Join host Srikumar Misra as he unpacks the ongoing battle between blockchain analytics and sophisticated crypto criminals with Mriganka Pattnayak, Co-Founder and CEO of Merkle Science.What You'll Learn:👉How North Korea (DPRK) creates fake crypto exchanges to launder funds👉Why criminals adapt faster than detection systems can keep up👉The spectrum of crypto criminals: sophisticated vs. amateur👉Why blockchain transparency isn't enough to stop crime👉Real examples of how pattern detection works (and fails)Full episode at: unhashed.co/mriganka

How do crypto criminals stay ahead of blockchain analytics, and why is Tether on Tron now the $1 billion superhighway for illicit activity? In this episode, Mriganka Pattnaik reveals how Merkle Science tracks crypto crime across 125+ blockchains and why compliance is unlocking crypto's next massive adoption wave.Mriganka Pattnaik is the Co-Founder and CEO of Merkle Science, a $27M-backed blockchain analytics company fighting crypto crime for exchanges, banks, and law enforcement worldwide. From witnessing daily hacks at Singapore's Luno exchange to building predictive AI tools that detect North Korean hackers before they strike, Mriganka's journey shows why compliance infrastructure is crypto's most critical unsexy problem. In this conversation with host Sri Misra, he breaks down why criminals prefer USDT on Tron, how cross-chain bridges enable money laundering, why behavioral analytics catches what traditional monitoring misses, and what the stablecoin regulation wave means for DeFi protocols. He also shares why he moved Merkle Science from Singapore to New York, how public-private collaboration with the FBI actually works, and whether MEV can be used for good. This episode is essential viewing for anyone building in crypto, worried about DeFi security, or trying to understand how blockchain forensics actually works in 2025's regulatory environment.Key Highlights👉How Mriganka Pattnaik built Merkle Science into a Forbes 30 Under 30 blockchain analytics leader monitoring 125+ blockchains👉Why USDT on Tron has become the primary network for crypto criminals and money laundering activity👉How behavioral AI and predictive analytics detect North Korean DPRK hackers before $300M disappears👉The privacy vs security debate, why blockchain monitoring doesn't compromise individual privacy, and what really triggers investigations👉Cross-chain bridges as the new money laundering vector and how criminals exploit multi-chain complexity👉Why New York beat San Francisco for crypto compliance infrastructure and Merkle Science's geographic strategy👉Stablecoin regulation creating massive compliance opportunities and how freeze functions actually work#blockchainanalytics #cryptosecurity #cryptoforensics #DeFicompliance #stablecoinregulation #USDTonTron #cryptocrime #moneylaundering #blockchainsecurity #DPRKhackers #NorthKoreacrypto #crosschainbridges #cryptohacks #behavioralAI #predictiveanalytics #cryptoexchanges #lawenforcementtools #blockchainintelligence #Forbes30Under30 #cryptoregulation #compliancetech #MEVprotection #cryptocompanies #SingaporeCrypto #NewYorkCrypto Disclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

Why Is Building DeFi Infrastructure Harder Than Building Another DEX?

Marcus Hardt, CEO of Balancer Labs, shares his unconventional journey from mechanical engineer to leading one of DeFi's most technically sophisticated protocols. In this conversation with host Srikumar Misra recorded before the November 2025 security incident that affected Balancer V2 pools, Marcus offers candid insights into the challenges of building programmable liquidity infrastructure in a competitive and rapidly evolving space. He discusses the strategic decisions behind weighted pools, multi-token liquidity, and the V3 architecture that simplified pool deployment from weeks to minutes. Marcus breaks down how Balancer positions itself differently from Uniswap and Curve, focusing on flexibility and composability rather than pure trading volume. He explores the technical innovations behind boosted pools integrated with lending markets like Aave, liquidity bootstrapping mechanisms for token launches, and the new concentrated liquidity approach with Reclam. The conversation also touches on revenue models, institutional use cases, and the broader question of whether DeFi infrastructure can achieve sustainability beyond token incentives. This discussion provides a realistic look at the operational challenges, security considerations, and strategic tradeoffs involved in building foundational DeFi infrastructure.Key Highlights:👉Marcus's transition from mechanical engineering to crypto CEO and what it takes to lead technical teams without a dev background👉How Balancer differentiates through weighted pools, programmable liquidity, and platform strategy versus direct competition👉Technical architecture of V3, boosted pools with yield integration, and the simplified deployment process👉Institutional treasury management, DAO liquidity provision, and protocol-owned liquidity use cases👉The challenges of building sustainable DeFi infrastructure and competing in a crowded AMM landscape👉Lessons on managing complexity, maintaining security, and evolving protocol architecture over time
#DeFiInfrastructure #AMM #AutomatedMarketMaker #DeFiProtocols #WeightedPools #BoostedPools #LiquidityBootstrapping #ProgrammableLiquidity #DeFiSecurity #BalancerV3 #ConcentratedLiquidity #YieldBearingTokens #DAOTreasury #ProtocolOwnedLiquidity #DeFiInnovation #CryptoInfrastructure #UniswapAlternative #CurveDEX #InstitutionalDeFi #SmartContractSecurity #CryptoProtocols #BlockchainInfrastructure #Web3Building #DeFiLiquidity #DeFiFoundersDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

Olivier Dang is rewriting the rules of institutional finance. As the force behind Nomura's Laser Digital and COO of KAIO, he's built a $200M tokenization platform that's bringing hedge funds, private credit, and alternative assets on-chain. From convincing a conservative Japanese megabank to embrace crypto to creating institutional-grade DeFi infrastructure, Olivier's journey reveals how traditional finance is quietly adopting blockchain technology. He shared his contrarian takes on CBDCs, the coming stablecoin wars, and why every asset will eventually be tokenized in this candid conversation with host Srikumar Misra. This episode unpacks the strategies behind one of crypto's most successful institutional plays. With insights on regulatory arbitrage, composable finance, and the intersection of Wall Street and DeFi, it explains how traditional finance meets decentralized protocols. Olivier's blueprint for bridging these worlds offers crucial lessons for founders, investors, and anyone interested in the future of money.Key Highlights: 👉How Olivier Dang built KAIO into a $200M RWA tokenization platform inside Nomura 👉Lessons from convincing traditional banks to embrace DeFi and blockchain technology 👉KAIO's strategy for making hedge funds and private credit accessible through tokenization 👉Regulatory insights on stablecoins, CBDCs, and the global race for digital currency dominance 👉The future of composable finance and why institutional adoption is accelerating 👉Contrarian takes on DeFi regulation and the tokenization of traditional securitiesChapters:00:00 - Olivier Dang's Nomura to DeFi Journey 03:32 - Building Laser Digital Inside Traditional Banking 07:18 - Japan's Crypto Innovation Leadership Strategy 11:37 - KAIO's $200M RWA Tokenization Platform 16:07 - On-Chain Asset Management vs TradFi 20:22 - DeFi Composability and Institutional Adoption 24:33 - RWA TVL Integrity and Market Transparency 30:00 - Global Stablecoin Regulation and CBDC Debate 41:43 - USD Stablecoin Dominance and Geopolitical Impact 47:12 - Crypto Market Outlook and Fed Policy #RWATokenization #InstitutionalDeFi #OnChainAssetManagement #DeFiAdoption #BlockchainFinance #TokenizationPlatform #CryptoRegulation #StablecoinRegulation #CBDCDebate #TradFiMeetsDeFi #InstitutionalCrypto #AlternativeAssets #HedgeFundTokenization #PrivateCreditDeFi #ComposableFinance #DigitalAssetManagement #CryptoInnovationJapanDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

How did Jakob Palmstierna turn GSR into crypto's premier capital markets partner working with 500+ projects? In this episode, we explore the evolution of market making in DeFi, and his bold $10 trillion crypto prediction for 2030.Jakob Palmstierna, President of GSR, shares his journey from traditional hedge fund trading at Two Sigma to building one of crypto's most influential market making and capital markets firms. GSR has evolved far beyond market making, now serving as a comprehensive capital markets partner to over 500 crypto projects through market making, OTC trading, DeFi strategies, venture investing, and systematic liquidity distribution. In this candid conversation with host Sri Misra, Jakob reveals why DeFi yields can sustainably beat traditional finance through composability and disintermediation, discusses GSR's strategic shift from DeFi participant to architect through co-creating Katana blockchain with Polygon, and explains his contrarian pro-regulation stance for crypto's institutional future. He breaks down the technical differences between AMMs and order books, shares insights on managing risk during volatile markets, and offers his bold prediction that crypto markets will reach $10 trillion by 2030. Key Highlights: 👉 How Jakob built GSR into a capital markets partner serving 500+ crypto projects across market making, OTC, DeFi, and venture investing 👉 Why DeFi yields can sustainably exceed traditional finance returns through composability and reduced intermediation 👉 GSR's strategic evolution from DeFi participant to architect through co-creating Katana blockchain with Polygon Labs 👉 Technical insights comparing AMMs versus central limit order books for liquidity provision and trading efficiency 👉 Jakob's contrarian pro-regulation stance and why compliance will drive crypto's next billion users 👉 Bold market prediction: crypto reaching $10 trillion market cap by 2030 and the catalysts driving institutional adoptionChapters00:00 - Jakob's Journey from TradFi to Crypto 05:30 - GSR's Evolution Beyond Market Making12:45 - DeFi Yields vs Traditional Finance 18:20 - AMMs vs Order Books Explained 25:10 - Co-Creating Katana Blockchain with Polygon 32:40 - Pro-Regulation Stance in Crypto 38:15 - Managing Risk in Volatile Markets 44:50 - Institutional DeFi Adoption Barriers 51:30 - $10 Trillion Crypto Prediction 2030 57:20 - Future of Market Making#cryptomarketmaking #DeFiinnovation #cryptotrading #marketmaking #cryptoliquidity #DeFiyields #cryptoregulation #institutionalcrypto #cryptoventures #blockchaintrading #cryptoOTC #DeFicomposability #cryptopredictions #cryptomarkets2030 #tradfivsdefi #cryptocapitalmarkets #polygonkatana #cryptofundingDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

How is China quietly building the world's largest blockchain infrastructure while crypto remains banned? In this episode, we uncover the BSN (Blockchain Service Network) - China's answer to public blockchains that's powering everything from national digital identity to enterprise applications across 2,500+ companies.Yifan He, CEO of Red Date Technology and core architect of China's BSN, reveals the intricate web of blockchain innovation happening behind China's crypto ban. From converting popular public chains like Ethereum and Cosmos into compliant "open permissioned" networks to launching the world's first government-issued DID system, China is quietly rewriting blockchain infrastructure. Yifan shares candid insights on how BSN bundles 12 different blockchain networks into one seamless platform, why Chinese regulators are suddenly paying attention to stablecoins ahead of Hong Kong's licensing regime, and his bold prediction that there's a 50% chance China lifts its crypto ban through a "crypto connect" system similar to Hong Kong Stock Connect. In this conversation with host Sri Misra, Yifan also unveils the UDPN project - a SWIFT-like network for tokenized banking that could transform how banks operate globally, and explains why he believes institutional adoption, not retail, will drive blockchain's mainstream breakthrough.Key Highlights: 👉 How BSN converted Ethereum, Cosmos, and 10 other public chains into China-compliant blockchain infrastructure 👉China's revolutionary national DID system using BSN that enables anonymous KYC verification for 1.4 billion citizens 👉Why Hong Kong's stablecoin licensing regime could trigger China's crypto policy shift 👉The UDPN consortium's vision for token-based core banking systems that could replace traditional bank accounts 👉Yifan's 50% prediction that China opens crypto trading through Hong Kong Stock Connect infrastructure 👉How 2,500+ Chinese enterprises are using BSN for supply chain, NFTs, and data sharing without touching cryptocurrencyChapters:00:00 - China's Secret Blockchain Revolution Revealed 05:20 - BSN: Converting Public Chains for China 13:15 - China's National DID System Breakthrough 21:40 - Hong Kong Stablecoin Licensing Game Changer 32:50 - UDPN: Building SWIFT for Token Banking 44:25 - China's 50% Crypto Ban Reversal Prediction 53:10 - Institutional vs Retail Blockchain AdoptionDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

What draws crypto pioneers to build infrastructure instead of chasing consumer apps? In this episode, Alvin Foo reveals his 10-year framework for separating signal from noise in Web3 and why Asia is the sleeping giant of tokenized assets.Alvin Foo has spent over 25 years at the intersection of technology and finance, transitioning from senior roles at Google and Nokia to become a pioneering force in real-world asset tokenization. As Co-Founder of NASDEX and Venture Partner at Zero2Launch, Alvin has raised over $1.2 million with 16x oversubscription for Asia's first regulated RWA marketplace. In this candid conversation with host Sri Misra, Alvin shares his unique "picks and shovels" philosophy for building Web3 infrastructure, reveals why he pivoted Zero2Launch from crypto VC to AI automation, and breaks down his framework for identifying which technologies will create massive impact versus mere noise. From his early days bringing satellite broadband to remote Asia to tokenizing private credit markets, Alvin offers contrarian insights on China's crypto influence, the future of stablecoins, and why the next decade will see everything valuable move on-chain. This episode provides rare insights into the strategic thinking behind successful Web3 infrastructure plays in Asia's rapidly evolving digital economy.Key Highlights: 👉 How Alvin built his 10-year technology vision framework and applied it from satellite internet to crypto infrastructure 👉 The strategic pivot story behind Zero2Launch's evolution from crypto incubator to AI automation platform 👉 NASDEX's approach to tokenizing Asia's $30 trillion private credit market and regulatory navigation strategies 👉 Why China's crypto ban creates opportunities for Asian RWA infrastructure despite official restrictions 👉 Alvin's prediction for blockchain's hybrid future and which technologies will survive the next consolidation wave 👉 The "picks and shovels" philosophy for building defensible Web3 infrastructure businessesChapters:00:00 - Alvin's Tech Journey: From Law to Web3 Pioneer03:30 - Building Satellite Internet Before Starlink Era08:02 - The 10-Year Framework for Technology Bets15:46 - Why Stablecoins Power the Web3 Economy21:26 - NASDEX: Tokenizing Asia's Private Credit Markets27:28 - China's Crypto Paradox and Asian Opportunities34:01 - Zero2Launch Pivot: From Crypto VC to AI43:16 - Web3's Hybrid Future: On-Chain vs Traditional48:06 - The Consolidation Coming to Blockchain Infrastructure#RealWorldAssets #TokenizationExplained #Web3Infrastructure #AsianCrypto #PrivateCredit #StablecoinAdoption #TradFiMeetsDefi #CryptoRegulation #Web3Builder #TokenizedEquity #CryptoCareerPivot #BlockchainAsia #DecentralizedFinance #CryptoEntrepreneur #Web3TransitionDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

How is custody in crypto evolving from simple storage to the backbone of institutional trust?In this episode, Zodia Custody CEO Julian Sawyer unpacks the global digital asset custody landscape and why banks and institutions are betting big on regulated solutions.Julian Sawyer, former co-founder of Starling Bank and ex-CEO of Bitstamp, now leads Zodia Custody, a Standard Chartered–backed platform redefining institutional crypto custody. In this candid conversation with host Sri Misra, Julian shares the Zodia founding story, its global expansion, and the new products reshaping custody beyond safekeeping - from staking to settlement networks. He breaks down why regulation is not a roadblock but a catalyst, how Interchange is tackling FTX-style counterparty risk, and why Gateway could connect institutions to crypto yield in a bank-friendly way. Timely, insightful, and global in scope, this episode is a must-listen for anyone tracking the future of digital assets, DeFi, and regulated crypto custody.Key Highlights:👉Julian Sawyer’s journey: from Starling Bank to Bitstamp to scaling Zodia Custody👉Why custody is now about yield, staking, and settlement — not just storage👉Zodia’s Interchange and how it could have prevented FTX-style collapses👉How bank DNA and regulation are shaping institutional crypto adoption👉The future of custody bridging CeFi, DeFi, and TradFi👉Zodia’s global growth strategy and recent UAE expansion via Tungsten acquisition

#DigitalAssetCustody #InstitutionalCrypto #Blockchain #DeFi #Web3 #CryptoRegulation #TradFi #DigitalAssets #CustodyServices #CryptoInfrastructure #Bitcoin #Ethereum #Stablecoins #CryptoCompliance #FinTech #CryptoSecurity #BlockchainTechnology #CryptoCustody #InstitutionalAdoption #cryptoecosystem Disclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

"A billion people are going to have crypto wallets, which they won't even call crypto wallets. They'll just call wallets. And once you have a wallet, you're one step from DeFi." - Matthew HouganThis insight reveals how stablecoin adoption could trigger the next wave of DeFi mass adoption.In this episode of alpha un#, Sri Misra sits down with Matthew Hougan, Chief Investment Officer at Bitwise Asset Management, who oversees $5+ billion in crypto assets and manages the world's largest crypto index fund. Matt brings a unique perspective from his previous role as CEO of ETF.com, where he helped legitimize the ETF industry before transitioning to crypto in 2018.Key Insights from the Conversation:

👉Crypto asset management is 30x under-penetrated compared to traditional finance 👉DeFi lending has flipped from 80% CeFi to 60% DeFi in just two years👉Regulatory risk, not volatility, is the biggest barrier to institutional adoption 👉The 4-year crypto cycle may be ending due to institutional flows 👉Second-order effects of stablecoin growth could 100x DeFi usageChapters: 00:00 What Keeps a $5B Crypto CIO Awake at Night 05:55 From $10M to $5B: Bitwise's Incredible Growth Journey 14:28 Why Crypto Asset Management is Massively Under-Penetrated 22:26 The Institutional Appetite for Alt Coins is Changing 27:22 Stablecoins Will Create a Billion Crypto Wallet Users 31:06 How Crypto Regulation Became Rocket Fuel for Growth 38:38 The Death of Crypto's 4-Year Cycle Theory 42:43 Why ETF Veterans Are Flocking to Crypto 47:55 Building a Global Crypto Asset Management Empire 51:00 Bold Predictions: Bitcoin $200K and ETH All-Time Highs#Crypto #Bitcoin #Ethereum #DeFi #CryptoInvesting #BitcoinETF #EthereumETF #CryptoAssetManagement #Stablecoins #Web3 #Blockchain #CryptoNews #InstitutionalCrypto #CryptoRegulation Disclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

"We're going to have tens of thousands of blockchains" - Marc BoironThis isn't crypto speculation - it's the inevitable result of specialized infrastructure beating general-purpose solutions.In this episode of alpha un#, host Sri Misra sits down with Marc Boiron, CEO of Polygon Labs, to explore why the blockchain landscape will fragment into thousands of purpose-built chains and how unified liquidity layers will make this complexity invisible to users.Marc brings a unique perspective as both a former securities lawyer and crypto operator who has witnessed the evolution from enterprise partnerships to crypto-native focus at one of Web3's most significant infrastructure companies.Key Insights Discussed: 👉 Liquidity fragmentation as DeFi's core problem 👉 Why "opinionated" chains outperform permissionless competition👉 Impact of FTX on enterprise adoption👉Sustainable yields through revenue redirection 👉 Trust trade-offs in centralized sequencers vs L1 block builders#DeFi #Blockchain #Web3 #Crypto #Layer2 #CrossChain #Interoperability #Polygon #Infrastructure #Ethereum #Liquidity #MultiChain #AggLayer #Katana #BlockchainScaling #CryptoInfrastructure #DecentralizedFinance #Web3Infrastructure #BlockchainTechnology #CryptoPodcastDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.