Episode 56: Crypto Volatility Explodes Ahead Of White House Crypto Summit

In this week’s podcast, Imran Lakha and David Brickell host a panel discussion between Michael Higgins (Hidden Road Partners), Tommy Doyle (FalconX) and Sean Lawrence (LTP) to explore the role of Prime Broking within the digital asset ecosystem.

They discuss how the FTX, Celsius, and BlockFi blowups impacted the landscape and the challenges that prime brokers face relative to TradFi. They explain what is necessary for institutions to be able to have trust in the system and the hurdles that traditional banks may have in entering the space. Imran and David also have their usual catch up on macro and volatility in an eventful week.

The following topics is covered:

00:00 – Introduction
00:56 – Crypto market overview & US macro update
05:36 – The FED turns hawkish: What it means for markets
08:57 – Imran’s update on his options strategies
11:38 – Crypto options volatility: Insights from Imran
13:09 – Panel discussion begins + Intro of Michael Higgins, Tommy Doyle & Sean Lawrence
15:56 – What is Exactly Prime Brokerage?
17:35 – Structural Differences Between TradFi & Crypto
26:46 – Market impact and shifts following the FTX fiasco
32:00 – Insights on a prime broker’s role in the ByBit hack
34:38 – Can crypto technology, like transparency, benefit TradFi?
39:21 – Credit Market & Credit Risks In Crypto & ETF Flows: Driven by fast money or institutional investors?
49:17 – Upcoming Crypto Summit: Regulation, Tax & Accountanting Standards
53:28 – Bitcoin ETFs: A momentum shift for asset managers?
57:23 – The growing importance of crypto options
1:02:28 – Off-exchange settlement in crypto
1:10:35 – MicroStrategy’s strategy & central counterparties
1:13:18 – Closing thoughts: When will the next wave for Bitcoin begin?