Public Key

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Everything You Need To Know About the Tokenization of Assets Jun 24, 2024

Show notes

Wall Street is buzzing with tons of digital asset acronyms like DLT, CBDCs, RWA and Bitcoin ETFs. But what does it all mean? Well, Ian Andrews (CMO, Chainalysis) sits down with Naresh Nagia (Independent Senior Advisor, Deloitte) for a thoughtful conversation on everything tokenization and how it will disrupt the traditional financial banking system.

Naresh shares his expertise in financial services and highlights the potential benefits of DLT, such as operational efficiency and the ability to mobilize collateral.

He also discusses the importance of legal basis, KYC/AML regulations, and cybersecurity in the adoption of DLT and the implementation of smart contracts into the financial ecosystem.
Naresh expresses his preference for wholesale CBDC over retail CBDC and emphasizes the significance of Project Agora which is a major project launched by the Bank for International Settlements (BIS) for central banks worldwide to explore tokenization of cross-border payments

Minute-by-minute episode breakdown

2 | The role of an Independent Senior Advisor at Deloitte and bridging traditional finance and the future of Distributed Ledger Technology (DLT)

5 | Envisioning DLT disrupting the traditional financial systems

10 | Smart Contracts are neither smart or contracts

14 | Decentralized Ledgers and Bitcoin ETFs: TradFi meets Crypto

17 | Project Agora: How the Bank for International Settlements is pioneering trust in blockchain technology for cross border payments

20 | The future of stablecoins in global finance and debate over retail vs wholesale CBDCs

26 | The realistic applications of Real World Asset (RWA) Tokenization and what to look

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: Blockchain & Digital Assets With Deloitte, Trust is non-fungible™
Report: Central Bank Digital Currencies: Building Block of the Future of Value Transfer
Article: Tokenization in financial services: Embracing a new ecosystem
Project: Project Agorá: Central Banks and banking sector embark on major project to explore tokenization of cross-border payments
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Report: The Chainalysis Crypto Spring Report (Download Now)
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Naresh Nagia (Independent Senior Advisor, Deloitte)

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Crypto Exchange Growth Amidst Regulatory Challenges Jun 17, 2024

Show notes

“You might think it's risky now to enter crypto. But I can promise you that time is going to flip very quickly where it's going to be risky not to enter crypto” - Farzam Ehsani
Capital controls and Government bans have always made launching a crypto exchange in Africa challenging and in this episode, Ian Andrews (CMO, Chainalysis) sits down with Farzam Ehsani (Co-founder and CEO, VALR), who discusses the journey of South Africa's largest cryptocurrency exchange,from the company's inception in 2018 to securing multiple global licenses.
Farzam shares insights on financial sovereignty, regulatory challenges, and the evolving crypto landscape, while reflecting on transitioning from banking to crypto and underscores the importance of integrity and choice in finance.
He announces The VALR Grand Slam trading competition, where there is a $60 Million USDT prize pool and looks forward to expanding VALR's global footprint and making cryptocurrencies more accessible through innovative financial solutions.

Minute-by-minute episode breakdown

2 | Farzam’s introduction to Bitcoin and how it helped him understand the traditional finance ecosystem

4 | The balance of self sovereignty and acting as a custodial crypto exchange

7 | How traditional banks decided to move into crypto and the launch of VALR crypto exchange

15 | The rigorous process of obtaining licenses in multiple jurisdictions and adhering to international regulatory requirements and capital controls

25 | Understanding whether VALR is appealing to retail or institutional clients or both

30 | Is VALR launching its own exchange token or security token?

33 | The challenges with listing tokens and keeping up with customer demand on memecoins

36 | VALR raises $50 million in Africa’s largest ever crypto raise and even turned away investors

38 | VALR announces $60 Million Grand Slam of Trading Competitions

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Farzam Ehsani (Co-founder and CEO, VALR)

The Technology that will Change the Future of Crypto Jun 10, 2024

Show notes

Whenwe started this podcast just over 2 years ago, Bitcoin ordinals and inscriptions weren’t even born yet and centralized crypto exchanges releasing their own wallets sounded like fanciful thinking at best.
But here we are as these new and evolving technologies are leading the evolution of Bitcoin and the cryptocurrency industry at large. In this episode, Ian Andrews (CMO, Chainalysis) sits down with Jason Lau (Chief Innovation Officer, OKX) who shares his insights and observations from his recent global tour, where he attended conferences in New York, Paris, Dubai, and Brazil.

Jason highlights the growing momentum and enthusiasm in the crypto and Web3 space, as well as the importance of localizing products and services to cater to diverse user bases.
Jason also discusses OK Group's focus on self-custody and the launch of their OKX wallet, which aims to empower users to explore the world of decentralized finance (DeFi).
Additionally, he touches on OK Group's Layer 2 network (X Layer), their foray into inscriptions (NFTs on Bitcoin) with a new marketplace and their efforts to cater to institutional clients.

Minute-by-minute episode breakdown

2 | Global crypto enthusiasm and regulatory conversations from NYC, Dubai and Brazil

4 | OK Groups International expansion and broad customer base

7 | Advancing transparency and self-custody in crypto exchanges and understanding the evolution of the proof of reserve audits

11 | Embracing Web3 through user-friendly crypto wallets and building a L2 blockchain (X Layer)

16 | The evolving role of crypto exchanges and the impact of DeFi Regulation

22 | Exploring the impact of inscriptions on the Bitcoin network and whether NFTs are Dead

25 | Innovating institutional crypto trading and custody solutions

28 | OKX's upcoming Web3 initiatives with McLaren F1 and Manchester City FC

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: OKX: Faster, better, stronger than your average crypto exchange
Website: Ignite your creativity: X Layer is a ZK-powered layer 2 network
Article: About inscriptions and how they're shaping Web3's growth
Announcement: OKX has Teamed Up with McLaren Racing to Honor Senna's Legacy in Monaco
Blog: Chainalysis in Action: Illicit Residential Proxy Service Shut Down by Law Enforcement, Three Administrators Sanctioned by OFAC
Event: TraceDC (Early Bird Ticket Prices available until June 15, 2024)
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Jason Lau (Chief Innovation Officer, OKX)

Cracking Down on SIM-Swapping, Pig Butchering and Crypto Jun 03, 2024

Show notes

“We swore an oath to uphold the Constitution of the United States… But nowhere in there does it say, 'Oh, except for the internet. We can't go into the internet realm or the crypto realm.” - Tony Moore
Cryptocurrency has always been unchartered territory for law enforcement all around the world, but the crypto-related crimes are too big to deny and in this episode, Ian Andrews (CMO, Chainalysis) sits down with Tony Moore (Deputy Sheriff, Los Angeles County Sheriff's Department) who has been teaching the law enforcement community about Bitcoin since the early days.

Tony shares his experiences investigating cases involving crypto, including social media parties, crypto ATM scams, pig butchering and SIM-swapping, while recognizing the challenges of staying ahead of criminals in the ever-evolving crypto landscape.

He reinforces the importance of reporting crimes, the challenges of cross-jurisdictional investigations, and the future of blockchain and AI.

Minute-by-minute episode breakdown

2 | Childhood dreams of Starsky & Hutch to joining Law Enforcement

4 | Tony Describes his path into teaching other LEAs about internet and then crypto crimes

6 | Cracking Down on social media-advertised Nitrous Oxide (NOS) parties

10 | Early encounters with crypto in Law Enforcement

15 | Balancing cryptocurrency ATM regulation and innovation

19 | Combating Sim-Swapping and Pig Butchering Scams while maintaining effective reporting

25 | Tackling crypto scams across jurisdictions and forging international policing partnerships

28 | Master cryptoverse policing in Tony’s new 5 day course

34 | Embracing continuous learning in AI and the evolving crypto landscape

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Tony Moore (Deputy Sheriff, Los Angeles County Sheriff's Department)

Ransomware and the Crypto Threat Landscape in 2024 May 27, 2024

Show notes

Fresh off the stage of the Links Conference, Ian Andrews (CMO, Chainalysis) speaks to Andrew Davis (General Counsel, Kivu Consulting), who presented in front of a packed house and shared insights about new ransomware strategies and how companies can better protect themselves.
Andrew discusses the evolving landscape of ransomware attacks and the challenges faced by victim organizations when deciding whether or not to make payment.
He shares the wide spectrum of new typologies, including cyber extortion and data theft and how the major exploits of pharmacy payment processors and oil pipelines has attracted law enforcement to take swift action against ransomware groups.
Andrew also highlights the most common attack vectors and social engineering attack vectors, while presenting the new challenges that AI will have on deep fakes and image/video modifications used by ransomware attackers.

Minute-by-minute episode breakdown

2 | Overflowing Interest in Cybersecurity at Chainalysis Links Conference 2024

4 | Rise in cyber extortion and data theft and strategies for handling ransomware attacks

8 | Negotiating ransomware demands and law enforcement dynamics

12 | Strategies and sanctions risks in ransomware payment decisions

17 | Ransomware attack disrupts major pharmacy companies, oil pipelines and casinos

21 | Debating the ban on ransomware payments and understanding Initial Access Brokers (IACs)

23 | The perils of reused passwords, account breaches and sophisticated fake recruiting attack vectors

28 | The evolving threat of AI and its role in sophisticated ransom attacks

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: Kivu: We fight cybercrime. We protect humanity
Article: Can Organizations Still Pay Ransomware Demands?
Article: Emerging Threat Alert: Drive-By-Compromise On The Rise As Gootloader Malware Exploits Seo Poisoning To Target Victims
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog: Understanding Crypto Drainers
Blog: Ransomware Payments Exceed $1 Billion in 2023, Hitting Record High After 2022 Decline
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments
Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Andrew Davis (General Counsel, Kivu Consulting)

Terrorist Financing in the Age of Cryptocurrency May 22, 2024

Show notes

"In a way, if you were a juror on this case, you got educated on cryptocurrency, terrorist financing, and also the Syrian Civil War." - Edward Burns

In this episode, Ian Andrews (CMO, Chainalysis) has a full house as he speaks to several key members of the Manhattan District Attorney's Office, including the District Attorney, Alvin Bragg, the Assistant District Attorney, Edward Burns and the Chief of the Counterterrorism Unit, David Stuart. As well as Dan Heesemann, Intelligence Research Specialist at the NYPD.
The team discusses a fascinating case involving cryptocurrency and terrorism financing and shares how they were able to uncover an individual sending money to a terrorist group in Syria and planning violent attacks on American soil.
They walk through the challenges of presenting technical evidence in court and the surprising defense strategy used by the defendant.
This gripping episode sheds light on the intersection of crime, cryptocurrency, and counterterrorism efforts and the persistence and collaboration law enforcement and the District Attorney’s office have to utilize in order to bring these criminals to justice.

Minute-by-minute episode breakdown

2 | Background of the public sector guests and their entrance into cryptocurrency

4 | The People vs. Victoria Jacobs: The cryptocurrency terrorist financing case

9 | Unveiling the terrorist financier's intent and tactics

14 | The elusive Salman Belarusi: Operational security mastermind

18 | Simplifying cryptocurrency for jury understanding

20 | Terrorism, cryptocurrency and the Syrian Conflict

22 | Jury deliberates for hours and finds the defendant guilty on all counts

25 | Manhattan DA, Alvin Bragg explains provides an update on sentencing and closure in case

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Alvin Bragg (District Attorney, Manhattan District Attorney's Office)
Edward Burns (Assistant District Attorney, Manhattan District Attorney's Office)
David Stuart (Chief of the Counterterrorism Unit, Manhattan District Attorney's Office)
Dan Heesemann (Intelligence Research Specialist, NYPD)

The Future of Banking, DLT & Digital Assets May 20, 2024

Show notes

"I'm not excited for what blockchain and DLTs can bring to the banking ecosystem, but I'm more excited to see how working on the same technology will bring together different market players." - Mico Curatolo

In this episode, Ian Andrews (CMO, Chainalysis) speaks to Mico Curatolo (Co-Head, DLT and Digital Assets Team) of Banca Sella, which is an established bank in Italy with a long history of innovation and cutting-edge technologies in the financial ecosystem.
Mico discusses the bank's strategy around DLT and digital assets, including their focus on launching a proprietary retail custody solution.
He explains the regulatory landscape with the implementation of MiCA and shares insights on the appetite for digital assets in Italy, the impact of the Bitcoin ETFs, and the future of stablecoins and CBDCs in Europe.

Minute-by-minute episode breakdown

2 | Exploring Banca Sella's traditional legacy and digital asset and open banking ventures

6 | The crypto and digital asset market and regulatory environment in Italy

8 | Banca Sella’s DLT, digital asset and custody strategy

11 | Dissecting Bitcoin ETFs, stablecoin regulations and the future of bank partnerships

16 | What the future of CBDCs in Europe will look like

18 | Embracing digital assets and collaborative innovation in Europe

20 | Working on cutting edge technology and collaboration of industry players

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: Banca Sella: 140 Years in Banking and Leading Innovation
Website: Sellalab: Impact Innovation Platform for SMEs
Article: Increasing the Focus on Trade-Based Money Laundering
Article: Sella bank exposes itself to Web3 with a metaverse initiative
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog - How To Use Blockchain Intelligence To Investigate Crypto Crime
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments.
Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Mico Curatolo (Co-Head, DLT and Digital Assets Team, Banca Sella)

How Crypto Fuels Trade Based Money Laundering May 15, 2024

Show notes

In this episode, Ian Andrews (CMO, Chainalysis) speaks to Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE), who is involved with investigations covering human and fentanyl trafficking, trade based money laundering and the movement of crypto in and out of the US.

They discuss the role of the newly created CITE agency in combating various threats, including terrorism, transnational organized crime, and illicit trade.

Michael also highlights the challenges of the increasing use of cryptocurrency in criminal activities such as drug trafficking and human trafficking and the importance of collaboration between public and private sectors in addressing these challenges.
Michael explains the importance of leveraging cryptocurrency analysis to support investigations and disrupt criminal networks by having a coordinated multi-agency approach.

Minute-by-minute episode breakdown

2 | Introducing customs and border protection's intelligence arm

4 | Combating transnational threats with intelligence and cryptocurrency analysis

7 | Trade Based Money Laundering (TBML): From suitcases to thumb drives

10 | The rise of crypto in illicit precursor chemical sales and drug trafficking

13 | Collection of vast amounts of data to support other agency’s investigative efforts

16 | Global collaboration for the fight against crypto related crimes

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: U.S. Customs and Border Protection (CBP): Enhancing the nation’s security through innovation, intelligence, collaboration and trust.
Article: America’s Front Line Against Fentanyl
Article: Increasing the Focus on Trade-Based Money Laundering
Registration: Digital premiere of Links 2024 (NYC Main Stage Content and more - Register Now!)
Blog: Crypto and the Opioid Crisis: What Blockchain Analysis Reveals About Global Fentanyl Sales [UPDATED 3/7/24]
Article: Emirates NBD welcomes Chainalysis to Digital Asset Lab Council
LinkedIn Post: Chainalysis is officially in 🇦🇪 Dubai!
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Tik Tok: Building trust in #blockchains among people, businesses, and governments
Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Michael Firing (Assistant Director, Field Operations, Center for Intelligence, Targeting, and Enforcement (CITE)

The Response to North Korea’s Crypto Heists May 13, 2024

Show notes

"We need to think about more creative ways in order to get at the ultimate issue here, which is that they're generating revenue for their weapons of mass destruction (WMD) and ballistic missile programs." - Jessica Peck

In this episode, Ian Andrews (CMO, Chainalysis) is lucky enough to grab Jessica Peck (Senior Counsel, US Department of Justice) and Chris Wong (Supervisory Special Agent, FBI) right off of the main stage to their experiences investigating North Korea's involvement in cryptocurrency and their efforts to track and seize stolen assets.
Chris shares his journey from working on interdicting assets to diving into the world of crypto, while Jessica discusses her transition from prosecuting weapons and narcotics cases to focusing on cybercrime and cryptocurrency-related investigations.
The trio explore the tactics used by North Korea to launder money and the effectiveness of sanctions in combating these activities. They also describe the new trends of North Koreans being unknowingly hired by blockchain companies around the world and the associated risks.

Minute-by-minute episode breakdown

2 | FBI's Involvement in intercepting North Korean mineral exports

4 | Jessica and Chris’ background and their first crypto investigation cases

7 | Thwarting North Korean crypto revenue and tracking and recovering stolen cryptocurrency

11 | Tracing North Korea's cryptocurrency laundering efficacy

17 | Evaluating the effectiveness of sanctions on cryptocurrency mixers

19 | Debating cybersecurity and risk management in crypto

25 | North Koreans being employed by crypto firms to develop smart contracts

27 | Best practices for staying safe in crypto and avoiding costly hacks

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Jessica Peck (Senior Counsel, US Department of Justice)
Chris Wong (Supervisory Special Agent, FBI)

Everything You Need to Know About Crypto Regulations in 2024 May 08, 2024

Show notes

“I think what's interesting is there is a lot of regulation in the US. It's just not cohesive and specific to this space except for places like New York and soon to be California, Louisiana.” - Thom Hook

In this episode, Ian Andrews (CMO, Chainalysis) guest Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay) summed up in one sentence what the crypto regulatory framework is like in the USA and how its impacting crypto businesses and innovation as a whole.
Thom goes on to discuss his experience working at Circle during the early days of crypto and the challenges of building a compliance program in a rapidly evolving industry.
He provides insights into MoonPay's unique business model, which focuses on retail on and off-ramp services for cryptocurrencies and NFTs and their role as a noncustodial platform.
He also touches on topics such as banking relationships, regulatory frameworks, pig butchering and other scams in the industry and the new demand for crypto lawyers in the face of increasing regulatory pressure.

Minute-by-minute episode breakdown

2 | Thom’s story of building compliance programs from Joining Circle in 2014, transitioning to Bitstamp to landing at MoonPay

4 | MoonPay’s business model of not being a crypto exchange and making it easier for innovation to have payment rails

7 | Importance of compliance and transaction monitoring in obtaining and maintaining banking relationships

12 |Differences in regulations between the US and other countries

15 | Importance of reputation and risk assessment for partner selection and key

17 | Key takeaways from the conference panel discussion with other compliance experts

19 | Using education to combat pig butchering scams and the impact of sanctions

22 | Teaching a class on crypto regulation and its focus on regulations that have the most impact

25 | Prediction of increased demand for crypto lawyers due to regulatory pressure and excitement for innovation and growth in the crypto industry in 2024

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
Thom Hook (Global Chief Compliance Officer and U.S. Chief Compliance Officer, MoonPay)

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