of Ethereum.Russo's book, "The Infinite Machine," has caught the attention of Ridley Scott, whose production company Scott Free Productions has signed on to co-produce the film adaption. Ridley Scott is best known for helming such blockbusters as "Gladiator", "Alien", "Blade Runner", "Thelma & Louise", among many others.In this episode of The Scoop, Camila Russo recounts how her personal experience using crypto in South America showed her the advantages of decentralized systems and shares some striking revelations from time spent researching the origins of Ethereum.According to Russo, an important early dispute among Ethereum's eight cofounders centered around Ethereum's business model:"It was, 'Are we are we building a foundation to encourage building on top of this open source platform?' or, 'Are we building a for-profit company that's going to make tons of apps on top of this protocol?' . . . At the end of that, Vitalik had to make the call, and he decided that this would be a nonprofit foundation."One takeaway Russo hopes readers get from her book is the idea that "there is an alternative being built," when it comes to things like the internet (web3) and our financial system (DeFi).As of yet, there is no release date for the film adaptation of "The Infinite Machine," although the community has created an NFT collection to raise funds for the film.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Since its beginnings as a skunkworks intern project in late 2015, Jump Crypto has developed a multifaceted crypto strategy that spans proprietary trading, venture investing, and infrastructure development. Although Jump had some exposure to FTX, the firm says it remains well capitalized. In this episode of The Scoop, Jump Crypto President Kanav Kariya reflects on lessons learned during 2022 and analyzes the current state of the industry's capital markets. According to Kariya, many crypto market participants struggled with proper collateral management over the course of last year: "The perceived maturity of a lot of the participants in the market was clearly way out of line with what the reality was — the quality of the collateral was astonishing across the board." Going forward, Kariya envisions deep-pocketed institutions from traditional finance entering the market instead of crypto-native startups. As he explains: "When it comes to institutional lending and prime brokerage, that feels like an opportunity for a much better capitalized player to step into the market at this point — it's not a startup opportunity in my mind." Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPNAbout CircleCircle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.About RailgunRAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN’s Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more. About FlareFlare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.NetworkAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

For The Scoop’s final episode of 2022, Larry Cermak, vice president of Research at The Block, joins host Frank Chaparro to unpack highlights from The Block Research’s 2023 Digital Assets Outlook Report and to break down some of the major events that shaped the crypto market in 2022.The Block Research’s 2023 Digital Assets Outlook Report offers a deep look into the state of the crypto markets today and analysis on trends that could emerge in the year ahead.Generally speaking, Cermak says institutional investors are becoming more comfortable with crypto’s extreme volatility:“The institutional investors understand now that just because we have dropped by 80%, and just because a lot of funds and a lot of companies have gotten destroyed, that doesn't mean that crypto will not come back. They understand the volatility, understand the cycles, and a lot of them want to be in a better position before the next movement.”Although bear markets are characterized by a lack of exuberance among market participants, “these are really the periods when a lot of new projects are born,” Cermak says. “A lot of new narratives for the industry are going to be born.”Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.This episode is brought to you by our sponsors Tron, Ledn, Athletic Greens, NordVPNAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first-class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provide a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real-life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/ScoopAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop

Founded in 2013, GSR is one of the oldest crypto market makers and is also an active venture investor.In this episode of The Scoop, GSR CEO Jakob Palmstierna discusses how his firm is responding to the collapse of FTX and shares his forecast for what a crypto recovery might look like.According to Palmstierna, GSR covered the losses of all of its customers who had funds stuck on FTX: “We announced that customers of ours that had funds locked in FTX, we would reimburse them so they didn't have those losses, which is not ‘effective altruism,’ it's about creating some stability within the market and being here for the future.”Although 2022 was filled with calamities for the crypto industry, Palmstierna says the underlying technology is continuing to develop:“Everything that happened over 2022 has very little to nothing to do with the underlying technology of crypto. There are well-funded projects out there, there are really good builders — it's one of the biggest sections of talent density that we have seen since the early internet days.”Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.Episode 128 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and GSR CEO Jakob Palmstierna.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first-class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provide a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real-life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop

Founded in 2011, Bitstamp has navigated the ups and downs of multiple crypto market cycles over the years.In this episode of The Scoop, Bitstamp USA CEO Bobby Zagotta discusses Bitstamp’s resilience, and explains how centralized exchanges can restore user confidence in the wake of FTX’s collapse.According to Zagotta, "proof-of-reserves" is an important step towards giving customers more visibility into how centralized exchanges manage customer assets: "On the one hand, the way many exchanges operate is pretty opaque; but on the other hand, blockchain technology creates the opportunity for radical transparency… Proof-of-reserves will allow customers to see that the assets on the exchange exceed the liabilities on the exchange.”Although large exchanges such as Binance, KuCoin and Crypto.com have all attempted to establish proof-of-reserves, the accounting firm conducting these reports announced last week that it is pausing all work for its crypto exchanges clients, and others around the industry have been skeptical of the legitimacy of these reports.The current method for proof-of-reserves “is not perfect,” Zagotta says, because “it's a snapshot in time.”Episode 127 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Bitstamp USA CEO Bobby Zagotta.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn,About TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

To date, Silicon Valley-based VC firm a16z has raised over $7.6 billion to invest in crypto and web3.In this episode of The Scoop, a16z General Partner Chris Dixon shares some of the guiding principles that determine a16z’s investments in the crypto space and explains why the time is ripe for decentralized networks to replace centralized, corporate networks.According to Dixon, both a16z and other VC firms have begun to shy away from investing in projects building on top of corporate networks:“Our firm and others do not invest in things anymore that are building on these networks — on these corporate networks like Facebook and TikTok and things — because they know we've seen before that if you're successful, they'll just take all the money.”While corporate networks had initial advantages such as access to VC funding and the ability to subsidize parts of their business models, Dixon believes decentralized networks have matured to the point where they are ready to take on their corporate counterparts.As Dixon explains,“Now we have the tools, I believe we, meaning the side of people that want things to be open and community-owned through blockchains, now have the tools to rival corporate networks and beat them.”Episode 126 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and a16z General Partner Chris Dixon.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop

Solana co-founder Raj Gokal has referred to the FTX crisis as a "crucible moment" for Solana's ecosystem.The amount of value moved on Solana has decreased dramatically since Alameda declared bankruptcy in November, data from The Block shows.In this episode of The Scoop, Solana co-founders Raj Gokal and Anatoly Yakovenko discuss how Solana initially became intertwined with FTX, and when they first started to notice that Sam Bankman-Fried’s ambitions diverged from the crypto ethos.While Bankman-Fried and FTX were focused on building a centralized exchange, the Solana co-founders were focused on building self-custody solutions. As Yakovenko explains, “FTX became a much bigger brand and started going in a very global direction … but we were focused on building stuff for self-custody users.”Despite the setback FTX’s collapse has had on Solana’s ecosystem, Gokal says the focus on self-custody has led to real user adoption:“It's pretty exciting now to see that focusing on self-custody users and open-source software has created this huge boom — it's what captured most of the users and active addresses on Solana.”Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.Episode 125 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Solana co-founders Raj Gokal and Anatoly Yakovenko.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Six-time NBA champion Scottie Pippen is making his mark on the metaverse with a digital sneaker collection featuring 1,000 unique ‘SP33’ NFTs.For the launch, Pippen partnered with Orange Comet — the company that recently helped Sir Anthony Hopkins launch his own NFT collection.In this episode of The Scoop, Scottie Pippen and Orange Comet CEO Dave Broome discuss how Web3 is creating new ways for celebrities and fans to connect, and share the story behind the upcoming ‘SP33’ NFT collection.According to Pippen, launching a digital sneaker collection is a way to bring his brand into the digital era.“I was a big sneakerhead growing up in the NBA world, so this is my opportunity to really resurface back into the sneaker world, but do it from a digital standpoint.”Not only will holders be able to wear their SP33 shoes around the metaverse, but 33 of the 1,000 NFTs will also come with a real-world sneaker prototype.Episode 124 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and NBA legend Scottie Pippen and Orange Comet CEO Dave Broome.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Or click here to watch the full interview on YouTube. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, NordVPNAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout NordVPNNordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop.

A DeFi protocol known as Cryptex offers a permissionless way to speculate on the total crypto market capitalization through its novel index token, TCAP.Now, Cryptex is on the verge of releasing its newest index token, JPEGz, which will allow holders to track the total market cap of NFTs on Ethereum.In this episode of The Scoop, Cryptex co-founder Joe Sticco shares the details behind the upcoming JPEGz NFT index token, including why the index token is a good way to speculate on the future growth of the NFT sector.According to Sticco, the list of NFT collections included in the JPEGz index token is dynamic, which ensures that whenever a hot new NFT project crops up in the future, it will be included in the index.As Sticco explains,“NFTs are literally in their infancy. I look at them now and it's like where crypto was in 2017 — we had that first bust cycle now, and now we're in the ground, and who knows what happens next, but JPEGz is going to be the ability to track the NFT market cap.”Episode 123 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Cryptex co-founder Joe Sticco.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Or click here to watch the full interview on YouTube. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In this month's 'Market Pulse' episode of The Scoop, The Block Vice President of Research Larry Cermak and Loomdart, a founding member of crypto-native venture firm eGirl Capital, reflect on FTX’s collapse and speculate on what comes next for the crypto industry.According to Cermak, former FTX CEO Sam Bankman-Fried (SBF) is remaining in the Bahamas to stay engaged with local regulators:“Sam still has connections in the Bahamas and the government is still standing by him … He just made them look terrible, so they kind of have to go in this direction”During a recent interview, SBF confirmed he is still living in the Bahamas, although he is not communicating with FTX’s new CEO John Ray.While FTX's collapse pushed crypto prices to new yearly lows, Loomdart says it is ultimately better for the long-term health of the industry: “Crypto is such an open and free ecosystem to where if we don't have this type of education by fire it just keeps getting worse … If FTX didn't blow up now and they managed to keep going — I don’t think that hole was going to shrink.”Episode 122 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Larry Cermak, and Loomdart, co-founder of eGirl Capital.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Or click here to watch the full interview on YouTube. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In this episode of The Scoop, Sam Bankman-Fried describes how a legacy payment system linked FTX’s future to Alameda Research’s fate, and explores why regulators and auditors alike failed to discover this relationship.According to Bankman-Fried, many FTX customers would fund their accounts via direct wire transfers to Alameda Research bank accounts:“What that flow I think looked like was basically: Bob wires $100 straight to Alameda Research, and then Alameda effectively ledger transfers $100 to Bob on FTX.”SBF has claimed that wired customer funds contributed to over half of Alameda’s position on FTX, likely totaling over $5 billion, as reported by the WSJ.In hindsight, SBF says a “reasonably responsible” way of managing direct wire transfers would have been only debiting Alameda’s primary FTX account. In practice, however, wired customer funds were being credited from an Alameda stub account that SBF says “was specifically meant to be a ledger for wire transfers.”When pressed on how regulators and auditors failed to uncover the extent of Alameda’s relationship to FTX, SBF alleged that customer positions — including Alameda’s — were not part of FTX’s balance sheet:“This was effectively a customer negative position, and many customers had negative positions open on FTX… Those were not part of FTX's assets or liabilities, they were customer assets and liabilities, and so FTX's financials were not directly impacted by this.”Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.Episode 121 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro, and Sam Bankman-Fried, Co-Founder of FTX and Alameda Research.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop

In 2020, Cowen Digital formed to allow institutional customers of the investment bank Cowen to trade digital assets. The digital arm has been growing steadily in its eight months of existence, despite the onset of crypto winter.In this episode of The Scoop, Cowen Digital managing director and head Drew Forman explains how the crypto industry can rebuild in the wake of FTX’s meltdown, as well as what it will take to repair trust in the space among institutional investors.According to Forman, many of Cowen’s institutional clients are “getting the pipes ready” to take part in crypto’s next wave. But regulatory clarity is still needed before large, sophisticated institutions get involved. Forman explains:“I welcome a set of rules ahead of time that we all look to abide by — and hopefully that allows the big institutional investors with the trillion dollar balance sheets to start allocating to the space.”The SEC and DOJ are currently examining FTX’s case, and the CFTC chair’s is set to appear before the Senate Agriculture Committee on December 1 to testify on the exchange’s collapse.Episode 120 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, and Drew Forman, Managing Partner and Head of Cowen Digital.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

As the crypto market struggles to gain its footing in the wake of FTX’s demise, sweeping layoffs have thinned the ranks of many companies.In this episode of The Scoop, Rob Paone, founder and CEO of crypto recruiting firm Proof of Talent, shares his perspective on how the crypto hiring landscape has changed during the bear market.According to Paone, the current dynamic between job seekers and prospective employers is much more balanced than it was last year:“It's not 100% a company market right now… but it is a lot more equal than six to twelve months ago — it was a totally candidate-driven market of individuals naming their price and going wherever they wanted with multiple offers.”Paone says that candidates with technical skills should still be able to find plenty of opportunities: “The easiest transition for a lot of people is technical roles — there is a huge demand still for engineering talent…the non-technical roles can get a little bit more challenging.”Episode 119 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, and Rob Paone, Founder and CEO of Proof of Talent.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first-class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In the fourth installment of The Scoop’s continued coverage of FTX's demise, host Frank Chaparro examines the legal underpinnings of FTX’s bankruptcy and restructuring process with Dan Besikof, a partner at the law firm Loeb & Loeb, and Mark Shapiro, Chair of the Financial Restructuring Group and a partner at the law firm of Shearman & Sterling. In 2008, Shapiro served as the Head of Restructuring for Lehman Brothers, where he guided the sale of the firm's U.S. assets in chapter 11.According to Besikof, FTX’s fiduciary will likely attempt to bring money back into the estate through lawsuits:“One of the things that they're going to look at is where did money go out where value didn't come back, and to the extent money went out and value didn't come back, that's a natural target for a fraudulent conveyance lawsuit or a fraudulent transfer lawsuit.”FTX has notified a federal judge it wants BitGo to custody its $740 million worth of digital assets.While the exact situation of FTX’s finances is still uncertain, Shapiro says the sheer amount of money lost by FTX users is likely to prompt regulators to take a more proactive approach going forward:“Now that it's become so public and so much money has been lost, I think the paternalistic side of the government is going to take over and try to do something about protecting investors.”Episode 118 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, Dan Besikof, a Partner at Loeb & Loeb, and Mark Shapiro, a Partner at Shearman & Sterling.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Web3 investment firm CoinFund recently launched a $300 million fund targeting early-stage crypto and web3 startups.In this episode of The Scoop, CoinFund Managing Partner David Pakman shares how this fund fits into CoinFund’s broader investment thesis for crypto and web3, including why the fund is specifically targeting early-stage startups.The new fund is intended for new crypto startups already showing signs of success. As Pakman explains,“We saw a lot of seed-stage companies graduating to have real progress and we wanted to invest in that stage too, so we raised a fund purposefully to invest at the Series A, maybe Series B stage of crypto projects that are showing some traction.”While CoinFund is also looking to raise an additional $250 million fund specifically for seed-stage investments, Pakman says the early-stage investments typically see the most value creation:“A company is showing a little bit of progress, they may be showing some evidence of product market fit, and they're going to raise — not growth capital yet — but, you know, ten to fifteen million dollars… the steepest part of the value creation can happen just after that moment.”Episode 117 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and CoinFund Managing Partner David Pakman.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Aptos, a new Layer 1 blockchain originating from the Facebook blockchain initiative Libra (later renamed 'Diem'), recently launched its mainnet.The architecture behind Aptos was designed to serve millions of people at scale and uses the Move programming language originally intended for Libra.In this episode of The Scoop, Aptos Co-Founders Mohammed Shaikh and Avery Ching explain why they believe Aptos empowers developers to build faster, more secure applications, and why applications built on Aptos will help onboard millions of users into web3.According to Ching, experiences built on Aptos will look and feel more like what users are accustomed to on existing Web2 platforms:“When we think about what's going to onboard people into web3 from web2, one thing that people are used to in web2 is extremely good latency for their products … being able to see those same kinds of experiences in web3 through the Aptos network is something that will be very powerful.”In addition to user experience, the Move language offers developers a Rust-based alternative to Solana — something some teams who were developing on Solana are currently exploring. While vulnerabilities in smart contracts have cost DeFi projects billions of dollars, the Aptos co-founders claim the Move language allows for fewer vulnerabilities. As Shaikh explains,“Making sure that engineers or product managers who are excited about a use case aren't thwarted by having to deal with smart contract complexity and worry about auditability — that’s really meaningful to us.”Episode 116 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Kevin Peng, and Aptos Co-Founders Avery Ching and Mohammed Shaikh.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com.About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In this venture capital-focused segment of The Scoop, CoinShare Chief Strategy Officer Meltem Demirors and Aglaé Ventures Managing Partner Vanessa Grellet explain which crypto verticals are oversaturated, and examine how market dynamics have changed since last year.Although the crypto industry has experienced many boom-and-bust cycles before, Demirors says “2021 will be one of the worst years for crypto venture returns.”Demirors explains that one of the reasons for this is a mismatch in block space supply and demand that was created during the proliferation of competing Layer 1 blockchains last year:“We're seeing that now with all of these overfunded L1s — there's just more block space than there is demand for block space.”Instead of mimicking existing successful projects, Grellet suggests that up-and-coming crypto projects should identify how they plan to differentiate themselves early on:“The question is, if you are a new platform coming into space or a new marketplace, what is distinctive that you bring that will allow for the end user to come to your platform rather than going to the existing incumbents?”Episode 115 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, CoinShares CSO Meltem Demirors, and Aglaé Ventures' Managing Partner Vanessa Grellet.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop

Part one of this two-part special on Nouriel Roubini’s new book, Megathreats, examines how the economy is facing a combination of interconnected phenomena that Roubini believes will result in a severe economic crisis.Roubini discusses some alternative assets that could gain prominence in the event of a global financial meltdown and explains why he prefers gold over bitcoin in such a situation, among other topics in his book Megathreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them.According to Roubini, the "weaponization" of the U.S. dollar is making it less attractive as a reserve currency:“We have weaponized the dollar as a tool of national security and foreign policy… If I owe you a billion it is my problem; if I owe you a trillion it is your problem because we could default on those treasuries eventually if there is a conflict…”Similar to USD, Roubini believes other common reserve currencies such as the euro, yen, pound, and Swiss franc can be similarly weaponized, leaving gold as the only widely held reserve currency that remains a viable option:“What's the only other asset that is a liquid asset that can be a reserve currency? … What's the only one that cannot be seized if there are sanctions? It’s gold — as long as you keep it in your own vault.”Although ardent bitcoin proponents claim BTC has similar properties, Roubini is dismissive of the largest cryptocurrency’s potential to be used legitimately in global commerce. “Bitcoin and other cryptocurrencies — we know they are not currencies,” Roubini says, “They are not a unit of account, nobody's pricing anything in Bitcoin, they're not scalable means of payment.” Episode 110 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Roubini Macro Associates Chairman and CEO, Nouriel Roubini.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Nouriel Roubini, the economist and professor who forecasted the housing collapse of 2008, is back with a new prediction for the global economy.In his new book, Megathreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them, Roubini examines a series of interconnected phenomena that he believes could lead to disaster if left unchecked.In the first part of this two-part macro special of The Scoop, Roubini lays out the thesis for his new book and explains why he believes the world is on course for the most adverse macroeconomic conditions of the last century.Key to Roubini’s new theory is the idea that since the threats our society is facing are all interconnected, their combined effects will be far-reaching:“Unfortunately, there are severe ‘megathreats’ that imperil not only our jobs, our income, our savings, our wealth, but they imperil the planet, and even peace and prosperity.”As an example of how these threats are related, Nouriel explains how if the economy were to enter stagflation, it would be combined with an unprecedented amount of debt:“We're going to face not only inflation, not only recession, not only stagflation, but a stagflationary debt crisis — what I call in the book, ‘the mother of all debt crises,’ — because the level of private and public debt as a share of GDP is at an all-time high.”Episode 113 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Roubini Macro Associates Chairman and CEO, Nouriel Roubini.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In this breaking news episode of The Scoop, we continue our coverage of FTX’s demise with Jim Greco, a general partner at F9 Research, and Douglas Colkitt, founder of Crocodile Labs.According to Greco, many market participants knew about the relationship between Alameda and FTX. Still, few thought former FTX CEO Sam Bankman-Fried would risk jeopardizing the success of his exchange:“Most professionals knew of the Alameda connection, but we all thought that this exchange is so valuable — it's worth $32 billion — why would he do something that would destroy the equity value in this exchange?” said Greco.Not only did Bankman-Fried end up destroying the value of his exchange, but it’s now apparent that he did so in an effort to prop up Alameda’s unsuccessful trading operation, said Greco.Colkitt added that recent events have shattered the perception that Alameda was one of the top performing firms in the space:“Nobody really expected FTX to run out of money because they thought Alameda must be making so much money, but it's really quite the opposite — they just seemed so incompetent that even with all these advantages they were losing money,” said Colkitt.?Episode 112 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, F9 Research General Partner Jim Greco, and Crocodile Labs Founder Douglas Colkitt.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Cosmos contributors recently released a new whitepaper that proposes major upgrades to the Cosmos Hub, the central blockchain of the Cosmos ecosystem.A community vote to determine whether or not the proposed changes are integrated into the Hub concludes on Monday, Nov. 14th.In this episode of The Scoop, Cosmos Co-Founder and Interchain Foundation President Ethan Buchman explains what will change if Atom 2.0 passes, as well as how these changes fit into his overall vision for how Cosmos’s app-chain architecture will continue to evolve.According to Buchman, key to Atom 2.0 is the introduction of a security model which will allow new application-specific blockchains to bootstrap security by utilizing the Cosmos Hub’s existing validator set: “The kind of change that's coming to the Hub specifically will allow new application-specific blockchains to launch that use the same validator set as the Cosmos Hub and use the same stake that already exists on the Cosmos Hub.”Not only will the proposed changes to Cosmos Hub make it easier and more secure for projects to launch their own chains, but Buchman anticipates it will increase the amount of development activity on the Hub itself:“This for the first time, opens the door to a sort of more active development environment and development velocity in and around the Cosmos Hub, whereas in the past, the Cosmos Hub was very slow to evolve.”Episode 111 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Cosmos Co-Founder and CEO of Informal Systems Ethan Buchman.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In part one of The Scoop’s coverage of the on-going controversy surrounding FTX and Alameda, Framework Venture co-founder Vance Spence suggested that FTX must have a very large hole in their balance sheet to be forced to turn to their biggest competitor for a buyout.We now know that FTX likely has upwards of an $8 billion hole in its balance sheet, which CEO Sam Bankman-Fried is attempting to fill through fundraising efforts.In part two of this breaking news episode of The Scoop, Evgeny Gaevoy, Founder and CEO of crypto market-making firm Wintermute, and Ki Jung Ju, Co-Founder and CEO of crypto data provider CryptoQuant, examine FTX's demise with Framework Ventures Co-founder Vance Spencer. They discuss the relationship between FTX and Alameda, as well as what comes next for the crypto industry when the dust finally settles.According to Ju, whose company CryptoQuant specializes in analyzing on-chain data, there have been many substantial transfers between FTX and Alameda:“Digging into their wallets, FTX and Alameda's wallets, and there are many significant flows between those entities… I think there are many untransparent or shady deals between FTX and Alameda…”While the full extent of the relationship between FTX and Alameda remains unknown for now, Gaevoy also says that the connection between the two companies was improper:“It turned out that there was this massive moral hazard — there were way more connection points than should have been morally possible, and it ended with a spectacular, spectacular blowup.”Episode 110 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, Wintermute Founder and CEO Evgeny Gaevoy, and CryptoQuant Co-founder and CEO Ki Jung Ju.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In response to the unexpected collapse of FTX, billions of dollars in crypto have been flowing out of exchanges over the past 24 hours as market participants rush to self-custody their funds.In this breaking news edition of The Scoop, Frank Chaparro and Framework Ventures Co-Founder Vance Spencer analyze the factors that contributed to FTX’s rapid downfall, as well as speculate on the comingled relationship between Alameda and FTX.According to Spencer, a Coindesk report on Alameda’s balance sheet published on November 2nd was a critical turning point in the saga.“What I was expecting a giga-brain firm like Alameda to have on their balance sheet was sovereign bonds offset by equity positions offset by other hedges, but it was just kind of like a retail crypto portfolio,” says Spencer.The prices of tokens associated with FTX and Alameda have plummeted, particularly FTX’s native FTT token, which is down over 80% in the last two days.Since FTX is backed by some of the biggest funds in the world including SoftBank and Tiger Global, Spencer suggests the fact that Binance appears to be FTX’s only option points to the likelihood that the reality of FTX’s book must be very severe:“For you to go to your biggest rival who is actively trying to kill you and sell to them implies to me that the other people weren't biting and that [Binance] was kind of the only option… What this makes me think is that the hole is either very large, or there's something else on the balance sheet which caused other people to pass.”Episode 109 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Framework Ventures Co-Founder Vance Spencer.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Crypto-native venture firm eGirl Capital is a syndicate of pseudonymous individuals who invest in early-stage web3 projects, and provide colorful market commentary on Twitter.In this special segment of The Scoop, Frank Chaparro is joined by The Block’s VP of Research, Larry Cermak, and eGirl Capital’s Co-Founder, Hedgehog, to discuss how this crypto bear market compares to previous cycles, and to explain how investors can spend this drawdown building an edge for the next bull market.According to Hedgehog, who is primarily a directional trader, crypto market conditions are suffering because there is less credit in the system. “Less credit leads to less liquidity and less volume,” says Hedgehog, “It's really a wasteland out there for us at the moment.”As data from The Block shows, daily crypto exchange volume is close to half of what it was at the start of the year–although have ticked up in recent days.During this period of reduced market activity, Cermak says it is important not only to be patient, but also to stay engaged:“A lot of people stay patient, but actually stop paying attention day-to-day. Those people that actually stay engaged… are in the best position for the next cycle, and they're also the ones that will be able to the most accurately predict when activity starts picking up again.”Episode 108 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Larry Cermak and eGirl Capital Co-Founder, Hedgehog.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, Ledn, Athletic GreensAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.ioAbout Athletic GreensBuild a Foundation for Better Health. It’s time to reclaim your health and arm your immune system with convenient, daily nutrition! Fill nutrient gaps, promote gut health, and support whole-body vitality with AG1. One daily serving delivers a potent blend of 9 health products—a multivitamin, minerals, probiotics, adaptogens and more—working together to help you feel like your healthiest self. For more information visit AthleticGreens.com/Scoop

Full-service crypto platform Abra announced plans in September to establish the first fully regulated bank for digital assets in the U.S.Abra Bank is expected to go live in early 2023 and it will enable U.S. citizens to deposit their digital assets in a U.S.-regulated manner similar to traditional banking.In this episode of The Scoop, Abra Co-Founder and CEO Bill Barhydt explains the advantage crypto banks have over traditional banks and how Abra Bank will enable fully regulated, interest-bearing accounts in the U.S.Whereas traditional banking services are available only during specific hours, Abra Bank will allow customers to interact with their assets at any point in time.“We fundamentally believe in this mantra of ‘not your keys, not your crypto.’ The irony of that in running a bank is not lost on me, but the point is that we are 100% committed to saying, ‘Okay, if it's your stuff and you want to move it to a Trezor or Ledger on Sunday at 2 a.m., please do it right now’” said Barhydt.In addition to giving customers full control over their assets at any point in time, the fact that Abra Bank will be a U.S. state-charted institution means that it will be able to provide interest-bearing accounts. According to Barhydt,“Abra Boost, which is going to be our new offering for paying interest going forward, will be for accredited users, and then the goal is to make it available to retail once the bank fully launches.”Episode 107 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Abra Co-Founder & CEO, Bill Barhydt.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Earlier this year, Binance.US became the first U.S.-based exchange to cut bitcoin trading fees to zero.Since the announcement, Binance.US has consistently ranked in the top three of North America-based exchanges by volume, according to data from The Block.In this episode of The Scoop, Binance.US CEO Brian Shroder examines how Binance.US is attempting to distinguish itself from the competition, including the impact cutting bitcoin trading fees had on bringing in new business.According to Shroder, the decision to cut bitcoin trading fees revolved around wanting to make the bitcoin purchasing experience as consumer friendly as possible:“Our goal was to be able to say very concretely that if you buy bitcoin on any other exchange, you are paying substantially more — without question.”In addition to appealing to retail investors, cutting bitcoin trading fees also brought in a record amount of new institutional business. As Shroder explains,“Being able to go to institutions and almost literally have a pitch which is: ‘You have a fiduciary responsibility to your investor-base to use Binance.US because it is free … ’ After the announcement, we had our best month ever in terms of institutional signups.”Episode 106 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Binance.US President & CEO Brian Shroder.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] episode is brought to you by our sponsor Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

A project called ‘HomeCoin’ is tapping into the trillion dollar real estate industry with a mortgage-backed stablecoin called $HOME.In this episode of The Scoop, HomeCoin Founder Karl Jacob unpacks the mechanics behind HomeCoin’s mortgage-backed stablecoin, and shares why he believes the best way to move the real estate industry on-chain is incrementally over time.According to Jacobs, $HOME is over-collateralized by mortgages and yield is paid to holders of $HOME from payments made on those mortgages:”Unlike other stablecoins, where the return is fueled by marketing dollars and a whole bunch of other things and things going to the moon, these are actually real payments from real people on houses that exist in the real world.”While Jacob sees room for HomeCoin to expand to other types of loans such as car loans or loans against commercial equipment, he doesn’t think tokenizing actual real estate is an effective strategy: “The reality is we've got a $13 trillion industry that isn't on-chain, and how can we move to a world where part of it is on-chain and slowly eat that world, versus trying to swallow it whole — which is basically what those guys are trying to do.”Episode 105 of Season 4 of The Scoop was recorded at SALT NY 2022 with The Block's Frank Chaparro, HomeCoin Co-Founder Karl Jacob.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsor Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Volt Capital announced in May the launch of its second fund — with backing from the likes of Andreessen Howoritz's Chris Dixon and Marc Andreessen — and despite the ongoing bear market for digital assets, founder Soona Amhaz says there's an opportunity to invest in a new wave of entrepreneurs. Following the launch of a wide range of marketplaces tied to non-fungible tokens and decentralized finance, Amhaz said she is setting her sights on projects and companies that solve the problems facing such organizations, including the breaches and security issues that hang over the space like a cloud. "A trend I'm seeing is second order thinking to primitives that were finally established," Amhaz noted. "So one anecdote of this is just being able to move NFTs between buyers and sellers: having marketplaces established was a huge win for the space this most recent cycle. But now we're already seeing a wave of founders who are building with this second order thinking of, 'Okay, now that NFTs are here and now that we have NFT marketplaces, how are we preventing fraud? How are we thinking about security? How are we thinking about content moderation?'"Indeed, Volt's strategy reflects a shift among venture capitalists in the market more generally, who are now focusing on infrastructure plays rather than token deals. "You're now building where there is demand," she said. "If you look at where the center of gravity is right now for crypto, because retail has largely evaporated… the center of gravity really and the attention and the spotlight are on other founders who are building crypto startups, they're on builders that need developer tools to enhance the DX or developer experience."Episode 104 of Season 4 of The Scoop was recorded at Circle's Converge in San Francisco with The Block's Frank Chaparro and Volt Capital Managing Partner Soona Amhaz.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord | About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In a market known for mantras such as "irresponsibly long," Joe McCann has been taking a more prudent approach to crypto venture capital investing. The former head of systematic and algorithmic trading at Passport Capital launched his latest venture, Asymmetric, in the spring of last year and started deploying capital this past summer in the wake of the Three Arrows Capital meltdown. On this episode of The Scoop, McCann explained that his firm's approach to venture capital investing in crypto means it will take money off the table and hedge its exposure. "The liquid nature of crypto, especially at the early stage, is actually a feature, not a bug of crypto, but you actually need to know how to manage a liquid portfolio," McCann said. "So if you have 150 vol asset in your portfolio, you may want to manage that, right?"Indeed, McCann said traditional venture investors don't have experience with the necessary trading tools — such as derivatives and other financial contracts — to hedge risk in liquid assets, which cryptocurrencies inherently are relative to early-stage startup equity. This difference is a major impediment to VCs operating in crypto, according to McCann."There is a fragile reputation that a lot of folks in the industry may have concerned with, 'hey, I'm going to invest in this startup and we're in it for the long haul, and we're not going to ever take profits or sell the token,'" McCann said. "The problem with that is that's great for traditional venture capital, where typically you don't have a liquidity event for 10 to 12 years ... with crypto, we know that it becomes liquid in months. So the way that you manage a traditional venture capital portfolio isn't relevant anymore — you're actually managing a liquid portfolio."Episode 103 of Season 4 of The Scoop was recorded at Converge in San Francisco with The Block's Frank Chaparro and Asymmetric Founder and CEO/CIO Joe McCann.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors Tron, LednAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

In September, North Island Ventures launched a new $125 million fund to invest in emerging crypto and Web3 companies.In this episode of The Scoop, North Island Ventures Managing Partner Travis Scher unpacks the thesis behind the new fund and explains his firm’s vision for how the crypto industry will evolve over the next couple of decades.According to Scher, the tribalism that currently pits enthusiasts of competing blockchains against each other will fade over time:“I do not think there will be one blockchain to rule them all. I think that when we look back in ten years, we will think that the tribal battles among branded blockchains that we see playing out at conferences like this were really quite silly.”One corner of the market North Island is focusing on in particular is the Cosmos ecosystem, as Cosmos’ interoperable network of blockchains aligns with North Island’s long-term view of the crypto market.As Scher explains, North Island envisions crypto evolving into a seamless network of blockchains:“When we set our thesis in 2020, we said, ‘We believe, in its end state, crypto is an interoperable network of networks that facilitates the seamless exchange of value and data all across the world.”Episode 102 of Season 4 of The Scoop was recorded at Messari Mainnet 2022 with The Block's Frank Chaparro and North Island Ventures Managing Partner Travis Scher.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |About LednLedn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io

Back in July, controversy broke out amongst Bitcoiners when Nic Carter — a long-time bitcoin proponent and Founding Partner of Castle Island Ventures — announced that his firm invested in a Web3 authentication company.Even though Castle Island recently launched a $250 million fund explicitly for Web3 investments, Carter’s announcement was met with staunch criticism from some members of the Bitcoin community.In this episode of The Scoop, Nic Carter and host Frank Chaparro discuss some of the philosophical underpinnings of the crypto space, including the similarities between Bitcoin maximalism and religious dogma.Although Carter himself is a vocal supporter of Bitcoin, he does not elevate it to anything beyond a monetary innovation — this, Carter says, is what separates him from the more zealous members of the community:“The one part of the community I distance myself from is the part that confuses bitcoin with religious doctrine. I think religion is religion, money is money, and they're pretty distinct, and they should stay distinct.The day after the controversy broke out on Twitter, Carter addressed the situation in a Medium article titled, ‘Setting the record straight; or: a eulogy for Bitcoin maximalism.’In it, he writes:"I am not pessimistic on Bitcoin. I’m just interested in the world as it actually is, instead of the world of utopias and pleasant delusions."Episode 101 of Season 4 of The Scoop was recorded at Converge22 with The Block's Frank Chaparro and Castle Island Ventures Founding Partner Nic Carter.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

After a tumultuous first half of the year, the crypto lending market is maturing, according to Ledn Co-Founder and CSO Mauricio Di Bartolomeo.In this episode of The Scoop, Bartolomeo shares his insider perspective on the state of crypto lending, including what types of lending he believes involves the least amount of risk.According to Bartolomeo, the liquidity crisis following the collapse of Three Arrows Capital earlier this year has the surviving lenders thinking more seriously about risk management: “Right now there is a huge focus on risk management — everybody is tightening up their covenants, everybody is trying to ensure that this doesn't happen again — and I think that has brought the space to a more balanced equilibrium.”Out of the various sources of demand for crypto loans, Bartolomeo believes delta-neutral market makers provide some of the best opportunities, given such market making strategies do not rely on the market moving in a particular direction:“The entities that performed the best typically were these high-quality market makers that take non-directional positions… that is the type of activity that we think is best suited to minimize risk.”One sign of increasing market maker activity, Bartolomeo explains, is the tightening of average spread on exchanges:“Today what you are seeing is that the average spread in most exchanges is getting tighter and tighter and tighter and tighter, and I think this is an expression of how many market makers are now coming in to narrow those gaps.”Episode 100 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Ledn Co-Founder and CSO Mauricio Di Bartolomeo.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

BlockTower yesterday unveiled a new $150 million fund, which has been operating in stealth since December of last year.BlockTower also announced a new venture arm, which complements the firm’s long-biased flagship fund, market-neutral fund and credit strategies.In this episode of The Scoop, Thomas Klocanas, BlockTower general partner and the new head of ventures, explains how BlockTower’s new venture fund synergizes with the firm’s existing strategies, and how this is advantageous for early-stage crypto projects.According to Klocanas, BlockTower’s four strategies collectively have more utility than a single specialized fund could have on its own:"If you're a DeFi protocol at seed stage, one of the first things you're calling your investors to solve for following your seed round is how do you bootstrap liquidity?… The benefit within BlockTower, our market-neutral fund, that's a big part of their mandate, that's a big part of how they generate yields — so there are obvious synergies where we can pipe that in.”Given this interoperability between the different facets of the business, Klocanas believes his new fund is more aptly referred to as a "strategic" fund:“We're not just a venture fund, we’re a ‘strategic.’ When folks say ‘strategic,’ they typically think of Coinbase’s investment arm or Gemini’s investment arm, but really I think that category is a little wider, and BlockTower is strategic in that we have multiple funds and strategies that can not just be an investor, but a user of your platform.”For Klocanas, of all the crypto industry's subsectors, “the highest conviction theme right now is definitely credit.”Given the amount of re-hypothecation in crypto that was exposed earlier this year, Klocanas believes there are clear advantages to decentralized lending:“There is a benefit to lending through a smart contract in that in the pecking order, if you're lending with something that has claims on collateral with code, you're going to get paid. Episode 99 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and BlockTower General Partner & Head of Venture, Thomas Klocanas.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

In August, it was reported that asset management firm Brevan Howard raised over $1 billion to invest in the crypto industry.In this episode of The Scoop, Bevan Howard’s Co-Heads of Ventures Peter Johnson and Colleen Sullivan break down their investment thesis and explain what segments of the crypto market they believe are seeing the most interest from existing brands.While traditional financial institutions are slowly moving their way into the crypto ecosystem, Sullivan points out that many traditional brands have already fully entered crypto via NFTs, metaverse experiences, and gaming:“Look at Goldman, JPMorgan, Citi, they're all involved in crypto to a certain extent — not to the degree we would have thought — but the institutions that are here are the Gucci's, the Nike's, the Tiffany's, the Dolce and Gabbana, Balmain, Balenciaga.”Blockchain gaming is one subset of the crypto market that Brevan Howard has recently been allocating to; just last week the firm co-led a $40 million Series A for Web3 gaming startup Horizon Blockchain Games.Outside of gaming, the digital asset opportunities Brevan Howard is looking to invest in relate to practical use cases. As Johnson explains,“What we're really excited about right now is moving beyond just speculative trading and where are the real world use cases that we're seeing crypto start to gain adoption.”Episode 98 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Brevan Howard Co-Heads of Ventures Peter Johnson and Colleen Sullivan.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

The cameras have been rolling over at Coinbase, CEO Brian Armstrong revealed last Friday, when he announced the release of Coin: A Founder’s Story — a feature-length film over three years in the making.In this episode of The Scoop, Brian Armstrong sits down with host Frank Chaparro to share his thoughts on Coinbase’s new film, including his take on how some of the thornier moments of Coinbase’s history are portrayed. As Armstrong explains, he decided to produce the $2 million film because he wanted to “demystify” the ups and downs of taking a company public:“I decided to make this film because I wanted to tell the story of what it really is like to create a tech company — all the way from being on your laptop and writing the first few lines of code, to going and becoming a public company.”The film candidly portrays highlights, such as the moments before Coinbase’s public listing, as well as controversies, such as Armstrong declining to answer a question about the BLM movement at a company all-hands meeting, as well as Coinbase’s controversial acquisition of Neutrino — a market intelligence firm with members linked to selling spyware to countries like Saudi Arabia, Sudan and Venezuela. Ten-time Emmy-award-winning producer Greg Kohs had full creative control over Coin, and Armstrong himself “didn't have the ability to change anything.” With that being said, Armstrong thinks Kohs accurately represented Coinbase’s story, and he’s happy with how it turned out:“He did show people who disagree with us, people who thought that we had made mistakes, but I actually thought it was a very fair take — and so I'm happy with how it turned out.”Episode 97 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Coinbase CEO Brian Armstrong.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

In July, Bored Ape Yacht Club creator Yuga Labs partnered with Improbable — a British company building a network of virtual worlds — to bring to life Yuga’s metaverse project known as ‘Otherside.’In this episode of The Scoop, Improbable’s Founders CEO Herman Narula and Chief Product Officer Rob Whitehead explain how they believe the metaverse creates value, and why developing entirely new experiences is crucial for success.According to Narula, nothing 'metaverse' related will be able to retain value without authentic engagement:“I think what we're always forgetting is it doesn't matter if we're talking about the price of land, the price of an avatar skin, the price of any digital asset; if there's no underlying usage, if there's no underlying people actually doing something because it's fun and fulfilling, none of that can hold value.”Instead of simply trying to recreate the physical world in digital form, Narula thinks metaverse experiences need to be entirely new:“Just porting over a PC or console game has almost never worked on mobile. I think metaverse expenses are like that: you've got to develop new stuff.”For example, “an ad as a billboard is trying to take the real world constraints and apply it to a virtual space,” Whitehead explains, “An ad could be teleporting you to a completely different experience.…”Episode 96 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Improbable's Founders CEO Herman Narula & Chief Product Officer Rob Whitehead.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsors TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |

TBD, the crypto focused arm of Jack Dorsey’s Block, is partnering with Circle, the company behind the USDC stablecoin, to unleash the power of stablecoin payments onto the next billion crypto users. In this episode of The Scoop, Circle’s Chief Revenue Officer Kash Razzaghi and TBD’s Chief Operating Officer Emily Chiu discuss their new partnership, and explain how their companies’ synergy is going to make it easier to move value back and forth between crypto and the real world economy. According to Chiu, the crypto industry is lacking a way to exchange crypto for real world items:“The minute you nexus upon the real world and commerce in the real world, you need to solve these really hard problems that haven't yet been solved in the space. That's what TBDex does, and we see USDC and stablecoins as a critical bridge for facilitating these transactions.”One of the first use-cases will be a remittance function that enables payments between the US and Mexico, a corridor that sees billions flow a year. TBD hopes its digital identity solution will put users in control of both their identity and data as well as who they share it with. As Chiu explains, these digital identity solutions will hopefully promote global economic empowerment: “Regardless of what identity you have, you can create a self-sovereign identity wallet regardless of who you are, there's no intermediary and you need permission from in order to start transacting and engaging with the global economy.Episode 95 of Season 4 of The Scoop was recorded at live at Converge with The Block's Frank Chaparro, Circle's CRO Kash Razzaghi and TBD's Co-Founder & COO Emily Chiu.Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] episode is brought to you by our sponsor TronAbout TronTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |