Fractional Banking, Narrow Banking & the Adoption of Stablecoins w/ Scott Shay, Founder of N3XT

The Biggest Problem in Tokenization Isn't Technology. It's Trust. | Tom Zschach, Former SWIFT Exec

Tom Zschach is the former Chief Innovation Officer at SWIFT, the financial messaging network that connects more than 11,500 financial institutions across more than 200 countries and underpins trillions of dollars in cross-border financial transactions every day. In this episode, Eleanor, Jacquelyn, and Gerald sit down with Tom to unpack why he believes the long-running narrative that blockchain would "replace SWIFT" always missed the point. After more than three decades in finance at firms including Bank of America, Merrill Lynch, Lehman Brothers, and Barclays, followed by six years leading SWIFT's digital asset strategy, Tom recently left to launch a new venture focused on what he believes is tokenization's biggest remaining challenge: how regulated financial institutions can accept, validate, and scale tokenized assets with trust. TIMESTAMPS: 00:00 What Does Crypto in America Mean to Tom Zschach? 03:31 Why Crypto Isn’t Replacing Finance. It’s Becoming Finance. 07:04 What SWIFT Actually Does (And What It Doesn’t Do) 12:48 Why “We’re Replacing Swift” Was Always the Wrong Pitch 20:16 Inside the Network That Connects 11,500 Financial Institutions 27:50 Why Tokenization Still Hasn't Scaled 31:17 The Missing Piece of Tokenization Nobody Is Solving 45:01 Will the Clarity Act Unlock Tokenization? 46:35 Trust, Not Technology, Is Holding Tokenization Back 48:26 Can Banks Ever Trust AI Agents? 57:48 Tokenization's Impact on Consumers 01:00:18 What's Really Behind the Banks vs. Crypto Battle? 01:02:45 What Tom Is Watching Next Subscribe to the podcast on Spotify: https://open.spotify.com/show/2Y3bQRjEQtdlNx1fxmS8hB Subscribe to the podcast on Apple: https://podcasts.apple.com/us/podcast/crypto-in-america/id1799000155 Please 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. This show is sponsored by Sei. Learn more about Sei: https://www.sei.io/ This show is sponsored by Sumsub. Get your copy of its State of the Crypto Industry report: https://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&utm_medium=influencer&utm_campaign=crypto-report_report_2026&utm_content=ciahttps://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&u[…]fluencer&utm_campaign=crypto-report_report_2026&utm_content=cia%3E Follow Crypto in America: https://x.com/CryptoAmerica_ Follow our hosts Jacquelyn: https://x.com/jacqmelinek Gerald: https://x.com/thatgerald Eleanor: https://x.com/EleanorTerrett

The "Clean Slate" Proposal That Could Rewrite Crypto's Past | Adrian Wall

The best crypto use cases haven't been invented yet according to Adrian Wall, Senior Director of U.S. Policy at Tron DAO and Managing Director of the Digital Sovereignty Alliance. A former finance executive turned crypto policy advocate, Adrian has helped shape some of Washington's biggest digital asset debates, including around the GENIUS and Clarity Acts. In this episode, Adrian breaks down his "Clean Slate" proposal to protect good-faith crypto builders from retroactive liability, explains why Jamie Dimon's reversal on stablecoin yield felt like "a kick in the teeth" after months of negotiations, and why he still believes compromise with the banking industry is the right path. We also discuss the Clarity Act's final hurdles, whether it can still pass the Senate this summer, and why Adrian believes America's biggest crypto breakthroughs won't happen until Washington gets the rules right. TIMESTAMPS: 00:00 What Crypto in America Means to Adrian 02:51 Why Adrian Entered Crypto 05:51 How TradFi's View of Crypto Changed 08:58 The Trust Problem in Crypto 11:49 Is Crypto Policy Finally Working? 14:45 The "Clean Slate" Proposal Explained 17:58 The Stablecoin Yield Fight 21:00 Is the Banking Lobby Slowing Clarity? 23:53 Why Compromise Matters 32:43 GENIUS Implementation: What's Next? 35:13 Can the Clarity Act Still Pass? 39:03 The Final Push on Capitol Hill 45:01 Why TRON Is Investing in Washington 49:50 Bringing Crypto Innovation Back to the U.S. 53:02 Tether, TRON & Washington 56:20 Will Crypto Matter in the Midterms? 1:00:53 Streaming Payments & Crypto's Next Big Use Case Subscribe to the podcast on Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbEtGQ2xhVWpaWUFXM3hsb2VZTTFMWndYWWQ3Z3xBQ3Jtc0trR0t1WWQxOEhkeVBQY2FrNF9VWERtc0xzOVVycE9IT2xkUEtMeGJXY0U5VExBZDc4RVAyRDZWNUhxb293SnRBcFhacEpTVjNxUlRFbExNcXAwSUtCM3h4NGtKbncxZkM1ZnZoRlJlcFVUNVgwUFVWUQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F2Y3bQRjEQtdlNx1fxmS8hB%3Fsi%3D813495451b9f4e4e&v=wdm8S4sb5KEhttps://open.spotify.com/show/2Y3bQRjEQtdlNx1fxmS8hB [https://open.spotify.com/show/2Y3bQRjEQtdlNx1fxmS8hB]  Subscribe to the podcast on Apple: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbTMwbng5NW5ieHhfcnE5Q1ZpMUc5amJ2VGhLQXxBQ3Jtc0tsYVFVNmMtLUNrd0lMTjF3MmQxbXlkZ2ZlUmNJaExucUFYVS1LSEdseTJXYlhVYTA5MFJBd1JfcDg3LVNvdlA0MkhpOXlZVkdDQXlVcWFEZ2ZJMzEtQ0xSZ0I2T1JtODkyR0p6bWtVR0xESTRGbHBMQQ&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Fcrypto-in-america%2Fid1799000155&v=wdm8S4sb5KE https://podcasts.apple.com/us/podcast/crypto-in-america/id1799000155 [https://podcasts.apple.com/us/podcast/crypto-in-america/id1799000155]  Please 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. This show is sponsored by Sei. Learn more about Sei: https://www.sei.io/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbHBVU3dCa0xDaURKWHVsM3VjcTl3ME4wY294Z3xBQ3Jtc0trWk5XX09qNUhsa2JDRmVMemJITWFnck5TaEdtSUp0R0xNX3Foanppa3ZDeENMSUp0ZVczNnM3bVpYa01SSkROSEVnbXVCX2NmSElBYkRxWTFBSm4xQUlzZ09OVFBRSlluakpoVVFkYUF6Y05nV0Y0UQ&q=https%3A%2F%2Fwww.sei.io%2F&v=wdm8S4sb5KE] This show is sponsored by Sumsub. Get your copy of its State of the Crypto Industry report: https://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&utm_medium=influencer&utm_campaign=crypto-report_report_2026&utm_content=ciahttps://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&u[…]fluencer&utm_campaign=crypto-report_report_2026&utm_content=cia%3E [https://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&utm_medium=influencer&utm_campaign=crypto-report_report_2026&utm_content=ciahttps://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&u%5B%E2%80%A6%5Dfluencer&utm_campaign=crypto-report_report_2026&utm_content=cia%253E]   Follow Crypto in America: https://x.com/CryptoAmerica_ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbmFheFZ5cXNxb0FIZlpnVUhoOFQxYTAxTWtaQXxBQ3Jtc0ttcWZmMy1BbG1pX3RfNWpHUExTVkdQVUViOHBiNkM4VFNnTWU5RnVtSTdjQVRBTkMzWHpYei02VEVSZk1JM3NOOFFuTnQ3WVY3R3pxd0ZHR1FRYmhHVE9vZDRyTnVrVVZ4M2tFWFVYLXJKOGcwNVFYZw&q=https%3A%2F%2Fx.com%2FCryptoAmerica_&v=wdm8S4sb5KE] Follow our hosts Jacquelyn: https://x.com/jacqmelinek [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbUFtTVlQbXJHWnVDTU51ODR0aEdVUkQ5ZlE2QXxBQ3Jtc0tuTExUZjFoUDBxUWFQaDdYallYbG5NbEpkdEZOVmd4U3pCZXd0ZEtjaUhQaWpETGZteGN2d2N4aVNmYXVPMldWa25PRWxyaFJKNHBKQWw5S3dRdHZnRnIwc0VBcVRXSjZUTnk4cHIwemZSM2U5dFdZWQ&q=https%3A%2F%2Fx.com%2Fjacqmelinek&v=wdm8S4sb5KE] Gerald: https://x.com/thatgerald [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbm9jNnN1aTN1M1lwX0JNS2xyTlBfTTc5ek8yQXxBQ3Jtc0trc2kwbzRDRXFBTjVIYkx5eDFxd180QzQ4VHZTaENlcnUtSDJtSDdGOXI2V1R5eEZzZEZRdnVfdnpWZHVpamNpNEM2VlU0c0Q0a3U2SzZHaWFCUzlsc1ZteEFHNnFjelBkQ25VRnQzcFdzazh3V1FQOA&q=https%3A%2F%2Fx.com%2Fthatgerald&v=wdm8S4sb5KE] Eleanor: https://x.com/EleanorTerrett [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbGpTRENXRnY5Xzd1QnhKM3p3a05XZm5CMGtPQXxBQ3Jtc0ttX2x3NWlRNjE4ZUoyMlFaQWdJSVp2UDJkclFIS1BwY0tnNTNEQTZXQXhnMjFXbTRFdWR3OC1JUEVWY0lrTjk1RmgyZ3Y3c0gzbDlfa3FYYko2SFkyQi13cXcyOW1Demx1OWtldG9DaHJZN3BvanV6UQ&q=https%3A%2F%2Fx.com%2FEleanorTerrett&v=wdm8S4sb5KE]

Perps, Policy & Policing Crypto | CME vs. CFTC, Clarity Act & Compliance

This week, we break down the latest market selloff as bitcoin slips below $60,000, Strategy's mounting paper losses, and a wave of crypto industry layoffs. We also examine the escalating legal fight over Illinois' proposed crypto transaction tax, what Congress' summer recess means for pending crypto legislation, and the growing uncertainty surrounding the Clarity Act. Then, we sit down with three expert guests: StarkWare General Counsel Katherine Kirkpatrick Bos to unpack the CME Group's lawsuit against the CFTC over perpetual futures, Sumsub Chief Growth Officer Ilya Brovin to discuss how AI is transforming compliance and fraud prevention, and Connecticut State Police Detective Matt Hogan to provide a front-line perspective on crypto investigations, blockchain policy, and the practical impact of regulation on law enforcement.

Is August 7th the Real Deadline for the Clarity Act? | Miller Whitehouse-Levine

The clock is ticking on the Clarity Act. In this episode, recorded at the Solana Policy Institute's Washington and Wall Street event in Chicago, SPI founder and CEO Miller Whitehouse-Levine explains why he believes August 7 is the Senate's last real opportunity to pass crypto market structure legislation this Congress and why he's grown frustrated with calls for more time after 18 months of negotiations. Miller breaks down the final hurdles standing in the bill's way, including the battle over the Blockchain Regulatory Certainty Act (BRCA), why he believes the provision is essential to protecting software developers from criminal liability, and how ongoing negotiations with law enforcement groups could shape the bill's path forward. We also discuss the growing political influence of the crypto industry, why durable legislation matters more than temporary regulatory relief, the rise of developer-focused advocacy in Washington, and what could happen to innovation in the United States if Congress fails to act before the window closes. TIMESTAMPS:  00:00 Introduction to the Solana Policy Institute Event 01:40 Regulatory Landscape for Crypto and Perpetual Futures 03:11 The Importance of Durable Wins in Crypto Regulation 05:26 Politics and Its Impact on Crypto Regulation 06:32 Supreme Court and Independent Commissions 07:56 Clarity Act: Current Status and Expectations 10:23 The Role of Law Enforcement in Crypto Regulation 12:07 Blockchain Regulatory Certainty Act (BRCA) Overview 15:57 Potential Changes to BRCA Language 17:51 Ethics in Crypto Regulation 20:44 Political Engagement and the Developers Pack 23:06 The Future of Software Development and Regulation 25:44 Navigating Uncertainty in the Crypto Space 28:04 Impact of Leadership Changes on Crypto Cases 30:12 Future Priorities for the Solana Policy Institute Subscribe to the podcast on Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbEtGQ2xhVWpaWUFXM3hsb2VZTTFMWndYWWQ3Z3xBQ3Jtc0trR0t1WWQxOEhkeVBQY2FrNF9VWERtc0xzOVVycE9IT2xkUEtMeGJXY0U5VExBZDc4RVAyRDZWNUhxb293SnRBcFhacEpTVjNxUlRFbExNcXAwSUtCM3h4NGtKbncxZkM1ZnZoRlJlcFVUNVgwUFVWUQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F2Y3bQRjEQtdlNx1fxmS8hB%3Fsi%3D813495451b9f4e4e&v=wdm8S4sb5KEhttps://open.spotify.com/show/2Y3bQRjEQtdlNx1fxmS8hB [https://open.spotify.com/show/2Y3bQRjEQtdlNx1fxmS8hB]  Subscribe to the podcast on Apple: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbTMwbng5NW5ieHhfcnE5Q1ZpMUc5amJ2VGhLQXxBQ3Jtc0tsYVFVNmMtLUNrd0lMTjF3MmQxbXlkZ2ZlUmNJaExucUFYVS1LSEdseTJXYlhVYTA5MFJBd1JfcDg3LVNvdlA0MkhpOXlZVkdDQXlVcWFEZ2ZJMzEtQ0xSZ0I2T1JtODkyR0p6bWtVR0xESTRGbHBMQQ&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Fcrypto-in-america%2Fid1799000155&v=wdm8S4sb5KE https://podcasts.apple.com/us/podcast/crypto-in-america/id1799000155 [https://podcasts.apple.com/us/podcast/crypto-in-america/id1799000155]  Please 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. This show is sponsored by Sei. Learn more about Sei: https://www.sei.io/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbHBVU3dCa0xDaURKWHVsM3VjcTl3ME4wY294Z3xBQ3Jtc0trWk5XX09qNUhsa2JDRmVMemJITWFnck5TaEdtSUp0R0xNX3Foanppa3ZDeENMSUp0ZVczNnM3bVpYa01SSkROSEVnbXVCX2NmSElBYkRxWTFBSm4xQUlzZ09OVFBRSlluakpoVVFkYUF6Y05nV0Y0UQ&q=https%3A%2F%2Fwww.sei.io%2F&v=wdm8S4sb5KE] This show is sponsored by Sumsub. Get your copy of its State of the Crypto Industry report: https://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&utm_medium=influencer&utm_campaign=crypto-report_report_2026&utm_content=ciahttps://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&u[…]fluencer&utm_campaign=crypto-report_report_2026&utm_content=cia%3E [https://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&utm_medium=influencer&utm_campaign=crypto-report_report_2026&utm_content=ciahttps://sumsub.com/crypto-industry-report-2026/?utm_source=influencer-newsletter&u%5B%E2%80%A6%5Dfluencer&utm_campaign=crypto-report_report_2026&utm_content=cia%253E]   Follow Crypto in America: https://x.com/CryptoAmerica_ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbmFheFZ5cXNxb0FIZlpnVUhoOFQxYTAxTWtaQXxBQ3Jtc0ttcWZmMy1BbG1pX3RfNWpHUExTVkdQVUViOHBiNkM4VFNnTWU5RnVtSTdjQVRBTkMzWHpYei02VEVSZk1JM3NOOFFuTnQ3WVY3R3pxd0ZHR1FRYmhHVE9vZDRyTnVrVVZ4M2tFWFVYLXJKOGcwNVFYZw&q=https%3A%2F%2Fx.com%2FCryptoAmerica_&v=wdm8S4sb5KE] Follow our hosts Jacquelyn: https://x.com/jacqmelinek [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbUFtTVlQbXJHWnVDTU51ODR0aEdVUkQ5ZlE2QXxBQ3Jtc0tuTExUZjFoUDBxUWFQaDdYallYbG5NbEpkdEZOVmd4U3pCZXd0ZEtjaUhQaWpETGZteGN2d2N4aVNmYXVPMldWa25PRWxyaFJKNHBKQWw5S3dRdHZnRnIwc0VBcVRXSjZUTnk4cHIwemZSM2U5dFdZWQ&q=https%3A%2F%2Fx.com%2Fjacqmelinek&v=wdm8S4sb5KE] Gerald: https://x.com/thatgerald [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbm9jNnN1aTN1M1lwX0JNS2xyTlBfTTc5ek8yQXxBQ3Jtc0trc2kwbzRDRXFBTjVIYkx5eDFxd180QzQ4VHZTaENlcnUtSDJtSDdGOXI2V1R5eEZzZEZRdnVfdnpWZHVpamNpNEM2VlU0c0Q0a3U2SzZHaWFCUzlsc1ZteEFHNnFjelBkQ25VRnQzcFdzazh3V1FQOA&q=https%3A%2F%2Fx.com%2Fthatgerald&v=wdm8S4sb5KE] Eleanor: https://x.com/EleanorTerrett [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbGpTRENXRnY5Xzd1QnhKM3p3a05XZm5CMGtPQXxBQ3Jtc0ttX2x3NWlRNjE4ZUoyMlFaQWdJSVp2UDJkclFIS1BwY0tnNTNEQTZXQXhnMjFXbTRFdWR3OC1JUEVWY0lrTjk1RmgyZ3Y3c0gzbDlfa3FYYko2SFkyQi13cXcyOW1Demx1OWtldG9DaHJZN3BvanV6UQ&q=https%3A%2F%2Fx.com%2FEleanorTerrett&v=wdm8S4sb5KE]

CME vs. CFTC, SpaceX HYPE, and Wall Street's Tokenization Push

The crypto industry is closely watching a lawsuit between CME and the CFTC that could shape the future of innovation in U.S. derivatives markets. We break down what's at stake for perpetual futures and other crypto-native products with Hyperliquid Strategies CEO David Schamis and 250 Digital CEO Chris Perkins. Plus, a new coalition backed by some of Wall Street's biggest names is pushing to modernize the regulatory framework for tokenized markets. Chris Hayes, Executive Director of the Coalition for Tokenized Markets, joins us to discuss the policy changes still needed to make the U.S. a global leader in tokenization.