
The DeFi Decoded Podcast
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The DeFi Decoded Podcast
@defidecodedpod
Co-Hosts: @alextapscott & @AndrewY_SX. Market commentary and conversations with top founders, investors, and industry leaders in crypto.




New @defidecodedpod is out! Why did Chicago trading firms embrace crypto years before Wall Street banks? Was it the entrepreneurial culture of the rough and tumble trading pits or something else? I sat down with @Aryonchain and @mcasto_ of @CMT_Digital to explore how CMT evolved from a trading firm into a leader across venture, DeFi, stablecoins, tokenized RWAs, onchain lending, vaults, and more. A wide-ranging conversation. Check it out!

Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook

Incumbents have a choice: defend yesterday’s moat or build tomorrow’s markets. Goldman Sachs has calculated that CLARITY can be a boon for financial innovators willing to embrace blockchain and crypto. Time for others to get on board. Let’s pass CLARITY now.

The industry spent years asking Washington to engage. Now Washington is engaging and the interesting question is what the industry does with it. Robert Harrington of Cantor puts it to @stevie_satoshi of @binanceUS, @alextapscott of @CMCC_Global, @perkinscr97 of @FTDA_US, and @lesborsai of @wavedigital_.





Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook

Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook

Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook

Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook

New DeFi Decoded is out! I sit down with @AMangiero, Chief Strategy Officer and Head of Policy at @crypto_council. We're closer than ever to CLARITY becoming law, but the fight is far from over. The banking lobby wants regulation that protects incumbents and raises barriers for new entrants. Alison and her team are advocating for rules that protect consumers and promote innovation. Who will win the argument? You won't want to miss this one.

Episode 243: Crypto for Me, But Not for Thee? Why the Bank Lobby Wants to Neuter Crypto Regulations with Alison Mangiero of Crypto Council for Innovation @alextapscott @AMangiero @crypto_council @CMCC_Global 0:00 Introduction 3:25 Guest intro: Alison Mangiero and CCI 4:00 How CCI engages with lawmakers 5:15 How Congress’s understanding of crypto has evolved 7:00 Where CLARITY stands today 9:30 August recess deadline and Senate timing 10:55 Why banks are pushing back 12:00 Stablecoin rewards, staking, and bank interest 13:45 Consumer choice and competition 15:40 Why regulation supports consumer protection 16:55 CCI’s members and the TradFi/crypto convergence 19:15 Why passing laws is only the start 22:15 Politics, midterms, and timing risk 23:30 What the CLARITY Act actually does 25:10 Why market structure matters for institutions 29:00 Digital asset fundraising and “Reg Crypto” 33:15 The digital asset tax debate 36:00 What could happen over the next six months 37:10 Odds of CLARITY passing and closing outlook


Episode 242: The Journey From Crypto Market Maker to Financial Powerhouse with Joshua Riezman of GSR @alextapscott @JoshR_GSR @GSR_io @CMCC_Global 0:00 Introduction 3:15 Guest intro: Josh Riezman and GSR’s evolution 3:30 From OTC trading to crypto market making 5:00 Why liquidity matters for token networks 6:30 GSR’s move into venture, advisory, and capital markets 8:15 What clients are asking for today 9:00 Stablecoins, asset management, and treasury strategies 11:45 RWAs and the tokenization wave 13:45 Building a global crypto-native financial institution 15:45 Where GSR sees value in tokenized assets 18:40 Crypto-native infrastructure vs traditional Wall Street firms 21:00 Investment banking, client relationships, and market making 25:00 Global regulation and the end of “unregulated crypto” 29:00 On-chain capital formation and new fundraising models 31:30 Tokenized equity, global liquidity, and market access 34:30 Programmatic distribution and fairer IPO mechanics 36:00 AI IPOs, private markets, and why tokenization hasn’t taken over yet 37:20 SpaceX, Hyperliquid, and on-chain price discovery 39:40 Closing thoughts

Episode 242: The Journey From Crypto Market Maker to Financial Powerhouse with Joshua Riezman of GSR @alextapscott @JoshR_GSR @GSR_io @CMCC_Global 0:00 Introduction 3:15 Guest intro: Josh Riezman and GSR’s evolution 3:30 From OTC trading to crypto market making 5:00 Why liquidity matters for token networks 6:30 GSR’s move into venture, advisory, and capital markets 8:15 What clients are asking for today 9:00 Stablecoins, asset management, and treasury strategies 11:45 RWAs and the tokenization wave 13:45 Building a global crypto-native financial institution 15:45 Where GSR sees value in tokenized assets 18:40 Crypto-native infrastructure vs traditional Wall Street firms 21:00 Investment banking, client relationships, and market making 25:00 Global regulation and the end of “unregulated crypto” 29:00 On-chain capital formation and new fundraising models 31:30 Tokenized equity, global liquidity, and market access 34:30 Programmatic distribution and fairer IPO mechanics 36:00 AI IPOs, private markets, and why tokenization hasn’t taken over yet 37:20 SpaceX, Hyperliquid, and on-chain price discovery 39:40 Closing thoughts

Episode 242: The Journey From Crypto Market Maker to Financial Powerhouse with Joshua Riezman of GSR @alextapscott @JoshR_GSR @GSR_io @CMCC_Global 0:00 Introduction 3:15 Guest intro: Josh Riezman and GSR’s evolution 3:30 From OTC trading to crypto market making 5:00 Why liquidity matters for token networks 6:30 GSR’s move into venture, advisory, and capital markets 8:15 What clients are asking for today 9:00 Stablecoins, asset management, and treasury strategies 11:45 RWAs and the tokenization wave 13:45 Building a global crypto-native financial institution 15:45 Where GSR sees value in tokenized assets 18:40 Crypto-native infrastructure vs traditional Wall Street firms 21:00 Investment banking, client relationships, and market making 25:00 Global regulation and the end of “unregulated crypto” 29:00 On-chain capital formation and new fundraising models 31:30 Tokenized equity, global liquidity, and market access 34:30 Programmatic distribution and fairer IPO mechanics 36:00 AI IPOs, private markets, and why tokenization hasn’t taken over yet 37:20 SpaceX, Hyperliquid, and on-chain price discovery 39:40 Closing thoughts
