CoinDesk Podcast Network

On this episode of CoinDesk's Public Keys from the New York Stock Exchange, host Jennifer Sanasie is joined by co-host Tim Grant, CEO of Deus X Capital, to start off the conversation with Strategy President and CEO Phong Le. He explains why he expects Strategy to outperform Bitcoin in the next bull cycle, how its STRC product and "digital credit" framework aim to make Strategy the "JP Morgan of digital finance." Bitwise Asset Management Head of Research Ryan Rasmussen breaks down Q2 earnings from Circle, Galaxy, and American Bitcoin, arguing the market is mis-pricing Circle ahead of a multi-trillion-dollar stablecoin era. Plus, Jennifer and Tim unpack Bitcoin ETF flows, the best week since April at $853 million in net inflows, and Tim lays out his thesis on sovereign AI, data privacy, and where decentralization fits into the next wave of compute.

-

Learn more at bullish.com.

-

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

-

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

-

Chapters/Timecodes:

00:00 Welcome to Public Keys

00:21 Sleepy Markets and 'Groundhog Week' With Tim Grant

02:08 The Coldcard Hack and the Self-Custody Debate

03:15 Strategy's Phong Le Joins Public Keys

03:46 Why Strategy Expects to Beat Bitcoin

04:20 Inside 'STRC' and the Digital Credit Play

09:38 $4.75B in Cash and the Preferred Stock Lesson

11:47 Strategy: 'The Central Bank of Bitcoin'

12:19 Where Strategy's Software Business Fits

14:55 Circle, Galaxy and American Bitcoin Earnings

15:12 Why Bitwise Says Circle Is Mispriced

19:37 Circle's Arc Mainnet and the GENIUS Act

21:07 Galaxy's Pivot From Crypto to AI

24:05 American Bitcoin and the Miner Shakeout

27:41 Trump Ties and CLARITY Act Ethics Risk

30:14 ETF Flows: Bitcoin's Best Week Since April

32:52 Tim Grant on Sovereign AI and Data Privacy

The Senate opened the first stage of CLARITY voting.

The U.S. Senate finally took a first step into the procedural votes on the Clarity Act, after the leadership moved early Saturday to start official floor action on the crypto market structure bill. CoinDesk's Sam Ewen hosts "CoinDesk Daily."

-

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ realfi.co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

-

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

In his first interview since declaring the ElizaOS token dead, Eliza Labs Founder Shaw Walters sits down with CoinDesk's Jennifer Sanasie to lay out what he says actually happened. He also makes a broader case for why crypto's casino culture is actively driving out the builders who could make the space matter and why he's still coding Eliza every day regardless.

-

Timecodes:

00:00 - Shaw Walters Joins CoinDesk
02:23 - “Why Do People Think I Owe Them Anything?"
06:35 - How AI16Z Started: A $75K Joke That Hit $2.6 Billion
10:49 - Does He Regret Launching the Token?
11:43 - Crypto “Needs to Die And…Be Restarted"
15:34 - On the Burwick Lawsuit: "It Was a Total Scam"18:36 - "The Casino Is Not the Industry"
20:40 - Why He’s Still Building Eliza 24:00 - "Stay Away From All of This and Invest In Yourself"

-

This episode was hosted by Jennifer Sanasie. This interview has been edited for clarity and focus.

With the CLARITY Act pushed to September and $130 million drained in the Coldcard exploit, Crypto Market Analyst Ray Salmond joins Jennifer Sanasie on Markets Outlook to unpack Fed rate odds, Bitcoin’s four-year cycle, and the key metrics to watch ahead of a potential CLARITY Act vote. Plus, in today’s Brand New Rails, we explore how Dinari is bringing U.S. stocks on-chain.

-

Timecodes:

00:00 - Ray Salmond Joins Markets Outlook

00:55 - Jobs Report and the Fed

01:58 - Bitcoin's Ceiling and the CLARITY Act Delay

02:26 - Why CLARITY Stalled: Banks, Stablecoins, and the Trump Cloud

04:32 - How Crypto Markets Will Front-Run the CLARITY Vote

06:39 - Brand New Rails: Dinari Brings US Stocks On-Chain

09:26 - Bitcoin's Four-Year Cycle: Still Intact?

12:26 - The Coldcard Hack: An Ideological Blow to Self-Custody

15:06 - Beyond Bitcoin: RWA, Prediction Markets, and the Altcoin Reality

-

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. RealFi is launching August 2026. Join the Testnet now at realfi.co.

Is CLARITY dead?

The U.S. Senate is set to break for summer recess without voting on the Clarity Act, pushing the crypto market structure bill to September at the earliest. With passage odds slipping, some in the industry argue the SEC and CFTC can fill the gap through guidance alone. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

-

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ realfi.co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

-

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