The AllinCrypto Podcast

Circle debated building its own blockchain for more than four years before it built Arc. Gagan Mac, VP Product at Circle, explains why Arc is designed as an economic operating system for the internet, and why stablecoins could give anyone online the same access to a wallet, a currency and global assets. Then the conversation turns to AI, and why trust may become the real bottleneck when intelligence becomes a commodity. • Why institutions kept asking who the validators are, and how known validators, dollar-based gas and SLAs answer them • Arc as a liquidity hub: growing USDC across all chains instead of pulling traffic from Ethereum or Solana • The Arc token: minted but not launched, meant for network coordination and governance • Beyond the dollar: about 15 stablecoins from 15 countries on Arc, plus an on-chain FX market • Why the real retail question is whether crypto can grow your savings, not whether it can buy you a coffee • Post-quantum cryptography, and blockchains as an audit trail for what AI agents do

Binance was hit by what was called the biggest hack in internet history, and Bitcoin fell only about 6%. What does that resilience say about who holds crypto now, and how close are crypto-native instruments to becoming regulated products for everyday investors? Jasmin Muelhaupt is Head of Product at 21shares. The conversation opens with the US midterms and whether they threaten crypto and AI, then turns to market health amid AI bubble fears and why crypto held up after the Binance hack. Jasmin breaks down how the 21shares Anthropic pre-IPO ETP works, built on Binance perpetual futures, a Kaiko reference rate and hedging by parent company FalconX, and why liquidity limits what can be tokenized or productized. It also covers options and Derive, Polymarket, Venice AI and the crypto x AI theme, institutional adoption beyond Bitcoin, DeFi risk and expectations for 2027.

For years, tokenization inside banks was stuck in pilots that never shipped. Ami Ben David, Founder & CEO of Ownera, explains why that is changing, why the real gatekeeper is the bank's risk department and not the technology, and why he thinks the long-term future is public chains. • From Spice VC to Securitize: tokenizing a fund in the ICO era, and why it's okay to be early as long as you're not too early • FinP2P and Ownera routers: an open off-chain protocol that connects banks peer-to-peer, with no blockchain or crypto network in the middle • Bringing the cost of connecting two institutions from $1-5 million and 9-15 months down to zero integration cost • Need-to-know privacy, why regulated tokens can be frozen, and transparency for the people who need to see it rather than the whole world • A tokenized collateral sandbox built with GDF, connecting about 50 financial institutions across multiple chains • Multichain liquidity, public versus private chains, and the road out of 'POC Purgatory' to production in 2026 and scaling in 2027

What happens when a public company's treasury doesn't just hold tokens, but puts them to work? With over 14 million AVAX staked for native yield and operating businesses built around the network, this conversation tests whether the 'DAT 2.0' label is more than a rebrand. Pete Wylie joins the conversation as interim CEO. The conversation unpacks the 'DAT 2.0' model: a Nasdaq-traded digital asset treasury that holds over 14 million AVAX, stakes it for native yield and, following the MicroStrategy playbook, pairs it with operating businesses that benefit from the Avalanche network. It covers why Avalanche's mix of private and public data appeals to financial institutions, how staking rewards are reinvested, and how existing Bitcoin mining sites are being tested for AI inference. It also weighs how early on-chain adoption still is, DeFi's rough run since the October drawdown, and why AI agents may need fast, low-cost payment rails. Pete explains: ■ Why staking AVAX for about 5.5% native yield works much like depositing funds at a bank ■ What separates a 'DAT 2.0' from a Bitcoin treasury: yield plus connected operating businesses ■ How excess power at the Redwater Bitcoin mining site is being piloted for AI inference ■ Why the next wave of adoption is expected to be institutionally driven, and why that may be healthier ■ Why AI agents need low-cost, fast, frictionless payment rails, and why crypto plus AI agents is called a gold mine

Is the traditional tech stack already at its breaking point? From AI-driven hacking to drones hitting data centers, this conversation makes the case for tamper-proof, unstoppable code and a serverless cloud built the internet way. Dominic Williams is the Founder of the DFINITY Foundation. • From Smart Drives in the late 1990s and the 2014 Pebble paper to the Internet Computer as a world computer • AIware and agentic infrastructure: Multidex, an exchange coded by AI, and a chat-based app builder that has created over 100,000 apps • Why today's stack breaks, and how Byzantine fault tolerance offers a mathematical guarantee instead • Cloud Engines for sovereign clouds, OpenSaaS and verifiable AI inference for open-weights models • Why ICP is misunderstood in Web3, and why many networks' validators sit on two or three hyperscaler clouds • The 10-year goal: a growing share of a cloud market predicted to reach $2 trillion a year by 2030