Talking Tokens: Crypto, Onchain Finance, Investing

On today’s Talking Tokens episode, Jacquelyn sits down with Gracy Chen, CEO of Bitget, one of the world’s top crypto exchanges. Under her leadership, Bitget has grown to 100M+ users across 150+ countries, with over $3 billion in daily trading volume and a thriving token ecosystem built around BGB.

Gracy opens up about her journey from broadcast journalism to fintech and eventually crypto. She breaks down Bitget’s strategy for global growth, how BGB could be more than just an exchange token, and what they're building beyond trading — including wallets, partnerships, and education. They also discuss AI, regulation, token utility, and more women entering web3 leadership.

Timestamps

(00:00) - Intro

(01:44) - From TV anchor to fintech investor to Bitget

(04:39) - How Bitget grew to 100M+ users & 150+ countries

(07:53) - How BGB aims to be more than an exchange token

(10:12) - Bitget Wallet, education, and expanding access

(13:31) - Gracy’s early investments: BTC, ETH & XRP in 2015

(16:58) - Why she left traditional finance for Web3

(20:47) - How she became CEO after investing in Bitget Wallet

(24:09) - Women in Web3: representation, storytelling & risk-taking

(28:46) - Brand building, community trust & emerging markets

(33:17) - The future of BGB & Bitget’s next big bets

(37:52) - Final advice: be visible, lead with mission, tell your story

You can subscribe to the podcast on Spotify, Apple or YouTube.If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokens

Follow us on InstagramTalking Tokens: https://www.instagram.com/_talkingtokens/

Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On today’s Talking Tokens episode, Jacquelyn sat down with Hong Sun, head of institutions at Core. Core is a bitcoin-secured, EVM-compatible L1 powering a new wave of BTCFi apps, stablecoin adoption, and yield primitives without requiring bitcoin to leave holders’ wallets.

Hong walks through how Core uses bitcoin time locks to enable staking and yield generation, what "dual staking" means for institutional safety and returns, and how Core partners with firms like Maple Finance, Copper, and DeFi Technologies to operationalize BTCFi. He breaks down the rise of liquid staking for bitcoin, how spot ETFs paved the way for the next wave of bitcoin adoption, and what new builders can expect from Core’s Rev+ model.

They also discuss how BTCFi is changing institutional strategies, bitcoin-as-treasury dynamics, and the future of composable bitcoin collateral in both DeFi and traditional finance.

Timestamps

(0:00) - Who is Hong Sun & what is Core?

(0:54) - From Paxos to BTCFi: Hong's journey

(2:01) - Why bitcoin yield matters for adoption

(2:34) - Yield without custody risk: Time locks explained

(4:03) - LSD-BTC and tokenizing yield

(5:44) - ETF buyers vs. yield seekers: the next wave

(6:51) - How institutions are thinking about BTC yield

(8:12) - Why time locks minimize risk

(10:25) - Tax efficiency & regulatory clarity

(11:08) - From gold to fixed income: Bitcoin's new narrative

(13:14) - Allocating bitcoin in portfolios

(15:01) - Is bitcoin the new real estate?

(17:14) - Growth of BTCFi across L1s

(19:28) - Core as infra for Bitcoin utility

(21:30) - New products: wBTCY, Rev+

(23:29) - Sharing gas fees with builders

(24:37) - The stablecoin connection to BTCFi

(26:28) - Monetizing distribution for issuers

(27:27) - Incentives for builders & devs on Core

(29:33) - Educating institutions on safe BTC yield

(32:24) - BTCFi: treasuries, ETFs & traders

(34:08) - Positive carry for market makers

(35:25) - What dual staking unlocks

(38:13) - BTCFi TAM & billion-dollar upside

(40:23) - Composable Bitcoin in traditional finance

(42:15) - Liquidity, volatility & macro impacts

(44:14) - Hong’s advice: think big, build aligned systems

You can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokens

Follow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/

Note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On this episode of Talking Tokens, Jacquelyn sits down with Simon Davis, co-founder and CEO of Mighty Bear Games, and Martin Masser, head of growth at TON Foundation. The two combined forces to shape the future of gaming and digital collectibles inside Telegram. Simon breaks down the story behind Mighty Action Heroes and why his studio pivoted to build on TON. Martin shares how TON-powered Telegram apps are quietly onboarding millions, often without users realizing they’re even interacting with crypto. The discussion covers the new wave of airdrop farming games, why collectibles and mini-apps matter, and what mass adoption in web3 could look like. Plus: advice on growth, why frictionless UX beats hype, and practical tips for breaking into crypto.

⏱️ Timestamps

(00:00) - Intro

(01:08) - What’s the REAL connection between Telegram and TON?

(03:30) - How Simon and Martin got started in web3 & gaming

(05:34) - What actually makes a good web3 game? Audiences, fun, yield, and “crypto speculators”

(08:05) - Why onboarding is broken—and how Telegram/TON plan to fix it

(09:08) - Using Telegram Collectibles as social and onboarding gateways

(13:16) - Users don’t care about chains or tech. They just want fun, easy games

(16:05) - Growth hacks: using AI bots and community agents for user acquisition

(18:07) - Social apps, sticker NFTs, and why “crypto” is better hidden behind the scenes

(22:09) - The next wave: Brand partnerships, new utility, and sticker store innovations

(27:14) - Challenges: Airdrop farmers, awareness gaps, and what still needs building

(36:14) - Lessons & advice: Stay curious, get into the weeds, and “provide value” if you want in

(43:04) - Final tips for security, jobs, and how to really impress in crypto

📢 Subscribe & FollowSubscribe on Spotify, Apple or YouTube. If you like the show, leave us a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow on X: Jacquelyn: https://twitter.com/jacqmelinek | Talking Tokens: https://twitter.com/_TalkingTokensInstagram: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only. Guests may have a financial interest in discussed assets or companies. Not investment advice.

On this episode of Talking Tokens, Jacquelyn sits down with Henri Stern, co-founder and CEO of Privy, the wallet infrastructure powering over 75 million accounts across major platforms like Hyperliquid, Blackbird, and Farcaster.

Recently acquired by Stripe in June 2025, Privy continues to operate independently while scaling its innovative wallet solutions. Henri shares the vision behind simplifying crypto onboarding for developers and users alike, bridging the gap between onchain and offchain worlds. Discover how Privy’s embedded wallet technology and focus on user experience are accelerating new financial product innovations, and why seamless integration across chains like Ethereum, Solana, and Base is key to mass adoption.

⏱️ Timestamps

(0:00) - Intro

(0:50) - Who is Henri Stern?

(2:40) - Henri’s crypto journey and founding Privy

(3:37) - Solving the onchain/offchain gap with embedded wallets

(4:44) - The Stripe acquisition: alignment and fast process

(7:45) - Benefits of operating within Stripe’s ecosystem while remaining independent

(10:30) - Developer tooling focus vs. consumer crypto products

(14:00) - Growth ambitions and courting larger customers

(18:20) - Accelerating adoption by non-crypto fintechs and enterprises

(22:00) - Wallets as social and financial super apps

(27:00) - The future of wallets as digital identity and ubiquitous infrastructure

(36:00) - Founder advice: focus, simplicity, and building what users understand

📢 Subscribe & Follow Subscribe on Spotify, Apple or YouTube. Leave a review if you like the show!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Follow on X:

Jacquelyn: https://twitter.com/jacqmelinek

Talking Tokens: https://twitter.com/_TalkingTokens

Instagram: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only. Guests may have financial interests in assets or companies discussed. Not investment advice.

On today’s Talking Tokens episode, Jacquelyn sat down with Chris Yin, Co-founder and CEO of Plume Network — a blockchain built for real-world assets (RWAs). Backed by Brevan Howard, Haun Ventures and others, Plume launched mainnet in June 2025 and already accounts for over half of all RWA holders in crypto.

Chris shares how Plume went from a structured product app to a full L2 chain, why most tokenized assets fail, and what it takes to make RWAs actually usable. From community-led DeFi to bottoms-up UX, he breaks down Plume’s strategy for bringing the next billion users onchain and why traction beats headlines.

Timestamps

(0:00) - What is Plume Network?

(1:32) - Chris’s background: DeFi summer, yield farming, and app-layer insights

(2:15) - Why most tokenized assets fail: no usage, no velocity

(4:03) - Why Plume had to build its own chain

(5:42) - Tokenization isn’t enough — here’s what else matters

(8:01) - RWAs as crypto’s biggest opportunity (bigger than all DeFi)

(9:33) - Stable yield, composability, and how users interact with assets

(12:16) - What makes tokenized assets actually usable

(14:00) - Top-down vs bottoms-up tokenization

(16:00) - Mineral Vault onboarded 80K holders in a month

(19:12) - Plume’s Phase 2: onboarding non-crypto users

(20:30) - Why real traction > flashy launches

(22:41) - The real numbers behind RWA growth

(25:50) - Plume’s 2025 goal: $1B in clean, onchain RWA value

(27:48) - Structured products will unlock the next wave

(30:50) - Long-term vision: an onchain BlackRock

(32:10) - It’s not about one asset — it’s the full stack

(36:36) - Honoring Co-Founder Eugene Chen

(39:25) - Final advice: focus long-term, but adapt fast

You can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokens

Follow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On today’s Talking Tokens episode, Jacquelyn sits down with Stephen Hess, founder of Metaplex and director of the Metaplex Foundation — the protocol that powers 99% of tokens and NFTs created on Solana. What ERC-20 is to Ethereum, Metaplex is to Solana — but it’s also much more than that.

They discuss how Metaplex helped define the NFT era, what the new Genesis platform brings to onchain token launches, and why memecoins, stablecoins, and real-world assets are converging into a single unstoppable wave. Stephen shares insights from his early Solana Labs days, breaks down the hard lessons from its Candy Machine protocol, and explains why true transparency and permissionless innovation are the keys to the future of crypto capital markets.

TIMESTAMPS

(0:00) - Metaplex's Dominance on Solana: 99% of NFTs and Tokens

(1:26) - Stephen's Background: Solana Labs, NFTs, and Infrastructure

(5:00) - Candy Machine Era → Genesis: Evolving Token Launch Standards

(7:03) - Standardizing Onchain Token Offerings with Transparency

(10:00) - Why Most Token Launches Are Broken — and How to Fix Them

(14:00) - Tokenomics, Project Types, and Launching With Integrity

(17:13) - Metaplex By the Numbers: 10M Wallets, $10B in Value

(18:22) - Beyond Memecoins: DeFi, Stablecoins, and App Layer Growth

(20:15) - Startups Will Launch Onchain — Here's What That Looks Like

(24:26) - Token Market Oversaturation? Why He’s Bullish Anyway

(26:04) - IPO vs Permissionless: What 'Onchain' Really Means

(29:25) - Regulation, Timeline, and Real Assets Coming to Crypto

(30:43) - NFTs: Rebuilding After Fatigue, One Community at a Time

(33:06) - Why NFTs Still Matter and the Hidden Strength of Their Ecosystems

(34:52) - What Makes a Good Crypto Product — and a Better Founder

(37:09) - Final Advice: Stay Scrappy, Stay on Day One, Stay Building

You can subscribe to the podcast on Spotify, Apple or YouTube. If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Follow us on X Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokens

Follow us on Instagram Talking Tokens: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

In this episode of Talking Tokens, we’re joined by Tzvi Wiesel, co-founder and CEO of BAXUS — a Solana-powered marketplace for high-end wine and spirits.

We dive deep into how BAXUS is tackling inefficiencies in the alcohol market, from price mismatches and shady gray markets to turning whiskey collections into onchain collateral. Tzvi shares the journey from running whiskey festivals to running his own vaults, why Solana was the right chain, and how he’s unlocking global liquidity in a $2T+ industry.

This episode is a part of the Solana Sessions campaign that Token Relations and the Talking Tokens podcast are doing, diving into founders’ journeys and startups building on Solana.

TIMESTAMPS

(00:00) - From Whiskey Festivals to On-Chain Marketplaces

(01:26) - The Problem With Alcohol Pricing Globally

(03:39) - Arbitrage, Rare Bottles & Building a Marketplace

(07:44) - Why BAXUS Runs Its Own Vaults

(10:40) - Bringing Liquor On-Chain: Solana, UX & Gas

(16:03) - Credit Cards vs Stablecoins: Who's Really Buying

(21:04) - The Rise of Tokenized Booze Collateral (w/ Loopscale)

(27:00) - Turning Collections into Capital

(30:26) - Targeting the $2T Global Spirits Industry

(34:33) - Lending, Cask Financing & Economic Friction

(40:13) - Who's Selling: Collectors, Retailers, and Liquor Stores

(45:07) - How BAXUS Powers Brand Activations Like Wild Turkey

(48:52) - Going Global: Where Will BAXUS Vaults Pop Up Next?

(54:00) - The Future of Wine on Chain

(58:00) - Why Community Matters More Than Airdrops

Check out the accompanying newsletter on www.token-relations.xyz

If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Jacquelyn: https://twitter.com/jacqmelinek

Talking Tokens: https://twitter.com/_TalkingTokens

Talking Tokens: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

In this episode of Talking Tokens, Jacquelyn sits down with Annelise Osborne, Chief Business Officer at Kadena — a proof-of-work Layer 1 built by former JP Morgan blockchain leads. Kadena isn’t just another chain; it’s an ambitious bet that regulation, decentralization, and enterprise-grade tooling can live in the same ecosystem.They dive into Annelise’s Wall Street background, her work on the SEC’s ICO task force, and why she sees tokenization, smart contracts, and privacy as the keys to bridging TradFi with crypto. From building Kadena’s BD, grants, and ecosystem playbook to running fan tokens for the Croatian football team, Annelise shares what it takes to build a business layer on top of chain infra — and how she’s positioning Kadena for long-term adoption.⏱️ Timestamps(0:00) - Intro: Why Proof-of-Work Still Matters in 2025

(1:26) - Annelise’s Background: From Moody’s to Crypto and the ICO Task Force

(5:12) - Why Kadena Chose Multi-Chain Proof-of-Work

(8:13) - Merging TradFi & DeFi: Tokenization and Real-World Assets

(12:34) - Institutional Adoption: What They Want (and Don’t)

(17:12) - Building a Business Layer on Top of Kadena

(20:05) - Fan Tokens, Fashion NFTs & Global Consumer Use Cases

(24:01) - Who Kadena Funds and Why

(27:23) - The Challenge of Regulated DeFi and the U.S. Compliance Angle

(30:00) - The Future of DeFi: Access, Collateral, and Mortgages

(34:04) - M&A in Crypto and Where Kadena Is Looking

(37:35) - How L1s Are Competing: Devs, Regulation, and TVL

(40:18) - Why Private Chains May Struggle vs Public Chains

(42:26) - Final Advice: Stay Curious, Be Resilient, Build in Public

You can subscribe to the podcast on Spotify, Apple or YouTube.If you like the show, please let us know by leaving a review!Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZApple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141Follow us on XJacquelyn: https://twitter.com/jacqmelinekTalking Tokens: https://twitter.com/_TalkingTokensFollow us on InstagramTalking Tokens: https://www.instagram.com/_talkingtokens/

On today’s Talking Tokens episode, Jacquelyn sits down live at the Finance Leaders Collective with Jonas Kristensen, Head of Wintermute Ventures — the investment arm of one of crypto’s most prolific trading firms. With over 100 startup investments since 2019, Wintermute has become a force in early-stage crypto VC.

Jonas shares how they spot high-conviction founders, why stablecoins are the hottest sector right now, and how regulation, memecoins, and institutional appetite are shaping the space. He also reflects on the impact of Circle’s IPO, and why prediction markets are his next big curiosity.

Whether it’s DeFi, stablecoins, or new rails like tokenized equities, Jonas explains what’s real, what’s noise, and how Wintermute plans to keep deploying — in bull and bear markets alike.

TIMESTAMPS

(0:00) - Intro

(0:46) - Who is Jonas Kristensen & how Wintermute Ventures operates

(1:46) - Why Wintermute focuses on infrastructure and trades off its own balance sheet

(2:34) - State of crypto VC in 2025: active, early-stage heavy, regulation turning

(4:03) - Stablecoin builders from the bear market are now winning

(5:44) - How U.S. elections + Robinhood’s token push reshaped the market

(7:24) - What VCs look for in early-stage crypto founders today

(8:30) - Circle IPO, public demand, and stablecoin market exposure

(10:25) - Three real PMF products: stablecoins, perp trading, Bitcoin

(11:31) - Going mainstream: ETFs, neobanks, and new distribution rails

(16:03) - Prediction markets: untapped trading frontier with big potential

If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Jacquelyn: https://twitter.com/jacqmelinek Talking Tokens: https://twitter.com/_TalkingTokens

Talking Tokens: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

On today’s Talking Tokens episode, Jacquelyn sat down with Misha Putiatin, co-founder of Symbiotic — the cross-chain staking protocol that quietly raised $29M in April from Pantera, Coinbase Ventures, and 100+ angels.

Rather than announce with a whitepaper, Symbiotic launched with product in hand — already live across 16 networks. Misha dives deep into why staking infrastructure today is broken, how Symbiotic is enabling universal staking without one-size-fits-all assumptions, and how the team’s 25 developers built a framework adopted by 16 protocols (and counting).

They also talk about developer culture, what most people get wrong about blockchain security, and how to break out of the crypto bubble to reach real users.

TIMESTAMPS

(0:00) - Intro: Who is Misha & what is Symbiotic

(1:02) - Symbiotic’s $29M raise: not the focus here

(3:00) - What universal staking really means

(4:15) - The origin story: 25 devs, 16 networks

(6:00) - Why Symbiotic launched product-first, not with hype

(9:15) - “Whitepaper drops” vs actually building

(11:00) - How building has changed across cycles

(13:00) - Why audits cost millions (and why they matter)

(15:00) - What “universal” staking means in practice

(17:00) - Are protocols coming to Symbiotic — or vice versa?

(19:00) - How big can this get?

(21:00) - The challenge of one-size-fits-all security

(23:00) - Where today’s staking systems fall short

(25:00) - Breaking the crypto echo chamber

(27:00) - Is blockchain security fundamentally broken?

(29:00) - Why people need to look under the hood

(30:00) - What the $29M raise will actually fund

(33:00) - Dev culture: what people don’t understand

(35:00) - The long-term vision for staking infrastructure

(37:00) - What it’ll take to coordinate cross-chain security

(38:00) - Multichain future: inevitable or idealistic?

(40:00) - Final advice from Misha: don’t rush the story

If you like the show, please let us know by leaving a review!

Spotify: https://open.spotify.com/show/0LOgWxIQ0NnNUD5eXsSuoZ

Apple Podcast: https://podcasts.apple.com/us/podcast/talking-tokens/id1743669141

Jacquelyn: https://twitter.com/jacqmelinek

Talking Tokens: https://twitter.com/_TalkingTokens

Talking Tokens: https://www.instagram.com/_talkingtokens/

Note: This podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

TIMESTAMPSYou can subscribe to the podcast on Spotify, Apple or YouTube.Follow us on XFollow us on Instagram