Wyatt sits down with Luke Xie, cofounder of SatLayer for a conversation about Bitcoin yield. In this episode: 

• What makes financial markets for BTC unique
• How BTC DeFi will evolve, in the backdrop of the broader macro environment
• DeFi vs CeFi financial systems for BTC

Check out this episode!

Matt and Nic return for another week of news and deals. In this episode:

• We review the DAT fine print
• Why being in power is sometimes the hardest part
• Stripe and Circle announce their own L1s
• We make the case for stablecoin L1s 
• The irony in Stripe’s L1
• What about a DAT of DATs? 
• Bullish goes public
• Breakfast cereals
• Do Kwon pleads guilty
• BPI sends a letter to Congress complaining about stablecoin interest
• Can you prohibit stablecoin yield? 
• Bo Hines steps down
• Bessent says the USG will not be buying Bitcoin
• Is monero being 51% attacked? 

Content mentioned:

• BitMEX Research, Treasury Company Advisory Agreements
• Julie Hill, Governmental Debanking

Check out this episode!

We sit down with Huf Haus, founder of Pear Protocol. In this episode: 

• What pair trading is, the benefits of Pear trading, and different strategies
• How to approach different market regimes from a trader’s perspective
• Applying trading strategies to other asset classes

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Nathan McCauley, the founder and CEO of Anchorage joins the show. In this episode we discuss:

• The passage of The Genius Act and the impact it will have on the digital asset industry.
• The launch of Anchorage’s white label stablecoin issuance platform.
• Anchorage Prime and how the company is working with its customers on trade execution, lending and custody.
• The status of the market structure bill.
• The Roman Storm case.

To learn more about Anchorage visit their website. Follow Nathan on X.

See also:

• OTB 595: Nathan McCauley on the evolving banking and custody landscape 

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Matt and Nic are back for another week of news and deals. In this episode:

• What’s wrong with NYC?
• China bans Bitcoin for the 15th time
• Is China really lauching an RMB stablecoin?
• We dissect the Trump debanking EO
• OpenAI releases GPT5
• SEC: Liquid staking tokens are not securities
• Roman Storm is found guilty on one of three counts
• Hester Peirce’s speech on financial privacy
• How should we solve debanking?
• Will stablecoins replace bank wires?
• Is AI going to reveal the identity of Satoshi

Further reading:

• Hester Peirce, Peanut Butter & Watermelon: Financial Privacy in the Digital Age
• Nic on Substack, The Last Word on Stablecoins and Free Banking

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Maple Finance CEO and cofounder Sid Powell joins the show to talk about Maple’s huge year so far. In this episode: 

• Syrup and Maple’s evolution into an on-chain asset manager
• Traditional credit players servicing on-chain finance
• DeFi’s strengths and weaknesses relative to traditional markets

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Matt and Nic are back for another week of news and deals. In this episode:

• The White House publishes their highly awaited crypto report
• SEC Chair Paul Atkins makes a landmark speech
• Stablecoin-focused L1s
• DAT mNAV premia are converging to 1
• Figma IPO
• The SEC embraces tokenized securities, airdrops, token issuance, and DeFi
• In-kind create and redeem has been authorized for Bitcoin ETFs
• JPM deepens their partnership with Coinbase 
• Roman Storm verdict is imminent 

Further reading:

• Blockworks’ DAT Dashboard
• Omid Malekan and Zach Pandl, Stablecoins and the Singleness of Money
• White House, Strengthening American Leadership in Digital Financial Technology
• Paul Atkins, American Leadership in the Digital Finance Revolution
• Nic Carter, The Last Word on Stablecoins and Free Banking

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Wyatt sits down with Michael Bentley, the founder of Euler. In this episode: 

• Euler’s founding story, infamous security incident, and comeback story
• How the team and protocol stayed together in the face of immense challenges
• The value of personal relationships in crypto despite a pseudonymous culture

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Matt and Nic are back with another week of news and deals. In this episode: 

• Defending “Free Banking” from the critics – and why stablecoins are unlike free banks
• The American Bankers Association doesn’t like new crypto charters
• Tether CEO Paolo Ardoino announces the company’s plan to launch a new US-based stablecoin this year
• Strategy announced the plans for the fourth preferred stock offering this week, STRC, or “Stretch.”
• Anchorage Digital, which does hold an OCC banking charter, is launching a new stablecoin issuance platform. The first stablecoin product will be USDtb in partnership with Ethena Labs
• The Senate Banking Committee released their discussion draft for crypto market structure legislation this week, designed to build off the House’s passage of the CLARITY Act last week
• Citadel Securities has expressed concern around the rise of tokenized securities
• Bhutan’s Bitcoin trade
• BitGo, a crypto custody provider, and Bullish, a crypto exchange, both announced that they had confidentially filed an S-1

Further reading:

• Wired, The Great Crypto Re-Banking Has Begun
• Galaxy Digital, Crypto Policy Under Trump: H1 2025 Report

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Cyrus Shirazi, CEO of Haven joins the show. In this episode: 

• R&D tax credits and offering an attractive tax product to early stage companies
• What on-chain finance needs to fulfill becoming a better ledger for accounting
• What startups should look for in a tax & accounting partner

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Matt and Nic are back for another week of news and deals. In this episode: 

• The Coldplay concert incident
• It’s Crypto Week in Washington
• Talos acquires Coin Metrics
• Do you need an MTL to run a fantasy football league?
• GENIUS Act is law pending Trump’s signature
• Clarity Act passes the House
• Pump.fun ICO
• Fairshake raises $141m
• Grayscale is preparing for an IPO
• Adam Back’s Bitcoin access vehicle
• Polymarket beats the allegations
• Is GENIUS creating a narrow bank system? 
• Governor Waller’s comments on stablecoins and banks

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Wyatt sits down with Nikhil Raghuveera of Predicate to talk policy for blockchain applications. In this episode: 

• How Predicate’s “rules for blockchain transactions” are making on-chain finance more scalable and secure
• Creating more compliant stablecoin transfer systems suitable to mass financial use cases
• The future of secure money movement
• How leading software and financial firms can integrate transaction policies in their workflows

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Matt and Nic are back for another week of news and deals. In this episode: 

• Bitcoin hits a new ATH and no one is talking about it
• Grok goes haywire
• The White House posts chudjak
• Core Weave looks to buy Core Scientific
• Stablecoins are going to pay yield anyway
• Did Zelenskyy wear a suit?
• How should prediction markets be settled?
• Pump.fun ICO is coming up
• Hester Peirce issues a warning on tokenized securities
• Crypto Week in Congress is coming up
• Jonathan Gould has been confirmed as Comptroller of the Currency
• There are new public access vehicles
• Andreessen wants you to leave Delaware
• A fundamental valuation model for L1s?
• GMX is hacked for $42m 
• Tim Massad’s exchange with Bernie Moreno

Content mentioned in this episode:

• Hester Peirce, Enchanting, but Not Magical: A Statement on the Tokenization of Securities
• Fidelity, Blockchains as emerging economies
• Bridge, How Meow and Bridge Make USDC Payments as Seamless as Cash
   

Check out this episode!

Zac Townsend, the founder and CEO of Meanwhile, joins the show. In this episode we discuss:

• Zac’s background and the path that led him to start Meanwhile.
• The mechanics of Bitcoin denominated life insurance.
• How Meanwhile generates Bitcoin yield.
• Zac’s views on the evolution of Bitcoin treasury companies.

To learn more about Meanwhile visit meanwhile.bm

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Charles Hamel, Product Director at Opera’s MiniPay, joins the show. In this episode: 

• Stablecoin habits in emerging markets
• Prospects for local stablecoins
• What’s next on the stablecoin horizon

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Matt and Nic are back for another week of news and deals. In this episode: 

• EthCC troubles 
• Robinhood has been shipping
• Figma owns BTC 
• The House GOP has declared “crypto week” in July
• Circle and Ripple are applying for bank charters 
• AI companies are buying Bitcoin miners
• Sharia finance
• The BBB passes 
• America teeters towards default
• The Sohan Parekh fiasco
• How do tokenized stocks work? 
• Another architect of OCP2.0 bites the dust
• Is AI going to usher in a socialist revolution? 
• Ric Edelman wants you to buy crypto 
• Franklin Templeton is worried about bitcoin treasury companies 
• No crypto language was included in the BBB

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Chris Maurice, founder of Yellow Card, a pan-Africa stablecoin business and exchange, rejoins the show. In this episode:

• How Chris feels about the crypto space in 2025 as compared to when he started a decade ago
• How Yellow Card evolved from being a retail BTC exchange to being an enterprise payment platform for stablecoins
• How Chris realized that stablecoins were all about b2b transfers
• How businesses in EM use stablecoins, and what the alternatives are
• Regional differences within Africa in terms of stablecoin adoption
• Shifting regulatory attitudes in Africa
• Does Chris worry about crypto-dollarization in Africa?
• Is dollarization happening on the ground right now
• Tether and TRON market share developments
• Where we are in stablecoin infra and tooling and what needs to be built
• Why we need a stablecoin clearinghouse
• The future of Yellow Card a few years ahead
• How banks will engage with stablecoins

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Wyatt sits down with Bernando Bilotta, founder of Stables.money. In this episode: 

• Stablecoin usage in APAC, for saving, spending, and beyond
• Retail adoption that bleeds into institutional adoption
• The forward-looking path for stablecoin finance

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Matt and Nic are back for another week of news and deals. In this episode: 

• Golden age of prediction markets
• NYC mayor’s election
• What’s happening with Canton?
• The FHFA says crypto can be a qualifying asset for mortages
• Our thoughts on the market structure bill
• The significance of the Fiserv stablecoin pilot
• $500m public access vehicle for BNB
• The Fed drops reputational risk in bank supervision
• EO for debanking is rumored
• Kraken HQ is moving to Wyoming
• Texas buys Bitcoin
• Will banking hours be obsolete? 

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Josh Frank, the founder and CEO of The Tie joins the show. In this episode we discuss:

• The origin story behind The Tie and how Josh approached founding the business.
• The digital asset data market.
• How sentiment data has evolved in the digital asset industry.
• The buy-side landscape for digital assets and how Josh sees that evolving in the coming years.
• The Canton Network and how The Tie is working with this new protocol.

To learn more about The Tie visit their website. 

Check out this episode!