Bitcoin, Fiat & Rock'n'Roll

April's stablecoin surge signals a new era for institutional finance. In this special May edition of Bitcoin, Fiat & Rock’n’Roll (BFRR), we dive deep into April’s most explosive developments in crypto — from Bitcoin dominance and Ethereum’s narrative struggles to the evolving global stablecoin landscape. Hosts Alex and Michael are joined by Simon Seiter, CFO & CPO of AllUnity, one of Europe’s most ambitious euro stablecoin projects, for a timely conversation about the latest market dynamics, policy shifts, and business models shaping the digital currency ecosystem. The episode kicks off with a sharp analysis of Bitcoin and Ethereum's price action throughout April. Bitcoin showed strength amid traditional market turbulence, outperforming equities and absorbing institutional capital through record-breaking ETF inflows. Meanwhile, Ethereum lagged behind, raising new questions about its long-term value proposition — especially compared to emerging alternatives like Solana. Our focus then shifts to the rapidly evolving stablecoin sector. The team breaks down Circle’s newly filed IPO and uncovers key financial figures — revealing a growing, but heavily subsidized business model with distribution costs exceeding 60% of revenue. Simon offers behind-the-scenes insight into the economics of issuing regulated stablecoins in Europe and how the market is shaped by both U.S. dominance and European regulatory uncertainty. We also discuss PayPal’s attempt to pay interest on stablecoin holdings, the SEC’s formal declaration that USDC and USDT are not securities, and growing signs of institutional engagement — including Bank of America’s hint at entering the stablecoin space. The episode also covers Circle’s new global payment network, Revolut’s record crypto profits, Ripple’s acquisition of prime broker Hidden Road, and the birth of 21.co — a Bitcoin-native company backed by Bitfinex, Tether, and SoftBank. Finally, the episode touches on widening policy gaps between the U.S. and Europe, as U.S. regulators embrace stablecoins as a geopolitical tool, while the ECB warns against them in defense of the digital euro. We unpack what this divergence means for the future of payments, monetary sovereignty, and innovation. 🎧 Tune in for sharp takes, honest analysis, and an uncensored look into crypto’s most important financial and political battlegrounds. Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Given its advantages and disadvantages: What is our recommendation for national Bitcoin Reserves? Welcome to another episode of BFRR – Bitcoin, Fiat & Rock'n'Roll, the podcast where traditional finance, digital assets, and digital money meet! This time, hosts Jonas and Alex dive deep into one of the hottest and most debated topics in the digital asset world: Bitcoin reserves. Following earlier episodes that explored bullish and bearish perspectives with guests like Frank Schäffler (German Liberal Party) and Jürgen Schaaf (European Central Bank), Jonas and Alex now take the stage themselves. After much community interest in hearing their own views, they tackle the question head-on: Should countries build up Bitcoin reserves? The discussion kicks off with a look at the groundbreaking move by Donald Trump, who initiated the formation of a U.S. Bitcoin reserve using confiscated Bitcoins — a step that could have major implications for global crypto policy. The hosts compare U.S. strategies to Germany’s recent Bitcoin sales and explore various ideas being floated to expand the reserve without burdening taxpayers, including revaluing U.S. gold holdings and issuing Bitcoin bonds. Throughout the episode, Jonas and Alex structure the concept of "Bitcoin reserves" into three distinct types: Strategic reserves for crisis supply management (like oil or medical stockpiles) Reserves to foster monetary and financial stability (such as central bank gold holdings) Sovereign wealth fund investments (aimed at long-term financial returns) They thoughtfully weigh arguments for and against Bitcoin fitting into each model, referencing insights from their past guests and digging deep into questions like: Is Bitcoin too volatile to be a reliable reserve asset? How does it compare to gold? Can Bitcoin’s scarcity and network effects justify its inclusion in national reserves? Is the U.S. move a strategic geopolitical chess play against nations like China and Russia? Ultimately, the episode provides a well-rounded, critical yet forward-looking perspective on Bitcoin's potential role in the future of global finance. Join the debate, share your thoughts in our community, and subscribe to BFRR to stay updated on how the world of digital assets is evolving! Note: This podcast reflects the personal views of the hosts and is for informational purposes only. It does not constitute financial or investment advice. Always do your own research before making financial decisions. BFRR-Episode with Dr. Jürgen Schaaf (ECB) on the disadvantages of a Bitcoin Reserve) [https://bfrr.info/2025/03/10/downsides-of-a-bitcoin-reserve-with-ecb-advisor-dr-juergen-schaaf/] BFRR-Episode with Frank Schäffler (FDP) on the advantages of a Bitcoin Reserve - German) [https://bfrr.info/2025/02/09/why-the-fdp-demands-a-bitcoin-reserve-german/] BFRR-Episode on the fundamental value of Bitcoin - German) [https://open.spotify.com/episode/3bVSVtSlhJNZt8AnW1ndsA?si=ec698f347eba4e4c&nd=1&dlsi=8aa0e1c8b6894e19] FAZ article on the fundamental value of Bitcoin – English [https://alexanderbechtel.com/what-is-the-fair-value-of-bitcoin/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce tSransaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Can permissionless blockchains serve as financial market infrastructure? In this episode of Bitcoin, Fiat & Rock’n’Roll, hosts Alexander Bechtel and Stefan Grasmann welcome back Professor Fabian Schär of the University of Basel to discuss one of the most pressing and complex questions in financial technology today: Can permissionless blockchains serve as the foundational infrastructure for future financial markets? Professor Schär—renowned for his work at the intersection of finance, economics, and distributed ledger technology—recently authored a comprehensive report for the European Commission titled Enhancing Financial Services with Permissionless Blockchains. The conversation builds on that report, exploring how public, decentralized platforms might offer a neutral, composable, and resilient alternative to the fragmented and institutionally controlled systems we rely on today. The episode unpacks key concepts such as composability, atomicity, and the importance of governance in blockchain ecosystems. It also critically examines common misconceptions—like the notion that blockchain’s value lies primarily in programmability or fractionalization—and instead focuses on the unique governance and trust properties that permissionless platforms can offer. Together, the trio explores the shifting landscape of blockchain adoption by financial institutions, the growing interest from central banks in EVM-compatible infrastructure, and the challenges of privacy, scalability, and validator neutrality. Professor Schär does not shy away from the risks, including the potential for centralization and governance capture—even on platforms that start out open. Whether you’re a policy maker, financial professional, or blockchain researcher, this episode offers deep insights into the technical, regulatory, and philosophical questions surrounding the digital future of finance. Fabian’s paper “Enhancing financial services with permissionless blockchains” [https://op.europa.eu/en/publication-detail/-/publication/cab54e8e-ad3b-11ef-acb1-01aa75ed71a1/language-en] Coinbase Paper on permissionless blockchains [https://lnkd.in/eTZ5GndM] Episode 175 with Fabian on DeFi [https://open.spotify.com/episode/24mrb293U05ve3Uk6Wrb48?si=07dcce17ce524e46] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Insights into the research from a Pracademic that combines practical and academic work In this compelling episode of BFRR – Bitcoin, Fiat & Rock'n'Roll, we explore the evolving intersection of decentralized finance (DeFi), blockchain governance, and traditional financial systems. Our guest is Dan Liebau, founder of Lightbulb Capital and affiliate faculty member at Singapore Management University, who brings a rare combination of academic rigor and hands-on industry insight to the discussion. Dan shares his personal journey from early roles in fintech—before the term even existed—to founding a firm focused on blockchain innovation and becoming a respected voice in digital asset education. He offers a behind-the-scenes look at his transition from the trading floor to academia, and why he believes direct experimentation with new technologies is essential to meaningful research. The conversation covers several key themes: 🔹 Security Tokens vs. Utility Tokens: Dan breaks down one of his most cited papers, which offers a practical and regulatory framework for distinguishing between types of digital assets. We explore the evolution of security token offerings (STOs), their early struggles, and how they may be poised for a resurgence. 🔹 DeFi Literacy and Institutional Relevance: Referencing his 2023 paper on DeFi literacy, Dan outlines why understanding blockchain mechanics is only one part of the equation. Strategic thinking, regulatory insight, cybersecurity awareness, and ethical considerations are just as critical for institutions looking to engage with DeFi in the next decade. 🔹 The Mechanics and Challenges of DAOs: Drawing from his recent book co-authored with Sandeep Oh, Dan dives into the world of Decentralized Autonomous Organizations. We examine their philosophical foundations, real-world complications, and the nuances of DAO governance—including voting dynamics, token delegation, and centralization risks. 🔹 Bridging Traditional Finance and DAOs: Can banks work with DAOs? Can DAOs become clients of financial institutions? Dan offers a grounded perspective on how hybrid models might emerge, how DAO structures could evolve, and what it will take for blockchain-native entities to engage meaningfully with regulators and established players. 🔹 The Human Side of Decentralization: We discuss what motivates people to form or join DAOs, how communities organize and stay engaged, and whether token-driven models of work and collaboration can truly replace or enhance traditional corporate frameworks. With co-hosts Manuel and Stefan steering the conversation, this episode offers a rare blend of thought leadership, research-driven insight, and candid commentary. Whether you're a seasoned finance professional, a crypto enthusiast, or a curious observer of the digital economy, this episode provides both depth and clarity on one of the most dynamic frontiers in finance. 📩 Connect with Dan Liebau via LinkedIn or at danielliebau.org. 📢 If you enjoyed this episode, please subscribe, rate, and share it with colleagues and friends. Your support helps us bring more expert voices to the forefront of financial innovation. Lambert, T., Liebau, D. & Roosenboom, P. Security token offerings. Small Bus Econ 59, 299–325 (2022) [https://doi.org/10.1007/s11187-021-00539-9] Liebau, Daniel and Liebau, Daniel, Decentralized Finance: Impact on Financial Services and required DeFi Literacy in 2034 (October 14, 2024) [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4987462] Decentralized Autonomous Organizations: Daniel Liebau (Singapore Management University, Singapore) and Sandy Oh (Singapore Management University, Singapore) Singapore University of Social Sciences - World Scientific Future Economy Series. January 2025 [https://www.worldscientific.com/worldscibooks/10.1142/13918] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce tSransaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

BX Digital receives FINMA license In this episode of the Bitcoin, Fiat, and Rock'n'Roll podcast, host Michael Blaschke speaks with Lidia Kurt, CEO of BX Digital, a groundbreaking company in Switzerland that has recently received FINMA approval for a DLT trading facility. The episode explores BX Digital’s mission to revolutionize the trading and settlement of tokenized securities, utilizing blockchain technology in the regulated Swiss financial market. Lidia shares her background in finance and blockchain, highlighting her journey from consulting in the digital asset space to leading BX Digital’s efforts in blockchain adoption. She explains how Distributed Ledger Technology (DLT) can disrupt financial markets by changing how assets are exchanged, making the entire infrastructure more efficient and cost-effective. BX Digital’s core innovation lies in the settlement process. Lidia emphasizes how the use of blockchain can significantly reduce settlement times and costs. The platform’s hybrid approach allows for digital asset settlements with traditional fiat currencies, ensuring speed and reducing the complexity of cross-border transactions. The company offers tokenized securities such as equities, bonds, and funds, focusing on efficiency and security for banks and financial institutions. In the conversation, they also discuss the regulatory landscape in Switzerland, where BX Digital benefits from a favorable DLT law, positioning it at the forefront of financial market infrastructure innovation. Lydia talks about the company's ambition to lead a shift in financial market systems, offering a blueprint for other markets globally to follow. The episode concludes with Lydia highlighting BX Digital's vision of a future where digital assets become a core part of the financial system, paving the way for faster, cheaper, and more secure transactions. BX Digital press release on the granting of the licence by FINMA [https://bxdigital.ch/en/first-regulated-financial-market-infrastructure-for-trading-and-settlement-of-digital-assets-in-switzerland/] Blockstories-Interview with Lidia Kurt [https://blockstories.beehiiv.com/p/bx-digital-erhaelt-finma-lizenz-interview] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!