The Future of Digital Assets | Regulation, Value Accrual, and Token Design
Gm! In today’s round up we are joined by Noah Goldberg of Theia Capital to discuss new SEC guidance distinguishing digital commodities and securities, implications for token design and valuation, and evolving regulatory clarity. We also discuss token versus equity models, KYC tradeoffs, global market access, and whether the industry will shift toward tokenized equity or maintain diverse structures.
Enjoy!
--
Follow Lightspeed: https://x.com/Lightspeedpodhq
Follow Noah: https://x.com/TraderNoah
Follow Carlos: https://x.com/0xcarlosg
Follow Danny: https://x.com/defi_kay_
Join the Lightspeed Telegram: https://t.me/+QHlbNTNS4gc1ZTVh
--
Join us at DAS (Digital Asset Summit) in New York City this March! Use the link below to learn more, and use code LIGHTSPEED200 to get $200 off your ticket! See you there!
Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-nyc-2026
--
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Timestamps:
(0:00) Introduction
(2:00) SEC Framework
(6:35) Market Impact & Value Accrual
(13:47) Token Design & Tradeoffs
(18:25) Onchain Securities & Regulation
(23:50) Market Structure: Public vs. Private
(28:54) Early Tokenization
(37:28) Global Access & KYC
(48:42) Token Models & Endgame
(1:08:21) Closing Comments
--
Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation.
Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Danny, and our guests may hold positions in the companies, funds, or projects discussed.
The Future of Digital Assets | Regulation, Value Accrual, and Token Design
Subscribe & Listen
Harmonic Fires Back in Solana’s Block Building Wars | Ben Coverston
Making Privacy the Default | Kru & Cal
More from Lightspeed
From Memecoins to Markets: Solana’s Next Trade
Gm! In today’s episode we cover prediction market activity around major sporting events, growing interest in tokenized equities following recent IPOs, the role of platforms like Backpack in bringing stocks onchain, liquidity and market structure challenges, the relationship between tokens and equity, evolving governance models, DeFi use cases for tokenized assets, and the rise of institutional-focused trading infrastructure on Solana. Enjoy! -- Follow Lightspeed: https://x.com/Lightspeedpodhq Follow Toma: https://x.com/toma_adv Follow Joe: https://x.com/j0e_cooks Follow Sam: https://x.com/minnus Follow Carlos: https://x.com/0xcarlosg Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (3:22) Prediction Markets Chase Sports (7:04) IPOs Push Stocks Onchain (15:10) Liquidity Fragmentation Risks (25:28) Backpack Token Meets Equity (32:29) Do Tokens Still Matter? (37:03) Tokens And Equity Converge (46:40) Equity Collateral In DeFi (47:51) Solana Trading Frontends Rise (56:17) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Danny, and our guests may hold positions in the companies, funds, or projects discussed.
Flash Trade Is Reinventing Perps on Solana | Anas Khader
Gm! In this episode, we’re joined by Anas Khader, Founder of Flash Trade, to discuss the protocol’s journey from building alongside Mango Markets to launching a Solana-native perpetuals exchange. We cover Flash Trade’s pool-to-peer liquidity model, expansion into equities, commodities, and forex perps, its new Magic Block-powered execution engine, security and oracle design, the future of 24/7 markets, and how Solana’s evolving infrastructure is shaping the next generation of onchain trading. Enjoy! -- Follow Lightspeed: https://x.com/Lightspeedpodhq Follow Flash Trade: https://x.com/FlashTrade Follow Anas: https://x.com/allinbitcoin_ Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:18) Flash Trade Origin Story (6:23) Pool-To-Peer Perps (11:22) New Asset Markets (16:46) Magic Block Design (26:08) Competing In Perps (32:08) Oracle And Security Risks (39:15) Next Perps Frontier (42:49) Solana's Growth Path (48:04) Solana UX Improvements (51:07) Try Flash V2 (52:13) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Danny, and our guests may hold positions in the companies, funds, or projects discussed.
Blockworks Acquires Messari
In this special episode, Blockworks announces its acquisition of Messari and unpacks what it means for crypto’s next phase. Michael and Jason explore why Messari’s breadth of data, APIs, and research complement Blockworks’ deep on-chain analytics, investor relations, and disclosure products. They also address crypto’s trust problem, the need for standardized data and disclosures, and how Blockworks aims to become the trusted data layer connecting issuers, investors, exchanges, regulators, and AI agents in on-chain markets. Learn more: https://blockworks.com/insights/blockworks-acquires-messari Follow Blockworks on X: https://x.com/Blockworks Follow Messari on X: https://x.com/MessariCrypto Follow Michael on X: https://x.com/MikeIppolito_ Follow Jason on X: https://x.com/JasonYanowitz