CoinDesk Podcast Network

On this episode of CoinDesk's Public Keys from the New York Stock Exchange, host Jennifer Sanasie is joined by CoinDesk Indices and Data to break down nearly $1.8 billion in weekly Bitcoin ETF outflows, Strategy's new capital plan, and whether the digital asset treasury narrative is back.

SharpLink CEO Joseph Chalom joins to unpack the Ethereum Foundation's funding crisis, the launch of ETHlabs, and the company's $75 million raise, as he makes the case for an institutional supercycle in ETH. In this week's 10X, Kaizen founder Brian Jung breaks down his MicroStrategy short.

Moody's Ratings Managing Director and Global Head of Digital Economy Fabian Astic explains how the firm is embedding credit ratings into tokenized securities on Solana and unveils the first-ever credit rating methodology for stablecoins.

Plus, Midnight Foundation President Fahmi Syed details the partnership with Bank of England-regulated Monument Bank and why privacy is becoming the missing piece for institutional adoption.

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This episode of Public Keys is brought to you by Kraken Pro. For more: https://pro.kraken.com/

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Learn more at https://www.bullish.com/.

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To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp.

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Timecodes:

00:00 Welcome to Public Keys

00:52 BTC ETFs See $1.8B in Weekly Outflows

02:57 Strategy's Capital Plan and Bitcoin's Week

04:12 Is the Digital Asset Treasury Narrative Back?

06:37 Ethereum Foundation Departures and ETHlabs

07:06 SharpLink CEO Joseph Chalom Joins

08:15 Ethereum's Funding Crisis and the ETH Bull Case

10:25 Inside SharpLink's $75M Raise

13:36 ETH's Institutional Super Cycle and Price Outlook

15:19 Will the Clarity Act Pass This Year?

17:45 10X: Brian Jung's Strategy Short

19:16 Moody's Ratings Brings Credit Ratings On-Chain

19:46 Fabian Astic on the First Stablecoin Credit Rating

21:36 Do Stablecoins Need Ratings After the Genius Act?

23:17 Why launch token ratings on Solana and Canton first?

25:36 Collateral Mobility and $255T in Trapped Liquidity

28:46 Is Privacy the Missing Piece for Institutions?

29:02 Midnight's Fahmi Syed on the Monument Bank Deal

33:46 The Collateral Warehouse and Global Expansion

36:38 Thanks for Watching

Strategy's new capital framework clears the way for selling BTC.

Michael Saylor's Strategy unveiled a new capital framework that clears the way to sell bitcoin for the first time, authorize up to $2 billion in buybacks, and raise its STRC preferred dividend to 12%. CoinDesk's Sam Ewen hosts "CoinDesk Daily."

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This episode was hosted by Sam Ewen. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Strategy's $13B unrealized loss.

Strategy is sitting on a $13 billion unrealized loss on its bitcoin holdings, with its STRC preferred stock down 25% from par. The company still has about 10 months of reserves to cover dividends but the bigger question is whether investor confidence holds if bitcoin doesn't bounce back. CoinDesk's Sam Ewen hosts "CoinDesk Daily."

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This episode was hosted by Sam Ewen. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

CoinDesk's The Policy Protocol hosts Rebecca Rettig and Renato Mariotti open with two hot topics: Coinbase's SEC-registered AI agentic trading launch and tribal gaming operators' letter to Senators Thune and Schumer demanding that the CLARITY Act include a prohibition on prediction markets.

Then Katie Boller Gosewisch, Executive Director of the Alliance to End Human Trafficking, joins to challenge CLARITY's Section 604, arguing that shielding DeFi developers from money-transmitter liability creates a "duty of care" gap that traffickers can exploit.

Plus, Rebecca and Renato close by naming Meta as their Person of the Week for its reported move into points-based prediction markets.

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Check out CoinDesk's latest episode of Public Keys from the NYSE: https://www.youtube.com/watch?v=75LrBmSScvY&list=PLZWrc_gWChqnim-9ZbIKZTOrPA7IgFKVR&pp=sAgC

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Register now for CoinDesk’s Policy and Regulation event on September 22, 2026: https://policy-regulation.coindesk.com/.

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Timecodes:

00:00 Welcome to The Policy Protocol

00:51 This Week: AI Trading, Prediction Markets, Human Trafficking

01:15 Coinbase Launches AI Agentic Trading

02:22 SEC-Registered AI Agents and the Hallucination Problem

03:43 Tribes Concerns Over Clarity Act

05:30 Rebuttals to the Tribes' Clarity Concerns

06:23 Katie Boller Gosewisch Joins the Show

07:31 Section 604: The Liability Shield Traffickers Could Exploit

08:59 Are DeFi Developers Money Transmitters?

09:52 What Section 604 Actually Says, and What It Doesn't

10:54 Should We Reinstate a Human Trafficking Coordinator?

11:30 Duty of Care and the 'Turning a Blind Eye' Problem

13:07 The Roman Storm/Tornado Cash Case as the Test

14:37 Future Loopholes and the Reasonable Doubt Risk

15:28 Cryptocurrency, Anonymity, and Rising Online Trafficking

16:02 Blockchain Is Transparent, and That Helps Law Enforcement

17:39 Person of the Week: Meta

19:58 The Points-Based Prediction Market and What Meta Could Unlock

Does Ethereum have a funding crisis?

On today's Markets Outlook, Protocol Guild Organizer Trent Van Epps tells CoinDesk's Jennifer Sanasie why the Ethereum Foundation's subtraction philosophy is creating a critical funding gap for core developers, what it will take to fill it, and why he's still optimistic about ETH's future.

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Timecodes:

00:00 - Trent Van Epps Joins Markets Outlook

00:57 - Why Trent Left the Ethereum Foundation

01:55 - What Is Subtraction and Why It Matters

02:31 - 20% Workforce Cuts and the Funding Gap Explained

05:09 - Options for Solving the Funding Crisis

07:06 - Will Ethereum Lose Its First Mover Advantage?

08:40 - What Happens If the Funding Doesn't Come?

10:47 - What Institutions Should Replace the EF?

12:24 - Ethereum’s Future

14:37 - ETH the Asset: The Misconceptions and the Opportunity

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Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/mePmjknvBVc

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To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp.

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This episode was hosted by Jennifer Sanasie.