On The Brink with Castle Island

Matt and Nic are back with another week of news and deals. In this episode:

• Jensen Huang exits NVIDIA

• Did China hawks force Huang out?

• 21 banks commit $270m to Project Faro

• Warren prepares her Senate Banking agenda

• NYSE picks Avalanche for its planned tokenized stock venue

• ICE's initiatives with OKX and Trade.xyz

• MSCI drops Strategy and Metaplanet

• Kalshi ends Donald Trump Jr.'s advisory contract

• Plume's Kimber Digital Securities registers as a broker-dealer

• BNY adds institutional staking through Figment

• Visa adds Monad to stablecoin settlement

• This week's raises and Securitize's agreement to acquire River One

• Hyperliquid's data-priority auctions and Wintermute's edge

• Vitalik edges Ethereum back towards a SoV narrative

Content mentioned in this episode:

• Izabella Kaminska on NVIDIA and China

• Allium, State of Stablecoins and Payments, Q3 2026

• Two Ocean, Protecting Crypto Wealth with Trust Planning

Matt and Nic are back with another week of news and deals. In this episode:

• North Korean hackers pull off the largest crypto theft on record at Binance

• Democrats sweep the midterms and promise to slow the AI buildout

• How a fake job interview and a compromised internal AI tool led to the breach

• What role did EIP-7702 play in the hack?

• Stablecoin issuers freeze billions as the attackers race to swap into ETH

• Is Binance's SAFU fund enough?

• North Korea denies responsibility

• Mercado Bitcoin and Crédit Mutuel Arkéa also suffer attacks

• Sherrod Brown returns despite crypto's spending against him

• What did Fairshake get for its midterm spending?

• The CFTC opens the door to stock perps and immediately gets sued

• Monad introduces private settlement domains for institutions

• SEC staff gives Canton Coin a no-action letter

• Anchorage seeks CFTC swap dealer registration for crypto options

• Our latest thinking on Bitcoin's post-quantum prospects

Content mentioned in this episode:

• Derek Chiang on EIP-7702 and the Binance hack

• Chainalysis, Binance Exploit: Latest Findings and Response

• Monad Private Settlement Domains whitepaper

• SEC, Canton Coin no-action letter

• SEC Staff FAQs on Crypto Assets

Editor's note: this episode was recorded before the Binance hack.

Matt and Nic are back with another week of news. In this episode:

• Prediction markets keep screwing up around major elections
• Quantum firm Alice and Bob devise a new lower estimate for an ECDLP break
• Google enters institutional crypto custody with Google MPC
• ICE and Trade.xyz plan to bring Hyperliquid perps to the US, pending CFTC approval
• DTCC's tokenization service goes live on Canton and its private Besu chain
• Who is using Instinct?
• Who's behind the anonymous WSJ ad warning companies against tokenized stocks?
• Should public companies be able to opt out of tokenized trading?
• Canton Strategic Holdings plans to tokenize its own shares
• Bitcoin Core discloses three bugs found by an AI security scan
• Does AI make yearlong vulnerability disclosure embargoes obsolete?
• Category Labs unveils Quantum Cadence, a post-quantum consensus protocol
• Can fast blockchains accommodate quantum-safe signatures?
• Strategy shareholders approve daily dividends on its perpetual preferred stocks
• Datavault AI says it can't withdraw its Bitcoin from Biconomy
• Y Combinator's latest crypto request for startups
• Why do Kalshi and Polymarket disagree on the midterms?

Content mentioned in this episode:

• Nic on Coin Stories with Natalie Brunell

• Category Labs, Quantum Cadence

• Alex Thorn's Bitcoin bull case

• Y Combinator, Crypto Request for Startups

• Coin Metrics, 50 Shades of Gray: Explore Pricing

Matt and Nic are back with another week of news. In this episode:

• Marathon Fusion says it has turned mercury into stable gold

• What would commercially viable alchemy mean for Bitcoin's scarcity argument?

• AI tools uncover a major vulnerability in PHP

• A certificate authority's private keys turn out to be trivially guessable

• Railway warns developers to revoke their secrets after a cyberattack

• Banks are finding third-party AI agents inside customer accounts

• Who's responsible when your AI agent acts without instructions?

• The OCC finalizes its GENIUS Act rules

• Stablecoin issuers can't pay yield directly, but where does that leave third-party rewards?

• a16z reportedly plans to drop "crypto" from its flagship fund's name

• Ali Yahya is leaving to start a company

• Microsoft, Alphabet, and Goldman Sachs object to tokenized versions of their shares

• Should public companies have a veto over tokenizing their stock?

• Polymarket faces growing pains as Kalshi gains ground

• Are perpetual preferred shares a new source of Bitcoin demand?

• Can compute derivatives give investors a way to short the AI boom?

Content mentioned in this episode:

• Marathon Fusion, Alchemy

• OCC, Final Rule to Implement the GENIUS Act

• Fidelity Digital Assets, Perpetual Preferred Stock: The Newest Demand Catalyst in Bitcoin

• Bitwise, Q4 2026 Staking Report

• Wired, The DEA's Premier Crypto Detective: Clues Led Straight to Her Own Family

• Bloomberg, Polymarket Investors Push CEO Coplan for Change as Kalshi Gains Ground

• The Wall Street Journal, Want to Short the AI Boom? She Wants to Give You a Way to Bet on Compute Prices

Matt and Nic are back with another week of news and deals. In this episode:

• The OCC publishes its debanking findings on America's largest banks

• Will the banks' fixes satisfy regulators?

• Google makes another advance in quantum error correction

• Coinbase lays out its requirements for Bitcoin's post-quantum migration

• Can Bitcoin's quantum transition accommodate institutional MPC wallets?

• OpenAI is reportedly in talks to buy Trail of Bits

• Patrick Witt leaves the White House — where does that leave Clarity?

• DWF Labs subsidiaries sue BitGo for $141m over allegedly premature token sales

• Spy chips in reseller-supplied Ledger devices steal recovery phrases

• Ledger announces an Android device with Solana Mobile

• Cboe gets approval for binary options on public company metrics

• The CFTC draws the line between prediction markets and sportsbooks

• Richard Heart is reportedly detained in Istanbul

• What's NYC Mayer Zohran Mamdani doing with a quantum computer?

Content mentioned in this episode:

• OCC, Guaranteeing Fair Banking for all Americans

• Nic on Convergence: quantum risk and AI-driven advances in math

• Google Quantum AI on magic state cultivation

• Coinbase, Working Together on BTC Post-Quantum Readiness

• Jeff Yan on Bloomberg's Odd Lots

Matt and Nic are back with more deals and news. In this episode:

• Is it appropriate to have AI manage your fantasy league?
• Quant firms are hiring "quals"
• Justin Drake scares everyone in crypto
• Did AI destroy math?
• Why a classical ECDSA break would be worse than a quantum one
• Why we lean forward hash-based signatures for post-quantum
• Why rotating your address doesn't help now
• Is Bitcoin the "least of our concerns" if ECC breaks?
• Nic makes a new scientific discovery with Astra
• The NFL thinks that gambling should be state regulated
• What's driving interest in Pokemon cards?

Content mentioned in our episode:

• Coin Metrics, The Death and Life of the Average Memecoin

Esther Wong, founder and CEO of Cashi joins the show. Cashi is a stablecoin spending app and cashback card with a global footprint. In this episode we discuss:

• Customer personas and use cases for stablecoin payments
• The future of tokenized equities on chain
• The landscape of layer one and two blockchains and how these platforms converge with global stablecoin applications
• Cashi's roadmap and plans for the coming year

To learn more about Cashi, visit their website and follow Esther Wong on X.

Matt and Nic are back with another week of news and deals. In this episode:

• Are OpenAI and Anthropic reenacting the Fat Protocol Hypothesis
• Will AI agents cause bank runs optimizing bank balances for yield?
• If the AI complex bursts does it take down VC?
• Our tribute to Hester Peirce as she retires from the SEC
• The SEC and CFTC publish crypto FAQs
• Vitalik lays out his vision for Ethereum in 2030
• Quantum progress is accelerating
• Illinois delays their crypto transaction tax
• Is San Francisco better than it was?

Matt and Nic are back with another week of news and deals. In this episode:

• How loud are America's largest data centers?
• What's wrong with XAI's data center in Mississippi?
• The Trump admin is reportedly trying to promote dollar stablecoins
• Binance invests in Circle
• We pick up the pieces after Clarity
• Fairshake plans to spend $30m opposing Sherrod Brown in Ohio
• How AI anxiety helps the Democrats
• Sherrod Brown is back to haunt crypto
• Coinbase is listing IPOs now
• Are prediction markets out of step with the original vision?
• BitMEX finally closes its doors
• 52 BTC were saved from the Coldcard hack by white hats
• Is Anthropic privatizing the frontier?
• A White House memo says effective altruism is a cult

Content mentioned in this episode:

• Nic on Substack, How Noisy are America's Largest Data Centers?

Matt and Nic are back for another week of news and deals. In this episode:

• How is SBF like Dario?
• The EAs are at it again
• Do we need new regulation to Pace the Frontier?
• Can Anthropic be regulated like a bank?
• Are baseball cards back?
• Clarity fails at the final hurdle
• Why did Clarity fail?
• Stablecoin yield is still in effect
• The SEC and CFTC are engaging in rulemaking
• Circle launches Arc, their new L1
• Robinhood employees get caught insider trading on Hyperliquid
• Caroline Ellison is back and working for a former FTX portco
• Can AI models leak MNPI?
• A Polish oil company tried to buy sanctioned oil from Venezuela with USDT
• The DOE launches a $250m Quantum computing competition