Kara Calvert on US Crypto Policy, BTC Price Action, and Onchain Trends

In this episode, we kick off with an exclusive interview featuring Coinbase’s Head of US Policy Kara Calvert about how the upcoming election could reshape the crypto regulatory landscape. Don’t miss her outlook on the future of crypto policy under different political scenarios.

Our expert panel also breaks down bitcoin’s latest price movements, US spot ETF inflows, and the shifting dynamics between ETH and SOL. David Duong walks us through a busy earnings season, focusing on major market movers like Apple, Google and Microsoft, while highlighting key macro drivers. David Han wraps up the episode with an analysis of the rising traction in Solana and Base DEX volumes.

**Special Interview with Kara Calvert:**

- How crypto regulation might unfold under Trump vs Harris.
- The possibility of leadership changes at different executive agencies.
- The shape of crypto policy over the next two years.

**Market Update with Joshua Pak:**
- CME open interest trends, spot bitcoin ETF inflows, and trading desk flows.
- Unlock updates and the divergence between ETH and SOL.
- Onchain revenue trends and correlations to BTC.

**Macro Insights with David Duong:**
- Earnings updates: Apple, Microsoft, Amazon, Google, and Meta—impacting nearly a quarter of the S&P 500.
- Key economic indicators: Non-farm payrolls and JOLTs report insights.

**Onchain Section with David Han:**
- Blobs developments & Pectra upgrade
- Traction update on Farcaster.
- Solana DEX volumes up +19% WoW and Base DEX growth at +15% WoW.

**Host:**
Ben Floyd, Head of Execution Services

**Panelists:**
David Duong, Head of Institutional Research
David Han, Research Analyst
Joshua Pak, CES Sales Trader

Links:

• Stand with Crypto
• Q4 Guide to Crypto Markets
• Coinbase Research