CoinDesk Podcast Network

North Korea arrests hackers accused of stealing from state banks.

North Korean authorities arrested a group of former military hackers accused of stealing funds from two state banks and laundering the money through crypto, according to a Daily NK report. The regime's hackers stole a record $2 billion in crypto last year. CoinDesk's Uyen Truong hosts "CoinDesk Daily."

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JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://x.com/jpegtrading⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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

On this episode of CoinDesk's Public Keys from the New York Stock Exchange, Jennifer Sanasie is joined by Charles Schwab Head of Crypto Research Jim Ferraioli, who breaks down the odds of a Fed hike, why he believes the CLARITY Act is not yet priced into Bitcoin, and his finding that some 60% of Bitcoin's daily price move can't be tied to macro factors.

Galaxy Head of Firmwide Research Alex Thorn unpacks the newly launched $15 million Bitcoin Security Consortium — backed by nine firms including BlackRock, Coinbase, Fidelity, Galaxy, and Strategy — and Galaxy's own $5 million Bitcoin Quantum Readiness Initiative, while making the case that CLARITY is in its "11th hour" ahead of the August recess.

Finally, FalconX Head of Derivatives Griffin Sears kicks off CoinDesk's Perps Week, explaining how perpetual futures jumped from crypto into oil, single-name equities, and pre-IPO SpaceX exposure. Plus, a look at ETF flows and a Crypto Fear & Greed reading stuck at 30.

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

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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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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

00:23 Charles Schwab's Jim Ferraioli Joins

00:40 Fed Hike Odds and What to Watch This Week

02:16 Why the CLARITY Act Isn't Priced Into Bitcoin

04:35 60% of Bitcoin's Price Move Is Unexplained

06:30 Ether ETFs Outperform Bitcoin

07:56 What's Really Driving Ethereum's Flows

09:33 Bitcoin's Year-End Outlook and $95K Fair Value

12:02 $15M Bitcoin Security Consortium Launches

12:29 Galaxy's Alex Thorn on Quantum Readiness

16:33 Is $15M Enough to Secure Bitcoin?

19:07 The CLARITY Act at the 11th Hour

21:15 Bitcoin and Ether ETF Flows Diverge

23:05 FalconX's Griffin Sears Kicks Off Perps Week

25:55 Perps Move Into TradFi and Pre-IPO Bets

28:46 What's Still Holding Perps Back

30:15 Crypto Fear & Greed Stuck at 30

BitMEX to shut down by the end of September.

BitMEX, the exchange that invented the perpetual swap, will shut down on September 23 after an 11-year run. On the same day, it was hit with a proposed class-action suit alleging theft of 622 bitcoin and insider trading. CoinDesk's Sam Ewen hosts "CoinDesk Daily."

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

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Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

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JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://x.com/jpegtrading⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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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 on the week's biggest policy news from SEC Commissioner Hester Peirce's statement on crypto vaults to the London Stock Exchange's launch of a 24/5 tokenized market.

Then, Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, joins to make the case that the CLARITY Act deserves a Senate floor vote before the August recess and argues that President Trump's agreement to subject himself to conduct restrictions is a "historic" and unprecedented ethics concession. Witt also breaks down the CFTC's expanded mission and the fight over funding and staffing.

Plus, Rebecca and Renato debrief on the lessons of MiCA and the state of bipartisan compromise on the Hill, and name the state attorneys general, led by an op-ed from Montana's AG, as their Person of the Week.

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

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JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets:⁠⁠⁠⁠⁠⁠ https://x.com/jpegtrading⁠⁠⁠⁠⁠⁠

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Check out CoinDesk Research’s report on the evolution of crypto centralized exchanges, with a case study on Binance at: https://www.coindesk.com/research/the-evolution-of-the-crypto-cex-landscape-a-case-study-on-binance

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Timecodes:

00:00 Cold Open: 'No Other President Has Done That'

01:07 Welcome to The Policy Protocol

01:59 Hester Peirce on Crypto Vaults & Onchain Lending

04:22 The LSE's 24/5 Market, LSE24

05:59 NYSE, OKX, and TradFi's Tokenization Push

06:18 The CLARITY Act & Guest Patrick Witt

06:41 Will CLARITY Pass Before the August Recess?

09:01 Inside the Bill's Historic Ethics Provision

11:06 The Tillis Ethics Compromise

12:40 Funding the CFTC's Expanded Mission

14:03 Why CLARITY Isn't a Giveaway to Crypto

17:04 Debrief: MiCA's Lessons and Market Structure

20:37 Person of the Week: State Attorneys General

Wanchain bridge hack, why Ethereum keeps getting it wrong, and Cardano's outlook with Charles Hoskinson.

After a bridge hack rattled the Cardano ecosystem, Charles Hoskinson, CEO and Founder of Input Output, joins Jennifer Sanasie on Markets Outlook to lay out why crypto desperately needs wallet insurance, ZK-powered identity, and white hat rescue frameworks. Plus, what Cardano's latest hard fork really means for decentralized governance, why he thinks Ethereum keeps getting it wrong, and what it will actually take for prices to recover. Plus, we look at the DTCC taking tokenized securities live in today’s Brand New Rails segment.

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Timecodes:

00:00 - Charles Hoskinson Joins Markets Outlook

01:25 - Wanchain Bridge Hack and What It Revealed

02:21 - Why Midnight Was Built for This Moment

03:44 - Why Crypto Needs Wallet and Bridge Insurance

05:28 - How ZK Identity Unlocks Recovery and White Hat Rescues

09:46 - The "Unsexy" Unlock: Why Insurance Could Onboard the Masses

13:17 - Cardano's Hard Fork to v11 and What It Means

14:42 - Cardano's Decentralized Governance in Action

17:35 - Executive Function: The Last Governance Milestone

20:08 - Brand New Rails: What’s Next After the DTCC Moved Tokenized Securities Into Live Production

22:07 - Cardano's Outlook: Narrative Reset, Bitcoin DeFi, and the Partner Chain Model

26:05 - The Anthropic Analogy: Why Doing It Right Beats Doing It Fast

29:12 - Why Ethereum Keeps Getting It Wrong

36:22 - When Will Prices Catch Up? Charles' Market Framework

42:28 - The AI Wildcard and What It Means for Crypto

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

-

Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

Check out your rate by using their loan calculator at ledn.io

-

JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets: https://x.com/jpegtrading

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This episode was hosted by Jennifer Sanasie.