Tank Talks By Ripple Ventures

In this episode of Tank Talks, Matt Cohen sits down with Michael Arbus, CEO of moomoo Canada, for a wide-ranging conversation on Wall Street trading floors, Canadian fintech, crypto regulation, AI-powered investing, and what it really takes to build and scale financial technology companies. Michael’s career has taken him from the chaos of Bay Street and Wall Street desks at firms like RBC Capital Markets, TD, UBS, and Merrill Lynch to operating industrial businesses, helping scale Bitbuy into a regulated Canadian crypto marketplace, and now leading moomoo Canada as it pushes into self-directed retail trading, AI tools, options education, and investor communities.Michael shares the lessons he learned from covering major hedge funds, why one trade during the financial crisis made him rethink his role as an advisor, how spreadsheet-driven decision-making helped him turn around operating businesses, and why retail investors in Canada are ready for better tools than the legacy banking platforms have historically offered. They also dive into moomoo’s AI-native product strategy, agentic investing, algorithmic trading in natural language, Canada’s loyalty to big banks, the rise of retail options trading, and the founder advice Michael wishes more entrepreneurs would hear before wasting years on a business that cannot support them.Whether you’re a fintech founder, startup operator, retail investor, trader, or Canadian tech ecosystem builder, this episode is packed with sharp, practical insights on the future of investing, AI, and financial platforms.From Trading Floor Chaos to Wall Street Scar Tissue (03:30)Michael describes life on massive institutional trading floors as a “casino with pumped oxygen and insanity.” The early mornings, morning meetings, nonstop client calls, and constant pressure to be relevant. Why the trading desk taught him how to process information quickly and turn noise into action.Investing in Businesses vs. Investing in Stocks (12:12)Matt and Michael break down the difference between knowing a ticker and understanding the actual company underneath it. Why some good businesses can be bad stocks, and some bad businesses can still become great trades.Scaling Bitbuy and Learning the Reality of Regulation (22:33)Michael shares how he joined Bitbuy when the business was growing but still needed operational structure. The shift from institutional finance to B2C financial services. Why serving retail customers creates a much deeper sense of accountability, especially when people are trusting a platform with their hard-earned money.What moomoo Actually Is and Why Canada Matters (27:41)Michael explains moomoo’s global footprint across markets like Hong Kong, Singapore, Australia, the U.S., and Canada. The scale of Futu Holdings, the role of product and R&D, and why joining a 4,000-person global fintech machine was very different from building Bitbuy from a smaller startup team.Canada’s Loyalty Problem With Big Banks (29:44)Why Canadian retail investors are deeply loyal to legacy banking brands. Michael explains how trust, safety, and brand recognition are baked into Canadian financial behavior, and why moomoo believes a regulated challenger brand can win by offering a product Canadian investors have not seen before.AI Trading Inside the moomoo App (35:55)How moomoo became one of Canada’s first AI brokerage platforms. Why its AI tools are different from generic public LLMs because they are connected to paid, live market data behind the platform’s firewall. How this changes the quality of answers retail investors can access.Can moomoo Challenge Canada’s Banking Giants? (41:24)Michael explains who moomoo is built for and who it is not built for. Why the next generation of investors may care more about control, education, and outperformance than branch loyalty. How AI, job market uncertainty, and personal financial pressure could make self-directed investing more important.Canada’s Top Trader and the Nasdaq Partnership (43:20)Michael shares moomoo Canada’s trading competition, including real prize money, a $100,000 top prize, and partnership with Nasdaq. Why the initiative is designed to bring retail investors into the market in a more systematic, educated way.Can Your Startup Actually Pay for Your Life? (47:42)Michael explains why founders need to calculate their personal take-home pay before committing years to a venture. The danger of getting caught in a self-fulfilling story that feels exciting but cannot support the builder behind it.The Leadership Lesson That Still Matters Most (51:32)Michael closes with a simple but powerful lesson: kindness goes a long way. After scaling multiple teams from small groups to dozens or more than 100 people, he explains why intelligence is common, but kindness is what compounds in leadership, hiring, and company building.About Michael ArbusMichael Arbus is the CEO of moomoo Canada, a global self-directed investing and trading platform under Futu Holdings focused on retail investors, trading tools, market data, options education, and AI-powered investing experiences. Before joining moomoo, Michael built a diverse career across institutional finance, entrepreneurship, industrial operations, crypto, and fintech. He spent years on Bay Street and Wall Street trading desks at firms including RBC Capital Markets, TD, UBS, and Merrill Lynch, working with global hedge funds and covering M&A event-driven situations, mining, and energy stocks. He later moved into operating businesses, including oil, scrap metal, industrial recycling, and crypto mining, before helping scale Bitbuy into one of Canada’s leading regulated crypto marketplaces. Today, Michael is focused on expanding moomoo Canada, bringing institutional-grade tools to retail traders, and helping Canadian investors understand the future of AI, options trading, and self-directed financial platforms.Connect with Michael Arbus on LinkedIn: https://www.linkedin.com/in/michael-arbus-cfa-mba-299a49/Visit the moomoo Canada website: https://www.moomoo.com/caConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, host Matt Cohen sits down with Didier Lavallée, Founder and CEO of Tetra Digital Group, to explore one of the most important frontiers in Canadian fintech: regulated digital assets and the rise of a sovereign Canadian stablecoin.Didier shares his journey from more than a decade in capital markets and custody roles at RBC to founding Tetra following the collapse of QuadrigaCX, an event that exposed the need for secure and regulated digital asset custody in Canada. His experience in trading desks, foreign exchange, and global custody infrastructure helped shape his vision for building institutional-grade digital asset infrastructure.Didier also discusses Tetra’s growing platform, including Tetra Trust, Canada’s regulated digital asset custodian, and Tetra Unity, a custody orchestration SaaS platform designed to help institutions manage digital asset infrastructure. He explains how these tools bridge the gap between traditional financial systems and blockchain technology.From the launch of CADD, Tetra’s upcoming Canadian dollar-backed stablecoin, to the partnerships powering its ecosystem with companies like Wealthsimple, Shopify, and National Bank, Didier dives into the future of digital payments, cross-border settlement, and programmable financial infrastructure.Whether you’re interested in fintech innovation, digital assets, or the evolution of global payments, Didier’s perspective offers valuable insights into how Canada can build the next generation of financial infrastructure.The QuadrigaCX Collapse and the Birth of Tetra (10:12)* How the QuadrigaCX scandal exposed the need for regulated custody* The founding of Tetra to provide institutional digital asset security* Building a regulatory framework for digital asset custody in Canada* Why secure custody is foundational to the digital asset ecosystemBuilding Institutional-Grade Infrastructure for Digital Assets (14:35)* Why Tetra positioned itself as a regulated financial institution first* The development of Tetra Unity, its custody orchestration platform* How APIs and automation help reconcile transactions across crypto networks* Turning internal infrastructure into a scalable SaaS platformThe Vision for Canada’s Stablecoin: CADD (16:40)* Why Canada has lagged behind other jurisdictions in stablecoin development* How CADD aims to become Canada’s regulated fiat-backed stablecoin* Partnerships with Wealthsimple, Shopify, National Bank, and others* The importance of regulatory clarity for stablecoin innovationStablecoins and the Future of Payments Infrastructure (21:50)* How stablecoins enable 24/7 programmable settlement* Why traditional payment rails struggle with cross-border transfers* The role of stablecoins in treasury management and automation* How global companies could use stablecoins to streamline paymentsThe Role of Banks in the Digital Asset Transition (26:54)* Why traditional financial institutions must adapt or risk disruption* How fintech platforms are redefining customer expectations* The generational wealth transfer shaping financial innovation* Why blockchain infrastructure may operate invisibly behind consumer appsTetra’s Business Model and Growth Strategy (30:49)* The three pillars of Tetra’s business: custody, software, and stablecoins* How the Unity platform generates SaaS revenue* Custody services and institutional digital asset management* How stablecoin reserves generate yield and network incentivesCanada’s Opportunity in Digital Asset Infrastructure (36:56)* Why Canada once led the digital asset industry but has fallen behind* The need for clear regulatory frameworks to unlock institutional adoption* Tetra’s goal to become the institutional backbone of digital assets in Canada* Why 2026 could be a breakthrough year for the Canadian ecosystemAbout Didier LavalléeDidier Lavallée is the CEO of Tetra Digital, a Canadian digital asset infrastructure company focused on custody, stablecoins, and institutional blockchain services. With a background in financial markets and banking, Didier is building infrastructure designed to help financial institutions and businesses adopt digital assets securely and efficiently.Connect with Didier Lavallée on LinkedIn: https://www.linkedin.com/in/didier-lavalleeVisit Tetra Digital Group Website: https://tetradg.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, Matt Cohen sits down with Christian Weedbrook, founder and CEO of Xanadu, and Bill Fradin, CEO of Crane Harbor Acquisition Corp., to explore the historic SPAC merger that is bringing Xanadu to the public markets. With a focus on photonic quantum computing, Xanadu has rapidly advanced in the quantum tech space, positioning itself as a leader in both hardware and software innovation.The merger, which values Xanadu at $3 billion, will not only help accelerate the company’s growth but also raise significant capital, enabling it to expand its groundbreaking quantum computing solutions. Christian and Bill dive into why they chose the SPAC route, the strategic value behind their merger, and what sets Xanadu apart in the competitive quantum ecosystem.In addition, the episode takes a deep dive into Xanadu’s PennyLane software, which is already making waves in academia and the broader quantum community, and explores how the public market debut will position the company for future commercialization and innovation. Whether you’re an investor looking to understand quantum tech’s potential or someone interested in cutting-edge science, this episode is a must-listen.Introduction to Xanadu’s Quantum Computing Vision (01:23)Christian Weedbrook gives a quick overview of Xanadu’s mission to build useful quantum computers with their photonic modality using lidar photons. Learn how they’re positioning themselves in both hardware and software through their PennyLane software stack.Xanadu’s Decision to Go Public (04:09)Christian explains why going public was always part of Xanadu’s strategy and how the company transitioned from private funding rounds to a SPAC merger, raising $275 million in just four weeks.Why Choose a SPAC (10:02)Christian and Bill discuss the advantages of a SPAC over traditional IPOs, particularly for deep-tech companies like Xanadu, where the usual metrics for IPOs aren’t always applicable.The Power of PennyLane (14:43)Christian highlights the growing adoption of PennyLane, Xanadu’s quantum software, which is already being used across 150 universities worldwide and growing. Learn how going public will further accelerate its adoption.Strategic Partnerships and the Path to Commercialization (16:20)Bill shares insights on how going public will help Xanadu expand its industry partnerships, including major players like Volkswagen and Rolls-Royce, and how these collaborations could lead to breakthroughs in areas like electric vehicle batteries and pharmaceuticals.Energy Efficiency and the Future of Quantum Computing (24:39)Christian explains how quantum computing can drastically reduce energy consumption in computing, using Xanadu’s Borealis quantum computer as an example. This new approach promises significant energy savings, especially in industries like AI, drug discovery, and material design.Xanadu’s Road Ahead in the Public Market (27:27)Christian reflects on the monumental journey Xanadu has been on, comparing it to the early days of the internet and digital computing. He also discusses how this milestone will change the company’s trajectory and impact the quantum computing ecosystem.About Christian WeedbrookChristian Weedbrook is the founder and CEO of Xanadu, a leading quantum computing company based in Toronto. With a passion for quantum technology, Christian has spearheaded the development of Xanadu’s groundbreaking photonic-based quantum computers. His leadership has positioned Xanadu as one of the pioneers in quantum computing, not only through its hardware advancements but also with the development of its PennyLane software platform. Christian’s vision is to build quantum computers that are both useful and accessible to people around the world, and he is committed to driving forward the next era of quantum technology.Connect with Christian Weedbrook on LinkedIn: https://www.linkedin.com/in/christianweedbrook/Visit the Xanadu website: https://www.xanadu.ai/About Bill FradinBill Fradin is the CEO of Crane Harbor Acquisition Corp., a SPAC focused on identifying and merging with innovative companies in the tech sector. With over 20 years of experience in the financial industry, Bill has been at the forefront of numerous successful SPAC transactions, specializing in high-growth, disruptive technology companies. His leadership has been integral to bringing Crane Harbor to the public markets, and he has built a strong reputation for identifying companies with significant long-term potential. Bill’s experience in both private and public markets has made him a trusted partner for visionary companies like Xanadu, helping them navigate the complexities of the SPAC process and positioning them for success in the public arena.Connect with Bill Fradin on LinkedIn: https://www.linkedin.com/in/bill-fradin-83196b3/Visit the Crane Harbor Acquisition Corp website: https://www.craneharboracquisition.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Why is gold suddenly back in the spotlight?In this episode of Tank Talks, Matt Cohen sits down with Peter Grosskopf, a seasoned veteran in the precious metals and investment management world. Peter has seen it all. He helped scale Sprott from $5 billion to over $20 billion in assets under management, and now, he’s co-founded Argo Digital Gold, a platform pioneering the tokenization of physical gold.Peter breaks down how gold is reasserting itself as the ultimate hedge against today’s inflation, debt crises, and financial uncertainties. From the global financial crisis to the latest trends in digital gold, they explore how gold remains the bedrock of wealth preservation and why even the tech-driven world is waking up to its importance. Plus, hear why Peter believes tokenization is the key to democratizing access to gold for everyday investors.Peter shares his wealth of knowledge on the role of gold in modern portfolios, how blockchain is transforming the way we interact with real assets, and why long-term patience with gold has paid off for investors. Get ready for a deep dive into gold’s resurgence and what it means for the future of investment.The Role of Gold as a Defensive Hedge (02:03)Why gold acts as a key insurance asset in uncertain times and how it has performed during global financial crises. Peter explains why gold often takes a short-term dip but then explodes as a long-term haven.Scaling Sprott to $20 Billion (03:06)Peter discusses the pivotal moment that drove the growth of Sprott, focusing on the creation of physically-backed ETFs that gained the trust of investors globally. Learn how this became a game-changer for the company’s success.Real Assets and Family Office Strategies (09:14)A discussion on how real assets like gold and silver have become crucial in the portfolios of family offices, foundations, and institutional investors. Peter explains how real assets help hedge against inflation and government-controlled currencies.Gold’s Role in Today’s Macro Environment (12:09)How gold is perceived by investors in a high-debt, inflationary world. Peter shares his thoughts on why governments are turning to gold and how this is affecting the gold market globally.Tokenization of Gold and the Future of Blockchain (25:02)Peter outlines his involvement in tokenizing physical gold and the benefits it brings to the retail and institutional markets. We explore how blockchain is disrupting traditional gold storage and trading, creating 24/7 access with lower fees.The Gold vs. Bitcoin Debate (32:29)In a world where both gold and Bitcoin are being digitized, Peter shares his thoughts on how they can complement each other and why gold remains the more stable choice for wealth preservation.Gold in the Future of Investment (35:01)What’s next for the precious metals market as governments try to navigate their debt crises and central banks keep a close eye on gold? Peter discusses the future of gold in both physical and digital forms.About Peter GrosskopfPeter Grosskopf is a renowned leader in the precious metals space, having served as the CEO of Sprott, where he played a pivotal role in scaling the firm’s assets under management from $5 billion to over $20 billion. He is also the Co-Founder of Argo Digital Gold, a platform at the forefront of tokenizing physical gold. With extensive experience in both the resource banking and asset management sectors, Peter has advised family offices and institutional clients on real asset strategies. As a director of Agnico Eagle Mines and the World Gold Council, he brings deep insight into gold’s macroeconomic role and its function as a defensive hedge in volatile times.Visit the Argo Digital Gold website: https://www.argovault.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

In this episode of Tank Talks, Matt Cohen and John Ruffolo rip through a stacked rundown of tech, venture capital, and geopolitical “sovereignty” theater. They open with Europe’s accelerating shift away from Microsoft Office and big U.S. platforms toward open-source alternatives, then jump straight into a breaking change from Y Combinator CEO Garry Tan: Canada is back on the list of accepted incorporations, reversing a move that sparked serious backlash about Canadian startup brain drain and U.S.-domicile pressure.From there, they dissect Elon Musk’s headline-grabbing SpaceX–xAI all-stock merger and why it looks way better for xAI holders than SpaceX shareholders ahead of a rumored SpaceX IPO window. The episode also digs into Canada’s national AI consultation (and the government openly using multiple LLM providers like Cohere and OpenAI to process submissions), the EU’s push for digital sovereignty (and the risks of swapping to “free” tools), and the brutal reality of AI-driven search gutting legacy media traffic, with the Washington Post laying off a third of its newsroom. The big throughline: information is cheap now, execution and trust are expensive, and countries (and companies) that don’t adapt are about to get cooked.Y Combinator Reverses Course: Canada Back on the List (00:43)YC CEO Garry Tan adds Canada back to YC’s list of accepted incorporation jurisdictions after removing it, triggering a wave of criticism. Matt and John break down what changed, why the original rationale (Canadian winners re-domiciling to the U.S.) was a flawed signal, and why the real issue is still Canadian capital formation and follow-on funding strength.SpaceX Buys xAI: A $1.25T Story Swap Before an IPO? (02:34)Matt tees up the shocker: SpaceX acquires xAI in an all-stock deal valuing xAI at $250B and SpaceX at $1T, creating a combined $1.25T entity. They discuss xAI’s massive burn versus SpaceX’s improving cash profile (driven by Starlink) and why this kind of move raises eyebrows heading into an IPO narrative.Second-Order Effects: When a Cash-Burning AI Company Merges Into Space Infrastructure (07:35)They debate whether this becomes a template for other pre-IPO restructures or stays a one-off “Elon special.” John says a Starlink-style consolidation would make strategic sense; folding in xAI doesn’t feel like a choke-point win.Canada’s AI Strategy Consultation: Government Using LLMs in the Workflow (09:10)Canada’s ISED publishes a high-level summary of its AI consultation and explicitly notes using multiple LLMs and pipelines (including Cohere and OpenAI) to process massive public input. Matt frames this as a meaningful “government actually doing something” moment, even if the public is still anxious about jobs and privacy.Europe’s Digital Sovereignty Push: Dropping Teams/Zoom for Open Source? (12:40)They react to reports of governments moving away from Teams/Zoom and Microsoft tooling in the name of sovereignty. Matt calls the open-source swap risky from a security and operational standpoint; John says the bigger signal is global: sovereignty is now a first-order priority, and Canada can’t pretend this wave isn’t coming.Washington Post Layoffs: AI Search Is Eating the Referral Economy (16:48)Matt highlights the Washington Post’s reported search traffic collapse and layoffs impacting a third of the newsroom. John calls journalism an obvious early disruption target: LLMs compress content production costs, and the old newsroom pyramid doesn’t match the new economics.The Survival Play: Media Becomes a Live Events Business (19:26)They land on the counter-move: stop fighting the trend and monetize what still works: brand, access, community, and in-person experiences. If content becomes commoditized, relationships and trust become the product.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com