RECENT EPISODES
Thu 9 JulIs Distribution Crypto's Biggest Moat?Distribution emerges as the central theme as the hosts examine how Hyperliquid and Trade XYZ together hold over 60 percent of on-chain perps market share, with Hyperliquid running just under 100 billion dollars in notional monthly volume, yet facing pressure from Binance's 100 million user base in the RWA perp space.Wed 1 JulSEC Commissioner Hester Peirce On The Rulebook For Crypto & Tokenized SecuritiesSEC Commissioner Hester Peirce joins the show to discuss the evolving regulatory framework for crypto and tokenized securities, drawing on her tenure since 2018 as a persistent minority voice whose dissenting positions have gradually become commission consensus. She walks through the SEC's three-category classification of tokenized assets, explains why synthetic tokenized securities require separate registration, and addresses the OpenAI case as a concrete example of the risks involved.Wed 24 JunIs Strategy’s Credit Machine Starting To Crack?Strategy's perpetual preferred share STRCH fell sharply between May 26 and June 1 after the company disclosed it had sold 32 Bitcoin, undermining Michael Saylor's accumulation-only thesis and pushing the instrument to around 87, implying a market yield of 12.5 to 13 percent against its stated 11.5 percent coupon.Thu 18 JunOutdated Rules Are Holding Crypto BackIn the first two quarters of 2026, crypto M&A already surpassed all of 2025, itself a record year, with deals including Blockworks acquiring Messari and Robinhood acquiring WonderFi.Fri 12 JunBlockworks Acquires MessariBlockworks has acquired Messari, combining Blockworks's deep qualitative research across specific protocol verticals with Messari's eight-year-old quantitative data infrastructure covering 40,000 assets across markets, on-chain events, stablecoins, token unlocks, and fundraising. The deal is framed as a response to a growing demand from institutions like Stripe, BlackRock, and Robinhood that are moving on-chain but lack tools to monitor assets and verify financials.Fri 12 JunHow Tokenization Will Rebuild Capital Markets | Gabe OtteGabe Otte, founder of Denari, makes the case that tokenization is not an incremental improvement to capital markets but a structural rebuild of how ownership is recorded, settled, and transferred. Denari holds a federal broker dealer license and SEC transfer agent registration, backing each token one-to-one with actual shares and guaranteeing NBBO pricing, which Otte contrasts with synthetic platforms that show observable price dislocations.Wed 10 JunCrypto Is Forcing Traditional Finance To UpgradeNear-term crypto markets are described as choppy due to macro crosscurrents including a potential Fed rate hike driven by five consecutive months of rising PCE, tariff inflation, and a Strait of Hormuz closure called the largest supply shock in history, while the long-term outlook is characterized as the most bullish ever seen.Wed 10 JunCrypto Is Forcing Traditional Finance To UpgradeAdvisor interest in crypto is rotating away from Bitcoin toward stablecoins and tokenization, with Matt Hogan reporting that across more than 40 advisors in a single day none were rattled by the pullback and all were asking about exposure beyond Bitcoin.Thu 4 JunAI Is Winning The Capital War Against CryptoAI stocks hitting all-time highs are drawing capital away from crypto, with Bitcoin spot trading volumes at their lowest seven-day moving average since October 2023 and ETF inflows reversing to net outflows after two months of gains. Regulatory uncertainty compounds the pressure, as DC insiders put the Clarity Act's passage odds between 5 and 30 percent despite Polymarket pricing it near 50 percent.Thu 28 MayHyperliquid Is The First Crypto Super AppHyperliquid's HYPE token hit an all-time high of 64.32 dollars and is up 156 percent on the year, with the platform now controlling roughly 70 percent of on-chain perpetuals market share and processing approximately 170 billion dollars in monthly volume. The discussion frames Hyperliquid as the first crypto super app, with four interlocking revenue engines feeding a buyback mechanism that has returned roughly 1.1 billion dollars to the protocol since launch.Thu 14 MayClarity's Make Or Break Moment And Strategy Selling Its BitcoinStrategy's recent disclosure that it would be open to selling Bitcoin drew measured market reaction, with analysts framing the move as adding flexibility rather than abandoning the accumulation thesis, since the core metric remains Bitcoin per share on a fully diluted basis and tax loss harvesting allows selling and immediate repurchase without changing net exposure.Thu 7 MayBitcoin Breaks $80k As Washington Moves On ClarityBitcoin's recent rise above $80k is fueled by strong ETF inflows and macroeconomic conditions, alongside optimism about the Clarity Act, which aims to clarify regulations for digital assets. However, potential banking opposition and ethical concerns may hinder its progress. Additionally, corporate interest in stablecoins and tokenization is growing, exemplified by Bullish's acquisition of Aquinity, as discussions around market structure highlight the need for flexible regulatory frameworks to support digital asset innovation.Thu 30 AprBitcoin Flows & DeFi Value Are Driving Crypto’s Next RepricingThe discussion highlights three key topics: First, the rising institutional demand for Bitcoin, propelled by ETF inflows and regulatory support, signaling bullish sentiment as Bitcoin prices are expected to fluctuate between $60,000 and $100,000. Second, leading DeFi protocols like Aave are viewed as undervalued, despite challenges, with hopes for a rebound in value as governance issues are addressed. Lastly, the significance of Bitcoin flows and DeFi advancements in the ongoing crypto market repricing is emphasized.Thu 23 AprDeFi Reality Check & The KelpDAO HackThe discussion focuses on the significant challenges faced by DeFi, particularly following the KelpDAO hack that resulted in $293 million in losses and raised concerns over risk management and liquidity. Despite substantial outflows from platforms like Aave and fears of centralized vulnerabilities, experts believe DeFi can emerge stronger. Additionally, AI's dual role in both facilitating exploits and enhancing security measures highlights the evolving relationship between technology and crypto ecosystems.Thu 16 AprStrategy's Yield Machine & SEC Unlocking DeFi Front EndsThe podcast discusses a financial engineering strategy that leverages preferred equity to reduce Bitcoin volatility while providing substantial yields, emphasizing MicroStrategy's innovative approach. It highlights the SEC's new DeFi broker exemption, which could reshape tokenized securities regulations and DeFi interfaces. Additionally, the role of insurance in the crypto space is underscored, especially with EigenLeah's AVS release for risk management. Overall, these topics reflect the evolving landscape of cryptocurrencies and blockchain technology.Sat 11 AprVaults Are The Next Asset Management RevolutionThe podcast highlights vaults as a transformative asset management solution, poised for significant market growth due to their efficiency, customization, and integration with decentralized finance (DeFi) strategies. It discusses the potential of vaults to attract institutional investors while addressing transparency and regulatory challenges, marking a shift toward smart contracts on blockchain. Additionally, future advancements may leverage AI in risk strategies, reflecting ongoing innovation within the cryptocurrency and blockchain sectors.Fri 3 AprCrypto's Quantum Risk is Coming Faster Than ExpectedThe podcast highlights the imminent risk of quantum computing to Bitcoin, emphasizing the potential for hacking and the urgent need for cryptographic advancements as Google's forecast has pushed "Q day" to 2029. Discussions revolve around Ethereum's adaptive strategies for post-quantum resilience, contrasting it with Bitcoin's slow governance response. Additionally, the threat of quantum harvesting exposes public keys, raising concerns about significant Bitcoin vulnerabilities, making calls for immediate action paramount within the cryptocurrency community.Fri 27 MarCrypto Still Lacks A Valuation FrameworkThe conversation highlights the urgent need for a shared valuation framework in cryptocurrency, particularly for Layer 1 (L1) blockchains, which may trend towards zero if treated solely as commodities. Discussions emphasize evolving valuation methods, advocating for a focus on cash flow, scarcity, and the unique characteristics of different networks. Insights are offered on distinct approaches to valuation, contrasting Ethereum's stable revenue streams with Solana's reliance on trading, underlining the complexity in assigning value within the crypto ecosystem.Tue 24 MarInvestor Relations in the Onchain EraMichael Ippolito discusses the evolving landscape of investor relations in the crypto market, emphasizing the need for transparency and data-driven practices as institutional capital grows. Blockworks Investor Relations aims to address these challenges by providing curated analytics and improved communications for on-chain businesses. The conversation highlights the disconnect between market cap growth and token performance, underscoring the importance of reliable data and standardized reporting to build trust within the crypto industry.Fri 20 MarThe S&P Moves Onchain Amid Massive Regulatory Sea ChangeThe S&P's transition to hyperliquid trading signals a shift to 24/7 institutional trading, amid regulatory changes that see the SEC categorizing crypto assets into five non-binding classifications. Significant advancements in Brazil include Nubank’s stablecoin initiatives and widespread use of stablecoins for transactions. Concerns about governance in the crypto space underline the need for clearer definitions of tokens as commodities or securities, impacting the future of digital assets and institutional engagement.Thu 12 MarKraken Gets Fed Access as Crypto Takes on the BanksKraken's acquisition of a "skinny" Fed Master account marks a significant advancement in bridging the crypto industry with traditional banking, potentially accelerating stablecoin adoption and tokenized assets. This move, amidst a cautious regulatory environment, reflects the growing intersection of decentralized and traditional finance. Additionally, the evolving landscape suggests optimism for future clarity in crypto regulations, although banks remain wary of competition from superior blockchain technologies. Overall, these shifts indicate a transformative phase for cryptocurrencies and their relationship with financial systems.Thu 5 MarIntroducing: Inflection Point | The Crypto-TradFi ConvergenceThe podcast "Inflection Point" highlights the convergence of traditional finance (TradFi) and cryptocurrencies, with increasing blockchain adoption by institutions like BlackRock and JP Morgan. Key moments such as the launch of Bitcoin ETFs signify a shift in institutional engagement, affecting market dynamics. Additionally, DeFi's ongoing evolution presents both challenges and opportunities, emphasizing the necessity for regulatory frameworks to unlock its potential amidst changing trading trends and macroeconomic influences on Bitcoin’s value.