RECENT EPISODES
Wed 4 NovMARKET UPDATE: What The Blue Tsunami Means For The MarketsThe episode examines the election as a rejection of Trump over affordability, not a sweeping endorsement of Democrats, and asks what the result means for markets. The speakers favor staying long equities, Bitcoin and the Nasdaq as midterm fears ease, while weighing oil’s geopolitical risks. They also discuss bipartisan resistance to data centers and how project delays could reshape the outlook for chipmakers, hyperscalers and AI infrastructure.Fri 30 OctIllia Polosukhin On The Future Of AI, Crypto, And How Near Is Going To WinIllia Polosukhin argues that AI agents will need markets infrastructure to find services, transact and settle disputes, with blockchain handling payments while agents act as the interface. He explains how NEAR Intents lets users specify outcomes rather than manage networks and bridges, and why NEAR is building an integrated stack for agent commerce, including verifiable AI compute.Wed 28 OctMARKET UPDATE: Anthropic S-1, Market Bottoms, What’s Next?Anthropic’s S-1 showed $132 billion in cash against more than $500 billion in forward compute commitments; one speaker estimated the company may need to raise about $80 billion, but said deeply negative expectations had already priced in much of the risk. Intel, Sandisk and the Nasdaq rose after the filing, which speakers attributed to prior de-risking and short covering. They see the AI trade as early-stage, while warning of volatility and midterm-related uncertainty.Wed 21 OctMARKET UPDATE: What Breaks First — Bitcoin, AI, or the Bond Market?After a 5% Nasdaq decline and Bitcoin’s sharp fall, the speakers debate whether markets are overreacting—or whether credit stress could force a broader selloff. CoreWeave’s funding gap and distressed bonds put AI buildout financing in focus, though they disagree on whether neocloud trouble threatens hyperscalers and chipmakers. They also assess Bitcoin’s resilience and competing concerns about threats to public-key cryptography.Wed 14 OctArthur Hayes On The Early Days Of BitMEX, Where Bitcoin Is Going, And Why We Are Over-Indexing On AIArthur Hayes recalls building BitMEX around derivatives and the perpetual swap, and says he remains long Bitcoin, which he sees as supported by governments’ tendency to print money rather than absorb economic losses. He argues investors are overpaying for AI companies whose revenues may not cover compute costs, even if the technology proves useful. He has also returned to develop Flop Network, designed to let AI agents pay miners for computing power.Wed 30 SeptMARKET UPDATE: Alts Ripping, Economy Crushing, Scammers Scamming — What’s Next?The discussion examines the RuneScape Gold dispute, with Obby denying a rug pull and urging investors to check token histories as speakers warn that meme-coin promotion can become a “snake pit.” They also assess markets’ limited reaction to the Iran war and oil disruption, then consider longer-term opportunities and risks tied to AI, Bitcoin, biotech, copper, and tokenization.Mon 28 SeptCrypto Is Rebuilding The Financial System — And Opportunities AboundLayerZero’s cross-chain network now supports about 170 chains and has moved more than $300 billion, as its team argues interoperability can let specialized chains coexist while assets move seamlessly. The episode explores Zero, a ZK-first blockchain targeting roughly 2 million transactions per second, and Atlas, a trading and settlement engine being tested by major exchanges and institutions. It also examines tokenized markets, stablecoin growth, and the regulatory and settlement trade-offs on the path to production.Fri 25 SeptInside The Government Seizure Of Signature BankScott Shea recounts Signature Bank’s seizure after an $18 billion deposit run, saying the bank had reported $34 billion in cash and liquidity and raised $20 billion over the weekend. He disputes the view that Federal Reserve rate hikes drove the bank’s failure and argues it still had ample capital. The episode also examines crypto-friendly SIGNET, which Shea says processed about $1 trillion by the end of 2022.Wed 23 SeptMARKET UPDATE: Meta, Bitcoin, Crude And The Economy Are All Ripping. How Long Can It Last?Meta’s Muse assistant has reached hundreds of millions of downloads, while speakers argue AI infrastructure investment is supporting copper demand and could keep equities strong. With the 10-year yield above 5% and pressuring the Nasdaq, they see possible Treasury intervention and money creation as supportive of Bitcoin and crypto. On crude, they revisit how the shale boom reversed 2008-era fears of U.S. oil shortages, without offering a current price forecast.Wed 16 SeptMARKET UPDATE: Crypto Is Used To Buy Oil?! FED Meeting, And Economy RippingIn this episode, the discussion centers on the surprising use of cryptocurrency to purchase oil, highlighted by Poland's $230 million loss in a failed transaction with Venezuela, raising concerns about the risks in this emerging market. The Federal Reserve's recent interest rate hike and its potential bullish implications for Bitcoin and gold are also examined, alongside the anticipated demand for copper driven by advancements in AI.Fri 11 SeptMARKET UPDATE: Live With GMoney, Inflation Is In, Is This The Crypto Top?CPI matched expectations as the Nasdaq rose about 1% and ETH gained 6%, even as rate-hike expectations increased—leaving the question of whether crypto is near a top unresolved. The discussion also weighs whether higher rates can slow AI investment, with Nvidia’s earnings supporting a bullish view of compute demand. GMoney explores on-chain tokenized stocks, including Quotrons, and why he sees them as a promising opportunity.Thu 10 SeptMARKET UPDATE: Hunter Biden Scams Us, $INTC Rips, Commodities Onchain, Anthropic's Skynet RiskIn this episode, Avi discusses the implications of Hunter Biden's meme coin launch, criticizing its potential to tarnish the crypto industry's reputation. He highlights a 20% surge in Intel stock, attributing significant profits to his recommendation, while expressing optimism about on-chain commodities trading. Avi raises concerns about outdated trading mechanisms and the impact of AI on investment strategies, predicting a market "melt-up" driven by technological advancements, despite skepticism about the sustainability of meme coins.Fri 4 SeptMARKET UPDATE: Hot Payrolls, Hotter Memecoins, And Se From FOMO Talks The Future Of TradingThis episode delves into the current job market, revealing an unemployment rate of 4.1 percent that may influence Federal Reserve interest rate decisions. It also explores the surge in meme coins driven by new investments, contrasting views on tokenized securities from industry leaders. The discussion highlights the rise of social trading platforms like FOMO, which aim to enhance trading transparency and education, while predicting a future where AI significantly impacts trading strategies and market dynamics.Wed 2 SeptMARKET UPDATE: What Is MemeFi, WAR With Iran, & The Fed Not Backing Down — What You Need To KnowIn this episode, the hosts explore the rise of MemeFi, linking meme coins to microcap stocks and the growing popularity of social trading platforms like FOMO. They discuss the implications of the ongoing conflict with Iran, including its impact on oil prices and defense contracts, while also analyzing the Federal Reserve's stance on interest rates amid a bear market. The conversation highlights the speculative nature of meme coin investments and the potential for significant market shifts in the near future.Tue 1 SeptWhy The $30B Asset Manager Franklin Templeton Is Betting Big On CryptoFranklin Templeton is significantly investing in the crypto sector, driven by Seth Gins, who launched the firm's crypto fund in 2020. Gins predicts a convergence of crypto and traditional finance by 2026, while emphasizing the need for institutional custody to legitimize crypto as an asset class. He also discusses the implications of the Clarity Act for traditional banks entering the crypto market and highlights the importance of management quality and volatility in assessing crypto investments.Wed 26 AugMARKET UPDATE: Bitcoin Rally, Zcash ETF, Bessent Humbled, NVDA EarningsIn this episode, Bitcoin is on a significant rally, nearing the $80,000 mark, driven by macroeconomic factors and predictions of a future price of $1 million. The launch of the Zcash ETF has garnered attention, trading at $15.5 million on its first day, with expectations for further growth due to its privacy features. Additionally, Nvidia's earnings are under scrutiny, with the potential for a short-term rebound if expectations are exceeded, despite historical sell-off patterns.Mon 24 AugWhat It’s Like Running A Billion-Dollar Market-Neutral Fund In CryptoIn this episode, Evgeny shares insights from his experience running a billion-dollar market-neutral fund in the crypto space. He discusses the critical distinction between legacy vulnerabilities and AI's role in identifying security weaknesses, emphasizing the challenges of obtaining reliable information in crypto compared to traditional finance. Evgeny also highlights the importance of effective risk management in DeFi, the cyclical nature of commodities reflecting crypto volatility, and the promising future of innovations like tokenized stocks.Mon 10 AugThe ETF Pioneer Who Calls Narratives Before Wall StreetAndrew Shannon discusses spotting durable investment narratives before they become conventional themes, from his HACK cybersecurity ETF, launched November 4, 2014, shortly before the Sony breach, to space investing. He explains why a compelling theme also needs an index built for its long-term prospects, and how lower launch costs and national-security demand shape the space industry. He also weighs the risks of private-company exposure in ETFs, including SPV fees and liquidity restrictions.Wed 5 AugMARKET UPDATE: FED Backstops The Yen, Metals Rip, And Neoclouds ReboundScott Bessent is described as intervening in the yen currency market on the logic that a stronger yen reduces carry trade unwinding pressure on US treasuries, which is preferable to Japan selling its treasury holdings outright, as Japan has now surpassed China as the largest offshore holder.Mon 3 AugPsychology, Value, and Data: How Santiago Santos Navigates The MarketsSantiago Santos, former partner at Parify who sold the top of the crypto market in 2021, explains why he structured Inversion as a holding company rather than a fund, specifically to avoid the incentive distortion of deploying committed capital on a deadline.Fri 31 JulMARKET UPDATE: How Situational Awareness Blew Up, Will Rates Nuke Us, What’s Next?Leopold Aschenbrenner, whose Situational Awareness paper gave him credibility to raise billions, blew up his fund by running roughly 4x leverage across high-volatility AI and memory stocks while owning approximately 25 percent of NBIS, far exceeding the 10 percent of average daily volume guideline.Tue 28 JulEx-Palantir Analyst On The Inner Workings Of Intelligence & Markets In A World Of SocialismA former Palantir analyst turned hedge fund researcher, Alex Goode explains how Palantir's original counterterrorism ontology mapped associates, license plates, and bank accounts to identify military targets in Afghanistan, and how that same data-structuring logic later informed a trading strategy built on advertising performance signals for Google, Facebook, and Twitter stocks.Wed 22 JulHas Memory Bottomed?Memory stocks sitting 30 to 40 percent off their highs are the central question, with the speakers having called a re-entry at that level before an additional 10 percent decline forced a more cautious stance of raising cash and trimming positions after Micron's post-earnings reversal.Mon 20 JulThe Citadel Alum Reshaping The World Of TradingFormer Citadel prodigy Vlad, who was personally recruited by Ken Griffin at age 18 and flagged Bernie Madoff's implausible Sharpe ratio to Griffin in 2004, now leads Lighter, a crypto exchange built around custom zero knowledge circuits that require only one percent of the compute needed by general purpose equivalents.Mon 20 JulThe Citadel Alumn Reshaping The World Of TradingVlad, founder and CEO of Lighter, was recruited by Ken Griffin to join Citadel at 19 after graduating Harvard in two and a half years, and in his first week there he flagged Madoff's implausibly high Sharpe ratio as evidence of fraud, a conclusion Griffin confirmed in 2004, five years before the scheme collapsed publicly. That experience directly motivated Vlad to apply blockchain to finance, arguing that on-chain settlement with zero-knowledge proofs would make a Madoff-style fraud impossible.Wed 15 JulThe Market Can't Make Up Its MindCrypto’s outlook remains divided: one speaker sees Bitcoin as a short-term bounce trade as selling exhaustion sets in, while another favors slow accumulation and warns that higher rates and weak speculative demand could keep markets subdued. The discussion also weighs whether market flows or fundamentals will drive prices, and how uncertainty over the Clarity Act could shape stablecoins, DeFi and tokenization.Mon 13 JulFrom Poker Pro To Trading Giant: Inside The Mind of Selini CapitalJordy, founder of Selini Capital, joins the episode to trace his path from poker to running a crypto market making firm that spends tens of millions on infrastructure including microwave feeds from New York to Japan and collects monthly retainers from exchanges for liquidity provision.Mon 6 JulAre The AI Labs Getting Nationalized?Some AI researchers privately expect the US government to impose full Los Alamos style control over AI labs within three years, placing engineers in restricted facilities, limiting travel, and treating AI development as a military program, and Ari Paul frames this as a live investment risk that he has not seen seriously priced into AI company valuations.Wed 1 JulWho's Coming For The Market In Q3?With the NASDAQ closing Q2 up 19.6 percent, its strongest quarter since Q2 2020, the hosts wrestle with who is still buying and whether the rally has legs into Q3. The AI capex thesis that drove chip names like Micron and Intel is seen as largely exhausted, with Micron's failure to hold gains after a massive earnings beat read as a sector warning sign.Wed 24 JunAI Cracks: Where Do You Hide?Avi and Jonah argue the AI trade is entering its later innings, with hyperscaler free cash flow approaching near zero as Google, Meta, and Amazon absorb $600 billion to $700 billion in data center commitments, leaving little upside in those names. The more actionable signal is where hyperscaler spending flows next, with memory stocks, fiber optics, and biotech cited as less saturated opportunities.Fri 19 JunSpaceX Over, Fed Meeting Done, What’s Next?Kevin Warsh delivered a hawkish FOMC press conference but markets absorbed it without significant damage, with the dot-plot pricing in one rate hike through year-end roughly matching expectations and a Goldilocks period expected to persist through at least August or September. The SpaceX IPO did not emerge as a negative catalyst.Wed 17 JunAre Rate Cuts Dead?With the Fed's rate decision itself treated as a near-certainty to hold, the real question heading into Powell's 2:30 PM press conference is what forward guidance signals about the path ahead, and the speakers conclude rate cuts are not dead but remain highly conditional on oil and inflation.Fri 12 JunSpaceX: Start of the Next Megabubble or End of the Rally?SpaceX opened its IPO at a $1.77 trillion valuation, with shares moving from $1.35 to $1.77 in 35 seconds and trading at roughly 94 times revenues, prompting debate over whether megatrend multiples make traditional valuation analysis irrelevant. Index-driven buying from MSCI, NASDAQ, and Russell funds is estimated to force roughly 14 yards of inflows across the first 15 days post-IPO, while the low float held largely by long-term sovereign wealth holders amplifies upward price pressure.Wed 10 JunDid Trillion-Dollar IPOs Break The Social Contract?When SpaceX, OpenAI, and Anthropic are expected to debut at valuations between one trillion and one and a half trillion dollars, compared to Google's IPO at roughly twenty billion and Facebook's at roughly one hundred billion, the hosts argue that private markets are capturing nearly all returns before ordinary investors can participate, breaking what they call the social contract of public markets.Thu 4 JunIs Robotics The Next Megabubble?Andrew Kang of Mechanism Capital makes the case that robotics is on track to become a ten trillion dollar industry, with the critical inflection point being ChatGPT's emergence in 2022, which signaled that the long-standing intelligence barrier to practical robots was finally falling.Wed 3 JunThe Market Is Splitting In Two — How Do We Navigate it?The market is splitting into winners and losers at a level of dispersion the speaker describes as unprecedented, with Hype, Zcash, and VVV outperforming sharply while majors like Bitcoin, Ethereum, and Solana lag. Zcash is rising as investors rotate out of Bitcoin into quantum-resistant alternatives, and XMR is predicted to gain another 50 percent against ZEC.Fri 29 MayIs This The End Of Crypto?The episode title is acknowledged upfront as clickbait, with the actual thesis being a K-shaped crypto recovery in which revenue-generating blockchain assets rally while non-productive tokens collapse toward zero. Bitcoin is described as having lost its historical correlations with tech stocks, gold, and M2 money supply, now trading only against itself after being absorbed into the Wall Street financial system.Wed 20 MaySticky Inflation + Energy Prices: End of the Rally or Pause?In this episode the hosts examine whether sticky inflation and rising energy prices mark the end of the current equity rally or merely a pause.Wed 13 MayIs The Soft Landing Officially Dead?Fed funds futures are pricing a 95 percent probability of no rate change at the next Fed meeting, with the remaining 5 percent assigned to a hike rather than a cut, and PPI came in at plus 1.4 percent month over month against a consensus of plus 0.05, raising the question of whether the soft landing narrative is finished.Wed 6 MayIs This The Everything Rally?The discussion centers on the current stock market dynamics, emphasizing the "Everything Rally" and the impact of psychological behavior on investment strategies, particularly with AI and crypto. Key insights include Bitcoin's resilience amidst high valuations and the cautious, yet optimistic view on altcoins like Zcash. Additionally, advancements in AI are noted as influencing market shifts, with concerns regarding sustainability and valuation discrepancies highlighted amidst ongoing geopolitical tensions.