The crypto industry is gaining recognition and achieving its objectives, signaling a positive trajectory. Despite challenges, the infrastructure for crypto is evolving with a focus on modular solutions and interoperability. Bitcoin and stablecoins serve as alternatives to fiat currencies, each wi…
Key takeaways
The crypto industry is gaining recognition and achieving its objectives, signaling a positive trajectory.
Despite challenges, the infrastructure for crypto is evolving with a focus on modular solutions and interoperability.
Bitcoin and stablecoins serve as alternatives to fiat currencies, each with unique advantages.
The legacy banking system’s inefficiencies highlight the potential of blockchain technology to address opacity and risk.
Tokenized assets are gaining traction, indicating a cultural shift in finance.
Privacy in digital assets is becoming more relevant, allowing for compliance without revealing sensitive information.
The SEC’s previous hostile approach had a chilling effect, but recent shifts suggest a more collaborative environment.
Regulatory sentiment is shifting towards personal freedoms and civil liberties, impacting privacy discussions.
The crypto industry is experiencing a shift where being crypto native is no longer a prerequisite for hiring.
The perception of crypto as being tied to political figures could lead to backlash against the industry.
Ethereum faces a critical decision between prioritizing decentralization and pragmatic needs.
The next wave of demand in crypto is coming from newcomers, not just crypto-native users.
Guest intro
Jill Gunter is a prominent voice in the cryptocurrency space, currently serving as a key figure at Espresso, where she explores the evolving landscape of crypto technology and its implications for privacy and finance. Previously, she co-hosted the acclaimed podcast “What Grinds My Gears” on the Blockworks network, blending her Wall Street experience with insights from the crypto world. With a background that includes roles at Goldman Sachs and Slow Ventures, Jill brings a unique perspective on the intersection of traditional finance and digital assets, making her an influential commentator on the future of the industry.
Crypto’s growing recognition
Crypto is increasingly recognized as a significant industry, achieving its objectives.
I think that we are winning… crypto as a technology and dare I say as an industry… is winning
— Jill Gunter
The current state of crypto is ambiguous, with mixed signals about its success.
Is crypto dead? This is the most viral case I’ve seen titled ‘crypto is dead’
— Jill Gunter
Infrastructure for crypto is evolving with a focus on modular solutions and interoperability.
I’m a cofounder at Espresso, which is a blockchain infrastructure company
— Jill Gunter
The cynicism in the crypto space often stems from being too close to market dynamics.
It’s so difficult… to take that step back and see the forest for the trees
— Jill Gunter
Bitcoin and stablecoins as alternatives
Bitcoin serves as an alternative to fiat currencies in specific niches.
I think undoubtedly bitcoin has become that at least in some niches.
— Jill Gunter
Stablecoins may serve as a more effective alternative to fiat currencies than Bitcoin.
I think stablecoins actually perhaps even more so than bitcoin.
— Jill Gunter
The legacy banking system’s inefficiencies create opacity and risk, which blockchain can address.
The legacy plumbing of like each bank running its own individual database was terrible
— Jill Gunter
The rise of alternative financial assets indicates a cultural shift in finance.
Democratizing the type of financial assets you can get on Wall Street has happened
— Jill Gunter
The role of privacy in digital assets
Privacy in digital assets is becoming more relevant, allowing for compliance without revealing sensitive information.
You can do really interesting things with privacy and with compliance with zk
— Jill Gunter
We are entering an era where privacy-focused products will become possible due to digital assets.
There’s a ton of these types of products that are going to become possible now
— Jill Gunter
Privacy is crucial for both personal freedoms and corporate interests.
Privacy… melds the two because if you are an individual who really cares about personal freedoms
— Jill Gunter
Large global banks prioritize privacy from competitors rather than just from the government.
If you are a large global bank you really care about privacy from your competitors
— Jill Gunter
Regulatory shifts and their impact
The SEC’s previous hostile approach had a chilling effect on the industry.
Issuing subpoenas against entrepreneurs had a massive chilling effect
— Jill Gunter
The SEC’s recent shift could lead to a more collaborative environment for crypto companies.
The SEC has thrown open its front door and started inviting crypto entrepreneurs
— Jill Gunter
Regulatory sentiment has shifted towards greater emphasis on personal freedoms.
Sentiment has shifted dramatically in the kind of conservative direction
— Jill Gunter
Crypto has significantly rebalanced the conversation towards personal freedoms and empowerment.
Crypto has had a great impact rebalancing the conversation towards personal freedoms
— Jill Gunter
The evolving crypto market
The crypto industry is experiencing a shift where being crypto native is no longer a prerequisite for hiring.
We can teach them crypto, so there’s no longer this kind of unifying culture
— Jill Gunter
The next wave of demand in crypto is coming from newcomers, not just crypto-native users.
The next wave of demand is coming from newcomers like corporates or new startups
— Jill Gunter
The most exciting growth in crypto is from developers and entrepreneurs who are not crypto native.
Seeing that fresh blood kind of enter the space is the most bullish thing
— Jill Gunter
The flexibility of the L2 framework is appealing to newcomers who want to customize their environments.
The flexibility that the L2 framework offers is really landing well with newcomers
— Jill Gunter
Ethereum’s strategic crossroads
Ethereum will face a critical decision between prioritizing decentralization and pragmatic needs.
Ethereum is going to be forced into a tough reconciliation about decentralization
— Jill Gunter
Corporate players entering the crypto space are changing the priorities for infrastructure builders.
Corporate players coming in changes the priorities for crypto infrastructure builders
— Jill Gunter
The crypto market will evolve to include more pragmatic applications alongside Bitcoin and Ethereum.
We’re gonna have a lot of Spotify equivalents that get created here
— Jill Gunter
There will no longer be a crypto monoculture as the market diversifies.
There is no longer going to be a crypto monoculture
— Jill Gunter
The future of crypto infrastructure
Infrastructure in crypto is durable and essential for liquidity.
Infrastructure is really durable, and those elements are still around killing it
— Jill Gunter
Corporate chains are building on crypto rails, which is a notable trend.
Everything you mentioned is building on crypto rails
— Jill Gunter
Building infrastructure in crypto is challenging but pays off in the long run.
It’s not always been easy building an infra in crypto but it pays off
— Jill Gunter
The relationship between applications and infrastructure in crypto is cyclical.
It always ebbs and flows between apps and infra
— Jill Gunter
Privacy and data monetization
The increasing legibility and actionability of financial transaction data is a significant shift.
All of the reams of data about financial transactions are becoming legible
— Jill Gunter
Internet platforms will monetize financial data patterns, leading to significant implications for privacy.
Every internet platform is going to be monetizing this and influencing you
— Jill Gunter
Privacy is crucial for both personal freedoms and corporate interests.
Privacy… melds the two because if you are an individual who really cares about personal freedoms
— Jill Gunter
Large global banks prioritize privacy from competitors rather than just from the government.
If you are a large global bank you really care about privacy from your competitors
— Jill Gunter
Political influences on crypto
The perception of crypto as being tied to Trump could lead to a significant backlash.
It’s going to become a talking point that Trump launched Trump Coin
— Jill Gunter
The belief that crypto is financially benefiting the Trump family is a concern in Washington.
The thing that’s gonna hold this industry back is that it is giving the Trump family billions
— Jill Gunter
The upcoming midterm elections may influence the visibility of crypto in mainstream media.
The midterm elections in the US are coming up, which will be interesting
— Jill Gunter
Mainstream media is increasingly covering crypto, reflecting its growing relevance.
You see so many more crypto-oriented articles in these publications
— Jill Gunter
