Podcasts about jump trading

Today's blockchain and cryptocurrency news  Bitcoin is up slightly at $101,483 Eth is up half a percent at $3,206 XRP, down half a percent at $3.04 Ledger co-founder kidnapped, held, freed. Caroline Pham has selected Harry Jung to lead the agency's crypto engagement. Jump Trading sues former employee Frax community considers WLFI position Nasdaq's official X account hacked. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann sit down with Chris Cecere of crypto investment firm Asymmetric to make sense of the latest market volatility and the factors driving it.  From the impact of the yen carry trade and the Fed's controversial decisions on interest rates, to the potential signals coming out of Jackson Hole, the discussion cuts to the heart of what's moving the markets. The group also dives into the SEC's crackdown on Ripple, the ongoing drama surrounding wrapped bitcoin (WBTC) custody, and whether the Biden-Harris administration is genuinely considering a “crypto reset” or if it's just political posturing. Show highlights: 00:00 Intro 02:05 Whether the yen carry trade is to blame for the recent market sell-off and the concept of Value at Risk (VAR) 09:25 How Asymmetric handled the volatility of the sell-off using a strategy called “delta replacement” 14:17 Why the Volatility Index (VIX) spiked and whether it could do so again 22:21 Why Alex thinks that unemployment numbers started a panic and what the Sahm rule is 27:24 What might have triggered Jump Trading's sudden liquidation during a massive market sell-off, and whether more funds will face similar pressures 31:15 Why the market and major banks like J.P. Morgan agreed that the Fed missed the mark by not cutting rates in July 41:36 What key signals the Fed might send at Jackson Hole about the future of interest rates and the winding down of quantitative easing 45:40 How significant the timing of the first rate cut is in determining whether it will be bullish or bearish for the markets 53:45 What Ripple's lawsuit settlement and the SEC's subpoenas to VCs mean for the broader crypto industry 58:13 Whether Harris will actually do a “crypto reset” 1:03:04 The drama surrounding the custody of wrapped bitcoin (WBTC) Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Guest: Chris Cecere, GP and Head of global macro and trading at Asymmetric Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann sit down with Chris Cecere of crypto investment firm Asymmetric to make sense of the latest market volatility and the factors driving it.  From the impact of the yen carry trade and the Fed's controversial decisions on interest rates, to the potential signals coming out of Jackson Hole, the discussion cuts to the heart of what's moving the markets. The group also dives into the SEC's crackdown on Ripple, the ongoing drama surrounding wrapped bitcoin (WBTC) custody, and whether the Biden-Harris administration is genuinely considering a “crypto reset” or if it's just political posturing. Show highlights: 00:00 Intro 02:05 Whether the yen carry trade is to blame for the recent market sell-off and the concept of Value at Risk (VAR) 09:25 How Asymmetric handled the volatility of the sell-off using a strategy called “delta replacement” 14:17 Why the Volatility Index (VIX) spiked and whether it could do so again 22:21 Why Alex thinks that unemployment numbers started a panic and what the Sahm rule is 27:24 What might have triggered Jump Trading's sudden liquidation during a massive market sell-off, and whether more funds will face similar pressures 31:15 Why the market and major banks like J.P. Morgan agreed that the Fed missed the mark by not cutting rates in July 41:36 What key signals the Fed might send at Jackson Hole about the future of interest rates and the winding down of quantitative easing 45:40 How significant the timing of the first rate cut is in determining whether it will be bullish or bearish for the markets 53:45 What Ripple's lawsuit settlement and the SEC's subpoenas to VCs mean for the broader crypto industry 58:13 Whether Harris will actually do a “crypto reset” 1:03:04 The drama surrounding the custody of wrapped bitcoin (WBTC) Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Guest: Chris Cecere, GP and Head of global macro and trading at Asymmetric Learn more about your ad choices. Visit megaphone.fm/adchoices

Host Jennifer Sanasie breaks down the news in the crypto industry from Kamala Harris' running mate pick to Core Scientific's soaring shares.To get the show every day, follow the podcast here."CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as Vice President Kamala Harris has chosen Minnesota Governor Tim Walz, as her running mate for the upcoming election. Plus, Jump Trading allegedly moved $29 million in ether, and Core Scientific's shares surged on a new deal with CoreWeave.-This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to today's episode of "AI Lawyer Talking Tech," where we explore the latest innovations and developments shaping the legal technology landscape. In this episode, we'll dive into LexisNexis' strategic acquisition of Henchman and the enhanced features of Lexis+ AI that promise to revolutionize legal research and document drafting. We'll also discuss Zylpha's significant milestone in digital bundling, the complexities of AI-related performer rights, and recent legal rulings impacting AI service providers. Additionally, we'll cover the USPTO's new guidelines for AI patents, and the ABA's comprehensive resource on AI's legal implications. Stay tuned as we unpack these stories and more, highlighting the profound impact of AI on the future of the legal profession. LexisNexis Completes Acquisition of Henchman22 Jul 2024Legal Technology News - Legal IT Professionals | Everything legal technologyLexisNexis announces new capabilities for Lexis+ AI including RAG enhancements22 Jul 2024Legal IT InsiderZylpha Celebrates Monumental Milestone: 3000th Sign-Up to Bundling Platform22 Jul 2024Legal Technology News - Legal IT Professionals | Everything legal technologyLove-Hate of Feature Naming for Strict Product21 Jul 2024Legaltech on MediumJustia CLE & Webinars | AI: Legal Developments, Risks & Benefits19 Jul 2024Legal Marketing & Technology BlogAI and Law: A Symbiotic Partnership Shaping the Future19 Jul 2024Legaltech on MediumUSPTO Issues Patent Eligible Subject Matter Guidance for AI Inventions21 Jul 2024Jones DayFrom Scarlett Johansson to Tupac: AI is Sparking a Performer Rights Revolution20 Jul 2024BeneschLegal Update Jul 19, 2024 Mobley v. Workday: Court Holds AI Service Providers Could Be Directly Liable for Employment Discrimination Under “Agent” Theory20 Jul 2024Seyfarth ShawUK King's Speech 2024: Key takeaways on data protection, AI, and cyber security19 Jul 2024Hogan LovellsNavigating the FemTech regulatory landscape: best practice & future developments19 Jul 2024Berwin Leighton PaisnerGlobal IT Outage Hits Law Firms22 Jul 2024JDJournalABA releases comprehensive book outlining analyses, strategies to deal with artificial intelligence22 Jul 2024LegalNews.comSerum price tumbles as Jump Trading takes FTX Estate to court over SRM token loan22 Jul 2024CryptoNews.netOpenAI dropped from AI copyright lawsuit22 Jul 2024ITPro.comClient portals for law firms: 5 tools to make your work (and life) easier22 Jul 2024Content SnareThe Future of Privacy in the Age of AI21 Jul 2024TechPolicy.pressDrive Innovation in Legal Technology: Apply Now for Lawtech Builder Accelerator Programme20 Jul 2024West Wales ChroniclePricing AI-driven legal services: No, it won't kill law firm profits20 Jul 2024Thomson ReutersAdam Ludwin, Sameer Somal, and Aashna Duggal Presented ‘AI in Legal Research' CLE for New York State Bar Association (NYSBA)20 Jul 2024PRUndergroundKey legal trends for 202419 Jul 2024Business MoneyLegal Toolkit Legal Tech Genius & Real Housewives of Miami Star Reveals the Secrets to Successful Relationships (Business Professional Ones, That Is)19 Jul 2024Legal Talk NetworkCost-Savings Strategies for Outside Counsel Management19 Jul 2024JD SupraNavigating compliance in 202419 Jul 2024Keoghs LLPLegal Lowdown: DGS, Womble Bond Dickinson Add Attorneys, CHBA Announces Award Winners19 Jul 2024Law Week Colorado

Illinois abortion providers report seeing an influx of patients since the Dobbs v. Jackson decision two years ago, effectively kick-starting the transformation of abortion law across the country. Crain's health care reporter Katherine Davis discusses with host Amy Guth. Plus: Vote on Sterling Bay project at heart of aldermanic prerogative fight delayed, Thoma Bravo is exploring a sale of Canadian auto marketplace Trader, Jump Trading's crypto chief is stepping down and Northwestern breaks ground on new stadium after rocky path to approval.

High Frequency Trading in finance demands the utmost quality and speed from a network, making flawless observability a must. Our guest today is Radu Ionco from Jump Trading, and he tells us about how they built their own custom network observability platform, even creating a monitoring system for the monitoring system. We talk through streaming... Read more »

High Frequency Trading in finance demands the utmost quality and speed from a network, making flawless observability a must. Our guest today is Radu Ionco from Jump Trading, and he tells us about how they built their own custom network observability platform, even creating a monitoring system for the monitoring system. We talk through streaming... Read more »

High Frequency Trading in finance demands the utmost quality and speed from a network, making flawless observability a must. Our guest today is Radu Ionco from Jump Trading, and he tells us about how they built their own custom network observability platform, even creating a monitoring system for the monitoring system. We talk through streaming... Read more »

Dan Reecer, COO of the Wormhole Foundation, explains that open-source code and decentralization are essential for transparency and trust in the blockchain industry.Follow the show here for more.This installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk interview Dan Reecer, the COO of Wormhole Foundation. Wormhole is a messaging layer protocol that connects different blockchains, allowing for the transfer of assets and data. They discuss the Wormhole Interoperability Project and its recent token airdrop. Reecer, emphasizes the importance of open-source code and decentralization in the blockchain industry. Takeaways | Wormhole is a messaging layer protocol that connects different blockchains, enabling the transfer of assets and data.Wormhole recently conducted a token airdrop, rewarding token holders and aligning with power users who have contributed to the network.Controversies surrounding airdrops highlight the importance of transparency, fairness, and thoughtful allocation of tokens.The future of blockchain interoperability will likely involve collaboration between different protocols, with two to three winners emerging in the long term.Chapters | 00:00 Introduction and Overview02:10 The Wormhole Token and Governance04:22 Multi-Gov and DAO Voting07:22 Governance Interoperability and Bridge Protocols11:39 Addressing Bridge Flaws with Technologies like Storage Proofs19:55 Building Connections Between Blockchains24:12 Competition and Multiple Interoperability Solutions26:01 Comparing Wormhole to Layer Zero30:30 Influence of Jump Trading and Transparency34:55 Lessons from Recent Airdrops39:13 Conclusion and Wrap-UpSign Up for THE PROTOCOL NEWSLETTER EPISODE LINKS | Wormhole-The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode, Conor and Bryce chat with Phineas Porter about the functions delta, prior and more over dinner.Link to Episode 176 on WebsiteDiscuss this episode, leave a comment, or ask a question (on GitHub)TwitterADSP: The PodcastConor HoekstraBryce Adelstein LelbachAbout the Guest:Phineas Porter is a Software Developer at Jump Trading. Previously, he held roles in quant research and technology at UBS and Citibank. He graduated from Columbia University in 2014 with a degree in Operations Research. He lives in New York City with his wife, daughter (Ada) and son (Solomon).Show NotesDate Recorded: 2024-03-06Date Released: 2024-04-05Franchia Vegan Cafethurst::reduce_by_keythrust::inclusive_scanthurst::inclusive_scan_by_keyKXCON23 | Nick Psaris | Matching Algorithms in q and kdbKXCON23 | Phineas Porter | Dynamic Programming Approach to Content Aware Image Resizing | kdb at Jump Tradingthrust::reduceADSP Episode 131: One Algorithm To Rule Them All!Q priorC++23 std::views::adjacent_transformC++98 std::adjacent_differenceC++98 std::partial_sumC++17 std::variantQ deltasC++23 std::views::zipNumPy diffsArrayCast Episode 76: Conor McCarthy, PyKX and kdb+ 4.1ADSP Episode 147:

Hello, everybody. Brian here from swanlabs.net. On March 25th, an insightful article was shared with me via my usual source. The piece originated from eFinancialCareers.com and reveled in the surprising new hiring trend within high-frequency trading firms: recruiting video game CEOs and former UBS directors. Usually, these wouldn't be the people you'd expect leading the charge in high-frequency trading, but from an executive standpoint, it can make a lot of sense. It's interesting to note that pathways into a hedge fund or high-frequency trading are not always straightforward. An individual to highlight in this unique hiring trend is Heath Newton, who joined Susquana as a software engineer. Having spent nine years at Bloomberg and thirteen years as the CEO of independent game studio INOVAE, Heath offers an unconventional background to this financial niche. Another mover in this space is Domenico Mangieri, who's pathway into Jump Trading was a little more traditional - starting in finance with an AI firm Altair before joining UBS and Morgan Stanley. I found this development quite fascinating - these unusual hiring patterns opens up more interesting ways to enter the high-frequency trading industry. So, stay tuned, and don't forget to pay attention to my links for Discord, Substack, and the books I have on offer. Have a good day!   Join our Discord for quant trading and programming news https://discord.gg/k29hRUXdk2 Get our free trading tech books here books2 – QUANTLABS.NET Know what I trade on my Substack Quantlabs Substack | Substack   efinancialcareers.com/news/high-frequency-trading-engineer-video-games-ubs

This week, the Lads are joined by the co-founder of Vertex Protocol, Alwin Peng. We get Alwin's backstory of becoming the youngest ever hire at Jump Trading, and the ups & downs of managing Vertex. We do a deep dive into the Messari Derivatives Report, and finish strong with some delicious Pasta of the Week! In this episode we cover: 00:00 Intros & Alwin's Backstory 08:09 Messari Derivatives Report 28:58 Persevering After A Pivot From Terra 33:41 What Brings You To A Platform? 42:30 Pasta of the Week

Michael Cahill is the CEO of Douro Labs, where he oversees the development and acceleration of the Pyth Network — an oracle network for real-time financial market data delivery to smart contract applications. In this episode, Cahill unpacks the unique advantages of Pyth Network over other oracle providers and explains what obstacles currently stand in the way of replicating the centralized trading experience on-chain. According to Cahill, DeFi is "very close to feature parity with some of the backend elements of derivatives trading on centralized exchanges — what we haven't yet cracked is the user experience." Pyth Network was incubated by Jump Trading before going live on Solana mainnet back in August of 2021.

We chat with Keone, Co-Founder & CEO of Monad.xyz, about his background in building high-performance systems for Jump Trading's high-frequency trading and crypto divisions. We unpack how Keone is leveraging his expertise to scale the EVM. Traditionally, most approaches to scaling blockchains, such as Solana, Sui, Aptos, Sei, etc, choose to eschew the EVM in favor of maximizing performance. Keone believes that maintaining compatibility with existing EVM tooling and infra is key to long-term success. We talk about his vision for scaling the EVM to 10k TPS, the challenges of launching an L1 ecosystem, what consumer adoption looks like, and a litany of design considerations throughout this discussion. (0:52) - Monad's vision (3:54) - Why not build out an L2? (9:56) - Parallelizing the EVM (17:19) - Hardware requirements (22:02) - Future of DEX trading (32:32) - Exciting areas of crypto (36:29) - Responding to criticism (40:13) - Where does Monad fit within Ethereum (42:21) - Horizontal scaling future for Monad (44:37) - Integration with Solana (45:44) - Benefits of single slot finality (49:00) - Go-To-Market strategy (52:36) - Privacy on blockchains -    - Podcast Resources Follow Sal: https://twitter.com/sal_coin Follow Dave: https://twitter.com/SolBeachBum Follow Unlayered: https://twitter.com/UnlayeredPod Subscribe on Apple: http://apple.co/3VyBSWI Subscribe on Spotify: http://spoti.fi/42q03J2 Subscribe on Google: https://tinyurl.com/5dwn2476 -    - Episode Resources Follow Keone: https://twitter.com/KeoneHD Follow Monad: https://twitter.com/Monad_xyz Galaxy Website: https://Monad.xyz

Keone Hon is the Co-Founder and CEO of Monad, an EVM-compatible L1 that can process 10k TPS. Keone explains why he decided to move on from Jump Trading and start a new venture with Monad, focusing on building an ultra-high-performance EVM blockchain that improves upon Ethereum's throughput. He highlights the need for pipelining in transaction execution and state access to achieve higher performance. Why you should listen Keone discusses the need for pipelining in the Ethereum virtual machine to improve efficiency and scalability. Monad is focused on building execution systems that can handle a high number of transactions per second. The team also aims to support developers through grants and create better user experiences in open finance. Keone acknowledges that Ethereum's roadmap has changed over time and emphasizes the importance of adapting based on market feedback. He believes that delivering a better user experience is crucial for widespread adoption of decentralized finance. Monad has received backing from Dragonfly Capital and Placeholder, and they are currently working on their DevNet, testnets, and documentation. Supporting links Coinsbee Monad Andy on Twitter  Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.  

Keone Hon is the CEO and Co-founder of Monad Labs, the team supporting the high-performance Monad blockchain. He is a software developer and blockchain researcher.  Before founding Monad, he spent eight years at Jump Trading, leading an HFT team.  In 2021, Keone joined Jump's crypto division and led a team of engineers focused on blockchain research and dApp development.In this conversation, we discuss:- JUMP Trading- High frequency trading- The relationship between HFT and crypto trading- Security on the Monad blockchain- L1 pros and cons vs. the pros and cons of L2s- The narrative always changes- Roll-ups- Scaling blockchain tech at the L1 level- Creating better blockchain-based mobile appsMonad LabsWebsite: www.monad.xyzTwitter: @monad_xyzDiscord: discord.gg/monadKeone HonTwitter: @keoneHDLinkedIn: Keone Hon   ---------------------------------------------------------------------------------  This episode is brought to you by PrimeXBT.  PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance. Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers.  PrimeXBT is running an exclusive promotion for listeners of the podcast. After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions.  Code: CRYPTONEWS50  This promotion is available for a month after activation. Click the link below:  PrimeXBT x CRYPTONEWS50 

In this episode, Austin talks with Kevin Bowers, Chief Science Officer at Jump Trading. Kevin and his team are the brains behind Firedancer, Solana's second independent validator client. As Kevin describes the process of building Firedancer, it's clear that this episode is not only about building a validator client; it's about Kevins unique perspective on the 1% of computer science focused on making things as fast and efficient as possible. Throughout his interdisciplinary career, Kevin has again and again proven to be an iconoclastic thinker, unabashedly dissatisfied with the status quo. He expresses his unconventional views on programming languages, scaling solutions, data flow optimization, and more.  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.  

⛓ Bist du an DeFi oder NFTs interessiert? Jetzt Kurse buchenbluealpineresearch.com/kurse 

What's up everyone! Welcome to Solana Weekly Episode 23. This is Thomas Bahamas and I want to thank you all for joining in on the fun. This has turned into one of my favorite parts of the week and I can't wait to dive into what's been going on in Solana. We're still attempting a space on Twitter and we'll see how it goes. I've been consuming a ton of Solana content and want to start with expressing that this is a user experience based Solana podcast where I talk about my journey and views. I can't keep up with everything in a week, I'm not on the Solana team or any team working in the space, I'm just out here having fun on the fun chain and chatting about it. But it really does seem like all the part are setting up for a killer Solana Summer. The Mad Lads kicked off a mint and the whole space has been electric ever since. I'm liking where this is heading and let's jump into it.Some AI of the monkey's celebrating for you: * Solana Price Update: Sitting at $21.37, down a total of 9% on the week. This chart doesn't look the best, and earlier today we looked like we were about to send until we dropped from 23 to 21. That's about a 10% drop and it happened immediately. Hsaka Trades tweeted out that there was an alert for a US gov wallet moving funds and Jump Trading dumped everything immediately. The kicker is that it was a false alarm. So we're heading back Is this true? I don't really know, but it would line up. They seem to be the biggest player still in Solana from what I know and they can move markets. Hate to see it and hoping for a recovery. As I said in the intro, the vibes for Solana have been crazy all week and I'm waiting for price to catch up. * Solana vs. Ethereum: Down to .01145 with a 2.8% decrease on the week. Small decrease, whole market looked pretty dumpy until this morning really. I sold some Eth for Sol because I just see such a disparity right now in the market. Eth transactions are $50 and Solana transactions aren't even a penny. Hard to justify paying that anymore. * Solana vs. Bitcoin: Sitting at .0007501 which is an decrease of 5%. I'm still super bullish on this chart even though we keep going down lol. I'm seeing more alignment and calls for BTC and WBTC on Solana, and a marketplace for trading wrapped ordinals on Solana. I'm 100% in on this and think that Solana would make a killer L2 for BTC. * Mad Lads mint - a beautiful disaster. They minted in their Backpack wallet and overall it was a sick experience. That was super delayed due to ddos attacks. But to the wallet - solana hummed on at normal speeds and handled it perfectly. Mint was unique because it was in the wallet, you minted a rug and went to the xnft to find your actual lad. So much to say about this, but it was effectively a mass advertisement for backpack and it worked. Love backpack now, the art for mad lads slaps as well and has been performing like crazy. Up over 10x from mint and doesn't look like it's slowing down. I actually swapped my pfp to a mad lad and went to Twitter jail for a week while my profile is under review. This is funny because I actually swapped that nft for another sicker one, so I'm currently pulling a milady tactic where I don't own my pfp. * Tensor - absolutely crushing it. They are doing no fees for the lads and have officially flipped magic Eden. It's insane. Their product is so freaking good though. Everything about their platform is superior to magic Eden and they deserve this. The volume is also insane, mad lads was the most traded nft project of ALL NFT's, yes that includes eth NFT's too. It's big and it's the example of a great product at the right time. Magic Eden seems to be clapping back by hiring another intern that shitposts, I like it and missed the war bucks s**t posting.  But they haven't been focusing on Sol and can't keep up at this point. * Solana phone! I got mine yesterday and unboxed it super hard. It's sick. I hate android and have to relearn everything, but it's worth it for this phone. It's a punk rock feel of a phone where it just seems like a lot of love and tinkering went into it. Drawbacks : it's long skinny and heavy, but i just need to get used to it and turn off all these damn notifications. * The fun chain thesis: Solana is the fun chain because of everything you can do on it right now. It's built for users, you can do a bunch of cool s**t on chain, and they are building out a ton of cool new things and use cases. Historically blockchains have been primarily built for contrarians and doomers in Bitcoin, and an extremely complicated and intertwining web of complex ideas going no where in Ethereum. Don't believe me? Listen to a Bitcoin space and you'll hear how modern finance is doomed. Listen to an episode of Bankless and you'll hear about ultrasound money that costs $50 for a transaction, but burns some of the supply and causes the supply to be deflationary, making it a big bonus. Solana is simple, it's one layer, that can process transactions simultaneously across the world incredibly fast and cheap. I want to hate on Bitcoin for being boomers and doomers, but in reality they have established themselves on a global level. They've fought the fight and earned a spot at the table. I don't really know where Solana will fit in if you look at it through that lens. Maybe it doesn't have to, but I am really liking the idea of Solana hosting more Bitcoin on chain, and having something like a wrapped Ordinals market for trading assets that are on Bitcoin. There's something there, I'm starting to step away from the daily spaces and all the mints and try to look at the bigger picture. I'm just getting more and more convinced that a blockchain that works and scales as it can will keep on crushing and bring us that Solana Summer! Thanks all and I'll catch you next week. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thomasbahamas.substack.com

A daily update on what's happening in the Rocket Pool community on Discord, Twitter, Reddit, and the DAO forum. Today's episode covers: a Rocket Pool user gets slashed, smartnode issues with the latest Besu, and more oDAO talk! 0:00 - Welcome 0:20 - Rocket Pool user gets slashed https://discord.com/channels/405159462932971535/468923220607762485/1077687093083504780 https://beaconcha.in/validator/275274 https://beaconcha.in/validator/269454 https://discord.com/channels/405159462932971535/468923220607762485/1077692949887975554 https://discord.com/channels/405159462932971535/468923220607762485/1077697651677614230 https://github.com/rocket-pool/smartnode/issues/316 https://discord.com/channels/405159462932971535/468923220607762485/1077747509100806265 https://discord.com/channels/405159462932971535/1070004025610739883/1077796748132614215 7:20 - Besu 23.1.0 crashes on the Smartnode stack https://discord.com/channels/405159462932971535/704214707904446535/1077238098854944819 8:49 - Community call https://twitter.com/nextblock_eth/status/1628093175129866241 12:48 - Joe with info on Smartnode updates https://discord.com/channels/405159462932971535/405163713063288832/1077788749884305489 https://discord.com/channels/405159462932971535/405163713063288832/1077824818075947041 15:55 - Sassal and David Hoffman talk about the oDAO https://discord.com/channels/405159462932971535/405163713063288832/1077756866974732398 https://discord.com/channels/405159462932971535/405163713063288832/1077766098390356018 https://discord.com/channels/405159462932971535/405163713063288832/1077771770146336778 21:30 - Jump Trading buying A LOT of rETH https://twitter.com/lookonchain/status/1628040134410256386 23:20 - Eigenlayer info https://youtu.be/PtnKycLxNTE?t=625 https://twitter.com/marceaueth/status/1628397250958221315 27:59 - Phiz asks us to turn off censoring relays https://discord.com/channels/405159462932971535/405163713063288832/1077973442365763644 https://discord.com/channels/405159462932971535/405163713063288832/1077977152764518481 32:58 - Rocket finishes his Alexa integration https://discord.com/channels/405159462932971535/405163713063288832/1077968643285074000 35:32 - 80% of old RPL has been converted to new https://discord.com/channels/405159462932971535/405163713063288832/1077609822117175368 https://discord.com/channels/405159462932971535/894377118828486666/1077609532575989821 https://discord.com/channels/405159462932971535/405163713063288832/1077610891702444183 37:30 - Beaconcha.in getting withdrawn stats https://discord.com/channels/405159462932971535/405163713063288832/1077678462929748089 38:02 - RPL being added to Atomic Wallet https://discord.com/channels/405159462932971535/468923220607762485/1077607848667775076 39:33 - Use Metrika to get node stats for free https://discord.com/channels/405159462932971535/405163713063288832/1077670879632310352

In this episode, Pat takes us through his long and winding career as a quant and systems architect. From almost 20 years at the Livermore research lab to reinventing himself and joining DE Shaw in 2006, we learn about how being curious and having a unique skillset can earn you outsized pay packages. Find out why he was heavily recruited to Jump Trading, why his jump to Citadel was a mistake and how everything panned out now that he is retired.

In this episode, Conor and Bryce talk to Barry Revzin about Rust, Val, Carbon, ChatGPT, error propagation in C++26 and more!Link to Episode 114 on WebsiteTwitterADSP: The PodcastConor HoekstraBryce Adelstein LelbachAbout the GuestBarry Revzin is a senior C++ developer at Jump Trading in Chicago. After programming for many years, he got really into the nuances and intricacies of C++ by being unreasonably active on StackOverflow (where he is the top contributor in C++14, C++17, and C++20). He is also a C++ committee member, having written dozens of papers for C++20 and C++23.Show NotesDate Recorded: 2023-01-15Date Released: 2023-01-27ADSP Episode 113: The C++26 Pipeline Operator with Barry Revzin!P2011 A pipeline-rewrite operatorP2672 Exploring the Design Space for a Pipeline OperatorRust Programming LanguageRust TraitsSwift ProtocolsRust std::iter::IteratorRust The Cargo BookVal Programming LanguageCarbon Programming LanguageCarbon Operator PrecendenceEpochs: a backward-compatible language evolution mechanismADSP Episode 97: C++ vs Carbon vs Circle vs CppFront with Sean BaxterCircle CompilerChatGPT: Optimizing Language Models for DialogueGPTDuckOxide and Friends PodcastBryan Cantrill on TwitterBryan Cantrill: The Summer of RUSTOn The Metal PodcastOxide and Friends: NeXT, Objective-C, and contrasting historiesElixir DocsRust DocsP2561 An error propagation operatorSy Brand's tl::expectedP0798R4 - Monadic operations for std::optionalC++23 std::expectedChicago C++ Meetup: Defining Range Formatting

In this episode, Conor and Bryce talk to Barry Revzin about the pipeline operator |>, C++ Ranges and more!Link to Episode 113 on WebsiteTwitterADSP: The PodcastConor HoekstraBryce Adelstein LelbachAbout the GuestBarry Revzin is a senior C++ developer at Jump Trading in Chicago, a research and technology driven trading firm. After programming for many years, he got really into the nuances and intricacies of C++ by being unreasonably active on StackOverflow (where he is the top contributor in C++14, C++17, and C++20). A lot of his C++ knowledge comes from just answering questions that he doesn't know the answers to, especially when he answers them incorrectly at first.His C++ involvement escalated when he started attending standards committee meetings in 2016, having written dozens of papers for C++20 and now C++23. You might know him from such features as , pack expansion in lambda init-capture, explicit(bool), conditionally trivial special member functions and, recently approved for C++23, deducing this.Outside of the C++ world, Barry is an obsessive swimming fan. He writes fun data articles for SwimSwam and also does analysis for the DC Trident, a professional swim team featuring Olympic Gold Medalists Zach Apple and Anna Hopkin, managed by two-time Olympian Kaitlin Sandeno.Show NotesDate Recorded: 2023-01-15Date Released: 2023-01-20Iterators and Ranges: Comparing C++ to D to Rust - Barry Revzin - [CppNow 2021]Keynote: Iterators and Ranges: Comparing C++ to D, Rust, and Others - Barry Revzin - CPPP 2021Kona Photo of Barry and Michael SwimmingCppCast Episode 237: Packs and PipelinesP2011 A pipeline-rewrite operatorP2672 Exploring the Design Space for a Pipeline OperatorC++20/23 Ranges LibaryRanges-v3 LibraryBoost.Lambda LibraryBoost.Lambda2 LibraryTC39 Pipe Operator (|>) for JavaScriptIntro Song InfoMiss You by Sarah Jansen https://soundcloud.com/sarahjansenmusicCreative Commons — Attribution 3.0 Unported — CC BY 3.0Free Download / Stream: http://bit.ly/l-miss-youMusic promoted by Audio Library https://youtu.be/iYYxnasvfx8

Crain's residential real estate reporter Dennis Rodkin talks with host Amy Guth about local housing news, including how Chicago house flipping hit a new high in the first half of 2022, a repurposed schoolhouse in Humboldt Park for sale, and the home of the "Lord of the Dance" Michael Flatley's family on the market. Plus: Senators push Kroger-Albertsons CEOs on concerns over $25 billion merger, a Northwestern tech spinoff wins a Department of Defense contract, Jump Trading and DRW join group investing in Cboe's crypto unit, and Thanksgiving air travel falls short of 2019.

Show Notes(01:49) Cody shared his upbringing in New Jersey, his childhood interest in science and technology, and the few people who have made big differences in his story.(09:35) Cody went over his academic experience studying Electrical Engineering and Computer Science at MIT.(17:51) Cody recalled his favorite classes taken at MIT.(22:43) Cody talked about his engagement in serving as the president of MIT's chapter of Eta Kappa Nu Honor Society and advancing online education at the MIT Office of Digital Learning.(31:25) Cody is bullish on the future of digital learning.(35:43) Cody expanded on his internships with Google throughout his time at MIT — doing local search quality and YouTube analytics.(42:31) Cody described the challenges of dealing with high-frequency trading data from his one year working as a junior data scientist at the Vendor Data Group of Jump Trading in Chicago.(46:50) Cody reflected on his decision to embark on a Ph.D. journey in Computer Science at Stanford University.(51:54) Cody mentioned his participation in the DAWN project, specifically DAWNBench, an end-to-end deep learning benchmark and competition.(54:21) Cody unpacked the evolution of MLPerf, an industry-standard benchmark for the training and inference performance of ML models.(56:52) Cody walked through the motivation and empirical work in his paper “Selection via Proxy: Efficient Data Selection for Deep Learning.”(59:34) Cody discussed his paper “Similarity Search for Efficient Active Learning and Search of Rare Concepts.”(01:06:32) Cody shared his learnings about bringing ML from research to industry from his advisors, Matei Zaharia and Peter Bailis — who were both academics and startup founders simultaneously.(01:09:19) Cody went over key trends in the emerging Data-Centric AI community — given his involvement with the Data-Centric AI workshop at NeurIPS 2021 and the DataPerf benchmark suite.(01:12:19) Cody shared lessons learned about finding product-market fit as the founder of Coactive AI — which brings unstructured data into the world of SQL and the big data tools that teams already love.(01:15:34) Cody emphasized the importance of focusing on the HR function and defining cultural guiding principles for any early-stage startup founder.(01:21:05) Cody provided his perspective on the differences and similarities between being a researcher and a founder.(01:23:47) Closing segment.Cody's Contact InfoWebsiteTwitterLinkedInGoogle ScholarCoactive AI's ResourcesWebsiteTwitterLinkedInCulture ValuesMentioned ContentTalk“Digging Deeper: How a Few Extra Moments Can Change Lives” (TEDxStanford 2017)“Data Selection for Data-Centric AI” (Stanford MLSys 2022)Research“Probabilistic Use Cases: Discovering Behavioral Patterns for Predicting Certification” (2015)DAWNBench: An End-to-End Deep Learning Benchmark and Competition (Dec 2017)“MLPerf: An Industry Standard Benchmark Suite for Machine Learning Performance” (Feb 2020)“Selection via Proxy: Efficient Data Selection for Deep Learning” (Oct 2020)“Similarity Search for Efficient Active Learning and Search of Rare Concepts” (July 2021)DataPerf, a new benchmark suite for machine learning datasets and data-centric algorithms (Dec 2021)PeopleMatei Zaharia (Cody's Ph.D. Advisor, Co-Creator of Apache Spark, Co-Founder of Databricks)Fei-Fei Li (Professor of Computer Science at Stanford, Creator of ImageNet Dataset)Michael Bernstein (Professor of Computer Science at Stanford with a focus on Human-Computer Interaction)Books“No Rule Rules: Netflix and the Culture of Reinvention” (by Reed Hastings)“What You Do Is Who You Are: How to Create Your Work Business Culture” (by Ben Horowitz)“The Inner Game of Tennis: The Classical Guide to Peak Performance” (by Timothy Gallwey)NotesMy conversation with Cody was recorded back in January 2022. Since then, many things have happened at Coactive AI. I'd recommend:Attending Cody's upcoming talk at Snorkel's The Future of Data-Centric AI.Reviewing the DataPerf workshop at ICML 2022.Reading the CoactiveAI blog post on bringing UI props to MLOps.Watching Cody's CBS News interview back in February 2022.About the showDatacast features long-form, in-depth conversations with practitioners and researchers in the data community to walk through their professional journeys and unpack the lessons learned along the way. I invite guests coming from a wide range of career paths — from scientists and analysts to founders and investors — to analyze the case for using data in the real world and extract their mental models (“the WHY and the HOW”) behind their pursuits. Hopefully, these conversations can serve as valuable tools for early-stage data professionals as they navigate their own careers in the exciting data universe.Datacast is produced and edited by James Le. Get in touch with feedback or guest suggestions by emailing khanhle.1013@gmail.com.Subscribe by searching for Datacast wherever you get podcasts or click one of the links below:Listen on SpotifyListen on Apple PodcastsListen on Google PodcastsIf you're new, see the podcast homepage for the most recent episodes to listen to, or browse the full guest list.

Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. On this episode, Kevin Zhou, the CEO of Galois Capital and long-time critic of UST, also joined the conversation. Show topics: the UST depeg and Terra collapse  Kevinon  what it was like being one of the earliest naysayers of LUNA why Kevin believes that UST initially depegged and became a “fear cascade” how Galois Capital traded the UST depeg, from shorting LUNA to keeping their UST in Anchor until the last moment why Kevin was disappointed in the lack of transparency in how Luna Foundation Guard attempted to defend the UST peg the implications of UST's collapse across the crypto and traditional financial markets  whether Terra's decline will lead to more regulation in the crypto industry why Anchor was the “cancer” of the Terra system  why VCs are reticent to say something bad about protocols they don't believe in why grifting is so much more prevalent in crypto  what Jump Trading had to do with the Terra collapse the difference between the way trading and VC firms interact with crypto the issues with the Terra 2 proposal without UST which chains are receiving the people leaving the Terra ecosystem  why Haseeb compared the collapse of UST to the collapse of the Soviet Union who Kevin believes should be reimbursed in the aftermath of the UST collapse how political considerations might affect how Terra continues to develop going forward why Terra NFTs were skyrocketing during the Terra meltdown whether crypto is in a bear or bull market Hosts   Haseeb Qureshi, managing partner at Dragonfly Capital https://twitter.com/hosseeb Tom Schmidt, general partner at Dragonfly Capital https://twitter.com/tomhschmidt Tarun Chitra, managing partner at Robot Ventures https://twitter.com/tarunchitra  Robert Leshner, founder of Compound  https://twitter.com/rleshner    Guest Kevin Zhou, CEO of Galois Capital https://www.linkedin.com/in/kevin-zhou-82938324/    Previous Unchained Coverage   Nic Carter, Erik Voorhees, and Eric Wall on the collapse of UST https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/  Do Kwon on backing UST with BTC ​​https://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/ Kevin Zhou on the risk of UST's death spiral https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/  Jon Wu on how Terra got depegged: https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/ Do Kwon on The Chopping Block https://www.youtube.com/watch?v=0xl8u7-KVwM    Haseeb's summary of the Terra collapse: https://medium.com/dragonfly-research/the-reign-of-terra-the-rise-and-fall-of-ust-208dabbc8e6e   Jon Wu's write-up on the UST Depeg Article: https://www.notboring.co/p/terra-to-the-moon-and-back  Thread: https://twitter.com/jonwu_/status/1523793482850050048?s=20&t=lvB1zdz98wu5TE5emh4fCw    Terra Background Info  Twitter: https://twitter.com/terra_money  UST Mechanics: https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c UST Bank Run: https://www.wsj.com/articles/crash-of-terrausd-shakes-crypto-there-was-a-run-on-the-bank-11652371839 Speculation of a deliberate attack: https://onchainwizard.substack.com/p/how-to-make-800m-in-crypto-soros?s=r Do Kwon's Proposed Terra's Revival: https://www.coindesk.com/tech/2022/05/13/do-kwon-proposes-restart-of-terra-blockchain-as-ust-luna-plummet/ Anchor: https://twitter.com/anchor_protocol  Terra 2.0: https://unchainedpodcast.com/do-kwon-has-a-new-plan-again/    LFG Purchases Luna Foundation Guard: https://lfg.org/team/ Pomp – the $10B Bitcoin Bet on Stablecoins https://pomp.substack.com/p/the-10-billion-bitcoin-bet-on-stablecoins?s=w 3/10 BTC purchase https://twitter.com/LFG_org/status/1503680315969060864  $1 BTC billion purchase https://twitter.com/terra_money/status/1496162889085902856  TFL x LFG relationship https://twitter.com/stablekwon/status/1502225674840555523    Galois Twitter threads https://twitter.com/Galois_Capital/status/1511455703642394628  https://twitter.com/Galois_Capital/status/151119893095193804   Tarun's thoughts on algorithmic stablecoins https://twitter.com/Unchained_pod/status/1512465290910736391 

Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. On this episode, Kevin Zhou, the CEO of Galois Capital and long-time critic of UST, also joined the conversation. Show topics: the UST depeg and Terra collapse  Kevin on what it was like being one of the earliest naysayers of LUNA why Kevin believes that UST initially depegged and became a “fear cascade” how Galois Capital traded the UST depeg, from shorting LUNA to keeping their UST in Anchor until the last moment why Kevin was disappointed in the lack of transparency in how Luna Foundation Guard attempted to defend the UST peg the implications of UST's collapse across the crypto and traditional financial markets  whether Terra's decline will lead to more regulation in the crypto industry why Anchor was the “cancer” of the Terra system  why VCs are reticent to say something bad about protocols they don't believe in why grifting is so much more prevalent in crypto  what Jump Trading had to do with the Terra collapse the difference between the way trading and VC firms interact with crypto the issues with the Terra 2 proposal without UST which chains are receiving the people leaving the Terra ecosystem  why Haseeb compared the collapse of UST to the collapse of the Soviet Union who Kevin believes should be reimbursed in the aftermath of the UST collapse how political considerations might affect how Terra continues to develop going forward why Terra NFTs were skyrocketing during the Terra meltdown whether crypto is in a bear or bull market Hosts   Haseeb Qureshi, managing partner at Dragonfly Capital https://twitter.com/hosseeb Tom Schmidt, general partner at Dragonfly Capital https://twitter.com/tomhschmidt Tarun Chitra, managing partner at Robot Ventures https://twitter.com/tarunchitra  Robert Leshner, founder of Compound  https://twitter.com/rleshner    Guest Kevin Zhou, CEO of Galois Capital https://www.linkedin.com/in/kevin-zhou-82938324/    Previous Unchained Coverage   Nic Carter, Erik Voorhees, and Eric Wall on the collapse of UST https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/  Do Kwon on backing UST with BTC ​​https://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/ Kevin Zhou on the risk of UST's death spiral https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/  Jon Wu on how Terra got depegged: https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/ Do Kwon on The Chopping Block https://www.youtube.com/watch?v=0xl8u7-KVwM    Haseeb's summary of the Terra collapse: https://medium.com/dragonfly-research/the-reign-of-terra-the-rise-and-fall-of-ust-208dabbc8e6e   Jon Wu's write-up on the UST Depeg Article: https://www.notboring.co/p/terra-to-the-moon-and-back  Thread: https://twitter.com/jonwu_/status/1523793482850050048?s=20&t=lvB1zdz98wu5TE5emh4fCw    Terra Background Info  Twitter: https://twitter.com/terra_money  UST Mechanics: https://angelprotocol.medium.com/how-does-ust-work-ec7b2f6e2c2c UST Bank Run: https://www.wsj.com/articles/crash-of-terrausd-shakes-crypto-there-was-a-run-on-the-bank-11652371839 Speculation of a deliberate attack: https://onchainwizard.substack.com/p/how-to-make-800m-in-crypto-soros?s=r Do Kwon's Proposed Terra's Revival: https://www.coindesk.com/tech/2022/05/13/do-kwon-proposes-restart-of-terra-blockchain-as-ust-luna-plummet/ Anchor: https://twitter.com/anchor_protocol  Terra 2.0: https://unchainedpodcast.com/do-kwon-has-a-new-plan-again/    LFG Purchases Luna Foundation Guard: https://lfg.org/team/ Pomp – the $10B Bitcoin Bet on Stablecoins https://pomp.substack.com/p/the-10-billion-bitcoin-bet-on-stablecoins?s=w 3/10 BTC purchase https://twitter.com/LFG_org/status/1503680315969060864  $1 BTC billion purchase https://twitter.com/terra_money/status/1496162889085902856  TFL x LFG relationship https://twitter.com/stablekwon/status/1502225674840555523    Galois Twitter threads https://twitter.com/Galois_Capital/status/1511455703642394628  https://twitter.com/Galois_Capital/status/151119893095193804   Tarun's thoughts on algorithmic stablecoins https://twitter.com/Unchained_pod/status/1512465290910736391 

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.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading. The post Heavy Networking 620: High Frequency Trading And Big Data Network Design appeared first on Packet Pushers.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading. The post Heavy Networking 620: High Frequency Trading And Big Data Network Design appeared first on Packet Pushers.

Network design for high frequency trading and big data networks is the topic of today's Heavy Networking. If you're interested in what it's like to carefully manage data center latency and maintain your sanity in a zero downtime environment, this is your show. Our guests are are Jeremy Filliben and Marc Washco of Jump Trading. The post Heavy Networking 620: High Frequency Trading And Big Data Network Design appeared first on Packet Pushers.

Jump Trading is one of the deepest-pocketed firms operating in the crypto market.  Jump put its full scale on display earlier this month when the firm stepped up to cover hundreds of millions of dollars in losses after Wormhole—a DeFi project to which Jump contributes code—was hacked. In this episode of The Scoop, Jump president and CIO Dave Olsen explained how the firm reacted to the hack and market-bought more than $300 million in ETH to cover the losses. "This was not a syndicate or a group of folks that pool resources to go out and purchase 120,000 ether," he said, explaining: "We did debate that but what led to such a swift conclusion was what we felt that we would have a bigger impact on the community by immediately being able to tell everything that their assets were backed one-to-one and step up and kind of lead the community." Once a secretive equities trading operation, Jump Trading has become more public-facing in a bid to grow its presence in the crypto market. During this episode, Olsen dove into details that have not been historically talked about publicly—including Olsen's view on what is important in market making in both crypto and traditional markets. In Olsen's view, connectivity to as many venues as possible is one of the three "building blocks" for being successful as a market maker.  "You've got to be involved and connected to and able to trade pretty much everywhere that instrument trades," he said.  In addition to connectivity, you also need ample capital, he said. "So connectivity, scale, and then the ability to analyze all the information you're getting and translate that into your best prediction of what should the price be for that asset at that moment in time? Those are really the three building blocks.” Episode 13 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Dave Olsen, President & Chief Investment Officer at Jump Trading Group. 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 Fireblocks, Coinbase Prime & Chainalysis Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com. About Coinbase Prime Coinbase Prime is an integrated solution that provides institutional investors with an advanced trading platform, secure custody, and prime services to manage all their crypto assets in one place. Coinbase Prime fully integrates crypto trading and custody on a single platform, and gives clients the best all-in pricing in their network using their proprietary Smart Order Router and algorithmic execution. For more information, visit www.coinbase.com/prime. About Chainalysis Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world's most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

Tisha Schuller welcomes Chase Lochmiller and Cully Cavness, co-founders of Crusoe Energy Systems, to the Energy Thinks Podcast. Crusoe provides companies flare mitigation by redirecting flare gas to power computation. Tisha, Chase, and Cully discuss:·       Using excess natural gas to power computer processing, including digital currency; ·       Developing a company that is a magnet for talent; ·       Cultivating an idea meritocracy and tapping into an organization's collective genius;·       Leading three distinct workforces within one culture;·       Focusing on DEI in recruiting;·       Approaching innovation incrementally; and, ·       Building Crusoe's sustainable and economic business strategy. Prior to becoming the CEO of Crusoe in 2018, Chase Lochmiller utilized his skills in computer science as a quantitative researcher at GETCO and Jump Trading. He also served as a general partner at Polychain Capital. Chase has a master's in computer science with a specialization in artificial intelligence from Stanford University and undergraduate degrees in math and physics from MIT.Cully Cavness, president of Crusoe, puts his financial and leadership experience in the oil and gas sector to use. He has served in multiple positions including business development manager at Recurrent Engineering, CFO at Sword & Plough, and associate of energy investment banking at Petrie Partners. He was the vice president at Highlands Natural Resources for two years before. Cully has an MBA from the University of Oxford and a BA in geology from Middlebury College. He also completed the Executive Education program for Strategic Negotiations, Transaction Design, and Negotiation at Harvard Business School.Subscribe here for Tisha's weekly "Both Things Are True" email newsletter. Follow all things Adamantine Energy at www.energythinks.com. Thanks to Lindsey Slaughter, Adán Rubio, and Michael Tanner who make the Energy Thinks podcast possible. [Interview recorded on February 9, 2022]

Tisha Schuller welcomes Chase Lochmiller and Cully Cavness, co-founders of Crusoe Energy Systems, to the Energy Thinks Podcast. Crusoe provides companies flare mitigation by redirecting flare gas to power computation. Tisha, Chase, and Cully discuss:·       Using excess natural gas to power computer processing, including digital currency; ·       Developing a company that is a magnet for talent; ·       Cultivating an idea meritocracy and tapping into an organization's collective genius;·       Leading three distinct workforces within one culture;·       Focusing on DEI in recruiting;·       Approaching innovation incrementally; and, ·       Building Crusoe's sustainable and economic business strategy. Prior to becoming the CEO of Crusoe in 2018, Chase Lochmiller utilized his skills in computer science as a quantitative researcher at GETCO and Jump Trading. He also served as a general partner at Polychain Capital. Chase has a master's in computer science with a specialization in artificial intelligence from Stanford University and undergraduate degrees in math and physics from MIT.Cully Cavness, president of Crusoe, puts his financial and leadership experience in the oil and gas sector to use. He has served in multiple positions including business development manager at Recurrent Engineering, CFO at Sword & Plough, and associate of energy investment banking at Petrie Partners. He was the vice president at Highlands Natural Resources for two years before. Cully has an MBA from the University of Oxford and a BA in geology from Middlebury College. He also completed the Executive Education program for Strategic Negotiations, Transaction Design, and Negotiation at Harvard Business School.Subscribe here for Tisha's weekly "Both Things Are True" email newsletter. Follow all things Adamantine Energy at www.energythinks.com. Thanks to Lindsey Slaughter, Adán Rubio, and Michael Tanner who make the Energy Thinks podcast possible. [Interview recorded on February 9, 2022]

This week in crypto we go over Wormhole's parent company backstopping their $320M exploit, the US Department of Justice seizing $3.6 billion worth of Bitcoin tied to the 2016 hack crypto exchange Bitfinex, and EU weighing potential metaverse regulations.

Welcome to episode 94 of the FTX Podcast with special guest Michael Cahill and your host Tristan Yver.Michael is the Head of Europe, the Middle East, and Africa for Jump Trading.

Dave Olsen, President and CIO of Jump Trading Group, joins Ronan and JR to discuss smart contracts, DeFi, the Solana blockchain, and how the Pyth Network is bringing financial data into this ecosystem. Recorded October 27, 2021.

Today's guest is Chase Lochmiller, Co-Founder and CEO of Crusoe Energy.Crusoe is on a mission to eliminate routine flaring of natural gas and reduce the cost of cloud computing. The startup repurposes otherwise wasted energy to fuel the growing demand for computational power in the expanding digital economy.Chase is an avid tech enthusiast passionate about enabling new technologies like AI and blockchain to impact people's lives positively. Before founding Crusoe, Chase was a General Partner at Polychain Capital, a $1 billion fund investing in blockchain technologies, digital assets, and energy-intensive computing applications. Chase was previously a quantitative researcher and trader at Jump Trading and GETCO, where he developed and managed a portfolio of algorithmic trading strategies. Chase holds undergraduate degrees in math and physics from MIT and a master's degree in computer science from Stanford, specializing in artificial intelligence. I was looking forward to this episode because cryptocurrency is a controversial topic in the climate space. Chase walks me through the problem of flaring for oil and gas companies and how Crusoe Energy came to be. We also have a lively discussion about the biggest blockers for cryptocurrency related to energy consumption, how the fossil fuels companies will exist in the clean energy future, and why powering data centers is a climate issue. This episode is a must-listen, and Chase is a fantastic guest.Enjoy the show!You can find me on twitter @jjacobs22 or @mcjpod and email at info@myclimatejourney.co, where I encourage you to share your feedback on episodes and suggestions for future topics or guests.Episode recorded September 20th, 2021For more information about Crusoe Energy: https://www.crusoeenergy.com/For more information about this episode, visit: https://myclimatejourney.co/episodes/chase-lochmiller

On the show today, we have Hendrik Hofstadt, director of digital assets at Jump Trading and core contributor to Wormhole. Wormhole is a simple, generic protocol that delivers a pathway for any kind of information—funds, votes, programs and more—from any blockchain in the network to any other. In short, Wormhole acts as a notary that allows message passing between networks. Recently, Wormhole announced they would launch version 2 of their network, which will go-live connecting four networks - Ethereum, Terra, Solana and Binance Smart Chain. Wormhole has a set of 19 validators known as guardians, which attest to finalised chain state in a p2p network that is verifiable. 19 guardians publish a signature if they see a finalised message being posted on a network and Wormhole network aggregates the signatures to produce verifiable action approvals to be consumed on other networks. In a way Wormhole acts as a light client itself on networks it connects to. This podcast is a deep-dive into one of the hottest networks of 2021, tune-in to hear all about the origin story, the intricacies of the network, how it can be used, what's to come in the future and so much more.

On this episode of “The Breakdown,” NLW looks at an array of recent fund announcements, including: Dan Tapiero and 10T's $750 million Pantera raising a $600 million fund  Jump Capital announcing a new $350 million fund with more focus on crypto and Jump Trading launching Jump Crypto  Mets' owner Steve Cohen investing in a high-frequency trading firm Bain Capital Ventures launching a dedicated crypto fund   What does it say about the state of the crypto markets? Listen to find out.  Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Feodora Chiosea/iStock/Getty Images Plus, modified by CoinDesk.

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what your are missing . https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what you are missing on a daily basis https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what your are missing . https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what you are missing on a daily basis https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what your are missing . https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Cryptocurrency & FinancialMarket News & Stats15th Sept 2021Some specific coins look very bullish Full podcast see what you are missing on a daily basis https://www.patreon.com/search?q=crypto+grannyToday, I talk about the following:1 Some Cryptos look very bullish2. Fidelity to employ more in Crypto by 70%3. Derivative positions on Equities, BTC, ETH, XRP & others4. Fiat markets, Economics, the FED, Stagflation,10 yr USD bond yield rate, & Social media5.PundiX,EBAY,FTX,PAYPAL,QTUM,POLYGON,SXP,BNB,OKEX,FUN,BYBIT,HT,KUCOIN,WAVES,FILECOINS.BYBIT, THOR,TEZOS,ROBINHOOD,COINBASE,fidelity, stone investments, BTT, PAXOS, BANK OF AMERICA, DCG, WAR, ISRAEL, SEC,FED KAPLAN,FED ,FUNFAIR, BOSIC,TAPER, POLYGON,MATIC, SHINU, ALPHA, BTC EFT, SAXO BANK, COINBASE,Bank of Oman Bank of America,Paxful,OKcoin, Musk,ENJ,JP Morgan,Polygon, Binance,HBAR, Singapore,Bridge,Kusama,Bullish break out , bullish triangle, 4 hour, 200 day moving average,Tezos , ADA, Civic, Wells Gargo, ENH,DOT,CHZ,CRO,BNB,BSC,SOL,ICON,Solana ,XINFIN ,CELO,Certik, audius, hex and more6.TRON twitted something big happening next week could be a burn7. Jump Trading coming to Cryptoland huge8. Morgan Stanley recruiting more in Crypto9. Solana can do 400,000 TPS amazing the fastest technology out there10. SEC Chair Gary Gensler has no idea 11. Macquarie Bank is coming to Crypto too - huge12. Polkodot amazing 13. More countries looking at BTC as legal tender 14. Hash Hedera news15. Algorand $300m fund and more support 16. Ripple, CME and SBI17. Cardano updates and more

Steve Cohen, Jump Trading, Bain Capital among those increasing their exposure to crypto. This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW looks at an array of recent fund announcements, including:Dan Tapiero and 10T's $750 millionPantera raising a $600 million fund Jump Capital announcing a new $350 million fund with more focus on crypto and Jump Trading launching Jump Crypto Mets' owner Steve Cohen investing in a high-frequency trading firmBain Capital Ventures launching a dedicated crypto fundWhat does it say about the state of the crypto markets? Listen to find out. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Feodora Chiosea/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There's obviously a lot of interest in crypto and DeFi these days. And while it's growing rapidly, it's still not cutting much into traditional finance business lines. For the most part, trading on blockchains is slow and costly. But some projects don't accept the premise that blockchains have to be slow and inefficient. Solana is an Ethereum competitor whose native token has been soaring. And unlike Ethereum, its transactions are cheap and ultrafast. So what tradeoffs does it make? And what projects are being built on top of it? On this episode, we speak with Solana founder Anatoly Yakovenko and Kanav Kariya of Jump Trading, who is involved with an oracle project called Pyth. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

As more and more financial institutions move into crypto, will traditional banking and trading infrastructure be able to manage these growing inflows? Sam Bankman-Fried, CEO of Alameda Research and FTX, joins Dave Olsen, President of Jump Trading, and Jump Capital's FinTech and Crypto-focused Partner Peter Johnson to discuss the driving forces of bitcoin and crypto's broader institutionalization. Talking with Host Jason Felger, our guests explore the growth of digital currencies through the lens of Bitcoin and others to understand how the industry is adapting to this new reality and the various opportunities being presented by the broader foundational gaps across the crypto landscape. Our guests also preview the Pyth Network, an innovative new partnership to bring Hifi data to DeFi and broaden transparency across these growing markets.

An episode with Peter Johnson a Partner of Jump Capital and one of the people that has grown the venture arm of Jump Trading to where it is today. Co-hosted by Sina Nader our COO of FTX.US we dove into growing a venture capital business, investment theses, how to find good teams, and the advantages of having Jump Trading as a backer amongst other lines of questioning! 

Sam Bankman-Fried, the CEO of FTX and Alameda Research,  and Anatoly Yakovenko,  the co-founder and CEO of Solana Labs, discuss the Project Serum ecosystem that they are building on the Solana blockchain, and the unique approach to scaling the Solana blockchain is taking. In this episode, they talk about: their backgrounds, and how they became involved in crypto why Solana takes a different approach to scaling and how it is implemented why they think a relatively lower number of nodes is sufficient to protect from attacks or collusion what the vision for Solana is, who they see using it, and how Serum fits into that vision why they think there haven't been more crypto projects migrating to Solana yet Solana's proof-of-history algorithm and how it works how Solana plans to attract DeFi developers why Serum was made interoperable with Ethereum the types of traders they are hoping to attract with Serum, and what their experience will be like on the platform why Project Serum is an ecosystem and not just an order book exchange how high-frequency trading firm Jump Trading came to adopt Serum how Serum will manage trading tokens from different chains the purpose of Serum's two tokens, SRM and MSRM and what's in store for Project Serum in the future   Thank you to our sponsors!  Crypto.Com: https://www.crypto.com Gods Unchained: https://playgu.co/unchainedpod   Episode links:  Anatoly Yakovenko: https://twitter.com/aeyakovenko Solana: Solana.com Sam Bankman-Fried: https://twitter.com/SBF_Alameda Project Serum: https://www.projectserum.com Project Serum on Twitter: https://twitter.com/projectserum   Solana CoinList auction in March: https://www.theblockcrypto.com/linked/59952/blockchain-project-solana-raises-1-76m-from-its-launch-auction-on-coinlist   Solana network stats: https://explorer.solana.com   The Block Research on Solana: https://www.theblockcrypto.com/genesis/76615/solana-blockchain-overview   Proof of history:  https://medium.com/solana-labs/proof-of-history-a-clock-for-blockchain-cf47a61a9274   Serum: https://www.theblockcrypto.com/daily/72924/ftx-dex-serum-solana-blockchain   Tether: https://medium.com/solana-labs/tether-to-bring-usdt-to-the-solana-network-77864184b20 Jump Capital: https://www.theblockcrypto.com/post/76826/veteran-market-maker-jump-trading-forays-into-defi-to-provide-liquidity-for-ftxs-solana-based-dex

We unstack:► Volt Capital's investment thesis as a pre-seed equity fund ► Two of their portfolio companies: Dharma & Valiu ► DeFi capital, DeFi yield aggregators, and Bitcoin in DeFi ► The founding story behind the Chicago DeFi Alliance ► The new DeFi accelerator backed by institutional trading firms such as Jump Trading, DRW and CMT Digital + more!TIMESTAMP2:25 Imran's early days as an entrepreneur5:50 Being a strategic investor and active network participant8:26 Volt's Investment Thesis13:58 Yield farming bringing in new users to DeFi?18:07 DeFi Yield Aggregators24:46 Bitcoin in DeFi32:00 Chicago DeFi Alliance40:00 Bitcoin's future42:12 Rapid Fire Q&AFOLLOW OUR GUEST► @lmrankan ► @volt_cap ► @tokendaily ► Volt Capital: https://www.volt.capital/ ► Chicago DeFi Alliance: https://chicagodefi.org/FOLLOW AMBER GROUP Twitter: @ambergroup_ioTelegram: @AmberGroupEmail: contact@ambergroup.ioWebsite: https://www.ambergroup.io/#AmberGroup #Volt #CUPofCrypto #CryptoUnstacked #DeFiDefined #DeFi #Investing #TokenDaily #Dharma #Valiu #Bitcoin #Ethereum #Yield #Aggregator #ChicagoDeFiAlliance #Tendies