Lucas Moskowitz, General Counsel at Robinhood returns to the show to talk tokenization of Real World Assets and the current state of crypto legislation.

Lucas updates us on Robinhood's evolving demographics, noting that while the platform remains a hub for first-time investors, the customer base is maturing alongside the platform's product offerings, such as retirement matching and advisory services. Moskowitz also highlights the company's commitment to financial literacy.

The core of the conversation shifts to the shifting regulatory landscape regarding cryptocurrency and the potential for legislative clarity under a new administration. Moskowitz breaks down the concept of Tokenization of Real World Assets (RWA), explaining how blockchain technology can democratize access to private markets, art, and real estate.

The discussion covers the technical and legal differences between "native" tokens and "wrapper" products, the benefits of 24/7 liquidity, and why the United States risks falling behind global jurisdictions like the EU and Asia if regulatory frameworks do not evolve.

• Robinhood's Evolution: The platform now serves 26 million customers. While half are first-time investors, the company is expanding into advisory and retirement products to serve users throughout their financial lifecycles.

• Crypto Regulation: There is a shift from "regulation by enforcement" toward legislative clarity. Moskowitz discusses the importance of comprehensive market structure bills and stablecoin legislation to provide long-term durability for the industry.

• Tokenization Mechanics: Tokenization is the digital representation of a real-world asset on a blockchain. This innovation promises to increase liquidity, allow for fractional ownership of high-value assets (like private equity or art), and enable faster settlement times.

• The "Wrapper" Concept: Moskowitz explains Robinhood's EU offering, where customers trade a tokenized "wrapper" that represents a share of US stock held in custody, distinguishing this from companies issuing native tokens directly on the blockchain.

• Why Lawyers Should Care: Even those outside of securities law must pay attention to tokenization, as it is poised to impact the documentation and transfer of all real-world assets, including real estate deeds and commercial contracts.

• Robinhood RWA Policy Paper: Read the policy papers mentioned in the episode regarding Tokenization.

Editing and Production: Grant Blackstock

Theme Music: Home Base (Instrumental Version) by TA2MI

In this episode, James Barclay, CEO of Passle, discusses how legal technology is evolving to solve a big challenge in the legal industry: cross-selling. James shares the journey of Passle—from its roots in the early internet gold rush to becoming a leading thought leadership platform for the Am Law 200.

The conversation covers Passle's new AI-driven tool, CrossPitch, which helps attorneys overcome the "trust and awareness" barriers that prevent internal collaboration and revenue.

James explains that while content marketing is essential for lawyers to showcase expertise, the real value lies in how that expertise is shared internally within a law firm. Research suggests that firms leave at least 10% of their revenue on the table due to ineffective cross-selling. To address this, Passle developed CrossPitch, an AI tool that analyzes attorney bios and firm-wide thought leadership to automate internal networking.

Key Takeaways:

• The Problem of Silos: Large firms often suffer from a lack of awareness; attorneys in different offices or practice groups are often unaware of their colleagues' specific expertise.

• AI-Powered Matching: Cross Pitch reads a firm's thought leadership and matches it with the bios of attorneys whose clients would benefit from that specific knowledge.

• Data Visualization: The platform provides a "Cross-Selling Intelligence Map" to help managing partners visualize collaboration and identify "dark spots" where practice groups are not engaging.

Editing and Production: Grant Blackstock

Theme Music: Home Base (Instrumental Version) by TA2MI

One of the most listened to episodes in 2025 featured a conversation with Andrea Muttoni, President of Story Protocol. The discussion explores how blockchain technology is being used as a foundational infrastructure for intellectual property (IP), aiming to simplify and modernize the process of registration, licensing, and monetization for creators and IP owners. Muttoni details his journey from a bedroom music producer to a product manager at Amazon and eventually to a leader in the blockchain industry, driven by a passion for the intersection of technology and creativity.

The conversation delves into the core problems Story Protocol aims to solve, particularly the complexities of copyright, fair use, and attribution in the age of AI-generated content. Muttoni introduces key concepts like the Programmable IP License (PIL), a customizable and on-chain license that makes IP rights more transparent and accessible. He also provides an overview of Poseidon, a new initiative that leverages the Story Protocol to create a marketplace for IP-safe, real-world data needed to train AI models, ensuring that data creators and owners are fairly compensated.

• Andrea's Background: From a bedroom hip-hop producer to a product manager at Amazon working on Kindle and Alexa, Muttoni shares his path to the world of crypto and blockchain.

• What is Story Protocol?: A deep dive into Story Protocol's mission to create an open IP blockchain. It's a way to register, license, and monetize IP in a more liquid and accessible way.

• The Programmable IP License (PIL): Explanation of how this universal, customizable, and on-chain license simplifies IP transactions and makes it easier for others to legally use a creator's work.

• Introducing Poseidon: Details on the new platform built on the Story Protocol to address the "data gold rush" for AI. Poseidon allows for the licensing of real-world, IP-cleared data to AI companies, ensuring fair compensation for contributors.

• Promoting Adoption: Discussion on how Story Protocol uses a web3 incentive model to encourage widespread adoption and create a network effect for its IP infrastructure.

• Why Story Protocol?: Muttoni explains what makes their platform uniquely suited for IP rights compared to other blockchains, emphasizing that the network was built from the ground up specifically for this use case.

• Story Protocol: story.foundation

• Story Protocol IP Portal: portal.story.foundation

• Poseidon: psdn.ai

• Story Protocol Developer Docs: docs.story.foundation

• WIPO Report: A report on intangible assets, mentioned as a key indicator of the value of intellectual property.