On this episode of CoinDesk’s Public Keys at the New York Stock Exchange, host Jennifer Sanasie sits down with Digital Assets Council of Financial Professionals founder Ric Edelman to discuss the disconnect between declining crypto sentiment and Wall Street’s rapid investment in digital asset infrastructure. Their conversation covers the CLARITY Act, the fight over crypto in 401(k) plans, tokenization, and Edelman’s long-term outlook for Bitcoin.

In this week’s 10X Trade, Maelstrom CIO Arthur Hayes shares his highest-conviction trade.

Strive Chief Risk Officer Jeff Walton examines the future of digital credit following the sharp declines of STRC and SATA, arguing that digital credit could represent the next $300 trillion opportunity for Bitcoin.

Also on the show, BlackRock Global Head of Digital Assets Robbie Mitchnick discusses BITA, the iShares Bitcoin Premium Income ETF, while 21Shares Co-Founder Ophelia Snyder explains why today’s financial infrastructure may be fundamentally incompatible with the tokenized future Wall Street is working to build.

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Timecodes:

00:00 Welcome to Public Keys

00:37 Strategy's STRC Crashes to a Record Low

01:04 Schwab and Cboe Enter Prediction Markets

01:45 Franklin Templeton Files For Bitcoin Dividend ETFs

02:30 Ric Edelman on Crypto's Great Disconnect

05:05 Will the CLARITY Act Pass?

06:08 Crypto Lobby vs. Banking Lobby Into the Midterms

08:48 Edelman's Bitcoin and Ethereum Outlook

12:34 10X: Arthur Hayes' Highest-Conviction Trade

14:07 Strive's Jeff Walton on Digital Credit's Worst Day

15:46 Inside the STRC and SATA Leverage Liquidation

20:43 The $300 Trillion Credit Market Opportunity

23:46 Bitcoin and Ethereum ETF Flows

24:48 BlackRock's Robbie Mitchnick on the BITA Launch

28:37 Ophelia Snyder on Tokenization's Reality Check

30:15 The Scale Problem in Tokenizing Capital Markets