The following transcript is taken from season one, episode one of The Scoop, The Block's new podcast. Listen below and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback to [email protected] This transcript has been edited for clarity and length.
In this episode of The Scoop, Frank Chaparro and Ryan Todd interview Mike Bodson, CEO of DTCC. The Depository Trust & Clearing Corporation is a 5,000 person operation that touches every corner of Wall Street, handling 1.8 quadrillion dollars of trades every year, flipping the GDP every three days. DTCC also operates a custodial service, securing 54 trillion dollars worth of securities, mostly in electronic form. Mike discusses Wall Street's adoption of distributed ledger technology, cryptocurrency valuations, and how Superstorm Sandy almost wiped out 35 trillion dollars.