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 ExodusBakkt® 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 informationAbout KrakenWhether 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 ExodusExodus 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. OUTLINE00:00 Introduction01:11 Sponsor break02:04 Memes taking the spotlight06:40 Crypto’s adolescent stage11:29 Common misconceptions about crypto18:50 Assessing value in the crypto space23:00 Are we still early?29:37 The future of crypto 34:50 Where are the liquid funds?41:30 Tradfi will eventually come45:04 ConclusionGUEST LINKSJeff Dorman - https://www.linkedin.com/in/jeff-dorman-cfa-61063129Jeff Dorman on X - https://x.com/jdorman81Arca - https://x.com/arcaArca 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.OUTLINE00:00 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 ConclusionGUEST LINKSAya Kantorovich - https://www.linkedin.com/in/ayakantorovich/Aya Kantorovich on X - https://x.com/aya_kantorAugust - 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.OUTLINE00:00 Introduction01:52 Lightspark's mission and Bitcoin's Role04:39 Challenges in scaling Bitcoin09:44 Lightspark's evolution16:10 Stablecoins x Bitcoin21:27 Stablecoin improvements over traditional payments27:20 Past regulatory challenges30:23 Changing regulatory climate35:19 Future outlook41:37 ConclusionGUEST LINKSDavid Marcus - https://www.linkedin.com/in/dmarcus/David Marcus on X - https://x.com/davidmarcusLightspark - 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.OUTLINE00:00 Introduction 03:02 The Challenge of Blockchain Data Management08:47 Multi-Chain Data Complexity and Solutions14:13 Standardizing and Simplifying Blockchain Data19:57 Institutional Challenges 23:13 Stablecoins, RWAs, and Data Demands28:25 Public Blockchain Data and Practical Use Cases32:23 Supporting Multiple Blockchains 35:11 AI's Role in Blockchain Data Integration38:16 Advice for Developers and Businesses43:23 ConclusionGUEST LINKSJesse 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_HQAWS - 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.OUTLINE00:00 Introduction and Super Bowl Recap02:13 Crypto Policy and Political Dynamics07:11 Identity Politics and Crypto Perception10:18 Democrats' Missteps and Voter Alienation12:40 Speed of Policy Changes and Potential Risks15:27 Fraud in Government Agencies17:19 Congressional Oversight and Budget Issues20:32 Ensuring Long-Term Crypto Regulation22:33 Promises to the Crypto Industry25:46 Malice in Crypto Regulation?28:11 Stablecoin Legislation30:29 Closing Remarks and FarewellsGUEST LINKSRep. Tom Emmer - https://emmer.house.gov/Rep. Tom Emmer on X - https://x.com/tomemmerGOP 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.OUTLINE00:00 Introduction and Quick Node's Journey03:14 Trends in Blockchain and Enterprise Adoption07:38 Financial Institutions and Blockchain Scaling12:54 Developer Activity Surge on Solana and Base18:11 Emerging Ecosystems and Quick Node's Focus21:30 Future Plans and Tokenization of Real-World Assets25:38 Conclusion and FarewellsGUEST LINKSJosh Neuroth - https://www.linkedin.com/in/joshneuroth/Josh Neuroth on X - https://x.com/EastofETHQuickNode - 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 Introduction1:39 Powell’s crypto remarks3:02 Custodia and the Fed7:19 Trump’s crypto executive order8:34 Banks’ path to crypto custody12:12 12 month forecast17:51 State of crypto banking24:34 The Crypto Vote30:15 Trump’s meme coin32:50 Privatising fed wire38:40 Crypto in Wyoming41:25 Closing thoughtsGUEST LINKSCaitlin 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 ConclusionGUEST LINKSTony Fenner-Leitão - https://www.linkedin.com/in/tonyfennerleitao/Cambrian Asset Management - https://www.cambrianasset.com/Cambrian Asset Management on X - https://x.com/CambrianAssetThis episode is brought to you by our sponsor: PolkadotPolkadot 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 ConclusionGUEST LINKSJason Zhao - https://www.linkedin.com/in/jasonjinzhao/Jason Zhao on X - https://x.com/jasonjzhaoStory 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.OUTLINE00:00 Introduction02:43 Bullish vs Bearish narratives06:23 Improving regulatory environment09:24 This ain’t mania14:54 Competent credit offering  18:55 The necessary infrastructure 24:04 Capitalising on future growth33:35 Good tech solutions will win35:19 ConclusionGUEST LINKSDavid Mercer - https://www.linkedin.com/in/mercerdavid/David Mercer on X - https://x.com/mercerdavidLMAX 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. OUTLINE00:00 Introduction01:39 Crypto as an institutional asset11:47 Crypto market idiosyncrasies18:20 Opportunities in 202522:28 Application in 202525:59 Anti-VC backlash30:37 Customer acquisition35:36 Closing thoughtsGUEST LINKSTom Schmidt - https://www.linkedin.com/in/tomhschmidt/Tom Schmidt on X - https://x.com/tomhschmidtDragonfly - 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.OUTLINE00:00 End-of-Year drawdown5:56 Memes vs fundamentals08:25 Importance of community11:47 Shifting investment landscapes14:34 AI x Blockchain18:54 Newsroom expectations for 202523:48 Telegram games and improving UX26:37 Standing out in the market34:19 2025 expectations41:50 Microstrategy’s Bitcoin bet47:30 AGI & Quantum attacks on encryption48:29 ConclusionGUEST LINKSForest Bai - https://x.com/ForestBai1Larry Cermak - https://x.com/lawmasterTim Copeland - https://x.com/TimccopelandThis episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 - Introduction and Hemi overview03:17  - The endangered Bitcoin maximalist05:33 - Proof of proof 10:01 - Lessons from testnet13:32 - ETH vs. Bitcoin in the multi-chain future 19:05 - Envisioning the multi-chain future24:14 - Darwinian trial by fire33:34 - Main net plans and closing remarksGUEST LINKSJeff Garzik - https://www.linkedin.com/in/jeffgarzik/Jeff Garzik on X - https://x.com/jgarzikHemi Labs - https://x.com/hemi_xyzHemi Labs on X - https://hemi.xyz/This episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 – 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 shifts37:42 - ConclusionGUEST LINKSEdan Yago - https://www.linkedin.com/in/edanyago/Edan Yago on X - https://x.com/edanyagoBitcoinOS - https://www.bitcoinos.build/BitcoinOS on X - https://x.com/BTC_OSThis episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 Introduction04:48 How Meanwhile works10:33 Role of insurance in the Bitcoin economy14:09 Charting new territory16:38 Bitcoin vs dollar-denominated insurance20:32 Approaching new customers24:10 Zac’s background26:23 Looking forward30:04 ConclusionGUEST LINKSZac Townsend - https://www.linkedin.com/in/zactownsend/Zac Townsend on X - https://x.com/ztownsendMeanwhile - https://meanwhile.bm/Meanwhile on X - https://x.com/meanwhilelifeThis episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 Introduction01:16 Intro to Arch 03:15 Shifting collateral standards 07:33 The state of crypto credit12:48 New administration, new regulation14:35 Debanking and Barron Trump17:41 Arch’s global expansion19:29 Encounters with Voyager and Celsius20:47 ConclusionGUEST LINKSHimanshu Sahay - https://www.linkedin.com/in/himanshusahay/Himanshu Sahay on X - https://x.com/hhsahayArch - https://archlending.com/Arch on X - https://x.com/ArchLendingThis episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 Introduction00:36 RockawayX03:38 Tech and investment in Europe07:11 Post-election investment09:19 DeFi rally11:58 Crypto credit17:56 Standing out to investors 21:24 Value-add investor25:32 The race to the bottom27:52 ConclusionGUEST LINKSSamantha Bohbot - https://www.linkedin.com/in/samantha-bohbot-7622b933/Samantha Bohbot on X - https://x.com/samantha_bohbotRockawayX - https://www.linkedin.com/company/rockawayx/RockawayX on X - https://rockawayx.com/This episode is brought to you by our sponsor: PolkadotPolkadot 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.OUTLINE00:00 Introduction01:21 Enclave Markets04:12 The Enclave experience05:53 Crypto capital markets 06:57 The maturing crypto market08:54 Inefficient markets10:01 New products and strategies12:42 Concluding thoughtsGUEST LINKSDavid Wells - https://www.linkedin.com/in/david-wells-12792413/David Wells on X - https://x.com/wellsda2Enclave Markets - https://www.enclave.market/Enclave Markets on X - https://x.com/enclavemarketsThis episode is brought to you by our sponsor: PolkadotPolkadot 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 ThoughtsGUEST LINKS Bill Barhydt - https://www.linkedin.com/in/billbar/Bill Barhydt on X - https://x.com/billbarXAbra - https://www.abra.com/Abra on X - https://x.com/abraglobalThis episode is brought to you by our sponsor: PolkadotPolkadot is the blockspace ecosystem for boundless innovation. To discover more, head to polkadot.network