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Podcast Host 1
welcome back to the crypto one hundred and one podcast we hope all of you are having a fantastic morning or evening because no matter where you're coming in from you're in the right place here today got another awesome guest in store for all of you because today we have brendan sedo he is an initial contributor over at core brendan it's good to have you and i gotta be honest i think you're the first brendan that we've ever had on at least one that i've ever had on which is a bit of a weird intro for me but nonetheless great
Brendan Sedo
to have you man thank you very much yeah it was good to be jamming before a bit getting your insights on the market and the brennan connection is always funny you were joking how how interesting of a email threat that'll
Podcast Host 1
be with three brendan's i know there's it's weird because i don't feel like it's that common of a name but nonetheless i guess one way or another we we find the way to to meet up with each other or maybe just crypto just attracts the brendans and
Brendan Sedo
it's why we're all a funny story my last startup the first guy i hired you know there was two of us we our first hire is named brendan so it was just like you know the history reveals so enough pretty
Podcast Host 1
funny it truly just must be the space but you know all banter aside you know we truly are glad to have you here excited to talk all things core in the markets and what's happening here with crypto as a whole but specifically you work a lot with bitcoin and so the people have all sorts of conversations and the cool thing about this pod is that we get to bring in people from all different backgrounds with all different opinions and some of them disagree a lot some of them really agree a lot and so there's people who come on and they just are you know but they believe a ethereum is the only way or solana is the only way or bitcoin is the only way or you know some people believe hey it can be a mixture of all of them but we love to get everyone's kind of viewpoint in perspective because you guys are building right different people can build different things and they can all be successful but we love hearing from the founders and the builders and the contributors to the foundations of crypto and understanding why you're thinking what you're thinking and what's kind of moving those decisions so again excited to be able to dive into all this can you just give us a little bit of an introduction to yourself i mean man you've been working with this stuff for a solid bit now and would love to just hear about what got you started yeah so
Brendan Sedo
more on the personal side and then i guess we can jump into core afters what you're thinking yeah sure so i'll try and be i'm not that great at talking about myself so i'll keep it pretty short so basically i've been in tech fifteen years now have had a couple successful companies before joining core before this just did a saas business where i was founder ceo so i scaled that for about ten years in the construction saas space and sold it to a group that went public a year later on the nasdaq so that was really cool experience take an idea to an exit and then stayed on and i had always been interested as a hobby in crypto so if you're a technologist in the early two thousand ten s and you know worked in the bay area et cetera you obviously had heard of bitcoin or different cryptocurrencies and yeah i like to just dabble on the side and followed the technology i could never really incorporate it at the time into the last company because it just wasn't there yet but i was always just playing around so after i sold my last company i took some time off and it kind of coincided with defi summer so there was a lot of just really interesting utility that was being built that was a bit different than just pure token speculation and it got me really excited as someone who considers themselves like a worldwide citizen permissionless finance you know non sovereign store of value with bitcoin where you know it can't be controlled by a centralized state that that stuff really spoke to me so yeah i was just dabbling and got connected with some old colleagues i shouldn't say yeah colleague work colleagues but just acquaint you know friends acquaintances that were working on the core project you know i think there was about five ten people at the time and and joined about three and a half years ago to help take that product from zero to one well
Podcast Host 1
enter core right i mean core has been building out all sorts of different kind of features in related to bitcoin and i think that's something that interests a lot of people because when they look at bitcoin they think oh you know bitcoin really doesn't have any utility or there's no options there's no defi there's none of this if you're just looking at bitcoin at how it's normally is but one of the big purposes that you all have been focused on solving is how can we make bitcoin more than something than you just kind of like send and receive right so for the listeners out there who maybe are newer they haven't heard about you can you give us just a full introduction to what you've been working on and what you've been doing over at
Brendan Sedo
core yes i think you teed it up pretty good so appreciate that at the end of the day it was like i mentioned gfi summer really was was kind of a catalyst for what could be built with smart contracts as you mentioned bitcoin the asset is incredible hard value not sovereign store value massive market cap by and far the most adopted and most held crypto asset in the world right led the etf's held by governments no other currency comes close but the network itself is pretty simple right that's part of its benefit as well but right now basically you can send store and receive bitcoin right it doesn't have smart contracts it doesn't have that ability so that's why core was created basically you saw bitcoin adoption growing around the world you saw the rise of what smart contracts could do and create with different apps and defi applications for people all around the world and basically the push was yeah bitcoin's getting more and more adoption and people want to put it to work and do things with it but you can't do that on the bitcoin network itself so we created core which is a layer one blockchain that is secured by bitcoin so specifically bitcoin miners also participate in the core blockchain they help secure it with their mining hash power a lot of detail there so i'll just keep it high level but they help secure the chain and then as a bitcoin holder you also secure the core blockchain by staking which we'll we'll get into so you can it's kind of like completely aligned with with the bitcoin miners and bitcoin holders who can earn if they're helping skrill chain and then it's evm compatible so it opens up a bunch of use cases and ability to program and build utility for bitcoin like a lend borrow market perpetual markets nfts et cetera that you can't do on bitcoin itself so the thing is you bring your bitcoin onto this blockchain and you do things with it that you can't do on the bitcoin network itself
Podcast Host 1
yeah which is i think inherently valuable right because one of the takes that we have over here is that everything should kind of be developed and invented and then make it a free market and then allow people or give people the ability to choose from there so they're saying hey if i just want to do kind of defi and some of these defi purposes on bitcoin let me have the ability to do that and i can choose to do that or if i want to go do it on ethereum fine you know if they want to do that they can go do that but i think giving the people the ability to just be able to interact with bitcoin like this is again i think valuable because there's a lot of people out there who just say hey i want exposure to crypto but i don't necessarily want to get too into the weeds with everything i don't want to have to go and learn all the blockchain technology and i want to have to go learn all of the the different jargon that's involved with it i kind of just want to get maybe own my bitcoin and that's a lot of people out there and then later on down the road they say well now i kind of want to get a little bit more involved you know i heard i could stake ethereum or i could earn yield on ethereum or i could do defi on solana or all these other things and they end up just wanting to stay with bitcoin and so i think that's where something like core comes in is for a lot of these people that just have bitcoin you know maybe it's passive maybe they're you know actively managing it i think it gives them a bit more variety and i would actually even argue that that kind of increases not only like awareness but also like liquidity in a sense right you kind of are opening up bitcoin to a new maybe demographic of people saying that you know the people who do want more defi you know whatever that may be because there's a bit of variety a bit of variety that can be involved in that you're essentially opening the doors to them and saying hey we have something for you too
Brendan Sedo
well ultimately that was part of like it's not the main mission but when most companies or foundations have mission vision statements that was included in one of the original missions was to accelerate bitcoin adoption we'll see if that's panned out i think we still have a lot of work ahead of us project's still pretty early but thing is you add more and more utility to the asset it'll increase adoption and make it a bit more useful all around the world for sure and yeah we're seeing i mean after having launched three years ago at this point being with the project three and a half there's like specific use cases with retail folks around the world who just you know hold a bitcoin or zero point zero one of a bitcoin and then you're seeing actually one of most of the major pushes coming from institutions and by institutions that's you know companies that own bitcoin on the balance sheet hedge funds trading funds you know the folks that are basically using custodians right or the custodians you're going after for their business so yeah some interesting interesting learnings there on both
Podcast Host 1
markets well i wanted to go through a couple of data points that i pulled i was doing my homework before we started and i saw three things stood out to me number one you guys are the first yield bearing bitcoin etf i mean you have that number two you guys had the first self custodial bitcoin staking product with over seven thousand btc that's staked in it that number might be higher now and then number three you guys are the number one bitcoin defi chain with over five hundred million dollars in tvl just walk me through i guess all three of those and the overall role did we miss anything there i mean a couple
Brendan Sedo
things so i think some of the stats have changed obviously macro got smoked with the ten ten ten ten piece so tvl is down a bit but by and large the bitcoin ecosystem with the most apps and utility built on it and funds i think at one point there was actually a billion in tvl which was pretty crazy how it ramped just over a couple years ago but all of what you mentioned kind of stems on this innovation that we had which was non custodial bitcoin staking and i mentioned this before the chain itself can be secured by bitcoin stakers very similar but very different it's interesting to think about it similar to proof of stake chain but it doesn't quite work that way so what's interesting about this is you can stake bitcoin by time locking bitcoin in your own wallet and what's great about that is you basically time lock your bitcoin for a period of time whether it's a day ten days a month or a year and you delegate it to the core blockchain to help secure it and you earn core block rewards for doing that the great thing about the innovation that we had was that you know although when you time lock you can't use your bitcoin so i if i time lock for a month i can't then you're like hey brandon send me a bitcoin i can't do that until the time lock expires right just part of how utxos on bitcoin work but the awesome thing is that your bitcoin is when you do a time lock transaction in your own wallet there's no like it's under your private key right so you haven't sent bitcoin to anyone there's no multisig there's literally no risk of anyone taking your bitcoin period if the core blockchain which will not happen but if it went down tomorrow your bitcoin's fine time lock expires it's in your wallet right you redeem it and you get it back and that was really interesting because it brought yield to bitcoin for the first time ever in a permissionless fashion that didn't requires centralized entities doing len borrow or finding other ways because people want to yield on bitcoin forever it just hasn't quite been sustainable and then that's what kind of led to the first etf's in europe so to be clear we don't issue the etf's but we've partnered with a group called ballard that has launched some bitcoin yield etf's so in addition to buying bitcoin through an etf but as a base yield which is powered by this staking function which was pretty unreal it was a big achievement i think the latest one went live on the london stock exchange which was a big win and worked on for a long time and then eventually down the road see that coming to the us i think there'll be a variety of options that provide yield but they're already talking about staking etf's for ethereum i'm not sure if those were approved but i think books have put in applications you know you you could see something in the future you know having having similar options or instruments for bitcoin yeah well i
Podcast Host 1
think the listeners are probably tuning in they're going how does that work you know staking yield lending returns on bitcoin you know maybe they're a little bit more used to that on ethereum or solana but i think the idea of that being possible and being a reality on bitcoin is probably some thing that they're maybe scratching their heads about so can you explain like how core has enabled those kind of defi features on
Brendan Sedo
bitcoin or with bitcoin yeah so the staking function itself i wouldn't even call it defi right that's just using you know it's similar to if you if if these bitcoiners are up on ordinals or taproot the taproot upgrade that happened a couple of years ago it allowed you to to add more data into bitcoin block headers right which made it readable which enabled these cool things like ordinals and jpegs that could be put into bitcoin that upgrade allowed us to do these time lock transactions where we can put this data in for staking and to us that's like crawl walk around a lot of bitcoiners are just like i'm keeping my bitcoin in cold storage forever not doing anything this is a great way to crawl walk run like we're not asking you to bring your bitcoin on chain trust bridges move it through exchanges you're time locking it in your own wallet and you could use a ledger wallet a hardware wallet which is pretty awesome if we get into defi how the defi works is so the chain secured by those stakers the chain itself is evm so basically what you do is move your bitcoin onto the core chain you could do that through a variety of partners that we have like solve i forget there's like a million btcs you know there's threshold there's a variety of bitcoins that you can bring wrapped bitcoin that you can bring on chain that have various methods to do that some are like big multisigs others rely on custodians it depends what your risk tolerance is but you bring your bitcoin on chain then you can do things with it you could put it into a lend borrow market and earn interest or borrow stablecoins against it so you deposit some bitcoin borrow stable coins go do that put a down payment on a house if you want and get rates that are that are typically half the price of what you get with like a private bank but that's that's how it generally works and then and obviously we have the core token itself so there's definitely defi functionality with stablecoins core token but primarily most of the products being built on bitcoin as a bitcoin sidechain or some things that involve bitcoin in some way
Podcast Host 1
i was just thinking about who might resonate the most with this and maybe the answer is both here but who would you say that you cater the most to because people usually hear about bitcoin related products and i think the initial reaction is maybe this is more for bitcoin maxis but then you have some of the defi features and you're like well that probably resonates with some of the defi community who i would say is probably largely more so towards maybe ethereum or you know some of those other chains i guess who who would you say you cater to the most and who do you get the most attention from between the two parties of like bitcoin maximalists or maybe
Brendan Sedo
the defi people i think it'll be somewhat surprising i mean bitcoin maximalists are just not going to bother right they're very much in the camp of cold storage never use bitcoin but i think the thing that we've learned and what we'll see is although that group is pretty loud on crypto twitter or x they don't represent bitcoin the entire bitcoin community right it's that's fine i mean if if if it's you know cold storage that's great but that's actually not the majority of of the bitcoin community are folks that have bitcoin a lot of folks want to do things with it or are actively exploring you know for example you know if you wr bitcoin investor week two weeks ago every digital asset treasury company in the world is looking to do stuff with their bitcoin obviously they have to you also talk about how poorly those businesses have performed i get that i don't want to comment i'm just saying that a lot of folks generally are looking to do things but bitcoiners are a lot more risk off than an eth person and definitely someone from solana right they want to bet things a bit more closely but there's some pent up demand to do things surprisingly i think there's more corrective market fit with institutions that are holding their bitcoin in custody they're actively looking to do things with bitcoin and wanting to do things and i think they're actually a bit more further down the curve right now in terms of trying to do things on chain
Podcast Host 1
well you just mentioned institutions which raises i guess a whole nother addressable market because there's the idea of like yeah we can pitch this or you can pitch this to retail and they can use it i think a really big market is can you or are you also pitching this to the institutional side like is that something that we could see you know whether it's an asset manager whether it's a bank whether it's a crypto company whatever it may be from an institutional standpoint i would say even you know into like the big etf providers like could they look at maybe using core or the features of it to try to increase their yield on their bitcoin or something along those
Brendan Sedo
lines absolutely i mean that's we're working the institutional market you know educating folks we've talked to all the etf providers those are longer conversations the reality is institutions anything with bitcoins like measured three times cut once but absolutely and i think that that our main focus there on a product that that has been worked on internally is a is a basically a bitcoin yield product that will be managed professionally use other trading other strategies or yield strategies including core's dual staking there'll be some exposure there it'll mint a token and rebase similar to like a staked eth token so you'll get your bitcoin on chain that you can deploy on core and then eventually other chains and it'll have a native yield built in and that's pretty interesting just as a collateral asset it flips a lot of the economics and we see a lot of demand and interest there on the institutional side on the retail side we're still very bullish we just think the products look a little different so the product that we're working on there you can check this out on twitter is a product called sappay so sap pay is almost like you mentioned you actually kind of covered this initially where you had said oh you know most crypto users they don't want to deal with the hassle of this and all this stuff and it's really complicated so what we've done is basically created a simple mobile app you could use the term neobank but it's like a bitcoin neobank that has a savings account for bitcoin so you can deposit bitcoin earn interest you you can take a loan out against your bitcoin which is powered by defi and you can spend stables or spend bitcoin i think most people spend stables frankly on a card and then a variety of other features will come soon but that's the basics of it but it basically like puts a nice interface on a lot of these dapps that are already built on core where you don't have to go through the five different apps figure out how to connect manage them all it's just a very simplified streamlined easy to use app called satpay and it it will be launching at the beginning
Podcast Host 1
of april i think the more we can remove the barrier to entry the better it will be for one because that's what a lot of people want right they want to be able to come in and they shouldn't have to know oh i'm using blockchain or oh i need to know all these different things i think the more that we can just have people come in and just get value out of using the technology i think that's where a lot of the benefit comes from and so we love hearing about products like those but you know one of the i guess the final questions is because we've talked at least final questions on this topic because we talked a lot about you know hey bitcoin can evolve and how you are evolving it but in your ultimate perfect world for you personally how do you see bitcoin evolving as it kind of moves into the future what do you want to see the most
Brendan Sedo
ooh that's i mean there's a lot there i want to see bitcoin market cap continue to grow i want i want to see it be adopted by by you know governments more corporations worldwide more individuals because i think it brings a lot of power to individual holders and it's a money that again can't be corrupted by any centralized entity the tinpo hat coming out but i think the bigger thing and the thing you know the reason i actually joined the core project is although i think like tradfi use stuff around bitcoin is going to be built up you'll eventually buy your etf you'll be able to take a loan based on margin and but it's all going to be done through your bank and i'd love to see a world where there is a parallel path that that is built on defi and easy to use permissionless systems whether that's sidechains et cetera i really believe that custodying your own bitcoin is something that folks should do and it kind of defeats the purpose of every bitcoin is sitting in a bank and you take out your margin loan against it so yeah the tldr there you asked what i'd like to see i'd like to see this parallel system where there's a ton of utility and ways that you could put your bitcoin to work and you know it's like the backbone of a new finance system but you actually custody and you have the control of the asset yourself you know
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Podcast Host 1
so what do you think about i guess moving away from bitcoin what do you think about altcoins right you work obviously a lot with bitcoin we've talked a lot about bitcoin what are your thoughts about altcoins do they have a place well
Brendan Sedo
i mean core is an altcoins so i mean i guess that's fair i love altcoins that's a fair point no but i mean i'm not a coin trader or you know these things i'm very bullish on what i know which is you know we take take the best at referenting i'm a big eth guy as well i think evm was great i've dabbled in solana as well obviously though i'm a bitcoiner at heart but i think that most altcoins like don't need to exist that's my contrarian take although i don't think it's that contrarian i think if you're a blockchain you kind of need a token to bootstrap your chain or or find any way of incentivizing security or getting users so i think you know blockchain alt tokens are necessary to get things moving i think at the dapp level and a variety of other things i don't understand you know a lot of them don't even need tokens and i think people are rethinking that now rethinking different models focusing more on revenue this is at the dapp level of course so i think we're entering a pretty interesting time but yeah i think i think there are some altcoins that have very serious utility and there's some that don't
Podcast Host 1
i would agree with the revenue part i think that we need and we should see projects more focused on revenue that was one of the things about the past is that you had a lot of projects who would promise things and say hey we're going to do this years out we're going to get there and we're going to be able to do x y and z we and it was more of like hey guys this is a dream down the road where i think that now again you know we should really be focused on no like this is a project and a company and here's the product here's the service here's the revenue and i do think that that will hopefully be an increasingly more important thing to new projects that are formed as well
Brendan Sedo
but from what i'm hearing i think it's changing i mean the thing there is token incentives so maybe maybe it's not so much the token but in that example you describe it's like i get not me personally but you start that project you get paid up front in tokens for promises of the future that's literally the opposite of every tech business ever built it is like way in web two it's sort of the opposite you have no liquidity for ten years you work your ass off you always are trying to get to the next thing with no liquidity yeah general and then and then here it's been flipped the other way it's like no wonder a lot of stuff doesn't get delivered i mean you you you already launched your token and and this this stuff right so i think a lot of that's being rethought right now and and it's just part of like a market maturing because this market's pretty young and i think it's going to lead to really great things yeah i would
Podcast Host 1
agree it's there are a lot of differences and i think we've sorted out a lot of them but we still have a lot more to sort out i mean you mentioned how the way that tokens work are kind of the opposite of early stage tech and then there's also not quite as much limits and maybe regulations on you know hey some of these people can have the vast majority of the supply and then they can also sell as much as they want they don't have to disclose them there's no like execution dates like if you're a big executive of a large cap publicly traded company it's like okay well you have to be you have to sell at these specific dates you have to disclose it there's all these things that kind of go into it right and so that's another thing that you don't see in crypto that honestly has hurt quite i would say quite a few altcoin projects where they're doing good but then they either have too much inflation or they have too much maybe insider selling or whatever it may be and that ultimately can act as a negative catalyst not always right there's plenty that do succeed but it'll be interesting to see as crypto sorts this stuff out and i think it's coming right you know at least from a bit more of like an institutional standpoint pings people are looking at like the overall market structure bill hoping that you know just one aspect of that is the clarity act but there's different aspects of it saying hey you know we kind of hope that that shed some light and clarifies what is and what can be done yeah do you
Brendan Sedo
think it'll get past you know that's
Podcast Host 1
the age old question i i do i think it will get passed the question is do we think it'll get past this year i would lean into yes i think that we have a decent chance you know right now last time i checked the odds were like around fifty percent on poly market i would think that there's a lot of pressure and this is just where my brain's at is that there's a lot of pressure onto the crypto market it's down it's beaten up people are waiting on this kind of thing i'm not saying it's going to be like the savior like the moment that this thing gets passed we're going back to one hundred twenty thousand dollars bitcoin i don't think it'll be something like that but i think it sets us up for long term success and i think it certainly sets us up for an increase in liquidity over an extended period of time time and so i think that there's you know there's all sorts of different things you can look at whether it's saying hey we're going into midterms there's probably pressure on some of those politicians who want to run we heading
Brendan Sedo
i think that's the big thing is the window almost seems to do it before the midterms if not it's it just might get stuck in bureaucracy or something so i would certainly agree with
Podcast Host 1
that and say the window here is get this thing passed before midterms otherwise it could kind of float away for maybe a more extended period of time i do think that it gets passed personally i think that i think that you'll see both sides the banks and those kind of crypto native companies i think you'll kind of see both of them give and take but it seems like they both want it they just disagree about how it should be written and so i think because they both want it and one's not like adamantly like we don't want any of this crypto market structure stuff they disagree about a few smaller things you know in regards to stablecoins and yields like that but i think that that that they ultimately both won it and so i think because of that they'll be willing to compromise my thought here is probably as we lead into spring and summer but i think once you start getting the fall i would start being nervous if it wasn't around by fall let's
Brendan Sedo
see what happens well we'll have to
Podcast Host 1
see what happens i guess final things just about the market as a whole here i mean again you've been involved with this stuff for a while you know you have a lot of just business and tech experience and everything i mean what do you make about all this we were going back and forth before the pod started just you know getting to know each other and doing a little a little back and forth banter about different things but you know one of my things that i said to you is i feel like we're somewhat disconnected in the sense that the technicals maybe don't fully reflect some of the fundamentals but then you know looking back you know the crypto market's always been volatile and it doesn't always have to necessarily make complete sense but i mean what do you make about all
Brendan Sedo
this i think i just mute myself for a bit there but yeah i think so first of all just preface i don't know i mean i've never been a trader i've been you know held through multiple cycles at this point i've never timed it or sold the top or done any of this stuff so my perspective is i'm just very bullish on the technology especially bitcoin yeah and anything related and honestly ethereum too i just think it's better technology it's continued to grow we may not have the same financial returns as the last ten years but i think that there's going to be more and more adoption more use cases and price will will do just fine so our view i mean at core i can tell you our view is just you know we're just heads down don't worry about the noise i've built through stuff in web two as well you know you lose a contract or you grow business the wrong way and have to even lay some people off and you just kind of dial in and focus and wait for pmf to come or products take off or things to improve and i think this is the point where you just put your head down and work but i just think everything's moving in the right direction in terms of like how to trade this right now i can't be helpful i'm curious for your thoughts it's not really my my forte honestly oh i think we were saying we would dollar cost average i mean you've seen a crazy correction i mean i'd be looking at bitcoin you know and i've told friends and family this regardless of price just just buy a bit you know don't try and time this stuff just just just allocate every week or two weeks and and keep that as your strategy and now is a good time to do that yeah
Podcast Host 1
i think for the average person you should just look at dollar cost averaging you know it's simple it's easy i agree if you believe in this long term don't overcomplicate it everyone wants to overcomplicate it especially if i mean i think for some people you know there's a time and a place but if you don't have the time or the resources or the knowledge don't trick yourself into thinking that all of a sudden you do and that all of a sudden you can outsmart the market just if you don't have the time the knowledge and the resources and all these things and you have a busy life and you really do believe in bitcoin and crypto long term you can just look at a dollar cost average saying hey i don't care what happens in the next week the next month the next year even the next several years you don't care you're focused on the long term you can buy a little bit every day or every week or i don't know who knows every other week or whatever you want it to be and you can just keep it simple because historically you know that's always been a really favorable thing to do on bitcoin especially in deep corrections and that's kind of our viewpoint at it is just saying hey guys we're here to kind of present what's happening behind the scenes we're here to present the bigger picture all the stuff that's going on make you all the the individuals as informed as possible so that you can again understand why you're interested in investing in this in the first place so we have a very zoomed out kind of macro bird's eye view perspective on this but i think i can speak for both of us here when i say we don't think crypto's going anywhere right we think bitcoin and crypto as a whole is going to be able to be around for a long time and that's why we both work
Brendan Sedo
in it but yeah one hundred percent
Podcast Host 1
yeah absolutely brendan we appreciate you coming on here where can people find out more about what you're doing at core maybe any social pages for yourself as well what's the best place to find
Brendan Sedo
you yeah so the best place is twitter the the group at core is awesome and you can learn about satpay there and then any upcoming bitcoin yield launches and other cool products that are launching on core but yeah you can you can check that out on twitter at core dao so c o r e d a o underscore org o r g so far there's like two million followers followers a lot of engagements an awesome account and the website's the same almost so coradao dot org and i'm also on twitter under the cordow account so if if you really want by me i know tweet i i'm not i'm not that active on on on x but i will share product updates a lot so that's the best
Podcast Host 1
spot perfect well brendan once again thank you for joining joining us and we
Brendan Sedo
appreciate your time thanks for having me man thanks brother
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Date: March 30, 2026
Hosts: Bryce Paul & Brendan Viehman
Guest: Brendan Sedo, Initial Core Contributor
This episode dives deep into how institutions and retail investors both seek to earn yield on Bitcoin—and how the Core blockchain is unlocking these opportunities without sacrificing the values of decentralization and self-custody. Guest Brendan Sedo, an early Core contributor and longtime tech entrepreneur, joins the show to discuss the evolution of Bitcoin utility, the rise of native Bitcoin staking, Core’s architecture, and future trends for Bitcoin and DeFi.
“...sold it to a group that went public a year later on the Nasdaq... I’d always been interested as a hobby in crypto...”
— Brendan Sedo [02:35]
“...the push was, yeah, Bitcoin’s getting more adoption and people want to put it to work and do things with it but you can’t do that on the Bitcoin network itself… so we created Core...”
— Brendan Sedo [05:16]
“...you’re essentially opening the doors to them and saying ‘hey, we have something for you too.’”
— Podcast Host 1 [08:39]
“...most of the major pushes coming from institutions... actively looking to do things on chain.”
— Brendan Sedo [17:51]
“...all of what you mentioned stems on this innovation that we had which was non-custodial Bitcoin staking...”
— Brendan Sedo [11:15]
“...literally no risk of anyone taking your bitcoin, period. If the Core blockchain went down tomorrow, your bitcoin’s fine... that was really interesting because it brought yield to bitcoin for the first time ever in a permissionless fashion...”
— Brendan Sedo [12:34]
“...we’re not asking you to bring your Bitcoin on chain, trust bridges, move it through exchanges—you’re time-locking it in your own wallet...”
— Brendan Sedo [14:53]
“Bitcoin maximalists are not going to bother... but that’s actually not the majority of the bitcoin community... there’s some pent up demand to do things.”
— Brendan Sedo [17:51]
“It’s like a bitcoin neobank that has a savings account for bitcoin, you can deposit, earn interest, take a loan... spend stables or spend bitcoin.”
— Brendan Sedo [21:25]
“I’d like to see this parallel system where there’s a ton of utility and ways you can put your bitcoin to work... but you actually custody and control the asset yourself.”
— Brendan Sedo [24:12]
“...token incentives... you get paid up front in tokens for promises of the future, that’s the opposite of every tech business ever built...I think a lot of that’s being rethought.”
— Brendan Sedo [29:06]
“If you don’t have the time, knowledge, and resources... and you really do believe in bitcoin and crypto long-term, you can look to dollar-cost average... don’t overcomplicate it.”
— Podcast Host 1 [36:22]
On Bitcoin Staking:
“Literally no risk of anyone taking your bitcoin, period... in your own wallet... that was really interesting because it brought yield to bitcoin for the first time ever in a permissionless fashion…”
— Brendan Sedo [12:34]
On Opening BTC Utility to New Users:
“You’re essentially opening the doors to them and saying, hey, we have something for you too.”
— Podcast Host 1 [08:39]
On Institutional Adoption:
“Every digital asset treasury company in the world is looking to do stuff with their bitcoin... there’s some pent up demand to do things.”
— Brendan Sedo [17:51]
On SatPay:
“Puts a nice interface on a lot of these dapps... just a very simplified, streamlined, easy to use app called SatPay...”
— Brendan Sedo [21:25]
“The group at Core is awesome... two million followers, a lot of engagements, an awesome account.”
— Brendan Sedo [38:10]
Summary Prepared For:
Anyone interested in how institutions and retail can now earn yield on Bitcoin, with insights on technical innovation, institutional market fit, product evolution, and the maturing landscape of crypto.