Crypto In America 2025 Market Gains Gone? Recap of Ripple Swell & SmartCon
Nov 7, 2025
Ben Jones, co-founder of Optimism, dives into Ethereum layer‑2 scaling and the critical role of infrastructure in user adoption. He discusses the concept of a superchain and warns against overemphasizing tech jargon that alienates users. Lee Schneider, General Counsel at Ava Labs, shares insights on token classification and market structure legislation, advocating for clarity to differentiate protocol tokens from securities. Both guests highlight the need for regulatory alignment to foster a robust U.S. crypto market while addressing current volatility.
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Don't Build Infrastructure Without Unlocks
- Overemphasizing infrastructure without clear product unlocks risks wasted investment and stalled adoption.
- Ben warns past enterprise blockchain cycles failed when infrastructure changes lacked downstream value.
Stablecoins Are Decoupling From Speculation
- Stablecoins now show a meaningful decorrelation from crypto spot trading, signaling real-world utility.
- Ben sees cross-border payments and other non-speculative uses as evidence of stablecoin value beyond trading.
Sell Block Space, Not Blockchain Jargon
- Explain 'block space' simply when engaging institutions; they care about usable capacity, not L1/L2 technicalities.
- Ben recommends providing flexible block space that meets institutional requirements rather than jargon-heavy pitches.