Mike Lempres on Silvergate’s Collapse, Bank Regulation, and Debanking (EP.593)
On The Brink with Castle Island
Release Date: 02/05/2025
Fred Hsu and Michael Ho (D3) on Creating Efficient Domain Name Markets (EP.614)
On The Brink with Castle Island
Wyatt sits down with Fred Hsu and Michael Ho of to talk domain markets. In this episode: The existing domain name industry and legacy systems An interoperable marketplace for domains New financial promitives around domains and RWAs
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Yuval Rooz and Eric Saraniecki (Digital Asset) on the Canton Network (EP.613)
On The Brink with Castle Island
Yuval Rooz and Eric Saraniecki, co-founders of Digital Asset join the show. In this episode we discuss: The origins of Digital Asset and the path to starting the firm. Views on privacy in the context of public blockchains. How enterprises and financial institutions are approaching tokenizing assets and leveraging blockchain technology. Examples of how on-chain privacy enables use cases in collateral management and stablecoin payments. The role of the Canton Network public blockchain for enabling institutional use cases. How Canton Network works from a design perspective. To learn...
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Weekly Roundup 04/11/25 (Tether’s new stablecoin, Signature, dedollarization, DoJ disbands crypto team) (EP.612)
On The Brink with Castle Island
Matt and Nic are back with another week of news and deals. In this episode: Is dedollarization happening? The SEC's Division of Corporate Finance released a "" The US Justice Department has its National Cryptocurrency Enforcement team The SEC releases new guidance on securities offerings in crypto markets FDIC Chair relaxes rules on crypto activities at banks Paul Atkins is confirmed The SEC has approved options trading for spot ETH ETFs Tether is exploring a US stablecoin Janover is doing a Microstrategy for SOL strategy Michelle Bowman is launching a review...
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Wyatt Lonergan and Juan Lopez (Vaneck Ventures) on Stablecoin Adoption and The Institutionalization of Crypto (EP.611)
On The Brink with Castle Island
and of join the show to talk stablecoins and institutionalization. In this episode, we cover: The landscape of stablecoin growth and activity A world with many stablecoins vs few stablecoins Winning/losing companies in the new stablecoin era Impact on the longer tail of altcoins
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Hoolie Tejwani (Coinbase) on The Evolution of Coinbase Ventures (EP.610)
On The Brink with Castle Island
, the head of Coinbase Ventures joins the show. In this episode we discuss: The history and rationale behind the launch of Coinbase Ventures. The evolution of the crypto venture category. Areas of focus for Coinbase Ventures. Stablecoins, Crypto/AI and consumer startup category. The regulatory landscape in the United States. Operation Chokepoint 2.0 and the impact on startups. The rise of the Coinbase Mafia. To learn more visit
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Weekly Roundup 04/03/25 (Circle S1, Tariffs, Galaxy settles, BitMEX pardons) (EP.609)
On The Brink with Castle Island
Matt and Nic are back for another week of news and deals. In this episode: What’s the deal with the tariffs? Are the tariffs 4D chess? STABLE Act advances from committee Galaxy settles with the NYAG for touting Luna Trump pardons the BitMEX founders Coinlist returns to the US FDUSD has a depeg amidst Justin Sun drama Fidelity launches a no-fee crypto IRA product Larry Fink is bullish bitcoin Content mentioned:
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Alexei Zamyatin (Build on Bitcoin) on True Rollups on Bitcoin (EP.608)
On The Brink with Castle Island
, the cofounder of (BOB), joins the show to talk about the state of the art in Bitcoin Rollups. In this episode: Can Bitcoin achieve parity with Ethereum rollups? How BitVM and BitVMv2 changed the game for Bitcoin rollups When will Bitcoin rollups be considered “Stage 1” Ethereum’s existential crisis Bitcoin fees in a rollup world The risk of L2s cannibalizing Bitcoin Will Bitcoin DeFi look different from Ethereum DeFi? Why Bitcoin deserves Rollups What soft forks is Alexei looking forward to? Does institutionalization ossify Bitcoin? BOB’s progress and roadmap for 2025 Learn...
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Weekly Roundup 03/28/25 (MiCA Stablecoins, Gamestop, Hyperliquid) (EP.607)
On The Brink with Castle Island
Matt and Nic return for another week of news and deals. In this episode: We reflect on our podcast with Paolo Ardoino The EU’s MiCA rules make launching a stablecoin virtually impossible We explain the Ghiblification crazy OCC removes Reputation risk from bank supervision World Liberty Fi launches a stablecoin Hyperliquid suffers an exploit - are they decentralized? Fidelity is exploring the launch of a stablecoin ICE is looking to use USDC Coinbase is reportedly looking to acquire Deribit US Treasury lifts sanctions on Tornado Cash Sei is looking to buy 23andme
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Paolo Ardoino (Tether) on stablecoin bills, pursuing an audit, and getting to 400m users (EP.606)
On The Brink with Castle Island
, the CEO of Tether, rejoins the show for a timely discussion. In this episode: How is Paolo feeling about political trends in the US today? Tether is the 7th-largest buyer of USTs at the sovereign level Paolo’s decision to spend more time in the US What does Paolo make of the stablecoin bills in Congress? Does Tether want to eventually come onshore to the US? Tether is pursuing a Big 4 Audit The effect of Operation Choke Point 2.0 on Tether Tether is moving their HQ to El Salvador Paolo’s thoughts on stablecoins in MiCA How does Tether get to the figure of 400m global users of the...
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Brian Foster on Coinbase’s wholesale business (EP.605)
On The Brink with Castle Island
Brian Foster, the Global Head of Wholesale at Coinbase joins the show for his second appearance. In this episode we discuss: A catch-up on the Wholesale business at Coinbase and the types of customers that are active in this market How banks and broker-dealers are accelerating their efforts post-election Perspectives on build vs. buy vs. partner decisions that are happening at banks after the repeal of SEC Staff Accounting Bulletin 121 Views on how banks will approach M&A Coinbase’s role in the digital asset ETF market How Coinbase engages with government customers Views on the...
info_outlineFormer Chairman of Silvergate Bank Mike Lempres joins us for a discussion of Silvergate, the crypto-focused bank that was forced into liquidation in early 2023 following a bank run. This are the first on the record comments from any Silvergate executive following the voluntary liquidation announced in March 2023. In this episode:
- Mike’s background at the DoJ, at Coinbase, and how he came to be chairman of the board at Silvergate
- How Silvergate grew to become the premier crypto-focused bank with $14b in deposits
- Why the Silvergate Exchange Network (SEN) was so useful to the crypto space
- How Silvergate suffered a bank run and ultimate liquidation following the FTX collapse
- How Silvergate survived a 70% bank run
- Regulatory shifts in 2023
- What led the decision to voluntarily liquidate
- What has happened at Silvergate since the announcement of the liquidation?
- The effect of Elizabeth Warren’s letters and short seller behavior on the collapse
- Could Silvergate have survived and thrived?
- Should bank regulators be allowed to ringfence entire industries?
- Silvergate’s relationship with Alameda/FTX - and could they have detected the fraud?
- Was Silvergate a victim of FTX
- How the Signature case adds to the suspicion - were regulators sending a message?
- What was the issue with SEN monitoring?
- Silvergate’s settlements with the Fed, the SEC, and the CA DFP
- How Silvergate was rugpulled by the government with regards to Diem
- The Fed’s recent evolution on the topic of banks serving crypto
- Mike’s outlook on crypto banking and the domestic crypto industry
- Why Signature and Silvergate executives are limited in what they can say publicly
- The problem with “confidential supervisory information”
- Why we may not get a “smoking gun memo” from the regulators on Choke Point 2.0
- What changes would Mike make to bank regulation in the US?
- Lingering misconceptions about Silvergate
- Do Silvergate shareholders have a legal case against the government?
Further reading:
- Nic Carter in Piratewires, Operation Choke Point 2.0 Is Underway, And Crypto Is In Its Crosshairs
- Nic Carter in Piratewires, Did The Government Start A Global Financial Crisis In An Attempt To Destroy Crypto?
- Nic Carter in Piratewires, Inside the Biden Admin’s Plot to Destroy Silvergate and Debank Crypto for Good