Mike Belshe founded BitGo—the crypto financial services and custody firm—in 2013 with the original intention to help solve a pinpoint he identified when entering the bitcoin market early on: how to store crypto holdings safely. "We forget about how easy loss is", said Belshe. Today BitGo is more wide-spanning than just storage and custody, also covering lending, trading, and prime-related financial services. The firm is expected to complete its acquisition by Mike Novogratz's Galaxy Digital by end of 2021, creating an operation the two Mikes hope will bridge the crypto world with Wall Street. On this episode of The Scoop, Mike Belshe CEO of BitGo joined host Frank Chaparro to talk about that deal between BitGo and Galaxy, BitGo's origin story, and why regulators should embrace the openness of the blockchain.  In Belshe's view, regulators—including Gary Gensler of the Securities and Exchange Commission—should actually lean into using blockchain to identify nefarious behavior, and say "wait a minute we have this huge tool, let's use that." In the event that the agency deems most cryptocurrencies as securities—a scenario Belshe said was unlikely—Belshe noted that regulators would lock out the US from the market's innovation. Episode 57 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Mike Belshe, CEO at BitGo. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Bakkt, Kraken, and Exodus Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.   Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.   Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.  

OpenSea's Devin Finzer is just as surprised as anyone to see non-fungible tokens (NFTs) taking off this summer. “None of us expected to hit a billion in transaction volume this month,” said Finzer, describing what he views as "the biggest economy in the history of the internet." During this episode of The Scoop, OpenSea co-founder and CEO Devin Finzer joined host Frank Chaparro for a discussion on NFT’s, the metaverse, and OpenSea’s most recent completed fundraise. OpenSea recently raised $100 million from VC majors such as A16z as well as angel investors like Michael Ovitz and Ashton Kutcher, setting the NFT marketplace valuation at a $1.5 billion value. The company's focus on building a marketplace appeared to bear fruit based on the NFT volume in August for OpenSea.  With fresh capital in hand, OpenSea is planning on retooling its systems to make it easier for the public to gain access to the marketplace. Finzer spoke with The Scoop about how OpenSea is improving gateways for the public to purchase NFT’s with a credit card and how the team is working with partners to lower fees for minting, selling and buying. He also touched on how this also includes expanding their blockchain partnerships with layer-1 and layer-2 scaling solutions, such as their recent Polygon integration.  Finzer further discussed the Metaverse application of NFT’s as brands begin to buy into virtual worlds, such as Decentraland, in what the startup believes will become the stage for this new economy. “Long term we think NFT’s will be used for all sorts of creative things, across gaming, art collectibles, event tickets, real world items," said Finzer. Episode 50 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Devin Finzer, co-founder & CEO at OpenSea. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Eventus, Kraken, and Exodus Eventus is the leading global provider of multi-asset class trade surveillance, transaction monitoring and market risk solutions. Eventus offers a powerful, award-winning trade surveillance platform that is easy to deploy, customize and operate. Eventus is proven in the most complex, high-volume and real-time environments and supports many of the industry’s leading crypto exchanges including Coinbase, Gemini, ErisX and OSL. The company’s rapidly growing client base relies on Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.   Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.   Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.

Anthony Scaramucci — the New York financier and former White House official — first jumped into the crypto fray at the end of last year.  Now, Scaramucci is going all in.  During the latest episode of The Scoop, the Skybridge Capital founder walks listeners through his journey to bitcoin. Skybridge first began investing in BTC at the end of last year.  "We have a full commitment to crypto," he remarked. Since then, Skybridge has thrown its hat in the bitcoin exchange-traded product ring and also plans to launch an ETF that has exposure to publicly traded cryptocurrency companies. Indeed, Skybridge is one of a number of U.S. companies vying to go to market with a bitcoin ETF. But the Securities and Exchange Commission has yet to give the nod to such a product, and the proposed ETF that's furthest along in the process — put forward by asset management company VanEck — is now the subject of an additional comment period. Other companies, like NYDIG, Fidelity and Cathie Wood's ARK Invest, are among those pursuing bitcoin ETF launches. Skybridge also has plans to launch a private Ethereum fund. "July 1st, we're launching a private Ethereum fund. We’ll then file for an ETF for Ethereum. Again, it is anybody's guess when those things will be going," he said. Scaramucci went on to say: "I can say — which is public information — that we did file for an ETF related to Bitcoin. We also have a UIT with a company out of Wheaton, Illinois, called First Trust… as we're speaking, we're making an announcement on an ETF for a digital innovation fund that has some great publicly traded assets that we think are geared related to [Ethereum], related to Bitcoin, but also the other coins." Scaramucci believes he can lean on his Wall Street chops for product adoption. He cited Morgan Stanley’s buy-in to SkyBridge’s digital asset portfolio as another example of Wall Street’s appetite for Bitcoin. “Morgan Stanley is a very big part of our business." Episode 36 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and SkyBridge Capital's Anthony Scaramucci. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Eventus, Kraken, and Exodus Eventus is the leading global provider of multi-asset class trade surveillance, transaction monitoring and market risk solutions. Eventus offers a powerful, award-winning trade surveillance platform that is easy to deploy, customize and operate. Eventus is proven in the most complex, high-volume and real-time environments and supports many of the industry’s leading crypto exchanges including Coinbase, Gemini, ErisX and OSL. The company’s rapidly growing client base relies on Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface. Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.  Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go. 

On this week's episode of The Scoop, Cermak explained out how The Block first picked up on the biggest Twitter hack in history, and what the early hours of information gathering looked like. He also touched on: The details that indicate the hack was either unplanned or executed by amateurs What a front page BTC scam means for bitcoin adoption The debate over Coinbase's move to block the addresses at the height of the hack Where the stolen funds are now

Last week, saw a deluge of prime brokerage news, capped off by Coinbase's announcement of its acquisition of crypto broker Tagomi. After months of rumors surrounding the two-year-old firm, the deal became one of Coinbase's biggest acquisitions in a move to fill out its institutional business of trading and custody services.  With the deal inked, Coinbase is one step closer to becoming a full-scale prime broker. This week's episode features Su Zhu, crypto investor, market commentator and founder of crypto investing firm Three Arrows Capital — an early client of Tagomi.  Zhu unpacked his thoughts on the recent deal, touching on some pain points, including the importance of neutrality in the prime brokerage world. The Coinbase deal leaves room for possible conflicts of interest, according to Zhu.  The episode also explores: Why Tagomi's neutrality as a prime broker could be questioned under Coinbase's ownership The headwinds and tailwinds facing DCG's Genesis Trading and BitGo as they build out similar offerings The type of trading strategies and opportunities a full-scale prime broker open up for crypto investors like Three Arrows The reasons why Tether dominates Asian liquidity and doesn't have to worry about rivals taking its crown How Binance messed up delisting FTX's leverage product, and how it speaks to a broader existential issue at the exchange This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!

After a gloomy March and a proverbially rainy April, May has shaped up to be a – dare one say it – positive market from a macro market perspective. Despite the ongoing tragedy of the global coronavirus pandemic, investors appear to be buying. The S&P 500 broke 3,000 for the first time in March and the Dow is up broadly on positive sentiment that efforts to reopen businesses in the U.S. – all in the hopes of coaxing back consumers – will be successful. Yet despite the sense of optimism, analysts hesitate to call it a clear win, given the risks that remain. The Block sat down with John Stein, co-founder of robo advisor firm Betterment, who spoke about the macroeconomic picture in the context of his firm’s clients. Stein remarked that while the first quarter of 2020 was a strong one for signups – April even more so – the company has nonetheless felt the pinch amid difficult market conditions. “Our revenue is tied to assets under management. We see our pain, our own accounts are down. You know, my personal account is affected by a downturn in the market. And our customers feel that.” he told The Block. “But overall, our customers are staying the course.” We also explore: How Betterment has fared in a world where remote work is the rule, not the exception The ways in which the firm’s customer base reacted to this year’s market turbulence How the first quarter of 2020 was one of Betterment’s best Its checking account product Staying competitive in a hyper-fast space where all eyes are on the market This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!

It’s been an interesting time for the stablecoin market. Total stablecoin issuance recently surpassed $10 billion, according to data compiled by The Block Research. Meanwhile, the discussion of Facebook’s Libra has taken on interesting new dimensions of late. Lex Sokolin, a former research analyst and the current global co-head of fintech at Consensys, has been paying close attention to these developments. In this episode of The Scoop, which was recorded prior to the Libra Association announcement of its new CEO, we dive into its shift to a multi-currency model. We also dig into: Whether Libra’s massive network and cash pile will suck the life out of other open-source initiatives Why a regulated approach to digital assets might have an easier time surviving and thriving Is the stablecoin market overhyped right now? How developments in the fintech ecosystem may have an impact on business models in the cryptocurrency market This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today! This episode was also brought to you by PAX Gold, the world’s only regulated gold token. It’s the fastest and easiest way to own and trade the highest-quality physical gold. One PAX Gold token represents one fine troy ounce of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults in London. When you buy PAX Gold, you own physical gold.   The value of PAX Gold is always tied directly to the real-time market value of gold.PAXG is an ERC-20 token on Ethereum, and can easily be moved or traded anywhere in the world, 24/7. With PAXG, anyone can now own a fraction of an LBMA-accredited London Good Delivery gold bar with zero storage fees. Trade it today on leading exchanges like Kraken, FTX and itBit. Or, earn interest on your PAX Gold holdings through Nexo or Crypto.com. Learn more or purchase PAX Gold at paxos.com/paxgold

The cryptocurrency market continues to exhibit signs of volatility. As such, Genesis Global Trading – an institutional over-the-counter cryptocurrency trading and lending firm – decided to hit the pause button on credit extension amidst the coronavirus-tied market chaos.  Recently, Genesis has started to extend credit on a client-by-client basis but is acting gingerly in the market it helped pioneer – at least for a few weeks to figure out where the crypto credit market stands. Moreover, while Genesis pulls back, its rivals have been willing to give out loans at significantly reduced collateral.  In this episode of the Scoop, Genesis CEO Michael Moro discusses the firm's rationale behind these critical decisions, a recent phone call it received from its regulator FINRA, and how the need for employees to work remotely has impacted its business.  Episode 11 of Season 2 of The Scoop was recorded remotely with Frank Chaparro, Ryan Todd and Michael Moro, CEO at of Genesis Global Trading and Genesis Capital. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com

As markets whipsaw amidst uncertainty surrounding the economic and health impacts of the coronavirus, the pipes and plumbing of our financial system, for the most part, has held up. That is even as legions of bankers, traders, and financial services professionals are forced to hunker down in their homes. Last week, there was one exception, however. A reported ransomeware issue at a little-known payments processor caused headaches across mid-sized banks across the country, making it difficult for certain Fedwire wires to execute. Silvergate, which banks for more than 800 cryptocurrency firms, was one of the firms that had issues with inbound Fedwire transfers. In this episode of The Scoop, Silvergate CEO walks us through the outage, the underpinning of banking and the Fedwire, and the firm's plans for 2020.

State Street, one of the largest custody banks in the world, has yet to launch a service to store crypto assets but that doesn't mean it is actively involved in the digital asset market. Leading the charge is Jay Biancamano, Managing Director of digital product development and innovation at the firm. Biancamano has had his finger on the pulse of all things market structure, having previously worked at trading technology firms like ITG, Liquidnet, and Fidessa. So he has seen the shift to electronic trading take place in U.S. equities. On this episode of The Scoop, Biancamano and The Block's Frank Chaparro explore how the digitization of assets will transform the trading landscape. In this episode we look at State Street's partnership with Gemini on cryptocurrency trade reporting The five key trends to watch has markets shift from electronic to digital The relevance of the Morgan Stanley/E*Trade deal to the crypto market Why stocks aren't going to tokenize as soon as some pundits might think  Episode 8 of Season 2 of The Scoop was recorded at The Block offices with Frank Chaparro and Jay Biancamano, Managing Director at State Street. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com

Leo Zhang is Principal at Iterative Capital Management, an investment manager, cryptocurrency miner, and wholesale dealer. In this episode Leo joins Frank Chaparro and Matteo Liebowitz to discuss: The unseen impact Bitcoin miners have on the overall market The initial public offering of mining firm Canaan and new entrants to the market, like Layer1 The significance of rainy season in China and it's importance to mining ecosystem Leo's take on upcoming halvening and it's impact on the entire Bitcoin ecosystem Why Bitcoin on / off ramps are a main focus for Iterative Capital's investment strategy

Listen to a preview of next week's The Scoop episode where Frank chats with Mike Novogratz, the Founder, CEO and Chairman at Galaxy Digital.

Listen to a preview of this week's The Scoop episode where Frank and Ryan discuss technology adoption, blockchain, and cryptocurrencies at Goldman Sachs with Marty Chavez, Global Co-Head of Securities.

Alex Adelman is CEO and Co-Founder of Lolli, which is a rewards application that gives you bitcoin when you shop at your favorite stores. Frank Chaparro and Steven Zheng discuss e-commerce and crypto, the power of memes in regards to marketing Lolli in the spacehow the firm lures Fortune 500 companies to it’s platform and why it could one day offer services like lending and possibly a credit card.

A clip from next week's The Scoop episode with Kristin Smith, Director of External Affairs at the Blockchain Association. Frank Chaparro, Ryan Todd and Kristin Smith discuss the implications of the recent case against Kik.  Subscribe and listen to the entire episode next Tuesday.

Frank Chaparro introduces The Block's new podcast, The Scoop, with a clip from the first episode, featuring Mike Bodson of DTCC.  Catch an all-new episode of The Scoop every Tuesday. Subscribe now to get all future episodes straight to your device.