Public Key

Wall Street is buzzing with tons of digital asset acronyms like DLT, CBDCs, RWA and Bitcoin ETFs. But what does it all mean? Well, Ian Andrews (CMO, Chainalysis) sits down with Naresh Nagia (Independent Senior Advisor, Deloitte) for a thoughtful conversation on everything tokenization and how it will disrupt the traditional financial banking system.  Naresh shares his expertise in financial services and highlights the potential benefits of DLT, such as operational efficiency and the ability to mobilize collateral.  He also discusses the importance of legal basis, KYC/AML regulations, and cybersecurity in the adoption of DLT and the implementation of smart contracts into the financial ecosystem. Naresh expresses his preference for wholesale CBDC over retail CBDC and emphasizes the significance of Project Agora which is a major project launched by the Bank for International Settlements (BIS) for central banks worldwide to explore tokenization of cross-border payments Minute-by-minute episode breakdown 2 | The role of an Independent Senior Advisor at Deloitte and bridging traditional finance and the future of Distributed Ledger Technology (DLT)  5 | Envisioning DLT disrupting the traditional financial systems 10 | Smart Contracts are neither smart or contracts 14 | Decentralized Ledgers and Bitcoin ETFs: TradFi meets Crypto 17 | Project Agora: How the Bank for International Settlements is pioneering trust in blockchain technology for cross border payments 20 | The future of stablecoins in global finance and debate over retail vs wholesale CBDCs 26 | The realistic applications of Real World Asset (RWA) Tokenization and what to look Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Blockchain & Digital Assets With Deloitte, Trust is non-fungible™ Report: Central Bank Digital Currencies: Building Block of the Future of Value Transfer Article: Tokenization in financial services: Embracing a new ecosystem Project: Project Agorá: Central Banks and banking sector embark on major project to explore tokenization of cross-border payments Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Report: The Chainalysis Crypto Spring Report (Download Now) YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Naresh Nagia (Independent Senior Advisor, Deloitte) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

“You might think it's risky now to enter crypto. But I can promise you that time is going to flip very quickly where it's going to be risky not to enter crypto” - Farzam Ehsani Capital controls and Government bans have always made launching a crypto exchange in Africa challenging and in this episode, Ian Andrews (CMO, Chainalysis) sits down with Farzam Ehsani (Co-founder and CEO, VALR), who discusses the journey of South Africa's largest cryptocurrency exchange,from the company's inception in 2018 to securing multiple global licenses. Farzam shares insights on financial sovereignty, regulatory challenges, and the evolving crypto landscape, while reflecting on transitioning from banking to crypto and underscores the importance of integrity and choice in finance. He announces The VALR Grand Slam trading competition, where there is a $60 Million USDT prize pool and  looks forward to  expanding VALR's global footprint and making cryptocurrencies more accessible through innovative financial solutions. Minute-by-minute episode breakdown 2 | Farzam’s introduction to Bitcoin and how it helped him understand the traditional finance ecosystem   4 | The balance of self sovereignty and acting as a custodial crypto exchange  7 | How traditional banks decided to move into crypto and the launch of VALR crypto exchange 15 | The rigorous process of obtaining licenses in multiple jurisdictions and adhering to international regulatory requirements and capital controls 25 | Understanding whether VALR is appealing to retail or institutional clients or both  30 | Is VALR launching its own exchange token or security token? 33 | The challenges with listing tokens and keeping up with customer demand on memecoins   36 | VALR raises $50 million in Africa’s largest ever crypto raise and even turned away investors 38 | VALR announces $60 Million Grand Slam of Trading Competitions Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: VALR: Trade spot, margin, futures & OTC on the best crypto trading platform Video: Adopting Bitcoin Cape Town Conference (Farzam Ehsani "Truth" Talk) Article: Coindesk: The False Promise Blockchains Will Revolutionize Real-World Assets Blog: Exploring Crypto Adoption in Africa: Growth and Barriers Programme: VALR $60 Million Grand Slam of Trading Competitions Blog: Cryptocurrency Penetrates Key Markets in Sub-Saharan Africa as an Inflation Mitigation and Trading Vehicle Event: TraceDC (Early Bird Ticket Prices available until June 15, 2024) Blog: Introduction to Zero-Knowledge Proofs YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Farzam Ehsani (Co-founder and CEO, VALR) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

When we started this podcast just over 2 years ago, Bitcoin ordinals and inscriptions weren’t even born yet and centralized crypto exchanges releasing their own wallets sounded like fanciful thinking at best. But here we are as these new and evolving technologies are leading the evolution of Bitcoin and the cryptocurrency industry at large. In this episode, Ian Andrews (CMO, Chainalysis) sits down with Jason Lau (Chief Innovation Officer, OKX) who shares his insights and observations from his recent global tour, where he attended conferences in New York, Paris, Dubai, and Brazil. Jason highlights the growing momentum and enthusiasm in the crypto and Web3 space, as well as the importance of localizing products and services to cater to diverse user bases. Jason also discusses OK Group's focus on self-custody and the launch of their OKX wallet, which aims to empower users to explore the world of decentralized finance (DeFi). Additionally, he touches on OK Group's Layer 2 network (X Layer), their foray into inscriptions (NFTs on Bitcoin) with a new marketplace and their efforts to cater to institutional clients. Minute-by-minute episode breakdown 2 | Global crypto enthusiasm and regulatory conversations from NYC, Dubai and Brazil 4 | OK Groups International expansion and broad customer base   7 | Advancing transparency and self-custody in crypto exchanges and understanding the evolution of the proof of reserve audits  11 | Embracing Web3 through user-friendly crypto wallets and building a L2 blockchain (X Layer) 16 | The evolving role of crypto exchanges and the impact of DeFi Regulation 22 | Exploring the impact of inscriptions on the Bitcoin network and whether NFTs are Dead 25 | Innovating institutional crypto trading and custody solutions  28 | OKX's upcoming Web3 initiatives with McLaren F1 and Manchester City FC   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: OKX: Faster, better, stronger than your average crypto exchange Website: Ignite your creativity: X Layer is a ZK-powered layer 2 network Article: About inscriptions and how they're shaping Web3's growth Announcement: OKX has Teamed Up with McLaren Racing to Honor Senna's Legacy in Monaco Blog: Chainalysis in Action: Illicit Residential Proxy Service Shut Down by Law Enforcement, Three Administrators Sanctioned by OFAC Event: TraceDC (Early Bird Ticket Prices available until June 15, 2024) YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Jason Lau (Chief Innovation Officer, OKX) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

“We swore an oath to uphold the Constitution of the United States… But nowhere in there does it say, 'Oh, except for the internet. We can't go into the internet realm or the crypto realm.” - Tony Moore Cryptocurrency has always been unchartered territory for law enforcement all around the world, but the crypto-related crimes are too big to deny and in this episode, Ian Andrews (CMO, Chainalysis) sits down with Tony Moore (Deputy Sheriff, Los Angeles County Sheriff's Department) who has been teaching the law enforcement community about Bitcoin since the early days.   Tony shares his experiences investigating cases involving crypto, including social media parties, crypto ATM scams, pig butchering and SIM-swapping, while recognizing the challenges of staying ahead of criminals in the ever-evolving crypto landscape. He reinforces the importance of reporting crimes, the challenges of cross-jurisdictional investigations, and the future of blockchain and AI. Minute-by-minute episode breakdown 2 | Childhood dreams of Starsky & Hutch to joining Law Enforcement   4 | Tony Describes his path into teaching other LEAs about internet and then crypto crimes 6 | Cracking Down on social media-advertised Nitrous Oxide (NOS) parties 10 | Early encounters with crypto in Law Enforcement 15 | Balancing cryptocurrency ATM regulation and innovation  19 | Combating Sim-Swapping and Pig Butchering Scams while maintaining effective reporting 25 | Tackling crypto scams across jurisdictions and forging international policing partnerships  28 | Master cryptoverse policing in Tony’s new 5 day course 34 | Embracing continuous learning in AI and the evolving crypto landscape   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: The Los Angeles County Sheriff's Department Website: Internet Crime Complaint Center (IC3): Nation’s central hub for reporting cyber crime, run by the FBI Whitepaper: A Fistful of Bitcoins Characterizing Payments Among Men with No Names (Sarah Meiklejohn and others) Interview: In conversation with the world’s first and only standalone virtual assets regulator: Dubai’s Virtual Assets Regulatory Authority Blog: Crypto Mining Pools Overview: How They Work, Benefits, and Risks YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Tony Moore (Deputy Sheriff, Los Angeles County Sheriff's Department) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

Fresh off the stage of the Links Conference,  Ian Andrews (CMO, Chainalysis) speaks to Andrew Davis (General Counsel, Kivu Consulting), who presented in front of a packed house and shared insights about new ransomware strategies and how companies can better protect themselves. Andrew discusses the evolving landscape of ransomware attacks and the challenges faced by victim organizations when deciding whether or not to make payment. He shares the wide spectrum of new typologies, including  cyber extortion and data theft and how the major exploits of pharmacy payment processors and oil pipelines has attracted law enforcement to take swift action against ransomware groups. Andrew also highlights the most common attack vectors and social engineering attack vectors, while presenting the new challenges that AI will have on deep fakes and image/video modifications used by ransomware attackers.  Minute-by-minute episode breakdown 2 | Overflowing Interest in Cybersecurity at Chainalysis Links Conference 2024   4 | Rise in cyber extortion and data theft and strategies for handling ransomware attacks 8 | Negotiating ransomware demands and law enforcement dynamics  12 | Strategies and sanctions risks in ransomware payment decisions 17 | Ransomware attack disrupts major pharmacy companies, oil pipelines and casinos 21 | Debating the ban on ransomware payments and understanding Initial Access Brokers (IACs) 23 | The perils of reused passwords, account breaches and sophisticated fake recruiting attack vectors 28 | The evolving threat of AI and its role in sophisticated ransom attacks Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Kivu: We fight cybercrime. We protect humanity Article: Can Organizations Still Pay Ransomware Demands? Article: Emerging Threat Alert: Drive-By-Compromise On The Rise As Gootloader Malware Exploits Seo Poisoning To Target Victims Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog:  Understanding Crypto Drainers Blog: Ransomware Payments Exceed $1 Billion in 2023, Hitting Record High After 2022 Decline YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Andrew Davis (General Counsel, Kivu Consulting) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

"In a way, if you were a juror on this case, you got educated on cryptocurrency, terrorist financing, and also the Syrian Civil War." - Edward Burns In this episode, Ian Andrews (CMO, Chainalysis) has a full house as he speaks to several key members of the Manhattan District Attorney's Office, including the District Attorney, Alvin Bragg, the Assistant District Attorney, Edward Burns and the Chief of the Counterterrorism Unit, David Stuart.  As well as Dan Heesemann, Intelligence Research Specialist at the NYPD. The team discusses a fascinating case involving cryptocurrency and terrorism financing and shares how they were able to uncover an individual sending money to a terrorist group in Syria and planning violent attacks on American soil. They walk through the challenges of presenting technical evidence in court and the surprising defense strategy used by the defendant. This gripping episode sheds light on the intersection of crime, cryptocurrency, and counterterrorism efforts and the persistence and collaboration law enforcement and the District Attorney’s office have to utilize in order to bring these criminals to justice.  Minute-by-minute episode breakdown 2 | Background of the public sector guests and their entrance into cryptocurrency     4 | The People  vs. Victoria Jacobs: The cryptocurrency terrorist financing case 9 | Unveiling the terrorist financier's intent and tactics 14 | The elusive Salman Belarusi: Operational security mastermind 18 | Simplifying cryptocurrency for jury understanding 20 | Terrorism, cryptocurrency and the Syrian Conflict 22 | Jury deliberates for hours and finds the defendant guilty on all counts  25 | Manhattan DA, Alvin Bragg explains provides an update on sentencing and closure in case Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Manhattan District Attorney's Office: One Standard of Justice for All Website: New York City Police Department (NYPD) is the largest and one of the oldest municipal police departments in the United States Press Release: Victoria Jacobs Sentenced To 18 Years In Prison For Using Cryptocurrency To Fund Syrian-Based Terrorist Groups; Launder Supporters’ Contributions Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Report -  Crypto Investigations: Blockchain Intelligence for Law Enforcement (Available Now) YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) Alvin Bragg (District Attorney, Manhattan District Attorney's Office) Edward Burns (Assistant District Attorney, Manhattan District Attorney's Office) David Stuart (Chief of the Counterterrorism Unit, Manhattan District Attorney's Office) Dan Heesemann (Intelligence Research Specialist, NYPD) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

"I'm not excited for what blockchain and DLTs can bring to the banking ecosystem, but I'm more excited to see how working on the same technology will bring together different market players." - Mico Curatolo  In this episode, Ian Andrews (CMO, Chainalysis) speaks to Mico Curatolo (Co-Head, DLT and Digital Assets Team) of Banca Sella, which is an established bank in Italy with a long history of innovation and cutting-edge technologies in the financial ecosystem. Mico discusses the bank's strategy around DLT and digital assets, including their focus on launching a proprietary retail custody solution. He explains the regulatory landscape with the implementation of MiCA and shares insights on the appetite for digital assets in Italy, the impact of the Bitcoin ETFs, and the future of stablecoins and CBDCs in Europe. Minute-by-minute episode breakdown 2 | Exploring Banca Sella's traditional  legacy and digital asset and open banking ventures    6 | The crypto and digital asset market and regulatory environment in Italy 8 | Banca Sella’s DLT, digital asset and custody strategy  11 | Dissecting Bitcoin ETFs, stablecoin regulations and the future of bank partnerships 16 | What the future of CBDCs in Europe will look like 18 | Embracing digital assets and collaborative innovation in Europe 20 | Working on cutting edge technology and collaboration of industry players    Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Banca Sella: 140 Years in Banking and Leading Innovation Website: Sellalab: Impact Innovation Platform for SMEs Article: Increasing the Focus on Trade-Based Money Laundering Article: Sella bank exposes itself to Web3 with a metaverse initiative Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog - How To Use Blockchain Intelligence To Investigate Crypto Crime YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Mico Curatolo (Co-Head, DLT and Digital Assets Team, Banca Sella) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

In this episode, Ian Andrews (CMO, Chainalysis) speaks to Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE), who is involved with investigations covering human and fentanyl trafficking, trade based money laundering and the movement of crypto in and out of the US.  They discuss the role of the newly created CITE agency in combating various threats, including terrorism, transnational organized crime, and illicit trade.  Michael also highlights the challenges of  the increasing use of cryptocurrency in criminal activities such as drug trafficking and human trafficking and the importance of collaboration between public and private sectors in addressing these challenges. Michael explains the importance of leveraging cryptocurrency analysis to support investigations and disrupt criminal networks by having a coordinated multi-agency approach. Minute-by-minute episode breakdown 2 | Introducing customs and border protection's intelligence arm   4 | Combating transnational threats with intelligence and cryptocurrency analysis  7 | Trade Based Money Laundering (TBML): From suitcases to thumb drives 10 | The rise of crypto in illicit precursor chemical sales and drug trafficking 13 | Collection of vast amounts of data to support other agency’s investigative efforts 16 | Global collaboration for the fight against crypto related crimes  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: U.S. Customs and Border Protection (CBP): Enhancing the nation’s security through innovation, intelligence, collaboration and trust. Article: America’s Front Line Against Fentanyl Article: Increasing the Focus on Trade-Based Money Laundering Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: Crypto and the Opioid Crisis: What Blockchain Analysis Reveals About Global Fentanyl Sales [UPDATED 3/7/24] Article: Emirates NBD welcomes Chainalysis to Digital Asset Lab Council LinkedIn Post: Chainalysis is officially in 🇦🇪 Dubai! YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

"We need to think about more creative ways in order to get at the ultimate issue here, which is that they're generating revenue for their weapons of mass destruction (WMD) and ballistic missile programs." - Jessica Peck In this episode, Ian Andrews (CMO, Chainalysis) is lucky enough to grab Jessica Peck (Senior Counsel, US Department of Justice) and Chris Wong (Supervisory Special Agent, FBI) right off of the main stage to their experiences investigating North Korea's involvement in cryptocurrency and their efforts to track and seize stolen assets. Chris shares his journey from working on interdicting assets to diving into the world of crypto, while Jessica discusses her transition from prosecuting weapons and narcotics cases to focusing on cybercrime and cryptocurrency-related investigations. The trio explore the tactics used by North Korea to launder money and the effectiveness of sanctions in combating these activities.  They also describe the new trends of North Koreans being unknowingly hired by blockchain companies around the world and the associated risks.  Minute-by-minute episode breakdown 2 | FBI's Involvement in intercepting North Korean mineral exports  4 | Jessica and Chris’ background and their first crypto investigation cases  7 | Thwarting North Korean crypto revenue and tracking and recovering stolen cryptocurrency  11 | Tracing North Korea's cryptocurrency laundering efficacy 17 | Evaluating the effectiveness of sanctions on cryptocurrency mixers 19 | Debating cybersecurity and risk management in crypto  25 | North Koreans being employed by crypto firms to develop smart contracts  27 | Best practices for staying safe in crypto and avoiding costly hacks  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: FBI: We protect the American people and uphold the U.S. Constitution Website: DOJ: To uphold the rule of law, to keep our country safe, and to protect civil rights Article: FBI Identifies Lazarus Group Cyber Actors as Responsible for Theft of $41 Million from Stake.com Blog:  $30 Million Seized: How the Cryptocurrency Community Is Making It Difficult for North Korean Hackers To Profit Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: International Agencies Sanction Russian National Dmitry Yuryevich Khoroshev, Leader of Cybercrime Group LockBit, for Developing and Distributing Ransomware YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Jessica Peck (Senior Counsel, US Department of Justice) Chris Wong (Supervisory Special Agent, FBI) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.  

“I think what's interesting is there is a lot of regulation in the US. It's just not cohesive and specific to this space except for places like New York and soon to be California, Louisiana.” - Thom Hook  In this episode, Ian Andrews (CMO, Chainalysis) guest Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay) summed up in one sentence what the crypto regulatory framework is like in the USA and how its impacting crypto businesses and innovation as a whole. Thom goes on to discuss his experience working at Circle during the early days of crypto and the challenges of building a compliance program in a rapidly evolving industry. He provides insights into MoonPay's unique business model, which focuses on retail on and off-ramp services for cryptocurrencies and NFTs and their role as a noncustodial platform. He  also touches on topics such as banking relationships, regulatory frameworks, pig butchering and other scams in the industry and the new demand for crypto lawyers in the face of increasing regulatory pressure.   Minute-by-minute episode breakdown 2 | Thom’s story of building compliance programs from Joining Circle in 2014, transitioning to Bitstamp to landing at MoonPay 4 | MoonPay’s business model of not being a crypto exchange and making it easier for innovation to have payment rails  7 | Importance of compliance and transaction monitoring in obtaining and maintaining  banking relationships 12 |Differences in regulations between the US and other countries  15 | Importance of reputation and risk assessment for partner selection and key 17 | Key takeaways from the conference panel discussion with other compliance experts  19 | Using education to combat pig butchering scams and the impact of sanctions  22 | Teaching a class on crypto regulation and its focus on regulations that have the most impact 25 | Prediction of increased demand for crypto lawyers due to regulatory pressure and excitement for innovation and growth in the crypto industry in 2024 Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: MoonPay: Your gateway to Web3 - Experience the best of Web3 using MoonPay Blog: We’re live in Louisiana! MoonPay is back in business in the Bayou State Article: Crypto lawyers to be in demand as regulatory pressure reaches boiling point Blog:  Crypto On-Ramp: Boost your revenue with the world's #1 crypto on-ramp Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: Crypto Staking Overview: How It Works, Benefits, Risks, and Future YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.   

From the Bitlicense to OFAC Sanctions, Ian Andrews (CMO, Chainalysis) and guest Valerie-Leila Jaber (Global Head of Anti-Money Laundering, Coinbase) cover it all on this episode of Public Key. Valerie-Leila highlights the importance of compliance in the crypto industry and the impact of regulations, such as the Patriot Act, when it first came out and how they parallel the current regulatory landscape in crypto.  She provides insights into Coinbase's focus on setting global minimum standards and their involvement in initiatives like TRUST for Travel Rule compliance, BASE their layer 2 blockchain and their new wallet releases. Valerie also touches on the topics of sanctions, Coinbase's noncustodial wallet, and the company's role as custodian in the Bitcoin spot ETFs. Minute-by-minute episode breakdown 2 | Valerie's interest in crypto and experience in traditional finance  4 | Technology shifts and challenges in implementing AML regulations 7 | The variation in Crypto AML regulations across different countries 9 | Coinbase's involvement in the TRUST initiative and BASE, its Layer 2 blockchain   12 | The usefulness of receiving crypto addresses from OFAC for compliance purposes  15 | Discussion on the Coinbase Wallet and its position within the AML department   18 | The challenges and benefits of multiple state-level regulatory frameworks for crypto 20 | The role of Coinbase's compliance program in being selected as a custodian for many  ETFs  22 | Excitement for the year ahead in terms of legislation, market buoyancy, and international developments   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Coinbase is the safest place to buy, sell, and manage crypto. Blog: Coinbase obtains registration as a Restricted Dealer in Canada Blog: Evolving wallets to bring a billion users onchain Blog:  Momentous approvals: spot ETFs to usher in bitcoin’s next chapter and diversified long-term growth Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: OFAC and Department of State Sanction Nearly 300 Individuals and Entities Involved in Russia’s War Machine, One Known to Have Accepted Crypto YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Valerie-Leila Jaber (Global Head of Anti-Money Laundering, Coinbase) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

“They want to destroy as many of our systems and resources as they can get the access to." - Yevhenii In this episode Ian Andrews (CMO, Chainalysis) speaks to Yevhenii Panchenko (Head of Operational Analysis, Ukraine Cyberpolice Department. Yevhenii discusses the global fight against Russian cyber actors, who target not only Ukraine but also other countries and shares the work his organization is doing to combat cyber threats, including investigating crimes related to fraud, ransomware, and illegal content. He shares the challenges they face in stopping Russian organizations and the importance of international collaboration and volunteers in identifying fraud and scam projects. Yevhenii also announces their new project, SCAMFARI and how they use OSINT to identify crypto fraud and collect data and the impressive features of the DIIA City and the implementation of digital documents in Ukraine.  Minute-by-minute episode breakdown 2 | Discussion on the Ukraine Cyber Police mandate and global nature of cyber threats  5 | Describing Russian cyber attacks on Ukrainian infrastructure  8 | A day in the life of the Ukraine Cyber Police Unit 10 | Russian hackers using cryptocurrency to receive ransoms and evade sanctions  12 | Collaboration with US and  EU agencies and training on using Chainalysis  15 | Discussion on the effectiveness of sanctions on crypto flows  18 | What is Scamfari and how they use OSINT to identify crypto fraud and collect data 21 | Impressive features of the DIIA City and the implementation of digital documents  23 | Recommendations for supporting Ukraine, including cryptocurrency investigation skills  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Cyber Police of Ukraine is a law enforcement agency within the Ministry of Internal Affairs of Ukraine dedicated to combating cyber crime. Blog: Summary of Yevhenii Panchenko speech at Chainalysis Links Conference (NYC 2024) Article: Ukraine's cyber police talks crypto, ransomware and documenting war crimes after Russia's invasion Blog: SCAMFARI: This Ukrainian Startup Is Looking to Automate Crypto Crime Reporting Using Smart Contracts, AI Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: Crypto Staking Overview: How It Works, Benefits, Risks, and Future Blog - OFAC and Department of State Sanction Nearly 300 Individuals and Entities Involved in Russia’s War Machine, One Known to Have Accepted Crypto YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Yevhenii Panchenko (Head of Operational Analysis, Cyberpolice Department, National Police of Ukraine) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.  

"Compliance always needs to be improving.” - Noah  In this episode Ian Andrews (CMO, Chainalysis) speaks to Noah Perlman (Chief Compliance Officer, Binance), whose exchange was very focused on trading and users in the early days and now turning the  page to building out a robust Compliance program. Noah shares his journey from being a prosecutor at the US Attorney's Office, working at Morgan Stanley, to his current role at Binance.  He discusses the challenges and opportunities of working in compliance in the crypto industry, the importance of trust and transparency and the steps Binance is taking to improve its compliance program. Noah also talks about the collaboration between Binance and law enforcement agencies, the regulatory landscape in different countries, and his excitement for innovation and the future of centralized exchanges vs decentralized platforms.  Minute-by-minute episode breakdown 2 | Noah's transition from a prosecutor to Chief Compliance Officer at Binance  6 | Experience and cultural differences between TradFi and Crypto  9 | Importance of rebuilding trust in the crypto market and industry  12 | Impact of the settlement with the US government on Binance and Chief Compliance Officer role  15 | Collaboration with law enforcement and focus on rooting out bad actors  19 | Discussion on the future of crypto and the role of centralized exchanges 21 | Debate on the US government's approach to crypto regulation  25 | Excitement about innovating in compliance through technology and killer crypto use cases  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Binance: 188,487,264 Users Trust Us! Blog: Binance FZE Receives a VASP Licence from Dubai’s Virtual Assets Regulatory Authority Blog: Binance’s Proof-of-Reserves System: A Year of Upgrading User Assets Transparency Press Release: Statement Regarding Tigran Gambaryan Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!) Blog: London’s Metropolitan Police Lead Disruption of Phishing-as-a-Service Provider LabHost YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Noah Perlman (Chief Compliance Officer, Binance) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

What if there is a company that can detect web3 cyber attacks and hacks before they happen? In this episode Ian Andrews (CMO, Chainalysis) speaks to Gal Sagie, who is the Co-Founder and CEO of Hypernative, whose company is doing just that. Preventing malicious cyber threats aimed against the most important protocols and blockchains in the ecosystem, Gal showcases Hypernative’s end-to-end security and risk prevention platform and shares insights into the importance of security in driving wider adoption of blockchain technology.  He discusses how Hypernative's platform has successfully detected and prevented hacks and exploits in the industry and highlights the need for a comprehensive security approach beyond traditional smart contract audits and emphasizes the role of real-time monitoring and automated actions in mitigating risks. He also explains the accuracy of detection, the ease of onboarding and the need for his company to maintain low false positive alerts and the team’s focus to expand to more chains and protocols.  Minute-by-minute episode breakdown 2 | Overview of Hypernative and its mission in Web3 security 6 | Discussion on the importance of solving the security problem for wider adoption 10 | The speed of detection: 98% of attacks being detected 2 minutes or more before the first transaction 13 | Chainlink and other ideal users of Hypernative: protocols, chains and investors 16 | The focus on accuracy to minimize false positives and maintain trust  19 | The limitations of smart contract audits and the need for additional security measures  23 | The endless information available on the blockchain for security analysis and the goal to detect all potential risks with minimal effort from customers 27 |The importance of detecting and preventing attacks before any funds are lost  31 | Hypernative's roadmap for the year ahead and plans for expansion  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Hypernative: Institutional Grade  Web3 Security Twitter: Hypernative stops zero day cyber-attacks and economic risks Blog: Chainlink Labs and Hypernative Partner to Enhance Web3 Security Blog: Chainalysis Partners with Hypernative for Real-Time Security and Incident Response Press Release: ‘SEAL 911’ team of white hats formed to fight crypto hacks in real time Registration: Digital premiere of Links 2024 (NYC Main Stage Content - Register Now!) Blog: What You Need to Know About the Bitcoin Halving Podcast: Bitcoin Mining and Data Centre Innovations: Podcast Ep. 76 YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Gal Sagie (Co-Founder & CEO of Hypernative) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.  

It’s that time of year in the USA where the trees are blossoming, the winter jackets are being packed away for the season and there is only one thing on everyone’s mind. Taxes.   But how do you report DeFi transactions, crypto staking and lending and stablecoin purchases? Well Ian Andrews (CMO, Chainalysis) brings in crypto tax generalist, Lorenz Haselberger (Partner at Shearman & Sterling LLP) to dive deep into the most complex tax implications facing the crypto industry.  Lorenz unfolds the nuances of reporting taxes within the dynamic and evolving world of cryptocurrencies and shares his journey into the crypto tax niche and unwraps the critical aspects of current tax considerations. He discusses the tax challenges with DeFi protocols and underscores the  importance of understanding the tax implications for both individual and institutional investors and the need for the US Government to provide more clarity and guidance to the crypto industry  Minute-by-minute episode breakdown 2 | Lawrence's background in taxation and involvement in the crypto industry  6 | Discussion on the complexity of reporting obligations for exotic cases like crypto and DeFi lending  14 | Everything you need to know about staking and potential tax implications 22 | The debate on whether DeFi transactions should be treated as a taxable event 25 | The national and international tax implications for crypto investors vs traders 33 | Debate on expanding information reporting requirements for crypto  36 | Does tax complexity and uncertainty deter some from participating in crypto? 39 | Differentiating stablecoins from cryptocurrencies for tax purposes 42 | The evolution of DeFi protocols and need for Government guidance for crypto tax implications Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Shearman & Sterling: Forbes names senior partner, Adam Hakki to top 200 lawyers in USA Report: New York State Bar Association Tax Section On Crypto and Fungible Digital Assets Blog: Blockworks: US Treasury once again proposes new crypto tax rules to “modernize” code Blog: Intellectual Property Infringement: Crypto Used in Sales for Illicit Streaming Services and Counterfeit Pharmaceuticals Blog: What FATF’s Report on Recommendation 15 Means for Regulators & Private Sector Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Lorenz Haselberger (Partner, Shearman & Sterling LLP) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.  

"To really understand market integrity, you need to be able to monitor for market abuse and other forms of illicit finance, on and off-chain." This is a powerful statement from market manipulation, Chen Arad (Co-Founder & CXO, Solidus Labs), who speaks with  Ian Andrews (CMO, Chainalysis) about the heart of market surveillance and integrity in a wildly fluctuating digital asset market. Chen discusses the need for market surveillance to ensure fair and transparent trading and highlights the challenges of monitoring market manipulation and the significance of on-chain and off-chain data. Chen also highlights the prevalence of insider trading and wash trading in the crypto market and explores the future of the industry and the importance of building compliant and safe services. He provides insights on the crypto market's need for robust risk and compliance systems and the growing regulatory recognition of its importance, while revealing alarming statistics revealed in Solidus Labs' Market Manipulation Reports.  Minute-by-minute episode breakdown 2 | Chen Arad's background as a journalist and his path to working in crypto and launching Solidus Labs 7 | Understanding the concept of market surveillance and market integrity in crypto 12 | The approval of ETFs as a vindication for the necessity of market integrity in crypto  16 | The need for cross-market surveillance and integrity 22 | Real-time monitoring in crypto markets and importance of on-chain and off-chain data for market surveillance 28 | Insider trading and wash trading are more widespread than believed  35 | Unpacking the definition and mechanics of wash trading on decentralized liquidity pools 40 | Wash trading involving malicious smart contract scams and potential money laundering  44 | The importance of building compliantly and working with regulators  47 | Potential for cross-market surveillance and growth of on-chain market Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Solidus Labs: Safeguarding Your Crypto Business Reports:  The Crypto Market Manipulation Report:  Pt. 1 Insider Trading | Pt. 2 Wash Trading Blog: Future of Crypto in the UAE: Insights from Solidus Labs at iFX EXPO Dubai Blog: Combining On-Chain And Off-Chain Analysis: A Primer Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! Blog: Chainalysis In Action: Israeli Authorities Disrupt Hezbollah and Iran Quds Force Terrorism Financing Crypto Infrastructure, Seize $1.7 Million in First Blog: OFAC Sanctions Russia-based Blockchain Companies, Including Netex24 and Bitpapa, for Facilitating Sanctions Evasion Blog: OFAC and OFSI Sanction Social Media News Outlet Gaza Now for Hamas Fundraising in Wake of October 7 Attacks YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Chen Arad (Co-Founder & CXO, Solidus Labs) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

In this milestone 100th episode, host Ian Andrews (CMO, Chainalysis) takes a break from his usual role and hands the reins over to Kim Grauer (Director of Research, Chainalysis) to discuss the biggest themes and topics from the last 100 episodes. They reflect on the journey of the podcast, share behind-the-scenes insights, and discuss Ian's transition from the tech industry to the world of crypto and some of the challenges the industry still faces after 2 years of producing the podcast. Kim gets Ian to share some of the most impactful episodes, including discussions on pig butchering scams, market manipulation, and the future of DeFi.  Ian offers advice for marketers and shares his excitement for upcoming developments at Chainalysis, including the recent decision in the Bitcoin Fog case. Minute-by-minute episode breakdown (2:30) – Ian's background at Pivotal and decision to join Chainalysis  (9:15) – Ian's foundational technical knowledge and discovery of the global nature of crypto  (12:30) – The new role of Chief Marketing Officer and the early mandate to grow the company (14:21) – Ian highlights the pig butchering and market manipulation issue in crypto  (18:49) –Are the rules around accredited investors in the US protecting consumers or restricting them (22:00) – DeFi hacks, global crypto adoption and the impact of Bitcoin Spot ETFs (31:05) - Highlighting companies like Ironfish and Hypernative for their exciting innovation (34:25) - Marketing advice for companies to focus on storytelling rather than traditional marketing  (38:39) - Ian shares his favorite podcasts, including "Pivot," "Invest Like The Best," and "Lex Friedman" (40:25) - Public Key’s dream podcast guestlist is revealed: Fei-Fei Li, Vitalik Buterin, and Gary Gensler (42:03) - How to start your own podcast in 2024 (44:05) - What’s New For Chainalysis: The Bitcoin Fog Decision, NYC Links Conference and Huge Products being shipped in 2024 Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Chainalysis: Our annual Crypto Crime Report is back (Download It Today) Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! Blog: Asset Tokenization Explained: Benefits, Risks, and How It Can Work Blog: OFAC Sanctions Russian Nationals for Facilitating Disinformation on Behalf of the Government of Russia, Funds Frozen by Tether Podcast: Public Key - Ep. 59: Everything You Need to Know About APAC Crypto Regulations Podcast: Public Key - Ep. 70: Balancing Privacy and Regulatory Concerns in the Crypto Space Podcast: Public Key - Ep. 98: Best of Public Key’s Pig Butchering Discussions YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Kim Grauer (Director of Research, Chainalysis) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

With Bitcoin reaching all-time highs we thought it would be best for us to revisit one of our most downloaded episodes on Public Key discussing Crypto Market Manipulation, with former Flashpoint founder, Evan Kohlmann and Ian Andrews (CMO, Chainalysis).  Evan is now the Founder and CEO of Cloudburst Technologies, a company tasked with scraping the dark web to identify potential pump and dump schemes and the associated illicit actors.  In the episode recorded in February 2023, Evan explains the nuances of these targeted market manipulation attacks, who the orchestrators are, and the countries being targeted. He explains how his team’s technology can gather KYC information and shed some light on the extent these schemes have on the total illicit activity in the industry. Evan even records an update to this episode highlighting the sudden rise of crypto prices, what are the biggest market manipulation concerns for 2024 and new data that his team is seeing that the general public should be aware of. Minute-by-minute episode breakdown (2:27) – Understanding market manipulation in the crypto world and what Cloudburst Technologies is doing about it (4:35) – How to identify the illicit actors on dark web forums attempting to manipulate the markets (12:30) – How Evan got the name “The Terrorist Search Engine” and how he helped build up leading dark web intelligence firm, Flashpoint (15:21) – How millions of people in dark web forums and Telegram are organizing themselves to pump certain tokens 50% up to 500%  (20:49) – Applying Cloudburst technology to traditional commodity markets and large market cap tokens (28:00) – Are illicit actors targeting decentralized exchanges and protocols or just centralized exchanges (30:05) - How Cloudburst is able to identify KYC on illicit actors across the dark web using OSINT (33:25) - Where are illicit actors operating and the biggest market manipulation concerns for 2024 Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Cloudburst: Crypto is Risky, Invest in Intelligence  Report: Bankrolling Terror: Iran's Role in Fundraising and Recruiting for Hamas Post-10/7 Report: The Chainalysis 2024 Crypto Crime Report (Download Today) Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! Blog: 54% of ERC-20 Tokens Listed on DEXes in 2023 Display Patterns That May Be Suggestive of Pump and Dump Schemes, but Represent just 1.3% of DEX Trading Volume Blog: 2023 Cryptocurrency Gains by Country YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Evan Kohlmann (Founder and CEO, Cloudburst Technologies) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.  

This week we’ve got a special episode for you. Over the nearly two years since we started the podcast one of our most frequent topics has been the crypto romance / investment scam known as Pig Butchering.  In a Public Key first Ian Andrews (CMO, Chainalysis)  highlight impactful statements from past guests, including: Erin West, Alona Katz, Alastair McCready, Nicola Staub and Detective Matthew Hogan, who discuss the scam’s exponential growth has been, with Southeast Asia emerging as a hotbed for these criminal operations. The guests emphasize that these crimes are not isolated incidents but part of an organized crime network with ties to human trafficking and forced labor, generating billions in stolen funds annually. The group covers the basics of pig butchering, tactics used by international criminals, challenges in combating the crime and how collaboration and educational awareness are key solutions to preventing this complex crime. Alastair highlights the neglect by authorities in countries housing these pig butchering scam compounds, while the remaining guests explain how public private partnerships have been the key to info-sharing and collaboration of resources.  Minute-by-minute episode breakdown (2:15) - What Is Pig Butchering and how is it executed (8:20) - Detective engages with a pig butchering scammer to gather evidence (12:50) - Discussion on scammers using legitimate crypto exchanges and web wallets (16:50) - Human Trafficking victims forced to become scammers and heroic story of a victim's escape (21:21) - Southeast Asia a hotbed for pig butchering scammers  (27:50) - Limited resources of law enforcement and the collaboration of public and private sector (31:25) - REACT Task force formed to combat high tech crime including SIM Swapping and Pig Butchering  (36:38) - How are Bitcoin ATMs used to facilitate payment to scammers (39:25) - Erin West describes why the problem is getting worse and what we need to do to stop it Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Report: The Chainalysis 2024 Crypto Crime Report (Download Today) Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! Blog: The On-chain Footprint of Southeast Asia’s ‘Pig Butchering’ Compounds: Human Trafficking, Ransoms, and Hundreds of Millions Scammed Blog: Crypto and the Opioid Crisis: What Blockchain Analysis Reveals About Global Fentanyl Sales [UPDATED 3/7/24] Podcast: Ep. 19: Pig Butchering Crypto Scam: Crypto’s Emerging Human Trafficking And Romance Scam Industry Podcast: Ep. 45: How Law Enforcement is Combating Pig Butchering Crypto Scams Podcast: Ep. 72: Investigating the World of Pig Butchering And Crypto Scams Podcast: Ep.93: Stopping Pig Butchering and Crypto Scam Epidemic YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Alastair McCready (Producer, Al Jazeera Media Network) Erin West (Deputy District Attorney, Santa Clara County) Alona Katz (Chief, Brooklyn District Attorney's Office) Detective Matthew Hogan (Detective, Connecticut State Police) Nicola Staub (CEO, Co-Founder, CYBERA) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

The highly anticipated Chainalysis 2024 Crypto Crime Report is being downloaded worldwide and Ian Andrews (CMO, Chainalysis) speaks to the driving forces behind the report, Eric Jardine (Cybercrimes Research Lead, Chainalysis) and Kim Grauer (Director of Research, Chainalysis) to talk about what groundbreaking data they uncovered.  The trio dive into the most surprising and interesting trends discovered during their research, including the resurgence of Tornado Cash, the increase in ransomware attacks, the decline in stolen funds from crypto platforms and the use of stablecoins in illicit activities. Eric also goes in depth about the evolving landscape of Darknet markets and Kim highlights the prevalence of market manipulation and how more data is moving on-chain with respect to ransomware-as-a-service infrastructures.  The conversation also explores the impact of sanctions on crypto activities, the effectiveness of law enforcement interventions and the ongoing challenges in tracking and preventing scams in the cryptocurrency space. Minute-by-minute episode breakdown (1:35) - Surprising resurgence of Tornado Cash, record high ransomware payouts and hacking declining  (4:20) - Ransomware reaching an all-time high of over a billion dollars (12:50) - Dynamic ecosystem of ransomware actors and the adaptability of strains (18:50) - Debate on whether DeFi platforms are getting safer or if hacking them is becoming less lucrative (24:21) - Stablecoins now account for 60% of overall transactional activity but increased usage for illicit activity and sanctions evasion (27:50) - Discussion on the effectiveness of sanctions as a tool in the crypto world and the uptick in Tornado Cash usage (32:25) - Shifts and developments in the Darknet market ecosystem (37:38) - Market manipulation and pump and dump schemes on newly minted tokens   Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Report: The Chainalysis 2024 Crypto Crime Report (Download Today) Website: Chainalysis: We are paving the way for a global economy built on blockchains Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now! Blog: 54% of ERC-20 Tokens Listed on DEXes in 2023 Display Patterns That May Be Suggestive of Pump and Dump Schemes Blog: The On-chain Footprint of Southeast Asia’s ‘Pig Butchering’ Compounds: Human Trafficking, Ransoms, and Hundreds of Millions Scammed Podcast: Ep. 44 - Everything You Need To Know About Crypto Market Manipulation YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Tik Tok: Building trust in #blockchains among people, businesses, and governments. Telegram: Chainalysis on Telegram  Speakers on today’s episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Eric Jardine (Cybercrimes Research Lead, Chainalysis)  Kim Grauer (Director of Research, Chainalysis) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.