Is Coinbase becoming the "everything exchange"? Boris Ilyevsky, Head of Coinbase Derivatives Exchange, joins host Mark Longo to discuss their massive expansion beyond crypto into traditional commodities, equities, and prediction markets.

On This Episode:

• The Commodities Boom: Record retail volume in gold, silver, and WTI crude oil.

• Going 24/7: Coinbase's plans to launch the first US weekend trading for gold and silver futures, plus new perpetual listings (HYPE & BNB).

• 24/7 Options Debate: Will traditional equity options ever move to a round-the-clock schedule?

• Modernizing Finance: Prediction markets, real-world asset tokenization, and using USDC as real-time collateral.

• Bitcoin Breakdown & Altcoin Universe: Analyzing BlackRock's IBIT options flow, its strange correlation to the VIX, and heavy options activity in ETH, BMNR, and Circle (CRCL).

Institutional adoption of crypto is here, but the "nightmare" of counterparty risk still keeps many major players on the sidelines. In this episode, Mark Longo sits down with Gideon Hyams, co-founder and chairman of STS Digital, to discuss how they are bridging the gap between traditional finance (TradFi) and the wild world of crypto derivatives.

Gideon shares his journey from the legendary O'Connor market-making desks to the crypto "dark side," explaining why STS Digital is now making markets in over 400 different tokens. We dive deep into:

• The Evolution of Skew: How the "Ibit" effect has fundamentally changed Bitcoin volatility and why Ethereum might be the better play for tail-risk protection.

• Solving Counterparty Risk: The importance of regulated jurisdictions like Bermuda and institutional-grade custody integration with BitGo and Fireblocks.

• Exotic Options & Structured Products: Moving beyond simple covered calls to risk reversals, reverse knock-outs, and yield-enhanced notes.

• The Altcoin Universe: Why the Central Limit Order Book model fails for long-tail assets and how RFQ (Request for Quote) systems are saving the day.

Later in the Bitcoin Breakdown and Altcoin Universe segments, where we look at the "summer lull" hitting the markets, the current state of Bitcoin and ETH volatility, and the latest moves in Solana, Circle, and even Shiba Inu.

The "Fear Gauge" has officially arrived in the crypto world. In this episode, Mark Longo welcomes Rob Hocking, Global Head of Derivatives at Cboe, to the Hot Seat to break down the launch of the Cboe Bitcoin Volatility Index (BITVX).

In this episode, we explore:

• The BITVX Reveal: How Cboe is using IBIT (iShares Bitcoin Trust) options to calculate a 30-day forward-looking volatility metric for Bitcoin.

• Institutional Shift: Why Bitcoin is evolving from a retail "crypto trade" into a legitimate macro asset class.

• The SKU Flip: How IBIT options have fundamentally changed the "call wing" dynamics of Bitcoin volatility.

• Tradable Volatility: Is a tradable Bitcoin VIX future on the horizon? Rob shares the technical hurdles and Cboe's vision.

• Cboe's Crypto Ecosystem: A look at Bitcoin Index options (MBT/CBT), perpetual futures, and the potential for crypto prediction markets.

Plus, Mark breaks down the weekly Bitcoin Breakdown, covering the recent rally to $76k, the cooling of bearish skew, and heavy put-spread activity in the IBIT tape.