In this episode, Austin chats with Santiago Roel Santos, founder of Inversion, discussing why crypto has struggled to reach mainstream adoption and what it will take to change that. Santiago explains how Inversion applies a private-equity-style model to deploy capital into real-world use cases, rather than chasing speculative cycles. He outlines why stablecoins are emerging as crypto’s strongest product-market fit, what infrastructure still needs to mature, and how regulatory clarity is shaping global distribution. The conversation also covers chain selection, the limits of “casino onboarding,” and why genuine adoption depends on building products that solve practical problems for people and businesses. 

00:00 - Understanding Inversion and Its Origins 

07:18 - Crypto's Consumer to Enterprise Shift 

12:59 - Interoperability and Choosing the Right Blockchain 

17:16 - Private Equity in a High Interest Rate Environment 

20:16 - Distribution vs. Product in Crypto 

25:50 - The Future of Crypto and Stablecoins

33:19 - Global Economic Power and Technology 

35:51 - Crypto's Impact on Corporate Structures 

40:32 - Tokenized Stocks and Market Access 

48:02 - Advice for Founders in the Crypto Space

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In this episode, Austin chats with Sid Powell, co-founder and CEO of Maple Finance, to explore how institutional credit is moving on-chain. Sid breaks down how Maple has facilitated over $5 billion in loans, how it manages risk and transparency in a post–Celsius world, and what’s next for tokenized private credit. We also discuss stablecoins, regulation, and how crypto finance is maturing for the long term.

00:00 - Understanding Maple Finance 

02:03 - Comparing Maple to Celsius 

09:39 - Institutional Clientele 

16:42 - Maple's Navigation of Different Blockchain Ecosystems 

22:58 - The Case for Vertical Integration 

23:57 - Challenges in Financial Services

25:12 - Crypto's Overall Growth 

26:49 - The Future of Banking and Crypto Adoption 

30:57 - Stablecoins and Cross-Border Payments 

38:21 - Automation and Efficiency in Crypto Lending 

44:00 - Conclusion

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In this episode, Kevin Bowers returns to explain Jump's expansion from trading to core infrastructure, centered on what he calls the "great inversion": the real bottleneck in tech isn't compute, but data and I/O. He introduces Shelby, a new storage network, as a direct challenge to the "Hotel California for Data" model used by cloud providers. This same focus on efficient data flow—not just processing power—was the key to scaling Solana with Fire Dancer. Finally, Kevin explains how FPGAs from high-frequency trading are the critical hardware solution, allowing blockchains to bypass software's inefficient "Tower of Babel" and "get close to the wire" for true high performance. 

00:00 - Expanding Beyond Trading and the Vision for Shelby 

02:31 - Challenges in Storage and Data Management 

04:37 - Building High-Performance Systems 

08:04 - The Evolution of Jump's Technology 

11:55 - The Economics of Cloud Storage 

29:07 - Fire Dancer and Frankendancer 

42:03 - The Cost of Optimization 

42:48 - Machine Learning and Custom Networks 

43:47 - Project Prioritization and Entropy 

46:48 - Challenges in High-Performance Computing 

56:38 - The Role of FPGAs in Trading and Blockchain 

01:13:45 - Future of Hardware Acceleration in Blockchain 

01:18:54 -Conclusion and Final Thoughts

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In this episode, Austin chats with Michael Repetny, a core contributor to Marinade. They discuss the history and technical details of Marinade, its role in the Solana ecosystem, and its approach to staking. Michael covers Marinade's origins in a 2021 hackathon, the development of its custom stake pool contract, and its early competition with Lido. The conversation addresses the evolution of validator economics on Solana, the impact of MEV and priority fees, and Marinade's response to sandwich attacks. They also discuss the protocol's products, including its liquid staking token (mSOL) and Marinade Native, a non-custodial delegation service. The episode concludes with a discussion on preparing for institutional adoption, the role of LSTs in ETFs, and the process of getting SOC 2 compliance. 

00:00 – Marinade’s Origins and Early Days

03:11 – Building on Solana

07:09 – Competing with Lido and the Importance of Community

10:59 – The Changing Economics of Staking

14:45 – Stake Pools, Yield, and Market Transparency

19:17 – The Marinade Marketplace

23:21 – Protected Staking Rewards & Validator Bonds

27:19 – Marinade Native

32:18 – ETFs, Institutions, and the Future of Staking

38:34 – Security, Compliance, and SOC 2 in Crypto

43:59 – The Future of Marinade and Solana Staking

46:59 – How to Get Involved with Marinade & Closing

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DISCLAIMER 

The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

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In this episode, Austin chats with Tristan (Bullet) to discuss the significant evolution of decentralized finance (DeFi), particularly focusing on the re-emergence of Central Limit Order Books (CLOBs) and the innovative development of Bullet on Solana. Tristan dives into the history of order books, their challenges in the DeFi space, and the technological advancements that are now overcoming these obstacles. They explore the unique position Bullet occupies in the Solana ecosystem, advancements in smart contract programming, the importance of co-location for trading efficiency, and the promise of ZK proofs for verifiable off-chain compute. Additionally, they cover how Bullet seeks to provide superior user experience without compromising on performance, aiming to compete with centralized exchanges while leveraging the transparency and security of blockchain technology

00:00 - The Return of CLOBs to DeFI 

01:43 - Challenges of On-Chain Order Books

03:42 - Innovations in DeFi and Solana's Role 

08:30 - How Zeta Became Bullet 

11:39 - Decentralization vs. Performance 

15:04 - Exploring Different Models for Order Books 

23:24 - Challenges in Centralized and Decentralized Trading 

24:15 - Solana's Trading Model and Its Impact 

25:52 - Pitching to Professional Traders 

26:37 - Technical Aspects and Integration 

28:25 - Market Dynamics and Maker Strategies 

31:39 - Performance Metrics and Optimization 

36:48 - Data Access and Fairness in Trading 

40:34 - Upcoming Developments and Testnet 

42:30 - Conclusion

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DBA co-founder John Charbonneau discusses his journey from TradFi to crypto, detailing his evolution from an Ethereum maximalist to a multi-chain pragmatist. He argues that as the crypto market matures beyond hype cycles, real revenue and cash flow are becoming key valuation metrics. He points to Hyperliquid's controversial rise as a prime example of the industry's struggle with decentralization, noting the irony of Solana advocates lodging critiques once used against them. Looking ahead, Charbonneau predicts successful protocols will adopt traditional functions like customer support and investor relations, viewing regulatory clarity as vital for the industry's future health and transparency.

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In this episode, Kash Dhanda of Jupiter shares his crypto career journey and his unique role blending content creation with product strategy. He delves into Jupiter's unconventional organizational structure, explaining how it fuels their rapid product development and acquisition strategy. Kash highlights the reasoning behind key initiatives such as the Drip House acquisition and Jupiter Lend, underscoring their commitment to long-term growth. The conversation also addresses the challenges of serving a diverse user base, from crypto novices to seasoned traders, and Jupiter's dedication to community support.

DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

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In this episode, Austin and Peter Van Valkenburgh Coin Center's mission and the critical role of educating policymakers. The discussion spans over Coin Center's inception, its efforts in shaping sound crypto regulations, and its battles against adverse policies. Peter sheds light on Coin Center's ongoing lawsuits, the implications of recent DOJ guidance, and the controversy surrounding meme coins in American politics. Peter also provides insights into future challenges and opportunities in crypto regulation, emphasizing the vital importance of nuanced policies that balance innovation with oversight. Whether you're a crypto enthusiast, policymaker, or just curious about the intersections of technology and regulation, this episode offers valuable perspectives. 
 

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In this episode, Austin chats with Ouriel Ohayon (Zengo) about the evolving landscape of crypto wallets and wallet security. The conversation dives into the history and challenges of crypto custody solutions, from the problems with centralized custodians and self-custody methods to the sophistication of hacking groups. Ouriel discusses how Zengo is tackling these issues with their MPC wallets where there's "nothing to give away". He provides insights on the unique security features of Zengo, such as its passwordless experience, recovery protocols, theft protection, and physical attack safeguards. The episode also explores the business model of crypto wallets and how they can generate revenue while maintaining user experience and security. 
 

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