In this Consensus Hong Kong 2026 panel, we dive into the next chapter of on-chain finance: the convergence of DeFi and CeFi — and why crypto prime brokerage may become the infrastructure layer for institutional trading.

From portfolio margin across venues and capital efficiency, to stablecoin balance sheets, oracle risk, and the one threat everyone keeps coming back to… counterparty risk. We break down how prime brokers are bridging siloed liquidity pools, enabling cross-collateral, and rethinking risk management for a world of 24/7 markets.

- DeFi vs CeFi: why convergence is accelerating now

- Prime brokerage in crypto: the "missing layer" for hedge funds

- Portfolio margin across exchanges + on-chain venues (cross-venue risk engines)

- Capital efficiency: moving beyond over-collateralization in DeFi

- Counterparty risk vs smart contract risk — what institutions actually fear

- Off-exchange settlement & custody: what works, what doesn't

- Interest rate models & "dynamic spread": sharing upside with lenders

- Oracles, pricing, liquidation: the two hard problems in DeFi risk management

- The crypto "risk-free rate": SOFR, Treasuries, staking — where does it converge?

- Tokenized markets (RWA): why crypto-native prime brokers may have an edge

As TradFi and DeFi collide, the winners will be the platforms that deliver capital efficiency + transparency + accountability — without blowing up.

—

🎙 Featuring:

• Sam MacPherson - CEO and co-founder at Spark

• Serhii Tyshchenko - CEO and co-founder of Arkis

• Oleksandr Proskurin - Co-founder/CPO at Arkis

• Moderated by Henri Arslanian

Alicia Kao, Managing Director at KuCoin — one of the most globally active crypto exchanges. We explore how centralised exchanges are evolving in a post-DeFi world, KuCoin's global regulatory strategy, and why payment products may lead crypto's next wave.

- Why centralised exchanges are no longer just for trading

- KuCoin's licensing moves in Europe, Australia, and beyond

- Will CEXs and TradFi converge over the next 5–10 years?

- How KuCoin is adapting to new institutional and retail demands

- Payment products, stablecoins, and the $14T market ahead

- What differentiates KuCoin in an increasingly competitive exchange space

- The biggest challenge for crypto exchanges in 2026 A sharp look at how the infrastructure of crypto is maturing across global markets.

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With Erin West, former prosecutor (26+ years) and founder of Operation Shamrock, one of the leading global initiatives fighting pig butchering scams and the organized crime networks behind them.

Pig butchering is no longer a niche fraud story. We are living in a scam-demic. These scams are industrial-scale operations run out of compounds across Southeast Asia, and they are targeting everyday people — not just crypto natives. Doctors. Students. Professionals. Families. People are losing everything… and often being pushed into debt.

In this episode, we discuss:

- What pig butchering scams really are

- Why they are so effective psychologically

- How organized crime is using crypto as the main payment rail

- The role of exchanges, stablecoins, and compliance gaps

- Why crypto ATMs are "theft machines"

- How AI and deepfakes are making scams harder to detect

- The disturbing link between scams and human trafficking

- Why shame prevents victims from reporting

- What to do immediately if you suspect you are being scammed This is one of the most important conversations happening in crypto today.

Powered by ACX Compliance - the world's largest crypto compliance specialised managed services provider.

YouTube: https://bit.ly/4kRnPIu

With Romain Bordenave, a physical security expert with years of experience operating in high-risk environments including Colombia and Mexico.

We discuss why crypto entrepreneurs are increasingly being targeted — and what practical steps individuals can take to reduce risk.

- Why crypto founders are becoming high-value targets

- Why criminals believe crypto is anonymous (and why they're wrong)

- The role of social media and "showing wealth" in victim selection

- Why kidnappings are often underreported globally

- How kidnapping tactics differ across regions (France vs Latin America)

- What to do if someone is kidnapped

- Why contacting law enforcement is often the right move

- How to think about personal security as crypto goes mainstream

This podcast is sponsored by BRON

Learn more through the link: https://go.bron.org/henriarslanian09

Andrej Majcen, Co-Founder and Group CEO of Bitcoin Suisse — one of the world's oldest crypto firms.

We discuss market volatility, institutional trends, regulation, and the long game of building in crypto.

- How Bitcoin Suisse evolved from retail clients to sovereign wealth funds

- The biggest challenge for crypto firms in 2026

- Why regulatory clarity unlocks institutional adoption

- The impact of ETFs, elections, and geopolitics on market sentiment

- Strategic advice for crypto founders facing volatility

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With Janet Adams, COO, SingularityNET and one of the leading voices at the intersection of AI and crypto. We discuss why decentralised artificial general intelligence (AGI) is the next frontier—and why it must not be left in the hands of Big Tech.

- Why decentralised AGI may beat centralised Big Tech AI

- How open-source tools are accelerating global AI collaboration

- The ethical argument for community-led AI governance

- What role the Middle East—especially the UAE—can play in global AI and crypto leadership

- Why world models could unlock superhuman capabilities

- The birth of Zaka and AGI use cases from the region Powered by Phoenix Group

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My interview with Saqr Ereiqat, Secretary General, Dubai Digital Asset Association and a key voice in the UAE's digital asset evolution. We explore how the UAE became one of the world's most crypto-friendly jurisdictions and what other governments can learn from its approach.

- Why the #UAE became a global magnet for crypto firms

- The importance of regulatory clarity in attracting digital asset companies

- How #Dubai is building a thriving blockchain ecosystem from the ground up

- The role of Crypto Oasis in education, infrastructure, and policy

- What's next for tokenisation, DeFi, and real-world asset adoption in the region

- Lessons for policymakers from the UAE's proactive crypto stance

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YouTube: https://bit.ly/4rP31DP

With BitGo CEO Mike Belshe following the company's IPO. We unpack what this milestone means for the crypto industry, the future of digital asset banking, and what's next for BitGo.

🔹 What going public means for BitGo and its clients

🔹 Why BitGo is more than just a custodian

🔹 The debate over stablecoin yield: crypto vs traditional banks

🔹 Why 100% reserve banks could redefine the future of finance

🔹 BitGo's global regulatory strategy and product roadmap

🔹 Advice from Mike Belshe to crypto founders on going public

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YouTube: https://bit.ly/45WfsoH

My interview with Jason Brett, Managing Director at Key Bridge Advisors and Policy Advisor at the Wall Street Blockchain Alliance. We unpack the political and regulatory gridlock unfolding around stablecoin yield, tokenized securities, and DeFi in Washington.

- Why the Genius Act's pro-stablecoin stance is now being re-litigated

- The growing divide between the crypto lobby and banking lobby

- Why regulators are stuck applying old laws to new tech

- The SEC's innovation exemption—and hedge fund pushback

- DeFi's AML dilemma: Is there a third way beyond front-end KYC?

- What real compromise could look like for stablecoin yields

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YouTube: https://bit.ly/3ZliLSE

Oliver Tonkin joins us to discuss how stablecoins are quietly replacing traditional cross-border payment rails.

- Why emerging markets are leading stablecoin adoption for global payments

- How stablecoins reduce settlement times and costs for corporates

- The rise of stablecoin-powered settlement networks beyond SWIFT

- Why regulated stablecoins are helping ease banking concerns

- The growing role of Circle, Ripple, and others in cross-border transactions

- The challenges of on-ramps and off-ramps—and how they're being solved

- Why regulatory clarity is a major catalyst for corporate adoption

- Who stands to lose in the shift to blockchain payments: legacy banks or card networks?

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YouTube: https://bit.ly/4q877FD