Rewriting the Rules: The SEC & CFTC on Crypto, IPOs & the Future of American Markets
3/11/20261 hr
(0:00) Jason and Chamath welcome SEC's Paul Atkins and CFTC's Michael Selig
(0:53) Atkins on how US markets have changed over his 40 year career
(3:04) Top priorities across both agencies: Fixing the IPO drought, crypto regulation, cutting unnecessary rules
(8:16) AI trading bots, autonomous hedge funds, and investing with leverage
(15:30) Ending the "Turf War" between the SEC and CFTC, super app vision
(19:15) Prediction markets, insider trading, gray area
(26:56) Trump advocates for changing quarterly earnings to bi-annual
(30:30) Changing the accreditation rules a priority for 2026
(34:56) HFT firms that dominate the futures markets, swap reporting
(40:36) VC fund formation
(46:18) US markets vs the world, crypto classification
(52:54) Biggest risks: Market manipulation, crypto scams, and the Gen Z gambling crisis
SEC Chair Paul Atkins:
CFTC Chair Michael Selig:
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Transcript preview
First 90 secondsJason Calacanis· Host0:00
All right, everybody. Welcome to the All-In Interview program. Today, we are delighted to have two of the most important individuals shaping capital markets over the next couple of years. SEC Chair Paul Atkins is with us, as well as CFTC Chair Michael Selig. Welcome to the All-In Interview show, gentlemen.
Chamath Palihapitiya· Host0:20
Glad to be here.
Paul Atkins· Guest0:21
Thank you very much. Great to be here. Yep.
Jason Calacanis· Host0:22
Also with me, my bestie, Chamath Palihapitiya, who is known to participate in capital markets. I think there's a great structure here for us to talk, many opportunities, and then guardrails and things that we should be concerned about in such a dynamic time. Chairman Atkins, this is your third tour of duty since the nineties. Things have changed dramatically, so maybe just to start us off here, and I know Chamath's got a lot of great questions ready to go. I'm just curious, in your time, let's say the last forty years or so, what has, uh, what have you noted here about capital markets and how they've changed, and what's important for us looking forward?
Paul Atkins· Guest1:03
Well, thanks. It's great to be here and, uh, see both of you all, uh, today. Well, so I started out as a young lawyer, uh, in New York City doing, uh, corporation finance work, you know, new offerings and that sort of thing in the mid-80s. And, uh, and it's-- and there, you know, to, to be a startup company and to, to build your products and do R&D and all that, uh, you had to go public, uh, in order to... So Apple and