The co-founder of Tether, Miami’s former mayor, a Galaxy portfolio manager, and Dubai’s top business development officer break down the digital asset revolution — where it started, why it’s down, and where it’s going.
Reeve Collins explains how Tether “formatted the dollar for the blockchain” and reveals Stablecoin 2.0. Mayor Francis Suarez compares the Biden and Trump crypto approaches (“a tale of two cities”). Joe Armao from Galaxy explains why price and infrastructure are finally decoupling — a massively bullish signal. And Salmaan Jaffery pitches Dubai: 0% corporate tax, 9,500 ultra-high-net-worth individuals per year, and crypto rules that are 4+ years old.
Plus: Why AI agents need crypto rails, why gold is outperforming Bitcoin (hint: it’s generational), and why the next Blackrock-sized fund might originate from Dubai.
SPEAKERS:
- Reeve Collins — Co-Founder & Chairman, STBL; Co-Founder, Tether
- Joe Armao — Senior Portfolio Manager, Galaxy
- Salmaan Jaffery — Chief Business Development Officer, DIFC
- Francis X. Suarez — 43rd Mayor of Miami & Of Counsel, Quinn Emanuel
- Owen Lau, CFA — MD Equity Research, Clear Street (Moderator)
KEY TOPICS:
- Tether origin story and the democratization of the dollar
- Biden vs Trump on crypto: “A tale of two cities”
- The Genius Act and regulatory clarity
- Bear market drivers: Global monetary policy + AI angst
- Dubai/DIFC: 0% corporate tax under $750M revenue
- Price vs infrastructure decoupling — bullish signal
- Stablecoin 2.0: RWA collateral + yield separation
- AI agents need 24/7 crypto rails
- Gold vs Bitcoin: A generational divide
TIMESTAMPS:
0:00 Introduction — The digital asset revolution
1:27 Reeve Collins on co-founding Tether 12 years ago
2:44 “We formatted the dollar so it could work on a blockchain”
3:39 Stablecoins have been proven — now institutions are ready
4:40 Biden vs Trump on crypto
5:06 “A tale of two cities” — regulation by enforcement
5:57 David Sachs and the Genius Act
6:11 “Nobody wants to get a letter from the SEC or the FBI”
7:38 “When you overregulate, you’re saying you’re not smart enough”
8:30 Bear market drivers: What happened since October 10th
9:28 The “four year cycle” and self-fulfilling prophecy
10:04 Global monetary policy: Great → Good environment
10:55 AI angst rippling through markets
11:34 Dubai’s pitch to founders and investors
12:22 DIFC: 52,000 people, 8,000 companies, 500+ asset managers
13:34 Under $750M revenue = 0% corporate tax in DIFC
14:35 “Creating wealth is not viewed as a negative thing”
15:07 Multipolar world: Miami, Dubai, Singapore
16:46 Miami stats: $13T AUM, 2200% crypto investment increase
17:11 Bear market impact on stablecoin/RWA adoption
17:40 “Price and infrastructure are decoupling” — bullish signal
18:43 Capital flowing from Bitcoin mining to AI compute
20:02 “Bear market = flight to safety, real investment”
20:24 “Just because there are fewer Ferraris, don’t stop building roads”
21:05 “An AI agent won’t wait for Monday morning for a bank to open”
21:42 Gold vs Bitcoin — “I don’t fully get it… it’s generational”
22:50 Mayor Suarez: “I’m still 100% up on my Bitcoin salary”
23:12 Stablecoin 2.0: RWA collateral + yield separation
25:43 “The promise of blockchain is that those who put money in should reap rewards”
26:23 Predictions: 10x-100x-1000x asset explosion on-chain
27:08 “Maybe the next Blackrock-sized fund originates from Dubai”
Recorded live at Global Alts Miami 2026
