The Defiant

Starknet says it is “actively considering becoming an L1” — leaving Ethereum to become what it calls the first fully quantum-resistant network, with 2027 as the target. StarkWare co-founder and CEO Eli Ben-Sasson joins Camila Russo to explain the plan.The announcement came as a post on X on Oct. 8, with no governance proposal attached. STRK ran from $0.05 to $0.12 in five days and has since given back most of it. In the same week, StarkWare shipped Shadow Accounts, a privacy primitive that gives users a separate address per app, and launched OffMarket, a service for trading on Polymarket without linking positions to a public wallet.We get into:— What becoming an L1 actually means for Starknet, and what replaces Ethereum’s settlement guarantees— Who approves the move, and when a proposal goes to governance— Why Ben-Sasson thinks the quantum threat is “much closer than we think”— Where he lands in the “bunker mode” fight between Justin Drake, Vitalik Buterin and Yehuda Lindell— Why StarkWare is demoing ML-DSA signatures when Buterin named lattices as the next risk— Shadow Accounts, OffMarket, and building privacy on a counterparty that can switch you off— Starknet’s revenue, emissions, and whether an L1 changes the economicsGuest: Eli Ben Sasson

The SEC just gave tokenized U.S. stocks a five-year path to trade on AMMs outside exchange registration rules. The largest tokenized stock platform in the market doesn't qualify.Days after the Senate declined to move ahead on the CLARITY Act, the SEC issued an exemption order for "tokenized securities venues." It sets conditions: permissioned pools, public blockchains, and tokens that carry the full rights of the underlying share. Synthetic and linked products are outside the sandbox.Camila Russo sits down with Peter Curley of Ondo Finance, whose offshore equity-linked notes hold about $1 billion in TVL but aren't eligible; Gabriel Otte of Dinari, whose broker-dealer-issued dShares fit the order almost exactly; and Rodrigo Seira of Cooley, who explains why the order is a proof of concept built to survive a legal fight with Citadel and others.Gabe calls synthetic stock tokens "indisputably worse" for investors and says he's never heard a good argument for permissionless securities. Peter says Ondo already has product-market fit and the SEC has left room for more models. So is the order a set of red lines, or a first draft?"There is no rule book here. We're literally trying to build the future."Guests: Peter Curley (Ondo Finance) | Gabriel Otte (Dinari) | Rodrigo Seira (Cooley) Topics: tokenized stocks, SEC exemption order, tokenized securities venues, AMMs, Ondo Global Markets, Dinari dShares, synthetic stocks, equity-linked notes, permissioned DeFi, CLARITY Act, Hester Peirce, Paul Atkins, RWA

Robinhood is surging on Arbitrum's stack, and today we're joined by ARB co-founder Steven Goldfeder to break down the boom.On this stream we discuss:Does the tokenization / meme craze have legs?Spiking Robinhood feesWhere's crypto's decentralization promise when Robinhood owns the sequencer?The landlord model and the ARB rallyWho's the next Robinhood?Guest: Steven Goldfeder, Co-Founder and CEO of Offchain LabsLike, subscribe, and hit the bell so you don't miss our next streams.