Is the Saylor playbook cracking? Bitcoin's biggest buyer just became a seller

On this episode of CoinDesk's Public Keys at the New York Stock Exchange, Jennifer Sanasie is joined by Two Prime Founder and CEO Alex Blume to discuss Bitcoin's range-bound price action, Strategy's accelerating Bitcoin sell-off, and why he's skeptical of the stablecoin consortium behind OpenUSD that knocked Circle lower.

In a taped interview from the NYSE floor, Securitize CEO Carlos Domingo breaks down the company's NYSE debut under the ticker SECZ via a SPAC deal, its more than $400 million raise, and its move to tokenize its own common stock on the Solana and Avalanche blockchains.

Plus, Lumida CEO Ram Ahluwalia makes sense of the macro picture — from MicroStrategy's shift from Bitcoin's marginal buyer to marginal seller and the bull case for Hyperliquid, to why he sees non-farm payrolls as "noise" under new Fed Chair Kevin Warsh.

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Timecodes:

00:00 Welcome to Public Keys

00:22 Two Prime Founder and CEO Alex Blume on Bitcoin's Range

01:26 Strategy Sells 3,588 Bitcoin to Fund Dividends

03:53 How Bitcoin Breaks From the Strategy Narrative

05:46 Circle Drops 15% on OpenUSD Consortium News

09:13 Securitize (SECZ) Goes Public on the NYSE via SPAC

10:56 Why Securitize Chose a SPAC Over an IPO

12:10 Securitize Tokenizes Its Own Stock on Solana and Avalanche

13:33 Bitcoin, Ether and Hyperliquid ETF Flows

14:37 Lumida CEO Ram Ahluwalia on MicroStrategy's Shift to Selling

16:53 The Bull Case for Hyperliquid

17:37 Non-Consensus Picks: Quality Stocks and ICE

19:09 Why Non-Farm Payrolls Are 'Noise'

20:37 Fed Chair Kevin Warsh Won't Hike or Cut

21:44 Can AI Beat the Market?

23:41 Fear & Greed Index at 24