Author: CoinDesk

Financial advisors in the US control $8 trillion in assets. Here’s why 77% are waiting for spot Bitcoin ETFs.

According to surveys of financial advisors, only 12% are currently recommending that clients invest in Bitcoin, while 47% of advisors personally own Bitcoin and a whopping 77% say they are waiting for a spot Bitcoin ETF to become available so they can offer it to their clients. 

On this episode of Unchained, Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” explains how this should all lead to high demand once the first spot Bitcoin ETFs become available, although it will take some time for them to allocate. Edelman also discusses how FTX’s implosion impacted advisor perceptions of crypto, why investors have not been that excited by crypto futures ETFs, and which Bitcoin ETF issuers he believes are likely to be the big winners.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights | 

• How regulatory confusion keeps financial advisors away from recommending Bitcoin to their clients
• How the collapse of FTX affected financial advisors’ interest in crypto, according to Ric
• How the knowledge level of financial advisors about Bitcoin is "extraordinarily low"
• Why 77% of investment advisors are willing to buy a spot Bitcoin ETF
• Why there wasn't a huge interest from advisors after the launch of Bitcoin futures ETFs
• The percentage of client portfolios that he expects they will allocate to BTC
• Why Ric thinks there won't be huge inflows immediately after the approval of spot BTC ETFs
• How financial advisors will decide whose ETF to buy, among the 12 potential issuers
• Why he believes spot Ethereum ETFs have great growth potential
• Why he thinks tokenization might be the "next big thing" that will increase institutional activity

Take the Unchained 2023 survey!

Unchained is doing its annual survey. Let us know what we’re doing well, how we can improve, what you’d like to see more of, and generally, how we can serve you better. The survey also helps us find sponsors whose products and services would appeal to you. Plus, participating gives you an opportunity to win Unchained merch! Five randomly selected respondents will receive one free Unchained t-shirt or mug — your choice. Click here to participate. Thanks so much!

Thank you to our sponsors!  LayerZero  | Popcorn Network

Guest | 

Ric Edelman, Founder of the Digital Assets Council of Financial Professionals

Previous appearance on Unchained: Financial Advisors Control $5 Trillion in Investor Wealth. Are They Buying Bitcoin?

Links | 

Previous coverage on spot Bitcoin ETFs:

How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection

Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10

Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF

The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF

Unchained: 

BlackRock Files for Spot Ethereum ETF

The Bitcoin ETF Is a Double-Edged Sword

Bitcoin ETFs Explained: What Are They & How Do They Work?

CoinDesk: BlackRock Bitcoin ETF in August Got on DTCC Site That Just Belatedly Moved Markets

-

Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

At CoinDesk’s State of Crypto event in Washington, DC. Senators Gillibrand and Lummis discuss their bold comprehensive regulation bill aiming to unify all crypto interests under 'one tent.’ The conversation touches on the current legislative progress and the consequential impact on crypto innovation.

This episode is sponsored by CME Group and PayPal.

In this week's episode of "Money Reimagined," amid our Thanksgiving week programming, we present a unique recording – host Michael Casey with an on-stage interview at CoinDesk's State of Crypto event in Washington DC last month with Senators Kirsten Gillibrand of New York and Cynthia Lummis of Wyoming. As co-sponsors of a crucial bill (Lummis-Gillibrand Responsible Financial Innovation Act) to overhaul crypto regulation, their insights offer a timely and significant perspective amidst the ongoing drama and turmoil in Congress, particularly on the day of the interview, coinciding with the House's vote on a nomination for speaker.

Links | 

CoinDesk's State of Crypto 

Unpacking the Latest Lummis-Gillibrand Bill Draft

Lummis, Gillibrand Reintroduce Comprehensive Legislation To Create Regulatory Framework For Crypto Assets - Kirsten Gillibrand | U.S. Senator for New York

 -

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for

bitcoin and ether trading. Participate in The Crypto Classic: Cryptocurrency Futures and Options

Trading Challenge from Dec. 10-15 for the chance to win cash prizes. Compete against your

peers while test-driving strategies for Bitcoin and Ether futures and options trading in a risk-free

simulated environment. 

Visit https://www.cmegroup.com/cryptoclassic to find out more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S Treasuries, and similar cash equivalents. Buy, sell, hold, and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get Started now at paypal.com/pyusd

-

Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “The News Tonight ” by Shimmer. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores Binance, Kraken, U.S. recessions and more.

Today's episode is sponsored by CME Group and PayPal.

To get the show every day, follow the podcast here.

Today’s Stories:

Kraken Accused by SEC of Operating Unregistered Platform, Improperly Mixing Customer Funds 

Binance in Talks to Pay More Than $4B to End U.S. Criminal Case; CZ Could Still Face Charges: Bloomberg 

-

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On this episode of "Gen C," we dive into the current gaming landscape with Daniel Paez, vice president and executive producer of the Immutable digital trading card game Gods Unchained.

Today's episode is sponsored by Chainalysis.

This week, Avery and Sam interview Daniel Paez, the VP and Executive Producer of Gods Unchained, a successful digital trading card game from Immutable. Daniel shares insights from his experience in traditional gaming at places like Blizzard and discusses the state of Web3 gaming today, including how to build sustainable games and a potentially hot take on why ownership matters less to gamers than we think.

Links mentioned from the podcast: 

• Disney To Launch NFT Platform With Dapper Labs Featuring Pixar and Star Wars
• Daniel on Twitter
• Gods Unchained Website

Follow us on Twitter: 

• Sam Ewen, Avery Akkineni, CoinDesk, Vayner3

-

From our sponsor:

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com.

-

"Gen C" features hosts Sam Ewen and Avery Akkineni, with editing by Jonas Huck. Executive produced by Jared Schwartz and produced by Uyen Truong. Our theme music is "1882” by omgkirby x Channel Tres with editing by Doc Blust. Artwork by Nicole Marie Rincon.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores crypto moves, Argentina, Worldcoin and a surprise announcement about CoinDesk.

Today's episode is sponsored by CME Group and PayPal.

To get the show every day, follow the podcast here.

Today’s Stories:

OpenAI Ousts Sam Altman From CEO and Board Roles; Worldcoin Drops 12% 

Javier Milei Wins Argentine Presidency; Bitcoin Gains Nearly 3% 

Crypto Exchange Bullish Completes Purchase of CoinDesk: WSJ 

Fidelity Wants to Create an Ether ETF, Joining BlackRock in Doubling Down on Crypto 

-

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

"If the broker rule proceeds as is, it will surely spell the near-total collapse of the crypto industry in the United States," writes Blockchain Association CEO Kristin Smith and DeFi Education Fund CEO Miller Whitehouse-Levine.

Today's episode is sponsored by CME Group and PayPal.

To get the show every day, follow the podcast here.

Today’s featured story is an opinion piece from Kristin Smith and Miller Whitehouse-Levine, titled: “Congress Gets the Runaround From Regulators, Again,” written as part of Consensus Magazine's Tax Week.

-

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CoinDesk Indices presents six notable market movement highlights from last week.

Today's episode is sponsored by CME Group and PayPal.

To get the show every day, follow the podcast here.

The CoinDesk Market Index (CMI) functions as a benchmark for the performance of the digital asset market, delivering institutional quality information to digital asset investors. Today’s takeaways are provided by Tracy Stephens, senior index manager of CoinDesk Indices with additional analysis from Todd Groth, head of index research at CoinDesk Indices. For more on the CMI you can visit: http://coindeskmarkets.com/.

-

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Coin Center’s Peter Van Valkenburgh believes that the U.S. Treasury could use the Bank Secrecy Act in a dark way against crypto developers. 

In this episode of Unchained, Peter Van Valkenburgh, director of research at Coin Center, explains why the IRS's proposed broker rule for tax reporting in crypto could harm the crypto industry as well as the security and privacy of users. He explains how Coin Center thinks the IRS should accomplish its aims, and why that would even work for collecting taxes on DeFi gains. 

Additionally, Peter explains why he believes the Bank Secrecy Act might be unconstitutional and how that could potentially affect developers building in crypto. 

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights | 

• What does the IRS's proposed broker rule entail for crypto tax reporting and why this could  have a negative impact on the industry
• What responsibilities do brokers in the crypto space now face
• Why the IRS didn’t use Congress's amended language from the infrastructure bill
• Why Peter argues that the IRS’s new proposed broker rule on crypto is unconstitutional and the principles at stake
• The alternative approaches Peter suggests the IRS could adopt for more effective and fair regulation
• Why Peter has concerns for crypto developers about the potential application of the Bank Secrecy Act
• What actions Coin Center is undertaking to advocate for changes in the Bank Secrecy Act to better align with crypto realities
• Why Coin Center is appealing in its lawsuit against the Treasury Department over the OFAC sanctions on Tornado Cash

Thank you to our sponsors!  Arbitrum Foundation Popcorn Network

Guest |

Peter Van Valkenburgh, director of research at Coin Center

Previous appearances on Unchained: 

Why the SEC Is Probing Yuga Labs and Coin Center Is Suing Treasury

How Coin Center Is Helping Define The 'Big Fuzzy Gray Area' Of Blockchain And Cryptocurrency Law

Why the SEC's Proposed Rules Affecting DeFi Could Violate the First Amendment

Links | 

IRS Crypto Regulation

Coin Center: Report Electronic Cash, Decentralized Exchange, and the Constitution

The Blockchain Association’s letter opposing tax regulations proposed by the IRS

CoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker Rule

Patriot Act 

California Bankers Assn. v. Shultz

Bank Secrecy Act

Coin Center:

Report Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act

Tornado Cash

Coin Center:

U.S. Treasury sanction of privacy tools places sweeping restrictions on all Americans

Coin Center is suing OFAC over its Tornado Cash sanction

Denial of Coin Center’s motion in its case against the US Treasury over OFAC sanctions

-

Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores consumer signals, energy prices, market moves, ETF comparisons and more.

Today's episode is sponsored by CME Group and PayPal.

To get the show every day, follow the podcast here.

Today’s Stories:

A Physical Dogecoin Could Reach the Moon in December 

(WMT) Walmart Lifts Profit Outlook, Stays Cautious on US Consumers - Bloomberg 

Target (TGT) Profit Blows Past Expectations Amid Leaner Inventories - Bloomberg 

Home Depot (HD) Narrows Guidance for Full Year Profit, Revenue - Bloomberg 

-

From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

An exploration into emerging decentralized networks, the subtle revolution in blockchain utilization, and a comprehensive overview of the latest advancements in Layer 2 developments.

This episode is sponsored by Consensus 2024 

Follow the show here for more.

In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk,  explore the following stories:

• Infura's baby step toward decentralization.

Infura, from the Ethereum developer Consensys, is so dominant it's been cast as a single point of failure. Now it's creating a "decentralized infrastructure network" to help protect against outages – with a "federated" group of partners.

• What are ‘Intents’?

Intent-centric programs are quietly transforming how we use blockchains, but they bring risks as well as benefits.

PROTOCOL VILLAGE SEGMENT  

• OKX Apes into L2 race PLUS a wrap of L2 developments including:
• Kinto
• Redstone
• Polygon's Ryan Wyatt joining Optimism Foundation in a growth role. "We're going to need a lot of L2s," he told CoinDesk TV.
• Plasma blockchain designs, all the rage after they were first invented in 2017, could come back in vogue after Ethereum co-founder Vitalik Buterin wrote in a blog post-Tuesday that the category "opens the door to very large scalability gains."

EPISODE LINKS |  

Ethereum Platform Infura's Step Toward Decentralization Includes Microsoft, Tencent 

'Intents' Are Blockchain's Big New Buzzword. What are They, And What Are the Risks?

Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology

Blockchain Startup Kinto Plans 'First KYC'd' Ethereum Layer-2 Network After Raising $5M 

Blockchain Developer Lattice Unveils 'Alternative Data Availability' Network for Optimism 

Ex-Polygon Veteran Wyatt Joins Optimism Foundation Unit in Growth Role 

Plasma: Scalable Autonomous Smart Contracts 

Sign Up for THE PROTOCOL NEWSLETTER 

From Our Sponsor: 

CONSENSUS 2024 by Coindesk 

Secure your $109 Developer Pass today and join us in Austin May 29-31 to explore the epicenter of blockchain innovation at Consensus. This is where the top blockchains show off their latest advancements, share their detailed roadmaps, dive deep with technical workshops and forecast the next wave of innovation. Don’t wait! These passes are limited. Learn more and register: https://consensus.coindesk.com/register/developer/

-

The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.