RECENT EPISODES
Fri 6 NovROLLUP: Blue Wave, Black Swan | $6B Binance Heist | French Bank Robbed | ETH Goes Quantum-ProofThe hosts link Democratic midterm gains to backlash over Trump’s agenda, then weigh a sharp market selloff that erased an early rally without calling it an AI bubble burst. They examine the FBI’s attribution of the reported $6.34 billion Binance theft to North Korea, the recovery or freezing of about $2.85 billion, and the debate over whether blockchains should intervene to stop stolen funds. They also discuss Ethereum’s roadmap to complete its post-quantum transition by December 2028.Tue 3 NovThe Race for Private Ethereum | Zac WilliamsonZac Williamson explains how Aztec aims to build a private Ethereum, using zero-knowledge proofs to let smart contracts work with encrypted data while preserving composability. He discusses private credentials and regulated assets in DeFi, where applications could check compliance without exposing users’ identities or portfolios. He also argues that AI is making public transaction histories easier to analyze, raising the stakes for privacy, security, and affordable proving.Mon 2 NovThe Complete Zcash Roadmap | Sean Bowe and Dev OjhaSean Bowe and Dev Ojha outline Zcash’s roadmap to make shielded activity harder to trace while scaling and hardening the network. They explain how Tachyon’s recursive proofs could reduce verification and storage costs, and how private information retrieval helps wallets find payments without revealing which data they seek. They also describe an incremental post-quantum transition, spanning fund recovery, privacy, and protection against counterfeiting.Sun 1 Nov$VVV Community Call | OctoberVenice passed 5 million users in October, while daily tokens served topped 1 trillion after it switched to an uncensored DeepSeek default and expanded agentic chat. Monthly VVV burns exceeded $1 million, with programmatic burns recently outpacing discretionary ones. The call also covered VENC, Venice’s first exchange-traded product, listed by 21Shares on a Swiss stock exchange—a potential route to investors who cannot participate directly on-chain.Fri 30 OctInside the $6 Billion Binance Hack | Ari RedbordAri Redbord describes the roughly $6 billion Binance theft as a staged operation, with withdrawals and code tests preceding the hot-wallet attack, and discusses evidence linking it to North Korean cyber actors. He explains how Tether and Circle froze about $2.4 billion within an hour, while tracing and recovering the remaining funds depends on exchanges, law enforcement, and legal process. Redbord also says AI’s role is unknown, despite North Korea’s use of AI in other attacks.Fri 30 OctROLLUP: Bitcoin to $57K? | Wall Street Bets on Hyperliquid | The Tokenization War | Zcash DramaJason Calcanis sees Bitcoin revisiting $57,000 within 12 months, while Galaxy Digital’s Alex Thorn says the cycle bottom is in. ICE and TradeXYZ are developing a CFTC-approved, 24/7 venue for Hyperliquid perpetuals, offering synthetic price exposure rather than tokenized assets. Meanwhile, Wall Street’s tokenization fight sharpens as more than 30 issuers seek delisting from a new tokenized-stock venue, amid debate over regulated trading and investor access.Tue 27 OctWall Street, Regulation, and the Future of Money | J. Christopher GiancarloFormer CFTC chair J. Christopher Giancarlo explains why crypto needs rules that curb fraud without stifling innovation, and argues the Clarity bill’s Senate delay leaves the U.S. without the framework he called for in 2018. He recalls the first Bitcoin futures creating a regulated framework for crypto derivatives and backs bringing retail perpetual futures onto fully licensed U.S. venues.Mon 26 OctWhat Is Bitcoin Telling Us? | Michael Howell, Macro AnalystMacro analyst Michael Howell says Bitcoin’s resilience may be signaling something about liquidity, though he has not concluded the cycle has turned. His base case is that global liquidity bottoms in the second half of 2027, with Fed and Treasury interventions potentially shortening the downturn. He would revise his view if Bitcoin held above $70,000 and bank reserves showed further signs of being managed higher. He also explains why Bitcoin may outperform other crypto in a liquidity downswing.Sat 24 OctBlack October! What Is Happening to the Internet? | Hari Mulackal & Odysseas LamtzidisHari Mulackal and Odysseas Lamtzidis warn that AI agents and large language models are making cyberattacks dramatically cheaper and easier to scale, putting a wider range of internet businesses at risk. As public vulnerability disclosures can quickly trigger AI-assisted exploitation, organizations face less time to patch and should continuously test and strengthen their defenses. Crypto firms may be better prepared, but falling attack costs raise the stakes for everyone.Fri 23 OctROLLUP: Black October | Uptober Lasted 4 Hours | JPMorgan's Bitcoin Forecast | Gold AlchemyThe hosts examine “Black October,” including critical PHP vulnerabilities reportedly found with OpenAI’s GPT-5.6 and banks’ difficulty distinguishing malicious AI agents from user-directed activity. Bitcoin briefly reached $84,800 before market pressures ended “Uptober”; JPMorgan’s long-term outlook ranked Bitcoin first, forecasting 10% annualized returns over 10–15 years, a projection the hosts cautioned was no guarantee. They also discuss Marathon Fusion’s trace production of gold from mercury and the distant possibility that fusion could expand gold supply.Mon 19 OctThe CFTC’s Proposed Rules to Reshape US Crypto Markets | CFTC Chair Mike SeligCFTC Chair Mike Selig explains the agency’s proposed federal framework for crypto spot trading with margin, leverage, or financing, which could let participating exchanges serve customers nationwide while adding safeguards around customer funds and conflicts of interest. He discusses proposed margin rules and collateral use, plus coordination with the SEC on distinguishing digital commodities from securities. The framework is not final, and customer access depends on its adoption.Fri 16 OctROLLUP: Redtober Is Here | AI Debt Fears | $102M Ledger Attack | Richard Heart ArrestedBitcoin and altcoins remained under pressure in “down-tober” as hosts debated whether AI-credit stress is spilling into crypto; CoreWeave shares fell 17% and its 2032 bonds traded at 78 cents. Ledger reported an estimated $102 million stolen from 324 wallets after a hardware implant captured seed phrases. The episode also examines Richard Heart’s reported Istanbul arrest in connection with Finnish tax-fraud proceedings, separate from the dismissed SEC case.Mon 12 OctCypherpunk Owns $500M of Zcash and 18% of Its Hashrate | CIO Will McEvoyCypherpunk Technologies CIO Will McEvoy says the company holds roughly 325,000–326,000 ZEC, worth just under $500 million, and controls about 18% of Zcash’s hashrate as its largest miner. He explains its strategy of accumulating and mining ZEC while investing in privacy technologies, and argues that AI’s ability to connect transparent blockchain activity with personal data is renewing demand for Zcash’s shielded transactions.Fri 9 OctROLLUP: AI Threatens Crypto Security | Tom Lee Stops Buying ETH | Ethereum L2s Shut Down | Zcash ETFsJustin Drake warned that AI advances could put ECDSA-based crypto wallets at risk on a faster timeline than quantum computing, though hosts stressed the claim is disputed and cautioned against rushed transfers. Tom Lee said Bitmine would pause ETH purchases after reaching about 98% of its 5% supply target. Blast, Abstract and Pudgy Penguins’ consumer-focused L2 announced shutdowns, while Grayscale’s Zcash ETF reached $1 billion in assets and the Winklevoss twins filed for a Zcash ETF.Mon 5 OctWhy the Near $NRR ETF is Different | Hunter Horsley and Sal TernulloBitwise’s NEAR ETF, NRR, drew about $50 million in inflows during its first three trading days and stakes on investors’ behalf, though Hunter Horsley cautions the early figures are preliminary. He and Sal Ternullo discuss NEAR Intents, where solvers fulfill users’ requested outcomes, and its reported volume above 32 billion, with no currency specified. They make the case that NEAR’s potential as connective infrastructure for AI agents and multiple blockchains strengthens its investment thesis.Sun 4 Oct$VVV Community Call | SeptemberVenice reported daily LLM-token volume climbing from 100 billion on June 25 to 250 billion on September 16, outpacing its growth expectations, while cautioning that usage does not directly indicate revenue or VVV burns. Annual VVV emissions were set to fall to 2 million, though the team said that level may not make VVV deflationary and it will monitor staking and market responses. The call also covered the higher DM supply target and Venice’s privacy-focused approach to AI.Fri 2 OctROLLUP: Uptober Green Light? | Robinhood Goes All-In | $400M Bitget Hack | Prediction Markets to SCOTUSBitcoin’s close at $84,500 broke bearish market structure, though the bullish case depends on support holding. Robinhood is expanding into 24/7 stock trading, prediction markets, AI tools, and perps for eligible U.S. users. Bitget’s roughly $351 million to $387 million loss stemmed from an internal wallet-security breach, not a protocol hack. Meanwhile, conflicting federal appeals rulings make a Supreme Court fight over prediction markets increasingly likely.Wed 30 SeptIs Variational the Next Hyperliquid? | CEO Lucas Schuermann and Justin BramVariational CEO Lucas Schuermann and Justin Bram explain why the platform sees itself as a principal broker, not an exchange or direct Hyperliquid rival, and how it settles on Arbitrum while aggregating off-chain liquidity. They discuss bilateral swaps and the team’s claims about US100 trading costs and liquidity, as well as a targeted Q4 airdrop of 32% of token supply to points holders and plans to expand toward traditional brokerage markets.Mon 28 SeptBen Cowen Says You Have Permission to be BullishBen Cowen says Bitcoin’s weekly close around $82,800, its May high, will shape his Q4 outlook: above roughly $83,000 would make him bullish, while a close below would tilt him bearish, though he expects a higher low rather than necessarily a new one. He urges waiting for the close, notes Bitcoin’s resilience despite rising yields and a stronger dollar, and says altcoins still lack the liquidity and momentum for a broad altseason.Fri 25 SeptROLLUP: The Bull Market is On? | Zcash & NEAR | Kalshi Wash Trading | BlackRock Goes OnchainHosts debate whether Bitcoin’s rise to an eight-month high signals an early bull market, weighing technical indicators against macro risks. They examine Zcash’s near-decade high and NEAR’s surge as privacy-focused intents gain volume, then assess allegations of wash trading on Kalshi. The episode also looks at Ando and BlackRock’s tokenized portfolios and BlackRock’s case for programmable money in an AI-driven economy.Wed 23 SeptFOMO, Meme Stocks and Robinhood Chain | Andy8052 & Eric ConnerIn this episode, Andy8052 and Eric Conner delve into the evolving landscape of meme stocks and coins, highlighting their resilience and growing social accountability within the cryptocurrency market. Conner discusses the emergence of tokenized stocks on Robinhood, predicting that meme stocks will remain a significant theme as they gain structural sustainability. The conversation also touches on the role of AI in analyzing trading patterns and the potential for meme stocks to attract traditional investors, despite the inherent risks involved.Mon 21 SeptHow Robinhood is using the SEC's New Innovation Exemption | Johann KerbratIn this episode, Johann Kerbrat discusses how Robinhood is leveraging the SEC's new innovation exemption to advance its tokenized stock offerings, which operate as debt securities. The company has experienced significant interest, achieving over $1.2 billion in stock token volume in a single day. Kerbrat also highlights Robinhood's plans to enhance user experience through AI integration and cross-chain transactions, while addressing the need for comprehensive regulation in the cryptocurrency sector.Fri 18 SeptROLLUP: The Bull Market Test | Clarity Dies | SEC Opens the Door | Hyperliquid Comes OnshoreIn this episode, the podcast delves into the current bullish phase of the crypto market, highlighting Bitcoin's price stability and Zcash's all-time high as indicators of recovery. The SEC's introduction of an innovation exemption for tokenized stocks trading on decentralized exchanges marks a significant regulatory shift, while discussions around voting rights for token holders raise important governance questions.Wed 16 SeptArc Mainnet, AI Agents, and Tokenized Markets | Nikhil Chandhok, CTO of CircleCircle CTO Nikhil Chandhok explains how Arc aims to become an “economic OS,” combining roughly half-second transaction finality with stablecoin-paid gas and permissionless contract deployment. He discusses infrastructure for AI agents, including verifiable identities, reputation and tiny payments, and how agents could earn and borrow. The conversation also explores Arc’s role in tokenized markets, where round-the-clock trading and broader access depend on liquidity, local-currency ramps and partnerships with asset issuers.Mon 14 SeptCrypto is Ready for Onchain Options | Nick Forster, CEO of DeriveIn this episode, Nick Forster, CEO of Derive, explores the potential of on-chain options in the crypto market, highlighting their growth prospects despite current limitations. He discusses the challenges of market participation and the shift in trader interest following the 10-10 crash, which has increased demand for options as hedging tools.Fri 11 SeptROLLUP: Is Altcoin Season Here? | Treasury’s Bond War | Robinhood Chain Mania | OpenAI’s Math ControversyIn this episode, the hosts explore the potential onset of an altcoin season, with notable price movements in tokens like Zcash and Venice, while cautioning that Bitcoin's dominance remains significant. The discussion also covers the US Treasury's bond buyback strategy amid rising yields, raising concerns about inflation. Additionally, Robinhood's recent revenue surge from meme coin trading highlights the speculative nature of the current crypto market, as the hosts analyze the implications of tokenized stocks and governance rights.Mon 7 SeptThe New Economics of Crypto Tokens | Austin BarackIn this episode, Austin Barak explores the new economics of crypto tokens, emphasizing the intersection of crypto and AI as a key area for investors. He discusses the performance dynamics of liquid tokens, highlighting Venice's unique business model and its potential for significant growth. Barak also addresses the evolving landscape of crypto markets, predicting that the majority of future revenue will come from applications rather than execution layers, signaling a shift in how value is generated in the industry.Fri 4 SeptROLLUP: Robinhood’s Meme Economy | Solana Cuts Issuance | Saylor’s Comeback | AI AlarmIn this episode, the podcast delves into the explosive growth of Robinhood's meme economy, which generated $2.4 million in a single day amid high trading volumes. Solana's strategic decision to cut its issuance to a 1.5% annual floor signals a shift in blockchain economics. Additionally, Michael Saylor's bold Bitcoin repurchase at $80,000 raises questions about investment strategies in volatile markets, while concerns about AI advancements and their implications for cybersecurity are also discussed.Thu 3 SeptFWA and the New Market Structure for NFTs | Adam (Rhynotic) and Eric ConnerAdam (Rhynotic) explains FWA, a whitelisted NFT AMM where depositors pair NFTs with ETH backing and buyers pay to draw a random asset—or take its backing ETH—with Chainlink supplying randomness. He outlines artist launches funded by collector pledges, designed to reduce reliance on gas wars and rushed whitelist campaigns and introduce smaller artists to new buyers. The discussion also covers FWA’s fee-funded token incentives and the unresolved challenge of setting fair backing values and sustaining demand.Tue 1 Sept"We Want to Be Bigger Than the CME" | Kalshi's John WangIn this episode, John Wang of Kalshi outlines the company's ambitious goal to surpass the CME in valuation, aiming for a three-digit billion dollar range. He highlights Kalshi's impressive 90% market share in crypto prediction markets and its commitment to a regulated approach in the U.S. Wang discusses the launch of a pro interface for perpetual futures and the integration of new asset classes, emphasizing Kalshi's focus on institutional growth and market integrity while navigating legal challenges and expanding internationally.Mon 31 AugBullish on Automation and Robotics, but not Humanoid Robots | Shahin FarshchiIn this episode, Shahin Farshchi shares his optimistic outlook on automation and robotics, emphasizing the importance of tailored solutions over humanoid robots, which he views as niche. He discusses the potential for automation in emerging markets and highlights the need for workforce education to prepare for new job opportunities. Farshchi also explores the evolving role of AI in robotics, particularly the promise of vision-language models in enhancing automation capabilities across various industries.Fri 28 AugROLLUP: The Debasement Trade is Back | Bessent Put | Tokenized Stocks | AI Capital CrunchIn this episode, Hasib Greshi discusses the resurgence of the debasement trade, predicting Bitcoin's potential rise to $300,000 as liquidity increases in financial assets. He highlights the impact of the AI boom on government debt, with major companies becoming more attractive investments than U.S. bonds. The episode also explores the current state of tokenized stocks, noting low demand and liquidity issues, while anticipating future developments in the market.Thu 27 AugEthereum Privacy for Institutions | Mo Jalil and Oskar ThorenIn this episode, Mo Jalil and Oskar Thoren discuss the critical need for privacy solutions in Ethereum to facilitate institutional adoption. They highlight the challenges institutions face due to Ethereum's lack of built-in privacy features and the growing demand for customized cryptographic solutions.Tue 25 AugCoinbase Launches Tokenized Stocks on Base | Jesse PollakIn this episode, Jesse Pollak discusses Coinbase's launch of tokenized stocks on Base, designed to enhance global accessibility and tradability. These stocks will mirror real equities, offering users governance rights and dividends, with initial offerings from major companies like Nvidia and Apple. Pollak highlights the growth of the DeFi ecosystem on Base and the potential for significant adoption, while addressing compliance challenges and the evolving landscape of tokenized stocks as a means to democratize access to equities.Mon 24 AugWhat's Next for Bitmine after 5% of ETH? | Chairman Tom LeeTom Lee says Bitmine holds 5.82 million ETH, about 4.9% of supply and 97% of its 5% target, with roughly $350 million in purchases potentially remaining. He discusses staking rewards, financing the strategy, and Bitmine’s evolution into an Ethereum ecosystem company. Lee also considers how tokenization and AI could drive blockchain demand and why he thinks ETH could exceed $10,000 in one to two years.Fri 21 AugROLLUP: Is the Bull Market Back? | Treasury QE | Trump Pumps Crypto | SEC Token RulesOn August 19th, Bitcoin surged roughly 14% to around $72,300 and ETH climbed 23% to $2,330 in one of its largest single-day moves since 2018, with speakers divided on whether the bear market is broken or new lows remain possible. The Treasury's decision to double long-end bond buyback purchases from $2 billion to $4 billion, swapping duration-heavy bonds for money-like T-bills, was credited as a key catalyst alongside Trump's White House crypto event.Thu 20 AugWhy Ethereum MUST Change Its Monetary Policy | Sam Jernigan and Jerome de TycheySam Jernigan and Jerome de Tychey make the case that Ethereum's current issuance curve has no natural equilibrium, offering roughly 1.5 percent yield even at 100 percent ETH staked, and that without EIP 8363 more than half of all ETH will likely be staked by 2028, forcing unstaked holders to fund rewards through dilution.Mon 17 AugWhy Raising Rates Would Actually Calm Markets | Jim BiancoJim Bianco argues that rate hikes could calm bond markets by signaling the Fed is serious about inflation, easing bond-selling pressure even though long-term yields have risen despite six cuts totaling 175 basis points since September 2024. With inflation still around 3% to 4%, he expects rates to move higher as Fed officials grow divided over a hike. He also says AI data-center investment may sustain inflation for years before productivity gains become disinflationary around 2030.Fri 14 AugEtherFi’s Next Act: Stocks, Loans, and Global Banking | Mike SilagadzeEtherFi founder Mike Silagadze explains how the protocol is expanding beyond staking and a crypto credit card into a non-custodial banking platform where users can hold tokenized stocks through xStocks, borrow against their full portfolio at DeFi rates through an integrated Aave V4 market, and deposit salary directly into a named account.Thu 13 AugROLLUP: Bitcoin’s Fork Died in 2 Blocks | Saylor Sells Again | Robinhood Chain | Fidelity StakingThis week's rollup opens with the swift collapse of BIP 110, a Bitcoin soft fork that launched on August 8th at block 961,632 and died within two blocks after attracting only 2.53% of the hash power needed, with Nick Carter calling it the worst fork in Bitcoin history and a sign that hardcore maximalism is a fading cultural relic.