Sam Boyle, Senior Broker at Caleb & Brown, was recently a guest on Benzinga's All-Access. Caleb & Brown is a crypto investor's expert partner. As a premium broker, it provides personalized service for beginners and advanced investors alike and helps its clients navigate the sometimes turbulent waters of crypto to build wealth. Mr. Boyle spoke about the state of the market and what he sees coming in the future.
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00:00Welcome, Benzinga Nation.
00:03We love all types of trading.
00:05Doesn't matter if it's stocks, options, futures,
00:07and of course, crypto.
00:08And to talk to me today is gonna be Sam Boyle,
00:11who is a senior broker at Caleb and Brown.
00:13Sam, welcome to the show.
00:14Thank you, Zenaid.
00:15How are you doing?
00:16I'm doing great.
00:17I'm always excited when I get a chance
00:19to talk to someone about trading,
00:21and crypto trading is something
00:22that not a lot of people know about,
00:23so I'm excited to talk to you.
00:25Give us a quick brief overview of what is Caleb and Brown,
00:28and can you provide us a little bit of insight
00:30on what is it y'all do?
00:31Not a problem at all.
00:32I'd say the best way to describe Caleb and Brown
00:36is that we're a premium concierge service
00:39for the cryptocurrency industry.
00:41And much like what you'd see with the gold and silver brokers
00:44and commodity services,
00:46it's just a much more nascent and complex industry.
00:52And our goal over the years pretty much
00:54has been to provide people or industries
00:59and companies who wanted to invest in crypto,
01:03provide them with a service
01:06that obsesses over your customer experience.
01:09So whether you're buying, selling, or swapping,
01:11or setting target orders,
01:12or you're working with a broker
01:14to manage the next year or two ahead,
01:17there's always someone along the way,
01:19no matter what you're doing, who actually cares.
01:22Yeah.
01:23A lot of times people get things mixed up
01:25between a broker and like an exchange.
01:27So what is it that a broker can do
01:30that is different than say an exchange?
01:33Well, yeah, very good question.
01:34And with the way in which we operate over the years,
01:38we've tried to figure out, okay,
01:40because we have personally all in the crypto space ourselves
01:43prior to Caleb and Brown,
01:44we're all trading crypto and exchanges
01:46and trying to one, get into crypto without any issues,
01:50securely store it,
01:52and then be able to sell it without issue in the future.
01:55And along the way,
01:56we were able to uncover a lot of these different issues
01:59that exchanges have,
02:01whether it be the way in which they store crypto.
02:04You know, with us,
02:05if you send crypto to your account with Caleb and Brown,
02:09it's actually held in wallets
02:10separated from every other client.
02:11And it just sits there for as long as you need,
02:14more akin to gold or silver in a vault for you
02:17so that when it's time to sell,
02:20you're not going to be locked out of your account.
02:21There's no wait times.
02:23There's no maximums.
02:24There's no maximums on withdrawals or trading.
02:26So it's the way in which we have everything in the backend,
02:30we have built that in order to prevent
02:34a lot of these risks that you see with exchanges.
02:36And on top of that,
02:37because there's people along the way,
02:39you know, you're able to pick up the phone
02:41if you have any support tickets,
02:42you're able to pick up the phone
02:43if you want to discuss what's happening.
02:45You know, it's not just you in front of the screen
02:47tapping away, trying to figure out what's going on.
02:50So that's what I'd say is probably the biggest difference
02:52between us and an exchange.
02:54You bring up a good point about security,
02:55which I'll get to in a moment,
02:56but like, how did Caleb and Brown come about?
02:59Oh, wow.
03:00Good question.
03:01It was in 2016.
03:02It was actually a big group of us.
03:03We're all friends in the crypto space.
03:06And we started really deep diving into it
03:09while some of us are at university,
03:10some of us had other jobs
03:12and we got really passionate, interested about it.
03:15And then the people around us from friends and family
03:19started also getting very interested.
03:20And then we're like,
03:21hang on, we'll help everyone out
03:23with what to look out for,
03:25what to, how to store crypto and all of that.
03:27And then we start to figure out,
03:28hang on, we're actually leading it
03:30to a bit of a full service brokerage model here.
03:33So let's put like a,
03:36get a company register under it.
03:37Let's get a name to it.
03:38And let's actually work together on making this streamlined.
03:42And since then we've built the business
03:46based on that exact same notion.
03:49So I, working at Caleb Brown for the last five years now,
03:53I still, with my clients,
03:54treat them like friends and family.
03:56And then my dad's a client, my mom's a client.
04:00It's just, nothing changes between,
04:03whether it's your friends or family
04:04or your people in this world that you want to help out.
04:07So that's pretty much how we've come about.
04:11Well, with your friends and family involved
04:13with some of the risk aspects that comes to crypto,
04:16when it comes to trading, no matter what industry it is,
04:18how secure is Caleb and Brown?
04:21Good question.
04:22And this is something that's very, very important
04:23because you get into the space
04:24in order to have sovereignty of your own wealth
04:27and have full control of the assets you hold.
04:31And then you get to a stage where,
04:33FTX or Celsius issue happens
04:35and it's like, you have to wait a year and a half
04:37or you don't wait at all.
04:38You've lost all your crypto.
04:39So we've put a lot of effort and capital
04:42into making sure we've got wallets
04:45separated from every other client.
04:47They're in wallets that actually have,
04:49through Fireblocks, multi-party computation.
04:52So multiple parties have to sign off with Face ID
04:55to actually confirm any movements of crypto.
04:58And on top of that,
04:59clients have been storing with us since 2016,
05:01the whole way through without issue.
05:03And we've pretty much looked at every possible aspect
05:08of storage that can go wrong.
05:09So having cold storage facilities as well
05:11to prevent hacks from third parties.
05:14But we have that option for clients.
05:15Your clients can,
05:16we can withdraw it to clients without issue
05:18and we can help them with their own storage also.
05:21What type of things are people concerned about
05:24in the crypto space?
05:26Oh, wow.
05:27I'd say, well, this year compared to last year,
05:30things have changed.
05:31But one thing that stays constant over the years
05:34is security, how the world and governments
05:37and regulation is operating,
05:38which we have to stay very much on top of.
05:41And that's what we're doing with clients.
05:43We have questions come in every day,
05:45a whole range, probably on a weekly basis,
05:47a hundred different types of questions.
05:49But what's most common is,
05:52is like my personal assets,
05:55are my personal assets and my personal storage safe, secure?
05:58And do I have assurance that when I want to sell
06:01and buy property or buy gold or buy silver,
06:03or like get into the bank account,
06:06do I have assurance that I can do that without issue,
06:08without being locked out?
06:09And that's, we know that that is what everyone
06:12in the space is concerned about.
06:13So that's what we want to ensure as well.
06:16And then you also have like prediction markets
06:17where that's something else
06:18where you gotta make sure things are nice and secure.
06:21Last question for me,
06:22how are you kind of seeing the market in the year ahead,
06:25especially with the election cycle, 2025?
06:27Like, what are your thoughts?
06:28Well, in the short term,
06:30I know everyone's watching elections over in the US,
06:32the world is watching it like a hawk
06:34because they pretty much set the stage
06:35for the rest of the world in every industry.
06:38And what I noticed recently,
06:41gold's at an all time high recently
06:43showing that we've got a lot of people
06:45moving out of risk assets
06:47and being a little bit hesitant in the world markets
06:49and moving into nice safe haven assets.
06:52So things are a bit rocky,
06:54but we've got rate cuts potentially next month,
06:57which could be a little bit short term bullish.
07:00But what we know for certain is that this,
07:03I can't necessarily say for certain,
07:04but this growth phase is gonna come about eventually.
07:08We've had an extended bear market.
07:09We're gonna see the Bitcoin and Ethereum ETFs,
07:11hopefully, well, the Bitcoin ETFs is completely launched
07:15and there's a lot of capital that's been piled into that.
07:17We're gonna probably see a repeat into Ethereum
07:19and then that creates a direct correlation with altcoins
07:23and specifically, you know,
07:25ETH-based altcoins as well to start with.
07:27And then that all trickles into other altcoins.
07:30Then you get this parabolic bull market again.
07:31And we hope to see this,
07:34hopefully this year trickling into next year.
07:36And, but the good thing is we stay in tune with it all.
07:39So if you're a client with us,
07:40you know, call us all the time.
07:42I'm here to work with you
07:43and we can discuss all of this without issue.
07:46I love it.
07:47And yeah, you know, you also have Solana ETF possibly
07:49that might come down the road,
07:50who knows and other conversations about it.
07:52So plenty more things ahead for the crypto space as well.
07:55Sam, thank you so much for your time.
07:56I really appreciate it.
07:57Thank you very much, Zenaid.
07:59You got it.
08:00I'm Dan Boyle, who is a Senior Broker at Caleb & Brown.