# Episode #161: DATCOs and Bitcoin Liquidity with David Lawant and Josh Barkhordar

Page: https://stenobird.com/podcast/brazil-crypto-report-5342676/episode-161-datcos-and-bitcoin-liquidity-with-david-lawant-and-josh-barkhordar
Text version: https://stenobird.com/podcast/brazil-crypto-report-5342676/episode-161-datcos-and-bitcoin-liquidity-with-david-lawant-and-josh-barkhordar.md
Podcast: [Brazil Crypto Report](https://stenobird.com/podcast/brazil-crypto-report-5342676)
Published: 2025-08-14T22:40:44+00:00
Episode link: https://brazilcrypto.substack.com/p/episode-161-datcos-and-bitcoin-liquidity
Audio file: https://api.substack.com/feed/podcast/170997001/302594b355e635f42a34edb93dbed1fd.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/brazil-crypto-report-5342676/episodes/episode-161-datcos-and-bitcoin-liquidity-with-david-lawant-and-josh-barkhordar
Duration seconds: 2528

## Resource

🙌 You can listen to BCR on your favorite podcast platform YouTube | Spotify | Apple Podcasts 🔥 Join the BCR English language Telegram group to continue the conversation Olá pessoal! Today’s episode is with David Lawant and Josh Barkhordar, Head of Research and Head of Sales, respectively, at FalconX - one of crypto’s premier institutional prime brokerage firms. FalconX's recently launched services in Brazil via partnerships with BTG Pactual and Mercado Bitcoin , and it plans on being a relevant player in the market moving ahead. The prime broker now offers its comprehensive suite of services including spot trading, derivatives, custody, FX trading, and credit facilities to Brazilian institutions. What makes Brazil particularly attractive isn't just its massive retail crypto market, but its surprisingly advanced institutional infrastructure. As David noted, Brazilian banks like BTG have been engaged with crypto for years, offering their own exchange and custody services - a level of institutional penetration that in some ways exceeds what we see in traditional U.S. financial institutions. We expand the conversation to cover crypto trends in 2025, principally the explosion of Digital Asset Treasury Companies (DATCOs) . Unlike the previous cycle's limited and over-used GBTC trade, these new vehicles offer enhanced exposure through sophisticated strategies including covered call-writing, bitcoin-backed lending, and leveraged acquisition programs. David and Josh explain how regulatory uncertainty diminishing under the current administration has opened the floodgates for hundreds of these companies to emerge. Perhaps most significantly, the Trump administration's crypto-friendly policies are creating unprecedented opportunities in the US and abroad . The recent decision to a…

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/brazil-crypto-report-5342676/episodes/episode-161-datcos-and-bitcoin-liquidity-with-david-lawant-and-josh-barkhordar/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/brazil-crypto-report-5342676/episode-161-datcos-and-bitcoin-liquidity-with-david-lawant-and-josh-barkhordar.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.