Layer One

The Block
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The Layer One podcast, created in collaboration with Avalanche, features co-hosts Steven Gates and Kelvin Sparks as they unpack the real forces driving the crypto market forward. Through candid conversations with the industry’s true movers and shakers, the show delivers clear, grounded insights that cut through the noise.

  1. 51 MIN AGO

    Dinari’s Anna Wroblewska on Bringing US Stocks Onchain

    In Episode 13 of Layer One, The Block’s Kelvin Sparks and co-host Ava Labs President John Wu are joined by Anna Wroblewska, Chief Business Officer at Dinari, to break down how tokenized equities are expanding access to U.S. capital markets globally. She explains Dinari’s custodial model, how liquidity is sourced across traditional and onchain markets, and why infrastructure, not speculation, is the real unlock. OUTLINE00:00 - Introduction01:32 - What Dinari Is03:21 - Institutions Arrive06:01 - Tokenized Trades08:38 - 24/7 Markets13:24 - Why B2B Rails16:18 - Regulation and Access24:31 - Global Investor Demand30:29 - S&P Digital Index47:54 - DeFi and Collateral Guest links:Anna Wroblewska - https://x.com/annabelleactaDinari - https://x.com/DinariGlobal Host links:John Wu - ⁠⁠⁠https://x.com/John1wuKelvin Sparks - https://x.com/imyoungsparks⁠⁠⁠The Block - https://x.com/TheBlockCoAva Labs - https://x.com/avalabs --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    54 min

  2. 29 APR

    How Tassat and Lynq Are Rebuilding Financial Infrastructure

    After appearing in recent episodes, Ava Labs President John Wu officially joins Layer One as co-host. 🥳 In Episode 12, he joins Kelvin Sparks alongside Andre Frank, COO of Tassat, and Jerald David, CEO of Lynq, to discuss how Tassat and Lynq are rebuilding financial infrastructure with real-time settlement and yield-bearing assets on Avalanche. The conversation covers the shift from legacy banking rails to always-on blockchain systems, capital efficiency through “yield in transit,” and the growing demand from institutions for compliant, risk-managed solutions. OUTLINE00:00 - Introduction01:38 - Tassat Background03:37 - What Lynq Is05:55 - Episode Overview06:42 - Avalanche Migration08:48 - Why Avalanche10:57 - Institutional Adoption17:15 - Regulation and Compliance25:23 - Yield in Transit36:59 - Real-World Use Cases Guest links:Andre Frank -    / andre-frank  Tassat - https://x.com/tassatgroupJerald David -   / jerald-david  Lynq - https://x.com/Lynq_Network Host links:John Wu - ⁠⁠⁠https://x.com/John1wuKelvin Sparks - https://x.com/imyoungsparks⁠⁠⁠The Block - https://x.com/TheBlockCoAva Labs - https://x.com/avalabsAvalanche - https://x.com/avax --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    50 min

  3. 20 APR

    Inside Bitwise’s Avalanche ETP and Institutional Strategy with Matt Hougan

    In Episode 11 of Layer One, The Block’s Kelvin Sparks and special co-host Ava Labs President John Wu are joined by Matt Hougan, CIO of Bitwise, to discuss the launch of the Avalanche ETP and how institutional investors are approaching crypto exposure. He breaks down the rapid expansion of tokenized real-world assets, the role of ETFs in onboarding capital, and why this cycle may differ from previous ones. OUTLINE00:00 - Introduction01:40 - Avalanche ETP Overview02:45 - ETF Differentiation04:34 - Staking and Yield06:19 - Institutional Strategy09:04 - Competing L1 Models14:22 - Bitcoin Price Thesis18:49 - Dual Market Narratives21:57 - Institutional Capital Flows30:02 - AI and Crypto Future Guest links:Matt Hougan - https://x.com/Matt_HouganBitwise - https://x.com/BitwiseAva Labs - https://x.com/avalabs Host links:John Wu - ⁠⁠⁠https://x.com/John1wuKelvin Sparks - https://x.com/imyoungsparks⁠⁠⁠ --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    44 min

  4. 2 APR

    How Securitize is working with NYSE to bring equities onchain

    In Episode 10 of Layer One, The Block’s Kelvin Sparks and special co-host Ava Labs President John Wu are joined by Carlos Domingo, CEO of Securitize, to discuss the rapid rise of tokenized financial assets and what it takes to bring them into regulated markets. The conversation also covers regulatory clarity, BlackRock’s role in accelerating the space, and how tokenized assets will reshape capital markets over the next decade. OUTLINE00:00 - Intro00:52 - Background and Origins01:45 - First Tokenized Securities Trade03:30 - Early Institutional Adoption04:36 - NYSE Tokenization Partnership07:05 - Why Public Equities First09:57 - From Why to What11:10 - Why Avalanche Was Chosen12:48 - Compliance and Settlement17:15 - What Drove Adoption Guest links:Carlos Domingo - https://x.com/carlosdomingoSecuritize - https://x.com/SecuritizeJohn Wu - https://x.com/John1wuAva Labs - https://x.com/avalabs Host links:Steven Gates - ⁠⁠⁠https://x.com/stvngts⁠⁠⁠Kelvin Sparks - https://x.com/imyoungsparks⁠⁠⁠--------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today👉 ⁠⁠⁠https://theblock.co/campus

    32 min

  5. 18 MAR

    Why tokenized assets are DeFi’s biggest unlock

    In Episode 9 of Layer One, The Block’s Kelvin Sparks and Hypha founder Steven Gates were joined by Nicholas Kunkel (Chronicle) and Rhett Shipp (Avant) to break down the current state of DeFi and what’s actually holding the industry back. They argue that core primitives are already built, and the real unlock lies in tokenized assets, improved liquidity, and seamless integration with traditional finance. The conversation also explores stablecoin economics, DAO limitations, on-chain credit markets, and what founders need to succeed in crypto today. OUTLINE00:00 - Intro01:11 - Getting Into DeFi04:38 - Early MakerDAO Days08:43 - Where Value Accrues12:23 - Yield and Stablecoins17:56 - How DeFi Yield Works23:34 - SubDAOs and Governance30:33 - Do We Need New Primitives36:25 - Tokenized Assets Unlock53:55 - Founder Advice Guest links:Rhett Shipp - https://x.com/RhettShippAvant - https://x.com/avantprotocolNiklas Kunkel - https://x.com/nomos_paradoxChronicle - https://x.com/ChronicleLabs Host links:Steven Gates - ⁠⁠⁠https://x.com/stvngts⁠⁠⁠Kelvin Sparks - https://x.com/imyoungsparks⁠⁠⁠ --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    1hr 9min

  6. 25 FEB

    Supply, demand and durability: A framework for surviving cycles

    In Episode 8 of Layer One, The Block’s Kelvin Sparks and Hypha founder Steven Gates were joined by Santiago R. Santos of Inversion Capital. He explains why many crypto token valuations are structurally flawed and outlines his framework for investing in durable, cash-flow-supported adoption, with a focus on B2B stablecoin use cases. The group debates how to value crypto beyond tribal narratives, arguing that many token prices overpay for a future that still requires regulatory clarity and real demand for blockspace.  OUTLINE00:00 - Intro00:00:27 - Scope and disclaimer00:01:41 - FDV and investor framing00:04:02 - Valuation bias00:12:23 - Investing through cycles00:21:44 - Choosing Avalanche infrastructure00:28:29 - Retrofitting real businesses00:35:46 - Who’s building this model00:41:52 - Writing, thinking, first principles00:50:16 - Fieldwork beats theory00:52:53 - Asking the right questions01:00:23 - TGE and FDV reality01:07:30 - Final takeaways Host/Guest links:Santiago R Santos - twitter.com/santiagoroelInversion Capital - twitter.com/inversion_capSteven Gates - ⁠⁠⁠twitter.com/stvngts⁠⁠⁠Kelvin Sparks - ⁠⁠⁠twitter.com/imyoungsparks⁠⁠⁠ --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    1hr 9min

  7. 18 FEB

    Loyalty becomes lifestyle: Rain and Uptop on stablecoin rewards

    In Episode 7 of Layer One, The Block’s Kelvin Sparks and Hypha founder Steven Gates were joined by Charles Yoo-Naut, co-founder of Rain, and John Gomez, co-founder and former CEO of Uptop. The group discussed the convergence of stablecoin payments and on-chain loyalty infrastructure, why rewards plus payments are becoming table stakes, and how sports and IP are driving real-world adoption. OUTLINE00:00 - Intro03:58 - What is Rain04:30 - Uptop + acquisition fit06:01 - Fundraise & M&A lessons12:43 - Why rewards matter16:29 - Stablecoin “aha” moment25:26 - Regulation, timing, builders33:53 - Lifestyle banking & IP41:59 - Marketplaces, on-ramps, costs47:35 - Why raise $250M50:11 - Stablecoins in 3 years51:56 - Proliferation of issuers53:59 - Closing remarks Host/Guest links:Charles Yoo-Naut - twitter.com/cnautRain - twitter.com/raincardsJohn Gomez - linkedin.com/in/john-timoney-gomez-a64b669b/Uptop - twitter.com/uptop_xyzSteven Gates - ⁠⁠⁠twitter.com/stvngts⁠⁠⁠Kelvin Sparks - ⁠⁠⁠twitter.com/imyoungsparks⁠⁠⁠ --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters!🚨 Breaking News👨‍🔬 Expert Analysis📈 Market InsightsSubscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto?🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams Start your free trial today 👉 ⁠⁠⁠https://theblock.co/campus

    57 min

  8. 9 FEB

    VanEck's AVAX thesis: product-market fit, economic clarity & institutional distribution

    In episode six of Layer One, The Block's Kelvin Sparks and Hypha Founder Steven Gates were joined by Ava Labs's VP of Business Development of Onchain Finance, Morgan Krupetsky and VanEck's Head of Digital Asset Research Matthew Siegel. Together, the group discussed what actually drives institutional conviction in crypto. Siegel explained why VanEck chose Avalanche for its first alt-L1 ETF, citing product-market fit, economic clarity, and an active BD team onboarding real institutions. The conversation covers DATs vs ETFs, the innovator's dilemma facing banks, and why market downturns are exactly when serious builders separate from tourists. Host/Guest links: Matthew Siegel - twitter.com/matthew_sigelVanEck - twitter.com/vaneck_usMorgan Krupetsky - twitter.com/MorganKrupetsky Ava Labs - twitter.com/AvaLabs Steven Gates - ⁠⁠⁠twitter.com/stvngts⁠⁠⁠ Kelvin Sparks - ⁠⁠⁠twitter.com/imyoungsparks⁠⁠⁠  --------------------------------------------------------------------------------- Subscribe to The Block's Newsletters! 🚨 Breaking News 👨‍🔬 Expert Analysis 📈 Market Insights Subscribe now 👉 ⁠⁠⁠https://www.theblock.co/newsletters⁠⁠⁠ -------------------------------------------------------------------------------- Hiring in crypto? 🧠 Find top talent fast with Campus, powered by The Block! ✅ Challenge candidates with our Crypto Assessment Test ⚡ Hire faster, build stronger teamsStart your free trial today  👉 ⁠⁠⁠https://theblock.co/campus

    58 min
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About

The Layer One podcast, created in collaboration with Avalanche, features co-hosts Steven Gates and Kelvin Sparks as they unpack the real forces driving the crypto market forward. Through candid conversations with the industry’s true movers and shakers, the show delivers clear, grounded insights that cut through the noise.

Information

  • Creator
    The Block
  • Years Active
    2025 - 2026
  • Episodes
    13
  • Rating
    Clean
  • Copyright
    © 2026 The Block

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