Podcasts about fidelity digital assets

In today's episode, Chris Kuiper, Vice President of Research at Fidelity Digital Assets, unpacks key macro trends—from U.S. tariffs to stagflation and de-dollarization—and what they mean for crypto and Bitcoin's role as a long-term store of value.~~~~~

In this episode, I chat with Graham Krizek, the founder and CEO of Voltage Cloud. We break down the Lightning Network's speed, scalability, capital efficiency, and the groundbreaking Fidelity Digital Assets report created in collaboration with Voltage. ––– Offers & Discounts ––– Get 10% off your ticket for the Bitcoin Conference 2025 in Vegas! Use the promo code MATRIX at https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025 Theya is the world's simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ ––– Get To Know Today's Guest––– • Graham Krizek on X: https://x.com/gkrizek • Voltage Cloud on X: https://x.com/voltage_cloud • Voltage Cloud on Nostr: npub15klkdfx9sh3y096a5jf895rcvkmkzvly2fm9dgxq6huqhp9576jsav4m73 ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com • Follow Cedric Youngelman on X: https://x.com/cedyoungelman • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:00 - Introduction to Graham Krizek & Voltage 01:51 - What is the Lightning Network? 04:15 - How Voltage Powers the Lightning Ecosystem 05:45 - Graham's Background 07:56 - The Fidelity & Voltage Lightning Report 10:06 - How Lightning Channels & Hops Work 12:54 - Routing Payments and Non-Custodial Yield 14:58 - Channel Structures & Capital Efficiency Trends 16:30 - Public vs. Private Channels & Total Network Capacity 18:25 - Transaction Value vs. Transacted Capital 20:38 - Adoption Trends in Lightning 21:32 - Payment Speed, Hops & Network Efficiency 23:31 - Lightning vs. Blockchain Scalability 24:43 - Success Rates on the Lightning Network 26:03 - State of the Lightning Ecosystem 27:33 - New Verticals: Nostr, Podcasting 2.0 & AI Agents 30:22 - The Convergence of Stablecoins & Lightning 32:49 - Lightning's Resilience & Long-Term Vision 35:01 - What Will Drive Lightning's Mass Adoption? 36:33 - Advice for Bitcoin-Focused Small Businesses 37:56 - Is Lightning Delivering on Its Promise? 38:08 - B2B Integrations & Lightning as an Infrastructure Layer 39:00 - Why Lightning Doesn't Get the Spotlight (Yet) 40:35 - What Graham is Most Excited About in 2025 42:00 - Final Thoughts & Where to Find Voltage I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

Manuel Nordeste is Vice-President at Fidelity Digital Assets and leads the business development team outside of the United States.In this episode, Manuel discusses the evolving landscape of Bitcoin and digital assets, focusing on market sentiment, institutional interest, and the role of Fidelity Digital Assets. Exploring how regulatory changes and educational efforts have influenced corporate strategies and investor behaviour, particularly in relation to ETFs and the impact of companies like MicroStrategy. The episode was recorded on the 28th of Feb, 2025.Fidelity Digital Assets:- Bitcoin First (original): https://fwc.widen.net/s/kx6vn9hkfw/bitcoin-first- Bitcoin First (updated): https://fwc.widen.net/s/vbgwdtmnrf/1012662.6.0---fdas-bitcoin-first-revisited-v1- 2025 Look Ahead: https://fwc.widen.net/s/zrvf5hfjfs/fda-2025-look-ahead-report---final- Manuel Nordeste: https://www.linkedin.com/in/mnordeste/----Jordan's Bitcoin Products and Event Links:

Is Lightning on its way out or primed for massive adoption? This is a question underlying so much of the discussion around Lightning on the timeline. So I sat down with Graham to discuss the state of Lightning in 2025. Recently they published a report in partnership with Fidelity Digital Assets and presented some great stats on the health of the network. This episode will make you bullish on Lightning. Check out this conversation with Graham Krizek - CEO & Founder of Voltage Cloud. Follow Graham on Twitter: https://x.com/gkrizek?lang=en Learn more about Voltage: https://www.voltage.cloud/

Chris Kuiper is Director of Research for Fidelity Digital Assets, where he oversees a team that is responsible for the research creation process, working closely with sales and marketing to provide leading education and resources to clients. › Follow Chris on https://x.com/ChrisJKuiper › Fidelity Digital Assets Research: https://www.fidelitydigitalassets.com/research-and-insights SPONSORS

Matt and Nic are back after a week off. In this episode: Southern District of New York grants Coinbase's appeal in their case against the SEC The Governor of the Czech national bank is considering Bitcoin in their reserves Do Kwon is extradited to the US E-trade is launching crypto trading The FDIC is forced by a court to further un-redact documents Coinbase asked for in a FOIA request We cover the FDIC's Pause Letters Content mentioned in this episode:  Fidelity Digital Assets, 2025 Look Ahead Bitwise, Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets Nick Anthony, Fair Access to Banking

On today's episode, we welcome special guest Chris Kuiper, Director of Research at Fidelity Digital Assets, a subsidiary of Fidelity Investments.  Chris discusses the digital asset landscape including building on bitcoin, how cryptocurrency rallies affect the market, and anticipated digital asset trends for 2025.   Recorded on November 27, 2024.   At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.

On today's show, we are joined by Chris Kuiper, Director of Research, and Matt Horne, Head of Digital Asset Strategists for Fidelity Digital Assets to discuss narratives surrounding ETH and BTC, use cases around ETH, how advisors can work with Fidelity utilizing digital assets, decreasing volatility in crypto, and much more! Find complete show notes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ The Fidelity® Wise Origin® Bitcoin Fund and Fidelity® Ethereum Fund (the “Funds”) have each filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for their respective offerings to which this communication relates. Before you invest, you should read the prospectus included in that registration statement and other documents the Fund has filed with the SEC for more complete information about the Funds and their respective offerings. You may obtain these documents for free by visiting EDGAR on the SEC's web site at www.sec.gov. Alternatively, the Funds will arrange to send you the prospectus if you request it by calling (800) 343-3548. View prospectus here. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Deciphered, Adam Davis, expert associate partner at Bain & Company, is joined by Chris Kuiper, Director of Research at Fidelity Digital Assets, Edward Woodford, CEO at Zero Hash and Jeremy Fox-Geen, CFO at Circle to discuss whether crypto has crossed the institutional and consumer chasm.Timestamps:06:22 Has crypto crossed the institutional and consumer chasm?09:41 What's underpinned this crypto bull run over the last 12 months?12:56 How do Bitcoin ETFs differ from other ETFs?15:11 Regulatory hurdles with Bitcoin ETFs17:21 Is there a correlation between user adoption and ETF approvals?18:57 Bitcoin: Will the use cases grow, or is it just a store of value?23:16 Which other crypto assets could go through this regulatory process in the near future?25:23 The future of stablecoins32:52 What are the blockers stopping widescale adoption of stablecoins?42:59 How has crypto influenced global culture and society?48:37 What role will crypto play in Financial Services once it has fully matured?Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!You can find Adam Davis hereYou can find Chris Kuiper hereYou can find Edward Woodford hereYou can find Jeremy Fox-Geen hereFor more insights from the Deciphered podcast, visit the page on Bain's website

Grayscale Investments' John Hoffman; Coinbase's John D'Agostino, and Fidelity Digital Assets' Chris Kuiper joined Rena Sherbill to discuss the importance of investors getting more educated in the crypto sector on June 18 at Seeking Alpha's first Investing Summit. Is now the time to get in (0:46)? Bitcoin vs the rest (5:30). 'Volatility is not risk': Spot Bitcoin ETFs (11:00). Retail crypto investing, evolution of brokerages (21:00). Originally published with video here.Read the transcriptShow Notes:Wall Street Breakfast: End Of WinterSEC at long last approves spot bitcoin ETFsSEC approves spot ethereum ETFs in huge win for crypto worldFor full access to analyst ratings, stock quant scores and dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions

Chris Kuiper, the Director of Research at Fidelity Digital Assets—a cryptocurrency-focused division of Fidelity Investments, which manages nearly $5 trillion in assets—joins us today to discuss the recent cryptocurrency market downturn. We'll explore why Fidelity maintains a strong belief in the potential of cryptocurrencies despite the market's challenges. Chris Kuiper: https://twitter.com/ChrisJKuiper My friends from The Arch Public, Andrew Parish, and Tillman Holloway, are joining in the second part of the stream to provide an update on the $10K algorithmic portfolio.  Unleash algorithmic trading with The Arch Public: https://thearchpublic.com/  Andrew Parish: https://twitter.com/AP_Abacus  Tillman Holloway: https://twitter.com/texasol61  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY!

Today we welcome special guest Chris Kuiper on the show. Chris is Director of Research at Fidelity Digital Assets. He discusses many digital landscape topics and trends including Bitcoin's recent halving and SEC's approval on Bitcoin ETPs. Bitcoin's recent halving event is a process where the new incoming supply of Bitcoin is halved. This process takes place every four years and essentially reduces the reward given to miners for securing the network. Historically, Bitcoin halving usually precedes a surge in Bitcoin pricing, but it can also impact supply dynamics and Bitcoin scarcity. Chris notes despite halving reducing the number of Bitcoin received by miners, the significant increase in Bitcoin's price over time has more than compensated for the reduction in coins received. Chris also comments on the SEC's approval of Exchange Traded Products adding that ETPs for Bitcoin have been extraordinarily successful seeing massive inflows totalling over $12 billion in cumulative net flows in US dollars.  Assets under management for these US products exceeded $55 billion. He also discusses ethereum's performance and the rise of newer cryptocurrencies like solana.     Recorded on April 26, 2024.   At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics' Advisor Digital Experience Study.

Watch The X22 Report On Video No videos found Click On Picture To See Larger PictureBiden is plowing ahead with the green new scam and Comer is pointing this out, the anti-fossil fuel rule is going to help the people it will hurt the people. Gold ownership is increasing, Bitcoin ownership is increasing. Trump ready to change the structure of the Fed. The [DS] will intensify the attacks on Trump. Each time the attack the more the people learn. The focus is now pointing to the real criminals, and more and more people are realizing who they are. U1 is now coming into play, think why Obama wanted the docs back from Trump. The tide is turning, people are now seeing it and they are waking up. The truth will destroy all lies.   (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy https://twitter.com/GOPoversight/status/1783566668070801697   feasible nor cost-effective. Documents obtained by the Oversight Committee, for example, reveal the Biden Administration has chosen to move forward with its harmful fossil fuel-fired power plants emissions rule despite clearly being aware of the costs and illegality of the rule. These new standards are designed to please left-wing climate activists and Americans across the country are the ones who will pay the price. There couldn't be a worse time for the Biden Administration to ratchet up its anti-American energy agenda, which continues to jeopardize America's power grid and raise energy costs.” Top Study: Carbon Emissions CANNOT Cause ‘Global Warming' A bombshell new peer-reviewed study has provided conclusive scientific evidence proving that carbon dioxide (CO2) emissions in Earth's atmosphere cannot cause “global warming.” Dr. Jan Kubicki led a group of world-renowned Polish scientists to study the impact of increases in CO2 emissions on the Earth's global temperatures. However, not only did they find that higher levels of CO2 made no difference, but they also proved that it simply isn't possible for increases in carbon dioxide to cause temperatures to rise. Kubicki and his team recently published three papers which all conclude that Earth's atmosphere is already “saturated” with carbon dioxide. This saturation means that, even at greatly increased levels of CO2, the “greenhouse gas” will not cause temperatures to rise. Kubicki et al. summarize their evidence by noting that as a result of saturation, “emitted CO2 does not directly cause an increase in global temperature.” Current levels of CO2 in the atmosphere are around 418 parts per million (ppm) but the scientists state that past 400 ppm, “the CO2 concentration can no longer cause any increase in temperature.” The saturation of CO2 in the atmosphere is the hypothesis that dares not speak its name in mainstream media, politics, and across much of climate science. The latest study is published in the prestigious Elsevier's Science Direct peer-reviewed journal. Source: slay.com https://twitter.com/WallStreetSilv/status/1783542235843146020 Bitcoin Ownership Surges As Small Addresses Hit Record High  A recent report from Fidelity Digital Assets highlights a substantial increase in the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (BTC). Fidelity's analysts reveal that this segment soared to an unprecedented 10.6 million wallets in mid-March, marking a doubling from the 5.3 million addresses recorded in 2023. Source: cryptocurrencynews.com Trump wants to put someone at the Fed who will work for him - report The WSJ is out with a new report from Nick Timiraos and two other reporters.

This is another one of those days where Bitcoin price stagnation is not remotely indicative of how interesting the past 24 hours have been! On the Bitcoin front, Fidelity Digital Assets no longer considers it “cheap.” Still, we're reminded that BTC's major price gains are typically at the tail-end of a bull cycle, and we're somewhere near the start. Bitcoin's fees crashed back to earth after the halving, not that Peter Schiff noticed, as he again called Bitcoin a “failure.” Elsewhere, two SEC lawyers were allegedly forced to resign after a judge found a “gross abuse” of power by the agency in its case against Debt Box, and the SEC wants $5.3 billion from Terraform Labs and Do Kwon. Meanwhile, memecoin madness continues!Further reading:Bitcoin ‘no longer cheap' — Fidelity revises medium-term outlook for BTCBitcoin Bollinger Bands hit level that saw BTC price squeeze past $50KBitcoin fees crash after record daily average of $128 on halving daySEC lawyers resign after ‘gross abuse' of power in crypto case — ReportSEC seeks $5.3B judgment against Terraform Labs and Do Kwon12 Solana presale memecoins abandoned after just a monthShiba Inu memecoin raises $12M from institutional investorsSo, grab yourself a coffee, and let's get into it!Rise'n'Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph's Twitter: @CointelegraphCointelegraph's website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants' alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast's participants may or may not own any of the assets mentioned.

Sam sits down with Chris Kuiper, Director of Research at Fidelity Digital Assets, to discuss Bitcoin's emergence as an institutional-grade asset, the merits of Proof of Work, the economics of the Bitcoin halving, the different channels to gain Bitcoin exposure, and how he envisions Bitcoin may mature in the future.Connect with Sam: https://twitter.com/samcallahConnect with Chris: https://twitter.com/ChrisJKuiperTime Stamps:0:00 - 1:02 - Pacific Bitcoin Ad1:02 - 2:03 - Intro2:03 - 4:58 - Bitcoin First Fidelity Paper4:58 - 10:10 - How do you View Bitcoin versus other Cryptos?10:10 - 15:24 - Proof of Work versus Proof of Stake15:24 - 18:01 - Why Electricity is Key to Decentralization of Bitcoin?18:01 - 20:41 - How do other Systems Try to Bypass the Laws of Physics and What are those Risks?20:41 - 26:50 - What is the Purpose & Meaning of the Bitcoin Halving?26:50 - 28:25 - Talking about Bitcoin Exchange Traded Products (ETPs)28:25 - 30:06 - Bitcoin becomes Scarcer than Gold with this Halving30:06 - 34:20 - Is the Halving Priced in or Not? Or Macro Environment More Important?34:20 - 38:23 - Halving becoming Less Relevant?38:23 - 43:35 - How Impressed Have You Been of the ETF Products?43:35 - 46:56 - What are People's Hold ups with Bitcoin?46:56 - 51:30 - Monetary Properties of Bitcoin?51:30 - 57:20 - Concerns of Bitcoin?57:20 - 59:51 - OutroConnect with Swan Bitcoin: YouTube: https://youtube.com/@Swan_Bitcoin Twitter: https://twitter.com/Swan Instagram: https://instagram.com/SwanBitcoin Telegram: https://t.me/swanbitcoin LinkedIn: https://linkedin.com/company/swanbitcoinSwan Bitcoin does not provide any investment, financial, tax, legal or other professional advice. We recommend that you consult with financial and tax advisors to understand the risks and consequences of buying, selling and holding Bitcoin. Swan Bitcoin is the best way to accumulate Bitcoin with automatic recurring buys and instant buys from $10 to $10 million. Start your Bitcoin journey today, and your first $10 purchase is on us https://swanbitcoin.com/yt Download the all-new Swan Bitcoin App https://www.swanbitcoin.com/app/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description Get your ticket for the Pacific Bitcoin Festival 2024 before prices increase! https://www.pacificbitcoin.com/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description Secure your bright orange future with the Swan IRA today! Real Bitcoin, no taxes https://www.swanbitcoin.com/bitcoin-ira/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description For high-net-worth individuals and corporations seeking to build generational wealth with Bitcoin, Swan Private is your guide https://www.swanbitcoin.com/private/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description Want to learn more about Bitcoin? Check out the Bitcoin Canon a curated list of the best Bitcoin resources from your favorite experts https://swanbitcoin.com/cannon/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description Get paid to recruit new Bitcoiners by joining Swan Force https://www.swanbitcoin.com/enlist/?utm_medium=social&utm_source=youtube&utm_campaign=youtube_description

We apologize for video/audio lag in today's episode! -- Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week Chris Kuiper Director of Research at Fidelity Digital Assets joins the show for an overview of the Bitcoin market as the 4 year halving approaches. We discuss the ETF impact, current state of the crypto market, the liquidity cycle & what to expect post halving. Enjoy! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Chris: https://twitter.com/ChrisJKuiper Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- (00:00) Introduction (01:23) The Bitcoin ETF Impact (04:27) The Bitcoin Halving (13:06) Mantra Ad (14:12) Is Retail Back? (19:29) Volatility vs Store of Value (30:24) Permissionless Ad (31:02) Institutional Demand For Ethereum (46:02) The Macro Backdrop For Bitcoin (54:41) Where Are We In The Cycle? -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Cynthia Lo Bessette and Matt Horne of Fidelity Digital Asset Management join the show. In this episode we discuss: The history of digital asset innovation at Fidelity. The decision to operationalize a digital asset-management capability under Fidelity's Asset Management business unit. The launch of the Fidelity Bitcoin ETF and the path to getting this product to market. How Bitcoin ETFs are currently being consumed and the distribution of these products to various investor types and platforms. How Fidelity is approaching the tokenization of real world assets. Broader views on the future of public blockchain assets and the types of opportunities for asset managers. Learn more at Fidelity Digital Assets

Chris Kuiper is the Director of Research for Fidelity Digital Assets. Yassine Elmandjra is the Director of Digital Assets at Ark Invest. Matthew Siegel is the Head of Digital Assets Research for Vaneck. Will Clemente is the Co-Founder of Reflexivity Research. This conversation was recorded at Bitcoin Investor Day in New York. In this conversation, they discuss bitcoin evaluation process, bitcoin ETFs, client demand, regulation, crypto industry, and future outlook. ======================= Core Scientific (NASDAQ: CORZ) is one of the largest public Bitcoin miners and hosting solutions providers for Bitcoin mining in North America. To learn more about Core Scientific, please visit: ⁠www.corescientific.com⁠ ======================= In this podcast, we dive into the revolutionary concept of PropyKeys, an application that allows anyone to mint home addresses all over the world on blockchain. PropyKeys.com is a part of the Propy ecosystem, that has a grand mission to make homeownership more affordable and user friendly. We will explore the journey of Propy's founder and how this innovative technology provides benefits for homeowners, and for the real estate industry. Join us as we discuss the Propy's latest collaborations, including Coinbase, and its new fun project PropyKeys. X (Twitter): @PropyKeys Website: Mint an address at propykeys.com. dApp: ⁠⁠⁠⁠⁠⁠https://dapp.propy.com/⁠⁠⁠⁠⁠ ======================= Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/ ======================= View 10k+ open startup jobs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dreamstartupjob.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enroll in my Crypto Academy: https://www.thecryptoacademy.io/

Matt and Nic are back for another week of news and deals. In this episode:  OPNX is very sadly shutting down  Is jail good for you?  GBTC outflows are declining Solicited versus unsolicited treatment of ETFs The Bitcoin L2 space is heating up The latest on COPA  We revisit the Satoshi is the NSA conspiracy  SAB121 stuff The DoE's Bitcoin mining data collection emergency What's happening with Farcaster?  Brink Nation joins Farcaster  Monero delisted from Binance  Solana outage this week Content mentioned:  Fidelity Digital Assets, Q4 2023 Signals Report Sponsor notes:  Ethereum's Dencun Upgrade In Coin Metrics State of the Network Issue 245, we dive into the details of the Ethereum Dencun upgrade and highlight key indicators to monitor its success

Matt and Nic are back with another week of news and deals. In this episode:  Tail risks with the Bitcoin ETF Are SBF's parents off the hook? The FDIC is embroiled in scandal Should Marty Gruenberg step down? Tokenized bank deposits versus stablecoins What's wrong with the third party doctrine SAB121 under pressure Content mentioned in this episode: Fidelity Digital Assets, Understanding Proof of Work The WSJ, Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic Atmosphere at Bank Regulator FDIC Whip Emmer Letter to Treasury regarding Hamas crypto financing Sponsor notes: Coin Metrics STATE OF THE NETWORK—November Rally Reaches New Corners of the Digital Asset Market In Coin Metrics State of the Network Issue 233, we delve into the primary beneficiaries of the recent market rally and explore diverse avenues channelling this momentum

On today's show, Michael Batnick and Ben Carlson are joined by Chris Kuiper, Director of Research at Fidelity Digital Assets to discuss: fundamental reasons Bitcoin is outperforming in 2023, illiquid Bitcoin values and supply/demand affects on digital assets, what Ethereum's different layers represent, and much more! Find complete show notes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Chris Kuiper is Director of Research for Fidelity Digital Assets. In this episode we discuss: Fidelity's history and early Bitcoin mining How you can invest in Bitcoin in traditional brokerage accounts Why Bitcoin should be evaluated differently from other digital assets Will Bitcoin coexist with other digital assets and fiat? Bitcoin as a superior form of money Spot Bitcoin ETF applications Is it too late to start buying Bitcoin? -- Chris previously served as VP of equity research at CFRA Research, one of the largest independent global investment research providers. He led the expansion of CFRA's research capabilities to include digital assets -- and the creation of CFRA's research methodology. Chris holds an MA in Economics from George Mason University and a BA in Business Administration from Dordt University. -- Follow Chris on X: https://x.com/ChrisJKuiper -- Fidelity Digital Assets Report: Bitcoin First Revisited https://www.fidelitydigitalassets.com/research-and-insights/bitcoin-first-revisited -- -- Partners: BITCOIN 2024 by Bitcoin Magazine is July 25-27 in Nashville! Get your early bird pass at a steep discount at https://b.tc/conference. Use code HODL for 10% off. -- -- Fold is the best Bitcoin rewards debit card and shopping app in the world. Earn Bitcoin on everything you purchase with Fold's Bitcoin cash back debit card, and spin the Daily Wheel to earn free Bitcoin. Head to https://www.foldapp.com/natalie and you can get up to 10,000 satoshis when you sign up. -- I'm proud to partner with Coinkite your go-to tech company for top-notch Bitcoin custody solutions. The ColdCard wallet offers a safe haven for your Bitcoin, securely storing your digital assets offline. Check out Coinkite's offerings, and take the step toward accessible Bitcoin management. Get 5% off using my link https://store.coinkite.com/promo/COINSTORIES -- CrowdHealth offers the Bitcoin alternative to health insurance. When you have a health need, CrowdHealth negotiates down the cost of your medical bill and then crowdfunds the balance from the community. The rest of the money you would have spent on insurance and healthcare costs? Yours to keep! https://www.joincrowdhealth.com/natalie to sign up. -- The Orange Pill App is building the social layer for Bitcoin and creating opportunities for in-person connections and building community. Connect with HODLers and Bitcoin events based on your location. Download The Orange Pill App and more at http://signup.theorangepillapp.com/opa/natbrunell. -- If you're looking for the highest-quality sustainable pork, steak and seafood products, look no further than Campo Grande. Their animals are raised on family-owned farms and are antibiotic-free, hormone-free, slow-growth, and carbon negative. For $20 off Campo Grande boxes use code HODL: https://eatcampogrande.com/HODL -- HODL Bitcoin for your retirement through an iTrust Capital IRA: itrust.capital/nataliebrunell -- OTHER RESOURCES  Natalie's website https://talkingbitcoin.com/ Fidelity Digital Assets https://www.fidelitydigitalassets.com/ -- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories -- FOLLOW NATALIE ON SOCIAL MEDIA Twitter https://twitter.com/natbrunell Instagram https://www.instagram.com/nataliebrunell Linkedin https://www.linkedin.com/in/nataliebrunell -- Producer: Aron Bender https://www.linkedin.com/in/aron-bender/ -- DISCLAIMER This show is for entertainment purposes only and does not give financial advice. #bitcoin #cryptocurrency #money

Fidelity Digital Assets explains why Bitcoin is a unique & superior form of money that investors should consider first & separate from all other digital assets - Michael Saylor SPONSORS ► Passport by Foundation: https://www.foundationdevices.com/simply ► Swan: https://www.swan.com/simply ► Kaboomracks: https://www.kaboomracks.com ► Stamp Seed: https://www.stampseed.com PROMO CODE: SIMPLY for a 15% discount BITCOIN CONFRENCE DISCOUNTS ► Bitcoin 2024: https://b.tc/conference/2024  PROMO CODE: SIMPLY for discount on your tickets! ► Bitblockboom: https://bitblockboom.com/?coupon=simplybitcoin PROMO CODE: SIMPLYBITCOIN for a discount on your tickets! ► UnConfiscatable: https://unconfiscatable.com PROMO CODE: Simply10 for a discount on your tickets! FOLLOW US ► https://twitter.com/SimplyBitcoinTV ► https://twitter.com/BITVOLT7 ► https://twitter.com/Optimistfields ► Nostr: npub1vzjukpr2vrxqg2m9q3a996gpzx8qktg82vnl9jlxp7a9yawnwxfsqnx9gc JOIN OUR TELEGRAM, GIVE US A MEME TO REVIEW! ►https://t.me/SimplyBitcoinTV SUBSCRIBE TO OUR YOUTUBE ►https://bit.ly/3QbgqTQ SUPPORT US ► On-Chain: bc1qpm5j7wsnk46l2ukgpm7w3deesx2mdrzcgun6ms ►Lightning: simplybitcoin@walletofsatoshi.com  #bitcoin #bitcoinnews #simplybitcoin DISCLAIMER: All views in this episode are our own and DO NOT reflect the views of any of our guests or sponsors. Copyright Disclaimer under section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please contact Simply Bitcoin.

WATCH THE VIDEO OF THIS PODCAST HERE: https://www.thetayf.com/pages/multimedia?wchannelid=c4ogwxwvtw&wmediaid=u3s5y88yg7Could simple lifestyle changes really reduce your risk of Alzheimer's disease? In this episode, we delve into proactive strategies that may decrease your chances, from adopting new learning habits to dietary considerations. We also touch on the importance of addressing clean water scarcity and technological advancements in the field.In an exclusive interview, we're joined by Chris Baker from Fidelity Digital Assets and Miguel Kudry, CEO of L1 Advisors. We explore the significance of custody solutions, their experiences in crypto mining, and Fidelity Digital Assets' move into retail accounts and 401ks. Additionally, we spotlight Fidelity Crypto for Wealth Managers, examining its services, potential regulations, and the rise of institutional clients. Join us for an insightful look into digital assets, CBDCs, and the associated risks in today's financial realm.Subscribe to podcast updates: https://form.jotform.com/223614751580152Ask Ric: https://www.thetayf.com/pages/ask-ricRic's Books: https://www.amazon.com/stores/Ric-Edelman/author/B000APYJPM-----Links from today's show:World Alzheimer's Month: https://www.alzint.org/get-involved/world-alzheimers-month/the Invesco Water Resources ETF (Symbol: PHO): https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&ticker=PHOVISION 2023: https://dacfp.com/vision-2023/Digital Assets Council of Financial Professionals: http://www.dacfp.com/Fidelity Digital Assets: https://www.fidelitydigitalassets.com/Fidelity Center for Applied Technology: https://fcatalyst.com/overviewL1 Advisors: https://l1advisors.com/NEXT WEBINAR (register here): The Data That Can Help You Determine Which Digital Assets To Consider for Your Portfolio: https://dacfp.com/webinar-the-data-that-can-help-you-determine-which-digital-assets-to-consider-for-your-portfolio/The Truth About Crypto (book): https://www.amazon.com/Truth-About-Crypto-Easy-Understand/dp/1668002329/The Truth About Your Future (website): http://www.thetayf.com/Follow Ric on social media:Facebook: https://www.facebook.com/RicEdelmanInstagram: https://www.instagram.com/ric_edelman/ LinkedIn: https://www.linkedin.com/in/ricedelman/X (formerly Twitter): https://twitter.com/ricedelman YouTube: https://www.youtube.com/@RicEdelmanBrought to you by:Global X ETFs: https://www.globalxetfs.com/Invesco QQQ: https://www.invesco.com/qqq-etf/en/home.htmlPrisidio: https://www.prisid.io/Schwab: https://www.schwab.com/Disclosure page: https://www.thetayf.com/pages/sponsorship-disclosure-fee-----

On today's show, Michael and Ben are joined by Jack Neureuter, Senior Research Analyst at Fidelity Digital Assets, and Ramine Bigdeliazari, Director of Product at Fidelity Digital Assets to discuss: - What the SEC ruling means for digital assets - How an ETF may affect the crypto ecosystem - The migration of talent within crypto - Macro changes and digital asset reactions, and much more! Learn More at: https://www.fidelitydigitalassets.com/    Find complete show notes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed, and F/m Investments makes no representation or warranty as to the accuracy or completeness of the information, which should not be used as the basis of any investment decision. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. For more information about F/m Investments, including our Form ADV brochures, please visit https://adviserinfo.sec.gov and search for our firm name.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Eric Golden and my guest today is Jack Neureuter. Jack is a Senior Research Analyst at Fidelity Digital Assets where he helps institutions make sense of the crypto ecosystem. Our conversation centers on three main themes - Bitcoin, Ethereum, and the institutional view on Crypto. We start by talking about where we are in the Bitcoin Cycle. We then cover the Taproot upgrade, the XRP court case, and how institutions think about allocating to crypto. Please enjoy my conversation with Jack Neureuter. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.  ----- This show is brought to you by OKX. Want to stop paying trading fees? You can now trade for free for two months with OKX. Over 20 million traders and institutions choose OKX when they want to trade. And you can join them by signing up at okx.com/landingpage/okxtraderseries to start your two months of fee-free trading today. ----- Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag  Show Notes (00:02:00) - (First question) - Exploring Bitcoin cycles, regulatory challenges, macro factors, and future potential outcomes (00:05:40) - Bitcoin's price tied to supply drop impact versus narrative-driven price changes (00:08:19) - Ethereum's technology fuels apps, while Bitcoin's scarcity enhances worth (00:13:37) - Harmony of Ethereum's tech and Bitcoin's simplicity (00:16:53) - Bitcoin scales while preserving decentralization, Ethereum offers diverse applications (00:19:42) - Bitcoin's Ordinals sparked debate between change and preservation (00:22:37) - Considering ETFs for Bitcoin in 2023 amid legal challenges (00:26:30) - Institutional interest in ETFs could impact crypto governance (00:28:24) - XRP's legal outcome surprised many, impacting altcoins, but industry's understanding is evolving (00:30:49) - Allocations vary based on macro views and investor type, with Bitcoin and Ethereum leading (00:34:18) - Asia leads crypto adoption due to currency norms, digital payments, and regulatory differences (00:37:11) - How allocating crypto in portfolios can be tricky due to limited data for future returns (00:38:5) - How valuing crypto can be tough due to lack of data, diverse use cases, and speculation (00:42:43) - Ethereum's potential for real-world assets on chain and the evolving tech landscape  (00:45:20) - What Jack is most excited to build over the next six months and six years Learn more about your ad choices. Visit megaphone.fm/adchoices

Jack Neureuter, research analyst at Fidelity Digital Assets, stops by to give Raoul an inside look at institutional adoption, where we're at in the market cycle, and why he believes we might see more pain ahead. Jack and Raoul also cover the BTC vs. ETH debate, smart contracts, and why institutional adoption is no longer a question, but a fact. Recorded on July 12, 2023. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Jack Neureuter, research analyst at Fidelity Digital Assets, stops by to give Raoul an inside look at institutional adoption, where we're at in the market cycle, and why he believes we might see more pain ahead. Jack and Raoul also cover the BTC vs. ETH debate, smart contracts, and why institutional adoption is no longer a question, but a fact. Recorded on July 12, 2023. Learn more about your ad choices. Visit podcastchoices.com/adchoices

On today's show, we are joined again by Jack Neureuter, Research Analyst at Fidelity Digital Assets to discuss: knock-on affects of a spot Bitcoin ETF, the Grayscale discount, Bitcoin in bear markets vs bull markets, whether inflation is actually good for crypto, and much more!    Find complete shownotes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/

In this MI Rewind episode, Clay Finck chats with Chris Kuiper and Jack Neureuter about Fidelity and Bitcoin, decentralization and network effects, and much more!Chris Kuiper is the Director of Research at Fidelity Digital Assets and Jack Neureuter is the Research Analyst at Fidelity Digital Assets. Together they wrote the Bitcoin First White Paper which outlines why investors need to consider bitcoin separately from other digital assets.IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro06:56 - Why Fidelity chose to offer services for Bitcoin only, and none of the other digital assets.13:47 - Why institutions are interested in buying Bitcoin for their company's balance sheet.16:59 - Chris and Jack's thoughts regarding common criticisms of Bitcoin.19:45 - Why Bitcoin should be considered separately from all other digital assets from an investment standpoint.28:08 - Why decentralization and network effects are critical aspects of Bitcoin's value proposition.44:24 - Things happening in the Bitcoin space that make Chris and Jack most excited about its future.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out the Bitcoin First White Paper.Related WSB Episode: Listen to BTC064: Bitcoin and Fidelity's Director of Global Macro Jurrien Timmer, or watch the video.Related Episode: Listen to MI128: Why Buy Bitcoin w/ Andy Edstrom, or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Have the visibility and control you need to make better decisions faster with NetSuite's cloud financial system. Plus, take advantage of their unprecedented financing offer today - defer payments of a full NetSuite implementation. That's no payment and no interest for six months!Your home might be worth more than you think. Earn extra money today with Airbnb.RentSavvy is the first and only nationwide service for filling your rental property with a quality tenant for one flat fee. Register your rental property for free at RentSavvy.co now, to take advantage of this tenant placement service for your next vacancy.Support our free podcast by supporting our sponsors.Connect with Fidelity Digital Assets: Website | TwitterConnect with Clay: TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On today's show, we are joined by Jack Neureuter, Research Analyst at Fidelity Digital Assets to discuss what drives the price of Bitcoin, where to store Bitcoin, Bitcoin staying out of the headlines, and much more!     Find complete shownotes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/

Fidelity Crypto finally is open to the public, giving millions of users access to bitcoin and ether investments. Bitcoin and ether transactions on the app are commission free. Fidelity Digital Assets will collect a spread of no more than 1%. Coincidentally this is happening amid a major bank crisis with global significance. While other banks are considered to be at risk, the Federal Reserve had to ease the ongoing liquidity crisis in the country, according to JPMorgan Chase & Co. According to JP Morgan, the Fed's emergency loan program is expected to bring in $2 trillion worth of funds into the U.S. banking system.Guest: Ran Neuner, Founder CryptoBanterCrypto Banter Youtube Channel ➜ https://bit.ly/BanterCryptoYT

On today's show, we are joined by Jack Neureuter, Research Analyst at Fidelity Digital Assets to discuss a sentiment check with Bitcoin, use cases, a year in review for 2022, how Bitcoin has held up better than expected, and much more.   Find complete shownotes on our blogs...  Ben Carlson's A Wealth of Common Sense  Michael Batnick's The Irrelevant Investor  Like us on Facebook  And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.      (Wealthcast Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.) 

Matt and Nic return for another week of news and deals. In this episode:  Is there a socially optimal level of vigilantism  What's the deal with Modulo Capital?  SBF's mother and brothers are now in the crosshairs Matt and Nic hash our VR vs AR Ted Cruz asks cafeterias in the Capitol to accept bitcoin  Texas introduces Proof of Reserve legislation  What's North Korea's endgame with all their hacked crypto? Tucker Carlson's theory that the airline outage was due to Bitcoin randomware  Matt's Bell's Palsy story Roger Ver owes Genesis $20m  Tungsten cubes are making a comeback Our Super Bowl picks Content mentioned in this episode:  Fidelity Digital Assets, "2023 Look Ahead: Refocusing and Building on Digital Assets' Core Principles." Galaxy Digital mining, "Surviving the Perfect Storm – 2022 End of Year Mining Report" Former Senator Phil Gramm and current SEC Commissioner Hester Peirce in the WSJ, "The SEC Seeks to Supplant the Market. Its mandate doesn't include telling CEOs how to run their companies and investors how to invest" Texas Bill HB-1666 NYDFS new virtual currency guidance for custodial institutions

Hosts welcome special guest, Chris Kuiper of Fidelity Digital Assets to discuss results from the 2022 Institutional Investor Digital Assets Study. Chris, along with the hosts, summarize data findings that give a glimpse into the crypto ecosystem from the perspective of institutional investors. Hosts report on key data points including sentiment, geographic adoption of digital assets, appealing features and purchase preferences. See the full summary of this survey at https://www.fidelitydigitalassets.com/research-and-insights/2022-institutional-investor-digital-assets-study *This podcast was previously recorded on November 9, 2022.

Crypto investors have seen their fair share of sudden market meltdowns this year. This week, all eyes were on FTX, formerly one of the world's largest cryptocurrency derivative exchange platforms.This latest turmoil has sent shockwaves throughout the industry. Yet historically, cryptocurrencies have rebounded following each crisis. What doesn't wipe out the blockchain becomes a hard lesson for crypto ventures, turning them into fortified iterations of themselves.For Brett Royer, CFO of Fidelity Digital Assets, the recent unraveling of FTX underscored hard lessons that are not unique to crypto. An expert in high-level financial planning, Brett says those lessons point to fundamental business principles that have long existed.In this episode of The Modern CFO, Brett talks with host Andrew Seski about decentralized finance, the role of trust within the increasingly digital world of finance, how he thinks about risk, and more.Show Links Explore crypto careers at Fidelity! Browse Open Positions Check out Fidelity Digital Assets Connect with Brett Royer on LinkedIn Check out Nth Round Connect with Andrew Seski on LinkedIn TranscriptPlease note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only.‍[00:00:00] Andrew Seski: Hello everyone and welcome back to The Modern CFO Podcast. As always, I'm your host, Andrew Seski. I'm thrilled for the episode today because we are joined by Brett Royer, who's head of finance at Fidelity Digital Assets. Brett, thank you so much for being here today. [00:00:19] Brett Royer: Andrew, thank you for having me. [00:00:21] Andrew Seski: So, we're going to dive right in. The world of crypto and the world of digital assets has evolved in a unique way, down to literally the hour, especially this week. So, I want to kick off not just on the current event side, but we're going to have plenty of time to go through those current events, I want to start today actually with your career and then kind of the history of Fidelity Digital Assets, which I know spans back farther than most institutional groups had even considered labs themselves. So, we'd love to kick off with maybe some of your educational background, sort of the rise to this position, and then we'll segue in and out of how Fidelity Digital Assets is positioned today and what you're thinking about today. So, we have a lot to cover. [00:01:08] Brett Royer: Yeah, sure. Great. So, I'll start with a little bit of career history. Prior to business school, I'd say one of my more substantial roles was working in the Merrill Lynch Private Banking and Investment Group. So, there I was working with a former Chicago Board of Trade trader who had sold a business, a trading business, for a substantial sum, thought he was going to retire and ride off into the sunset. I spent some time doing some personal things and then realized that he got bored. And so, went back into business as a wealth manager and he ran his own proprietary trading strategy for a lot of the clients that he served. And so, I joined his team as sort of a mini fund analyst of sorts that supported the portfolio analysis and trading decisions behind the proprietary strategy that he used on behalf of his clients. And so, that was a really great experience. I think there, I kind of developed my first set of background and skills in capital markets, gained a pretty good understanding of how the markets work, traded in some illiquid securities and got a sense for what that was like. And had a pretty interest, I was there at a relatively interesting time. [00:02:33] So, I was probably in my second or third year, I can't remember exactly which, when things started to go wrong in Wall Street in financial services, right? So, the history is Lehman goes bankrupt and then Bear Stearns comes about as close as you can get to bankruptcy. And then I remember distinctly going into the weekend, Merrill Lynch was next up as a potential firm that was looking at having liquidity challenges and potentially could go under. And I'm sitting there as a junior analyst and just sort of watching this from an interested perspective, but also from the perspective of like, my job was on the line. But at that point in time, I didn't have as much to lose. Obviously pretty early in my career. But nonetheless, I think it was a strenuous time for everybody. And I distinctly remember sort of being glued to the TV all weekend just waiting to see what would happen. And then, sure enough, Bank of America, acquires Merrill Lynch on Sunday and I was really lucky to have a team that supported me, and I was able to maintain my role throughout then. But learned a lot of hard lessons around what bear markets feel like and look like. And I think that's in part educated some of what I've seen and felt in crypto markets as well. And I think just giving me a little bit of perspective on not getting too lost in the moment, either up or down, right, and having an understanding that these things tend to be cyclical, right? And there are going to be ups and downs and you don't want to get too over indexed on either side of the equation while you're in the moment, which is really hard.[00:04:08] But from there, I decided I didn't want to be a financial advisor. I think that would've been the next move if I stayed there. And that group worked with $10 billion clients and above. And so particularly difficult prospecting or particularly difficult segment to prospect in a serious way if you're a 25-year-old. So decided anyway that I wanted to be on more of an analytical track and more of a CFO track anyway, so made sense to go back to business school and sort of pivot. And so, I went to the University of North Carolina, got my MBA there. And around that time, Fidelity had just started recruiting at the University of North Carolina for a financial leadership rotational program. And I'm from Massachusetts originally, so familiar with Fidelity. Really wanted the chance to get back to the Northeast and so jumped at the opportunity to join a program that is tagging itself as developing the next future CFOs of Fidelity business units. [00:05:05] So did that. And the idea is you get broad exposure to the firm in relatively short order, right? You do six-month rotations in four different parts of the firm. And then you graduate, and you come out and Fidelity really has a sort of continuous career rotational program aspect to it, even after you're out of that traditional rotational program as well. So after I graduated, I spent the majority of my time, five years or so, in a role in our Fidelity institutional business. So, it's a really interesting business for Fidelity. They provide custody for registered investment advisors and then clearing for correspondent broker-dealers as well. And I worked on the broker-dealer side of the business. And up until 2008 or so, Fidelity was the clearing provider for a couple of large firms, JPMorgan and Bank of America. And around that time, they lost both in a year as a result of JP Morgan buying Bear Stearns and then Merrill, Bank of America buying Merrill Lynch. And so, both had self-clearing capabilities that sort of made them take away the need for a clearing provider like Fidelity. So, I don't know what percentage of the business those two represented. But needless to say, they were pretty considerable at that point in time. And I think there were a lot of hard discussions around whether the business could even survive. But kudos to the leadership at the time. They continued to invest in that business and grew it back even larger than it was prior to having those two big clearing firms. [00:06:45] And so I had an interesting experience there. Went through an acquisition of a smaller clearing firm. So, JP Morgan Clearing exited the business and we sort of did a non-typical acquisition, which was a purchase of the client book versus the purchase of the actual business itself. And then went through the process of trying to renegotiate those deals anyway and how that impacts sort of the valuation of that deal was challenging and unique. So really great experience there. And then also experiencing sort of waves of regulation. Around the time that I was in that group, we had DOL was coming in with a new set of rules that were really going to force a convergence of sort of the advisory model and bring together sort of the broker-dealer and RIA models under something that looked more like across the board fiduciary standard. And that was just a massive change for anybody who was running a broker-dealer business at the time. So a ton of strategic discussions and preparations for what the impact of that could be. And then, sure enough, we changed administrations and all that goes away anyway. So this is the nature of different administrations is you've got ebbs and flows in terms of regulatory tightness and ethos around what's important. And you got to adjust to those over time and find ways to still meet client demands.[00:08:15] Andrew Seski: Just a quick comment before we continue on to your segmentation and move into the Digital Assets arm. And another, there's some really interesting projects that were incubated there, too. But before we hop in there, do you think that there was an aspect of your personal risk aversion or how you think about risk? With your first foray into the world of finance being the global recession, not just the global recession but one that had a lot of dominoes stacked that people are still studying today. The over securitization, how we think about collateral, how you think about personal risk. You think that guided some of your career? I know that you moved kind of away from being a financial advisor just because it's a challenging role to go, like you mentioned, go prospect those types of potential clients as a 25-year-old. So, I mean, it sounds like that was a big piece of it. But how do you think that shaped how you thought about your career and risk in the world of finance? [00:09:17] Brett Royer: Yeah, I mean, it certainly had a big impact looking back, right? I think what brought down some of those large financial services institutions were risk management practices that were not fully up to par or sort of interconnectedness of exposure across the financial ecosystem that wasn't fully understood. And I think there are a lot of corollaries to be drawn to some of the things that have happened in the crypto market now, right? I think there are lessons that traditional capital markets and financial services have learned the hard way over time. Not to say that it's ever fully solved, right, even though the broker-dealer and capital markets business have been around for a long time, but we were still learning hard lessons all the way through 2008, right? [00:10:08] But I think the interesting thing from the perspective of the crypto ecosystem is just the acceleration of that learning curve of the hard lessons that have been learned, right? I think there's a lot of similar stories that you could draw parallels to that have happened in the past and financial services around under-collateralized loans and contagion effect from exposure cascading across multiple counterparties and people not really understanding the true risk profile of the firms that they're interacting with. I think those are all things that are not unique to crypto. I think they're fundamental business principles that have existed and caused problems for financial services for a long time. I just think that what we've seen unfold is just a really accelerated learning curve again for crypto, which has been hard because it's happened all at once and it's been painful. And that's how these things tend to work. But I would hope that in the backside, right, that we get some better business practices. Perhaps we get some more comprehensive regulation that looks at this in a thoughtful way from a consumer protection perspective but also from the perspective of not stifling innovation and not putting the US in a position where we're behind other countries in terms of having the ability to use crypto in ways that can benefit consumers over time. So that's the balance.[00:11:42] But I think one of the things that strikes me as pretty clear from this, there have been lots of folks in the crypto industry who I think are hesitant to have any sort of regulation come into play. And I think the thought is we can figure it out on our own or these things can be handled via the blockchain or there's lots of different thoughts on how or why regulation is bad or good. My perspective is that I think unfortunately what we've seen play out is that when you combine sort of relatively nascent ecosystem and business models with greed, that it tends to err on a path where you get these problems where there's a mismatch in sort of risk-reward philosophies. And then in some cases, that risk has been passed along to consumers who are just unknowing of the type of risk that they're taking on for a given situation, right? And so, you look at all that and you say that's where regulation is good. Because I think everybody in the ecosystem would agree that we don't want to put consumers at risk of holding the bag on some of these scenarios where things go wrong. And so, I think that's where you look, and you say that regulation has been pretty good over time of finding ways to ensure consumer protection. [00:13:02] Andrew Seski: It's a little tricky. I mean, I feel like the SEC actually gets kind of a bad rap, but they can't really regulate proactively so they have to then retroactively. And you're seeing a lot of this, DOJ, too. I mean, there's tons of money flowing into the government to start going back through some of these issues that have been kind of plaguing this system for a while. But it's not that well received either because of the sort of libertarian tint that a lot of this started in. If you go all the way back to reading the Bitcoin Whitepaper, you can realize that decentralized finance was that first iteration using the tech. And then, yeah, it's just interesting to think about, especially going back through time and how these different winters have sort of formed the next waves of all the projects and all the exchanges that have come out and kind of what those goals are. [00:13:57] I think Adam Draper, Tim Draper's son, put out kind of an interesting article where he said he had met Brian Armstrong from Coinbase and had discussed kind of what one global financial infrastructure would look like and that it would probably be built in these next few iterations. But in that article he put out or just blog, he also listed a couple of events that, not sure if you remember each of them, but in 11 Silk Road crashes, 13 Mt. Gox, 17 was the big ICO bubble, and I think we could probably cement FTX as a major crash that may drive another winter or at least some really maybe necessary introspection for maybe some of the venture dollars flowing into the projects just in terms of diligence. You could probably say that across a lot of the sectors, to be honest. But I think it's not just a result of the ecosystem but also in the financing of the ecosystem. [00:15:00] So those incentives are really important to remember because as purely sort of this libertarian sort of idealistic thing was promulgated, now all of a sudden, we've got a lot of mixed incentives going through how scaling the ecosystem's going to look. And maybe that's a natural segue into how you got interested in and how Fidelity Digital Assets started because that was back in 14, which I think was probably one of the earliest at least in kind of the institutional world. So would love to hear the history of that.[00:15:37] Brett Royer: Yeah, sure. Yeah. Fidelity's got a pretty good history here. Some of the initial blockchain research started in 2014 in our Fidelity Center for Applied Technology. And then soon after that, we launched that into a fully-fledged blockchain incubator in that group. And they were tasked with developing blockchain capabilities that Fidelity could use for future products and services. 2015, we started accepting donations in Bitcoin to our Fidelity Charitable unit. And then in 2018, Fidelity Digital Assets, which is the business that I'm a part of now, was born to offer custody and trading solutions for Bitcoin. And the thinking was really twofold at that point in time. One is we had done a lot of experimentation in some of those applied technology groups. And you can learn a ton from experimentation, but you really can accelerate your understanding of what will and will not work for customers when you are in the market trying to sell your service. Launching a business around these capabilities that we developed in-house really made sense. And then two, we believed that the institutional marketplace was really underserved by existing crypto providers at that point in time, right? Fidelity's got a really long history of providing services to institutions of all kind. We know the market well. We serve something like 4,000 institutions today through various. We understand what they demand on the traditional finance side of the house. And so, we believed we were in really good position to build a crypto platform that met the high standards of institutional rigor that those types of traditional financial services institutions would have.[00:17:26] Andrew Seski: Does Fidelity manage custody as well? I mean, I think that's probably one of the biggest issues across space still that kind of, I mean, maybe it gets talked about, maybe it doesn't. But yeah, I feel like custody solutions are one of the key aspects of being really successful as a provider in this space right now still.[00:17:44] Brett Royer: Yeah, it's a good lead-in because we really believe that everything starts with custody. So we really, we started the foundation of the entire set of capabilities that we developed in crypto, starting with ultra-high security custody. And what we utilize offline voltage storage for the cryptographic key material and then add our own sort of special Fidelity additional layers of securities and controls that you'd expect from an institution that provides custody for $10 trillion in customer assets across the enterprise. And then from there, we built some of our other capabilities, right? So started with custody, but then we said it makes a lot of sense to layer on a trading capability that settles directly to that cold storage custody solution. And so, we developed our own multivenue, smart order routing trade platform that again automatically connects and settles to that custody solution. And then, we wrapped it all up with a white-glove service model, with trading and transfers available 20/7 and service availability 24/7 to provide really that high touch that institutions expect. And then on top of that we try to seek all the assurances we can from both a regulatory standpoint and a control standpoint. So we went out and we received Limited Purpose Trust Company Charter from New York, which is really essentially the highest standard for a crypto service provider that we have in the US. [00:19:24] Andrew Seski: I can only think of one other. And if people are really conscious, they'll go back through the podcast and realize that was the only other person or only other representative of a group who can call themselves a trust company and some of these white-labeled solutions. So we'll see how savvy some of our listeners are if they can figure out that there's only, I think there may only be one other trust company, technically. But yeah, I love the fact that Fidelity's taken all of the actual steps to, I mean, that doesn't sound like there's a single beat missed from starting. [00:19:56] And I also love at some point in the conversation, we don't have to spend too long on it, but the role of trust I think is really an interesting one because I think in the institutional-grade solutions that we're talking about, no one's going to manage their own private keys. No one's going to do their cold storage. Yet it's a little bit, I don't think it detracts at all personally from the environment, but to rely on a major institution as an intermediary while discussing blockchain, smart contracts, all of this intermediating technology, it's interesting that we in this time and age are still dealing with trust issues and security issues. And a lot of it's still complex. Personally, I don't think it again detracts from the ecosystem, especially in the institutional side, to have these solutions. I actually think it's generally positive for the time being. 'Cause like you said, the early iterations of the Digital Assets arm was, we got to be able to feel it, understand it, to be able to grow it, to be able to iterate on top of it, to be able to build new products to service the environment. But kind of curious as to how you feel about all of that. And again, we probably should step back into how you got interested in the space. And you've been with the Digital Assets group for a long time now, too, right? [00:21:19] Brett Royer: Yeah, since 2019 I've been with the group. So I'll start there and then I'll go to the sort of philosophy and some of the things you talked about in terms of self-custody. Yeah. So I guess I got interested in a similar way to a lot of others. On the personal side, sort of exploration of trading and starting to mess around with some crypto assets in my personal account, I had the benefit of, at the time that I was happening to look for the next role, we had sort of just spun up this Fidelity Digital Assets unit, and I got to see Tom Jessop, who currently is the head of the unit, present out on some of the thoughts in the direction that we wanted to go with it. And at that point in time, they had a part-time CFO who was supporting the unit like as 25% of their role. The unit was only 70 people at that point in time, but it was at the point where I think there was a recognition that it was going to be an area of growth and needed the full-time attention of a full-time CFO. So things sort of lined up well in that way. I expressed interest both from a crypto standpoint as well as stepping into this role, I had to be willing to sign up for being an army of one for some period of time. And that I think that's probably familiar and true for a lot of startup CFOs. But I guess a little bit unique from the perspective of working in a really large company like Fidelity going from managing a decent size group to wanting to take on this role and needing to sign up for the idea that I was going to be an army of one for a while and that was going to be a very different sort of set of responsibilities. But in my mind why it was really attractive to me and it has played out fantastically for my career development, just staying engaged and interested in what I do every day is the breadth that you're able to get from stepping into that role is again sort of a growth business CFO within a much broader organization, right? That manifested itself in a couple of ways. I think one, probably a lot of your CFOs don't even think twice about this because it's the standard way you operate if you're a standalone business unit. [00:23:33] But coming into Fidelity, a lot of business unit finance folks don't spend a lot of time at the legal entity financial level, right? So thinking about a big corporation, you don't need to set up a new legal entity every time you set up a new product line or business unit, right? So a lot of times there's just a disaggregation of how you think about finance within your unit versus how things are done at the legal entity level. But what this role presented me an opportunity to do was to care about both because crypto's unique in its regulatory structuring, so we needed to set up a separate legal entity to be the service provider for crypto services to our institutional customers. And so, we did set up that separate legal entity and then in fact, over time, grew that into two legal entities. So we now have a legal entity in the US and we've got a UK-based legal entity that services non-US customers. And so, from a career development standpoint, right, that was important to me to be able to have that sort of full end-to-end ownership of the finance function, which included caring about audits and signing off on the financial statements, caring about balance sheet and capitalization, caring about regulatory capital and how you handle planning for what can be a pretty volatile environment in terms of customer interactions that impact your regulatory capital on a day-to-day basis.[00:24:56] So all that was really interesting and exciting to me when I looked at the opportunity. And it's played out really well. So I appreciate all the experiences that I've been able to get. And that's the risk that I was taking up front, banking on the idea that I'd get that broad exposure starting off with an army of one. Obviously, now the business has progressed. We're gonna be north of 500 people at the end of the year. So it's been a great evolution. [00:25:25] Andrew Seski: So and the idea, it's interesting, I was actually, when I was asking the question around trust, I was actually rereading a quote from Abigail Johnson talking about kind of the earlier stages of her kind of obsession with trying to figure out the full tech stack, which I thought was really, really cool. And kind of her first, one of her comments was starting with custody solutions seemed to tie antithetical to the technology, which I thought was a great comment on, I just love the approach. She basically came out to say Fidelity's had this long, privately owned success for generations due to in part contrarian thinking. And when people are running for the door, being able to have the wherewithal, the confidence, and the kind of long-term approach to nascent technologies and industries to be able to double down and really learn and feel all of that. So that's kind of where that trust question was coming from.[00:26:24] So I mean, it's nice to have somebody who's kind of leading the charge with so much thoughtful consideration in the space and where it makes sense for Fidelity to provide support versus how to push the industry forward and kind of just a nice patient approach. Especially as you said in terms of kind of the volatility of the space where all of these winters and kind of crashes are happening at so much faster of a clip. It takes a ton of patience and a ton of maturity to go through the volatility and be able to express what your priorities are maybe in a time where there's a lot of value loss at the time. So yeah, that's kind of where that was stemming from. But I do think it's super interesting that the group has continued to expand so rapidly. I think there was a comment in that article, too, that one of the first offerings was just Bitcoin and 401ks. Is that right? Does that sound? Yeah. I'm not sure how long ago that was, but I think that probably spurred a ton of interest, too.[00:27:29] Brett Royer: Yeah. Yeah, that's recent. So yeah, definitely a little bit of a response to sort of marketplace demand there. I think that the 401K unit just continued to hear a lot of interest from planned sponsors and having a product that could gain their participants' exposure to digital assets. And so, this was really in response to that and we think a relatively innovative product that gives those who are seeking a way to allocate a certain proportion of their retirement assets to digital assets. So yeah, certainly, that was a great example of a way that we think about the capabilities that are being developed within my Fidelity Digital Assets unit, potentially being used in other ways over time, right? [00:28:25] So I think from a long-term philosophy perspective, we started this unit and wanted to build the core set of capabilities. We went direct to the institutional market. But I think part of the vision always entailed the idea that over time, we expect the digital assets will begin to look and feel like any other asset class to investors. And so, we wanted to build those set of capabilities and then when the time is right and when the demand is there and when the regulatory environment is right we fully expect that we'll be able to provide digital asset services to an increasing number of customers that we touch again in the fullness of time.[00:29:08] Andrew Seski: Sweet. Well, I'd love to take a quick step back and run through a few of the questions that I really like to indulge in most of the podcast for continuity's sake. But would love to hear your perspective on just a personal definition on what you'd consider a modern CFO today. Maybe some of the characteristics that embody a modern CFO or maybe some things that modern CFOs should have on their radar that they don't today. Maybe we just start there. [00:29:39] Brett Royer: Yeah. When I think about the CFO role now, I think about the CFO role really broadening in the context of the organization, right? So I always like to aim to be viewed as a business person first who happens to know a lot about the finance of the business versus a finance person who happens to know a little bit about how the business is run. And what I mean by that is it's not okay for the modern CFO to be a passive observer to business activities and just report out on how things are going or how they went, right? The days of business leaders making decisions on gut and experience are largely gone, right? Virtually every company in the world now has a data-driven decision-making mindset. And so, the modern CFO really needs to be deeply engaged in the decision-making activities of the business, both in traditional finance terms, so P&L, NPV, IRR, return on capital, but also the nontraditional finance terms, right? They need to understand both financial and non-financial data. They need to understand how those interplay between each other and then how all of your data can be used to derive insights and make better decisions.[00:30:51] And then lastly, I guess one of the things I think a lot about is how I think the CFO role probably needs to be more willing to step outside of the traditional CFO swim lane when necessary to help the business in new and unique ways. So at my very first job out of undergrad, they taught all the incoming analysts that you are literally not allowed to say "That's not my job." Like that's a phrase you are not allowed to say. So I've carried that kind of philosophy with me throughout the rest of my career, right? And I think some of the most meaningful experiences that I've had were not handed to me in a job description or given to me by a manager. But they were formed by me raising my hand or asking a question or, in some case, just starting to do something in an area where there was a gap or an opportunity that wasn't being addressed. And I found that there are very few managers who will take issue with someone taking the initiative to just go ahead and solve a problem without asking, as long as it's not too far outside of the realm of your role. So that's another piece of the mindset that I think is important is willingness to sort of adapt and evolve around the edges some of the things that the CFO can be involved in and help the business improve upon. [00:32:06] Andrew Seski: I really appreciate that. And I typically ask people to hit that back 30-second button a few times when I hear really great advice. And I think anybody who's aspiring to the CFO role or is in their first time CFO role should really consider that advice and take it to heart. I think that was really well articulated. I appreciate that, Brett. I want to talk a little bit about 2023, the next 12 months. What's on the horizon for you and for the Digital Assets group? What's top of mind? What are you most focused on trying to build right now? [00:32:39] Brett Royer: Yeah. So certainly in general, focused on new opportunities to serve the rest of the Fidelity enterprise in terms of crypto capabilities where appropriate. From a finance team perspective, one of the things I've been spending a fair amount of time on is actually preparing for crypto tax regulations. So maybe a little bit esoteric in nature but I think this is an area where crypto is going to catch up to traditional financial services and there's obviously already been some indications of some rules to come. But this is sort of one of those areas where I talk about having the opportunity to raise your hand and take on some new responsibility sets. So as we anticipated that there was going to be some new requirements around crypto tax reporting in the not too distant future we started to work on what that would look like. And I've actually started to build out a team that's going to help us in Fidelity Digital Assets, prepare for any requirements which are going to be defined and we expect that this'll look a little bit more like a traditional set of brokerage reporting requirements, right? So I think in the future, you should expect to get something that looks like a 1099, multiple different kinds of 1099s from your crypto services provider. And that's a big initiative for the government and the IRS is I think starting to bring some of these things back under the existing frameworks and umbrellas where they make sense. And certainly the expectation is that crypto is not a tax-free realm. And so, this is just going to be one step in the direction of bringing crypto up to par with the rest of financial services. And that's an area where I think we'll spend a lot of time and focus on getting ready for that over the next 12 months.[00:34:23] Andrew Seski: Yeah. And for those listeners who don't know, the IRS received an $80 billion budget over the course of last summer. So this is not an "if" but "when." So I think Brett makes a really good point just to highlight the fact that this taxable ecosystem it's already here. So having the foresight and wherewithal to understand that the IRS is going to be pretty active in the crypto space I think is just good practice. And we've seen these iterations through the idea, and we're still going through this. I think that there's, we're going to see what happens with how securities law interacts with the crypto space. And there are some ongoing conversations with the SEC. And it's just, I think it's just part of the space and how early we, it's just good representation of how early we are still. So I think it's smart to have a good sense of the regulatory environment, but then also likely seek out counsel where appropriate to ensure that you're maintaining compliance because the worst part of some of these crashes is that they're riddled with some of the greed that we talked about earlier. And there are some consumers who aren't well protected against some close to two or considered fraud or financial crime, which really sets back the interest in the space and the participants. So wanna do the best we can to have thoughtful conversations and have thoughtful regulations around all of this. So I think that's a great initiative for the year to come. I think it'll continue to drive the space forward, so I really appreciate that. [00:35:54] I'd love to drive into one of my favorite parts of the podcast and talk about one of the things that you feel may be underestimated in the world today, and if there's anyone currently addressing that that topic or space. But love to drive into this 'cause it's always really interesting given the unique vantage points of the people we talk to on this show.[00:36:14] Brett Royer: Yeah. I'll give you a quick hit. I don't have the background to fully understand all the implications of this. But one thing that I look out at now, especially in a post-pandemic world and how globalization of the workforce and the virtual environment, it will sort of impact staffing and how we build out teams. I think about what globalization has already done for an economy like the Indian workforce, right? And you think, you look forward and you say, do you see things like that continuing to evolve and emerge? Can you imagine what that looks like for the Chinese workforce over time, right? [00:36:52] I think there's already been pockets of the ecosystem where there have been movements and certainly traditional product manufacturing and those types of roles. But even if you look at the service economy over time, right, you think about the amount of people that could be utilized and globalized in terms of the workforce for any company in the world now. One, I think it really just expands your access to talent and it can go anywhere. And then two, I think it really potentially changes the opportunity set for people in some emerging market countries, right, where normally, prior to the world sort of going in this totally virtualized environment, I think people's opportunity set for work was more limited to the localized opportunities. And I think one of the things we're going to continue to see emerge is that just that globalization of opportunity set. And I think that can have really, really massive implications for what teams look like in the future and what workforces look like in the future, right? Even thinking back to pre-pandemic, I think Fidelity has had a large set of teams in India and other parts of the world. And I think there was a little bit more of a mindset of like passing things along over time zones, right, and not having that true end-to-end connection. But now, you look at the way that teams work. And there's no concept of passing off. It's sort of a continuous like evolution and discussion of teams that work across the globe together on the same things at the same time with a connected mindset. And I think that's gonna be just a massive change that will continue to evolve over time. I see huge opportunities for certain parts of the world to start to really step in and have more of their workforce contribute to sort of that globalized service economy. [00:38:44] Andrew Seski: Yeah, absolutely. A bold case on productivity and innovation for sure. Do you see that happening at all internally with your groups or is the Digital Asset group global and partially remote? Have you had to deal with that as an army of one to 500? [00:38:59] Brett Royer: Yeah, definitely. I mean, the good news is that our unit was sort of al already global, even pre-pandemic. The nature of crypto is that the expectation was over time that we were going to get closer and closer to sort of 24/7 availability because the crypto market doesn't sleep, right? And in order to do that successfully, you need to have a geographically distributed workforce. And so, we had already made a lot of efforts to do that even pre-pandemic and. So I guess in some ways, we were somewhat uniquely prepared for this sort of scenario because if you're used to working in virtual teams anyway before you're required to, it's just sort of more of the same. It's just an extra dose of it. So yeah, I'd say we were somewhat uniquely prepared for this evolution. But I think even still, it's going to continue to evolve over time and we're going to see more and more of it, even where I think still predominantly US-based but I think you could see that change in the next 10, 15 years where teams could look a lot more like the distribution of the population of the world over time.[00:40:11] Andrew Seski: Yeah, that's great. That's a really interesting comment. I really appreciate you sharing that perspective. I was thinking, this is kind of a random thought here, but as I was preparing for our conversation today, I went through a bunch of the kind of my go-to resources for preparing for interviews and thinking about crypto and thinking about the global marketplace, and I stumbled across a really great interview with David Rubenstein and Abigail Johnson that I highly recommend people check out if they're interested in Fidelity's history in general. And it just made me think to ask in a world with so much information, and we were chatting about FTX prior and the world of Twitter being where a lot of people are getting information from, I was just kind of curious. I know Fidelity puts out really high-quality research and reports and there's a lot of marketing and media that goes into trying to educate participants. But I was kind of curious as to where you go or if you've read anything maybe even outside of financial news or crypto news. Just how you're receiving your information and if you're reading anything or listening to any podcast that listeners would value from. [00:41:19] Brett Royer: Yeah, it's funny. I don't have a whole lot to add. I use all the same sources I think that you mentioned. I think there's a lot of great resources and people who are willing to give away their opinions for free on crypto Twitter. At the same time, I like to stay away from that to stay in the echo chamber sometimes because I do think that it's always good to have perspective. And I think if you go too deep down the rabbit hole sometimes and you're really embedded in some of those echo chambers, you lose sight of what's sort of going on in the broader world around you in financial services. And so, I always try to take, I love learning new things about crypto and I love going deep and understanding things at a pretty fundamental level. But at the same time, I want to make sure that I'm balanced enough to not get too focused on crypto as the end-all be-all and always bring it back. I'm sort of pragmatic in how I think about how crypto services can be used for our customers over time. And I tend to take the approach of, I think these things are going to happen more, a little bit more gradually and we're going to find better and better use cases for customers to interact with digital assets versus the extreme perspective that crypto's going to eat the world and be the only thing that's left from a finance perspective so.[00:42:43] Andrew Seski: I think that's probably a pretty nuanced and balanced approach to learning. I think anyone who oversimplifies is sort of missing it still. It's still a pretty complicated scenario with, again, as I mentioned, a lot of kind of new and emerging incentive structures as to how products are being built.[00:43:01] So I did want to take this opportunity also to give you a chance, and it sounds like the team is probably still expanding. Would love for you to share how people can learn more about Fidelity Digital Assets or maybe even get in contact with your team to learn more, maybe check out some of the Fidelity careers and just make sure that people have an opportunity to continue to see Fidelity Digital Assets as one of the market leaders having been in the space for a good amount of time here.[00:43:30] Brett Royer: Yeah, absolutely. Our human resources and talent acquisition teams have done a terrific job. I can provide you separately with a link. But I think we now have within our sort of Fidelity jobs portal, there's the ability to click in and see the roles that are dedicated to Digital Assets within Fidelity because it's been such an area of growth for us. We really wanted to focus on reaching out to those people who are interested in it, not only from the perspective of those who are experienced or have crypto experience from prior roles but also those who are interested in learning and want to sort of come in and take the opportunity to have a place like Fidelity to take their first shot at crypto. So yeah, happy to share that. It's definitely been a huge area of focus for us in what's been a competitive talent environment. We've seen some backing off and some other firms have some challenges from the personnel perspective. But I think it's still an environment where it is a challenge and it's something that we focused a lot on to get the right talent with the right mindset to combine sort of that crypto curiosity with some of the Fidelity philosophies that we think are still really important in any of our businesses, even on the crypto side, which is customer-first mindset, customer obsession, doing things the right way.[00:44:57] Andrew Seski: Well, in my opinion, that's a very organic and really, really high value marriage of Fidelity values and a nascent emerging technology like the blockchain space. Brett, I hate the fact that we have to start wrapping up, but I wanted to say thank you so much for being on The Modern CFO today. I really hope we have the opportunity to stay in touch as your group continues to grow. And just wanted to just say thank you one more time so. [00:45:24] Brett Royer: Appreciate it, Andrew. Nice to talk to you as well. [00:45:26] Andrew Seski: Thanks

Fidelity Investments is launching a commission-free crypto trading product for retail investors. The firm, one of the largest brokerages in the world handling $9.9 trillion in assets, opened an early-access waitlist to users Thursday morning. The service, called Fidelity Crypto, will allow investors to buy and sell Bitcoin and Ethereum and use custodial and trading services provided by its subsidiary Fidelity Digital Assets. However, they're already showing massive red flag signs of typical predatory bank practices. Meanwhile, The largest crypto exchange platform by volume in the world, Binance is reportedly looking into the benefits of acquiring banks.~This episode is sponsored by Binance.US~Binance.US ➜ https://binance.pxf.io/pbn

Ben and Michael are joined by Jack Neureuter, Fidelity Digital Assets Research Analyst, and Ramine Bigdeliazari, Director of Product for Fidelity Digital Assets to discuss Fidelity's relationship and interest in crypto, proof of work vs proof of stake, crypto winter, and much more!   Find complete shownotes on our blogs...  Ben Carlson's A Wealth of Common Sense  Michael Batnick's The Irrelevant Investor  Like us on Facebook  And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. 

On today's show we welcome Chris Kuiper, director of research at Fidelity Digital Assets, based out of Boston. Chris joins host Colin Randall, director of research at Fidelity Investments Canada, to discuss all things digital assets. One of the most anticipated and significant events in digital assets relatively short history occurred in the early hours of September 15th. Dubbed the Merge, the event marks the Ethereum blockchain's transition move from a proof-of-work consensus mechanism to a proof-of-stake mechanism. Chris unpacks what this means, including how the Merge represents significant change in Ethereum's technical structure, its economics and environmental footprint, which some say will reduce the blockchain's energy consumption by more than 99%. Also, Chris and Colin discuss the differences between the Ethereum and Bitcoin networks, also what's driving the price drops in Bitcoin and Ethereum this year, and how cryptocurrencies could fit into a portfolio. Recorded on September 21, 2022. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics' Advisor Digital Experience Study.

Leading global financial institutions, including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial, have announced the formation of a compliant cryptocurrency exchange, EDX Markets, targeting United States retail and institutional investors. The consortium entailing broker-dealers, global market makers, and venture capital firms stated that the exchange aims to borrow some practices from the traditional financial markets. The exchange seeks to meet the increasing demand for cryptocurrencies among investors in the U.S. ~This episode is sponsored by iTrust Capital~iTrustCapital | Get $100 Funding Reward + No Monthly Fees when you sign up using our custom link! ➜ https://bit.ly/iTrustPaul

IN THIS EPISODE, YOU'LL LEARN: 01:54 - William Green's biggest lessons from interviewing Charlie Munger.07:23 - Why Nick Maggiulli opts for index funds over individual stocks.16:12 - What Alex Morris looks for in a quality company.27:46 - Why John Huber made Amazon his largest holding in his fund.36:34 - Preston Pysh's take on the current macro environment.49:51 - Dan Rasmussen's thoughts on diversifying a portfolio.01:08:29 - Why Fidelity Digital Assets believes Bitcoin stands above all of the other cryptocurrencies as a monetary asset.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESCheck out TIP's daily newsletter.Episodes mentioned:MI131: Richer, Wiser, Happier w/ William Green.MI157: Just Keep Buying w/ Nick Maggiulli.MI159: The Science of Hitting w/ Alexander Morris.MI165: Is FAANG the New Value w/ John Huber.MI138: Fiserv Deep Dive w/ Bill Nygren & Mike Nicolas.MI135: Bitcoin is for Millennials w/ Preston Pysh.MI139: How to Beat Inflation w/ Joe Brown.MI162: Is Now the Time to Own Gold w/ Tavi Costa.MI161: Building a Balanced Portfolio w/ Daniel Rasmussen.MI152: Bitcoin First & Fidelity Digital Assets w/ Chris Kuiper & Jack Neureuter.Get a FREE audiobook from Audible.Find Pros & Fair Pricing for Any Home Project for Free with Angi.Enjoy a simple, good tasting supplement that truly improves your health with Field of Greens! Get 15% off your first order and get another 10% off when you subscribe for recurring order with the promo code MILLENNIAL.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.Tell mom how much you love her—and make sure she hears it in crystal-clear audio quality, with Raycon.Combine hundreds of search filters to quickly find better leads, close more deals, and unlock your investing potential with the power of PropStream!Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Check out our favorite Apps and Services.Browse through all our episodes (complete with transcripts) here.New to the show? Check out our Millennial Investing Starter Packs.Support our free podcast by supporting our sponsors.Read this episode's transcript and full show notes on our website.Connect with Clay: Twitter See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

IN THIS EPISODE, YOU'LL LEARN:00:43 - Current issues we see in the current macro environment.07:46 - Why Bitcoin adoption is accelerating.09:32 - Why Bitcoin is so volatile.15:34 - What makes Bitcoin valuable.16:14 - What Bitcoin adoption has looked like over time.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESThe Bullish Case for Bitcoin by Vijay Boyapati.Learn why Bitcoin is so important at Looking Glass Education.Related episode: Bitcoin First & Fidelity Digital Assets w/ Chris Kuiper & Jack Neureuter - MI152.Related episode: Small Business Goes on a Bitcoin Standard w/ Kevin McGarvey - MI151.Preston's Bitcoin Fundamentals Podcast.Check out our Investing Starter Packs about business and finance.Find Pros & Fair Pricing for Any Home Project for Free with Angi.Push your team to do their best work with Monday.com Work OS. Start your free two-week trial today.Check out our favorite Apps and Services.Browse through all our episodes (complete with transcripts) here.Support our free podcast by supporting our sponsors.Connect with Clay: Twitter See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The original roundup cast return for a covid-stricken episode. In this roundup:  The boys are laid low with Covid (again!) Nic recounts his visit to Norwegian parliament Nic recaps the Oslo Freedom Forum Are we on the brink of L2 summer? Former Opensea PM is arrested on wire fraud/insider trading charges Is there an insider trading standard for non-securities? Korean prosecutors summon all Terraform Labs staff Biden admin looks to lower the emissions footprint of Bitcoin Two ways for the US Government to lower the emissions of Bitcoin Does banning an asset make it worth less? Do we need net neutrality for power? OneRiver's ETF application is denied How the SEC can unlock $6b worth of value to Bitcoin investors Crypto firms settle in for winter Fidelity Digital Assets is doubling their headcount Nic's affiliate merch scandal Sponsor notes: Subscribe to the Coin Metrics State of the Network newsletter

The billionaire tweeted Friday morning ET that merchandise for SpaceX, his space exploration startup, will soon be able to be bought with dogecoin, just as it can be for Tesla merchandise. The price of dogecoin jumped as much as 10% to nearly 9 cents immediately following the tweet, before recently settling to a gain of about 7.7%. Fidelity Digital Assets, a subsidiary of the financial services giant Fidelity Investments, plans to double its headcount this year to meet the growing demand for crypto trading from institutional investors, the Wall Street Journal reported on Tuesday. The business is planning to add 110 employees in tech roles, including engineers and developers with blockchain experience, Fidelity Digital Assets President Tom Jessop said, according to the report. The expanded headcount will be used to build infrastructure to offer trading of ether. Fidelity Digital Assets has hitherto offered only bitcoin (BTC) support. It aims to provide faster transactions and 24-hour trading support as well as compliance and tax-reporting tools. The One River Carbon Neutral Bitcoin Trust – a spot bitcoin exchange-traded fund (ETF) proposed by One River Asset Management – has been rejected by the U.S. Securities and Exchange Commission (SEC). The proposal to list on the NYSE Arca exchange lacks sufficient investor protections, the SEC said, which is similar verbiage used by the agency in denying other spot bitcoin (BTC) ETFs. One River submitted paperwork for the ETF in May 2021, and the SEC in March announced a delay in its decision. This particular spot ETF application differed from others in that One River pledged to buy and dispose of carbon credits to account for the emissions associated with the bitcoin in the fund.

Bitcoin and other cryptocurrencies are struggling as the Fed tightens monetary policies. Daren Fonda, crypto and finance editor at Barron's, and Chris Kuiper, director of research at Fidelity Digital Assets discuss what's next for digital assets in a tougher market for tech.

For centuries, gold has been a medium of exchange and treated as the most valuable asset all over the world. It has traditionally served multiple purposes like being used as a gift or traded as a commodity asset. The value of yellow metal has risen consistently for many decades now. Bitcoin, on the other hand, has witnessed a meteoric rise, breaching new records and scaling all-time highs. More investors and crypto enthusiasts are now comparing the two to assess the value they bring.Historically, gold has been considered a safe-haven asset. During a financial crisis or recession, the yellow metal has been often used as a hedge against stock market volatility. Bitcoin, meanwhile, has been dubbed “digital gold” in the past and it's a fair comparison with gold as they share similar characteristics.While Bitcoin may not be a safe-haven asset yet, it has the potential to become one, since it is expected to increase in value and retain it during times of economic turbulence owing to its uncorrelated status. In a study conducted by Fidelity Digital Assets, it was noted that eight in 10 investors surveyed felt digital assets (cryptocurrency, tokens, Bitcoin ETF, etc) have a place in their portfolio. In both the US and Europe, exposure to digital assets has increased year over year. Almost nine ..Etienne Goffin - Senior economist from Brussels, Belgium. He has a 10+ year career in the financial sector both within the public sector (Central Bank of Malta) where he was an innovation consultant and economic advisor as well as the private sector where he has worked as a banking consultant (Needle Strategy) with expertise in corporate financing, monetary policy, and business innovation. He advised both governments and fintechs globally. Etienne is also Senior Economist and a member of the public affairs team at OSOM. You can find him @EtGOFFIN on Twitter or at goffin.euSign up to OSOM!

This is Eric Golden and my guest today is Tom Jessop. As President of Fidelity Digital Assets, Tom leads Fidelity's effort to build a crypto custody solution for institutions. During our conversation, we discuss the use of custodians for blockchain assets, trends in client demand, and Tom's perspective as an incumbent attempting to build crypto-native capabilities. Please enjoy this conversation with Tom Jessop.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Coinbase Prime. Coinbase Prime combines advanced trading, battle-tested custody, financing, and prime services in a single solution. Clients have used our comprehensive investing platform to execute some of the largest trades in the industry because we are the only publicly-traded company with experience trading and custodying crypto assets at scale. Get started with Coinbase Prime today at coinbase.com/prime.   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes [00:02:06] - [First question] - Why would anyone need a custodian for digital assets [00:03:39] - Top reasons that clients choose Fidelity to manage their own custody [00:05:03] - Customer experience handing over their crypto assets to Fidelity  [00:08:40] - Building a business managing digital and physical risk [00:10:01] - Thoughts on the interplay between selecting a custodian and what their execution service options are [00:12:02] - Why there's such a lack of segregation compared to traditional markets [00:14:05] - The type of capital you'd need to pre-fund in order to trade multiple markets  [00:15:07] - Instant trade settlements and what it's like reconciling so many moving pieces in the cryptosphere [00:16:39] - How big Fidelity Digital is today and the growth they're seeing  [00:18:17] - How many different assets they currently custody today [00:19:12] - Thoughts on what assets are appropriate to custody for their clients [00:21:00] - What happens to the custodian and client if a cryptocurrency becomes recognized as a security on a regulatory level [00:22:13] - How much of his time is spent dealing with the ever changing regulatory landscape and where his focus is as of late [00:24:46] - His feelings on why the US seems to approach crypto regulation differently than other countries  [00:27:47] - Are we slowly getting to a better place with crypto regulators in the US? [00:28:49] - Defending cryptocurrencies to regulators against waves of negative press [00:30:42] - Moving from traditional finance to the crypto market and how to innovate in such a rapidly evolving industry [00:32:43] - The pros and cons of being a crypto custody startup [00:34:04] - How they acquire clients and market Fidelity [00:34:44] - Capital-backed assets and how relevant insurance is when choosing a custodian [00:36:24] - What he's been seeing on the product development side of this space [00:38:04] - Thoughts on third-party developers building on top of Fidelity [00:39:47] - The different types of clients Fidelity has and the competitive landscape  [00:41:14] - Whether or not there's a push from clients to become more involved in DeFi [00:42:49] - The biggest issues that Fidelity has to overcome to become a custodian for the 10 biggest crypto assets today  [00:43:15] - What a crypto custodian will look like a decade from now and aggregated asset management [00:47:05] - What he's most excited to see built over the next six months and six years 

IN THIS EPISODE, YOU'LL LEARN: 09:48 - Why Fidelity chose to offer services for Bitcoin only, and none of the other digital assets.13:47 - Why institutions are interested in buying Bitcoin for their company's balance sheet.23:45 - Why Bitcoin should be considered separately from all other digital assets from an investment standpoint.29:00 - Why decentralization and network effects are critical aspects of Bitcoin's value proposition.41:07 - Chris and Jack's thoughts regarding common criticisms of Bitcoin.44:24 - Things happening in the Bitcoin space that makes Chris and Jack most excited about its future.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESRobert and Clay's tool for picking stock winners and managing our portfolios: TIP Finance.Check out the Bitcoin First Whitepaper.Check out Fidelity Digital Assets' Website.Follow Fidelity Digital Assets on Twitter.Related WSB Episode: BTC064: Bitcoin and Fidelity's Director of Global Macro Jurrien Timmer.Related Episode: MI128: Why Buy Bitcoin w/ Andy Edstrom.Check out our Investing Starter Packs about business and finance.Support our free podcast by supporting our sponsors. Find joy in comfort with Faherty. Use promo code WSB to snag 20% off all your new spring staples!Eat clean 24/7, with fresh—never frozen—prepared meals that are so delicious with Factor. Use code wsb120 to get $120 off over your first 5 weeks of meals.Join Commonstock's community of engaged investors to access exclusive financial data, follow and chat with fellow investors, get alerts when friends buy or sell, and make trades directly through the platform.Loansteady is here to find a mortgage that works for you, not the other way around. They are waiving all lender fees for listeners of Millennial Investing. Important terms and conditions apply. Loansteady LLC, All rights reserved, NMLS# 1701910, Equal Housing Lender. For more licensing information, please visit https://www.loansteady.com/licenses-and-legalShake up your protein Ritual and get 10% off during your first 3 months today!Make documents, ask a lawyer your legal questions, and sign contracts on the go with Rocket Lawyer.Have a business checking that's built for you, will go the distance with you, and admires your brave - Novo. The Investor's Podcast Network listeners get access to over $5,000 in perks and discountsCanada's #1 employee benefits plan for small businesses! The Chambers Plan evolves with the way you work and live while keeping the rates stable. Opt for the simple, stable, and smart choice for your business.Find Pros & Fair Pricing for Any Home Project for Free with Angi.The interval fund, a breakthrough innovation. Only at Mackenzie.Get insights on how to plan for your financial goals with The Globe and Mail. Listeners get a special digital subscription rate for unrestricted access to everything.Read this episode's transcript and full show notes on our website.Connect with Fidelity Digital Assets: Website | Twitter Connect with Clay: Twitter See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode we detail the on and off chain news surrounding bitcoin for the past week. We cover the the Fidelity Digital Assets report that was released stating bitcoin first, ARK invest calling bitcoin a monetary revolution, the proposed bill for eliminating capital gains on transactions of less than $200 in bitcoin, DeFi getting REKT yet again, certain states becoming bitcoin friendly, and much more! Our guest Dan Wedge @WedgeSocial on Twitter comes on to argue how ketchup chips are actually good, tells us about himself and his background in equities, and how he found bitcoin. Lastly, we detail our thoughts on the bitcoin price and on chain metrics we are seeing. Keep up with everything we've got going on by following or subscribing to the following: Substack: https://greencandleinvestments.substack.com Twitter: https://twitter.com/Greencandleit YouTube: https://www.youtube.com/channel/UCdvC14iR8V7MedS7ArKHNCA Follow our guest Dan Wedge: https://twitter.com/WedgeSocial --- Support this podcast: https://anchor.fm/greencandleit/support

Today we have a guest who is an expert from both the traditional financial services world and the crypto world, which has equipped him with the ability to bridge the two worlds and build onramps into the crypteconomy.Tom Jessop, who heads Fidelity Digital Assets, is an expert in market structure, capital markets, and crypto.There are few who have seen as much as him when it comes to the evolution of market structure.He's an OG FinTech investor, investing into FinTech before it even had that moniker.He has a knack for finding trends before they are big. He did it with FinTech – and more recently he's been on the forefront of another major trend: crypto.He's the President of Fidelity Digital Assets, where he's responsible for helping one of the world's largest asset managers build out a full-service enterprise-grade platform for digital assets.Fidelity has long been a pioneer amongst financial institutions in crypto. They started R&D efforts on crypto in 2014, started mining bitcoin in 2015, and tested their first wallet and storage solution with employees in 2016.With over $11 trillion in client assets under administration and over 2.4 million trades processed per day, Fidelity's participation in the cryptoeconomy is critical to onramp large financial institutions and wealth managers into the space. Tom leads a team that is in large part responsible for making this happen.He was previously the Head of Corporate Business Development at Fidelity, where he was responsible for identifying and executing strategic opportunities.Tom joined Fidelity from Chain, a leading provider of enterprise blockchain solutions to global financial institutions.Tom previously had an illustrious career at Goldman Sachs, which culminated with a role as Global Head of Technology Business Development, where he was responsible for investing in and partnering with early-stage tech companies across blockchain, AI, and cybersecurity. Tom was also a founding member and senior leader at Goldman's Principal Strategic Investments team, investing in the likes of Circle Financial, Kensho, Digital Reasoning, and DataFox.Tom and I had a fascinating conversation about how we can take experiences from the evolution in traditional market structure and apply those learnings to crypto market structure and DeFi.Tom is such a smart, thoughtful, savvy investor and company builder. And he's an even better person who treats everyone incredibly well.Thanks Tom for coming on the Alt Goes Mainstream podcast.