INTERVIEW: Wall Street’s Crypto Golden Era? | Charles Schwab’s Director of Digital Currencies Research & Strategy, Jim Ferraioli Crypto natives are giving up just as Wall Street is leaning in? @SchwabResearch's Jim Ferraioli joins @TrustlessState to explain why crypto may be living through its dot-com bust, what bitcoin:native actually is in a portfolio, why ethereum:native may already be a real economy, and where the next phase of institutional adoption could come from. [TIMESTAMPS] 0:00 Intro 3:15 Who Schwab Clients Are 5:42 First-Cycle Bitcoin Pain 8:45 Bitcoin Isn’t Digital Gold 15:46 Retail Gives Way to Institutions 20:27 ETF Flows and Allocations 22:59 Saylor, Strategy, and Bitcoin 28:23 Crypto’s Quiet Recession 36:38 Ether as Liquid VC 43:15 How ETH Price Rises 48:13 Perps, Hyperliquid, and Defense 54:05 Reading Crypto Signal