Bits + Bips: Why Tron’s IPO Matters & How Crypto Exchanges Will Win - Ep. 853

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 18 June 2025

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week’s episode of Bits + Bips, the panel digs into why Tron’s rumored IPO is more than a headline, what Wall Street’s quiet shift into stablecoins signals, and how exchanges are racing to control token flow, even as regulation hangs in the balance. They also explore: What the Israel–Iran conflict means for global markets, oil prices, and crypto positioning Whether banks can adopt stablecoins without threatening their own deposits If regulatory clarity will come fast enough to shape the next crypto phase How to tell if ETH’s revival has staying power Sponsors: Bitwise Hosts: Ram Ahluwalia, CFA, CEO and Founder of Lumida Steve Ehrlich, Executive Editor at Unchained Guests: Christopher Perkins, President of CoinFund Vishal Gupta, Cofounder and CEO of True Markets. Links Tron and Justin Sun FT: Crypto group Tron to go public after US pauses probe into billionaire founder Unchained: Eric Trump Claims No Public Involvement in Tron’s Nasdaq Entity The Guardian: Crypto entrepreneur eats banana art he bought for $6.2m Israel - Iran WSJ: Israel Takes Control of Iran’s Skies—a Feat That Still Eludes Russia in Ukraine How Israel’s Mossad Smuggled Drone Parts to Attack Iran From Within Stablecoins and TradFi Unchained: JPMorgan Files ‘JPMD’ Trademark, Hints at Bigger Crypto Offering Coinbase and Amex Team Up on Bitcoin Card as Exchange Reveals Broad Expansion Plans Bloomberg: Bessent Says $2 Trillion Reasonable for Dollar Stablecoin Market. WSJ: Walmart and Amazon are considering launching U.S. dollar-pegged stablecoins Reuters: French Societe Generale became the first major bank to launch a dollar-pegged stablecoin The Information: Financial markets giant DTCC is exploring a stablecoin, according to The Information Regulation Unchained: White House Rejects Ban on Conflicts of Interest in Crypto’s CLARITY Act Timestamps: 🎬 0:00 Intro 📰 4:18 Why Tron’s potential IPO creates a dilemma for investors, and how Justin Sun’s Trump ties play into it 🛡️ 15:58 Should exchanges like Coinbase let investors trade whatever they want? 🏦 20:47 The reason why crypto treasury companies even exist 📊 25:59 What is driving the fierce competition among exchanges 💵 34:18 Can JPMorgan, Bank of America, and other TradFi giants succeed with stablecoins? 🤔 37:58 Will stablecoins cannibalize banks’ own deposit bases? 🌍 45:51 How the Iran–Israel conflict could shake macro markets and crypto sentiment 🚀 55:37 Why Ram and Chris are calling for an ETH breakout 📜 57:47 What are the risks if crypto regulation fails? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Why is this so exciting? Because now people, you're essentially abstracting all the operational complexity around crypto.
0:09.0	And you can just buy these things that are pretty hot right now and they take on meme-like properties.
0:14.0	Are there some fundamentals? Yeah, I think so. And you touched on that with the fact that Tron is a major stable coin distributor.
0:23.0	And gosh, doesn't this also fit into this massive theme that we're seeing right now?
0:28.1	Hi, everyone.
0:29.2	Welcome to Bits and Bips, exploring how crypto and macro collide one basis point at a time.
0:34.6	Today, we're going to talk about Tron going public.
0:36.8	You'll get our reactions to
0:38.3	the Israel around war, the impact of progress on the Genius Act, and also the White House
0:44.0	rejecting conflict-interest rules related to the market structure bill that are known as the
0:49.5	Priority Act. The first is some introductions. I'm your host, Stephen Ehrlich, High Scribe of the Unchained Kingdom, and I'm here with
0:57.0	Ram Alawalia, Mastro Wealth, leader of Lumida, and two special guests, Chris Perkins,
1:03.9	Master Strategist of Coin Fund Holdings, and Vishal, Gupta, Lord of the True Market
1:09.1	Wedger.
1:10.1	Now, we're here to discuss the latest stories in the world of crypto and macro.
1:14.7	Just remember, nothing that we say here is investment advice.
1:18.2	Please click Unchained.com backslash bits and bibs for more information and disclosures.
1:24.5	So, Chris and Michelle, I know both of you are new to the show.
1:28.3	So before we get into anything, I'd like to just ask you both to briefly introduce
1:33.3	yourselves to the audience. Chris, why don't you go first?
1:37.3	Sure. Chris Perkins, president of Coin Fund, one of the managing partners.
1:41.3	My career I started as a U.S. Marine fought in Iraq, came home, and then I went to
	...

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