Episode Details

On this episode of CoinDesk's Public Keys from the New York Stock Exchange, host Jennifer Sanasie is joined by Ben Spiegelman, Head of Institutional at Base, to break down Coinbase's newly launched tokenized stocks. Zach Pandl, Head of Research at Grayscale, unpacks the debut of the first-ever Zcash ETF. Plus, Solstice CEO Ben Nadareski explains strcUSX, a Solana-based product that splits the economics of Strategy's STRC preferred into senior and junior tranches.

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Chapters/Timecodes:

00:00 Welcome to Public Keys

00:24 Coinbase Brings Tokenized Stocks to Base

00:44 Base's Ben Spiegelman Joins Public Keys

01:02 What Makes Coinbase's Tokenized Stocks Different

03:26 The Killer DeFi Use Case: Borrowing Against Your Stocks

04:11 The CLARITY Act and a Future US Launch

05:24 Trading, Financing, and Payments on Base

07:04 What Still Gives Institutions Pause On-Chain

09:15 ETF Flows: Bitcoin and Ether Cool After a Record August

10:04 Grayscale's Zach Pandl on a Healing Crypto Market

11:13 What Happens If the CLARITY Act Doesn't Pass

12:18 'Recktember' and the Q4 Bitcoin Outlook

13:42 The First-Ever Zcash ETF and the Privacy Thesis

15:47 Scarcity vs. Privacy: What's Driving Zcash

17:10 Institutional vs. Retail Demand for the Zcash ETF

19:04 Solstice's Ben Nadareski and Strategy's STRC on Solana

20:38 Inside strcUSX: Senior and Junior Tranches

21:40 Building on Strategy's Platform

23:19 Why Solstice Built on Solana

25:30 The Institutional DeFi Adoption Curve