CoinDesk Podcast Network

SpaceX's record-breaking IPO.

SpaceX raised $75 billion in the largest IPO in history and began trading on Nasdaq today. The company holds 18,712 bitcoin worth roughly $1.2 billion, giving SPCX investors indirect BTC exposure. 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 unpack the CFTC's 267-page proposed rule-making around prediction markets and event contracts, plus the letter from crypto CEOs backing the BRCA. And, a debate between John Lothian and Udesh Jha, Head of Exchange Analytics at Kalshi, over whether crypto perpetuals are properly classified as futures or swaps.

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Read more from Ari Redbord about the mixer indictment under 1956: https://www.linkedin.com/posts/ari-redbord_in-the-midst-of-debate-around-clarity-activity-7470924721635794944-8yUy?utm_source=share&utm_medium=member_ios&rcm=ACoAADHl20UBUd56sB8eTJ0w5gv3WIBQo2eJ6f0

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Timecodes:

00:00 Welcome to The Policy Protocol

01:10 CFTC's 267-Page Prediction Markets Rule

03:10 60+ CEOs Back the BRCA

05:30 The Perpetuals Debate

07:43 John Lothian's Case: Do Perpetuals Look Like Swaps?

09:45 Kalshi's Udesh Jha on Funding Rates and Cost of Carry

12:43 Would Swap Status Shut Out Retail?

16:45 Is Kalshi Making the Rules Up?

19:25 John's Closing: Market Manipulation Concerns

20:46 Udesh's Closing: 'Regulation First'

23:29 Person of the Week: State Regulators

23:38 Illinois' Digital Asset Trading Tax

24:20 NY DFS Aligns With Genius

CoinDesk's The Policy Protocol hosts Rebecca Rettig and Renato Mariotti unpack the CFTC's 267-page proposed rule-making around prediction markets and event contracts, plus the letter from crypto CEOs backing the BRCA. And, a debate between John Lothian and Udesh Jha, Head of Exchange Analytics at Kalshi, over whether crypto perpetuals are properly classified as futures or swaps.

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Read more from Ari Redbord about the mixer indictment under 1956: https://www.linkedin.com/posts/ari-redbord_in-the-midst-of-debate-around-clarity-activity-7470924721635794944-8yUy?utm_source=share&utm_medium=member_ios&rcm=ACoAADHl20UBUd56sB8eTJ0w5gv3WIBQo2eJ6f0

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Timecodes:

00:00 Welcome to The Policy Protocol

01:10 CFTC's 267-Page Prediction Markets Rule

03:10 60+ CEOs Back the BRCA

05:30 The Perpetuals Debate

07:43 John Lothian's Case: Do Perpetuals Look Like Swaps?

09:45 Kalshi's Udesh Jha on Funding Rates and Cost of Carry

12:43 Would Swap Status Shut Out Retail?

16:45 Is Kalshi Making the Rules Up?

19:25 John's Closing: Market Manipulation Concerns

20:46 Udesh's Closing: 'Regulation First'

23:29 Person of the Week: State Regulators

23:38 Illinois' Digital Asset Trading Tax

24:20 NY DFS Aligns With Genius

The bug that tanked ZEC with Josh Swihart.

On today's Markets Outlook, ZODL CEO Josh Swihart joins CoinDesk's Jennifer Sanasie to break down the Zcash vulnerability discovered with the help of AI, including how it was found, fixed, and what it means for the protocol's future. Plus, he weighs in on privacy coins vs. government pushback, formal verification as the new security standard, and why Zcash is more battle-hardened than ever.

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Timecodes:

00:00 - Zcash Bug Found by AI After Four Years

03:26 - What Went Through Josh’s Mind When He Found Out

04:47 - Could the Bug Have Been Exploited?

05:47 - How the Bug Helps the Zcash Ecosystem

07:27 - Zcash vs. Other Privacy Protocols

09:54 - Will Governments Push Back on Privacy Coins?

11:45 - Formal Verification and Finding Future Vulnerabilities

14:08 - What Other Protocols Can Learn from This

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Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/zn3D_adn6nI

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Register now for CoinDesk’s Policy and Regulation event on September 24, 2026: ⁠https://policy-regulation.coindesk.com/⁠.

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This episode was hosted by Jennifer Sanasie.

Saylor and Mallers' debate at BTC Prague.

Strategy executive chairman Michael Saylor and Twenty One Capital CEO Jack Mallers debated Strategy's capital structure at BTC Prague. Mallers challenged Saylor on dilution and how out-of-the-money convertible debt factors into mNAV calculations. 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.