The Scoop

On this episode of The Scoop, Bittrex Global CEO Stephen Stonberg joined host Frank Chaparro for a discussion on Bittrex’s US and global businesses, his outlook on security tokens, and how the company is tackling regulatory tightening in an effort to safely enter markets across the world. In its global business, Stonberg said that Bittrex is testing out lending and staking products as well as dipping its toes into STOs or Security Token Offerings, such as in real estate, stocks, cars, etc. Bittrex test-launched a limited number of what Stonberg termed ‘unsolicited ETFs’ like "Google tokenized and Tesla tokenized" which they are currently only selling to a small subset of clients via their Bermuda license. As the market matures and investors eventually look for yield in alternative products outside of utility tokens, Bittrex is positioning itself to capture that market share. “I would expect that as utility tokens become a more mature market, that you won't see those types of returns," said Stonberg. Stonberg views real estate on the blockchain as one of the use cases that will reshape the industry. In fact, Bittrex is exploring the potential of STO-based tokens, such as in real estate as well as possibly art and IPOs, as Stonberg suggested. “I really think that you're going to see everything being tokenized. Why should we not have real estate tokenized? Like, why should if you're IPOing a company, why does it have to be an IPO? Why can't it be in the venture stage?” As for where competitors are in the adoption cycle, Stonberg added: "Right now, we're in the fund build phase where the regulators haven't caught on yet." However, he did not comment on whether Bittrex has plans at this time to fundraise or enter public markets. Episode 56 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Stephen Stonberg, CEO at Bittrex Global. 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 podcast@theblockcrypto.com. This episode is brought to you by our sponsors Bakkt, Kraken, and Exodus Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.   Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.   Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.

The Scoop's host, Frank Chaparro, was joined by Arca CIO Jeff Dorman. In this episode, Chaparro and Dorman discussed the disconnect between market sentiment and the developments in the crypto space. Dorman goes over the actual use cases of the crypto ecosystem and how they are being drowned out by memecoins and scandals, highlighting that big outside players are beginning to get on board. OUTLINE 00:00 Introduction 01:11 Sponsor break 02:04 Memes taking the spotlight 06:40 Crypto’s adolescent stage 11:29 Common misconceptions about crypto 18:50 Assessing value in the crypto space 23:00 Are we still early? 29:37 The future of crypto 34:50 Where are the liquid funds? 41:30 Tradfi will eventually come 45:04 Conclusion GUEST LINKS Jeff Dorman - https://www.linkedin.com/in/jeff-dorman-cfa-61063129 Jeff Dorman on X - https://x.com/jdorman81 Arca - https://x.com/arca Arca on X - https://www.ar.ca/

The Scoop's host, Frank Chaparro, was joined by August Co-Founder and CEO Aya Kantorovich. In this episode, Chaparro and Kantorovich went over the state of crypto capital markets, the resilience of DeFi during market downturns, and how banks are looking to get started in DeFi. OUTLINE 00:00 Introduction  01:08 From banking to crypto  02:30 Why institutions avoid DeFi  05:33 How institutions impact volatility  10:50 Crypto as the weekend market  17:00 Bitcoin as a reserve asset  20:01 Cambrian explosion of memecoins  26:28 Coinbase earnings  31:42 The resiliency of deFi  37:49 AI Agents  42:00 Conclusion GUEST LINKS Aya Kantorovich - https://www.linkedin.com/in/ayakantorovich/ Aya Kantorovich on X - https://x.com/aya_kantor August - https://www.augustdigital.io/ August on X - https://x.com/august_digital

The Scoop's host, Frank Chaparro, was joined by Lightspark Co-Founder and CEO David Marcus. In this episode, Chaparro and Marcus discuss the vision and technology behind scaling Bitcoin as a global payment network. Marcus explained how new developments, including stablecoins on Bitcoin, could transform worldwide financial systems and directly lead to an increase of GDP. OUTLINE 00:00 Introduction 01:52 Lightspark's mission and Bitcoin's Role 04:39 Challenges in scaling Bitcoin 09:44 Lightspark's evolution 16:10 Stablecoins x Bitcoin 21:27 Stablecoin improvements over traditional payments 27:20 Past regulatory challenges 30:23 Changing regulatory climate 35:19 Future outlook 41:37 Conclusion GUEST LINKS David Marcus - https://www.linkedin.com/in/dmarcus/ David Marcus on X - https://x.com/davidmarcus Lightspark - https://www.lightspark.com/ Lightspark on X - https://x.com/Lightspark

The Scoop's host, Frank Chaparro, was joined by SonarX Founder Patrick Kim, SonarX Global Head of BD Jesse Bornstein, and Senior Web 3 Specialist at AWS, Everton Fraga. In this episode, Chaparro, Bornstein, Fraga and Kim discussed the challenges of managing and consuming the exponential growth of blockchain data across multiple chains. Patrick, Jesse, and Everton explained how the proliferation of blockchains has led to a big data problem with petabytes of data that is difficult for enterprises to fully utilize, and what solutions there are to these issues. OUTLINE 00:00 Introduction 03:02 The Challenge of Blockchain Data Management 08:47 Multi-Chain Data Complexity and Solutions 14:13 Standardizing and Simplifying Blockchain Data 19:57 Institutional Challenges 23:13 Stablecoins, RWAs, and Data Demands 28:25 Public Blockchain Data and Practical Use Cases 32:23 Supporting Multiple Blockchains 35:11 AI's Role in Blockchain Data Integration 38:16 Advice for Developers and Businesses 43:23 Conclusion GUEST LINKS Jesse Bornstein - https://www.linkedin.com/in/jesse-bornstein-10a774a/ Everton Fraga - https://www.linkedin.com/in/evertonfraga/ Patrick Kim - https://www.linkedin.com/in/patrickkim/ SonarX - https://www.sonarx.com/ SonarX on X - https://x.com/SonarX_HQ AWS - https://aws.amazon.com/

The Scoop's host, Frank Chaparro, was joined by Congressman and House Majority Whip Tom Emmer. In this episode, Chaparro and Emmer discussed President Trump's first weeks in office, the Democrat's missteps with voters in general and on crypto, and alleged waste and fraud in government spending. OUTLINE 00:00 Introduction and Super Bowl Recap 02:13 Crypto Policy and Political Dynamics 07:11 Identity Politics and Crypto Perception 10:18 Democrats' Missteps and Voter Alienation 12:40 Speed of Policy Changes and Potential Risks 15:27 Fraud in Government Agencies 17:19 Congressional Oversight and Budget Issues 20:32 Ensuring Long-Term Crypto Regulation 22:33 Promises to the Crypto Industry 25:46 Malice in Crypto Regulation? 28:11 Stablecoin Legislation 30:29 Closing Remarks and Farewells GUEST LINKS Rep. Tom Emmer - https://emmer.house.gov/ Rep. Tom Emmer on X - https://x.com/tomemmer GOP Majority Whip on X - https://x.com/GOPMajorityWhip

The Scoop's host, Frank Chaparro, was joined by VP of Product at QuickNode, Josh Neuroth. In this episode, Chaparro and Neuroth explored the rapid growth and increased adoption of blockchain by traditional financial institutions. They also unpacked QuickNode’s role in providing high-performance infrastructure to support both emerging blockchain projects and enterprise adoption. OUTLINE 00:00 Introduction and Quick Node's Journey 03:14 Trends in Blockchain and Enterprise Adoption 07:38 Financial Institutions and Blockchain Scaling 12:54 Developer Activity Surge on Solana and Base 18:11 Emerging Ecosystems and Quick Node's Focus 21:30 Future Plans and Tokenization of Real-World Assets 25:38 Conclusion and Farewells GUEST LINKS Josh Neuroth - https://www.linkedin.com/in/joshneuroth/ Josh Neuroth on X - https://x.com/EastofETH QuickNode - https://www.quicknode.com/ QuickNode on X - https://x.com/QuickNode

The Scoop's host, Frank Chaparro, was joined by Custodia Bank Founder and CEO Caitlin Long. In this episode, Chaparro and Long discussed the state of crypto banking, the potential restructuring of regulations under the Trump administration, and the Federal Reserve's stance on crypto. OUTLINE 00:00 Introduction 1:39 Powell’s crypto remarks 3:02 Custodia and the Fed 7:19 Trump’s crypto executive order 8:34 Banks’ path to crypto custody 12:12 12 month forecast 17:51 State of crypto banking 24:34 The Crypto Vote 30:15 Trump’s meme coin 32:50 Privatising fed wire 38:40 Crypto in Wyoming 41:25 Closing thoughts GUEST LINKS Caitlin Long - https://www.linkedin.com/in/caitlin-long-/ Caitlin Long on X - https://x.com/CaitlinLong_ Custodia Bank - https://custodiabank.com/ Custodia Bank on X - https://x.com/CustodiaBank

The Scoop's host, Frank Chaparro, was joined by Cambrian Asset Management President Tony Fenner-Leitão. In this episode, Chaparro and Fenner-Leitão discussed his firm's approach to the crypto market, which involves using machine learning and data-driven models. They also touched on the impact of increased institutional participation and regulatory changes in the crypto space and how these developments have affected the overall market dynamics. OUTLINE 00:00 Introduction 03:29 Lack of liquid participants 08:25 Cambrian’s perspective on the Trump meme coin 13:31 Shifting market dynamics 17:18 Regulatory changes 22:56 Cambrian’s requirements for entering a market 29:16 Active management vs VC allocation 35:39 Conclusion GUEST LINKS Tony Fenner-Leitão - https://www.linkedin.com/in/tonyfennerleitao/ Cambrian Asset Management - https://www.cambrianasset.com/ Cambrian Asset Management on X - https://x.com/CambrianAsset This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

The Scoop's host, Frank Chaparro, was joined by Story Protocol Co-Founder Jason Zhao. In this episode, Chaparro and Zhao discussed the inefficiencies and challenges in the current IP landscape, and how Story aims to address these by allowing creators to monetize and license their IP in a more open and efficient manner, especially in the context of the rise of AI. OUTLINE 00:00 Introduction 05:29 Philosophy meets Crypto 09:08 The world of intellectual property 12:49 The financialization of IP 16:55 AI and ownership of IP 20:20 Getting started with AI and IP 24:40 Standing out in a sea of Picassos 27:45 Gen AI platforms 31:49 Story Protocol looking ahead 34:03 Conclusion GUEST LINKS Jason Zhao - https://www.linkedin.com/in/jasonjinzhao/ Jason Zhao on X - https://x.com/jasonjzhao Story Protocol - https://www.story.foundation/ Story Protocol on X - https://x.com/StoryProtocol

The Scoop's host Frank Chaparro was joined by LMAX Group CEO David Mercer. In this episode, Chaparro and Mercer discussed the accelerating institutional adoption of crypto, with major banks entering the market and driving stability, maturity, and significant capital inflows. They also explored how improved interoperability between tradfi and crypto could increase adoption by enabling more seamless asset movement between the two ecosystems. OUTLINE 00:00 Introduction 02:43 Bullish vs Bearish narratives 06:23 Improving regulatory environment 09:24 This ain’t mania 14:54 Competent credit offering   18:55 The necessary infrastructure  24:04 Capitalising on future growth 33:35 Good tech solutions will win 35:19 Conclusion GUEST LINKS David Mercer - https://www.linkedin.com/in/mercerdavid/ David Mercer on X - https://x.com/mercerdavid LMAX Group - https://www.lmax.com/ LMAX Group on X - https://x.com/LMAX

The Scoop's host Frank Chaparro was joined by Dragonfly Partner Tom Schmidt. In this episode, Chaparro and Schmidt discussed the cryptocurrency market acting as an institutional asset class moving into 2025, and how this cycle has been different for venture captial operating within the space. OUTLINE 00:00 Introduction 01:39 Crypto as an institutional asset 11:47 Crypto market idiosyncrasies 18:20 Opportunities in 2025 22:28 Application in 2025 25:59 Anti-VC backlash 30:37 Customer acquisition 35:36 Closing thoughts GUEST LINKS Tom Schmidt - https://www.linkedin.com/in/tomhschmidt/ Tom Schmidt on X - https://x.com/tomhschmidt Dragonfly - https://www.dragonfly.xyz/ Dragonfly on X - https://x.com/dragonfly_xyz

The Scoop's host Frank Chaparro was joined by The Block's CEO Larry Cermak, Editor-in-Chief Tim Copeland, and Foresight Centures Co-Founder Forest Bai for a year-end special. In this episode, Chaparro, Copeland, Bai and Cermak covered a myriad of pertinent topics  in the crypto market, including the factors that lead to a successful ecosystem, underexposure to bitcoin relative to memecoins, AI, and what they both expect and hope to see in the year ahead. OUTLINE 00:00 End-of-Year drawdown 5:56 Memes vs fundamentals 08:25 Importance of community 11:47 Shifting investment landscapes 14:34 AI x Blockchain 18:54 Newsroom expectations for 2025 23:48 Telegram games and improving UX 26:37 Standing out in the market 34:19 2025 expectations 41:50 Microstrategy’s Bitcoin bet 47:30 AGI & Quantum attacks on encryption 48:29 Conclusion GUEST LINKS Forest Bai - https://x.com/ForestBai1 Larry Cermak - https://x.com/lawmaster Tim Copeland - https://x.com/Timccopeland This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Jeff Garzik is the CEO of Hemi Labs, a modular Layer 2 protocol that integrates Bitcoin and Ethereum. In this episode, Garzik and The Block's Frank Chaparro discuss Hemi and its "proof-of-proof" security model, and Garzik shares his views on the future of multi-chain interoperability and the evolution of decentralized governance models. OUTLINE 00:00 - Introduction and Hemi overview 03:17  - The endangered Bitcoin maximalist 05:33 - Proof of proof  10:01 - Lessons from testnet 13:32 - ETH vs. Bitcoin in the multi-chain future  19:05 - Envisioning the multi-chain future 24:14 - Darwinian trial by fire 33:34 - Main net plans and closing remarks GUEST LINKS Jeff Garzik - https://www.linkedin.com/in/jeffgarzik/ Jeff Garzik on X - https://x.com/jgarzik Hemi Labs - https://x.com/hemi_xyz Hemi Labs on X - https://hemi.xyz/ This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Edan Yago is the co-founder and CEO of BitcoinOS, a Layer 2 platform and "operating system" for Bitcoin. In this episode, Yago and The Block's Frank Chaparro discuss BitcoinOS and how Bitcoin can evolve from being just “digital gold” into a fully programmable, global ledger for ownership and financial innovation. OUTLINE 00:00 – Introduction
 02:17 – Bitcoin and digital property rights
 04:40 – Bitcoin’s spirit of innovation
 08:17– Bitcoin smart contracts vs. rival chains 
 15:29 – Bitcoin DeFi’s value add
 20:44 – Solving scalability
 25:12 – Bitcoin, AI, and the next Trillion in assets
 28:28 – The next five years
 35:07 – Short term shifts 37:42 - Conclusion GUEST LINKS Edan Yago - https://www.linkedin.com/in/edanyago/ Edan Yago on X - https://x.com/edanyago BitcoinOS - https://www.bitcoinos.build/ BitcoinOS on X - https://x.com/BTC_OS This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Zachary Townsend is the co-founder and CEO of Meanwhile, a life insurance company for the crypto economy. In this episode, Townsend and The Block's Frank Chaparro discuss Meanwhile's model of Bitcoin-denominated life insurance and the advantages of this approach vs. traditional dollar-denominated insurance policies, such as protection against inflation and the ability to borrow against the policy's value tax-free. OUTLINE 00:00 Introduction 04:48 How Meanwhile works 10:33 Role of insurance in the Bitcoin economy 14:09 Charting new territory 16:38 Bitcoin vs dollar-denominated insurance 20:32 Approaching new customers 24:10 Zac’s background 26:23 Looking forward 30:04 Conclusion GUEST LINKS Zac Townsend - https://www.linkedin.com/in/zactownsend/ Zac Townsend on X - https://x.com/ztownsend Meanwhile - https://meanwhile.bm/ Meanwhile on X - https://x.com/meanwhilelife This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Himanshu Sahay is the Co-Founder and CTO of Arch. In this episode recorded live at Emergence in Prague, Sahay and The Block's Frank Chaparro discuss the evolution of crypto lending after the 2022 market turmoil and Arch's approach to expansion and collateral. OUTLINE 00:00 Introduction 01:16 Intro to Arch  03:15 Shifting collateral standards  07:33 The state of crypto credit 12:48 New administration, new regulation 14:35 Debanking and Barron Trump 17:41 Arch’s global expansion 19:29 Encounters with Voyager and Celsius 20:47 Conclusion GUEST LINKS Himanshu Sahay - https://www.linkedin.com/in/himanshusahay/ Himanshu Sahay on X - https://x.com/hhsahay Arch - https://archlending.com/ Arch on X - https://x.com/ArchLending This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Samantha Bohbot is the Chief Growth Officer & Partner of RockawayX, a blockchain-focused venture capital fund. In this episode recorded live at Emergence in Prague, Bohbot and The Block's Frank Chaparro discuss discuss challenges facing European firms compared to their American counterparts, and RockawayX's credit fund and developing opportunities in DeFi. OUTLINE 00:00 Introduction 00:36 RockawayX 03:38 Tech and investment in Europe 07:11 Post-election investment 09:19 DeFi rally 11:58 Crypto credit 17:56 Standing out to investors 21:24 Value-add investor 25:32 The race to the bottom 27:52 Conclusion GUEST LINKS Samantha Bohbot - https://www.linkedin.com/in/samantha-bohbot-7622b933/ Samantha Bohbot on X - https://x.com/samantha_bohbot RockawayX - https://www.linkedin.com/company/rockawayx/ RockawayX on X - https://rockawayx.com/ This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

David Wells is the founder and CEO of Enclave Markets, an institutional-grade digital asset trading platform that bills itself as the first Fully Encrypted Exchange (FEX). In this episode recorded live at Emergence in Prague, Wells and Chaparro discuss Enclave's model, the maturing crypto market and the potential for more sophisticated trading strategies and liquidity. OUTLINE 00:00 Introduction 01:21 Enclave Markets 04:12 The Enclave experience 05:53 Crypto capital markets 06:57 The maturing crypto market 08:54 Inefficient markets 10:01 New products and strategies 12:42 Concluding thoughts GUEST LINKS David Wells - https://www.linkedin.com/in/david-wells-12792413/ David Wells on X - https://x.com/wellsda2 Enclave Markets - https://www.enclave.market/ Enclave Markets on X - https://x.com/enclavemarkets This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network

Bill Barhydt is the founder and CEO of Abra, a global platform for digital asset prime services and wealth management. In this episode recorded live at Emergence, Barhydt and Chaparro discuss how building a successful crypto businesses requires careful navigation of complex legal and regulatory hurdles, and how this process might change under the upcoming Trump administration. OUTLINE 00:00 Introduction 01:57 Building in Crypto 05:38 Abra's Pivots 09:48 Surviving FTX 14:18 Abra's Future Strategy 16:26 Regulation & Innovation 20:32 Closing Thoughts GUEST LINKS Bill Barhydt - https://www.linkedin.com/in/billbar/ Bill Barhydt on X - https://x.com/billbarX Abra - https://www.abra.com/ Abra on X - https://x.com/abraglobal This episode is brought to you by our sponsor: Polkadot Polkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network