WuBlockchain Podcast

In this episode of the WuBlockchain Podcast, we speak with Chris Yin, co-founder and CEO of Plume, about RWA adoption, onchain yields, liquidity risks, and the future of tokenized assets. Chris argues that while stablecoins have proven the potential of RWAs, the bigger challenge is no longer tokenization itself, but distribution and liquidity.
Chris discusses RWA products offering 12%–15% yields and the underlying credit, custody, and liquidity risks investors need to understand. He also explains why secondary markets remain underdeveloped and why instant liquidity cannot always be guaranteed.
Looking ahead, Chris expects growing competition from traditional financial institutions and sees distribution and product design as key differentiators. He believes the next phase of RWAs will extend beyond tokenization into onchain derivatives, secondary markets, and investment products combining crypto and traditional assets.
Timeline:
00:00 What Is Plume Building in the RWA Market?
01:06 Why Chris Founded Plume
03:05 Why Stablecoins Are the Most Successful RWA Use Case
05:55 Why Do Crypto Users Need RWAs?
09:13 Why RWA Distribution Matters More Than Tokenization
11:54 Balancing Yield, Risk, and Liquidity in RWAs
14:55 Where Do High RWA Yields Come From?
19:21 Managing Redemptions During Market Downturns
22:13 Investor Restrictions and Global RWA Access
26:13 How Plume Competes With Traditional Finance
32:57 Key RWA Trends Over the Next 2–3 Years
34:48 Beyond Tokenization: Onchain Derivatives and Portfolios
38:31 Plume’s Push for a U.S. Broker-Dealer License

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This episode features a public Binance Space with co-CEOs Yi He and Richard Teng, alongside Chief Security Officer Jimmy Xu, addressing the major security breach on October 30. According to Binance, attackers compromised an internal wallet-signing service and bypassed normal withdrawal procedures to steal approximately $6.34 billion in crypto assets. At the time of the discussion, around $2.85 billion had reportedly been frozen or intercepted. Binance says it will cover all losses, has replenished roughly 98% of the affected token balances, and has fully resumed withdrawals, with no shortfall in customer funds.
Jimmy explains how the attackers allegedly used fake job postings and technical interviews to trick an engineer into running malicious code on a work computer, ultimately gaining access to internal systems. The attackers also exploited onchain authorization mechanisms to continue moving funds even after Binance suspended withdrawals. Binance believes the attack involved a state-sponsored hacking group and says its security team has blocked 57 suspected North Korean cyberattacks in 2026.
Yi He says she pushed for greater transparency about the incident despite internal concerns that disclosing technical details could introduce additional security risks. Binance plans to rebuild the affected wallet infrastructure, strengthen internal system isolation, and bring in independent security reviews. Looking ahead, Yi He argues that the crypto industry needs to focus more on real-world utility and sustainable business models, highlighting tokenized real-world assets (RWAs), equity perpetual futures, and the convergence of crypto and traditional finance as key areas of growth.
The figures, attack attribution, asset recovery claims, and security measures described above are primarily based on public statements by Binance executives and should not be taken as independently verified findings.
Timeline:
00:00 Binance Leadership Addresses the $6.3B Hack
01:17 Richard Teng on the Exploit, Frozen Funds, and Reimbursement
03:27 Yi He on Binance's Initial Response to the Attack
07:58 Why Binance Was Targeted by Suspected State-Sponsored Hackers
08:53 Are Customer Funds Safe? Binance Says 98% Has Been Replenished
10:56 Why Binance's Withdrawal Freeze Was Different From FTX
12:08 How a Fake Job Interview Compromised an Engineer's Laptop
14:01 Binance Says It Blocked 57 Suspected North Korean Cyberattacks
15:15 Why Suspending Withdrawals Couldn't Stop the Attack
16:45 AI as Both a Cybersecurity Threat and Defense Tool
18:23 Why Yi He Pushed to Disclose Details of the Exploit
21:57 Rebuilding Wallet Infrastructure and Strengthening Security
26:47 Yi He on Binance's Future: RWAs and Equity Perpetuals

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In this episode of the WuBlockchain Podcast, we speak with Luuk Strijers, Coinbase Head of Exchanges and former Deribit CEO, about the Coinbase–Deribit integration, trading infrastructure upgrades, derivatives expansion, and institutional market activity.
Luuk discusses how Coinbase's global reach and regulatory infrastructure are helping Deribit expand. The upgraded matching engine delivers a 50–60x speed improvement, with median round-trip latency of around 75 microseconds, though the acquisition has also slowed some decision-making. He also covers the expansion into perpetual futures tied to equities, commodities, and pre-IPO assets, noting that pre-IPO perpetuals have seen weaker-than-expected demand.
With limited new capital flowing into crypto options, Coinbase is focused on improving capital efficiency by enabling clients to use assets held in custody for derivatives trading and expanding access to U.S. markets. Luuk also discusses institutional versus retail options trading, competitive pressures, and market positioning, which suggests a modest bullish bias but no strong directional consensus.
Timeline:
00:00 Introduction: Luuk’s role at Coinbase and Deribit
00:41 Why did Deribit agree to the Coinbase acquisition?
02:41 Key milestones in the Coinbase–Deribit integration
05:03 Deribit’s trading volume and business performance
07:53 Will Deribit retain operational autonomy?
09:48 How is Deribit’s core business performing?
11:13 Derivatives available to U.S. traders
12:28 Changes in management and decision-making
15:35 Expanding into equity, commodity, and pre-IPO perpetuals
18:48 Matching engine upgrade: 50–60x faster
21:50 Challenges in the Coinbase–Deribit integration
24:06 Institutional trading activity and market recovery
26:26 Where is new capital entering crypto options coming from?
28:38 Institutional vs. retail options trading
32:16 Competing with lower-fee exchanges
35:44 Crypto market outlook for the next 6–12 months

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This episode features a public talk by OKX founder and CEO Star Xu at OKX NOW, the company's global product and ecosystem conference. Xu explores how the internet, crypto, and AI are converging to reshape financial services — from payments and investing to wealth management.
He argues that the line between crypto and traditional finance will continue to blur, combining crypto's 24/7 markets, programmable money, global settlement, and self-custody with the liquidity and infrastructure of traditional finance. AI could accelerate that shift by transforming everything from software development and compliance to personalized financial services. In the future, Xu envisions AI agents that understand an individual's assets, risk preferences, and financial goals — potentially bringing private-banking-style services to a much broader audience.
Timeline:
00:00 The Convergence of the Internet, Crypto, and AI
01:35 Why Financial Infrastructure Still Lags Behind the Internet
02:25 Why Cross-Border Payments Remain Expensive
03:20 From Early Experiment to Mainstream Finance: Crypto's Evolution
04:57 From Crypto Exchanges to Broader Financial Services
06:15 Four Trends Shaping the Next Generation of Finance
07:20 Could AI Give Everyone a "Private Banker"?
08:05 Why Global Finance Still Needs Regulation and Trust
09:21 Crypto and TradFi Are Moving Toward Convergence
10:55 How AI Could Change Financial Institutions
11:30 How AI Is Already Changing Software Development
12:15 AI in Customer Service, Fraud Prevention, and Compliance
13:46 AI Is Moving From Concept to Large-Scale Adoption
14:30 How the Internet, Crypto, and AI Could Reshape Finance
15:35 From Payments and Investing to AI-Powered Wealth Management

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This episode features a public talk by Ethereum co-founder Vitalik Buterin at OKX NOW, OKX's global product and ecosystem conference themed "The Future Is Now." Vitalik explores how AI could reshape blockchain, privacy, and security. As zero-knowledge proofs and other cryptographic tools mature, he sees blockchains evolving beyond "programmable assets" toward "programmable data" — allowing users to prove facts without revealing the underlying information, a capability that could become increasingly important in the AI era.
Vitalik also sees AI becoming a new interface for blockchain. Instead of relying on traditional apps, users could ask AI agents to write scripts and execute on-chain actions directly. But this creates new risks, from prompt injection to AI misinterpreting user intent. Looking ahead, he expects Ethereum to become cheaper and more private, with bots and AI agents playing a much larger role in how people interact on-chain — while security increasingly extends from software all the way down to hardware.

Timeline:
00:00 AI: The Biggest Opportunity and Risk
01:20 From Programmable Assets to Programmable Data
02:35 Why Privacy Matters More in the AI Era
03:59 AI, Cyberattacks, and Software Vulnerabilities
05:30 Can AI Make Blockchain More Secure?
07:28 AI as the New User Interface
08:20 The Risks of AI Agents On-Chain
10:55 What Will Ethereum Look Like in Two Years?
12:15 When Apps and Counterparties Become Bots
14:18 "Not Your Silicon, Not Your Keys"
15:10 Blockchain at the Frontier of Security and Privacy

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