The Big Talk
The Big Whale: You run a tech unicorn. What has AI concretely changed in the way you manage Zama? Rand Hindi: The most visible decision is how we manage headcount. We've stopped hiring until every team has integrated AI into their day-to-day work. When someone tells
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Kaiko's acquisition of Cometh caught part of the market off guard. On paper, it's hard to see where a data provider and a DeFi infrastructure specialist converge. What's the logic here? You have to understand that Kaiko is built on three pillars. The first
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BNP Paribas has been running digital asset experiments for several years now. What is your assessment? We are focused on the tokenization of financial instruments. We have tested several formats: project finance, debt, money market fund units, and we participated in the ECB's experiments on wholesale central bank
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Let's start with a quick look back. How did Stokr come about, and where does it stand today? STOKR was founded in 2018 in Luxembourg. Our initial focus was on SME financing through digital securities issuances. Over time, our product-market fit shifted toward the Bitcoin ecosystem. A
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The Big Whale: The GENIUS Act passed with broad bipartisan support. The CLARITY Act is now entering committee markup. How do the two bills fit together? Dante Disparte: You can't think about the CLARITY Act without the GENIUS Act. A European observer would get this intuitively: with MiCA,
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Coinhouse ticks a lot of operational boxes: MiCA authorisation in progress, over 50 employees, significant assets under management. Few French players show this level of maturity. How do you explain it? First, let's add some nuance. There are a few French players of meaningful size. Bitstack, for instance,
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Before we begin, we'd like to address the Kelp hack over the weekend. It triggered a major liquidity crisis on Aave, with nearly $10 billion frozen. How did Morpho weather the episode? There was zero contagion on Morpho, and that's exactly the point. We built an
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You've announced that HEURO has crossed the 600 million euro mark in circulating stablecoins. What does that figure mean relative to the existing market? Depending on estimates, there were between 400 and 700 million euros' worth of euro stablecoins in circulation before our issuance. With our additional
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Tell us about Dowsers. What exactly do you do? We do formal verification for on-chain finance. It's the highest level of software security that exists — and that's not an opinion, it's a scientific fact. To give you a concrete reference: the three automated
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The Big Whale: Google just published a research paper that is generating a lot of buzz in the crypto ecosystem. Can you explain in simple terms what it's about? Charles Guillemet: Google has introduced a new algorithm that, in theory, can break ECDSA, i.e. elliptic curve cryptography,
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What is AllUnity's business model and what are your main sources of revenue? We are stablecoin issuers. AllUnity is a German electronic money institution, licensed by BaFin in Germany, fully compliant with the MiCA regulation. Our initial model, like that of all issuers, is built on interest generated
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Bitstack's Series A (15 million dollars) was completed last December. Why open the capital to the public so quickly? From the very beginning, every time we announced a major milestone, the same question came back from our clients: "Can we participate, and how?" This wasn'