Public Key

Darknet Markets, North Korean hackers, scams and ransomware.  We cover it all in part 2 of our exclusive Crypto Crime Report edition of Public Key.

Eric provides a nuanced analysis of illicit activities involving cryptocurrency and how they have shifted over the past year and explains the increased diversification and professionalization in the crypto crime space, painting a comprehensive picture of the challenges facing law enforcement and the compliance sector. 

They both describe the shift in cryptocurrency usage from Bitcoin to stablecoins and altcoins and the impact of real-world events correlated with on-chain behavior and how these crypto crimes are mirroring geopolitical tensions. 

2 | Crypto crime diversification and illicit activity trends

4 | What cryptocurrencies are illicit actors using most?

9 | Surprising illicit activity that has emerged in crypto and digital assets

13 |Unexpected trends in stolen funds and ransomware activity

21 | Enhancing crime detection with signals and evidentiary data

26 | Predicting darknet market trends amidst crypto crime dynamics

30 | How Tornado Cash being delisted and Garantex being shutdown will impact 2025 stats

33 | Favorite sections of Crypto Crime Reports - Past and Present 

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Will DORA regulation Change the way Financial Institutions and Crypto Assert Service Providers utilize technology providers like Fireblocks?

2 | Jason’s transition from public sector and traditional legal to digital asset frameworks

4 | Fireblocks: Secure and flexible digital asset custody platform

7 | Could Bybit Hack have been avoided using Fireblock’s technology?

12 | DORA's Impact on technology providers, CASPs and financial institutions

19 | Challenges and strategies for DORA Compliance in Financial Services

24 | Navigating MiCAand DORA compliance challenges for EU crypto service providers

30 | Will DORA raise standards or stifle innovation?

33 | Challenges of regulating DeFi within traditional financial frameworks

37 | Global regulatory shifts in cybersecurity and digital assets with the USA taking the lead?

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Have you heard terms like Economic Statecraft, Jurisdictional Arbitrage or Axis of Evasion and wondered what they meant or how they applied to cryptocurrency and sanctions?

2 | Kim Donovan's journey From government to crypto regulation

4 | The Axis of Evasion: Crypto's role in sanctions evasion by Russia

9 | Crypto's impact on global trade and sanctions

15 | Blockchain analytics and the need for accessible compliance tools

20 | Sanctions, alliances and global economic risks

23 | Cash is still king for terrorist financiers and illicit financial activities

27 | The Economic Statecraft Initiative  and global financial inclusion

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

The US has been viewed as having a regulation by enforcement policy, but now they are focusing on becoming the leader of blockchain and stablecoin legislation.

He also provides an astute analysis of the evolving regulatory environment surrounding digital assets, emphasizing the need for clarity in legislation to foster innovation, while reflecting on the early days of blockchain exploration. 

2 | George’s journey working with traditional securities and entrance into crypto

4 | ICO’s, tokenized assets and balancing innovation and regulation

6 | How US Regulators could lead the world in crypto legislation

9 | The biggest lawsuits filed by the SEC including Coinbase and NFT Marketplaces 

10 | [UPDATED] George summarizes recent lawsuits settled against crypto frims

12 | Borderless Labs and their mission to revolutionize global payments with stablecoins

17 |The future of stablecoin regulation and adoption

22 | Managing transactions speed and on-chain data in the modern world of payments 

25 | Regulating celebrity endorsements and consumer protection in NFTs and memecoins

29 | Biggest predictions and breakthroughs in the digital asset industry in the USA 

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

You can’t go to a crypto conference in 2025 without a company or a speaker mentioning the convergence of AI and digital assets.

Michael outlines the critical transition from legacy financial systems to agile, cloud-enhanced infrastructures, which is imperative for economic competitiveness and highlights the commitment of AWS in enhancing digital asset scalability, cybersecurity, and collaborations with public and private sector. 

2 | Amazon AWS's Role in crypto and digital assets

4 | From Treasury to AWS: Michael’s  journey through finance and technology

8 | The intersection of AI and digital assets in finance and cloud computing

14 | Enhancing blockchain security with AWS and Generative AI

19 | Collaboration between public and private sectors in digital assets

23 | AWS's role in the future of digital assets and global customer adoption 

27 | What’s in store for AWS and their digital asset and AI journey

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

With the Chainalysis 2025 Crypto Crime Report about to be released and the news about Bybit and the largest crypto hack in history, there is no better time than to discuss DPRK, sanctions evasion and the rise of crypto services used by illicit actors, including Huione Guarantee and Russian Instant Exchangers.

2 | Sanctions and crypto and how to navigate geopolitical challenges

8 | Hamas and Al Qassam brigades use crypto donations for terrorist financing

11 | Emergence of Russian Instant Exchangers and Russian bank sanctions evasion

13 | Understanding “Secondary Sanctions” and how they apply to crypto 

19 | Crypto networks and alliances forming amongst Russia, Iran, North Korea and China

23 | How Iran and Russia are using crypto to move conduct crypto cross border payments

27 | Southeast Asia and the surge of crypto crime and pig butchering schemes

29 | Exposing the Huione Guarantee service provider and why they are at the heart of the massive crypto crime ecosystem 

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

“We should be able to dare criminals to use blockchain and cryptocurrency to conduct laundering. We should be able to dare them to launder on a public, unobscured ledger.” - Carole House

2 | From Army officer to crypto regulator: Carole House's journey

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

A Scamdemic is something we could have never imagined, but with the evolution of blockchain, crypto and AI we are right in the middle of the new age of fraud.

2 | Trisha’s early experimentation experience as an intern at Google 

4 | The current state of fraud and the acceleration of it using AI

6 | Fraud detection and prevention in crypto and financial sectors

11 | $25 Million deepfake scam on hedge fund using AI

14 | How AI is changing the future of fraud and compliance work 

17 | Traditional KYC is dead!

20 | Is 2025 the year of the SCAMDEMIC?

23 | Reducing false positives in fraud detection with AI

25 | Entrepreneurship, mission-driven work and building a team at Unit21

27 | AI integrations to combat elderly fraud

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Solana, AI agents, predictions markets and memecoin culture. These are just some of the many  predictions that anonymous crypto veteran, @redphonecrypto (Crypto and AI storyteller, Delphi Labs) shares with Bry, Senior Solutions Architect, Chainalysis) in what is one of the most jam packed episodes of 2025. 

He shares insights from his industry leading theses including AI's economic impact, Solana's retail trading resurgence and the potential mainstream integration of crypto by tech giants. 

He also provides predictions on decentralized networks, LLM-powered apps, the evolution of prediction markets and the emergence of memecoin culture that has shocked the industry.

2 |The anonymity and security concerns in the crypto world

4 | Delphi Labs and the emergence of crypto and AI projects

8 | Crypto's mainstream integration and Solana's retail trading surge

14 | Predictions for 2025: The rise of LLM-based agents and prediction markets 

24 |  The future of tokenized assets and decentralized finance

30 | DePIN revolutionizing infrastructure, science  and gaming

37 | X (twitter) announces new payment partnership with Visa

40 | Memecoins and AI-driven attention markets

45 | The evolution of crypto from memecoins to institutional investment

48 | Bitcoin DeFi and the emergence of ordinals 

50 | DeepSeek, AI and the future of crypto and blockchain

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Cryptocurrency has woven its way into the tapestry of geopolitical tensions, the evolving landscape of national security and the future of strategic policy making

In this engaging episode,  Eitan Danon, Content Marketing Manager at Chainalysis, talks about China, Russia and all things national security with Matthew Pines, Director, Security Advisory at SentinelOne, as they demystify the global tensions and cybersecurity implications.  

The conversation covers the intersection of Bitcoin and AI, the strategic implications for U.S.-China relations, and the evolving cyber landscape, including cyber deterrence and private sector responsibilities.

2 | Matt’s journey through startups, government contracts and entrance into Bitcoin

4 | Exploring Bitcoin, AI, and geopolitics with the new Trump administration

11 | China's strategy for alternative financial systems and global influence

15 | Global financial interdependence and sanctions in geopolitical conflicts

22 | Cybersecurity challenges and strategic deterrence against China

27 | Factoring in  Bitcoin in geopolitical strategy and National Security discussions 

33 |  Strategic implications of potential Bitcoin reserve and global stablecoin usage

41 | Expectation Value: Matt’s book decrypting AI, and espionage activity in a novel world

43 | UAPs, non-human intelligence, and geopolitical implications for 2025

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.