“We think that the moment’s ripe for investors to not just consider crypto as an allocation, but also to look into diversified allocations.” – 02:31

Remy Blaire engages in a compelling conversation with Bruno Caratori, the Co-Founder and COO of Hashdex, during the final day Money20/20 conference in Las Vegas. Remy and Bruno delve into the current state of the crypto market, particularly focusing on the volatility that has characterized 2025.

Bruno shares his perspective on the inherent volatility of the crypto industry, drawing from nearly eight years of experience in the field. He explains that this volatility is a natural aspect of the asset class, influenced by external factors such as macroeconomic conditions and geopolitical uncertainties. Despite the fluctuations, Bruno expresses optimism about the long-term outlook for crypto, suggesting that while volatility may persist, historical data indicates a potential for stabilization over time.

The discussion shifts to NCIQ, a crypto exchange-traded product (ETP) recently launched by Hashdex in the U.S. Bruno highlights that NCIQ is distinct from earlier products that focused solely on Bitcoin or Ether, as it aims to follow a diversified index—the NCI (Mazda Crypto Index)—which represents the broader crypto market. He emphasizes the importance of diversification in crypto investments, asserting that the market extends far beyond just Bitcoin and Ether, and that other crypto assets are likely to gain value as new use cases emerge.

A key theme of the conversation is the convergence of crypto and artificial intelligence (AI). Bruno notes that this year’s conference has showcased a growing intersection between these two technologies, with crypto offering solutions to challenges faced by AI, such as proof of identity and content provenance. He expresses excitement about the potential for crypto networks to underpin new marketplaces and monetizable media, indicating that recent developments have revealed significant use cases for crypto, particularly in stablecoins and asset tokenization.

Looking to the future, Bruno predicts that as stablecoins gain mainstream acceptance, AI agents will increasingly facilitate transactions in everyday commerce, such as purchasing tickets or sourcing business inputs. He anticipates that this integration will become a reality within the next 12 to 24 months.

“I think we all know we’re already tired of the uncertainty, right, and the terror of the trade war that’s overhanging us for the better half of this year.” – 01:57

Remy Blaire welcomes Tongtong Gong, the Chief Operating Officer at Amberdata, for a live discussion from the Money20/20 conference in Las Vegas. The conversation begins with an overview of the current financial markets, highlighting the recent record highs in U.S. equities, particularly in big tech, while noting the sluggish performance of major cryptocurrencies like Bitcoin and Ethereum, as well as precious metals such as gold and silver.

Remy and Tongtong discuss the factors contributing to the market’s upward momentum, including the anticipation of a 25 basis point interest rate cut from the Federal Reserve. They explore the implications of this potential decision and how it aligns with the expected earnings reports from major companies like Apple, Alphabet, and Meta. Tongtong emphasizes the importance of these developments in shaping investor sentiment.

The discussion then shifts to the geopolitical landscape, focusing on President Trump’s recent trip to Asia and the anticipated meeting with China’s leader, Xi Jinping. Tongtong expresses optimism about the potential for productive dialogue, particularly in light of ongoing trade tensions and issues such as fentanyl and agricultural trade. She highlights the significance of face-to-face meetings in resolving uncertainties that have affected the global economy.

As the conversation progresses, Remy and Tongtong examine the performance of various asset classes as they approach year-end. Tongtong shares her bullish outlook on Bitcoin, predicting it could surge past $120, with hopes for it to reach $140 by the end of the year. This leads to a broader discussion on the implications of fintech and digital assets, especially in the context of the innovations showcased at Money20/20.

Tongtong highlights the growing adoption of cryptocurrencies by major financial institutions and the increasing interest in ETFs and asset tokenization. She notes that regulatory developments, such as the Genius Act and Clarity Act, are helping to reduce uncertainty and foster innovation in the industry.

“Stablecoins are the best way that we have to export the U.S. dollar.” – 02:37

Remy Blaire engages in a compelling discussion with Kevin Lehtiniitty, the CEO of Borderless.xyz, as they explore the evolving landscape of stablecoins during the Money20/20 conference in Las Vegas. As the conference comes to a close, Remy and Kevin delve into the significant developments surrounding stablecoins and their implications for the global payments market.

Remy begins by asking Kevin to define what a stablecoin is. Kevin explains that a stablecoin is a blockchain-based asset that is fully backed one-to-one by a fiat currency, such as the US dollar. He uses USDC, Circle’s stablecoin, as an example, illustrating how it maintains its intrinsic value despite market volatility. This foundational understanding sets the stage for a deeper exploration of stablecoins’ role in the financial ecosystem.

As they reflect on the conference, Kevin highlights the increasing interest from institutional and enterprise players in stablecoins, marking a shift from niche discussions among blockchain enthusiasts to mainstream conversations involving well-known brands like FIS, WorldPay, and Wise. He emphasizes that this year’s conference feels like a turning point for stablecoins, as they finally gain the attention they deserve.

The conversation then shifts to the concept of “borderless” finance. Kevin discusses how stablecoins serve as a means to export the US dollar to emerging markets that experience currency instability and high inflation. He points out that in countries like Brazil, Argentina, and Nigeria, consumers are increasingly adopting stablecoins to preserve their purchasing power, showcasing the real-world utility of these digital assets.

Remy and Kevin also address the challenges posed by fragmentation in the stablecoin market. Kevin explains that, unlike traditional payment networks, which have established systems for interoperability, the stablecoin landscape lacks a universal exchange or index. This fragmentation leads to significant discrepancies in liquidity and pricing across different venues, complicating the global payments ecosystem.

“There’s a lot of shorts on the market, but the volume is not there. There is not enough metals to go around for the actual appetite of the people buying it.” – 04:04

Remy Blaire welcomes David Stryzewski, CEO of Sound Planning Group, to discuss the current state of the financial markets live from Money20/20 U.S. in Las Vegas. The segment opens with a focus on Wall Street, which has recently hit record highs, buoyed by positive earnings figures and optimism surrounding potential rate cuts from the Federal Reserve. Despite some recent volatility, the bulls appear to have regained control, prompting a discussion about the implications for various asset classes, including precious metals and cryptocurrencies.

David provides insights into the stability of the equity markets, noting that major companies have reported decent earnings and that the U.S. dollar remains relatively stable. He mentions President Trump’s upcoming visit to China and the recent peace developments in the Middle East as contributing factors to the positive market sentiment. However, he also highlights the uncertainty created by the government shutdown, which has resulted in a lack of updated economic data, including crucial metrics like CPI, GDP, and job numbers. David points out that Amazon is undergoing significant job cuts, which he believes reflects broader trends in the tech industry where companies are reassessing their workforce in light of changing market conditions.

The conversation then shifts to precious metals, particularly gold, which recently soared to record highs before pulling back. David describes this pullback as an opportunity, emphasizing that global demand for precious metals remains strong. He explains that while gold and silver prices may fluctuate, the underlying demand continues to grow, especially as the world moves toward a potential gold-backed standard. He also discusses the critical role of silver in the semiconductor industry, linking it to the performance of tech companies like Nvidia.

As the discussion progresses, Remy and David delve into the cryptocurrency market, analyzing the recent price action of Bitcoin and Ethereum following a liquidation event earlier in the month. David describes the volatility in the crypto market, attributing it to institutional interest and the use of leverage by investors. He encourages listeners to remain optimistic about the future of blockchain technology, likening the current moment to a revolutionary shift akin to the rise of ChatGPT.

“You’re seeing a lot around AI, not only empowering these businesses, but VCs investing at that intersection because the incentives make sense together.” – 02:26

Remy Blaire engages in a compelling discussion with Anthony Vassallo, the Senior VP of Crypto at Silicon Valley Bank, live from the Money20/20 U.S. in Las Vegas. The segment opens with significant news in the financial sector, highlighting JPMorgan Chase’s decision to accept Bitcoin and Ethereum as collateral for loans by the end of the following year. This announcement marks a notable shift from CEO Jamie Dimon’s previous critical stance on cryptocurrencies, indicating a broader acceptance of digital assets among major banks.

Remy and Anthony delve into the factors driving the growth of crypto, noting that clients are increasingly confident in raising capital and making announcements due to improved regulatory clarity. Anthony emphasizes that venture capitalists are not merely speculating but are actively investing in projects that demonstrate real utility, particularly at the intersection of blockchain and fintech. He points out that despite general headwinds in venture capital, there are significant tailwinds in this sector.

The conversation shifts to the evolving categories within the crypto space, with Anthony humorously suggesting that PitchBook may need to recategorize investments as the lines between blockchain and fintech continue to blur. He discusses the growing interest in artificial intelligence (AI) and how it intersects with blockchain technology, providing infrastructure and trust that can enhance AI’s capabilities while addressing concerns about data privacy and censorship.