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3 episodes with jump crypto
2 episodes with jump crypto
2 episodes with jump crypto
2 episodes with jump crypto
2 episodes with jump crypto
Tune into this episode of the Security Token Show where this week Herwig Konings, Kyle Sonlin, Nico Pantelis, and guest contributor Dr. Bob Murphy from infineo cover the industry leading headlines and market movements, including how tokenized stocks are taking off, IP tokenization, and more RWA news! This week Jason Barraza had the opportunity to interview Jerald David (JD) from Arca Labs and Alan Konevsky from tZERO to talk about their new Lynq Network, Crypto.com joining as their latest launch partner, and what it means for the industry. JD and Alan also share one more surprise launch partner! Dinari's CEO Gabriel Otte also came on for an interview around their recent $12.7M Series A round, how they'll be expanding, insights on where there's demand for tokenized US stocks, arbitrage opportunities, and more. Company of the Week - Herwig: Beyond, Inc. Company of the Week - Kyle: Permuto Capital The Market Movements 1. GENIUS Act Did NOT Pass! 2. Securitize Receives Investment from Jump Crypto: https://news.bitcoin.com/jump-crypto-takes-strategic-stake-in-securitize-to-bolster-blockchain-finance/ 3. Beyond to Close Overstock IP Token RegCF Early: https://investors.beyond.com/news-events/press-releases/news-details/2025/Beyond-Inc--Announces-the-Early-Closing-Date-of-the-Overstock-O-Digital-Asset-Security-Offering-on-the-tZERO-Platform/default.aspx 4. Beyond Doubles Down With Second Offering: buybuy BABY IP Token: https://investors.beyond.com/news-events/press-releases/news-details/2025/Beyond-Inc--Announces-the-Launch-of-the-BABY-Digital-Asset-Security-Offering-on-the-tZERO-Platform/default.aspx 5. Robinhood to Tokenize American Stocks for Europe: https://crypto.news/robinhood-plans-tokenized-u-s-stocks-for-european-investors-report/ 6. US Treasury's TBAC Releases Report on Stablecoins and Interest: https://www.ledgerinsights.com/us-treasury-report-on-stablecoins-mulls-upside-of-offering-interest/ 7. Stripe Expands Stablecoin Accounts to 100+ Countries: https://cointelegraph.com/news/stripe-announces-stablecoin-financial-accounts The Token Debrief 1. Inveniam Acquires Data Company Tractiv for Private Markets AI: https://www.inveniam.io/resources/inveniam-acquires-tractiv-to-enhance-enterprise-grade-ai-technology-for-private-markets 2. BVNK Receives Investment from Visa as Stablecoins Heat Up: https://www.forbes.com/sites/danielwebber/2025/05/06/visa-invests-in-bvnk-in-powerful-validation-of-stablecoins-future/ 3. Colb Asset Raises 7.3M Seed Extension: https://crypto.news/colb-asset-raises-fresh-funds-to-bring-pre-ipo-equities-on-chain/ 4. Superstate Announces Tokenized Equities Platform “Opening Bell”, SOL Strategies to Offer First Token: https://superstate.com/blog/superstate-reveals-opening-bell-public-equities-onchain 5. RedSwan to Tokenize Altus Opportunity Fund on Hedera 6. Permuto Capital Amends S-1 Filing to Tokenize MSFT: https://blockchain.news/flashnews/s-1-filing-for-tokenized-msft-stock-major-step-for-crypto-equity-integration 7. Project Ensemble by HKMA Sees Northern Trust Join Carbon Credits Pilot: https://techbullion.com/northern-trust-joins-project-ensemble-to-pilot-tokenized-carbon-credits/ 8. Citi to Partner with SDX as Custodian and Tokenization Engine: https://www.citigroup.com/global/news/press-release/2025/citi-and-sdx-join-forces-to-unlock-access-to-tokenized-private-market-assets-for-global-issuers-and-investors 9. New Kyrgyzstan Gold-backed USDKG Planned for Q3 Launch: https://coinedition.com/kyrgyzstan-to-launch-gold-backed-usd-pegged-stablecoin-usdkg-by-q3-2025/ 10. Deutsche Borse Integrates FX Platform into Digital Exchange: https://www.ledgerinsights.com/deutsche-borses-360t-unveils-3dx-digital-exchange-for-crypto/ 11. Onchain Risk Detection: Tether's Hadron and Chainalysis: https://tether.io/news/hadron-by-tether-integrates-chainalysis-sets-new-standard-for-compliant-tokenization/ 12. Kinexys by J.P.Morgan Works with MIT to Explore Token Standards Banks: https://www.ledgerinsights.com/standards-for-bank-tokens-proposed-by-kinexys-by-jp-morgan-mit/ 13. Kinexys Digital Payments Expands to MENA, Supporting 8 Banks in Region: https://www.theblock.co/post/352722/jpmorgans-blockchain-unit-mena-expansion 14. ECB Launches Innovation Platform for Euro CDBC with 70 Organizations: https://www.ledgerinsights.com/70-organizations-join-ecbs-digital-euro-innovation-platform/ 15. Malaysia's Securities Commission Introduces RWA Regulatory Framework: https://www.ledgerinsights.com/sc-malaysia-proposes-plans-for-tokenized-capital-market-products/ 16. Custodia Teams Up With Vantage for Onchain Cross-Border Deposits: https://www.ledgerinsights.com/custodia-vantage-enable-cross-border-tokenized-deposits-on-ethereum/ ⏰ TABLE OF CONTENTS ⏰ 0:00 Introduction 0:16 Welcome 1:07 Market Movements 29:30 STS Interviews: Lynq Network 36:52 Token Debrief 47:47 STS Interviews: Dinari 57:26 Companies of The Week
⚠️ Disclaimer:This episode was entirely AI-generated using Google's Notebook LM. Please note that Google's Notebook LM has been criticized for being extremely left-leaning and displaying strong bias, which is inappropriate for AI-driven content creation. Listeners are encouraged to remain aware of potential biases and consume information critically. Welcome to another episode of Blockchain DXB, where we explore the latest developments in cryptocurrency, blockchain, and artificial intelligence. This episode is part of the Blockchain DXB - AI Series, created entirely with AI using Google's Notebook LM technology. Here's what we'll be discussing: Overview of the OP_CAT protocol and its potential to revolutionize Bitcoin. Features like BTC-stablecoin swaps, DeFi applications, and cross-chain bridges. Commentary on the opportunities and challenges of implementing this upgrade. Insights into the historical relevance of OP_CAT, initially proposed by Satoshi Nakamoto. Montenegrin Justice Minister Bojan Božović's decision to extradite Terraform Labs founder Do Kwon. Details about the 2022 Terra/Luna stablecoin collapse and Kwon's legal battle. SEC's $123 million settlement with Jump Crypto's subsidiary, Tai Mo Shan. For official details, check out the statement: Shortened Link. Overview of Bitwise's ETF focusing on companies holding over 1,000 BTC. Key companies included: MicroStrategy, Marathon, Tesla. Competitor Strive's similar filing and the broader implications for Bitcoin adoption. Insights into the memecoin market's rise and subsequent decline. Highlights of extraordinary gains, such as a $3,000 investment turning into $46 million. Analysis of slowing demand and its impact on the market. For more details, visit: Shortened Link. Mangrove Conservation: Environment Agency – Abu Dhabi's partnership with Nabat to restore mangroves using AI. i-ESG Expansion: Establishing a presence in Abu Dhabi to promote ESG innovation in the Middle East. This episode provides: A deep dive into Bitcoin's evolving technology and its potential for DeFi. Critical updates on high-profile crypto legal cases. The latest trends in corporate Bitcoin adoption through ETFs. Analysis of the volatile memecoin market. Insights into the UAE's groundbreaking AI and sustainability initiatives. Stay updated on the latest in blockchain, crypto, and AI. Follow Blockchain DXB on all major platforms. Thank you for tuning in! Don't forget to subscribe, rate, and review Blockchain DXB To support this channel: https://www.patreon.com/BlockchainDXB ⚡ Buy me Coffee ☕ https://www.buymeacoffee.com/info36/w/6987 ⚡ Advanced Media https://www.amt.tv/ ⚡Spartan Race Trifecta in Dubai https://race.spartan.com/en/race/detail/8646/overview For 20% Discount use code: George20 ⚡ The Race Space Podcast
Is nuclear on the rise? This week, Autonomous Technology and Robotics Director of Research Sam Korus and Associate Portfolio Manager Nick Grous are joined by ARK Research Associate Lorenzo Valente to discuss Jump Crypto and electricity cost declinesIf you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn't mean we don't have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we're sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we'll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK's quick takes on what's going on in tech today.Key Points From This Episode:Is crypto unwinding?The economics of nuclear energyFor more updates on Public.com:Website: https://public.com/YouTube: @publicinvestTwitter: https://twitter.com/public
On this episode we're covering a multitude of topics surround recent crypto market activity including Japan's sell-off, Solana FUD, and political events.~This episode is sponsored by Margex~Get $50 Dollar Bonus for signing up + another $50 once you deposit $100Use code: "PBN20" to get a 20% bonus on deposits!➜ https://margex.com/en?rid=9869052200:00 Intro00:24 Sponsor: Margex01:08 Japan waves the white flag02:27 Bloomberg - Was this the right move?04:52 Jump Crypto still dumping05:52 Cathie Wood talks Jump Crypto09:22 Jump Crypto situation is FUD?11:12 The ETH vs SOL Trade12:36 More bad news for ETH13:06 BlackRock to expand ETH investment13:46 Wire houses begin promoting ETFs15:50 Crypto4Harris17:08 David Plouffe talks about regulation & crypto19:40 Kevin O'leary talks Kamala22:23 Trump vs Kamala22:44 Big DeFi Announcement23:46 Outro#Crypto #Bitcoin #ethereum~Massive Buy Opportunity?️
Eric Chen, the visionary behind Injective, has a remarkable story that spans continents and industries. From his early years in China and Colorado to his ventures in the crypto world, Eric's journey is a testament to resilience, innovation, and a forward-thinking mindset. His company, Injective, has attracted funding from top-tier investors like Jump Crypto, BH Digital, Block Tower Capital, and Pnyx Ventures.
In this episode, Austin visits Jump Crypto's office in Chicago (The Pit) to talk about Firedancer, Solana's second independent validator client. They discuss its roadmap, its rollout, and the ways in which it will optimize and improve upon the architecture of Solana's existing client. Kevin elaborates on his unconventional views on programming languages, scaling solutions, data flow optimization, and much more. DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers' own personal opinions and do not reflect the opinions of any entities.
In this episode, Austin talks with Nicolas and Conor from Cordial Systems, an enterprise custody solution initially developed for Jump Crypto. They discuss how to build a self-custody solution that serves crypto-native businesses without compromising the security standards of traditional systems. Nicolas and Conor explain the limitations of current enterprise custody solutions and how Cordial Systems addresses these issues. They also go into detail about their approach to building a distributed policy layer and Cordial System's architecture. DISCLAIMERThe content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers' own personal opinions and do not reflect the opinions of any entities.
Solana +600% no ano ; Avalanche +250%Conheça a avalanche: A Avalanche é conhecida por possuir três blockchains em uma só rede.Isso permite que a Avalanche solucione os problemas mais comuns que acometem blockchains mais tradicionais, como a Ethereum, aumentando a escalabilidade, a segurança e proporcionando mais descentralização.Através do mecanismo de prova de participação (proof-of-stake), a rede Avalanche dispensa a mineração de dados e gerencia informações na plataforma mediante a execução de contratos inteligentes.Além disso, a rede Avalanche possui sua própria criptomoeda, o avax (AVAX), um token que serve para estabelecer um sistema de governança na plataforma.Conheça a Solana: Solana é um dos blockchains monolíticos mais promissores do mercado.Mesmo após desafios como a quebra da FTX, instituição que mais apoiava a rede, o desempenho do criptoativo tem se mostrado resiliente conforme investidores precificam o crescimento do seu ecossistema DeFi, em conjunto com os avanços da Firedancer, novo client em desenvolvimento pela Jump Crypto, que promete aumentar a performance e escalabilidade da rede como um todo.
Things looked bleak for Solana after the collapse of FTX. Anatoly Yakovenko explains how the blockchain rebounded so successfully that SOL became the best-performing top crypto in 2023. Solana's native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn't have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana's co-founder, says the discipline imposed by FTX's collapse, as well as improvements to the technology, have made Solana stronger. On this episode of Unchained, Yakovenko talks about the impact of FTX's collapse, his early impressions of Sam Bankman-Fried, the SEC's designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL's share of the stablecoin market, and why he thinks it's inevitable that finance will eventually run on something like Solana. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.Show highlights | How the Solana ecosystem weathered the FTX crisisHow FTX's collapse was like ripping off a band-aid for SolanaAnatoly's initial impression of SBF as a “super genius”Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developersWhat factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in SolanaHow Solana addressed and rectified the outage issues that were so frequent in previous yearsWhy Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000Why he's not worried about Jump Crypto building a client for the blockchainThe ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shiftsHow the Solana Foundation is handling the SEC's classification of SOL as a securityWhether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystemWhy Solana holds a low market share of stablecoins across various blockchains, and the implications of this trendWhy Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain successHow Web3 gaming has been flourishing on SolanaWhy Anatoly is confident that DeFi will find its rightful place on the Solana networkThe future plans for the Saga phone after its market challengesWhat Anatoly thinks is the number one focus for Solana for the near termThank you to our sponsors! LayerZero | Popcorn Network | Arbitrum FoundationGuest | Anatoly Yakovenko, Co-founder of Solana LabsPrevious appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer?Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGALinks | Unchained: Solana Saga review Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works'-Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Solana's native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn't have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana's co-founder, says the discipline imposed by FTX's collapse, as well as improvements to the technology, have made Solana stronger. On this episode of Unchained, Yakovenko talks about the impact of FTX's collapse, his early impressions of Sam Bankman-Fried, the SEC's designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL's share of the stablecoin market, and why he thinks it's inevitable that finance will eventually run on something like Solana. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: How the Solana ecosystem weathered the FTX crisis How FTX's collapse was like ripping off a band-aid for Solana Anatoly's initial impression of SBF as a “super genius” Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developers What factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in Solana How Solana addressed and rectified the outage issues that were so frequent in previous years Why Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000 Why he's not worried about Jump Crypto building a client for the blockchain The ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shifts How the Solana Foundation is handling the SEC's classification of SOL as a security Whether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystem Why Solana holds a low market share of stablecoins across various blockchains, and the implications of this trend Why Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain success How Web3 gaming has been flourishing on Solana Why Anatoly is confident that DeFi will find its rightful place on the Solana network The future plans for the Saga phone after its market challenges What Anatoly thinks is the number one focus for Solana for the near term Thank you to our sponsors! LayerZero Popcorn Network Arbitrum Foundation Guest: Anatoly Yakovenko, Co-founder of Solana Labs Previous appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Previous appearance on Unchained: Can Solana Seize Marketshare From Ethereum With Serum? Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA Links Unchained: Solana Saga review Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works' Learn more about your ad choices. Visit megaphone.fm/adchoices
Unchained is running its annual survey to better serve you. Please answer our annual survey here. Solana's native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn't have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana's co-founder, says the discipline imposed by FTX's collapse, as well as improvements to the technology, have made Solana stronger. On this episode of Unchained, Yakovenko talks about the impact of FTX's collapse, his early impressions of Sam Bankman-Fried, the SEC's designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL's share of the stablecoin market, and why he thinks it's inevitable that finance will eventually run on something like Solana. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: How the Solana ecosystem weathered the FTX crisis How FTX's collapse was like ripping off a band-aid for Solana Anatoly's initial impression of SBF as a “super genius” Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developers What factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in Solana How Solana addressed and rectified the outage issues that were so frequent in previous years Why Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000 Why he's not worried about Jump Crypto building a client for the blockchain The ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shifts How the Solana Foundation is handling the SEC's classification of SOL as a security Whether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystem Why Solana holds a low market share of stablecoins across various blockchains, and the implications of this trend Why Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain success How Web3 gaming has been flourishing on Solana Why Anatoly is confident that DeFi will find its rightful place on the Solana network The future plans for the Saga phone after its market challenges What Anatoly thinks is the number one focus for Solana for the near term Thank you to our sponsors! LayerZero Popcorn Network Arbitrum Foundation Guest: Anatoly Yakovenko, Co-founder of Solana Labs Previous appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Previous appearance on Unchained: Can Solana Seize Marketshare From Ethereum With Serum? Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA Links Unchained: Solana Saga review Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works' Learn more about your ad choices. Visit megaphone.fm/adchoices
Blue Alpine Cast - Kryptowährung, News und Analysen (Bitcoin, Ethereum und co)
#### Solana e Avalanche tomarão o lugar do Ethereum?Conheça a avalanche: A Avalanche é conhecida por possuir três blockchains em uma só rede.Isso permite que a Avalanche solucione os problemas mais comuns que acometem blockchains mais tradicionais, como a Ethereum, aumentando a escalabilidade, a segurança e proporcionando mais descentralização.Através do mecanismo de prova de participação (proof-of-stake), a rede Avalanche dispensa a mineração de dados e gerencia informações na plataforma mediante a execução de contratos inteligentes.Além disso, a rede Avalanche possui sua própria criptomoeda, o avax (AVAX), um token que serve para estabelecer um sistema de governança na plataforma.Conheça a Solana: Solana é um dos blockchains monolíticos mais promissores do mercado. Mesmo após desafios como a quebra da FTX, instituição que mais apoiava a rede, o desempenho do criptoativo tem se mostrado resiliente conforme investidores precificam o crescimento do seu ecossistema DeFi, em conjunto com os avanços da Firedancer, novo client em desenvolvimento pela Jump Crypto, que promete aumentar a performance e escalabilidade da rede como um todo.
The world of sports is ever-evolving, with innovative concepts and technologies reshaping the way fans interact with their favorite games. One such innovation is Fan-Controlled Football (FCF), cofounded by Grant Cohen, a league that has defied convention and captured the imagination of sports enthusiasts worldwide. Fan Controlled Football has attracted funding from top-tier investors like Animoca Brands, 6th Man Ventures, Jump Crypto, and Delphi Digital.
The world of sports is ever-evolving, with innovative concepts and technologies reshaping the way fans interact with their favorite games. One such innovation is Fan-Controlled Football (FCF), cofounded by Grant Cohen, a league that has defied convention and captured the imagination of sports enthusiasts worldwide. Fan Controlled Football has attracted funding from top-tier investors like Animoca Brands, 6th Man Ventures, Jump Crypto, and Delphi Digital.
Welcome to Blockbytes! On today's show, Justin Bebis, Corval, and Mikey break down the latest crypto news. Shibarium Launch Failure! There are top signals all around and a lot of question if a correction is coming in the crypto markets. Regulatory events are shaking up the world's biggest players, Coinbase and Binance. 3AC getting fined millions the same week SBF is jailed - time for them to be cell mates. SEI launched which is backed by JUMP Crypto. Bebis gives the latest updates with the OATH Ecosystem as well as with Retro finance over on Polygon Network. We look forward to hanging out and talking about the latest crypto news with you. Hit the like button! ------- Today's show would not be possible without our wonderful sponsor, Shimmer Network. Shimmer is a DAG based feeless Layer 1 network that is fast and highly scalable. You can learn more by visiting shimmer.network. -------- Blockbytes Discord: https://discord.gg/blockbytes -------- AFFILIATE LINKS: - RAINMAKER DEFI APP - Visit https://rainmaker.nyc and use code 'BLOCKBYTES' to start using Rainmaker today. - Delphi Digital Research Referral Link! https://delphi.link/blockbytes15 Referral code is 'BLOCKBYTES15' - FriendMEX | Advanced friend.tech trading platform - https://friendmex.com/ -------- TIMESTAMPS: 00:00 Welcome to Blockbytes! 1:30 Shibarium Launch Failure 6:40 Coinbase Wins Approval to List Crypto Futures in U.S. 9:55 SEC is Conducting 'Fishing Expedition' - Binance US 15:45 PayPal 'PYUSD' Announcement Shaking Up Policymakers 24:30 Top Signals All Around? 31:30 3AC & OPNX | FINED $2.7M by Dubai Crypto Regulator 37:20 SBF Back in Jail | Bail REVOKED 38:50 Who's Journal is this? Caroline or Mikey 44:48 SEI Launch | What is it, Why is it? 51:30 OATH Ecosystem Update 1:01:30 Friend.Tech 1:02:30 Final Top Signals 1:05:00 Thanks For Tuning In! Like the Video! ------ Nothing you read/see on Blockbytes YouTube or blockbytes.com should be considered financial advice. Please use all of the information available to you and do your own research. There are many risks inherent with Crypto currency investing which includes up to complete loss of funds. So please never invest with money you cannot afford to lose. All of Blockbytes content is for entertainment purposes only and the opinions of the presenters and guests do not necessarily reflect the views of Blockbytes LLC. Nothing you see in any of the blockbytes content should be considered a solicitation to buy or sell any assets. Any links of which Blockbytes receives a commission will be clearly marked as such. If you like the content that we produce and can use the products then please consider using our referral links above.
Outdid este un startup londonez cofondat de românca Ana-Maria Pricop și de Zvezdin Besarabov. Soluția de verificare a vârstei online a primit 2,5 milioane de dolari investiție de curând, iar noi am discutat cu Ana despre parcursul acestui startup din momentul în care nu aveau speranțe, până la prima investiție. Outdid a primit 2,5 milioane de dolari de la Jump Crypto, Superscrypt și 15 investitori de tip angel. Compania a fost fondată în 2022 de o echipă de cercetători pentru a schimba modul în care identitatea poate fi verificată online, pe baza unei soluții concentrate pe ideea de privacy. Tehnologia Outdid folosește așa-numitul zero-knowledge proof, prin care identitatea digitală este verificată în mod privat și poate fi rezistentă la fraude. În momentul de față, Outdid se concentrează pe verificarea sigură a vârstei, dar creatorii startup-ului spun că soluția poate fi extinsă în diferite industrii și diferite scenarii. Practic, Outdid extrage cu ajutorul unui algoritm date din pașaport cuma ar fi vârsta, cetățenia, numele, genul, dar nu le stochează. Startup-ul a pornit când cei doi cofondatori s-au mutat de la Paris la Londra și au căutat idei pe care să le pună în aplicare.
Hoje tem Circuito Bankless no Twitter Spaces. Ursos do Bitcoin forçam BTC abaixo de US$ 27 mil de olho em US$ 900 milhões; 2ª maior liquidação em longs do ano foi registrada após fakenews, $ 36 milhões em uma hora ; Baleias que compraram o fundo realizaram 266k BTC; Taxas de Bitcoin despencam 95%; Jane Street e Jump Crypto querem deixar os Estados Unidos e podem vender suas criptomoedas; Beacon Chain, principal rede da Ethereum, parou de finalizar blocos por 25 minutos; Executivo do jurídico da Coinbese 'Nós fizemos besteira' após corretora associar o Pepe à extrema direita; Circle ajusta as reservas do USDC para evitar o risco de calote dos EUA; MetaMask lança compras de ETH via PayPal para usuários dos EUA; Aniversário do crash do Terra-LUNA.Curadoria, opinião e edição: Uai so serious?ACOMPANHE NOSSAS REDES SOCIAIS!Podcast: https://podcast.banklessbr.com/TWITTER: https://twitter.com/BanklessBRINSTAGRAM: https://www.instagram.com/banklessbr/ Artigos: https://artigos.banklessbr.com/Discord: https://discord.gg/MHbySprcMbOdysee: https://odysee.com/@Banklessbr:9Lens: : https://lenster.xyz/u/banklessbrLensTube: https://lenstube.xyz/channel/banklessbr.lens______________________________________Esse é um podcast com fins educacionais, queremos apresentar o mundo cripto/web3 a você. Nada do que produzimos deve ser considerado como dica de investimento, sinais para comprar ou vender quaisquer ativos e nem mesmo direcionamento para decisões financeiras.Todas as informações ou estratégias são pensamentos e opiniões relevantes para os produtores de conteúdo aqui envolvidos e não devem necessariamente ser seguidas.Se você está planejando realizar fazer investimentos, fale com profissionais de sua confiança e mais importante: Faça sua própria pesquisa.
In this episode, Parth & Abdul discuss Q1 Earnings, Twitter legally changing their name to "X", and Bitcoin's recent volatility induced by Jump Crypto.
Today's blockchain and cryptocurrency news Bitcoin is up slightly at $30,836 Ethereum is down slightly at $2,117 Binance Coin is up .5% at $333 Bittrue suffers 23M exploit House republicans press Gensler for SEC information on FTX Evmos Devs say Jump Crypto alerted them to a potential 8-fig exploit. Zipmex rescue deal in trouble. Franklinisbored forced to sell some NFTs. Learn more about your ad choices. Visit megaphone.fm/adchoices
CRYPTO NEWS TODAY: Jump Crypto counter-exploited the Wormhole hacker for $140 Million. Just over a year ago, the Wormhole bridge was attacked in one of the largest crypto loss events of 2022. Altogether, around 120,000 ETH was stolen — $325 million at the time. MakerDAO's Oasis Automation has a backdoor that let them seize assets from a user based on a court order. What happens when bad actors or governments demand they seize from users in the future? ----- 2:10 Speculative Trading 4:00 Market Overview 11:50 Oasis Exploits Themselves 23:26 Yuga Labs Launches TwelveFold Ordinals 32:40 UniSwap v3 Business License Expires ----- Nothing you read/see on Blockbytes YouTube or blockbytes.com should be considered financial advice. Please use all of the information available to you and do your own research. There are many risks inherent with Crypto currency investing which includes up to complete loss of funds. So please never invest with money you cannot afford to lose. All of blockbytes content is for entertainment purposes only and the opinions of the presenters and guests do not necessarily reflect the views of Blockbytes LLC. Nothing you see in any of the blockbytes content should be considered a solicitation to buy or sell any assets. Any links of which Blockbytes receives a commission will be clearly marked as such. If you like the content that we produce and can use the products then please consider using our referral links above.
Steve Kaminsky of Jump Crypto joins Ronan and JR on this episode of Boxes + Lines to break down The Pyth Network, an oracle that acts as a bridge between on-chain and off-chain applications to provide crypto values and other market data. The group discusses the value of using Pyth and the benefits that come along with contributing data to the network. We also hear about the latest crypto trends to keep an eye on. Recorded January 19, 2023.
Since its beginnings as a skunkworks intern project in late 2015, Jump Crypto has developed a multifaceted crypto strategy that spans proprietary trading, venture investing, and infrastructure development. Although Jump had some exposure to FTX, the firm says it remains well capitalized. In this episode of The Scoop, Jump Crypto President Kanav Kariya reflects on lessons learned during 2022 and analyzes the current state of the industry's capital markets. According to Kariya, many crypto market participants struggled with proper collateral management over the course of last year: "The perceived maturity of a lot of the participants in the market was clearly way out of line with what the reality was — the quality of the collateral was astonishing across the board." Going forward, Kariya envisions deep-pocketed institutions from traditional finance entering the market instead of crypto-native startups. As he explains: "When it comes to institutional lending and prime brokerage, that feels like an opportunity for a much better capitalized player to step into the market at this point — it's not a startup opportunity in my mind." Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions. This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPN About Circle Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more. About Railgun RAILGUN is a private DeFi solution on Ethereum, BSC, Arbitrum, and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let RAILGUN's Zero-Knowledge cryptography encrypt your address, balance, and transaction history. You can also bring privacy to your project with RAILGUN SDK and be sure to check out RAILGUN with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more. About Flare Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high integrity data from other blockchains and the internet, Flare enables new use cases and monetisation models. Build better and connect everything at Flare.Network About NordVPN NordVPN is essential for keeping crypto transactions secure, hiding your IP address and protecting your devices from hackers and data theft. Get premium cyber-security on up to 6 devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop
In this episode, Aakash, Principal at Matrix Partners India, talks to Shanav, VP of investments at Jump Crypto, about what builders in the crypto space can look forward to and other interesting trend lines for 2023. Tune in to know more
Blue Alpine Cast - Kryptowährung, News und Analysen (Bitcoin, Ethereum und co)
⛓ Bist du an DeFi oder NFTs interessiert? Jetzt Kurse buchen bluealpineresearch.com/kurse
Steve Kaminsky (Strategic Initiatives and Special Projects at Jump Crypto) joins The Tie's Fundamental Value podcast to discuss Jump's crypto initiatives, contributions towards Pyth, and the importance of blockchain oracles.The information contained in this podcast is for informational purposes only and is not investment advice. The views and opinions expressed in this episode are those of the speakers and do not necessarily reflect the views or positions of The TIE, Inc. You are fully responsible for any decisions you make; The TIE Inc. is not liable for any loss or damage caused by reliance on information provided. For investment advice, consult with a registered investment advisor. Steve Kaminsky LinkedIn: https://www.linkedin.com/in/stephen-kaminsky-a8197291/Jump Crypto Website: https://jumpcrypto.com/Jump Crypto Twitter: @jump_Pyth Website: https://pyth.network/Joshua Frank Twitter: @Joshua_Frank_Joshua Frank LinkedIn: https://www.linkedin.com/in/joshua-frank-56950950/The Tie Twitter: @TheTIEIOThe Tie Website: https://www.thetie.io/The Tie is the leading provider of information services for digital assets. Our core offering, The Tie Terminal, is the fastest and most comprehensive workstation for institutional digital asset investors. https://www.thetie.io/crypto-sigdev-terminal/
Web3 metaverse project ZTX (ZepetoX) announced on Thursday that it has partnered with Magic Eden, the largest Solana-based NFT marketplace, to launch a genesis home NFT sale aimed at rewarding early evangelists and community builders while reasserting its vision of building a metaverse for all.Instead of opting for a conventional virtual land sale, ZTX will offer virtual land for free to anyone who registers and claims land on its platform. However, in order to reward early backers, ZTX will conduct a genesis home NFT sale offering 4,000 unique 3D-rendered home NFTs packed with in-game utility. As home NFT owners, users will receive boosts to economic activities and asset production on ZTX land as well as priority access to exciting updates and features. The sale, slated for December, will go live on Magic Eden, which boasts around 10 million unique monthly sessions and thousands of daily transactions. Building on the Solana network, ZTX is the crypto metaverse initiative jointly incubated by ZEPETO – widely regarded as Asia's largest metaverse platform with over 340 million registered users – alongside leading global blockchain organizations including Jump Crypto. Earlier in August, ZTX announced plans to create an immersive 3D open world that will empower creators and communities to build, play and earn. With exclusive ties to ZEPETO, ZTX aims to create a metaverse that will successfully onboard new audiences, web3 natives, and ZEPETO's existing web2 users.Why Home NFTs, and not Land?In today's metaverse projects, the barriers to entry for the average person are high – with plots of virtual land positioned as pricey speculative assets that make it difficult to own. This often limits users who lack financial resources from enjoying or contributing to the metaverse while institutional investors and companies with deep pockets ultimately account for the majority of the virtual real estate.In ZTX, land will be free, unlimited and accessible for all. The land will unlock core features of the gameplay and serve as a base for home NFTs in ZTX. Users, in the form of their avatars, will be able to develop and explore the land as well as socialize with one another. Overall, users who are eager to dedicate time and contribute to the metaverse will have the ability to own land, enjoy immersive experiences, participate in core game loops and become a part of a growing ZTX community.“We're delighted to debut our genesis home mint on Magic Eden. We're building a metaverse for all with mass adoption in mind and it was important for us to create a place where users can come and enjoy without worrying about price tags – a place that users can call home,” said Chris Jang, the Co-CEO of ZTX, explaining the decision for the collection to focus on home NFTs.Magic Eden's Co-Founder and COO, Zhuoxun Yin, commented, “We are excited to bring ZTX's genesis home mint to our Launchpad and to introduce our Solana community to the creative possibilities that users can explore across the world of ZTX–where homeowners can find artistic expression, connect with others, and play games.” The genesis home NFTs will be customizable and immersive in-game assets to be placed on the user-owned lands in ZTX. Users will be able to enter homes, decorate rooms, use it as an NFT gallery
Liquid - Crypto Investing | Startup Pitch | Token Investing and Crowdfunding.
Nihar Shah and Lucas Baker are researchers and investors at Jump Crypto, the crypto division of Jump Trading Group, a research-driven quantitative trading firm. Jump Crypto is committed to building and standing up critical infrastructure needed to catalyze the growth of the crypto ecosystem. They study questions regarding protocol and mechanism design, tokenomics, stablecoins, optimal governance, core blockchain infrastructure, and the financial stability of crypto ecosystems. Lucas previously worked as a macro researcher at D.E. Shaw and a software engineer on the DeepMind AlphaGo team. He received his undergraduate degree in computer science from Stanford University and an MS/MBA dual degree from Harvard University. Nihar previously worked as an economist at Meta on the Libra/Diem cryptocurrency project. He received his undergraduate degree in economics, masters degrees in statistics and economics, and PhD in economics, all from Harvard University. ----- This episode is brought to you by: Skolem Technologies provides institutional grade data and trade execution services for decentralized financial markets. Skolem is the first full-stack DeFi platform with a robust infrastructure and unique interface layer that provides clients with reliable execution, an easy-to-use web UI and API, and full trade lifecycle support. Skolem's systems are built on a deep understanding of the underlying smart contracts and a security research mentality. For more information on Skolem visit skolem.tech Global Coin Research ("GCR") is a community-first research and investment DAO. GCR's mission is to create a community-driven investment DAO where the best web3 deals are sourced by community members for community members. This discussion was recorded in our Discord. You can find more information about us and how to join at GlobalCoinResearch.com ----- Remember to rate, review and subscribe to the Podcast!
In der Rubrik “To Infinity and Beyond – der Podcast rund um Blockchain, Web 3.0, Krypto und NFT” diskutieren Kerstin Eismann und Daniel Höpfner gemeinsam mit Jan Thomas über die neuesten Entwicklungen in der Krypto und Blockchain-Welt: - Am 12. September startete die Berlin Blockchain Week. Bis zum 18. finden hier rund um Blockchain und das Web3, zahlreiche Events, Workshops, Meetups und mehr statt. - Ehemalige Meta-Manager sammeln mit Mysten Labs 300 Millionen US-Dollar ein, um die Einführung der SUI-Blockchain zu beschleunigen. Zu den Investoren gehören unter anderem FTX Ventures, Coinbase Ventures, Jump Crypto, a16z und Circle Ventures. - Die drei ??? betreten nun als NFT-Sonderkollektion das Web3. Zusammen mit Sony Music bringt das Berliner Startup twelve x twelve ausgewählte Neuinterpretationen der legendären Motive in zwei Sonderkollektionen auf den Markt. - Crypto.com kündigt Sponsorenvertrag für die Champions League im Wert von 495 Millionen US-Dollar. - Neuer Trend im DeFi-Bereich: Protokolleigene Stablecoins für die Zensur-Resistenz - IOTA-gestütztes Smart Meter soll den deutschen Markt erobern. - Starbucks bietet seinen Kunden NFT-basiertes Treueprogramm mit der Blockchain-Technologie von Polygon an. Infos der Werbepartner: ROQ: Gehe jetzt auf roq.tech/daily und erhalte die komplette Plattform 3 Monate lang for free. OMR Reviews: One more thing wird präsentiert von OMR Reviews – Finde die richtige Software für Dein Business. Wenn auch Du Dein Lieblingstool bewerten willst, schreibe eine Review auf OMR Reviews unter https://moin.omr.com/insider. Dafür erhältst du einen 20€ Amazon Gutschein.
Briefers dive into what master account access could mean for SPDI banks, discuss the impact of firms being paid to pause mining operations and give their take on Jump Crypto committing to rebuild the Solana blockchain software. Please remember: this podcast is solely for informational and educational purposes and is not investment, tax, legal or insurance advice. Digital assets are speculative and highly volatile and you should conduct thorough research before you invest. To learn more, visit: fcatalyst.com FMR LLC. © 2022 FMR LLC. All rights reserved.
On this episode Lucas and Nihar from Jump Crypto join the Tokenomics DAO podcast to discuss their recent article “Token Design for Serious People”.Read it here: https://jumpcrypto.com/token-design-for-serious-people/We cover the core aspects, producing common goods and rewarding value creation. We dive into identity, reputation, governance, sustainable Tokenomics and Tokenomics beyond the cold start problem.For more content from Jump and from Lucas and Nihar make sure to follow them on twitter:https://twitter.com/jump_https://twitter.com/theshah39https://twitter.com/SansGravitasWatch this episode on YouTube:DisclaimerNot financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.None of this is legal advice. This podcast is strictly educational. Talk to your lawyer.Sound Logo Attribution - It Starts Here - https://www.fiftysounds.com Get full access to Tokenomics Newsletter at tokenomicsdao.substack.com/subscribe
幻冬舎の暗号資産（仮想通貨）/ブロックチェーン専門メディア「あたらしい経済 https://www.neweconomy.jp/ 」がおくる、Podcast番組です。平日毎日最新ニュース解説をお届けします。 ○解説したニュース ・米FRB、暗号資産業務を検討する銀行向けにガイダンス発表 ・Jump Crypto、ソラナ（SOL）のバリデータクライアント開発へ ・【取材】暗号資産決済導入を簡単に、「Slash Web3 Payment」メインネットローンチ ・住友商事、ブロックチェーン活用の金属資源貿易PFを商業利用へ ・美ら海ゴミゼロプロジェクト、FiNANCiEでトークン発行 ・【レポート】IOSTと⼤学研究室がweb3サマースクール開催、ブロックチェーン技術の教育と⼈材育成に貢献 ・アスターネットワーク（ASTR）が日本で「Astar Week」開催。VC、暗号資産取引所、web3スタートアップら集う ○番組スポンサー この番組はFiNANCiEの提供でお送ります。 ・株式会社フィナンシェ 「FiNANCiE（フィナンシェ）」は、スポーツチームやエンタメプロジェクト、DAOなどのトークンを購入して支援ができる新しいクラウドファンディング・サービス。サッカーJリーグ、野球、バスケ、などのプロスポーツチームをはじめ、映画やアイドル、インフルエンサーなど100以上のプロジェクトのトークンがフィナンシェで購入できます。さらにトークン購入者はプロジェクトに応じたキャンペーン参加やNFTなどの特典も。ぜひiOSやAndroidで「FiNANCiE」のスマホアプリを入れて、新たな応援体験を味わってください。「あなたの夢が、みんなの財産になる」FiNANCiE →App Store（対応OS：iOS 12.0以上）はこちら https://apps.apple.com/jp/app/financie/id1470196162 →Google Play（対応OS：Android 6.0以上）はこちら https://play.google.com/store/apps/details?id=jp.financie.ichiba ○関連リンク ニュースの詳細や、アーカイブやその他の記事はこちらから www.neweconomy.jp/
Hendrik Hofstadt currently serves as a Director of the Wormhole Foundation. The Foundation has a mission of fostering development of the Wormhole protocol, a communication bridge between different public blockchains. Hendrik is also the chairman of the supervisory board at Neodyme AG. Prior to Wormhole, Hendrik co-founded and served as CEO for Certus One, a blockchain infrastructure company, which was acquired by Jump Crypto in 2021. Hendrik walks through his crypto journey, cyber-security background and the power of proof-of-stake validators. Then, he explains Wormhole's mission to bridge public blockchains, the difference between wrapped vs. cross-chain assets, and importance of data sharing. Finally, he discusses Ethereum, Wormhole's roadmap and cross-chain wallets.——————————————————————Watch this video on YouTube: https://www.youtube.com/c/SALTTube/videosFor podcast transcripts and show notes, visit https://www.salt.org/Moderated by Anthony Scaramucci. Developed, created and produced by SALT Venture Group, LLC.
The FTX Podcast - Builders and Innovators in the Cryptocurrency Industry
Welcome to episode 116 of the FTX Podcast featuring special guests Kaveh Aasaraai & Rahul Maganti with your host Tristan Yver!In this episode we dive back in with Jump to explore ZKs and hardware optimization! As some of you are familiar with by now: Jump Crypto is the crypto arm of Jump Trading Group that is home to builders, partners and traders working towards the next frontier in crypto infrastructure.Kaveh works at the Research Department for Jump with a Ph.D. in computer engineering from the University of Toronto. Kaveh's research interests include computer architecture, soft processors, low-power designs and now the utility of hardware for crypto. Rahul is Vice President at Jump Crypto Venture and a leader on the applied ZK team.Kaveh & Rahul have found a synergistic link in working together through combining their respective strengths. An off-chance meet up at a crypto conference has set them on a path to utilize Kaveh's breadth of hardware knowledge with Rahul's groundbreaking work on ZKs. Tune in to learn how these two fields complement each other and the potential for future utility. The team over at Jump Crypto is on a mission to bring the ecosystem together through cross-chain interoperability and streamlining transactional verification proofs across blockchains. Kaveh has an extensive history working with hardware components - this is proving to be a key part to Rahul's ZK mission; as custom optimized hardware provides computational power needed to generate realtime proofs on the blockchain.
The FTX Podcast - Builders and Innovators in the Cryptocurrency Industry
Welcome to episode 115 of the FTX Podcast with special guests Hendrik Hofstadt & Kanav Kariya with your host Tristan Yver!Kanav is President of Jump Crypto, the crypto arm of Jump Trading Group; home to builders, partners and traders working towards the next frontier in crypto infrastructure.Hendrik co-founded and served as CEO for Certus One, a blockchain infrastructure company, which was acquired by Jump Crypto in 2021. Certus One is the premier validator for distributed ledger technology (DLT). Hendrik currently serves as a Director of the Wormhole Foundation; with a mission to bridge communication between different public blockchains utilizing the Wormhole protocol. Thank you Hendrick & Kanav for your time, energy and insight!
Jump Crypto burst onto the scene less than a year ago, with the appointment of a former intern named Kanav Kariya as its founding president. Within just a few months, Jump Crypto has found itself spending hundreds of millions bailing market participants out because of a major DeFi hack, and having to navigate the collapse of the TerraUSD stablecoin. Undeterred by critics, Kanav Kariya believes that the market's current volatility is the perfect time to double down. In this episode you'll hear from Bloomberg reporters Katherine Doherty and Yueqi Yang, who went to Chicago to visit Jump's headquarters and hear about what's next for the firm. See omnystudio.com/listener for privacy information.
Mike Cahill is the Director of the Pyth Data Association, the Swiss association behind the Pyth network, a decentralized oracle solution that brings financial data across asset classes on-chain – directly from the source. Based in Porto, Mike is also the head of European business development for digital assets at Jump Crypto, a market data provider of Pyth. Cahill details his journey to crypto and the role the Pyth Network plays in facilitating on-chain financial data sharing. He explains the decision to pick Solana as their layer-1 blockchain, the state of participation on Pyth and what growth looks like amid the current crypto environment.0:00 – Intro & background5:14 – Pyth Network12:38 – Building on Solana18:47 – Pyth data participation26:06 – Growing Pyth & market conditions
In this week's episode, Anna (https://twitter.com/annarrose) chats with Rahul Magani (https://twitter.com/rahulmaganti_), the Applied ZK Lead at Jump Crypto (https://twitter.com/jump_), and Hendrik Hofstadt (https://twitter.com/hendrikhofstadt), Project Lead at (Wormhole Crypto)[https://twitter.com/wormholecrypto]. They look at how Wormhole first came to be, the challenges of interoperability, the design decisions they made in balancing security, speed and functionality, the risks facing these types of solutions, including the famous Wormhole hack, what the future holds and how they aim to explore using zk in bridging. Here are some links for this episode: * Ep 230: Designing Optimistic Interoperability with Nomad (https://zeroknowledge.fm/230-2/) * Ep 232: Cutting Edge ZK Research with Mary Maller (https://zeroknowledge.fm/232-2/) * Jump Crypto (https://jumpcrypto.com/) * Wormhole Repository (https://github.com/certusone/wormhole) * Wormhole Portal Bridge (https://www.portalbridge.com) * Jump Trading Group (https://www.jumptrading.com) * Key Pillars of Crypto Infrastructure (https://jumpcrypto.com/peeking-under-the-hood) * Pyth Network (https://pyth.network) * Serum Project (https://www.projectserum.com) * Fiat-Shamir Vulnerability (https://blog.trailofbits.com/2022/04/18/the-frozen-heart-vulnerability-in-plonk) * Jump Trading Bug Bounties (https://www.jumptrading.com/bug-bounties) * BN254 Curve Standard (https://neuromancer.sk/std/bn/bn254) * PlonK Proof System (https://eprint.iacr.org/2019/953) * Nova Proof System (https://eprint.iacr.org/2021/370) * Manta: a Plug and Play Private DeFi Stack (https://eprint.iacr.org/2021/743) * BLS12-377 curve operations (https://eips.ethereum.org/EIPS/eip-2539) * Wormhole Hack Report (https://wormholecrypto.medium.com/wormhole-incident-report-02-02-22-ad9b8f21eec6) The ZK Tech side round on Gitcoin (https://gitcoin.co/) starts today and runs until June 23rd. During this CLR matching round funds that are donated to the ZK tech side round are matched from our 100K matching pool. This initiative is led by 0xPARC and zkValidator, as well as our fantastic matching partners from the ecosystem. Visit gitcoin.co (https://gitcoin.co/) to get your grant in and choose the tag ZK tech to be eligible to our matching pool. Today's episode is sponsored by Anoma (https://anoma.net/) Anoma is a suite of protocols that enable self-sovereign coordination. Their unique architecture facilitates efficiently the simplest forms of economic coordination such as two parties transferring an asset to each other. As well as more sophisticated ones like an asset agnostic bartering system involving multiple parties without direct “coincidence of wants”; or even more complex ones such as “N-party” collective commitments to solve multipolar traps – where any interaction can be performed with adjustable zero-knowledge privacy. Visit Anoma (https://anoma.net/) to learn more. If you like what we do: Find all our links here! @ZeroKnowledge | Linktree (https://linktr.ee/zeroknowledge) Subscribe to our podcast newsletter (https://zeroknowledge.substack.com) Follow us on Twitter @zeroknowledgefm (https://twitter.com/zeroknowledgefm) Join us on Telegram (https://zeroknowledge.fm/telegram) Catch us on Youtube (https://zeroknowledge.fm/) Head to the ZK Community Forum (https://community.zeroknowledge.fm/) Support our Gitcoin Grant (https://zeroknowledge.fm/gitcoin-grant-329-zkp-2)
China has returned as the second-largest Bitcoin mining hub, with 21.1% of the total global BTC mining hash rate. Ledger is adding a browser extension on Safari called Ledger Connect that will allow users of Ledger hardware wallets to easily connect with Web 3 applications. Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin's backing. Terraform's legal team has reportedly resigned following the $UST crash. The Jump Crypto-backed cross-chain bridge Wormhole has launched support for the Algorand blockchain.Sponsors
The FTX Podcast - Builders and Innovators in the Cryptocurrency Industry
Welcome to episode 110 of the FTX Podcast: Bahamas edition with special guest Kanav Kariya and your host Tristan Yver! Jump Crypto is the crypto arm of the Jump Trading Group. They are builders, partners and traders working towards the next frontier in crypto infrastructure to help shape the future of the industry. Thank you for your time, energy & insight Kanav!
Kanav Kariya (President, Jump Crypto) joins the Solana Podcast to discuss his optimism for the future and the many areas in which Jump Crypto is innovating in the crypto and blockchain space. Austin Federa (Head of Communications, Solana Labs) guest hosts. 00:49 - What is Jump?03:07 - The path to operationalizing crypto06:00 - Optimism for Crypto10:49 - Discovering and Building in Crypto with Jump14:24 - Personal Journey at Jump16:43 - What's being built at Jump?17:55 - Reasons to want to build19:39 - What does Pyth offer?22:22 - Criticism about conflict of interest26:30 - How Web 3.0 facilitates resource coordination28:46 - Data contributors benefiting from onchain data31:01 - Token Plans for Pyth31:46 - Message bridging34:48 - Wormhole, stable coins and asset tokens37:36 - Time synchronization for cross-chain dApps39:14 - State storage on wormhole for dApps40:21 - Is Wormhole layer 0?41:14 - Wrapped NFTs44:13 - Jump's position towards NFTs48:36 - Exciting things in the ecosystem49:43 - Custom silicon / FPGAs53:22 - A parallel execution model? DISCLAIMERThe content herein is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. Those who appear in the content may have a financial interest in any projects referenced, and any content herein is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Austin (00:10):Welcome to another episode of The Solana Podcast. I am Austin Federa, sitting in for Anatoly again this week. Today we've got a pretty special episode I think. I'm really looking forward to this conversation. I think it's been a long time coming with a few false starts. Today we have Kanav Kariya president of Jump Crypto, or do we just say Jump at this point?Kanav (00:32):Yeah, Jump Crypto is good.Austin (00:34):President of Jump Crypto, which maybe this time last year very few people knew existed, very few people knew what you guys were doing, what you were building, what your role in the ecosystem has been. So yeah, I guess let's just go ahead and Jump right into it. What is Jump Crypto and how did it come about?Kanav (00:51):Yeah, thanks for having me on Austin. So for context for the audience that aren't very familiar with us, Jump is historically a prop trading firm founded over 20 years ago in the pits at the CME. Today one of the largest quantitative trading firms in the world. And we started a crypto division over seven years ago. It started as an intern project at the University of Illinois, where we were running a miner in a closet and building some trading infrastructure.And today we've got over 150 people on the crypto team doing a lot of different things. So the way I like to describe our business is spitting it into three primary pillars. One is prop trading, which is exactly what we do on the other side of the house, we build trading intelligence and we scale it. The second piece is building and that's the piece that I hope we'll get to talk a lot more about on this call and it's closest to my heart and closest to the heart of the team.And that's in building pieces of infrastructure, really streets and sanitation for the space and a couple of the marquee projects that we've really focused a lot of our efforts on have been Wormhole and Pyth. And of course, along the journey, we've aligned ourselves with a lot of the major ecosystems in the place, including Solana, Terra and a whole number of others in building a lot of different things across those platforms.The third bucket is venture, I like to call ourselves accidental VCs in that we found opportunities to add value, or we had requests come in to work with partners over the last six years in various different capacities. And we found that we could be meaningful in those contexts and work with people that were solving problems for us. And that has now grown into the venture division that's deploying across the space.Austin (02:31):I want to get into a lot of the work that Jump is doing as core code contributors and supporters of projects in the ecosystem. But I kind of want to start a little bit with that journey. I would say that the transition from prop trading equities and commodities to prop trading crypto, that feels pretty organic. And there's a number of firms in the space that have also made that transition. Albeit you guys seem to have made it sooner than a lot of other firms in the industry. What was that process like of going from deciding that you wanted to add crypto to actually operationalizing that? And then we'll get into some of the journey to actually becoming builders.Kanav (03:07):The project started as an intern project at this thing called Jump Labs. There was a research lab at the University of Illinois and was meant to work on cool stuff with the university on working on fun problems. So alongside the crypto stuff we were doing when I was an intern, there was a VR project working with professors at the university to abstract away trading screens. And there was work on some interesting machine learning and networking problems.And the group has grown out of that. And of course matured out of these things, but we've definitely strongly retained that ethos. Now I want to caveat this by saying we definitely didn't have oppressions in being infrastructure builders. When we started the project in the lab that many years ago. It's been a very organic and natural process for us. And it's hard to make the instant leap from prop trading to what we're doing today, but it's easy to reason through the steps along the way.As one of the earliest large trading firms in the space, we had a lot of requests from institutional liquidity exchanges, OTC platforms, and importantly projects that were looking to solve trading and liquidity related problems. And those conversations gave way to us exploring a lot of DeFi projects and a lot of L1 platform projects that shared a lot of the problems they were thinking through on complex financial system design or programming in resource consumer environments, which are very natural and germane to a quantitative trading firm. And those conversations led to jamming about foreign ideas to implementing governance proposals, to maybe starting to write a little bit of code in them. And then all the way into committing over 50, 70 engineers that we have today in building through the space. And that process involves a few different steps. One, it involves the willingness for the institution at large to be mentally long the space. It requires a recognition and frankly a little bit of a taste of the upside.It requires flexibility, which of course, prop trading firms just generally naturally just have to have. And then everything else you can just learn along the way, right? We've done a lot of things wrong. We've stumbled over ourselves a hundred times, but you've got to keep digging shots on asymmetric upside and with all the resources that we've had at the firm I think we've been able to make some good ones.Austin (05:20):Going back to you last year, Jump Crypto had sort of a moment where it decided it wanted to make itself public. You wrote a blog post that was laying out. I wouldn't quite call it a thesis, but laying out an idea of how you view the space and the role that something like Jump could play within it. One of the things I was struck by going back and rereading this is your level of optimism in this post, right? Which is something that you don't see from many financial trading firms. You see them seeing opportunities to make lots of money. You see them making lots of money. They're very profitable endeavors, but you usually don't see optimism contained within it. Where'd that come from?Kanav (06:01):That's a pretty good question. So quant firms today are basically research and development firms, right? So the people that build trading systems, that build the intelligence behind trading systems are generally of quantitative background. They generally have PhDs in either statistics, machine learning, physics, those kinds of endeavors. And the people building the platforms are low latency high performance systems engineers that there are different optimizations across every level of the stack to build robust, scalable, fast infrastructure.The environment down to the lab five years ago was about exploring this space. It was like, what does this space mean? Right. And it wasn't about, okay, how are we going to make X billion dollars kind of getting into this endeavor? It was about exploring it. And I think it attracted that kind of people and it occurred that kind of environment.And the leadership that stays since then has kind of embodied that. And just personally I'm a raging optimist, I believe in technology, I believe in the future, I believe in building towards something bigger. And thankfully I think the firm has shared those ideas and I hope I've been able to shape a lot of the culture and behaving that passion.Austin (07:10):Where do you think that optimism in yourself comes from? There's a lot of things you could have gone into coming out of school. What about both, something, an organization like Jump, which is undoubtedly a great place to go work. But you stay there for a while now, you've worked your way up, you're now in charge of the crypto division. Where does that sense of optimism in you come from and what makes Jump the right place for that?Kanav (07:33):I feel something for Jump because they had a cool internship program and they had a lab on site and they were working on really fun problems in a well resourced environment, that just made it fun and attractive. And after I had the opportunity to intern there for eight to 10 months, I kind of got a sense for the possibilities that existed. And this is the flexibility that the whole space had. And it was like, you come in, you get to make a lot of bets, you get a lot of resources. And if you make good bets, you get more resources and then you get more resources. This is the only place I've ever worked. I think it would be rather unique to have that kind setup. And again, no, I wouldn't say it was a passion moment to come in to Jump and know that I would be able to build suites and sanitation for crypto. But I knew I would get to do a lot of really cool stuff, work on fun problems with smart people. And where does optimism come from?Austin (08:25):Yeah. I mean, you look at a space like this. It's been through boom and bust. There's tons of amazing projects being built in the space that end up going nowhere. And especially from the vantage point of a trading firm, right? One of the secret sauce of a trading firm is it can make money in an up marketing, it can make money in a down market, right. And that is the advantage of a professional trading operation versus a more passive trading operation. But again, like those are not usually characteristics that breed optimism. Those are usually characteristics that bleed margins, where you're optimizing 1%, 2%, 3% here. So you can compound that over a year and it will make a marginal difference. But again, that's not usually an optimistic space, that's a very functional space to work in.Kanav (09:10):Yeah, it is. And traditionally I don't think it lends itself to naturally just exactly this. Jump culture has kind of always been a little bit unique. So Jump also has a number of other kind of divisions that work on non-high frequency trading stuff. Historically, since about 2011 or 2012, had a VBC arm called Jump Capital that invests in growing technologies in this space. They've had some cool endeavors in the biospace working on automation there in healthcare.And so the founders have generally been optimist. They definitely believe in the future. They've been able to take shots at things that are going on. And even if it's not naturally germane to the trading business in and of itself, the culture itself lends itself to being able to do something like this, which is a really awesome combination of knowing how to monetize, but then also knowing how to build. Yeah, it's been an absolute pleasure to be able to soak in from that environment.Austin (10:04):Let's look at the building for a bit. I think it's pretty open secret at this point that Jump are core contributors to Wormhole and Pyth, you've been very heavily involved in that process. Take me back to some of the early days there where you are internal to Jump, and you're saying like, "Hey, we need to do more than just trade and invest in this space. I think we can actually build." And especially you're talking about this from the perspective of sanitation and roads and the very base level infrastructure. Crypto's been around for a long time. I think most people coming into the space in that time horizon wouldn't have necessarily looked at and said like, "Oh, there's very base level features that are missing from this ecosystem." What was that both discovery process like, and then the process of convincing everyone internally that this was worth dedicating resources to?Kanav (10:50):Yeah, the discovery process was very organic. We had a lot of inbound from people looking to solve trading and liquidity problems because a lot of people in the space, even though we were quite kind of new of our trading presence, and as one of the early trading firms that really was trying to make bigger pushes in the space. When you get to talk to awesome founders every day about all the problems that they have and get to build relationships with them, you start to uncover a lot more of the problem space that exists, start to internalize a lot of it.And once you've got the opportunity to sit in that for a little bit, and I'm sure you see this today. We are much later on than we were when we made a lot of those big switches, but there's still a lot of opportunity, right? When we were kind of ideating on the origins of Pyth, the conversation we had was, look, our whole thesis at Jump Crypto is to be as long aligned with the space as possible, right? We're trying to get the maximum exposure we can on the space that we think is going to be explosive. And we're trying to ideate this ways which we put that quote unquote trade on, right? The best way to put a long trade on in a growing space, and the best mode to value capture is value creation. There's definitely a lot of inefficiencies created by hyper growth, right? And there's room to capture those inefficiencies. But those are small in magnitude relative to the absolute value creation at play.And then there's a value creation capture correlation that you think about there. So if you think about it in that lens and you know that you want to be big contributors to the space and just aim to create a lot of value to both, then you start thinking about what the opportunities are within your realm to be able to engage in that capacity.Austin (12:27):But at some point there's a meeting, or you have a boss who you report to, and you have to go down and sit down in front of him or her and say, "Hey, I want to spend a lot of money to hire a lot of engineers to do something that's going to be totally public and totally open source at a firm that historically likes to stay out of the news."Kanav (12:46):It was a few meetings.Austin (12:46):Yeah, I'm sure.Kanav (12:46):And it's kind of baby steps along the way, or big steps along the way that compound into a complete shift and a big switch of that nature. We had this summit, we called the August summit a few years ago. And we went down to an offsite location and we talked about what being in this space means for us and how we differentiate. And I remember we showed up with these sheets that we went around and distributed to people. We were like, this is the toolkit that we have. This is the opportunity set in the space.And everyone kind of had their own, things went on, but that was one of the approaches that I've taken. And if we believe this is where the space is going, this is the opportunity set that we can tackle. And these are the levels that we have to pull, right? And then you socialize that and you try to convince them people that there is opportunity to be had here and you get buy-in to take a first little step. And once you get the buy-in to take a first little step, and you kind of really show the big medics of differentiation in a native space, you get the buying for the next step.And then suddenly it's the entire [inaudible 00:13:47]. You get the whole kitchen sink thrown behind you, and then you are kind of propelling to this part that you want to be at. And that's the whole thesis of Jump everywhere. You take bets with asymmetric upside and we throw the kitchen sink at things that are working. And a lot of the stuff that we were doing started working.Austin (14:02):How is that journey for you personally, going from an intern involved in a few projects now to the Jump Crypto teams over a hundred at this point?Kanav (14:11):Yeah. We've got over 150 now, hard to keep track.Austin (14:14):Wow. Yeah. From a leadership role, and from your own perspective, how has that transition been? What parts of it were easier for you? What parts were harder than you were anticipating? Scaling yourself is often much harder than scaling a company.Kanav (14:28):Without a doubt, yeah. I started in the team as an intern like you pointed out, working on software problems. I came back to the team a year later in a formal full-time capacity, working on quant problems, which was to do with predicting crypto markets, building alpha and kind of scaling that piece. And the early conversations with projects where we were trying to solve liquidity problems was an area that I got really, really interested in. And I just kind of went about trying to build that a little bit further.Over time that led to a transition from engineering and quantitative work to more conversational business development work, just having spent years across all those functions and natively knowing how to live them has been the biggest tool that I've been able to build in the toolbox. Now that doesn't teach you how to manage a hundred people, that doesn't teach you how to propagate culture. It doesn't teach you how to scale hiring strategy. Doesn't teach you how to value the troops when things are low.I definitely want to make a claim that there are many who are close to a finished product, rather than trying to be good at everything, good at every one thing, we always try to be excellent at a few things. And then by force just propel everything forward. I'd say some of the biggest lessons I've learned, the biggest mistakes we've made, definitely been in the shape of trying to shove square bags in a round hole. Where in a trading environment it's like the only people you have on your team are engineers and quants. They're just smart people that can solve any shape of technical problem you throw them at. When you move that towards sales and marketing and product and everything else, that all kind of falls apart.Kanav (16:05):And you need people that are able to natively live within specific sub domains across those functions. And that's something that we've been trying to scale in. I spend basically all my time hiring and trying to focus on making sure our zero to one projects have a lot of momentum. But yeah, it's been an awesome journey. And of course I have support from a company that's grown to a 1500 people as the largest quant trading firm in the world and so lots of guidance and help along the way.Austin (16:33):Let's talk a little bit about that work you guys are doing and actually building. So if I understand correctly, the two projects that you are mostly core contributors to is Pyth and Wormhole. Is there anything else that you'd put into that category of engagement?Kanav (16:46):That's the highest level of engagement for sure. We do a lot of things across the big ecosystems of course. We can talk all of what we're doing with Solana. We're always trying to get deeper. We built an NFD project on the Metaplex landscape after their investment as an intern project. That was a real fun one. We've been core contributors to some of the projects that are coming out on the data landscape today. We've worked on a lot of the mechanism design that goes on, on the other one. And there's a few other projects, but the highest levels of engagement have definitely been with Wormhole and Pyth.Austin (17:18):Looking at over that landscape, Pyth high frequency Oracle. But again, Oracles, they've existed for a long time. There's a number of name brand ones that got their start on the ecosystem in the 2017 range. Lots of people have had ideas about Oracles over the years, some of them have worked, some of them haven't. Similar to Wormhole, bridges have existed for a long time. Bridges are actually the basis of how any L2 works, right? Both of these are hardly new ideas I would say. What about looking at the landscape gave you guys the confidence to say, not only there's a need for something different, but we can help build something different and better.Kanav (17:57):Again, just like 100% organic. In that August summit, we were looking at some of the biggest things we could do. And a big problem that everyone kind of kept voicing to us is that they don't have access to equities data. They don't have access to fast data so that they don't have to have things like clawback mechanisms and all these different things that LPs don't get direct on every turn, right?The fundamental thing with financial oracles is that they're used to settle risk transfer. They're used to set a price at which two parties exchange value. And if that price is latent or slow or not accurate, one side gets left folding the bag. Now, DeFi, the way protocols are constructed, the side that gets left holding the bag is either the LP that's contributing to the protocol or the protocol stakers or a key stakeholder in building the ecosystem.And the takers are able to take all that value. If you are going to build something that's going to house all of OTC, if we're building something like synthetics for example, and your protocol stakers are taking the other side of every trade that happens on S-Oil or SSNP, you need to make sure that's the right price. Otherwise you're just going to get up the way down to zero. When we were ideating on what the biggest ways we could contribute is let's contribute our data. And the first idea was in let's start, let's go and figure out how we bring together a network of people to build an Oracle.It was how do we contribute our data, right? And we browsed through the category of solutions. We had all the conversations. We spoke to dozens of investors and builders in the space. And there wasn't an easy way to slot in high fidelity financial data, into existing Oracle solutions. And so we spoke with some of the founding partners of the Pyth program and came to consensus that there was an opportunity here. And that led to the first step and we just kept building sets.Austin (19:39):In your mind, what is it that Pyth offers that other Oracle solutions don't offer?Kanav (19:46):Pyth is a very hyper specialized tool for high fidelity financial data, specifically financial data for settlement of risk transfer, right? If you think about the way the market data landscape looks today, it's different across asset classes, but there is a class of people that have access to high fidelity, streaming price data that they can legally distribute and make available to a protocol, create like an Oracle program.One you need access to very fast financial data, which is hard to get and even harder to have a legal right to distribute. You want to make sure that the people who are publishing the prices are the real owners of the data so that you can set incentives for the data to be accurate, right? If you are staking the value of a third party aggregator, their third party aggregator has no skin in the game. That's one of the other kind of fundamental things that you have to think about.And third, you need to acknowledge the fact that a price is not absolute. A price for Bitcoin has about 20 liquid trading venues that are distributed across the globe that can often be fractured, that can often have all kinds of different idiosyncrasies. And that being able to accurately determine the price on most relevant venues and build a dispersion is really important. If you think about kind of all those things together, you want very fast access. You want a broad range of access of independent sources, not reporting from the same source.You want very high liveness and uptime of course, and you want kind of good legal clarity that that price can continue to be distributed because you don't want the application to suddenly get turned off when the regulator says, "What's going on?" And those are the kind of key things that Pyth has really focused on very heavily to build that piece of infrastructure and Solana was the perfect opportunity. Before Solana there wasn't a way to create a high fidelity fast Oracle. There just wasn't a need for it and there wasn't a platform for it, right. And so all those things just came together.Austin (21:49):One of the criticisms that you'll hear about Pyth is that because of its structured model here, where the people providing data are permissioned at this point and are also like firms that are professionalized trading operations themselves, that there is an inherent kind of conflict of interest in that system. With any system in blockchain, you have to assume everyone is trying to cheat, everyone is trying to extract the most value possible. How have you gone about setting up incentives to make sure that the users of Pyth and the contributors to Pyth are not at odds with one another?Kanav (22:27):Yeah. I think you made a totally fine point there in that we are building for byzantine systems, right? And so that's the kind of incentive design you've got to keep in place. I'll frankly say I think that claim is a little bit ludicrous for a few different reasons. Once you peel back the onion just a little bit, and I'll talk through some of the reasons why.Austin (22:43):Let's peel back the onion.Kanav (22:44):One, you've got to first understand that the amount of value that can be created in actually pulling something like Pyth off successfully is dramatic. And the forms that are building this are now incentive aligned to make that happen. But two, this is an open sourced protocol, it is decentralized, and you can look at exactly what the inputs are, how they're being aggregated and what their resort in price output is.Three most importantly, there are about 50 financial firms that are submitting independent price data to this article to construct final outputs. And these financial trading firms aren't friendly with each other. This is the very first time that a group of highly adversarial trading firms, banks, exchanges, and ODC players across the entire space have come together and said, "Let's go build a piece of infrastructure." And one, I think that needs to be celebrated a lot, it's a huge win.But two, the trading firm, there are 50 global financial trading firms contributing their proprietary prices directly to Solana on the Pyth program today. We have realized that these 50 comprise of between 60% to 80% of global asset class volumes at this point, given the network of participants that have aggregated around this protocol. When you are that big of market share that you're covering that kind of breadth, the participants in the protocol themselves are on the other side of each other's trades almost by definition. And so who's manipulating the price against who? Let's kind of just start there.The system of incentives that set up in this taking protocol, you can read through this on the Pyth white paper has some really intelligent aggregation algorithms that put all this data together, that identify the quality of each of these independent data publishers that then sets out a mechanism to aggressively punish providers that don't have good prices. And good prices can mean I published a malicious bad price. It can mean I have slow prices. It can mean I published, I had a bug, it can mean anything.The incentive design mechanism is meant to reward data providers that are not honest, but that have great data. And that's a fundamental difference in how system designs, we're not kind of rewarding agreement, we're rewarding prediction. And so you are rewarded for correctly predicting the price that would come up rather than for rewarding agreement between parties, and which can both have different kind of models and can both work in different ways.But there is almost no possibility for one collusion across these landscapes, given the composition of the people in the network. And the incentive structure again is obviously explicitly set up to discourage that. Third, all these forms are heavily, heavily regulated. I spoke about 20 years of its reputation and a giant, giant business behind kind of making a lot of this happen. And we're definitely incentive aligned to make this thing as successful as it can possibly be.Austin (25:39):The Web 2.0 world and the rise of FinTech apps has largely taught people that organizations that claim to be on their side often aren't. There's very legitimate reasons from a market making perspective that during the game stock run up and squeeze, users of Robinhood and other FinTech applications, their trading was turned off. Now, there's a bunch of really good backroom reasons for why that might have happened. But the effect is what matters to the retail trader, which is that they were using a platform that they thought gave them equal access to a market, that platform did not provide them equal and neutral access to a market.I think when people look at something like Pyth, it wouldn't be crazy to say that, well, the same incentives that made us think that Robinhood was on our side, could also be applied to Pyth. What is different about the Web 3.0 space and the construction of something like Pyth in your view that makes that not something someone should worry about.Kanav (26:37):Web 3.0 is fundamentally any means of resource coordination, and it facilitates that by, one, facilitating the export of trust. And the export of trust is actually one of the big reasons why the whole Robinhood debacle went on, right. They basically ran out of margin requirements in order to continue to clear trades on one side, since it was so directional.And there is this massive web of intermediaries that set up all throughout traditional finance for the express purpose of establishing trust as the FCM, the DCM, the clearinghouse, all the other three letter acronyms. And all of them exist to make sure that when a match occurs on any platform that actually settles into a financial trade.In crypto the match is the execution. And that's facilitated by the fact that you can export all the trust of executing a piece of code onto Solana, onto Ethereum, onto the blockchain itself. And that's unlocked this completely new means of resource coordination, which makes things like Pyth possible. It means that you can explicitly lay out a system of incentives in a closed loop fashion. And regardless of who's uploading the code, or who's proposing designs or architecting any of this, everybody is independently participating according to the incentives laid out very plainly by the program itself.And that means DRW and Jane Street don't have to trust Jump when they decide to publish prices to pay. That means they look at the program that's running on Solana that they can read. They look at Solana's trust model and decided they can or don't trust Solana as a platform. And then contribute to the platform that then self executes and lives on its own terms. And the fact that we can allow different kinds of state to compose in a trustless fashion is the entire revolution Web 3.0, that's basically what the whole space has been building for the last 10 years. And that's what makes Pyth possible, it simply was not possible before.Austin (28:32):What does something like Jump or Jane Street or anyone who's a data contributor to Pyth, what do they get out of it? What is their incentive apart from any rewards that might be generated from contributing data. How are they then going back and using this on chain data in their own operations?Kanav (28:51):There's a few elements. And so one, it is fundamentally a two sided marketplace, right? It has data publishers and it has data consumers. And the other interesting thing like Uber did for taxi cabs, where it created a marketplace where cars could now come online, created this marketplace where data that was once latent came online.Jump is publishing its own trades to the Pyth network. That is IP that it has the legal rights over, has only just been a cost center so far, and now has the opportunity to get monetized. And that's the same for all of the trading firms that sit in the network. It's a lot of people to turn cost centers into potential elements in the marketplace and that bootstraps the supply. The consumers of the data obviously are paying for this extremely created highly robust set of data inputs that then get aggregated. And that creates kind of flows in one direction. And then like your regular two sided marketplace, it accrues value, right?All the data publishers today in Pyth have some sort of stake of asset interest in the thing succeeding. And there is a set of incentives that then rewards them for the correct participation going on with fees, rewards, all those kinds of things. And all that is in gross detail laid out in the white paper and we can go over some of that. But the off chain applications and some of this stuff is also quite interesting, right?So if you look at kind of back office systems around the world at forms like Jump, you don't need microsecond level access to financial data, but you need that for your trading engines because otherwise you're playing at a disadvantage related to the field. But in order to make sure that your clearing prices have happened correctly in order to make charts in order to do something like a trading view, in order to get on the Bloomberg terminal or to be on a ticker somewhere, all these applications are now easily facilitated by subscribing to something like Pyth, that's living on an open kind of blockchain area. And so a lot of the off-chain use cases are getting more and more interesting I think over time. The fundamental value is in creating the pricing source for on chain data. And this is kind of like an awesome thing that just falls out of it.Austin (30:56):That's a really interesting way of thinking about both the incentive alignments and the rule that the data providers versus the data consumers play in the market. Are there any token plans for Pyth?Kanav (31:07):Yes, there is a token plan for Pyth. You can read all about it on the white paper, no comments on timing or anything of that at this point. And that's going to be a networking governance decision, but I'm sure in the near future.Austin (31:16):Transitioning over to Wormhole, which is the other project that Jump is heavily involved in as a core contributor of the code. When people look at wormhole, I think it's very easy to look at it and say, asset bridge, multi chain, cool, fundamentally utility. The first thing I noticed when we were talking about this and looking through it is this whole component of allowing different smart contracts on different blockchains to communicate with each other. I think most people understand how asset bridging works. Can you talk a little bit about this whole concept of message bridging?Kanav (31:51):Yeah. And this also kind of goes back to your question on, how do you decide that there's an opportunity here when bridging is something that people have talked about for a while? When we were kind of ideating with everybody else on kind the Pyth's team and the network on how Pyth goes across chain. Hendrick and team were building Wormhole as Solana Eths token bridge on the hackathon project at [inaudible 00:32:17].And I called Hendrick and I asked him, "Look, is there a way to generalize this thing so that we can get Pyth messages across?" We're building this Oracle thing on the best, fast, scalable censorship resistant message bus we can, but we want to get it to all the other ones that operate on a slightly different resolution. And through the course of that conversation, we came to a conclusion that enabling generic message bosses to allow this cross chain composability in a much more high dimensional fashion than just the token bridge word was a massive opportunity set that had to be filled.And so when we launched last August as a completely generic message bus. And what that means is that any piece of state that is created or lives on a blockchain can be included as a message that then gets communicated to any other blockchain environment. And so if you think about Oracles, you think about a governance board, right? Uniswap passes a governance board on Ethereum, produces workloads on a lot of different chains. The outcome of that governance board has to, in a secure, reliable fashion, be communicated to all the other geographies that Uniswap lives on. That needs to be encoded as a message.And so Wormhole has outpost contracts on every chain that is deployed, it is deployed over eight chains today. The outpost contract just listens for a message that is sent to that contract and the Wormhole network of guardians attests to that arbitrary binary block. That block can then be picked up, relayed to any other blockchain environment, verified that is coming attested from the homeowner network and then decode to do anything arbitrary and interesting. And so generic message process have really exploded over the last year. We've seen so many awesome applications being built on it. And I think we're just kind of scratching the surface, right? There's a lot to do here.Austin (34:04):When I think about messaging, I think about how a lot of the models right now for cross chain communication of assets are a little tedious and maybe have more risk inherent to them than are necessarily required. A very centralized example, USDC, right? You can go to FTX and you can withdraw USDC as an ERC-20, as an SPL token or across several different networks. And what's happening there largely is because the mint authority to that is centrally controlled. They're able to issue new, quote unquote new USDC natively on each layer that USDC is supported on. Do you see the capability of developers using something like Wormhole to make that possible for fully decentralized, both stable coins and just asset tokens?Not only possible, but already widely adopted in the Wormhole X asset framework, right? There's over four and a half billion of assets in the token bridge today. And the word token bridge kind of has meant a lot of different things to people at different points in time, right? The old token bridges were bidirectional, state sponsored bridges that sovereign ecosystems would run to communicate to Ethereum, to get liquidity in as soon as possible.And then if you send that across a different bridge, then you would have like a double wrapped and triple wrapped implementation and just an absolute UX nightmare. When you use something like Wormhole's X asset framework, you retain complete path independence as you move assets across the ecosystem. Once you're registered as an X asset, let's take USD as an example, there's a couple billion dollars of USD on the bridge today. It flows throughout the ecosystem using Wormhole on the back end, Terra bridge money, uses one more on the back end to expose one of many front ends to users.When USD flows from Terra over to Ethereum or to Solana to Polygon and then to Avalanche, it retains the same representation on Avalanche that USD flowing from Terra to Avalanche directly or through any other part in the ecosystem would retain. It's a truly cross chain native asset. It doesn't fracture liquidity, it fungus seamlessly, and it allows a lot of cool composition.If you look at something, now like the result in second order effects of this, it's this theme that we've been calling X Dapps, right? So cross chained apps. And we've seen kind of the first marquee deployment of one of these apps in the form of X anchor, which is deployed on the Avalanche chain now, right?And X anchor is just a light set of endpoints that's deployed on Avalanche. And all that does is it lets you kind of hit some functions that then really assets and/or messages bundled or separately or back to the Terra blockchain and then trigger state transitions on the Terra site. Anchor contracts don't need to be deployed to every chain. You don't need to replicate state everywhere, you don't need to stay synchronized continuously. But you allow for outposts and communications and different chains to then communicate back to the home chain using messages and assets. And now the USD that's in the X asset standard can be deployed to X anchors everywhere. And it's a much faster, much more robust getting strategy that has far less communication over.Austin (37:07):Let's dig into just a little bit on like a technical level too. When you're talking about X Dapps or cross chain Dapps that are communicating via Wormhole, you're inherently talking about fractured state across multiple L1s or L2, it's unavoidable when you're ... anything cross chain is inherently working under a fractured state model. How fast does that time synchronization need to be for developers to actually deploy something like an AMM or a club across chain and actually maintain price parody and appropriate liquidity between them.Kanav (37:42):Yeah, I'm glad you brought this up. There's a few different programming models for how cross chain Dapps works, right? One is you try to state synchronize as aggressively as possible. You keep sending messages back and forth. You have allowances, risk limits, tolerances that allow your apps to communicate. And the other is this X Dapps framework where state only lives on one chain and you allow people from other chains to then interact with it.Now, of course that also comes with its own downsides, right? If you look at something like a club and you're trying to trigger a cross chain swap using the club from another chain, you are inherently incurring the latency of the two blockchain transactions and the finality assumptions that you want to kind of work with that. The more stateful your application becomes, obviously the more latency and risk constraints everything through. With something like a lending protocol or like a cross chain anchor, things like that. They are less stateful than something like an order book, but order book is probably the most stateful you can get right in the spectrum of applications.And so any cross chain swap design inherently has to have some additional liquidity back then, that's like fundamental, right? You can ask people to take risk on your behalf. You can have the protocol take risk on your behalf, but that risk exists. There's a lot of ways to program around it and create better user experiences, but fundamentally that's a real problem and somebody has to be compensated with that risk.Austin (38:56):For the X Dapp framework, are you looking to actually be able to offload compute to the wormhole level there? Or is it really just ... The natural extension of this seems to be that eventually there's some sort of state storage on Wormhole that Dapps are able to actually access and leverage with some functionally side chain compute resourcing. Are you guys thinking about that as well?Kanav (39:19):Yeah. The fundamental cross chain thesis is that there are going to be independent, specialized compute environments that attack their own communities, their own audiences and their own apps. And Wormhole is away for folks to leverage state that results from these autogenous environments and compute the solutions on these environments to compose.And you can cut that in a million different ways. You can leverage Solana as a state execution machine. You can leverage Terra as your stable coin asset layer and you can represent this third thing as a NFT thing, or you can bundle them all in. But the Wormhole vision itself right now with all the genetic message capabilities that are out there, in the near term roadmap doesn't need to build an execution layer of its own. It can naturally extend to it. I think you're definitely kind of pointing to something that's relevant.But I don't know if that's the lowest hanging fruit given the capacities that exist in current blockchain compute environment. The vision of course is to make people, Web 3.0 users rather than blockchain users or L1 users. You basically want to deploy resources to the most relevant execution environment with the right community, that's creating the right apps and then expose that to at a higher order to consumers.Austin (40:24):Would you describe Wormhole as layer zero?Kanav (40:28):I'm rather old school, I think of layer zeros as networking protocols and internet backbones and things like that. I think it is maybe a useful analogy for kind of blockchain audiences given how we've very economically can't use the word L1, so I don't have an allergic reaction to it, but it's not my first word of choice.Austin (40:46):What would your first word of choice be?Kanav (40:49):Interoperability protocol. I'm not that creative.Austin (40:51):Yeah. Wormhole is also supporting wrapped NFTs, which is kind of an interesting concept. I think most people don't think of NFTs as something that's been bridged and quite frankly, the numbers on Wormhole on bridge NFTs are quite low compared to the success as an asset bridge or a messaging bridge. What was the original idea of using wrapped NFTs? And why do you think it hasn't caught on as much yet?Kanav (41:20):I think cross chain NFTs as a story are just beginning to play out. So there's about 16, 1700 on the NFT bridge itself. And again, NFTs are also cross chain fungible and composable across environments. They are also part of the X asset framework. And so X assets can mean anything. It can be in rebasing assets like STE, it can be in NFTs. It can be in fungible assets. It can mean anything else, right?The NFT story started to play out as a result of new other ones trying to access marketplaces that supported one or the other chain, right? And so you get to access as new audiences, you get to create experiences with different communities. You get to access different user bases, but we're seeing the experiences get a lot richer. So you see something like [inaudible 00:42:00] come out recently, they got featured on Bloomberg for new cross chain staking program where they have in game elements that kind of change based on cross chain NFT staking that are different experiences with different communities. And much like the asset bridge has that kind of globalization and cross pollination of commercial kind of elements. Cross chain NFTs are globalization kind of culture. And incorporating a lot of those elements across games that live on Solana, that live on Terra, that live on other environments and just creating those kind of richer experiences.And so we're seeing people make NFTs on one chain, come to Solana, fractionalize them, trade them, put them back in, move them over to OpenSea on Ethereum. There's all kind of interesting use case patterns. And so it's definitely been less aggressively adopted than the explosive token bridge or the other generic message applications. But there are still 16, 7,000 NFTs, there are a lot of teams using it for cool and innovative stuff that we just kind of keep up out of the wood works every some time.Austin (43:02):Do you think that's social? Do you think that's technological? Do you think that's just like the ecosystem hasn't matured enough? I think I'm surprised how much ... well, I guess surprises maybe the wrong term. People have a lot of emotional attachment to an NFT, in the same way they don't have an emotional attachment to a Bitcoin. They may have emotional attachment to the concept of a Bitcoin, but I would be upset if I lost my particular Degen ape, even if I got a different one for the exact same value. Do you think that factors in at all to how people view the concept of wrapping an NFT, that it somehow weakens the authenticity?Kanav (43:39):I think for a lot of purists, it does. I think it was just so worthy, right. For the most part, people aren't even going to realize, the large end of this consumers like buying these things, an NBA top shot or air, or any of these other platforms, it's something on the app for them. And eventually it's going to be extracted away as we draw to Eth, we draw to Solana, we draw to wallet, connect wallet, and it's going to be kind of as simple as that. And so we're always going to have purist stakes, but I think that's going to remain within our little chamber here.Austin (44:05):For Jump Crypto in general, how do you view NFTs? There are obviously firms now that are dabbling and market making and NFTs. Is that something that you've looked at and if not, what was the decision not to enter that space yet?Kanav (44:19):It just doesn't take a lot. We are looking at trading opportunities. You are looking about margins, you're looking about what predictive offer you can have, like what the edge you can have on a traders and then how many times you can apply that edge, right? It's just as simple as that. And even if you can get a 30% margin on something that trades a hundred million like week one, I mean, [inaudible 00:44:40] now.But if you have a low volume asset class, even if it has slightly higher edge, and it is harder to predict and more dimensional, this is on a good researching decision. So as that volume changes, we will continue to stay on top of it. And I don't know if these are trading tens of billions of dollars every day, and have really interesting datasets, I'm sure we'll be trading them.Austin (45:00):If the market hundred X in size, you wouldn't be opposed to it, it's just the sizing opportunity issue right now.Kanav (45:08):[inaudible 00:45:08] you can't be the richest man. It's about identifying if there's opportunity and executing all native there is.Austin (45:14):Looking at wormhole, one of the things I do want to touch on is the wormhole hack and exploit that happened a little while ago. It was one of the larger bridge hacks at the time. It was eclipsed a few weeks later by an even larger hack of another bridge, also targeting stolen Eth in this process. I'm sure that activities and projects that Jump has been involved in have had larger losses of money or similar volumes of money just based on the area you operate in. But this is one that inherently to the nature of Web 3.0 is very public. How is that like internally knowing that your core contributors to a project that suffered this kind of exploit, and also that failure is now a public failure, as opposed to maybe where it would've been a private failure beforeKanav (45:56):Building is hard, building in the open is even harder. And building in a decentralized open space where there's a large network of participants, consumers, affected people, the stakes we're playing in, right? That's the stakes that every DeFi application, that every L1 at every bridge and that everything in Web 3.0 that aims to do something meaningful inherently adopts and has to learn to deal with.The hack was big punch in the gut, obviously a big financial loss as well. The fundamental nature of smart contracts is that the code and code can have bugs. And this exploit was kind of deep, deep, deep down in the stack, in kind of like Solana instruction verification account check that was missing. The auditors listed our team that has independently been one of the biggest bug bounty finders in the space missed, and code based at the opportunity to be out in the wide for seven months, kind of had unchecked.The day of the hack, of course really, really rough. Jump is not used to being a public institution. So this was like you said, a very public kind of fallout in nature. I can't possibly have been prouder of the way the team reacted to this incident. We kind identified it within short course of it happening. We pulled the meeting room together, identified the bug, fixed up a batch, managed to coordinate the guardian network to bring it up, bring it down, announce our intent to refill the gaping 320 million hole within an hour of the incident being reported on, and brought the bridge back up within 18 hours to end to end.Building bridges and building cross chain is very, very hard. And that's where the reward for it, building it right, is even harder. You don't even make 320 million decisions very lightly, and this should hopefully signify you how much conviction and faith we have in the code base in bringing it back up in 18 hours. It should tell you about where we think this whole space is going and where Wormhole is going and where interoperability is going and what a core piece of infrastructure in that realm would mean.Security continues to be extremely, extremely top of mind. We have a 10 million bug bounty. We have an internal red team that's basically thinking about breaking Wormhole and our key projects every day. We have multiple audit from [inaudible 00:48:12] with lots of audits going on, pretty intense security review practices, all of which can be found publicly online. And I'm incredibly confident that Wormhole has come out more stronger from this incident. The team has come out kicking and that we're building one of the best and most trusted inter op solutions out there.Austin (48:32):Looking across the ecosystem, let's say over the next 12 to 18 months, what are you personally most excited for and what keeps you up at night? What do you still have worry around?Kanav (48:44):I'm looking forward to a whole bunch of things. So definitely very excited about all the advancements that we are seeing in the succinct proof and zero knowledge space. That stuff is just awesome, it's magic. And I'm just so excited to see all the things that's going to unlock for us. There's a lot of interesting problems in the hardware acceleration space that need to be made to make that possible. There's a lot of problems algorithmically that are kind of being uncovered there. And I think hopefully this conversation has lent on that we have a big infrastructure mindset. When I say streets and sanitation, that's kind of what we think about every day. That's what we're looking forward to. And on what we can build to and contribute to that.Austin (49:19):You said something I got to get a little more info. You said specific hardware to accelerate certain kinds of applications. The only place we've really seen this so far across the entire crypto landscape is ASICs for Bitcoin mining. You see GPU mining optimization, but again, nowadays I wouldn't necessarily even call GPU specialized hardware. It's really commodity hardware at this point that's just deployed for a specific application. When you're looking at the space, where are you seeing actually custom silicon or FPGAs becoming something that it makes sense to deploy?Kanav (49:50):Yeah, I mean, definitely for zero knowledge provers, right? So like two verification times have compressed a lot to the point where it's pretty feasible on most blockchain environments today. But proving itself is still super, super resource intensive. That's where there's a lot of simple math operations that can be encoded into Silicon and into FPGAs or ASICs to speed up the process significantly. And that's where we are seeing a lot of adopt. There's already a lot of people working on this on hardware acceleration using FPGAs, maybe even ASICs on zero knowledge provers.It's a little bit of like it's tough to say when the right time is because there's new changes like algorithmically coming out all the time with the new advances in new papers. And so when you spend a whole bunch of time just optimizing Fast Fourier transforms. And then the next paper makes Fast Fourier transforms not relevant. It's tough to make a decision on when the right time is, but I know there's a lot of work already going on into it. And it's a space that we are very familiar with and that we are also excited about. And mostly, mostly positive stuff on the regulatory side.Kanav (50:56):As of recently I think there's a lot of good faith engagement from regulators around the world on setting frameworks and policies for how kind of all this stuff gets put into place. Outside of maybe China we haven't seen anything very aggressively or handed on cutting off innovation. We even saw India now finally starting to open up. And so I feel more optimistic about the regulatory landscape than I did 12 months ago. We need a new influx of builders to keep coming and building cool experience and leveraging this technology where we're seeing that happen. We need capital being continued to commit to this space where we're seeing that happen.Austin (51:35):The inverse of that question, what are you most concerned about on a macro level for the space still?Kanav (51:39):Asset pricing is of course highly dependent on macro environment and that is unrelated to crypto, right? And there's just like, it's its own thing. And so we'll see price movements on a different time scale. And if you see a very sustained global macro depressed environment, then we're going to see less capital, less builders and less momentum in the space. And I think that's probably the biggest overhang we have today.Austin (52:03):In the long run we're all dead.Kanav (52:05):In the wrong run we're all dead. That's right, so let's keep building.Austin (52:09):Yes. One kind of last question here, I think if you rerun the clock maybe three or four years, the prevailing wisdom in this space was not that traditional financial institutions were going to expand their vision and embrace blockchain and we'd call it Web 3.0 at the end of the day. And you'd have Twitter profile pictures of NFTs, you'd have Jump Trading building software that's open source for a decentralized environment. And we really have seen that that is what was originally pitched as a forked parallel path of economic development.Austin (52:42):It's a little bit more twisty curvy than we thought it was going to be. And there's a lot more integration with traditional companies. As crypto has a thesis about it, that it's moving more consumer, right? Across the spectrum you see more normies getting into crypto in one way or another. Does the existing market of specifically the United States and Europe where you see very few competitors within an ecosystem.Austin (53:07):There's basically only two phone companies. There's basically only three cell phone companies. There's basically only four internet provider companies. Across the spectrum you see very non-competitive markets. When you look at the consumer landscape in the United States, do you imagine that we're going to see similar patterns rolling out there as we saw in the financial industry, or we really are going to go back to that idea of a parallel execution model?Kanav (53:30):Yeah. I'll strongly state that I don't hold a heretical view of this kind of being a completely forked off parallel path that has no relevance to anything that we do today. I think it's an amazing technological invasion that gives us tools to coordinate resources in an untrusted environment. And that's unlocking a lot of magic.Kanav (53:49):But that again bleeds in with the rest of the real world, which is also big and has its own dramatic pieces of innovation and with a whole bunch of other stuff going on. I think one of the most exciting things has been kind of the global equalizer that crypto can serve to be. Yesterday we saw Polygon come out with an integration with Stripe. And these are three kids from India that had no early supporting or backing that kind of boosted the network on their own and are now competing on a very, very competitive landscape with people from every single part of the world that are very well resourced, competent teams.Kanav (54:23):We see [Inaudible] coming from Korea. We see teams from Australia and New Zealand over the [inaudible 00:54:28] guys. We see people from Berlin and the US and everybody competing on the same, not only the similar consumer markets, but also on the same capital markets. And there are network effects that accrue, but not cannibalistic network effects that accrue. That makes me very excited about where the space is going overall. When we talk about integration points itself, it's going to largely depend on [inaudible 00:54:52], right? And that's like an unsatisfactory answer.Kanav (54:55):But if you're talking about financial markets, crypto is already integrated heavily into the financial markets with 15 excellent international venues that are competing, so we already have a fractured environment. That is before the [inaudible 00:55:08], the NASDAQ, the CME groups have made their moves in the space. And they're clearly not going to be monopolies in crypto, obviously, right?Kanav (55:16):If you look at something like a telco and interactions with like cell networks still remains to be seen, whether like decentralized constructions of those kinds of things can be competitive. I mean, building telcos and stuff has such strong network effects and so many economies of scale. And it's unclear whether a Web 3.0 means of accruing that value to a decentralized organization has the ability to accrue the similar kind of network effects and so remains to be seen. But I'm excited to see it play out.Austin (55:43):I always enjoy getting to pick your brain about where these technologies are going and the intersection of a very traditional financial world with this new global system that we've all been building. But thank you so much for joining us for spending some time digging into this stuff.Kanav (56:00):Thanks a lot for having me on Austin. This was super fun and as always, love chatting, so yeah, we'll see you again soon.Austin (56:04):Thanks.
Today on the Ether we have episode 1 of the Ship Show with Kanav Kariya of Jump Crypto and Do Kwon of Terra Money. Recorded on March 1st 2022. Make sure to check out our sponsors, Orbital Command, Luart, Talis, and WeFund! We appreciate their support.
Slope Finance, the startup behind a digital wallet for the Solana blockchain, has closed an $8 million Series A funding round co-led by Solana Ventures and Jump Crypto. Slope management told CoinDesk the funds will help expand the team in the U.S., where Slope launched its first office last month, and for user-acquisition efforts. The KuCoin Community Chain (KCC) has unveiled a $50 million accelerator program aimed at empowering projects in its ecosystem. The program will finance initiatives such as a developers bounty, hackathons, incubation funds, liquidity support and listing recommendations, KCC announced Friday. The KCC is a public chain project built by developers in the crypto exchange KuCoin community. KuCoin's native token KCS is Ethereum-based and is one of many aimed at solving the problem of high gas fees (transaction fees) on the network. Holders of KCS (which stands for KuCoin Shares) receive a daily share of transaction fees accrued by the KuCoin blockchain asset exchange proportionate to the amount of tokens they hold. Fintech and digital payments giant Block reported better-than-expected 2021 fourth quarter results after the market closed on Thursday. Total revenue was $4.08 billion, up 29% year-over-year, narrowly topping the $4.04 billion analyst consensus. Excluding bitcoin, revenue totaled $2.12 billion, up 51% on the prior year. Adjusted EPS was $0.27 versus the $0.19 estimate. The peer-to-peer payment service Cash App, which allows users to directly buy and sell bitcoin, generated $1.96 billion of bitcoin transactions and $46 million of gross profit in Q4, up 12% and 14% year over year, respectively. For perspective, total company gross profit for Q4 was $1.18 billion. Coinbase (COIN) shares fell in postmarket trading Thursday as the company reported strong fourth-quarter results but said it expects some headwinds in the first quarter. Coinbase reported fourth-quarter revenue of $2.5 billion versus analyst estimates of $2.0 billion, while adjusted earnings per share came in at $3.32 , versus estimates of $1.94, according to FactSet. The company posted $2.3 billion in transaction revenue in the fourth quarter versus $1.1 billion in the third quarter.
#terra #luna #shib #shiba #ethereum #eth #bitcoin #btc #ethereum #solana #cardano #cryptonews #crypto #xrp #ripple #matic #polygon #metaverse #nfts #putin #rusia Terra Luna acaba de recaudar mucho dinero para financiar su reserva de Bitcoin para la moneda estable UST. The Luna Foundation Guard (LFG - agradable) acaba de recaudar $ 1 mil millones a través de una venta extrabursátil (OTC) de LUNA, liderada por los gigantes de criptoinversión Jump Crypto y Three Arrows Capital, con Republic Capital, GSR, Tribe Capital, DeFiance Capital , entre otros. Los mil millones de dólares se utilizarán para comprar Bitcoin (BTC) que se utilizará como respaldo de reserva para UST, lo que convierte a UST en una moneda estable algorítmicamente respaldada parcialmente, ya que está respaldada por otro activo además de su propio token LUNA. Más allá de una mayor descentralización de la moneda estable, respaldar UST con Bitcoin brinda una mayor confianza en la moneda estable, ya que UST ya no está conectado únicamente a un único punto de falla en LUNA.
This week on the Jump Off Point: Crypto edition, we'll be welcoming Dave Olsen, President and Chief Investment Officer of Jump Trading Group, and Kanav Kariya, President of Jump Crypto, to discuss the events surrounding the Wormhole hack last week. Dave and Kanav will take you into the room when the hack was identified, walk through the thinking behind replacing 120,000 of stolen ETH, and explain why they believe Wormhole is essential infrastructure for the crypto ecosystem.
Introduction- Kanav is the President of Jump Crypto (@JumpCryptoHQ)- Jump Trading is one of the largest quant trading firms in the world and moved into crypto ~6 years ago- Grew into what Jump Crypto is today with 140 employees- Jump Crypto has been trading, building and investing in the space- Ledger: Who wins in a cage match, Alameda or Jump? Kanav: Depends on the rules!- Crypto was a trading problem to solve at first, sandbox environment for people to play with without messing up existing systems- As the space started to grow and as DeFi emerged there was a similarity to traditional environments and they got more involved- Own crypto on the their balance sheet not just when making plays Intern to President- Jump is a very flat organisation usually three levels at most away from the top- A lot of freedom to work on things and push it further with more resources for what works- Kanav worked early on crypto projects that performed well and it led to getting his position and still building out the team- All in, all of the time. Always looking for engineers and ops people- Recently brought on a CMO Sophisticated Competition- Jump and most traders are playing on different time horizons e.g. seconds to minutes- Smart contracts and aspects of DeFi are less competitive as firms are still apprehensive Trading Systems- Some are highly automated others have more manual intervention. Alpha building process to build prediction models then plug it into an execution system- However there are things about the markets the models aren't aware about that someone with pulse on the market would know- Mature risk management is in place taken from Jumps historical experience. A lot of it is hard coded in to prevent people putting on over sized positions- Not a lot going on with options markets, much smaller than everything else. Just because it hasn't worked in the past doesn't mean it won't so will continue to watch Narrative Surprises?- Built the first highly electronic OTC desk but the narrative didn't play out to the expected extent. Institutional narrative was slower to play out - a lot of red tape to get through for institutions and waiting for regulatory clarity but believes it's still going to happen- How long Uniswap V2 has continues to be incentivised continues to be surprising Wormhole- CertusOne built the V1 and they were acquired by Jump. Wormhole connects 7 chains now transferring a lot of different information. Governed by 19 guardians, of which Jump Crypto is one- Wormhole had a 120K ETH hack recently- Developer noticed some discrepancies and they all jumped on a call to confirm the vulnerability then it was all hands on board to deal with it- Jump Crypto made the decision to backstop the funds Hopes for the future- Phantom and Solana pay type stuff- You see the uses on twitter, looks great- No on knows what a seed phrase is! We need better UX- On the gaming and metaverse side - i just want to have fun and be able to play a game- On the research side - ZK seems promising would like stuff there FINAL ALPHA- Harness the power of asymmetric upside- If you can see asymmetric upside and then place a lot of bets, you gmi
Cryptocurrency & FinancialMarkets News, Stats& Data for 19th Jan 2022break out soon - get ready to buy Today I talk about the following:1. Market Stats, Trading models, Technical analysis, Sector performances & liquidity2. Fiat markets, Economics, Central Banks, Regulators and Government news3. Social media, & Greed and Fear index4. Derivative Positions & Leverage & Risk Metrics5. Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint – Bitcoin News. Crypto exchange Binance is launching a new exchange in Thailand after the country's Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand.6. Nexo partners with Bakkt . Nexo will use Bakkt's Warehouse to safeguard its customers' crypto assets.On January 19, Bakkt Holdings Inc announced a partnership with Nexo, a cryptocurrency-backed loan platform, to custody crypto assets in the Bakkt warehouse. The partnership will see Nexo using Bakkt's Warehouse to safeguard its customers' Bitcoin and Ether holdings. Bakkt warehouse is a regulated custodian, which allows for secure and safe storage of Bitcoin and Ethereum. 7.Cryptocurrency exchange Coinbase has partnered with Mastercard to allow a “broader group of consumers to purchase NFTs” by allowing users to pay with Mastercard cards on the platform's upcoming NFT marketplace. https://blog.coinbase.com/coinbase-and-mastercard-partner-to-revolutionize-nft-purchase-experience-8e486a392c558.Popular cryptocurrency exchange Crypto.com halted withdrawals for a short period earlier in the week over an alleged security breach that saw a hacker steal $15 million worth of Ethereum (ETH) from its hot wallets. https://www.coindesk.com/markets/2022/01/18/binance-destroys-16m-bnb-tokens-in-first-ever-auto-burn/ 9.The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply is over 40.06 billion tokens, above USDT's 39.82 billion. The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply on it is over 40.06 billion tokens, above USDT's 39.82 billion. https://cointelegraph.com/news/usdc-flips-tether-on-the-ethereum-network10. Intel – the world's second-largest semiconductor chip manufacturer – appears to be planning a Bitcoin mining chip reveal. At this year's ISSCC conference, the organization has a presentation scheduled under the “Highlighted Chip Releases” category to showcase a “Bonanza Mine” processor.https://cryptopotato.com/intel-plans-bitcoin-mining-chip-reveal-at-upcoming-conference/11· The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.https://cointelegraph.com/news/iran-to-reportedly-pilot-central-bank-digital-currency-soon12· The total supply for Circle's stablecoin USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time. USDC's current supply on Ethereum as of writing is 40.06 billion tokens, just ahead of USDT's supply of 39.82 billion.https://coinnounce.com/usdc-surpasses-usdt-in-total-supply-on-the-ethereum-network/13· One of the world's most prominent cryptocurrency exchanges, OKEx, has invested in the short-video platform Chingari which announced raising $15 million in a funding round.. As part of OKEx's strategic investment in Chingari, the startup's native token GARI will be listed on the exchange on January 18. Five more crypto exchanges are set to list the token on the same day.https://cryptopotato.com/india-based-tiktok-competitor-chingari-closes-15-million-funding-round/14· South Korean Presidential Candidates Pledge Lower Taxes for Crypto Traders, End to ICO Banhttps://cryptonews.com/news/south-korean-presidential-candidates-pledge-lower-taxes-for-crypto-traders-end-ico-ban.htm15· Byte Trading, a crypto market maker specialized in derivatives, has raised $7 million in a seed funding round.https://www.theblockcrypto.com/post/130653/crypto-market-maker-byte-trading-raises-7-million-in-seed-funding?utm_source=cryptocompare&utm_medium=rss16· Metaplex Foundation announced a $46 million funding round on Tuesday, co-led by Multicoin Capital and Jump Crypto. The fresh raise will go towards “expanding support for gaming and metaverse applications,” the company said in a statement to Blockworks. Metaplex, the Solana-based protocol developed by the firm, is commonly used in minting non-fungible tokens (NFTs), as well as an infrastructure for creators to launch self-hosted NFT storPlotX, a gaming Dapp built on Polygon, received a $5 million pre-Series A investment and grant from Polygon & Hashed. As one of Polygon's fastest-growing GameFi ecosystems, PlotX will be able to use this extra capital to increase its already sizable user base further.17· Hashed, Polygon Studios, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), and power angels such as Sandeep Nailwal (Co-Founder Polygon) and Alan Howard (Co-Founder Brevan Howard Asset Management) participated in the round, which raised a total of $70 million.efronts. The protocol has minted over 5.7 million NFTs since its inception, according to the startup.https://thenewscrypto.com/plotx-acquires-5-million-in-funding-grant-led-by-polygon/18· PlotX, a GameFi protocol aiming to create sustainable play-to-earn (P2E) ecosystems, has announced the completion of a $5 million pre-Series A funding round and grant-led Polygon Studios and Hashed helping them expand to reach a global audience, details from a press release on January 17 reveals.https://coinquora.com/plotx-secures-a-5-million-funding-round-led-by-polygon-and-hashed-launches-staking-program/19· Cryptocurrency individual retirement account and 401(k) provider iTrustCapital said it had raised $125 million in a growth equity investment, making its valuation reach $1.3 billion. In a Wednesday announcement, iTrustCapital said it had completed a $125 million Series A growth equity investment led by New York-based VC firm Left Lane Capital. The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions.https://cointelegraph.com/news/crypto-ira-itrustcapital-raises-125m-pushes-valuation-over-1b20. https://cryptopotato.com/vc-firm-blossom-capital-raises-432m-to-invest-in-the-cryptocurrency-ecosystem/· The UK firm Blossom Capital intends to invest one-third of the $432 million in both digital assets and companies that develop crypto infrastructure. · The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry.21. www.cryptonewsz.com/the-algorand-foundation-announces-partnership-with-icon/The Algorand Foundation recently announced a partnership with ICON by offering them the Bridges SupaGrant. The integration will also allow Algorand to enter ICON's BTP Working Group, known for its Interoperability Ecosystem.With the collaboration, the community will witness the perpetual growth of the diverse, growing, and vibrant Algorand ecosystem. Moreover, the Algorand Foundation will gain a security partner with the BTP integration.It also opens the door of opportunities for future upgrades and maintenance needed to the bridging integration. You can know more here about Algorand's potential as an altcoin investment. As ICON's state-of-the-art interoperability solution, BTP is both trustless and decentralized. In addition, it is completely secured via cryptography, making it a viable solution in the modern blockchain market. After adding Algorand, the BTP network now holds multiple renowned ecosystems.and more
Cryptocurrency & FinancialMarkets News, Stats& Data for 19th Jan 2022break out soon - get ready to buy Today I talk about the following:1. Market Stats, Trading models, Technical analysis, Sector performances & liquidity2. Fiat markets, Economics, Central Banks, Regulators and Government news3. Social media, & Greed and Fear index4. Derivative Positions & Leverage & Risk Metrics5. Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint – Bitcoin News. Crypto exchange Binance is launching a new exchange in Thailand after the country's Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand.6. Nexo partners with Bakkt . Nexo will use Bakkt's Warehouse to safeguard its customers' crypto assets.On January 19, Bakkt Holdings Inc announced a partnership with Nexo, a cryptocurrency-backed loan platform, to custody crypto assets in the Bakkt warehouse. The partnership will see Nexo using Bakkt's Warehouse to safeguard its customers' Bitcoin and Ether holdings. Bakkt warehouse is a regulated custodian, which allows for secure and safe storage of Bitcoin and Ethereum. 7.Cryptocurrency exchange Coinbase has partnered with Mastercard to allow a “broader group of consumers to purchase NFTs” by allowing users to pay with Mastercard cards on the platform's upcoming NFT marketplace. https://blog.coinbase.com/coinbase-and-mastercard-partner-to-revolutionize-nft-purchase-experience-8e486a392c558.Popular cryptocurrency exchange Crypto.com halted withdrawals for a short period earlier in the week over an alleged security breach that saw a hacker steal $15 million worth of Ethereum (ETH) from its hot wallets. https://www.coindesk.com/markets/2022/01/18/binance-destroys-16m-bnb-tokens-in-first-ever-auto-burn/ 9.The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply is over 40.06 billion tokens, above USDT's 39.82 billion. The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply on it is over 40.06 billion tokens, above USDT's 39.82 billion. https://cointelegraph.com/news/usdc-flips-tether-on-the-ethereum-network10. Intel – the world's second-largest semiconductor chip manufacturer – appears to be planning a Bitcoin mining chip reveal. At this year's ISSCC conference, the organization has a presentation scheduled under the “Highlighted Chip Releases” category to showcase a “Bonanza Mine” processor.https://cryptopotato.com/intel-plans-bitcoin-mining-chip-reveal-at-upcoming-conference/11· The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.https://cointelegraph.com/news/iran-to-reportedly-pilot-central-bank-digital-currency-soon12· The total supply for Circle's stablecoin USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time. USDC's current supply on Ethereum as of writing is 40.06 billion tokens, just ahead of USDT's supply of 39.82 billion.https://coinnounce.com/usdc-surpasses-usdt-in-total-supply-on-the-ethereum-network/13· One of the world's most prominent cryptocurrency exchanges, OKEx, has invested in the short-video platform Chingari which announced raising $15 million in a funding round.. As part of OKEx's strategic investment in Chingari, the startup's native token GARI will be listed on the exchange on January 18. Five more crypto exchanges are set to list the token on the same day.https://cryptopotato.com/india-based-tiktok-competitor-chingari-closes-15-million-funding-round/14· South Korean Presidential Candidates Pledge Lower Taxes for Crypto Traders, End to ICO Banhttps://cryptonews.com/news/south-korean-presidential-candidates-pledge-lower-taxes-for-crypto-traders-end-ico-ban.htm15· Byte Trading, a crypto market maker specialized in derivatives, has raised $7 million in a seed funding round.https://www.theblockcrypto.com/post/130653/crypto-market-maker-byte-trading-raises-7-million-in-seed-funding?utm_source=cryptocompare&utm_medium=rss16· Metaplex Foundation announced a $46 million funding round on Tuesday, co-led by Multicoin Capital and Jump Crypto. The fresh raise will go towards “expanding support for gaming and metaverse applications,” the company said in a statement to Blockworks. Metaplex, the Solana-based protocol developed by the firm, is commonly used in minting non-fungible tokens (NFTs), as well as an infrastructure for creators to launch self-hosted NFT storPlotX, a gaming Dapp built on Polygon, received a $5 million pre-Series A investment and grant from Polygon & Hashed. As one of Polygon's fastest-growing GameFi ecosystems, PlotX will be able to use this extra capital to increase its already sizable user base further.17· Hashed, Polygon Studios, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), and power angels such as Sandeep Nailwal (Co-Founder Polygon) and Alan Howard (Co-Founder Brevan Howard Asset Management) participated in the round, which raised a total of $70 million.efronts. The protocol has minted over 5.7 million NFTs since its inception, according to the startup.https://thenewscrypto.com/plotx-acquires-5-million-in-funding-grant-led-by-polygon/18· PlotX, a GameFi protocol aiming to create sustainable play-to-earn (P2E) ecosystems, has announced the completion of a $5 million pre-Series A funding round and grant-led Polygon Studios and Hashed helping them expand to reach a global audience, details from a press release on January 17 reveals.https://coinquora.com/plotx-secures-a-5-million-funding-round-led-by-polygon-and-hashed-launches-staking-program/19· Cryptocurrency individual retirement account and 401(k) provider iTrustCapital said it had raised $125 million in a growth equity investment, making its valuation reach $1.3 billion. In a Wednesday announcement, iTrustCapital said it had completed a $125 million Series A growth equity investment led by New York-based VC firm Left Lane Capital. The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions.https://cointelegraph.com/news/crypto-ira-itrustcapital-raises-125m-pushes-valuation-over-1b20. https://cryptopotato.com/vc-firm-blossom-capital-raises-432m-to-invest-in-the-cryptocurrency-ecosystem/· The UK firm Blossom Capital intends to invest one-third of the $432 million in both digital assets and companies that develop crypto infrastructure. · The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry.21. www.cryptonewsz.com/the-algorand-foundation-announces-partnership-with-icon/The Algorand Foundation recently announced a partnership with ICON by offering them the Bridges SupaGrant. The integration will also allow Algorand to enter ICON's BTP Working Group, known for its Interoperability Ecosystem.With the collaboration, the community will witness the perpetual growth of the diverse, growing, and vibrant Algorand ecosystem. Moreover, the Algorand Foundation will gain a security partner with the BTP integration.It also opens the door of opportunities for future upgrades and maintenance needed to the bridging integration. You can know more here about Algorand's potential as an altcoin investment. As ICON's state-of-the-art interoperability solution, BTP is both trustless and decentralized. In addition, it is completely secured via cryptography, making it a viable solution in the modern blockchain market. After adding Algorand, the BTP network now holds multiple renowned ecosystems.and more
Cryptocurrency & FinancialMarkets News, Stats& Data for 19th Jan 2022break out soon - get ready to buy Today I talk about the following:1. Market Stats, Trading models, Technical analysis, Sector performances & liquidity2. Fiat markets, Economics, Central Banks, Regulators and Government news3. Social media, & Greed and Fear index4. Derivative Positions & Leverage & Risk Metrics5. Binance to Launch New Cryptocurrency Exchange in Thailand After Thai SEC Filed Criminal Complaint – Bitcoin News. Crypto exchange Binance is launching a new exchange in Thailand after the country's Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand.6. Nexo partners with Bakkt . Nexo will use Bakkt's Warehouse to safeguard its customers' crypto assets.On January 19, Bakkt Holdings Inc announced a partnership with Nexo, a cryptocurrency-backed loan platform, to custody crypto assets in the Bakkt warehouse. The partnership will see Nexo using Bakkt's Warehouse to safeguard its customers' Bitcoin and Ether holdings. Bakkt warehouse is a regulated custodian, which allows for secure and safe storage of Bitcoin and Ethereum. 7.Cryptocurrency exchange Coinbase has partnered with Mastercard to allow a “broader group of consumers to purchase NFTs” by allowing users to pay with Mastercard cards on the platform's upcoming NFT marketplace. https://blog.coinbase.com/coinbase-and-mastercard-partner-to-revolutionize-nft-purchase-experience-8e486a392c558.Popular cryptocurrency exchange Crypto.com halted withdrawals for a short period earlier in the week over an alleged security breach that saw a hacker steal $15 million worth of Ethereum (ETH) from its hot wallets. https://www.coindesk.com/markets/2022/01/18/binance-destroys-16m-bnb-tokens-in-first-ever-auto-burn/ 9.The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply is over 40.06 billion tokens, above USDT's 39.82 billion. The Centre Consortium's USDC stablecoin has surpassed Tether's USDT in total supply on the Ethereum network. USDC's current supply on it is over 40.06 billion tokens, above USDT's 39.82 billion. https://cointelegraph.com/news/usdc-flips-tether-on-the-ethereum-network10. Intel – the world's second-largest semiconductor chip manufacturer – appears to be planning a Bitcoin mining chip reveal. At this year's ISSCC conference, the organization has a presentation scheduled under the “Highlighted Chip Releases” category to showcase a “Bonanza Mine” processor.https://cryptopotato.com/intel-plans-bitcoin-mining-chip-reveal-at-upcoming-conference/11· The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.https://cointelegraph.com/news/iran-to-reportedly-pilot-central-bank-digital-currency-soon12· The total supply for Circle's stablecoin USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time. USDC's current supply on Ethereum as of writing is 40.06 billion tokens, just ahead of USDT's supply of 39.82 billion.https://coinnounce.com/usdc-surpasses-usdt-in-total-supply-on-the-ethereum-network/13· One of the world's most prominent cryptocurrency exchanges, OKEx, has invested in the short-video platform Chingari which announced raising $15 million in a funding round.. As part of OKEx's strategic investment in Chingari, the startup's native token GARI will be listed on the exchange on January 18. Five more crypto exchanges are set to list the token on the same day.https://cryptopotato.com/india-based-tiktok-competitor-chingari-closes-15-million-funding-round/14· South Korean Presidential Candidates Pledge Lower Taxes for Crypto Traders, End to ICO Banhttps://cryptonews.com/news/south-korean-presidential-candidates-pledge-lower-taxes-for-crypto-traders-end-ico-ban.htm15· Byte Trading, a crypto market maker specialized in derivatives, has raised $7 million in a seed funding round.https://www.theblockcrypto.com/post/130653/crypto-market-maker-byte-trading-raises-7-million-in-seed-funding?utm_source=cryptocompare&utm_medium=rss16· Metaplex Foundation announced a $46 million funding round on Tuesday, co-led by Multicoin Capital and Jump Crypto. The fresh raise will go towards “expanding support for gaming and metaverse applications,” the company said in a statement to Blockworks. Metaplex, the Solana-based protocol developed by the firm, is commonly used in minting non-fungible tokens (NFTs), as well as an infrastructure for creators to launch self-hosted NFT storPlotX, a gaming Dapp built on Polygon, received a $5 million pre-Series A investment and grant from Polygon & Hashed. As one of Polygon's fastest-growing GameFi ecosystems, PlotX will be able to use this extra capital to increase its already sizable user base further.17· Hashed, Polygon Studios, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), and power angels such as Sandeep Nailwal (Co-Founder Polygon) and Alan Howard (Co-Founder Brevan Howard Asset Management) participated in the round, which raised a total of $70 million.efronts. The protocol has minted over 5.7 million NFTs since its inception, according to the startup.https://thenewscrypto.com/plotx-acquires-5-million-in-funding-grant-led-by-polygon/18· PlotX, a GameFi protocol aiming to create sustainable play-to-earn (P2E) ecosystems, has announced the completion of a $5 million pre-Series A funding round and grant-led Polygon Studios and Hashed helping them expand to reach a global audience, details from a press release on January 17 reveals.https://coinquora.com/plotx-secures-a-5-million-funding-round-led-by-polygon-and-hashed-launches-staking-program/19· Cryptocurrency individual retirement account and 401(k) provider iTrustCapital said it had raised $125 million in a growth equity investment, making its valuation reach $1.3 billion. In a Wednesday announcement, iTrustCapital said it had completed a $125 million Series A growth equity investment led by New York-based VC firm Left Lane Capital. The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions.https://cointelegraph.com/news/crypto-ira-itrustcapital-raises-125m-pushes-valuation-over-1b20. https://cryptopotato.com/vc-firm-blossom-capital-raises-432m-to-invest-in-the-cryptocurrency-ecosystem/· The UK firm Blossom Capital intends to invest one-third of the $432 million in both digital assets and companies that develop crypto infrastructure. · The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry.21. www.cryptonewsz.com/the-algorand-foundation-announces-partnership-with-icon/The Algorand Foundation recently announced a partnership with ICON by offering them the Bridges SupaGrant. The integration will also allow Algorand to enter ICON's BTP Working Group, known for its Interoperability Ecosystem.With the collaboration, the community will witness the perpetual growth of the diverse, growing, and vibrant Algorand ecosystem. Moreover, the Algorand Foundation will gain a security partner with the BTP integration.It also opens the door of opportunities for future upgrades and maintenance needed to the bridging integration. You can know more here about Algorand's potential as an altcoin investment. As ICON's state-of-the-art interoperability solution, BTP is both trustless and decentralized. In addition, it is completely secured via cryptography, making it a viable solution in the modern blockchain market. After adding Algorand, the BTP network now holds multiple renowned ecosystems.and more
Live from Breakpoint 2021, Austin Federa (Solana Labs) moderates a discussion about the transfer layer and cross-chain bridges with Hendrik Hofstadt (Jump Crypto), Bryan Pellegrino (LayerZero), Alex Smirnow (deBridge) and Andriy Velykyy (Allbridge.io). 00:10 - Intro02:50 - The importance of bridges not relying on Trust04:28 - Moving wrapped assets12:00 - Capital Efficiency of Bridges14:02 - Future of bridges16:28 - Integration of bridges Austin (00:10):All right. Welcome guys. We're here to talk today about the transfer layer, scalability, cross chain bridging, the technical problems, the operational problem, the UX problems. This is just a panel of problems today, but it's also a panel on opportunities. We've seen a huge amount bridge over between other protocols in solana between other protocols and other protocols. We think of bridges as something new, but bridges are how DeFi has used Bitcoin as collateral for quite a long time at this point. It's kind of funny to think about how this started as we're taking an asset that's considered quite stable and solid that has no smart contract ability and being able to use that in Ethereum and that early day work really set the stage for, I think, a lot of what we're seeing today.Austin (00:55):But bridges go far beyond just this idea of how do I move something from chain A to chain B. There's roles in them as being decentralized ways to pass messages between different chains. There's a role for them in making users feel safe about trading across chains, and there's a role about them, about creating an exit ramp too. So that if you do something like buy an NFT for $69 million, you're not dependent on one chain to hold that. There's an ability migrate in a decentralized and trustless way. So we're getting into a bunch of that today. I'd say, let's just go ahead down the line and give a quick introduce to yourself and your project.Hendrik (01:31):Sure. I'm Hendrick. I'm with Jump Crypto and as Jump Crypto we're core contributors to Wormhole, which is a cross chain messaging protocol, connecting high value chains. And message passing in this sense means anything can flow between these high value chains, meaning assets and data. So your coins, NFTs, but also governance decisions and more information like as a base layer for developers to build on top of.Bryan (01:54):Bryan from LayerZero. Our focus is purely generic messaging interop. High level is connect every contract on every chain to every contract on every other chain.Alex (02:05):Hi everyone. My name is Alex Smirnoff and I'm co-founder of the deBridge Protocol, which is cross chain interoperability and liquidity transfer protocol. So the protocol itself allows to breach any arbitrary assets or data between any blockchains including solana of course, down the road.Andriy (02:23):Hi I'm Andriy from Allbridge, I'm a co-founder there. We currently support seven blockchains, and I hope that this number would increase to 12 by the end of the year. We started in July and since July, we bridged to solana one point half billion worth of assets.Austin (02:44):It's great to see. So I want to start out with just a level set question and Andriy, we'll start with you. Why is it important for a bridge to not rely on trust?Andriy (02:54):You see, when we speak about trusted bridges and trustless bridges, and that is the question, I suppose?Austin (03:00):Yes.Andriy (03:01):We have to consider that while we all here are building decentralized future, which should be completely trustless, in my personal opinion, sometimes we may sacrifice some layer of some level of decentralization to provide faster and better user experience. Because we are, in the end of the day, we are limited by the technology. And I have been thinking a lot about that because in the very end, we are building for our users and we want to create the product that would be used and used easily. And when we, in some cases, add too much of decentralization, that can affect user experience in a bad way. And this is something that we should consider as the owners of the business. So it is not so simple. I mean, as I said in the very beginning, I'm like a hundred percent over decentralization. I'm just saying, let's not forget about users. They going to use other product in the end of the day.Austin (04:08):Sure. So Bryan, when you're looking at something like this, is it possible... We talk about bridges, but these are more than just bridges. It's not like you're just, you take a bridge on a car, you're over the bridge, you're done, if the bridge falls down next week, you're still fine. You've gone over the bridge. But there's a different relationship here when we're moving wrapped assets. Can you talk a little bit about how users manage that and how you're thinking about that?Bryan (04:33):Yeah, I mean, I think that is the case when you do use wrapped assets, but I think wrapped assets are... You're always going to need wrapped assets for the primary chains. Because it's not like Ethereum can deploy a contract to mint Eth anywhere. But when you're talking about projects, Aave, Curve, like MIM, all these things, you're getting as projects move more and more to multiple chains, they're starting to deploy their token more and more on multiple chains and you have the ability to actually use native assets. So you can swap a real MIM for a real MIM rather than having four different bridges, which have four different versions of wrapped MIM coming in. And so I do think it's important to realize that over time the expectation should be that we do move away from wrapped assets. I don't think wrapped assets have to be the future for every project.Bryan (05:14):We've done it because we have something that's interesting on one chain and we want to create a synthetic on another chain, but these projects are starting to deploy wider and you will see much more of their own native. And especially when you have something, whether it's rebalancing or something like xSUSHI or [inaudible 00:05:32] any of these things. It's very important when you're getting a wrapped asset, you're getting like a Vanilla ERC20 equivalent where there is none of that and it creates a lot of issues. So I do think it's important to realize that move moving forward we will likely see or want to see native assets much more than wrapped assets.Austin (05:46):Yep.Alex (05:48):[crosstalk 00:05:48] I can adhere that wrapped assets is only kind of a gateway to get into the asset that user wants to get in because eventually cross chain interoperability will be all about the user experience. As a user, I don't want to know what is bridged at all. I just want to open my wallet like Fantom or MetaMask, I want to swap from one asset to another. And I don't care whether it went through wrapped asset or through some liquidity pools. I just want to receive the desired asset in the target chain. So I truly believe that eventually bridges will be kind of TCP/IP. What TCP/IP did for internet. So that's what true cross chain interoperability protocol will do for the internet of blockchain. So it's all about delivering of the user experience and yeah, the only point of interaction between user and DeFi will be the wallet or like decentralized applications, like 1inch or ParaSwap.Austin (06:42):Yeah. Yeah. No, I'm going to push you a little bit on that because every step in the wrapping process is a point of either failure or a point of trust. You could have Bitcoin that was originally wrapped onto Ethereum that's moved to Polygon, that's moved to solana, that's moved to Binance Smart Chain, that's moved back to solana. How do you simplify that chain of custody experience for a user? And how much should users actually care about that?Alex (07:08):I believe that users do not care about that. I mean the regular user. And as a wrapped asset, for example, what we do at deBridge, we have a wrapped asset in different blockchains, but if you bridge from the secondary chain to the secondary chain, so you basically burn the wrapped asset in one blockchain and you mint it in another. And of course there's kind of a additional risk of the consensus algorithm of the specific blockchain, but that the risk that user takes, because he know that he's going to bridge this asset to this blockchain and in case something will happen, like with the consensus algorithm in this specific blockchain, it's just the kind of collateral in this specific blockchain will be drawn. And that's the risk that user takes.Bryan (07:49):Yeah, I think the user doesn't care until something goes horribly wrong. And then the user cares a lot generally, but definitely.Austin (07:56):Do you think wrapped assets should trade a discount?Bryan (07:59):That's a good question.Alex (08:00):Of course not, I think.Bryan (08:03):I mean, there's some inherent risk depending on the wrapping mechanism. And I think likely over time, you could see that. I think demand right now, the value of a wrapped Bitcoin is... Well, all right. I don't want to trigger a lot of people, but you can generate yield on a wrapped Bitcoin that you can't generate in an actual Bitcoin. So there's actually maybe the argument that the wrapped asset should trade at a premium rather than a discount, but... [crosstalk 00:08:24].Austin (08:24):I love it.Bryan (08:24):I'll leave it there.Austin (08:25):I love it.Hendrik (08:26):I think the core assumption below that is really that notion of trust because that's essentially what the bridge establishes. The bridge establishes trust between chains that can't verify each other, or can't [inaudible 00:08:37] yet like verifying and proof of work chain, verifying different consensus mechanisms, all of these. In order to verify or establish trust between these chains, there's complex mechanisms that differ between any kind of chain. And I think that's what we all essentially bridge in the beginning at the very base layer. We establish trust between these chains and of all bridges I think the most important aspect should be establishing that trust and making sure that the bridge is going to be alive and the bridge is going to be secure.Hendrik (09:06):So the notion of [inaudible 00:09:09] and safety as the core properties of the bridges and then applications being built on top, but relying on this core aspect. And the risk that sits at this core protocol then trickles down into the applications built on top of the bridge, eventually wrapped assets. And that's where you could apply risk discount to wrapped assets. But that would hopefully be as small as possible if we all do our jobs right.Andriy (09:32):There is one more thing to that, like combining trust to the bridges and what we discussed before about the wrapped assets. So let's say we have an asset coming from Ether to Polygon. So it's being wrapped issued on Polygon. From Polygon we take this asset and rewrap it on solana. Then on solana, this asset, I'm speaking from experience, it's get on Saber our partners converted to the native asset on solana. So for user it is one seamless flow. It is good. It is all under the hood. But for us, it is sometimes scary because ultimately that means that bridges should trust each other. Because a point of failure before the assets come to my bridge can essentially affect my performance as well.Andriy (10:19):And it would not be my security problem. It would be problem of other bridge, but I will end up with the wrapped asset that is locked on my bridge, which due to the [inaudible 00:10:30] or something, it costs zero. So what should I do? And this is, again, the question, how can bridge trust each other? What should be the protocol? What can be the thing to unite us and resolve this issue?Alex (10:42):But that there is that liquidity providers actually [inaudible 00:10:46]. So it's not about like cooperation between bridges, but more like whether users are able to swap from like wrapped asset to any other asset within these specific ecosystem or like solana or Polygon, whatever. So, yeah, basically when liquidity providers provide liquidity in pair of like wrapped asset pair with a, for example, most liquid asset of these specific blockchain, they trust to bridge and they should kind of believe that bridge is truly the decentralized and trustless.Alex (11:12):So users do not bear so much risk, in fact. The risk is mostly on liquidity providers, but the question interoperability is not only about the swaps. First of all, it's all about the delivering of arbitrary messagings or arbitrary call data. Because what I personally would like to see is when protocols on Ethereum could be kind of composable with the protocols on Polygon. So let's say algorithmic stable coin on Ethereum opens up position on the Mango Markets to maintain its [inaudible 00:11:45]. And that would be awesome. And in order to accomplish that, we need to have truly decentralized channels to deliver messages between cross chains.Austin (11:54):Yeah. So Hendrik, you guys have been doing a little bit of work on that. I want to ask you two questions. The first is on the capital efficiency of bridges. And the second is on use cases for bridges that are not just assets.Hendrik (12:04):Yeah. I mean, right now, if we just look at the wrapped assets, I would say, of course they are in a sense capital efficient, but there could be more. Like there have been people talking about increasing capital efficiency by using the capital on the one side where it's locked into the bridging contract and then also using the wrapped asset on the other side. So essentially double yielding and double earning. I think that is something that is interesting, but I think that should live, obviously, above the base trust layer of the bridge. But this is something that is certainly interesting. But then when you're talking about should wrapped assets trade at a discount, you involve even more smart contract risk. You layer risk, risk, risk on top of each other. And they're the point of view X comes in that we've approached a couple times here.Hendrik (12:50):How does a user understand who they need to trust when I use this wrapped asset, when I use this bridge, when I use cross chain lending. And I think right now the user experiences do not really do that well. I think we've got a lot of work to do in educating users, giving them a reliable risk score, and then we can tap into these pools. But before, and especially as everything's moving so quickly, I'm kind of afraid in tapping into that. But as long as users are getting educated that this is happening, I mean, the bridges already allow that in a sense. Like for example, the Wormhole has message passing and you can add new layers on top, as we said, it's kind of like the TCP/IP layer. You can build a protocol that is more capital efficient on top of it and launch it today.Austin (13:37):Yeah. So let's talk for a second about that component of both moving things like NFTs and enabling protocols that are now moving cross chain. Something like Lido, which now exists in multiple chains, multiple layer ones. How is that communication being managed for something like that? And as a broad concept, not Lido specifically. And then what is the role of a bridge? Is that the right analogy to think of for something passing messages back and forth?Bryan (14:01):I also just want to chime in real quick and say that one of the things everybody right now is... Because you said you wanted to kind of touch on future. And I feel like everybody right now is focused on an individual coming like one user coming and wanting to bridge their assets from chain A to chain B. But my very firm belief is that in the future, 12 months from now, whatever, 95% of bridging is going to be driven by applications and not by users. Users will come and they'll use a Uniswap or they'll use whatever it may be that they're going cross chain and they'll be completely abstracted away from the bridging process. So it's not going to be driven by an individual user coming and saying, "Oh yeah, I'm doing this bridge. I'm accepting this risk, et cetera." It's going to be, how can you integrate that into an actual UI that's functional and makes sense. And the application is comfortable with whatever the trust assumptions are, if there are any, and yeah.Austin (14:48):Yep. So you see that layer moving from something that's more user facing, like a Venmo style experience, to something that's more like an interbank transfer.Bryan (14:56):I mean, I think the user, whether it's lending or whether it's swapping right now, I think the process is not going to be that you do some action in a protocol on chain A. You leave, you grab a bridge, maybe you have to jump through another chain and then another bridge and then like you go do something on the other thing. It's taken an hour, you've paid seven fees and switched wallets and got native gas. Like that just can't be the way that's going to happen. The user's going to sit in an application, do a transfer, and something is going to happen on the other chain. I think, everybody's sort of talking about that process of triggering arbitrary messaging on the other chain, but I think that has to live at that application layer, not at the individual user walking through this entire process piecemeal.Hendrik (15:34):I think that's a really good point because actually when you ask us about future, we also can only make assumptions. It's like, if you had asked me one and a half years ago, "Will I be trading Degenerate Apes and like getting yield on NFTs?" I would've said you, "Austin, are you crazy?" But now we're in this world and proof there's I think none of us can predict what exactly is going to happen. What we can do is design the bridges in such a way that we enable developers. And I think that's the key goal to build these experiences, to build new applications that can do all these things.Austin (16:07):Yeah. I love that. So talking about enabling developers. So if we go over to Andriy, you've been talking about, like on solana, you guys have bridged a ton of assets.Andriy (16:18):Yes.Austin (16:19):And that's not just going into direct people's wallets, oftentimes it's going into different dApps across solana. Talk about that developer work, how that integration works between the bridge and the application that the user's trying to use.Andriy (16:31):We were speaking the future. And that is exactly the future way of thinking about. It is like, we are calling this concept bridge as a service. Bridge, it is just the tool for users and for developers. So we would be more and more moving from the UI itself to some APIs and some connection with projects and developers. And this is how, for example, we built our whole strategy. We're not just the bridging assets. We bridge the asset and then on the destination chain, we partner up with Saber. We partner up with Orca. We create a flow because for users, the bridge, it is just like, it's a tall road and people they don't want to think about the road, they want to drive with their wife and kids from point A to point B. They don't care about the road.Andriy (17:16):And this is what happening here. And those bridges that would provide more flexible functionality. So for developers, it would be easier to build on top of them. Those are the ones that would succeed in future. And by future, I mean like six to 12 months from now. It is not distant future. It is not years. It is soon. This future is coming in soon. But in this sense, bridges is more like B2B business. Because I believe that other protocols and projects should be integrated with bridges, not user themselves. And we provide decentralized infrastructure, decentralized framework so that other protocols and projects can build on top of it.Andriy (17:55):And yeah. So for example, I think eventually like many projects and protocols, you'll want to kind of scale up and tap into user bases of other blockchain ecosystems like solana, for example, for project from Ethereum. And the main challenge here is to let actually protocols to build on top of this infrastructure. And in this case we don't need to have kind of censorship wide listing, et cetera. So we just need to provide kind of tooling so that any protocol can bridge their asset and any protocol can pass an arbitrary data cross chain that we will be executed in the target chain. We can actually let like protocols to decide on how they can do partnerships like with Orca or other dexes in other blockchains as well.Austin (18:40):So in a way we're talking about a composability layer for bridges.Andriy (18:44):Yeah.Austin (18:45):Interesting.Hendrik (18:46):And I mean to a certain degree, we're already there with applications building that on top. You already said Lido. Lido has staked. So they've staked Eth and then they get bridged to a protocol like [inaudible 00:18:57] and suddenly you have like a savings product. And that is what the user then consumes. This is the end user goal. I just want to put my money in and get interest or get some kind of yield and everything else is abstracted in the background. And I mean, this is one of the first steps and then we go further and further and further. We bring protocols truly like multi chain. Like if I hold COMP on solana, maybe I want to be able to participate in governance. I shouldn't lose that right on another chain and enabling this, but these are next steps. And I think to a certain degree we're already there.Bryan (19:29):Yeah, I think unified governance is something that's going to be a very hot topic over the next period. Almost certainly.Austin (19:35):Yes. Well, we'll have to do another one on cross chain governance protocol sometime later. Thank you all for joining us today.Hendrik (19:41):Thanks Austin.Andriy (19:41):Thank you.
"We're stepping more and more into an almost bigger focus in the building in crypto." On this episode of The Scoop, Kanav Kariya, President of Jump Crypto joined host Frank Chaparro for a rare interview to discuss Kariya's vision for its 100-person large digital assets division. Launched in the late 1990s, Jump is one of the most active trading firms across equities and crypto markets. Kariya spoke about his path from an internship in 2017 at Jump to becoming the president of the firm's crypto wing. "The way things work at Jump is you naturally assume positions and then you're kind of handed the role after," Kariya explained. In addition to market-making and trading, Kariya outlined how the firm is also interested in building new projects. “The possibilities for the space are just far greater than DeFi and financial stuff,” Kariya said. He went on to explain that a big part of the firm's strategy has been to participate in governance and build on different networks, highlighting projects like Pyth, Oasis and Wormhole. Jump Crypto also has a dedicated staff building on Solana. “A lot of that is in translating the engineering work that we've done on building trading systems and bridging that over the building, tooling and contributing to these open crypto repositories," said Kariya. In fact, he announced that Jump Crypto is focused on putting healthcare networks on-chain via the Oasis Network. Kariya also expressed optimism about non-fungible tokens or NFTs, saying that Jump Crypto is watching the evolution of NFTs as an asset class. “There's no reason that those resources as an asset class couldn't evolve to be like any other tokens or financial products,” Kariya commented. Episode 67 of Season 3 of The Scoop was recorded remotely with The Block's Frank Chaparro and Kanav Kariya, President at Jump Crypto. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Bakkt, Kraken and Exodus Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information About Kraken Whether you're an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface. Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control. Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you're ready to go.
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