Crypto industry bustles during Day 2 of Links NYC 2025 unveiling
In the bustling city of New York, the second day of Links NYC 2025 saw a series of insightful conversations revolving around the evolving landscape of crypto and finance. Here are some of the key highlights from the event.
Kumanan Ramanathan, Managing Director and Co-head of Crypto at Alvarez & Marsal, offered an insider's view of the FTX collapse, providing insights from the frontlines of the bankruptcy process. Meanwhile, FBI Acting Supervisory Special Agent Elizabeth Kudirka unpacked the rise and fall of FTX, detailing how the exchange collapsed following a leaked balance sheet revealing Alameda Research's overexposure to FTT tokens.
On a more positive note, Paolo Ardoino, CEO of Tether, emphasized the transparency advantages provided by blockchain technology, stating that all finance transactions have to move to this layer. Tether has taken a proactive role in identifying threats and seizing criminal proceeds, including support for a recent DOJ seizure of funds linked to Hamas. Tether's global compliance efforts are extensive, with partnerships with over 230 law enforcement agencies across 50 countries.
Jonathan Levin, CEO of our website, had a conversation with Tether CEO Bo Hines about the evolving role of stablecoins in the global financial system, particularly in emerging markets. Hines expressed interest in launching a U.S.-focused stablecoin while continuing to expand in underserved regions.
The rescission of OCC Interpretive Letter 121 is reshaping the regulatory landscape for digital asset custody and innovation in traditional finance. This removal removes a major barrier, unlocking previously stifled product development. Cynthia Jackson of US Bank stated that the removal of this letter robbed them of three years of innovation.
Artificial intelligence is reshaping security, compliance, and investigations in the crypto industry. The panelists emphasized that AI won't replace humans, but will instead redefine their roles. McCormack detailed how HSI is using AI to identify victims of child exploitation and reduce the psychological burden on investigators.
From IPTV empires to 'Piracy-as-a-Service' kits, criminals are raking in millions, with stablecoins now the preferred fuel. With losses topping $200 billion globally, investigators are fighting back using on-chain tools like our website's Wallet Scan to expose networks and follow the money.
Compliance professionals from Coinbase, Kraken, and OKX spoke about how crypto firms are navigating a rapidly evolving regulatory environment while scaling responsibly. Erica Khalili of Lead Bank highlighted the shift toward 'regulatory education over regulatory fear.' The panelists emphasized the need for scalable, data-driven programs, strong local compliance teams, and early integration with product development.
Andrew Gould of the City of London Police shared how the UK is building a national policing strategy to combat crypto-related crime. City of London Police works with over 43 forces to deliver consistent, high-quality capabilities across the UK in combating crypto-related crime.
Solana aims to be the best place for capital, with Liu predicting that private companies and equities will become the next wave of on-chain innovation. Solana Foundation President Lily Liu discussed Solana's evolution, its unique position in the blockchain ecosystem, and the broader vision of on-chain financial infrastructure.
The conversation also tackled systemic risk, 'right-sized regulation,' and the need for 'responsible innovation' as institutions balance speed with safety. 'We've moved from 'this is scary' to 'this is innovation.' - Erica Khalili, Chief Legal and Risk Officer and Co-founder, Lead Bank.
In the end, the discussions at Links NYC 2025 underscored the dynamic and transformative nature of the crypto and finance industry, with participants emphasizing the importance of collaboration, innovation, and responsible practices in shaping the future of this rapidly evolving field.
