RECENT EPISODES
Tue 14 JulThe Final Bell Curve: What Does Crypto Look Like in 1 and 5 Years?In their final episode, the Bell Curve hosts close out the show with one-year and five-year forecasts for crypto, centering on where distribution and infrastructure value will concentrate. The near-term consensus points to Coinbase, Kraken, Binance, and Robinhood as dominant app-store-style platforms combining custody, brokerage, and exchange, with the DeFi mullet structure placing centralized front ends over decentralized rails as DEX volume rises relative to CEX.Tue 14 JulThe Final Bell Curve: What Does Crypto Look Like in 1 and 5 Years?In their final episode, the Bell Curve hosts map out where crypto is headed over one-year and five-year horizons, centering their near-term view on distribution as the dominant force, with Coinbase and Robinhood evolving into app stores for financial products that combine custody, brokerage, and exchange in ways traditional finance never has.Fri 3 JulWhy Crypto Changed Forever | RoundupThis roundup argues that crypto has permanently changed because two forces arrived simultaneously: the United States created regulated pathways into the space, and the market reached consensus that financial applications like yields, lending, trading, and payments are the use cases that actually work. Together these shifts ended the five-to-seven year window where regulatory ambiguity kept Fidelity and BlackRock out, giving startups room to build.Fri 3 JulWhy Crypto Changed Forever | RoundupIn this roundup episode, the hosts argue that crypto has undergone a structural shift, with the protocol now largely invisible inside mainstream company products rather than something users directly onboard to, and with blockspace having commoditized so thoroughly that Ethereum gas fees have fallen from roughly 50 dollars in 2021 to below one dollar.Fri 26 JunCrypto's SocialFi Moment, Fomo Raises $75M & The Rise of CollectablesThis episode examines two areas generating real crypto adoption outside the traditional crypto audience. On the collectibles side, tokenized trading card platforms like Collector Crypt are driving roughly $15 million in monthly volume, with pack opening mechanics and an 85 percent buyback guarantee separating them from prior NFT models, though token value accrual remains structurally difficult given heavy physical custody costs.Fri 26 JunCrypto's SocialFi Moment, Fomo Raises $75M & The Rise of CollectablesThis episode examines three converging trends in crypto: the rise of tokenized collectibles, the $75 million Series B raised by social trading app FOMO, and what both signal about where the industry is heading. Collector Crypt has recorded roughly $15 million in volume over the past 30 days through a pack opening mechanic that mirrors FIFA Ultimate Team, with an 85 percent buyback floor driving repeat purchases rather than secondary trading.Fri 19 JunThe Resurgence of Decentralized AI | RoundupDecentralized AI has moved from a theme all three hosts were fading a year ago to one they now take seriously, driven by frontier model restrictions and growing platform risk concerns. Miles argues the era of token-maximizing state-of-the-art models is effectively over as smarter routing spreads usage across cheaper models, compressing net new revenue from each successive hundred-billion-dollar training run.Fri 19 JunThe Resurgence of Decentralized AI | RoundupA year ago the hosts were fading decentralized AI entirely, but cracking confidence in frontier models has changed their view. Miles argues the era of token-maximizing state-of-the-art models is ending as smarter routing pushes usage toward cheaper models for lower-complexity tasks, eroding the revenue math that justifies hundred-billion-dollar training runs.Fri 12 JunInflection Point Cross-Post: Crypto Is Forcing Traditional Finance To UpgradeMatt Hogan of Bitwise describes a surge in advisor interest centered not on Bitcoin but on stablecoins and tokenization, with advisors weighing baskets of tokens like ETH, SOL, and LINK against crypto-linked equities such as Figure and Circle.Fri 12 JunBlockworks Acquires MessariBlockworks is acquiring Messari in a deal the hosts frame as completing Blockworks' multi-year transition from a media and events company into a data business. The combined entity claims the largest crypto dataset in the industry, built on a four-layer architecture spanning a system of record for on-chain businesses, a standardized data layer, an API serving developers and AI agents, and a workflow layer for exchanges, regulators, and asset managers.Fri 12 JunBlockworks Acquires MessariBlockworks has acquired Messari in a deal the founders describe as the capstone of a four-year shift from media and events into data, creating what they claim is the largest crypto dataset by a wide margin spanning 40,000 assets, on-chain and off-chain events, token unlocks, fundraising, and social sentiment. The combined entity is organized around a disclosure layer for on-chain assets, standardized APIs serving developers and AI agents, and a workflow layer for financial institutions.Fri 12 JunInflection Point Cross-Post: Crypto Is Forcing Traditional Finance To UpgradeIn a cross-post from the Inflection Point podcast, Matt Hogan describes an unusual market pullback in which advisor interest shifted away from Bitcoin toward stablecoins and tokenization, with Figure and Circle drawing the most attention. The episode works through the structural difference between stablecoins backed by short-term treasuries at full reserves and tokenized deposits running on fractional reserve banking, arguing the latter could trigger an SVB-style run at crypto speed.Fri 5 JunNEAR Is Betting Everything On AI Agents | RoundupNEAR Protocol has repositioned itself around AI agents and cross-chain interoperability over the past one to two years, and the speakers examine whether the technology justifies the narrative or whether the narrative is running ahead of reality. NEAR's architecture combines chain signatures using multi-party computation, an intent-based solver network where value accrues to the NEAR token, and trusted execution environments for private verifiable AI inference, with TEEs chosen over zero-knowledge proofs because ZK inference costs are considered prohibitive.Fri 5 JunNEAR Is Betting Everything On AI Agents | RoundupNEAR protocol has repositioned itself from a standalone layer-one chain into cross-chain middleware, using chain signatures to let users transact across multiple networks simultaneously without managing key complexity, and has placed a large bet on trusted execution environments for private AI inference rather than the more expensive zero-knowledge proof alternative.Fri 29 MayIs Crypto Broken? | RoundupMiles argues that crypto stands alone as the one major technology sector still in a bear market while AI, robotics, and others enter bull phases, and that the industry has produced almost no household names outside Bitcoin and Ethereum. The panel debates whether L1 tokens are better understood as globally scalable financial services businesses valued on revenues and fees rather than as money, a framing David Hoffman also advanced in a published piece.Fri 29 MayIs Crypto Broken? | RoundupMiles opens the discussion by pushing back on prevailing bear market pessimism, arguing this is actually the least confusing moment crypto has ever faced, with existential questions resolved and value creation now the central challenge. The panel examines how the 2017 ICO era, exemplified by EOS and Block One raising 4.5 billion dollars on speculative infrastructure projections, created incentive structures that rewarded token launches over fundamentals and discouraged real business builders.Fri 22 MayCan Ethereum Still Win? | RoundupDavid Hoffman publicly selling his remaining ETH and stepping back from a leading role at Bankless, alongside at least five departures from the Ethereum Foundation including executive director Tamara Jovanovic, signals a deepening crisis of confidence among Ethereum's most committed insiders.Fri 22 MayCan Ethereum Still Win? | RoundupThe Bankless hosts dig into whether Ethereum can recover its competitive position after a wave of high-profile Ethereum Foundation departures, including executive director Tamara after roughly one year, and David Hoffman publicly selling his remaining ETH.Fri 15 MayCircle’s Arc: Bull & Bear Cases | RoundupCircle has launched ARC, an EVM-compatible proof-of-authority Layer 1 blockchain using USDC as the gas token, targeting institutional settlement and AI agent payments, backed by a 222 million dollar pre-sale from BlackRock and Apollo at a 3 billion dollar valuation.Fri 15 MayCircle’s Arc: Bull & Bear Cases | RoundupCircle's new ARC blockchain, an EVM-compatible proof-of-authority Layer 1 using USDC as gas, raised 222 million dollars at a 3 billion dollar valuation from investors including BlackRock and Apollo, with a token listing planned around mid-year mainnet launch.Fri 8 MayCan Neobanks Break Traditional Banking? | RoundupNeobanks built on stablecoin rails were identified as the clearest winning category in the current cycle, precisely because traditional banks control settlement and will not willingly disrupt that structural advantage.Fri 8 MayCan Neobanks Break Traditional Banking? | RoundupThe podcast discusses the disruptive potential of neobanks in traditional banking, particularly emphasizing their alignment with stablecoins and blockchain technology. It explores skepticism around decentralized finance (DeFi) and highlights the role of fintech in bridging gaps with the crypto sector. Additionally, the conversation addresses the intersection of AI and blockchain, noting investment trends and the emergence of AI-native banks that may enhance crypto businesses' prospects.Fri 1 MayWhy Investable Tokens Need Real Disclosures | RoundupThe Token Transparency Framework, built by Blockworks with L1D and Fei, scores protocols out of 40 points and has drawn voluntary disclosures from roughly 40 projects, covering team identity, token supply, airdrop processes, and market maker agreements, which are described as the most sensitive element and disclosed by fewer than one percent of tokens today.Fri 1 MayWhy Investable Tokens Need Real Disclosures | RoundupThe podcast "Bell Curve" highlights the crucial need for real disclosures in the token market, emphasizing the Token Transparency Framework (TTF) and its positive impact on investor confidence and token value. It addresses the growing demand for accountability among crypto projects, urging founders to improve transparency about revenue and ownership structures. Additionally, the discussion explores the potential of AI and blockchain to enhance information access and transparency, aiming to restore trust and attract institutional investors in the evolving crypto landscape.Sun 26 AprWhat Brings Capital Back to DeFi? | RoundupIn this roundup, the panel examines what is keeping capital out of DeFi and what conditions might bring it back. Roughly 500 million dollars in exploit losses over one month, split between the Drift and Kelp DAO breaches, triggered contagion that pulled Aave deposits from approximately 45 billion to 31 billion dollars, with most of that capital leaving DeFi entirely rather than rotating to competitors.Sun 26 AprWhat Brings Capital Back to DeFi? | RoundupThe episode discusses significant losses in DeFi, particularly through Drift and Kelp, underscoring vulnerabilities in security and reduced user trust following recent hacks. It emphasizes the industry’s shift towards enhancing blockchain security while addressing the tension between composability and safety. With liquidity providers withdrawing and interest in real-world assets growing, the conversation highlights potential regulatory clarity and institutional investment as crucial factors for DeFi's future recovery and consolidation.Fri 24 AprCan DeFi Bounce Back? | Sam MacPherson & monetsupplySam MacPherson and monetsupply examine whether DeFi can recover from roughly 500 million dollars in hacks concentrated in approximately 30 days, including exploits tied to KelpDAO and Drift. They trace how a one-of-one DVN configuration in the Layer Zero ecosystem enabled attackers to forge messages, steal rsETH backing on Ethereum, and exit through Aave using ETH as decentralized collateral that cannot be frozen.Fri 24 AprCan DeFi Bounce Back? | Sam MacPherson & monetsupplyThe podcast centers on the resilience of DeFi, focusing on the Kelp Dow hacking incident that highlighted critical security vulnerabilities and the need for improved risk management, like two-of-three multisig configurations. Discussions include a shift back to Layer 1 solutions and the role of AI in enhancing hacking capabilities. The conversation also advocates for independent risk ratings and governance frameworks to support DeFi recovery, emphasizing lessons learned from past crises in both decentralized and centralized finance.Wed 22 AprThe Blockworks VisionBlockworks rebranded in April 2025, framing the moment as a strategic pivot toward becoming the connective tissue of on-chain capital markets over the next five to ten years. The company's core diagnosis is that crypto faces an asset problem and a trust problem, not a capital access problem, with the median token down 80 percent over five years and the total token count growing from roughly two million to 35 million.Wed 22 AprThe Blockworks VisionThe discussion centers on Blockworks' rebranding amidst a challenging crypto landscape, highlighting the divide between thriving institutional interest and struggling crypto-native projects. It emphasizes the critical role of regulatory relationships and trust in the industry, particularly in tackling information asymmetry and governance issues. The integration of AI for enhanced data operations is also mentioned, alongside the exploration of on-chain capital markets and Real World Assets (RWAs) as pivotal elements for future growth.Tue 21 AprSolana Is Becoming The Home Of Onchain Credit Origination | Marius Ciubotariu & Reid SimonMarius Ciubotariu of Kamino and Reid Simon of Figure discuss why Solana is emerging as the center of on-chain credit origination, anchored by Figure's roughly 22 billion dollars in tokenized home equity lines of credit and its FORGE platform, which converts non-fungible loans into standardized one-dollar participation units usable as DeFi collateral.Tue 21 AprSolana Is Becoming The Home Of Onchain Credit Origination | Marius Ciubotariu & Reid SimonThe podcast highlights Solana's evolution as a hub for on-chain credit origination, emphasizing the role of Camino in facilitating stablecoin liquidity and the transition to borrowing and lending. The discussion also underscores the tokenization of real-world assets (RWA) by Figure to enhance capital markets on-chain and improve credit transparency. Additionally, the speakers explore the intersection of DeFi and traditional finance (TradFi), focusing on the importance of understanding risks in credit products and the potential impacts of asset looping on liquidity and yields.Fri 17 AprThe Next Bull Market | RoundupThe hosts open by placing the current bear market at roughly six months deep, with Dave citing historical precedent of approximately 12-month bear cycles and flagging 2027 as the stronger year for crypto. The panel argues Bitcoin has become a fully institutional asset that will no longer generate the wealth effect feeding altcoin rotations, making thesis-driven investing essential.Fri 17 AprThe Next Bull Market | RoundupThe discussion focuses on the upcoming cryptocurrency bull market, highlighting the necessity for both retail and institutional engagement. Key drivers identified include new narratives, regulatory clarity, and the intersection of crypto with AI and decentralized technologies. Despite skepticism about retail participation, optimism persists for significant recovery in asset performance, particularly with Bitcoin and blue-chip cryptocurrencies, indicating potential shifts in market dynamics as developers and investors adapt to evolving trends.Tue 14 AprAgents as Companies: The EigenCloud Thesis | Sreeram Kannan & Gajesh NaikSreeram Kannan argues that AI agents become the new companies once property rights make them ownable as digital assets, and that blockchains are the only stable foundation in an AI era because AI cannot break cryptography. EigenLayer has evolved from restaking through AVS and EigenDA into EigenCloud, which maps to S3, EC2, and AWS Bedrock while delivering unstoppability and censorship resistance at cloud-scale cost.Tue 14 AprAgents as Companies: The EigenCloud Thesis | Sreeram Kannan & Gajesh NaikThe episode features discussions on EigenCloud, focusing on the agent-to-get economy and the innovative use of AI and blockchain technology. It explores EigenLayer's ambition to enhance application development on blockchains and the critical role of data availability services. Additionally, it addresses the evolving perceptions of cryptocurrency beyond financial use cases, emphasizing the significance of trust, verifiability, and the potential for AI agents to redefine ownership and economic structures.Fri 10 AprThe New Rules of Crypto Fundraising | RoundupCrypto venture fundraising has undergone a fundamental reset since the 2021 and 2022 bull cycle, when a white paper and strong pedigree could secure pre-seed capital with no product. Today pre-seed demands at least two co-founders, a prototype, and customer discovery, while seed increasingly requires demonstrated post-launch traction. Infrastructure pitches face particular skepticism after many prior bets failed to find distribution, and AI is compressing defensibility windows, making it harder than ever to identify businesses worth backing at early stages.Fri 10 AprThe New Rules of Crypto Fundraising | RoundupThe podcast emphasizes the shifting landscape of crypto fundraising, noting that founders must focus on market size and solid go-to-market strategies to secure seed capital in a cautious investment climate. It highlights the rising challenges of pre-seed funding, particularly in the AI and blockchain sectors, where clear narratives and defensible solutions are crucial for attracting investor interest. Founders are advised to adapt their pitches to investor expectations and strategically time their fundraising efforts in the current buyer's market.Fri 3 AprThe Bull & Bear Cases For Ethereum | RoundupEthereum's bull and bear cases get a thorough airing in this roundup, with three speakers landing at roughly neutral after working through the asset's core identity problem. The bull side rests on Ethereum's dominance in real-world assets, DeFi, and the coming agentic economy, where its credibly neutral positioning is seen as a structural advantage over chains tied to companies like Stripe.Fri 3 AprThe Bull & Bear Cases For Ethereum | RoundupThe discussion emphasizes the evolving landscape for Ethereum, highlighting both bullish and bearish perspectives. The bull case focuses on Ethereum's capacity to integrate real-world assets and the potential role of AI agents in enhancing its infrastructure, positioning it uniquely against competitors. In contrast, concerns about leadership disconnect, declining fee generation, and the need for new projects raise doubts about Ethereum's long-term viability and market confidence, amidst competition from chains like Solana.