They got to my family's mining facility in January 18th, 2018.

And from that point, my family had to make the decision to leave the country.

And my brother, who was the only one in my family in the country at the time,

had to flee that night with his wife and two kids and was only really able to do so

because so much of his wealth at that point had already been ported to Bitcoin

that he could take with himself through the border. And that gave our family a chance to rebuild

outside of Venezuela and the free world.

Value capture is shifted away from layer ones.

A new CoinDesk research report reveals that while layer one still holds 90% of market cap,

they now capture only 12% of on-chain fees.

Explore the structural changes defining 2026 from Bitcoin's post-quantum risks and Ethereum's roll-up economics

to the new era of compliant privacy with input outputs midnight at coindesk.com forward slash research.

Hey, everyone, you're watching CoinDesk. I'm Jen Sanassi. A massive $60 billion Bitcoin stash. That's the rumor currently swirling around the Venezuelan regime.

But our next guest says

not so fast. He argues that government corruption and incompetence makes a treasury of that size

nearly impossible. Joining us now is Leden co-founder Maurizio di Bartolomeo. Hey, Marizio. Hey, Jan, great to see you.

Great to have you here.

Venezuela is really all we've been talking about.

You were born and raised there.

Your own family's mining equipment was seized by the government.

That's why I want to start our conversation today.

Talk to me about what happened.

...