Navigating Frontier Tech – Episode 21 | MicroStrategy’s $700m Raise

In this episode

of "yWeb3 Navigating Frontier Tech," host Jay Steinback is joined by guests Nassim Eddequiouaq and Riyaz Faizullabhoy, Co-Founders of Bastion. Together, they delve into MicroStrategy's $700m raise, the dynamic world of Web3, dissecting recent market events and exploring blockchain's transformative power in finance. Throughout the episode, they navigate the challenges of open source, discuss Meta's wallet, scrutinize the complex landscape of BTC ETFs, and unravel the intricacies of Binance's decision to halt Nigerian naira transactions.

Tune in for captivating clips on blockchain transparency in finance, the SEC's delay in BlackRock's ether ETF proposal, and a glimpse into the future of Web3. Join us as we unlock the secrets of Bastion's roadmap, providing you with valuable insights into the ever-expanding Web3 universe. This is "yWeb3 Navigating Frontier Tech" - your compass in the fast-evolving world of Web3 and emerging technologies.

About Guests:

Nassim Eddequiouaq, co-founder of Bastion, brings a wealth of experience in developing cutting-edge technology solutions for the web3 landscape. With a career spanning over seven years, Nassim has established himself as a visionary leader in the field.

Nassim's journey began at Docker, where he played a pivotal role in shaping the company's platform into a preferred choice among developers for launching secure and reliable applications efficiently. His expertise in accelerating time-to-launch and ensuring application consistency laid the foundation for his subsequent ventures.

Transitioning to Anchorage Digital as a founding engineer, Nassim collaborated closely with Riyaz Faizullabhoy to pioneer the development of hardware-backed private key storage solutions. This groundbreaking work laid the groundwork for the emergence of the first federally chartered crypto bank, showcasing Nassim's prowess in building robust infrastructure for the evolving crypto landscape.

Nassim's tenure at Meta's cryptocurrency wallet, Novi, further solidified his reputation as a trailblazer in the industry. His contributions to designing and implementing wallet infrastructure and custody mechanisms underscored his commitment to advancing secure and user-friendly solutions in the cryptocurrency space.

As the former CISO of a16z crypto at Andreessen Horowitz, Nassim spearheaded innovative initiatives at the intersection of technology and finance. His leadership played a pivotal role in shaping Bastion's vision and securing a $25 million seed funding round, with significant backing from a16z Crypto. Nassim's dedication to building secure custodial wallet infrastructure aligns seamlessly with Bastion's mission to empower businesses with intuitive web3 products.

Riyaz Faizullabhoy, co-founder of Bastion, is a seasoned technologist renowned for his expertise in developing scalable solutions for the web3 ecosystem. With over seven years of experience collaborating closely with Nassim Eddequiouaq, Riyaz has forged a reputation as a formidable force in the industry.

Riyaz's journey commenced at Docker, where his contributions were instrumental in establishing the platform as a go-to choice for developers seeking streamlined application deployment. His focus on cost-effective transaction routing and actionable user insights laid the groundwork for his subsequent ventures in the crypto space.

At Anchorage Digital, Riyaz partnered with Nassim to pioneer the development of hardware-backed private key storage solutions, laying the foundation for the emergence of the first federally chartered crypto bank. His expertise in building robust infrastructure for secure transactions showcased his commitment to driving innovation in the evolving crypto landscape.

Riyaz's tenure at Meta's cryptocurrency wallet, Novi, further solidified his status as a visionary leader in the field. His role in designing and implementing wallet infrastructure and custody mechanisms highlighted his dedication to enhancing security and usability in the cryptocurrency space.

As the former CTO of a16z crypto at Andreessen Horowitz, Riyaz played a pivotal role in shaping Bastion's strategic direction and securing a $25 million seed funding round, with substantial backing from a16z Crypto. His emphasis on the importance of secure custodial wallet infrastructure for NFTs and tokens underscores Bastion's commitment to addressing critical needs in the web3 space.

Guest Social Links:

Nassim’s LinkedIn: https://www.linkedin.com/in/nassedd/

Riyaz’ LinkedIn: https://www.linkedin.com/in/riyazdf/

Bastion’s Website: https://www.bastion.com/ 

Timestamps

00:26 Jay’s Intro 

01:25 Guests’ Intro 

06:54 New York Community Bank $NYCB stock trading halted after crashing 42% 

16:45 Binance to cease all Nigerian naira transactions by March 8 

23:28 On BTC ETFs: accessibility, custody and legality 

28:15 MicroStrategy Upsizes Convertible Debt Offering to $700M to Buy Even More Bitcoin 

36:05 Kremlin announces creation of blockchain-based payment system in BRICS 

42:47 SEC delays BlackRock ether ETF proposal again 

54:59 The future of Web3 

56:45 Bastion’s Roadmap 

Topic Overview: 

• SEC delays BlackRock ether ETF proposal again
• SEC claims Binance.US ‘unwilling’ to give info, requests court intervenes
• Coinbase asks court to reject SEC’s ‘empty chair’ securities judgment
• US Supreme Court case could change crypto industry regulation
• Virginia passes crypto-friendly bill to foster blockchain expansion
• Hong Kong's Markets Regulator Issues Warning Against Crypto Exchange BitForex
• Deutsche Boerse Starts Crypto Trading Platform for Institutional Clients
• UK regulations will allow stablecoins and CBDCs to coexist, says former BoE fintech lead
• Sam Altman’s Worldcoin ordered to stop collecting data in Spain
• Binance to cease all Nigerian naira transactions by March 8
• MicroStrategy Upsizes Convertible Debt Offering to $700M to Buy Even More Bitcoin
• New York Community Bank $NYCB stock trading halted after crashing 42%
• Kremlin announces creation of blockchain-based payment system in BRICS
• Crypto's Fear & Greed Index Hits 90+ for the first time since 2021
• Digital Asset Fund Flows Weekly Report
• Tether USD stablecoin circulating supply inches close to 100 billion
• Hut 8 closes Bitcoin mining site, citing surging energy costs
• India hosts 8M gov’t docs across 5 blockchains

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DISCLAIMER: yWhales is not affiliated with YPO. Support and production for today’s episode were done by Truth Work Media. Nothing in the podcast constitutes professional and/or financial advice, nor does any information on the podcast constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.