| Ticker | Direction | Speaker | Thesis | Time |
|---|---|---|---|---|
| WATCH |
Peter Van Valkenburgh
Research Director, Coin Center |
The DOJ is applying "conspiracy to money launder" statutes to software developers who publish code used by criminals, even if the devs don't control the funds. Peter notes this creates "strict liability" for publishing privacy software. Until the "Blockchain Regulatory Certainty Act" (BRCA) or similar legislation passes to explicitly exempt non-custodial software publishers, the legal risk premium on privacy protocols remains extreme. The sector is effectively uninvestable for institutions until this legal "wild goose chase" ends. WATCH (Avoid until regulatory clarity). Legislative failure leads to a permanent ban on privacy tech development in the US. | 20:23 | |
| LONG |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
LayerZero has secured partnerships with ICE (Intercontinental Exchange, parent of NYSE) and an investment from Tether (USDT) to build "global markets" and payments infrastructure on the Zero chain. This represents a shift from "tokenization experiments" to core infrastructure migration. ICE building on a permissionless chain signals high-conviction institutional adoption. Tether's direct investment suggests USDT will be the dominant medium of exchange on this high-throughput layer, reinforcing its moat against USDC. LONG. Regulatory hurdles preventing ICE from launching live markets on a permissionless chain. | 136:18 | |
| LONG |
Namik Muduroglu
Columnist, Milliyet |
MegaETH is building a "performance first" L2 but chose to "offload consensus to whoever does consensus best," explicitly naming Ethereum L1 as that layer. They view Vitalik's recent roadmap pivot as validation of this split (L1 for security, L2 for speed). The emergence of "Consumer Chains" (MegaETH) that require 100k+ TPS does not compete with ETH; it entrenches ETH as the settlement layer. As these high-performance apps grow, they pay rent to ETH for security, driving value to the base asset while abstracting execution complexity. LONG. L2s becoming parasitic to L1 revenue if data availability costs drop too low (blobs). | 7:12 | |
| LONG |
Namik Muduroglu
Columnist, Milliyet |
MegaETH has established "partnerships with players like Chainlink where we're able to enshrine oracles and provide really really powerful data feeds." High-frequency/low-latency chains (10ms block times) require oracle updates at speeds traditional push-oracles struggle with. Enshrining Chainlink at the protocol level on a high-performance chain secures LINK's relevance in the next generation of "real-time" DeFi and consumer apps. LONG. Emergence of specialized low-latency oracle competitors. | 35:26 | |
| LONG |
Brian Pellegrino
Co-founder & CEO, LayerZero Labs |
LayerZero is launching a high-performance Layer 1 blockchain called "Zero" (1M+ TPS). Brian explicitly states: "There is not going to be any net new token... ZRO is the only asset and it is going to be the underlying gas asset and staking asset." Typically, a new L1 launch involves a dilutive Token Generation Event (TGE). By consolidating the utility of a major new L1 (gas, staking, sequencing) into the existing ZRO token, the asset transitions from a pure governance/bridging token to a fundamental L1 commodity with programmatic demand from institutional partners. LONG. Technical failure of the new "Zero" architecture; failure to attract liquidity despite partnerships. | 149:57 |