Why JPMorgan and Shopify Are Rolling Out New Products on Ethereum Layer 2 Base

JPMorgan is launching a token on Base. Is this the future of onchain banking?

On Tuesday, JPMorgan announced that its blockchain unit is launching JPMD, a USD deposit token for institutional clients, on Base. That’s right: the world’s biggest bank by assets and the 12th largest company by market cap is putting real dollars onchain.

JPMD isn’t quite a stablecoin, but it’s close. It represents actual dollar deposits at JPMorgan and will be used by institutional clients for blockchain-based transactions. The bank plans to run a pilot over the coming months and eventually expand it to other user groups and currencies, pending regulatory approval.

To understand what this means for the broader crypto ecosystem (and why JPMorgan chose Base), we brought on Jesse Pollak, head of Base and Coinbase Wallet. In this episode, Jesse explains:

• Why JPMorgan (and Shopify) chose Base

• What deposit tokens are, and how they differ from stablecoins

• Why infrastructure is finally “ready” for institutions

• How Base scaled from 2.5 million to 35 million gas/sec

• What’s next for Coinbase users who’ll have one-tap access to onchain assets

• And Jesse’s response to the critics who said that Coinbase doesn’t give enough credit to Ethereum

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

Arthur Hayes and Hanson Birringer on Hyperliquid’s Success (And What Could Stop It)

It made users rich. It skipped VCs. It’s challenging Binance. Hyperliquid has been a huge success this year, but can it be sustained?

Hyperliquid is one of the most talked-about platforms in crypto right now.

It’s an onchain perpetuals exchange that sidestepped VCs, built a deeply loyal user base, and launched with transparency most rivals avoid. But it’s also staring down some massive challenges—from incoming competitors like Coinbase and Robinhood, to the technical hurdles of decentralizing its core exchange engine.

Arthur Hayes, CIO of Maelstrom and one of crypto’s most iconic traders, and Hanson Birringer of Flowdesk discuss:

• What actually drove Hyperliquid’s success

• How a user-first approach is outpacing venture-backed models

• Whether the James Wynn saga was legit

• Why the HIP-3 proposal could be the “holy grail” for DEXes

• And whether Hyperliquid can survive its next big test: the entrance of giants

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

Bits + Bips: Why Tron’s IPO Matters & How Crypto Exchanges Will Win

A new crypto treasury powered by Tron. Wall Street circling stablecoins. And what will determine the winners amongst crypto exchanges. 

In this week’s episode of Bits + Bips, the panel digs into why Tron’s rumored IPO is more than a headline, what Wall Street’s quiet shift into stablecoins signals, and how exchanges are racing to control token flow, even as regulation hangs in the balance.

They also explore:

• What the Israel–Iran conflict means for global markets, oil prices, and crypto positioning

• Whether banks can adopt stablecoins without threatening their own deposits

• If regulatory clarity will come fast enough to shape the next crypto phase

• How to tell if ETH’s revival has staying power

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

Toxic Flow, Cancel Wars, and the Unstoppable Rise of Onchain Perps – The Chopping Block

Crypto’s Onchain Takeover: Hyperliquid’s $1B Airdrop, SPAC-Style Mania, and CZ’s Losing Battle

This week, we’re joined by Hyperliquid founder Jeff Yan, the quiet powerhouse behind DeFi’s fastest-growing exchange. With 75% of onchain perp volume, no VC money, and a $1B airdrop, Hyperliquid is rewriting what crypto protocols can be. We dive into Jeff’s minimalist strategy, the cancel wars with toxic flow, and the JellyJelly controversy that sparked a feud with CZ. Plus: HIP-3 and the future of permissionless perps, SPAC-style hype vehicles taking over Wall Street, and why stablecoin regulation just triggered a 40% rally in Circle stock. Is crypto evolving—or just getting financialized to death?

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

In Case You Missed It 👀

Tron Is Now More Expensive Than Ethereum. Will That Hurt Justin Sun’s New Company?

With stablecoins riding high, a reverse merger with a Nasdaq-listed firm seems like perfect timing. But Tron is quietly starting to face some headwinds.

CLARITY Act Will Miss Trump’s August Deadline: Senate Banking Chairman

The White House wants Congress to pass crypto bills addressing stablecoins and crypto market structure by August. One is on track, but the other just got pushed into the fall.

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