The Wolf Of All Streets

Backpack founder and CEO Armani Ferrante joins Scott as Bitcoin squeezes back toward $80,000 after the Democratic sweep and Solana's tokenized stock trading hits a record $657 million, with Backpack leading the surge.
They get into what the "tokenization super cycle" really means, how trading stocks on-chain differs from the DTCC using tokens for faster settlement, why perps are crypto's most important product after stablecoins and need to come onshore, and how 24/7 markets, international stocks and AI could bring back the retail investor. Scott also covers House Democrats writing their own version of the CLARITY Act, Kalshi odds on Bitcoin's price this year, Strategy's STRC back at $100 par, and Riot selling the bitcoin it mines to fund an AI data center.
In this episode:00:00 Democrats' new CLARITY Act after the sweep02:07 Solana tokenized stock trading hits a $657M record10:12 DTCC tokenization vs. stocks trading on-chain13:15 What a Democratic Congress means for crypto rules16:58 Why perps and equity perps need to come onshore24:03 24/7 markets and access to international stocks26:49 AI and the return of the retail investor31:21 Bitcoin near $80K after a $215M short squeeze33:41 Strategy's STRC is back at $100 par35:19 Riot sells its bitcoin to fund an AI data center
Armani Ferrante on X: https://x.com/armaniferranteBackpack: https://backpack.exchange
Watch this episode on YouTube: https://www.youtube.com/watch?v=-meUTTtD1Rw
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From The Daily Wolf with Scott Melker, live weekdays at 12pm ET on Yahoo Finance.

Democrats took both chambers, and Elizabeth Warren is now in line to chair Senate Banking with Maxine Waters at House Financial Services. Scott Melker walks through what the crypto industry got for roughly $176 million, including Sherrod Brown returning to Ohio's Senate seat after about $63 million was spent against him.

The SEC staff called Canton Coin a digital commodity in a no-action letter. The CFTC cleared perpetual futures on single stocks, and Cboe and Citadel Securities backed a lawsuit against it the same day. Block agreed in principle to a $764 million money laundering settlement.

Timestamps0:00 Democrats take both chambers and Warren is in line for Senate Banking2:07 Crypto spent about $63 million in Ohio and Sherrod Brown won anyway3:28 Elon Musk's candidates lose in Texas, including the Bitcoin reserve4:16 Why the Clarity Act is finished and what replaces it6:28 Bitcoin keeps mining blocks regardless of who holds Congress7:45 The SEC calls Canton Coin a digital commodity in a no-action letter9:05 The CFTC clears single stock perpetual futures, and Cboe and Citadel sue10:54 Block agrees in principle to a $764 million money laundering settlement11:49 A French bank is hacked and the proceeds move through crypto13:35 How Binance's attackers got in, from its own incident report

#ElizabethWarren #Crypto #Bitcoin #SEC #Midterms #DailyWolf #YahooFinance

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Ledn co-founder and Chief Strategy Officer Mauricio Di Bartolomeo joins Scott as Bitcoin crashes and immediately recovers after Democrats win control of the House and Senate, with crypto PACs losing almost every competitive race despite record spending.
They unpack what the blue wave means for crypto regulation and the CLARITY Act, why the Binance hack shows big exchanges trading security for speed, and why custody and proof of reserves matter. They also cover how Ledn's Bitcoin-backed loan clients are buying the dip, Bitcoin bouncing off its weekly 50 MA, the CFTC clearing perpetual futures on US stocks, the SEC's Canton Coin no-action letter, Ledn's rebrand and gold-backed loans, and US debt growing about $10 billion a day.
In this episode:00:00 Bitcoin crashes and recovers after the blue wave03:41 Crypto PACs went two for 11 in key races10:59 What a Democratic Congress means for crypto12:58 Is the CLARITY Act dead now?16:45 Binance hack and why exchanges trade security for speed28:47 Ledn clients are buying the dip30:46 Bitcoin bounces off the weekly 50 MA34:49 CFTC stock perps and the SEC's Canton Coin letter37:26 Ledn's rebrand, new US products and gold-backed loans41:01 US debt growing $10 billion a day
Mauricio Di Bartolomeo on X: https://x.com/cryptonomistaLedn: https://www.ledn.io
Watch this episode on YouTube: https://www.youtube.com/watch?v=T8VdyLZcBas
If you enjoyed this episode, follow the show and leave a rating. It helps more than you know.
Follow Scott Melker:Watch on YouTube: https://www.youtube.com/@ScottMelkerFollow Scott on X: https://x.com/scottmelkerThe Wolf Den newsletter: https://thewolfden.substack.comThe Daily Wolf on Yahoo Finance: https://finance.yahoo.com/videos/series/daily-wolf/
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From The Daily Wolf with Scott Melker, live weekdays at 12pm ET on Yahoo Finance.

The SEC added three FAQ entries on Monday that say token holders who vote in on-chain governance are generally not a controlling group, so long as they are unaffiliated. Scott Melker walks through what that means for which tokens get treated as commodities, and why staff guidance still is not a rule.

Binance says net outflows have reached $5.28 billion and deposits are now outpacing withdrawals. North Korea denies taking the money. New Jersey rescinded its 2023 order against Coinbase staking, and Brazil's Mercado Bitcoin halted withdrawals after roughly $40 million was drained across ten chains.

Timestamps0:00 Binance outflows reach $5.28 billion as deposits start outpacing withdrawals3:28 BlackRock posts $405 million of net outflows, its biggest day since June4:44 Tesla, Amazon, SpaceX and Netflix object to tokenized versions of their shares5:53 New Jersey rescinds its 2023 order against Coinbase staking7:16 The SEC adds three FAQ entries on governance and token status9:56 What gridlock would mean for crypto regulation10:42 Brazil's Mercado Bitcoin halts withdrawals after $40 million is drained13:08 A fake app in Solana's dApp store asked users for seed phrases

#SEC #Crypto #Binance #Coinbase #Bitcoin #DailyWolf #YahooFinance

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Bitwise Head of Research Ryan Rasmussen joins Scott with Arch Public CEO Tillman Holloway and co-founder Andrew Parish on midterm election day, as Bitcoin breaks below its September trading range after the biggest crypto hack ever and prediction markets price a Democratic sweep of Congress.
The panel debates what the midterms could mean for crypto regulation, why Bitcoin ETF flows have stalled into apathy, and what financial advisors are now asking Bitwise about, from tokenization to stablecoins. They also cover the Binance hack and North Korea's denial, where retail should hold Bitcoin and how in-kind transfers into ETFs work, the SEC clearing perpetual futures on individual stocks, why Bitcoin is holding near $77,000 through a brutal tech selloff, Bitwise's $1.6 million 2036 Bitcoin target, and trading volatility with algorithmic tools.
In this episode:00:00 Bitcoin breaks its September range on midterm day01:07 What the midterms could mean for crypto04:38 Crypto apathy and stalled Bitcoin ETF flows06:59 What financial advisors are asking Bitwise15:35 Hack update: Binance, North Korea and self-insurance20:05 Where to hold Bitcoin and ETF in-kind transfers26:40 SEC clears perpetual futures on individual stocks32:16 Why Bitcoin is holding up through the tech selloff39:29 Bitwise's $1.6 million Bitcoin 2036 target44:03 Turning market volatility into an edge
Ryan Rasmussen on X: https://x.com/RasterlyRockTillman Holloway on X: https://x.com/TEXASOL61Andrew Parish on X: https://x.com/AP_Abacus
Watch this episode on YouTube: https://www.youtube.com/watch?v=ge_KUWbT1vA
If you enjoyed this episode, follow the show and leave a rating. It helps more than you know.
Follow Scott Melker:Watch on YouTube: https://www.youtube.com/@ScottMelkerFollow Scott on X: https://x.com/scottmelkerThe Wolf Den newsletter: https://thewolfden.substack.comThe Daily Wolf on Yahoo Finance: https://finance.yahoo.com/videos/series/daily-wolf/
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