CoinDesk Podcast Network

On this episode of CoinDesk’s Public Keys at the New York Stock Exchange, host Jennifer Sanasie sits down with Digital Assets Council of Financial Professionals founder Ric Edelman to discuss the disconnect between declining crypto sentiment and Wall Street’s rapid investment in digital asset infrastructure. Their conversation covers the CLARITY Act, the fight over crypto in 401(k) plans, tokenization, and Edelman’s long-term outlook for Bitcoin.

In this week’s 10X Trade, Maelstrom CIO Arthur Hayes shares his highest-conviction trade.

Strive Chief Risk Officer Jeff Walton examines the future of digital credit following the sharp declines of STRC and SATA, arguing that digital credit could represent the next $300 trillion opportunity for Bitcoin.

Also on the show, BlackRock Global Head of Digital Assets Robbie Mitchnick discusses BITA, the iShares Bitcoin Premium Income ETF, while 21Shares Co-Founder Ophelia Snyder explains why today’s financial infrastructure may be fundamentally incompatible with the tokenized future Wall Street is working to build.

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

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Timecodes:

00:00 Welcome to Public Keys

00:37 Strategy's STRC Crashes to a Record Low

01:04 Schwab and Cboe Enter Prediction Markets

01:45 Franklin Templeton Files For Bitcoin Dividend ETFs

02:30 Ric Edelman on Crypto's Great Disconnect

05:05 Will the CLARITY Act Pass?

06:08 Crypto Lobby vs. Banking Lobby Into the Midterms

08:48 Edelman's Bitcoin and Ethereum Outlook

12:34 10X: Arthur Hayes' Highest-Conviction Trade

14:07 Strive's Jeff Walton on Digital Credit's Worst Day

15:46 Inside the STRC and SATA Leverage Liquidation

20:43 The $300 Trillion Credit Market Opportunity

23:46 Bitcoin and Ethereum ETF Flows

24:48 BlackRock's Robbie Mitchnick on the BITA Launch

28:37 Ophelia Snyder on Tokenization's Reality Check

30:15 The Scale Problem in Tokenizing Capital Markets

The Bank of England reversed its rules on stablecoin holdings.

The Bank of England reversed its plan to cap how much stablecoin individuals and businesses can hold, replacing it with a £40 billion ($50 billion) issuance cap per coin. 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 hosts Rebecca Rettig and Renato Mariotti open on the record-breaking SpaceX IPO, then turn to Terry Duffy's exit from CME and the exchange's threatened lawsuit against the CFTC over whether perpetuals are swaps or futures. Their guest is Dan Berkovitz, former Commissioner of the CFTC and former General Counsel of the SEC, now at Millennium Management, who brings a rare both-agencies vantage point to the push for SEC–CFTC harmonization, the swaps-versus-futures fight over perps, and the "economic purpose" test he argues sports-betting prediction markets cannot meet.

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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 The Role of CFTC

00:25 Welcome to The Policy Protocol

00:44 The Record SpaceX IPO and Retail Demand

01:41 Synthetic SpaceX Perps on Hyperliquid

03:40 Terry Duffy Exits CME and Sues the CFTC

06:07 Dan Berkovitz Joins the Show

06:44 Can the SEC and CFTC Harmonize?

08:29 Are Perpetuals Swaps or Futures?

09:11 Prediction Markets and the 'Economic Purpose' Test

11:07 The ErisX Sports Betting Precedent

13:07 The Hurricane Hedging Counterargument

15:02 Why Crypto Couldn't 'Come In and Register' Before

17:28 Gary Gensler Is Back

20:27 Person of the Week: Jamie McDonald

Arthur Hayes on his HYPE position, AI bubble, and the new Fed Chair.

On today's Markets Outlook, BitMEX Co-Founder and Maelstrom CIO Arthur Hayes tells CoinDesk's Jennifer Sanasie why all roads still lead to money printing, how long the AI bubble has left, and why he has zero regrets about publicly selling his HYPE position. Plus, his reaction to Michael Saylor's Bitcoin stress test.

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Timecodes:

00:00 - Arthur Hayes Joins Markets Outlook

01:30 - Arthur’s Reaction to Michael Saylor News and Strategy Business Model

02:59 - When Does the AI Bubble Burst?

03:56 - New Fed Chair Warsh's Task Forces & What It Really Means

06:58 - Uniswap & Standard Chartered's $100 Price Target

08:06 - Responding to the HYPE Selloff Drama

09:24 - HYPE vs. SOL: Which Wins?

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For more commentary from Arthur Hayes:

IG - https://www.instagram.com/cryptohayes/

LinkedIn - https://www.linkedin.com/in/arthur-hayes-b493b42/

Substack - https://cryptohayes.substack.com/

Web: https://www.cryptohayes.com

X - https://x.com/cryptohayes

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Maelstrom Fund:

LinkedIn: ⁠https://www.linkedin.com/company/maelstromfund ⁠

Web - ⁠https://www.maelstrom.fund ⁠

X - ⁠https://x.com/maelstromfund ⁠

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Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/75LrBmSScvY

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

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This episode was hosted by Jennifer Sanasie.

CME CEO says they will sue the CFTC.

CME CEO Terrence Duffy says the exchange will sue the CFTC, arguing the regulator's approval of Kalshi's perpetual futures violates the Dodd-Frank Act by treating what are really swaps as futures. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

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