『The Crypto Conversation』のカバーアート

The Crypto Conversation

The Crypto Conversation

著者： Brave New Coin
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Brave New Coin's Crypto Conversation talks to the key people creating the Bitcoin, blockchain, and cryptocurrency future. Hosted by Andy Pickering, learn how this rapidly evolving industry is reshaping the world as we move towards decentralized finance, NFTs and Web3. 個人ファイナンス 経済学
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  • Shufti – Fighting AI Fraud With AI

    Shufti – Fighting AI Fraud With AI
    2026/07/15
    Tom Gadsden is Vice President of Product at Shufti, the London-based identity-verification and fraud-prevention platform built to let businesses onboard and screen users across borders in seconds rather than days. Gadsden has spent more than a decade building identity and financial-crime products, with earlier roles at credit bureau Experian and in card payments, giving him a close view of how fraud has scaled from a cottage problem into an industry. Why you should listen Shufti sits at an awkward and revealing intersection of the crypto economy. Bitcoin was designed to strip out gatekeepers; Shufti, and the compliance layer it represents, exists to put a version of them back. Gadsden doesn't pretend that tension away. He accepts that know-your-customer checks are anathema to part of the crypto community, and that self-hosted wallets will always let people move funds outside the system. But where crypto collides with fiat on- and off-ramps, governments have decided they want to see where money comes from and where it goes, and firms like Shufti, alongside chain-analytics players such as Chainalysis and Elliptic, are how businesses meet that expectation. He reaches for a useful historical parallel: the card-payments crackdown that arrived with Europe's PSD2 rules, when regulators decided the fraud losses banks had quietly tolerated were grey money the wider economy shouldn't have to absorb. Stablecoin growth, he argues, makes that scrutiny more likely, not less. The most gripping stretch of the conversation is on deepfakes, where Gadsden describes an arms race that has already run through several generations. Shufti is on the third iteration of its detection models, having moved past early metadata tells to techniques that examine how synthetic images blend, how their frequency signatures break down, and what shows up outside the visible spectrum where the generators stop trying. What has really changed, he says, is economics: AI dragged the cost of a convincing fake from tens of dollars to cents, turning fraud into something closer to a production line, with the same operator filing attempt after attempt from bed. The surge is real, with Shufti warning of a many-fold jump in deepfaked-document attacks year over year. The counterintuitive twist is that as detection has caught up, the pendulum has swung back toward human beings: real faces recruited down the pub, and money mules who sail through the initial check and only later start moving other people's money. Catching those cases, Gadsden explains, means watching for behavioral tells, funds fanning in and straight back out, high velocity and low retention, the classic setup where someone keeps fifty pounds for passing thousands through their account. Gadsden is also sharp on where the regulatory map is heading. He reads Tether's retreat from Europe, its USDT effectively pulled from regulated EU exchanges under MiCA, and Binance's withdrawn licensing bid in Greece, as a live test of whether hard rules end up pushing offshore the very firms regulators most want to supervise. On the perennial privacy question he's bracingly unsentimental: anyone uneasy about sharing their face should be far more wary of handing over an iris, a pointed nod to Sam Altman's World project, and even the privacy-forward EU Digital Identity Wallet will still ask for your name, date of birth and a biometric. His honest expectation is that a genuinely high-privacy identity system isn't coming for a decade or two. He closes on a contrarian note for his own industry: the physical passport and plastic driver's license that products like Shufti are built to read will, he suspects, erode faster than most insiders think as digital IDs become the default. It's a clear-eyed, occasionally unsettling tour of the machinery now standing between you and the fraudsters. Supporting links Stabull Finance Shufti Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.
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    26 分
  • Margin Trade – One Account, Every Market

    Margin Trade – One Account, Every Market
    2026/07/01
    Margie Feng is marketing lead at Solayer, the Solana-compatible layer-one and the team behind Margin Trade, a non-custodial perpetuals platform that lets traders hold crypto, commodities and equities in a single cross-margin account. Feng came to Web3 from Bitmain, the world's largest crypto-mining hardware maker, and before that ran PR and marketing in the automotive industry for luxury marques including BMW and Genesis, an unusual path that informs her core pitch: she markets as the non-technical user she is, translating complicated machinery into something an ordinary trader actually wants. Why you should listen Solayer began life as a Solana restaking protocol before building out InfiniSVM, a hardware-accelerated chain that already clocks around 330,000 transactions per second on the way to a million-plus, alongside Solayer Pay, a card that lets users spend stablecoins anywhere. Its new flagship is Margin Trade, which reached mainnet in June. Feng's framing of the product is refreshingly concrete. Rather than scatter your collateral across five different positions, one pool backs everything, so a trader can express a view on rates, a chip stock, gold and a token from the same account, with funding, margin and liquidations all settling onchain. The platform was built by contributors from Solayer Labs alongside former traders out of Citadel and Kraken, and that market-structure DNA shows up in details like its auto-deleveraging design, which she argues spreads the pain across many positions instead of bluntly punishing whoever happens to be winning. The conversation's sharpest thread is Feng's view of what "bringing TradFi onchain" should actually mean. The lazy version, she says, is to copy whatever Wall Street is listing. The point instead is to hand anyone the same toolkit without the gatekeeping, collapsing what historically required three separate accounts into one venue. Her clearest proof of concept is Pearl Research (PRL), the GPU-mined token tied to the AI-compute narrative that no other venue, Hyperliquid included, had listed. Margin Trade became the first platform to offer a liquid, leveraged perp on it. The marketing logic follows the same instinct: instead of announcing a listing like everyone else, tell a PRL miner they are already long the token whether they like it or not, then show them how to stop being forced long. The pitch starts from the pain, not the product, and she is candid that in a saturated perps market the only winning move is to play a different game entirely. She situates all of this in a wider migration of equities and real-world assets onchain, and in the demand that platforms like Hyperliquid have proven exists for trading everything in one place. On the mood in Solana's community she is measured rather than hyped, describing a builder base that keeps shipping through the bear market, with payments an especially active corner. The hot-take round lands her as a Bitcoin-leaning holder who keeps most of her stack in cold storage, convinced crypto will reshape the financial system, and genuinely unsure what ten years holds beyond a strong hunch that everyone ends up with a personal AI agent managing their portfolio. Fittingly for someone who thinks the future is already arriving faster than anyone can narrate it, she signs off on Black Mirror and Liu Cixin's The Three-Body Problem as the fiction that keeps feeling less like fiction. Supporting links Stabull Finance Margin Trade Margin Trade on Twitter Solayer on Twitter Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.
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    27 分
  • Ouinex – Getting Retail Out of the Shark Tank

    Ouinex – Getting Retail Out of the Shark Tank
    2026/06/22
    Ilies Larbi is the founder and CEO of Ouinex, a multi-asset trading platform built to fuse crypto and traditional markets in a single account while shielding retail traders from the structural disadvantages of conventional order books. A nearly fifteen-year veteran of New York-based forex broker FXCM, where he climbed from sales associate to Managing Director for Europe and a seat on the executive committee, the Paris-based Larbi stepped into crypto in 2022 — late by bull-run standards, as he admits, but with a clear view of the gap he wanted to fill. Why you should listen Larbi's central argument lands with a memorable image: most crypto exchanges drop retail traders into a tank full of sharks. His culprit is the central limit order book, which works beautifully in regulated venues like the NYSE where institutions compete against each other, but breaks down in crypto, where a trader tapping orders from their phone over café Wi-Fi sits on the same book as a high-frequency desk running millions in low-latency infrastructure around the clock. That asymmetry, he argues, is why retail traders so often see stop losses picked off and price action that feels suspiciously erratic. Ouinex's answer is a no-CLOB execution model: institutions are still welcome to provide liquidity, but they're allowed only to make markets, never to take them, and they get zero visibility into where retail orders are resting since those sit on Ouinex's own servers. The result is a kind of Chinese wall, with liquidity providers forced to compete purely on the best bid and ask while an aggregator passes only the sharpest prices through to traders. Ouinex lets users trade spot crypto and perpetuals alongside forex, gold, indices and equities, using their crypto as collateral rather than cashing out to fiat — and crucially, it routes the TradFi side through hundred-year-old market infrastructure rather than rebuilding it as a thin perpetual. Larbi makes the case with hard numbers, contrasting a euro-dollar or gold trade on Ouinex against the same instrument as a perp on a venue like Hyperliquid, where he claims spreads run several times wider, commissions stack on top, and the order book is far shallower. He also points to early evidence that the multi-asset thesis is working: as geopolitics roiled markets, his traders moved record volume into oil and gold while waiting for crypto to get interesting again, exactly the cross-market hedge the platform was designed to enable. Larbi raised nine million dollars entirely from his own trading community — much of it the French-speaking InteractivTrading community — with no venture capital on the cap table, which he argues leaves the platform answerable to its users rather than to investors holding a bag of future tokens. That native token, OUIX, is heading to an ICO via the company's launchpad, pitched as a low-sell-pressure utility play with fee discounts and trading cashback. He's candid that the product is still maturing, urging listeners to test it on a demo account with virtual funds and lean on Ouinex's human (not chatbot) support. The closing hot-take round rounds him out nicely: a self-described multi-chain pragmatist with unshakeable conviction in blockchain's staying power, convinced AI agents will reshape how — and whether — we trade at all, and unashamedly nostalgic for the original Avatar. Supporting links Stabull Finance Ouinex Ouinex on Twitter Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.
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    27 分
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