Public Key

From the Bitlicense to OFAC Sanctions, Ian Andrews (CMO, Chainalysis) and guest Valerie-Leila Jaber (Global Head of Anti-Money Laundering, Coinbase) cover it all on this episode of Public Key.

She provides insights into Coinbase's focus on setting global minimum standards and their involvement in initiatives like TRUST for Travel Rule compliance, BASE their layer 2 blockchain and their new wallet releases.

2 | Valerie's interest in crypto and experience in traditional finance 

4 | Technology shifts and challenges in implementing AML regulations

7 | The variation in Crypto AML regulations across different countries

9 | Coinbase's involvement in the TRUST initiative and BASE, its Layer 2 blockchain  

12 | The usefulness of receiving crypto addresses from OFAC for compliance purposes 

15 | Discussion on the Coinbase Wallet and its position within the AML department  

18 | The challenges and benefits of multiple state-level regulatory frameworks for crypto

20 | The role of Coinbase's compliance program in being selected as a custodian for many  ETFs 

22 | Excitement for the year ahead in terms of legislation, market buoyancy, and international developments

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

• Website: Coinbase is the safest place to buy, sell, and manage crypto.

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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. 

“They want to destroy as many of our systems and resources as they can get the access to." - Yevhenii

In this episode Ian Andrews (CMO, Chainalysis) speaks to Yevhenii Panchenko (Head of Operational Analysis, Ukraine Cyberpolice Department.

He shares the challenges they face in stopping Russian organizations and the importance of international collaboration and volunteers in identifying fraud and scam projects.

2 | Discussion on the Ukraine Cyber Police mandate and global nature of cyber threats 

5 | Describing Russian cyber attacks on Ukrainian infrastructure 

8 | A day in the life of the Ukraine Cyber Police Unit

10 | Russian hackers using cryptocurrency to receive ransoms and evade sanctions 

12 | Collaboration with US and  EU agencies and training on using Chainalysis 

15 | Discussion on the effectiveness of sanctions on crypto flows 

18 | What is Scamfari and how they use OSINT to identify crypto fraud and collect data

21 | Impressive features of the DIIA City and the implementation of digital documents 

23 | Recommendations for supporting Ukraine, including cryptocurrency investigation skills 

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

• Website: Cyber Police of Ukraine is a law enforcement agency within the Ministry of Internal Affairs of Ukraine dedicated to combating cyber crime.

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

"Compliance always needs to be improving.” - Noah 

In this episode Ian Andrews (CMO, Chainalysis) speaks to Noah Perlman (Chief Compliance Officer, Binance), whose exchange was very focused on trading and users in the early days and now turning the  page to building out a robust Compliance program.

He discusses the challenges and opportunities of working in compliance in the crypto industry, the importance of trust and transparency and the steps Binance is taking to improve its compliance program.

Noah also talks about the collaboration between Binance and law enforcement agencies, the regulatory landscape in different countries, and his excitement for innovation and the future of centralized exchanges vs decentralized platforms. 

2 | Noah's transition from a prosecutor to Chief Compliance Officer at Binance 

6 | Experience and cultural differences between TradFi and Crypto 

9 | Importance of rebuilding trust in the crypto market and industry 

12 | Impact of the settlement with the US government on Binance and Chief Compliance Officer role 

15 | Collaboration with law enforcement and focus on rooting out bad actors 

19 | Discussion on the future of crypto and the role of centralized exchanges

21 | Debate on the US government's approach to crypto regulation 

25 | Excitement about innovating in compliance through technology and killer crypto use cases 

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

• Website: Binance: 188,487,264 Users Trust Us!

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

What if there is a company that can detect web3 cyber attacks and hacks before they happen?

In this episode Ian Andrews (CMO, Chainalysis) speaks to Gal Sagie, who is the Co-Founder and CEO of Hypernative, whose company is doing just that. Preventing malicious cyber threats aimed against the most important protocols and blockchains in the ecosystem,

He discusses how Hypernative's platform has successfully detected and prevented hacks and exploits in the industry and highlights the need for a comprehensive security approach beyond traditional smart contract audits and emphasizes the role of real-time monitoring and automated actions in mitigating risks.

2 | Overview of Hypernative and its mission in Web3 security

6 | Discussion on the importance of solving the security problem for wider adoption

10 | The speed of detection: 98% of attacks being detected 2 minutes or more before the first transaction

13 | Chainlink and other ideal users of Hypernative: protocols, chains and investors

16 | The focus on accuracy to minimize false positives and maintain trust 

19 | The limitations of smart contract audits and the need for additional security measures 

23 | The endless information available on the blockchain for security analysis and the goal to detect all potential risks with minimal effort from customers

27 |The importance of detecting and preventing attacks before any funds are lost 

31 | Hypernative's roadmap for the year ahead and plans for expansion 

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

• Website: Hypernative: Institutional Grade  Web3 Security

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

Everything is Bigger in Texas.  Especially blockchain technology and Bitcoin mining operations. 

Ian Andrews (CMO, Chainalysis) speaks to Lee Bratcher (Founder & President, Texas Blockchain Council), who is one of the pivotal figures making Texas a leader in Bitcoin, blockchain and digital asset innovation. 

Lee shares how he and the TBC are shaping Texas as a front-runner in blockchain policy and they both delve into the intricacies of blockchain technology including its governance, potential for solving societal problems and implications for property rights.

Lee highlights the energy economics of bitcoin mining in Texas and the pivotal shifts he has seen in digital asset regulation, with the advent of Bitcoin Spot  ETFs.

2 | Lee’s background and how he went from Army reserves to getting into cryptocurrency

4 | The concept of digital property rights and identification and its significance in society

6 | Texas Blockchain Council's impact on changing the narrative around blockchain in Texas and suing the Federal Government

10 | Texas becomes a mining epicenter due to China's blockage

14 | Filing an amicus brief to support Coinbase against the SEC

20 | DeFi Education Fund files preemptive lawsuit against the SEC 

22 | The North American Blockchain Summit aims to bring policymakers and regulators together with industry executives 

26 | Lee reflects on his interview with Balaji Srinivasan and how the share many profound perspectives

29 | Discussions on criminal activity in crypto and impact of Bitcoin spot ETFS

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

• Website: TBC: Making Texas a Leader in Bitcoin, Blockchain & Digital Asset Innovation

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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. 

It’s that time of year in the USA where the trees are blossoming, the winter jackets are being packed away for the season and there is only one thing on everyone’s mind. Taxes.  

But how do you report DeFi transactions, crypto staking and lending and stablecoin purchases? Well Ian Andrews (CMO, Chainalysis) brings in crypto tax generalist, Lorenz Haselberger (Partner at Shearman & Sterling LLP) to dive deep into the most complex tax implications facing the crypto industry. 

Lorenz unfolds the nuances of reporting taxes within the dynamic and evolving world of cryptocurrencies and shares his journey into the crypto tax niche and unwraps the critical aspects of current tax considerations.

He discusses the tax challenges with DeFi protocols and underscores the  importance of understanding the tax implications for both individual and institutional investors and the need for the US Government to provide more clarity and guidance to the crypto industry 

2 | Lawrence's background in taxation and involvement in the crypto industry 

6 | Discussion on the complexity of reporting obligations for exotic cases like crypto and DeFi lending 

14 | Everything you need to know about staking and potential tax implications

22 | The debate on whether DeFi transactions should be treated as a taxable event

25 | The national and international tax implications for crypto investors vs traders

33 | Debate on expanding information reporting requirements for crypto 

36 | Does tax complexity and uncertainty deter some from participating in crypto?

39 | Differentiating stablecoins from cryptocurrencies for tax purposes

42 | The evolution of DeFi protocols and need for Government guidance for crypto tax implications

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

• Website: Shearman & Sterling: Forbes names senior partner, Adam Hakki to top 200 lawyers in USA

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

"To really understand market integrity, you need to be able to monitor for market abuse and other forms of illicit finance, on and off-chain."

This is a powerful statement from market manipulation, Chen Arad (Co-Founder & CXO, Solidus Labs), who speaks with  Ian Andrews (CMO, Chainalysis) about the heart of market surveillance and integrity in a wildly fluctuating digital asset market.

He provides insights on the crypto market's need for robust risk and compliance systems and the growing regulatory recognition of its importance, while revealing alarming statistics revealed in Solidus Labs' Market Manipulation Reports. 

2 | Chen Arad's background as a journalist and his path to working in crypto and launching Solidus Labs

7 | Understanding the concept of market surveillance and market integrity in crypto

16 | The need for cross-market surveillance and integrity

22 | Real-time monitoring in crypto markets and importance of on-chain and off-chain data for market surveillance

28 | Insider trading and wash trading are more widespread than believed 

35 | Unpacking the definition and mechanics of wash trading on decentralized liquidity pools

40 | Wash trading involving malicious smart contract scams and potential money laundering 

44 | The importance of building compliantly and working with regulators 

47 | Potential for cross-market surveillance and growth of on-chain market

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

• Website: Solidus Labs: Safeguarding Your Crypto Business

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

In this milestone 100th episode, host Ian Andrews (CMO, Chainalysis) takes a break from his usual role and hands the reins over to Kim Grauer (Director of Research, Chainalysis) to discuss the biggest themes and topics from the last 100 episodes.

Ian offers advice for marketers and shares his excitement for upcoming developments at Chainalysis, including the recent decision in the Bitcoin Fog case.

• (2:30) – Ian's background at Pivotal and decision to join Chainalysis 

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

• Website: Chainalysis: Our annual Crypto Crime Report is back (Download It Today)

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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 Bitcoin reaching all-time highs we thought it would be best for us to revisit one of our most downloaded episodes on Public Key discussing Crypto Market Manipulation, with former Flashpoint founder, Evan Kohlmann and Ian Andrews (CMO, Chainalysis).  Evan is now the Founder and CEO of Cloudburst Technologies, a company tasked with scraping the dark web to identify potential pump and dump schemes and the associated illicit actors. 

In the episode recorded in February 2023, Evan explains the nuances of these targeted market manipulation attacks, who the orchestrators are, and the countries being targeted. He explains how his team’s technology can gather KYC information and shed some light on the extent these schemes have on the total illicit activity in the industry.

Evan even records an update to this episode highlighting the sudden rise of crypto prices, what are the biggest market manipulation concerns for 2024 and new data that his team is seeing that the general public should be aware of.

• (2:27) – Understanding market manipulation in the crypto world and what Cloudburst Technologies is doing about it

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

• Website: Cloudburst: Crypto is Risky, Invest in Intelligence 

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.

This week we’ve got a special episode for you. Over the nearly two years since we started the podcast one of our most frequent topics has been the crypto romance / investment scam known as Pig Butchering. 

In a Public Key first Ian Andrews (CMO, Chainalysis)  highlight impactful statements from past guests, including: Erin West, Alona Katz, Alastair McCready, Nicola Staub and Detective Matthew Hogan, who discuss the scam’s exponential growth has been, with Southeast Asia emerging as a hotbed for these criminal operations.

The group covers the basics of pig butchering, tactics used by international criminals, challenges in combating the crime and how collaboration and educational awareness are key solutions to preventing this complex crime.

• (2:15) - What Is Pig Butchering and how is it executed

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

• Report: The Chainalysis 2024 Crypto Crime Report (Download Today)

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 

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.