Supply Shock

In this special episode of Supply Shock live from Permissionless IV, Pete Rizzo hosts a panel of top builders pushing the frontier of Bitcoin development: Jeff Garzik (Hemi), Muneeb Ali (Stacks), Eli Ben-Sasson (StarkWare), and Hong Kim (Core). They debate where to build in the Bitcoin ecosystem, the evolving use cases for Bitcoin L2s, and how to make BTC productive through lending, yield, and interoperability. The panel also explores the path to mass adoption, the limits of Bitcoin's base layer, and whether mainstream apps like Polymarket can thrive on Bitcoin. Enjoy!
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Follow Jeff: https://x.com/jgarzik 
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Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
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Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit https://www.ledn.io/ to learn more. 
—
Timestamps:
(00:00) Introduction
(02:53) Challenges and Opportunities in Bitcoin
(06:26) Ledn Ad
(07:07) Challenges and Opportunities in Bitcoin
(08:26) Use Cases and Innovations
(14:20) Mainstream Adoption and Success Metrics
(18:30) Ledn Ad
(19:17) Mainstream Adoption and Success Metrics
(24:52) Technical Barriers and Solutions
(36:03) Corporate Treasury and Yield
(40:15) Final Thoughts
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
 
#Bitcoin #Crypto #SupplyShock

Where To Build In The Bitcoin Network

In this episode live from Permissionless, Milk Road founder Kyle Reidhead joins the show to discuss the drivers of Bitcoin demand, the impact of the Israel-Iran war, and whether crypto money will chase crypto IPOs, treasury companies, or something else. We also discuss Michael Saylor &amp; Strategy, who wins the stablecoin boom, what the future for Bitcoin looks like, and more. Enjoy!
—
Follow Kyle: https://x.com/KyleReidhead 
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Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
Supply Shock Survey: https://bitcoinhistorynl.beehiiv.com/forms/979475d9-fb4b-4c13-99af-5037dd5718c6 
—
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
—
Timestamps:
(00:00) Introduction
(00:32) What Drives Bitcoin?
(06:15) Ledger Ad
(08:26) Bitcoin vs Gold
(14:19) This Cycle’s Narrative
(18:20) Ledger Ad
(19:08) Strategy &amp; Crypto Treasury Companies
(24:28) Where Does Value Accrue in Crypto?
(27:07) Regulation Tailwinds
(29:24) Bitcoin vs Crypto
(32:22) Bringing the World Into Bitcoin
(35:15) Big Bitcoin Catalysts
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Bitcoin’s Next Demand Shock Is Coming | Kyle Reidhead

In this special episode from the Empire podcast, Blockworks unveils its new Token Transparency framework—an initiative designed to close the information gap and bring much-needed clarity to the crypto space. Dan Smith, Head of Data at Blockworks, explains how this framework will reshape how token projects operate and why transparency is the key to crypto’s future. Enjoy!
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Follow Dan: https://x.com/smyyguy 
Fallow Yano: https://x.com/JasonYanowitz 
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Follow Supply Shock: https://twitter.com/SupplyShockBW 
Follow Blockworks: https://twitter.com/Blockworks_ 
 
Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
Supply Shock Survey: https://bitcoinhistorynl.beehiiv.com/forms/979475d9-fb4b-4c13-99af-5037dd5718c6 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
—
Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit https://www.ledn.io/ to learn more. 
 
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
—
Timestamps:
00:00 Token Transparency
02:25 The Token Market &amp; Lemons
09:54 Ads (Ledn)
10:30 The Token Market &amp; Lemons Cont'd
11:40 Equity vs Token Risk
14:18 Structural Token Issues
17:12 How Did We Get Here?
22:57 Token Horror Stories
31:50 Token Launches
36:06 Ads (Ledn)
36:51 Token Launches Cont'd
56:50 Best Case Scenario
01:02:38 Impact On Token Prices
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
 
#Bitcoin #Crypto #SupplyShock

Empire | Introducing the Token Transparency Framework

In this episode, Bitcoin historian Pete Rizzo joins the Milk Road Show to share his thesis on the coming explosion of Bitcoin treasury companies and why they may drive the next major inflow into Bitcoin. He explains why stablecoins and NFTs were once ignored just like Bitcoin treasuries are now, why thousands of firms—not dozens—might soon hold BTC, and how this could mirror past crypto waves like CoinMarketCap and the ICO boom. The episode also touches on meme coins, regulatory bottlenecks, tokenized stocks, Bitcoin vs. crypto culture, and more. Enjoy!
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Follow Jay: https://x.com/JayHamilton0 
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Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
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—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
—
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
—
Timestamps:
(00:00) Introduction
(02:32) How Bitcoin’s Narrative Quietly Shifted
(10:50) Ledger Ad
(11:36) What’s the Big Trend Everyone’s Missing?
(14:09) Is an Altcoin Season Still Coming?
(18:54) Ledger Ad
(19:41) Why Japan’s Bitcoin Stocks Are Booming
(21:48) Do We Need This Many Bitcoin Treasury Companies?
(25:29) How Bitcoin Companies Will Evolve Next
(27:08) Is This Bitcoin’s Biggest Inflow Catalyst?
(27:50) Has Crypto Innovation Hit a Wall?
(33:42) Are Tokenized Stocks &amp; Stablecoins the Future?
(38:36) Why Bitcoin Needs Separation from Crypto
(41:07) Are More Bitcoin Winters Inevitable?
(47:15) Wrap-Up
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
 
#Bitcoin #Crypto #SupplyShock

Bitcoin's Biggest Bubble Is On Its Way | Milk Road

This week, Rizzo is joined by Nolan Bauerle and Michael McSweeney for a heavyweight clash of Bitcoin visions: Jack Dorsey vs. Michael Saylor. The panel breaks down Dorsey’s developer-first, decentralized payments push versus Saylor’s Wall Street-centric, corporate treasury strategy. They debate who's funding Bitcoin’s future, who’s leading the charge in public perception, and which model holds up better under political and economic pressure. Enjoy!
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Follow Nolan: ⁠https://x.com/countbtc⁠  
Follow Michael: ⁠https://x.com/mpmcsweeney⁠  
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Follow Supply Shock: ⁠https://twitter.com/SupplyShockBW⁠ 
Follow Blockworks: ⁠https://twitter.com/Blockworks_⁠  
Supply Shock Telegram: ⁠https://t.me/+SpmLg6P_QcgxNDcx⁠ 
Supply Shock Newsletter: ⁠https://blockworks.co/newsletter/supplyshock⁠ 
Supply Shock Survey: ⁠https://bitcoinhistorynl.beehiiv.com/forms/979475d9-fb4b-4c13-99af-5037dd5718c6⁠ 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! ⁠https://blockworks.co/event/permissionless-iv⁠ 
—
Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit ⁠https://www.ledn.io/⁠ to learn more. 
—
Timestamps:
(00:00) Introduction
(03:01) Michael Saylor's Bitcoin Journey
(05:14) Jack Dorsey's Bitcoin Vision
(08:44) Comparing Saylor and Dorsey's Approaches
(11:22) Ledn Ad
(11:59) Investment Strategies and Funding
(20:32) Corporate Treasury and Market Impact
(28:29) Personal Reflections on Jack Dorsey
(28:58) Ledn Ad
(29:45) The Cult of Personality in Bitcoin
(31:19) Narrative Building and Financial Engineering
(32:33) Corporate Adoption of Bitcoin
(34:47) The Evolution of Bitcoin Narratives
(35:30) Human Capital and Industry Shifts
(37:25) Political Influences and Bitcoin
(40:48) Challenges and Opponents
(48:21) The Future of Bitcoin
(49:20) Final Thoughts
—
Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Bitcoin #Crypto #SupplyShock

Bitcoin Visions Collide: Jack Dorsey vs. Michael Saylor

In this episode, Bitcoin OG Isaac Miller recounts his journey from HODLing coins in 2013 to becoming a cultural icon through viral videos and meme coins. He reflects on the shifting ethos of Bitcoin—from its cypherpunk roots to political adoption and corporate backing—while warning that many early believers have lost touch with the tech’s evolution. Miller also defends his engagement with meme coins and argues that Bitcoin remains a foundational freedom technology. Enjoy!

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Follow Isaac: https://x.com/IsaacMiller
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv
—
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
—
Timestamps:
(00:00) Introduction
(01:41) Bitcoin OG: Isaac Miller
(04:41) Bitcoin Then vs Now
(11:38) Ledger Ad
(12:23) Bitcoin Spending Regrets?
(13:38) Bitcoin Mining
(15:04) Libertarianism &amp; BTC Economics
(18:04) Bitcoin &amp; Politics
(20:09) Has Bitcoin Sold Out?
(23:25) Bitcon’s Changing of the Guard
(26:53) Bitcoin vs Other Crypto Assets
(32:41) Ledger Ad
(33:27) Isaac Meme
(37:29) Coinbase Partnership
(40:03) Meme Coins Are for Fun
(44:53) Bitcoin vs New Technologies
(50:44) Stablecoins &amp; Tether
(54:11) Freedom &amp; Bitcoin
(58:06) Are We Still Early?
(01:02:16) Isaac’s Biggest Contribution
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Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about thinking about putting your money into these crazy markets.

He Bought Bitcoin at $80 — Why He's Buying at $100,000 | Isaac Miller

In this episode, veteran Bitcoin developer Matt Corallo joins to discuss why second layers like Lightning and Ark are essential for scaling Bitcoin — and why current laws put them at risk. He breaks down the regulatory blind spots threatening non-custodial wallet developers, and advocates for the Blockchain Regulatory Certainty Act to preserve open-source Bitcoin innovation in the U.S. Corallo also challenges Bitcoin's cultural orthodoxy, pushing for realism on decentralization, L2 tradeoffs, and the future of meaningful development. We cover Bitcoin maximalism, scaling via hybrid wallets, legal tail risks to L2s, and more. Enjoy!
 
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Follow Matt: https://x.com/TheBlueMatt 
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Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
Supply Shock Survey: https://bitcoinhistorynl.beehiiv.com/forms/979475d9-fb4b-4c13-99af-5037dd5718c6 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit https://www.ledn.io/ to learn more. 
 
—
Timestamps:
(00:00) Introduction
(01:38) Is Bitcoin Mainstream?
(03:50) Saveourwallets.org
(07:49) Bitcoin Rights
(10:31) Ledn Ad
(11:08) Why Wallets?
(12:10) Next Steps
(14:53) Tackling Regulation
(17:21) Bitcoin Payments &amp; Lightning
(22:08) Is Bitcoin Special?
(25:51) Is Bitcoin Decentralized?
(28:37) Multiple Bitcoin Implementations
(32:39) Ledn Ad
(33:26) Bitcoin’s Roadmap
(36:36) Bitcoin's Vision &amp; Leadership
(39:47) Bitcoin Price vs Tech Development
(45:17) Bitcoin L2s &amp; Non-Custodial Wallets
(52:46) Debating “Valid” Transactions
(01:01:23) Node Runner Rights
(01:02:47) Bitcoin Maximalism
(01:06:36) Bitcoin’s Values &amp; Culture
(01:14:18) Final Thoughts
 
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Save Our Wallets: The Legal War on Bitcoin | Matt Corallo

Live from the Bitcoin 2025 conference, Adam Back and Sean Bill of Blockstream break down the quiet but massive shift underway as institutions, pensions, and sovereign funds begin allocating to Bitcoin. They discuss Blockstream's mining investment strategies, institutional Bitcoin income funds, and the rise of Bitcoin treasury companies like MicroStrategy. They explain how institutions are navigating custody, risk management, and public sentiment, while warning of potential excesses in debt-fueled Bitcoin accumulation strategies. Enjoy!
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Follow Adam: <a href="https://x.com/adam3us">https://x.com/adam3us</a> 
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Join Supply Shock Telegram: <a href="https://t.me/+SpmLg6P_QcgxNDcx">https://t.me/+SpmLg6P_QcgxNDcx</a> 
Supply Shock Newsletter: <a href="https://blockworks.co/newsletter/supplyshock">https://blockworks.co/newsletter/supplyshock</a> 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! <a href="https://blockworks.co/event/permissionless-iv">https://blockworks.co/event/permissionless-iv</a> 
—
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at <a href="https://ledger.com">https://Ledger.com</a>.
—
Timestamps:
(00:00) Introduction
(01:59) Blockstream
(04:29) New Wealth Coming to Bitcoin
(05:56) Ledger Ad
(06:42) New Wealth Coming to Bitcoin
(09:29) What’s Holding Back Institutions?
(19:15) Bitcoin Treasury Companies
(22:57) Ledger Ad
(23:43) Bitcoin Treasury Companies
(33:42) Merging Blockstream Tech with Institutions
 
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Bitcoin, Not Blockchain: Wall Street’s Big Flip

In this episode, Rizzo &amp; Nolan Bauerle dive into the race between MicroStrategy and BlackRock to become the largest holders of Bitcoin. They compare Michael Saylor’s singular, leveraged BTC accumulation strategy with Larry Fink’s sprawling ETF-driven approach at BlackRock. They explore how each firm’s structure, incentives, and regulatory realities impact their ability to scale Bitcoin ownership—and debate whether MicroStrategy could evolve into a Bitcoin-native version of BlackRock, or if BlackRock could out-stack Saylor’s empire. Enjoy!
—
Follow Nolan: https://x.com/countbtc
Follow Rizzo: https://x.com/pete_rizzo_
Follow Supply Shock: https://twitter.com/SupplyShockBW
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv
 
—
Timestamps:
(00:00) Introduction
(01:54) Strategy vs BlackRock
(06:56) Key Differences
(13:22) Saylor’s History
(16:47) Regulatory Advantage
(21:38) Can BlackRock Become Strategy?
(31:00) Can BlackRock Become Strategy?
(32:20) BlackRock &amp; Global Markets
(36:28) Who Can Fully Embrace BTC?
(43:06) First to 1M BTC
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

MSTR vs BlackRock: Who Will Be The Bitcoin Superpower?

In this episode, Swedish MP Dennis Dioukarev discusses his viral proposal for Sweden to adopt a strategic Bitcoin reserve—an unprecedented move in the European Union. He breaks down the flawed logic of the Swedish Central Bank's dismissal, explains how Bitcoin aligns with values of freedom and transparency, and outlines the political path forward through Sweden’s governing coalition. Dennis also warns about the risks of CBDCs, defends individual financial sovereignty, and highlights the global race among governments quietly accumulating Bitcoin. Enjoy!
 
—
Follow Dennis: https://x.com/DennisDioukarev 
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
 
—
Timestamps:
(00:00) Introduction
(01:36) Sweden's Bitcoin Proposal
(06:46) Ledger Ad
(07:33) European Union's Stance on Bitcoin
(09:32) Swedish Politics &amp; Bitcoin Proposal
(18:08) Global Bitcoin Adoption
(20:40) Global Bitcoin Adoption
(22:42) Swedish Bitcoin Goals &amp; CBDCs
(27:17) The Digital Euro &amp; Stablecoins
(30:51) Local and National Bitcoin Initiatives
(32:12) Dennis’ Bitcoin Journey
(36:34) Future of Bitcoin &amp; Crypto
 
 
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Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about thinking about putting your money into these crazy markets.

Sweden’s Bitcoin Bombshell: Selling Gold, Buying Bitcoin? | Dennis Dioukarev

In this episode, Bitcoin Developer Sergio Lerner joins the show to discuss Bitcoin’s latest development battles–from the OP_RETURN data wars to the future of programmable Bitcoin through BitVMX. He argues that filtering Bitcoin transactions restricts innovation, outlines the real-world financial use cases enabled by protocols like RSK, and explains how new Bitcoin Layer 2s can enhance scalability and security without altering Bitcoin’s base layer. We also touch on Bitcoin’s long-term viability, mining centralization, and the cultural rift with broader crypto. Enjoy!
—
Follow Sergio: https://x.com/SDLerner
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv
—
Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi.
Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.
Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks
—
Timestamps:
(00:00) Introduction
(03:39) Debate on Data Use in Bitcoin Blockchain
(08:02) Technical Aspects of Bitcoin Transactions
(11:20) Core Ad
(12:12) Layer Two Solutions and BitVMX
(21:59) Core Development and Alternate Implementations
(30:28) Mining Centralization Concerns
(32:37) Core Ad
(33:32) Historical Bitcoin Debates
(34:15) Understanding OP_RETURN
(37:46) Cultural Divide in Crypto
(40:48) Financial Inclusion and Bitcoin
(47:33) Future of Bitcoin and Layer 2 Solutions
(56:51) Bitcoin's Long-Term Viability
(01:00:56) Final Thoughts
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Bitcoin’s Data Debate: Should the Blockchain Be Permissionless? | Sergio Lerner

In this episode, Ryan Selkis joins the show for his self-proclaimed 'last crypto interview' to discuss his whistleblowing about Mt. Gox’s insolvency, his role in securing Trump's support, and the controversy around him bringing the culture wars to crypto. We also delve into the FTX collapse, crypto vs. Bitcoin, and more.
—
Follow Ryan: https://x.com/twobitidiot
Follow Rizzo: https://x.com/pete_rizzo_
Follow Supply Shock: https://twitter.com/SupplyShockBW
Follow Blockworks: https://twitter.com/Blockworks_
Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv
—
Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi.
Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.
Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
—
Timestamps:
(00:00) Introduction
(02:34) Early Days in Bitcoin and Crypto
(03:46) The Mt. Gox Whistleblowing Incident
(04:43) Ads (Core, Ledger)
(06:12) Digital Currency Group &amp; Messari
(07:48) Political Climate and Crypto Regulation
(14:39) FTX Collapse and Policy Response
(18:57) Ads (Core, Ledger)
(20:35) Trump's Mar-a-Lago Event &amp; Crypto’s Political Divide
(25:11) Culture Wars and Political Tactics
(44:37) Support for Trump in the Crypto Industry
(46:14) Ethics and Scams in Crypto
(48:03) Bitcoin vs. Crypto
(57:29) The Core Problems in Crypto
(01:12:22) AI, Truth &amp; Justice
(01:18:42) Ryan’s Crypto Legacy
 
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Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please do your own research and speak to a financial advisor before putting your money into these crazy markets.

How Bitcoin Became Trump’s Weapon | Ryan Selkis

In this episode, Chris Guida unpacks the OP_RETURN debate, argues that Bitcoin must protect its cultural values to survive, and warns that without strong norms, Bitcoin risks becoming Ethereum 2.0. He challenges the idea that Bitcoin is truly permissionless, critiques miner incentives, and defends filtering policies as vital to preserving decentralization.
 
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Follow Chris: https://x.com/cguida6 
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Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Timestamps:
(00:00) Introduction
(01:44) Debate Overview and Context
(02:34) The OP_RETURN Debate
(05:34) Ethereum Rollup and Fraud Proofs
(11:20) Bitcoin's Permissionless Nature
(14:10) Core Ad
(14:55) Bitcoin's Permissionless Nature
(21:28) Miners and Network Consensus
(35:11) Core Ad
(35:59) Economic Incentives and Bitcoin's Future
(42:18) The Role of Decentralization in Bitcoin's Value
(44:04) Bitcoin's Value System vs. Ethereum's Downfall
(45:28) The Impact of Scammers on Bitcoin and Ethereum
(50:14) The Importance of Self-Custody and Integrity in Bitcoin
(55:57) The Debate on Bitcoin's Filters and Transaction Validity
(01:03:30) The Future of Bitcoin and Crypto Innovations
(01:16:56) Debunking Misconceptions About Spam Control
(01:18:10) Moral Arguments and Their Impact on Bitcoin
(01:20:08) The Role of Node Runners in Spam Filtering
(01:22:41) Debate on Bitcoin Core's Policy and Developer Responsibility
(01:24:01) The Future of Bitcoin and Node Implementations
(01:29:49) Comparing Bitcoin Core and Knots
(01:40:41) The Arms Race in Spam Filtering
(01:45:21) Final Thoughts and Reflections
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Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about thinking about putting your money into these crazy markets.

Bitcoin’s Last Stand: The OP_RETURN Invasion | Chris Guida

In this episode, cryptography legend Phil Zimmermann—creator of PGP—reflects on his role in the original “crypto wars,” the mixed societal impact of Bitcoin, and why he’s both intrigued by and cautious about Bitcoin’s role in human rights, crime, privacy, and global monetary systems. He applauds Bitcoin’s resistance to autocracy and surveillance but critiques its volatility, energy use, and criminal applications—offering a nuanced view of its legacy compared to PGP. Enjoy!
 
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Follow Phil: https://philzimmermann.com/EN/background/index.html 
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Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
 
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Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. 
Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.
Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks
 
 
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
 
—
Timestamps:
(00:00) Introduction
(02:45) PGP &amp; Strong Cryptography
(07:36) Digital Cash Breakthrough
(09:20) Mixed Effects of Technology
(13:03) Ads (Core, Ledger)
(14:27) Bitcoin’s Mixed Effects
(17:47) Proof-of-Work &amp; Early Innovations
(23:06) Patents &amp; Bitcoin
(25:34) Bitcoin’s Good vs Bad
(28:43) Criminals &amp; Crypto
(31:26) Improving Bitcoin
(35:34) Ads (Core, Ledger)
(37:00) Improving Bitcoin
(39:49) Bitcoin vs Fiat
(43:56) Bitcoin Consensus
(47:31) Building Support via Courts vs Politics
(51:34) Laws Against Software
(53:39) Bitcoin Shortcomings
(55:49) Privacy &amp; PGP
(59:40) Bitcoin Energy Use
(01:03:58) Is Bitcoin as Successful as PGP
(01:05:26) Autocracies &amp; Democracy
(01:13:07) Bitcoin as a Pocketbook Issue
 
 
—
Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

PGP Creator: Bitcoin Is Not the Revolution You Think | Phil Zimmermann

In this episode, Guy Malone and Adam Simecka join the show to discuss Roswell, New Mexico starting a strategic Bitcoin reserve, Bitcoin’s role in local governance, and how Roswell is approaching its Bitcoin custody. We also delve into building the new Fort Knox, Adam’s history in Bitcoin, and more. Enjoy!
 
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Follow Guy: https://x.com/RichNFrenz 
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. 
Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.
Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks
 
 
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
 
—
Timestamps:
(00:00) Introduction
(02:14) Roswell Embraces Bitcoin Reserve
(08:42) Legal and Practical Challenges
(10:33) Ads (Core, Ledger)
(11:57) Legal and Practical Challenges
(14:50) Inspiration for Bitcoin Donation
(18:17) Building off of Roswell’s Bitcoin Reserve
(20:09) Understanding Permissionless Donations
(21:56) Ads (Core, Ledger)
(23:22) Bitcoin's Role in Local Governance
(25:43) Strategic Bitcoin Reserves and Property Taxes
(30:19) Future of Bitcoin in Government
(32:15) Adam’s Intro to Bitcoin
(34:12) Roswell’s Bitcoin Custody &amp; Security
(38:06) The New Fort Knox
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Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

BITCOIN CITY: The Untold Story Behind Roswell's Historic Reserve | Guy Malone & Adam Simecka

In this episode, Rob Hamilton of Anchorwatch joins the show to discuss his company serving Bitcoin insurance to individuals and businesses, the corporate adoption narrative dominating this cycle, and the insurance and custody challenges for corporations holding Bitcoin. We also delve into shifting culture and values in crypto, whether the financialization of Bitcoin is a good thing, mapping the Bitcoin cycle top, and more. Enjoy! —Follow Rob: https://x.com/Rob1Ham Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock —Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv —Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks —Timestamps:(00:00) Introduction(01:43) AnchorWatch Bitcoin Insurance(07:57) Multi-Signature Custody(11:46) Blockchain Insurance(13:48) Core Ad(14:34) Bitcoin Repayments &amp; FASB(19:18) Corporate Bitcoin Adoption &amp; Insurance(24:53) Insuring All Bitcoin(26:25) The Corporate Adoption Narrative(33:55) Shifting Values &amp; Culture In Crypto(35:22) Core Ad(36:10) Shifting Values &amp; Culture In Crypto(42:42) Stablecoins(44:43) Nation State Narrative(46:43) Is Corporate Adoption Good?(54:27) Bitcoin Financialization(58:48) Bitcoin Cycle Top? —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Can You Insure Your Bitcoin? | Rob Hamilton

In this episode, Hunter Beast joins the show to discuss the quantum threat to Bitcoin, his BIP-360 proposal to address the existential problem, and the spectrum of Bitcoiners that are more or less vulnerable. We also delve into balancing Bitcoin rights and principles with crucial updates, the development process getting BIP-360 implemented before Q-Day, and more. Enjoy!
 
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Follow Hunter: https://x.com/cryptoquick 
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Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx 
Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock 
 
—
Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv 
 
—
Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. 
Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.
Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks
 
 
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.
 
—
Timestamps:
(00:00) Introduction
(01:35) The Quantum Threat to Bitcoin
(05:33) Pre vs Post-Quantum Cryptography
(10:25) The Big Threat of Quantum
(12:17) Ads (Core, Ledger)
(13:42) BIP-360
(20:06) Spectrum of Vulnerability
(27:32) Q-Day Emergency
(30:52) Quantum Recovery Proposals
(34:03) Ads (Core, Ledger)
(35:30) Quantum Recovery Proposals (Cont'd)
(37:34) Securing Bitcoin Property Rights
(43:20) Sometimes Bitcoin Needs to Change
(45:18) Balancing Crucial Updates with Core Principles
(53:00) Bitcoin’s Social Contract &amp; Soft Forks
(57:11) BIP-360 &amp; the Bitcoin Development Process
(01:07:41) Learn More About Hunter
 
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Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Quantum Computing: How Safe Is Your Bitcoin? | Hunter Beast

This week, Rizzo and Nolan discuss Cantor, SoftBank, Tether and Jack Mallers teaming up to create a competitor to Strategy and the vision for their new company Twenty One. We also delve into the shifting focus in Bitcoin from Main Street to Wall Street, the narrative dominating this cycle, and more. Enjoy!—Follow Nolan: https://x.com/countbtcFollow Michael: https://x.com/mpmcsweeneyFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv—Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi.Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets.Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.—Timestamps:(00:00) Introduction(01:42) Cantor Joins SoftBank &amp; Tether(05:58) Competing With Strategy(09:13) Company Details(12:47) Masayoshi Son(15:35) Ads (Core, Ledger)(17:00) Twenty One’s Plan &amp; Vision(26:04) Superior Vehicle To MSTR?(33:56) Ads (Core, Ledger)(35:23) Wall Street Over Main Street?(44:55) The New Cycle Narrative(51:29) Final Thoughts—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Bitcoin Treasury War: Mallers vs. Saylor

In this episode, James O'Beirne joins the show to discuss the core theoretical and developer problems Bitcoin needs to address, the evolving vision for Bitcoin, and how the modern day crypto ecosystem grew from Bitcoin limitations and experimentation. We also delve into the leadership problem in Bitcoin, the hostile approach to Bitcoin developers and upgrades, and more. Enjoy!—Follow James: https://x.com/jamesob Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock —Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv —Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: https://ignition.coredao.org/blockworksStake your Bitcoin with Core: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com.—Timestamps:(00:00) Introduction(01:32) Inside Bitcoin Development(06:39) Evolution of Bitcoin Development(11:41) Bitcoin Problem Solving(17:54) Ads (Core, Ledger)(19:08) Bitcoin Problem Solving(24:41) The Evolving Vision for Bitcoin(30:51) Bitcoin Experimentation &amp; the Crypto Ecosystem(40:09) Ads (Core, Ledger)(41:30) Bitcoin Leadership Problem(47:25) Attack Against Developers(53:06) Embracing Bitcoin’s Core Purpose(58:24) OP_CAT &amp; CTV/CSFS(01:03:34) Revisiting Bitcoin Block Size(01:08:15) How to Measure Bitcoin Success(01:12:35) Bitcoin Security(01:13:57) The Problem with the Problems(01:19:38) Join Us At Permissionless—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

What's the Problem With Bitcoin? | James O’Beirne

This week, we discuss China and Asia reevaluating their crypto policy, McDonald’s shareholders pushing for Bitcoin Treasury plans, and Trump &amp; El Salvador President Bukele meeting at the White House. We also delve into Trump’s newest crypto venture, and the Supreme Court ruling allowing Trump to fire head’s of independent agencies, and more. Enjoy!—Follow Nolan: <a href="https://x.com/countbtc">https://x.com/countbtc</a>Follow Michael: <a href="https://x.com/mpmcsweeney">https://x.com/mpmcsweeney</a>Follow Rizzo: <a href="https://x.com/pete_rizzo_">https://x.com/pete_rizzo_</a>Follow Supply Shock: <a href="https://twitter.com/SupplyShockBW">https://twitter.com/SupplyShockBW</a>Follow Blockworks: <a href="https://twitter.com/Blockworks_">https://twitter.com/Blockworks_</a>Join Supply Shock Telegram: <a href="https://t.me/+SpmLg6P_QcgxNDcx">https://t.me/+SpmLg6P_QcgxNDcx</a>Supply Shock Newsletter: <a href="https://blockworks.co/newsletter/supplyshock">https://blockworks.co/newsletter/supplyshock</a>—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! <a href="https://blockworks.co/event/permissionless-iv">https://blockworks.co/event/permissionless-iv</a>—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: <a href="https://ignition.coredao.org/blockworks">https://ignition.coredao.org/blockworks</a>Stake your Bitcoin with Core: <a href="https://stake.coredao.org/blockworks">https://stake.coredao.org/blockworks</a>—Timestamps:(00:00) Introduction(02:37) Evolving China &amp; Asia Crypto Policy(11:54) Should McDonald’s Buy Bitcoin?(16:07) Core Ad(16:42) Should McDonald’s Buy Bitcoin? (Con't)(21:47) Bukele &amp; Trump Meet(25:37) State Bitcoin Adoption(27:42) Bukele &amp; Trump Meet Pt.2(32:25) Core Ad(33:07) Trump’s New &amp; Past Crypto Ventures(42:56) Is the Trump Admin Good For Crypto?(47:58) Trump Taking Power Over Independent Agencies(57:44) Final Thoughts —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Jerome Powell's WORST Nightmare: TRUMP & BITCOIN?! | Weekly Roundup

In this episode, Grant McCarty of the Bitcoin Policy Institute joins the show to discuss his early political engagements and origins of BPI, challenges and opportunities around implementing crypto legislation, and the Strategic Bitcoin Reserve. We also delve into advancing Bitcoin as a debt instrument, the evolving political landscape, and more. Enjoy! —Follow Grant: https://x.com/grant_mccarty Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock —Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: https://ignition.coredao.org/blockworksStake your Bitcoin with Core: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at https://ledn.io/borrowing. —Timestamps:(00:00) Introduction(01:20) Founding the Bitcoin Policy Institute(03:43) Early Political Engagements(07:52) Strategic Bitcoin Reserve(13:05) Policy Implementation and Challenges(13:54) Ads (Core, Ledger, Ledn)(15:27) Policy Implementation and Challenges (Con't)(27:21) Ads (Core, Ledger, Ledn)(29:26) Broader Cryptocurrency Legislation(32:34) SBR &amp; Crypto Legislation(37:30) Bit Bonds &amp; Advancing Bitcoin Debt(45:54) The Political Landscape and Bitcoin(48:40) Reflections on Politics and Bitcoin Advocacy(51:26) Conclusion and Future Outlook —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The BPI's Plan To Make America A Bitcoin Nation | Grant McCarty

In this episode, inventor of blockchain Scott Stornetta joins the show to discuss developing the first digital timestamping system, the key innovations and limitations of Bitcoin’s design, and why Bitcoin has not yet succeeded as real money. We also delve into his critique of proof-of-work, his thoughts on other crypto projects like Ethereum, stablecoins, the importance of creating a digital identity system, and more. Enjoy!—Follow Scott: https://x.com/ScottStornettaFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:53) Discovering the Bitcoin White Paper(03:34) The Foundations of Digital Timestamping(07:00) The Evolution of Blockchain and Bitcoin(14:43) Ads (Core, Ledger, Ledn)(16:17) The Evolution of Blockchain and Bitcoin (Con't)(17:46) Challenges and Criticisms of Bitcoin(22:27) The Cypherpunks and Digital Cash(29:42) The Future of Blockchain Technology(39:16) Scaling Bitcoin(42:20) Bitcoin's Economic Value and Success(47:24) Ads (Core, Ledger, Ledn)(49:30) The Role of Stablecoins and Future Cryptocurrencies(01:06:43) Identity and Blockchain(01:14:43) Reflections on Blockchain's Impact and Future—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Inventor of Blockchain On the Future Of Bitcoin | Scott Stornetta

This week, we discuss whether we’re in a bull or bear market, Circle preparing for an IPO, and Fidelity giving the green light to crypto retirement investments. We also delve into GameStop buying Bitcoin, Eric Trump launching his American Bitcoin mining business, and more. Enjoy!—Follow Austin: https://x.com/KeepM3WeirdFollow Nolan: https://x.com/countbtcFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction (00:49) Bull vs Bear Market Debate (06:56) GameStop and Companies Buying Bitcoin (09:50) Bitcoin as a Store of Value (13:51) Space Adventures of Bitcoin Pioneers (14:10) Ads (Core, Ledger, Ledn) (15:43) Space Adventures of Bitcoin Pioneers (Con't) (21:07) Upcoming Circle IPO (24:21) Stablecoins Akin to the Printer? (27:41) Stablecoins &amp; Geopolitical Implications (35:09) Ads (Core, Ledger, Ledn) (37:14) Bitcoin in Retirement Accounts: A Bullish Move? (41:36) The De-Banking Phenomenon and Its Impact (48:26) The Future of Bitcoin Mining in the US (53:23) Final Thoughts—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Is The Bull Market Back?! | Weekly Roundup

In this episode, Bill Barhydt joins the show to discuss Michael Saylor saying he may burn the keys to his Bitcon before dying, crypto becoming a partisan issue with Trump’s embrace, and why the future of banking is decentralized. We also delve into why Ethereum has lost its way, Bitcoin vs the various L1s, and more. Enjoy!—Follow Bill: https://x.com/billbarXFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:35) Debating Michael Saylor's Bitcoin Strategy(09:16) Noble Goals of Bitcoin &amp; Decentralization(16:33) Ads (Core, Ledger, Ledn)(18:06) Using &amp; Passing Down Bitcoin Fortunes (Con't)(21:40) Bitcoin's Role in Government and Economy(30:20) Legislation and the Future of Banking(31:58) The Future of Decentralized Banking(34:45) Ads (Core, Ledger, Ledn)(36:50) Ethereum's Architectural Challenges(41:19) Bitcoin vs. Alternative L1s(53:49) The Future of Fiat and Digital Currencies(57:05) Market Predictions and Final Thoughts—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Burning Bitcoin: Michael Saylor's $1.5 BILLION Mistake | Bill Barhydt

In this episode, Bitaxe founder Skot joins the show to discuss the new wave of affordable Bitaxe miners, the permissionless nature of Bitcoin mining, and why proof-of-work is the ideal consensus mechanism. We also delve into the odds of mining a block, centralization in Bitcoin mining, and more. Enjoy!—Follow Skot: https://x.com/skot9000Follow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction to Supply Shock(02:59) Understanding Bitaxe and Its Impact(06:05) The Open Source Movement in Bitcoin Mining(10:52) Ads (Core, Ledger, Ledn)(12:25) The Open Source Movement in Bitcoin Mining (Con't)(13:16) Building and Buying Bitaxe Miners(20:19) The Future of Decentralized Bitcoin Mining(22:43) The Economics of Proof-of-Work(25:28) Ads (Core, Ledger, Ledn)(27:33) The Economics of Proof-of-Work (Con't)(31:44) Levels of Success for Bitaxe(34:51) Government Involvement in Bitcoin Mining(36:53) Challenges in Bitcoin Mining Pools(44:59) The Centralization of Chip Manufacturing(48:55) Identifying Bitcoin Miners on the Blockchain(56:28) The Future of Bitcoin Mining —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

How To Win The Bitcoin Lottery | BitAxe Creator Skot

In this episode, Trace Mayer joins the show to discuss monetary sovereignty and the fourth turning, the government acquiring Bitcoin as a strategic reserve, and US-China economic warfare. We also delve into the historical perspective on digital currencies, early Bitcoiner’s navigating their immense wealth, and more. Enjoy!—Follow Trace: https://x.com/TraceMayerFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:17) Early Bitcoin Advocacy and Libertarian Roots(03:44) Monetary Sovereignty &amp; the Fourth Turning(09:04) Ads (Core, Ledger, Ledn)(10:37) Bitcoin as a Strategic Reserve(14:20) Geopolitical Implications of Bitcoin(19:22) U.S. and China Economic Warfare(24:06) Stablecoins &amp; Global Financial Power(25:54) Ads (Core, Ledger, Ledn)(28:00) Technological Evolution in Bitcoin(29:48) The Changing Nature of Warfare(31:25) Bitcoin &amp; Money Optionality(34:04) Historical Perspectives on Digital Currency(39:44) The Future of Bitcoin and Bitcoin Wealth(48:04) Responsibilities of Bitcoin Wealth Holders(51:00) The Fight for Freedom and Liberty—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Bitcoin Empire: America's New Financial War | Trace Mayer

In this episode, Cory Klippsten joins the show to discuss the inner workings of the crypto scamblings, the difference between Swan and other crypto exchanges, and the political shifts in Washington. We also delve into the future of Coinbase and VCs, stablecoins, debanking, and more. Enjoy! —Follow Cory: https://x.com/coryklippsten Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/ —Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. —Timestamps:(00:00) Introduction(01:57) State of Bitcoin and Crypto Today(07:21) The Inner Workings of Crypto Pump and Dumps(10:40) Ads (Core, Ledger, Ledn)(12:14) Corey's Journey from VC to Bitcoin(17:51) Swan Bitcoin vs. Crypto Exchanges(20:39) Future of Coinbase and Crypto VCs(24:03) Bitcoin Movement and Political Shifts(29:01) Ads (Core, Ledger, Ledn)(31:07) Stablecoins and Government Involvement(33:41) Debanking and Chokepoint 2.0(36:20) Washington &amp; Bitcoin's Strategic Position(44:49) Bitcoin's Integration and Adoption(48:17) Closing Thoughts and Future Prospects —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Crypto Casino is RIGGED! | Cory Klippsten

In this episode, Michael Saylor joins the show to discuss the growing government embrace of Bitcoin, building support for the strategic Bitcoin reserve, and unlocking the multi-trillion-dollar digital token economy. We also delve into Bitcoin as the future of capital, why Bitcoin is for everyone, and more. Enjoy!—Follow Michael: https://x.com/saylorFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(00:54) Historic Moment in Bitcoin(04:03) Strategic Bitcoin Reserve(05:49) Ads (Core, Ledger, Ledn)(07:23) Strategic Bitcoin Reserve (Con't)(08:17) Bitcoin as the Future of Capital(12:38) Bitcoin is for Everyone(19:52) Digital Tokens and Securities(25:29) Final Thoughts —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

We Have A BITCOIN PRESIDENT In The White House | Michael Saylor

This week, we discuss increasing political engagement and legislative activity around crypto, the budget-neutral push to buy Bitcoin at the state and federal level, and the narratives driving the crypto industry. We also delve into corporate adoption of Bitcoin, whether Bitcoin is officially mainstream, and more. Enjoy!—Follow Casey: https://x.com/caseywagnerrFollow Ben: https://x.com/strack_benFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:00) Political Engagement &amp; Legislation in Crypto(08:58) Institutional Embrace of Blockchain &amp; Digital Assets(10:24) Ads (Core, Ledger, Ledn)(11:57) Institutional Embrace of Blockchain &amp; Digital Assets (Con't)(13:29) Crypto ETFs and Financial Products(17:58) Bitcoin vs. Crypto: Industry Narratives(22:38) Ads (Core, Ledger, Ledn)(24:43) Crypto Exchanges &amp; IPOs(29:01) Tokenization and Money Market Funds(30:06) Impact of Macroeconomic Factors on Crypto(33:33) Corporate Adoption of Bitcoin(35:57) Is Bitcoin Mainstream Now?(40:05) Final Thoughts —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Crypto Wars: Republicans & Democrats FIGHT Over Bitcoin & Stablecoins | Weekly Roundup LIVE @ DAS

In this episode, Jeremy Rubin joins the show to discuss the Bitcoin roadmap he’s endorsing, the value of adding new functionalities to the Bitcoin network, and the relevance of technical consensus for Bitcoin. We also delve into the Segwit and Taproot upgrades, Jeremy’s vision for Bitcoin improvements, and more. Enjoy!—Follow Jeremy: https://x.com/JeremyRubinFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.co/Kh8aZKlcqOThe Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:00:00 Introduction00:58 Jeremy Rubin's Bitcoin Upgrade Proposal04:46 The Evolution and Challenges of Bitcoin07:54 Bitcoin vs. Other Cryptocurrencies14:13 Ads (Core, Ledger, Ledn)15:47 Bitcoin vs. Other Cryptocurrencies18:35 Bitcoin Core Community &amp; Upgrades28:50 Ads (Core, Ledger, Ledn)30:55 Technical Consensus38:54 The Evolution of Bitcoin Development45:06 The Future of Bitcoin Upgrades —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

CTV/CSFS: Is THIS Bitcoin's Next UPGRADE? | Jeremy Rubin

This week, we discuss lawmakers reintroducing the Bitcoin Act, takeaways from the White House crypto summit, and what Russia’s crypto proposal suggests about Bitcoin sovereign game theory. We also delve into a single Bitaxe mining a block, why proof-of-work consensus is so important, and more. Enjoy!—Follow Nolan: https://x.com/countbtcFollow Michael: https://x.com/mpmcsweeneyFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxThe Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:12) Biggest Bitcoin Headlines(04:01) Greenland's Political Shift(06:31) Michael Saylor's Manifest Destiny(11:29) White House Crypto Summit(14:27) Ads (Core, Ledger, Ledn)(16:00) White House Crypto Summit (Con't)(22:35) Russia's Bitcoin Regulation(26:15) Ads (Core, Ledger, Ledn)(28:22) BRICS &amp; Bitcoin Game Theory(42:37) Bitaxe Miner &amp; Value of Proof-of-Work(53:40) Final Thoughts and DAS 2025—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

TRUMP VS. PUTIN: THE BITCOIN COLD WAR IGNITES! | Weekly Roundup

In this episode, Dan Held joins the show to discuss bringing crypto innovations into Bitcoin DeFi, metaprotocols like Bitcoin ordinals, and the future of Bitcoin fees and security. We also delve into the outlook for Bitcoin asset listings, Bitcoin updates and soft forks, and more. Enjoy!—Follow Dan Held: https://x.com/danheldFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: https://ignition.coredao.org/?utm_source=blockworks&amp;utm_medium=podcast&amp;utm_campaign=blockworksStake your Bitcoin with Core: https://stake.coredao.org/?utm_source=blockworks&amp;utm_medium=podcast&amp;utm_campaign=blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.— Timestamps:(00:00) Introduction(02:05) Bitcoin &amp; DeFi Opportunities(11:58) Ads (Core, Ledger, Ledn)(13:31) The Role of Speculation in Bitcoin Adoption(18:12) Ordinals and NFTs on Bitcoin(20:54) User Experience and Bitcoin's Competitiveness(25:57) Price Sensitivity and Transaction Costs(28:30) Ads (Core, Ledger, Ledn)(30:36) Price Sensitivity and Transaction Costs (Con't)(32:39) The Future of NFTs and Bitcoin Tokens(35:11) Exploring Bitcoin Layer 2 Solutions(40:22) The Debate on Bitcoin's Game Theory(53:28) The Case for Bitcoin DeFi(56:57) Is the Super Cycle Here? —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

A Bitcoin Bull Run Is Coming | Dan Held

This week, we discuss whether crypto assets other than Bitcoin should be in a US reserve, the meaningful differences between Bitcoin and other crypto assets, and the opportunity Trump has to transition America away from a broken system. We also delve into the IMF attacking El Salvador’s Bitcoin policies, the differences between Fartcoin and Bitcoin, and much more. Enjoy!—Follow Nolan: https://x.com/countbtcFollow Michael: https://x.com/mpmcsweeneyFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.— Timestamps:(00:00) Introduction(03:08) Should the US Own Crypto Other Than BTC?(11:42) Ads (Core, Ledger, Ledn)(13:15) Should the US Own Crypto Other Than BTC? (Con't)(22:33) The US Bitcoin Opportunity(30:43) Ads (Core, Ledger, Ledn)(32:48) El Salvador's Bitcoin Battle with the IMF(38:03) IMF Concerns and El Salvador's Bitcoin Strategy(46:28) Meaningful Differences Between Bitcoin &amp; Everything Else —Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Trump's Crypto Stockpile Plan: Genius or Disaster? | Weekly Roundup

In this episode, Dennis Porter of Satoshi Action Fund joins the show to discuss Trump's crypto reserve announcement, the states fighting to become the first to buy Bitcoin, and the legislative goals of the Trump Administration. We also delve into the bipartisan support of crypto legislation, the importance of Bitcoin rights, and much more. Enjoy!—Follow Dennis: https://x.com/Dennis_Porter_Follow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: <a href="http://ignition.coredao.org/blockworks">ignition.coredao.org/blockworks</a>Stake your Bitcoin with Core: <a href="http://stake.coredao.org/blockworks">stake.coredao.org/blockworks</a> Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:47) Trump’s Crypto Reserve Announcement(12:38) Ads (Core, Ledger, Ledn)(14:11) The Case Against ADA, XRP, &amp; SOL(18:38) State-Level Bitcoin Legislation(29:01) Lawmakers' Evolving Understanding of Bitcoin(32:03) Ads (Core, Ledger, Ledn)(36:19) Bipartisanship and Democrat Party Restructuring(46:54) Stablecoin Legislation and Market Structure(51:24) Importance of Bitcoin Rights(56:14) Final Thoughts—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Trump vs Utah: The First To Buy Bitcoin | Dennis Porter

In the first official episode of Supply Shock, Jameson Lopp joins the show to explain why Jack Dorsey is NOT Satoshi, threat vectors for Bitcoiners, and security prevention strategies to protect yourself. We also delve into attacker stories, how Jameson protects his own financial and physical security, and more. Enjoy!—Follow Jameson Lopp: https://x.com/loppFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: <a href="http://ignition.coredao.org/blockworks">ignition.coredao.org/blockworks</a>Stake your Bitcoin with Core: <a href="http://stake.coredao.org/blockworks">stake.coredao.org/blockworks</a> Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:01) Is Jack Dorsey Satoshi Nakamoto?(05:50) Debunking the Jack-Satoshi Theory(13:04) Ads (Core, Ledger, Ledn)(14:38) Debunking the Jack-Satoshi Theory (Con't)(31:00) The Threat Vectors for Bitcoiners(31:39) Ads (Core, Ledger, Ledn)(33:44) The Threat Vectors for Bitcoiners (Con't)(37:04) Mitigating Security Risks(49:19) Rapid Fire Questions—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Truth About Jack Dorsey & Satoshi Nakamoto | Jameson Lopp

A new chapter starts today. On the Margin is becoming a new show: Supply Shock, covering all things Bitcoin. Felix is back in the host seat for one last episode, passing the baton to Supply Shock's new host, Pete Rizzo AKA the Bitcoin Historian. They discuss Rizzo's deep lore, sovereign adoption of Bitcoin, and the state of Bitcoin innovation. They also delve into the rise of meme coins, the industry’s future, and more. Enjoy and check out the first full episode of Supply Shock with Jameson Lopp - it's already in the feed! —Follow Rizzo: https://x.com/pete_rizzo_Follow Felix: https://x.com/fejau_incFollow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/—Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: <a href="http://ignition.coredao.org/blockworks">ignition.coredao.org/blockworks</a>Stake your Bitcoin with Core: <a href="http://stake.coredao.org/blockworks">stake.coredao.org/blockworks</a> Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:04) New Show &amp; New Host: Pete Rizzo(04:19) Bitcoin's Historical Significance(07:16) Sovereign Adoption and Bitcoin's Global Impact(13:17) Ads (Core, Ledger, Ledn)(14:49) Sovereign Adoption and Bitcoin's Global Impact (Con't)(25:56) Ads (Core, Ledger, Ledn)(28:02) Innovations and Challenges in Bitcoin(33:40) The Future of Bitcoin and Crypto—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Introducing: Supply Shock with The Bitcoin Historian

This week, we discuss crypto's liquidation event over the weekend and how to trade the upcoming week. We deep dive into the weak performance of altcoins, Bitcoin's role in a multipolar world, shorting in this market environment &amp; more. Enjoy!--Go follow the new 1000x feed to keep up to date with all new episodes! Spotify: https://blckwrks.co/3WADHnL Apple: https://blckwrks.co/4aEt5u0--Follow Avi: https://twitter.com/AviFelmanFollow Jonah: https://twitter.com/jvb_xyzFollow 1000x: https://twitter.com/1000xPodJoin the 1000x Telegram: https://t.me/+fz-2f0cwC6o0MWNh--Kraken OTC unlocks premium, personalized services for high-net worth individuals and institutional clients to execute large orders. Trade over chat or access our self-service automated trading feature to receive executable quotes in seconds. Get 24/7 access to private and secure trading services and deep liquidity for competitive execution. Get in touch today: kraken.com/blockworks Availability of products may vary by jurisdiction. Not investment advice. Crypto trading involves risk of loss and is offered to US customers (excluding WA, NY and ME) through Payward Interactive, Inc.--Ledger, the world leader in digital asset security, proudly sponsors Empire podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now at Ledger.com--Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--(00:00) Introduction(00:57) Carnage In Crypto(04:21) Shorting This Market(13:57) Ads (Kraken OTC and Ledger)(15:00) When To Buy This Market?(19:29) WIF(23:48) Privacy Coins(27:26) What's Next For Markets?(39:05) Ads (Kraken OTC and Ledger)(40:44) Bitcoin In A Multipolar World(50:16) The AI Trade--Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed

On the Margin: Trading Crypto's Weekend Meltdown | 1000x

In this episode, Austin Campbell joins the show to discuss stablecoin regulation under the Trump administration, the impact of Trump's executive orders on the crypto ecosystem, and the case against a strategic bitcoin reserve. We also delve into the potential for a more cooperative regulatory environment, global adoption of stablecoins, and much more. Enjoy!—Follow Austin Campbell: https://x.com/CampbellJAustinFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Timestamps:00:00 Introduction00:35 Stablecoin Regulation Updates Post-Election03:27 Congressional Bills and Bipartisan Efforts06:29 Executive Orders and David Sacks’ Role14:42 SEC vs. CFTC: Regulatory Shifts19:24 Global Adoption and Future of Stablecoins26:20 Debate on Strategic Bitcoin Reserve35:52 Bitcoin's Role and Future Projections40:58 Closing Thoughts—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Future Of Crypto & Stablecoins Under Trump | Austin Campbell

In this episode, Lyn Alden joins the show to discuss the economic tensions from fiscal dominance, the major factors driving liquidity, and what to expect under the Trump presidency. We also delve into the dollar wrecking ball, the outlook for Bitcoin, and much more. Enjoy!—Follow Lyn Alden: https://x.com/LynAldenContactFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(00:31) Global Macro Outlook(02:31) Liquidity Conditions(08:44) Shifting Treasury Issuance(12:04) Ads (Ledger, Mantra)(13:11) Tensions Under Fiscal Dominance(18:32) Trump Fiscal Outlook(22:44) Cutting Rates To Zero(27:38) Energy Outlook(32:04) Ads (Ledger, Mantra)(33:36) Interview Continues(35:45) Trump Vs Reagan Approach(37:41) Dollar Wrecking Ball(42:45) Currency Negotiations(45:39) Bitcoin Big Picture(50:00) Gold Outlook(52:18) Bitcoin Outlook(54:31) Learn More About Lyn’s Work—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Fed’s Tools Aren’t Made For Fiscal Dominance | Lyn Alden

In this episode, James Seyffart joins the show to discuss the wild success of crypto ETFs, how allocators and holders are thinking about crypto ETFs, and all the future ETF filings in the pipeline. We also delve into the impact of ETF options on the crypto market, the ETF gap risk, and much more. Enjoy!—Follow James Seyffart: https://x.com/JSeyffFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/— Timestamps:(00:00) Introduction(02:24) Bitcoin ETF Anniversary(06:29) Evolving Allocator Perspective(10:50) Largest ETF Buyers(14:40) BTC Spot-Futures Arbitrage(16:46) ETH ETFs(19:58) Ethereum Narrative Problem(21:13) New ETF Filings(26:16) Ads(27:50) Impact Of Options On Crypto(30:52) Crypto Narratives To Drive Demand(33:29) Potential Altcoin ETF Filings(38:38) ETF Gap Risk(41:12) Basket ETFs(46:17) 2025 Outlook(49:48) DAS 2025 —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: 2025's Crypto ETF Pipeline | James Seyffart

In this episode, Joe McCann joins the show to discuss why he’s tactically bearish, the US dollar’s implications for risk assets, and his crypto shopping list. We also delve into bottom signals, the outlook for 2025, and much more. Enjoy!—Follow Joe McCann: https://x.com/joemccannFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(01:12) Macro &amp; Crypto Overview(09:19) Implications Of Hawkish Fed(12:54) Inauguration &amp; The US Dollar(18:01) Ads(19:35) Crypto Market Outlook(23:34) Strategic Bitcoin Reserve(26:30) Crypto Shopping List(31:56) Bottom Signals(35:47) 2025 Outlook —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: FLASH UPDATE: The Dollar Rally Isn’t Over — What It Means For Risk Assets | Joe McCann

In this episode, Travis Kling joins the show to discuss financial nihilism, the logistics of a Bitcoin strategic reserve, and the potential impact of the incoming administration. We also delve into the crypto market outlook, product market fit across the industry, and much more. Enjoy!—Follow Travis Kling: https://x.com/Travis_KlingFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Timestamps:(00:00) Introduction(01:32) Macro Outlook(06:26) Philosophical Vibe Shift(11:51) Financial Nihilism(15:52) Unpacking The Next Administration(19:24) Misaligned Incentives(22:35) Ads(23:59) Bitcoin Strategic Reserve(36:51) BSR &amp; The US Dollar(45:42) Crypto Market Outlook(48:40) Crypto Product Market Fit(53:53) Fundamentals Bearish?(55:42) Learn More About Travis’ Work—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Debating The Impact Of A Bitcoin Strategic Reserve | Travis Kling

In this special crossover episode with Forward Guidance, Joseph Wang joins the show to discuss the latest Fed decision, its December economic projections, and what to expect from markets going into 2025. We also delve into why he expects way more than two rate cuts next year, why he’s bearish on US equities in 2025, and much more. Enjoy!__Follow Joseph Wang: https://x.com/FedGuy12Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(02:26) Hawkish FOMC Conference(06:03) Immigration Impact(09:32) 2025 Surprises(12:16) Trump, Trade, &amp; Tariffs(14:43) What Is The Fed Thinking?(20:07) Peak Hawkishness(21:41) Long-Term Rates(23:07) SEP As A Psychological Tool(25:16) Ads(26:41) Fed Surveys &amp; Politics(28:29) The Neutral Rate(30:27) How The Fed Gauges Restrictiveness(32:11) Reverse Repo(37:52) Treasury Coupon Issuance(39:38) Equities &amp; The Dollar(43:15) Gold &amp; Crypto(45:07) Long Bonds, Commodities, &amp; Inflation(49:42) Main Takeaways—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: This Is Peak Hawkishness From The Fed | Joseph Wang

In this episode, Richard Byworth joins the show to discuss MicroStrategy’s convertible bond strategy, the biggest MicroStrategy misconceptions, and why he thinks the premium to NAV should expand over time. We also delve into MicroStrategy's concept of Bitcoin Yield, the risks and opportunities of Saylor’s strategy, and much more. Enjoy!—Follow Richard Byworth: https://x.com/RichardByworthFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Timestamps:(00:00) Introduction(01:50) Richard Byworth And Convertible Bonds(09:45) MicroStrategy’s Convertible Bond Strategy(15:28) Accretive Dilution &amp; The Value Of A Convertible Bond(21:13) Breaking Down The Convertible Bond Trade(27:07) Ads(28:42) Risks &amp; Opportunities In MicroStrategy’s Strategy(36:55) Bitcoin Yield &amp; Bitcoin Per Share(38:28) Leveraged Upside And Downside(42:47) MicroStrategy Index Inclusion(44:06) Biggest MicroStrategy Misconceptions(49:09) Impact Of Levered MSTR ETFs(51:52) The Changing Market Paradigm —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Convertible Bond Expert Breaks Down Why MicroStrategy Is Soaring | Richard Byworth

In this episode, Raoul Pal joins the show to discuss the new revolutionary economic regime, how AI is driving the economic singularity, and the younger generation’s changing perception of markets. We also delve into geopolitics, the banana zone, and much more. Enjoy!—Follow Raoul Pal: https://x.com/RaoulGMIFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_Join Real Vision and learn more from Raoul here: http://realvision.com/join—Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Timestamps:(00:00) Introduction(01:19) Regime Shift(05:55) Labor Vs Debt(10:53) Setup For The New Conflict(14:19) Rethinking Business Cycles(16:42) No More Cowbell?(19:55) Scott Bessent(23:16) Geopolitics(29:27) Ads(30:43) Inflation Trend(34:15) Finding Treasury Buyers(36:42) Cynicism Vs Optimism(38:28) Macro-Crypto Intersection(45:46) Crypto's Addressable Market(49:52) Changing Perception Of Markets(54:53) The Banana Zone—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Everything Code: Debt, Demographics, And The Infinite Human Future | Raoul Pal

In this episode, Michael Millerman joins the show to discuss Peter Thiel’s philosophical framework, the Straussian Moment, and the post-liberalism era. We also delve into Bitcoin’s role in a multipolar world, the great awakening, and much more. Enjoy!—Follo Michael Millerman: https://x.com/M_MillermanFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Timestamps:(00:00) Introduction(01:47) Incorporating Political Philosophy Into Investing(03:44) Michael's Background(05:06) Peter Thiel &amp; The Straussian Moment(11:00) The Friend-Enemy Distinction(19:39) The Vulgar Vs The Wise(23:08) The Post-Liberalism Era(26:27) Ads(28:18) Interview Continues(37:32) Multipolarity &amp; Decentralization(41:58) The Fourth Political Theory(46:16) Looking Where Others Are Not(49:48) The Great Awakening(55:01) Learn More About Michael's Work—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Are You Ready For The 1st Turning? | Michael Millerman

In this episode, Jeff Park joins the show to discuss how the new Bitcoin ETF options will impact the market, what the options trading is already telling us, and whether a gamma squeeze is likely. We also delve into the arbitrage opportunities for retail traders, how to follow the new market landscape, and much more. Enjoy!—Follow Jeff Park: https://x.com/dgt10011Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-startedLedger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!https://blockworks.co/event/digital-asset-summit-2025-new-york—Timestamps:(00:00) Introduction(01:50) Bitcoin ETF Options Expectations(06:14) Bitcoin's Volatility Skew(10:52) Bitcoin's Unique Supply Dynamics(14:22) Corporates Rewarded For Having Bitcoin(16:02) Biggest Options Trading Takeaways(27:30) Ads(29:20) Interview Continues(31:26) Implications On Dealers &amp; Gamma(37:18) Impact Of Synthetic Bitcoin Through Derivatives(41:56) How Options Will Impact Market Structure(45:16) Following The New Options Landscape(48:52) The New Risk Model(52:35) Retail Opportunities—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Everything You Need To Know About The New Bitcoin ETF Options | Jeff Park

In this episode, Josh Solesbury joins the show to discuss the bitcoin mining landscape, the ongoing transition to AI/HPC, and the future of the industry. We also delve into industry bottlenecks, the risks of transitioning to AI, and much more. Enjoy!—Follow Josh Solesbury: https://x.com/joshsolesburyFollow Quinn: https://x.com/qthompFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(02:32) Josh's Background(03:52) Overview Of The Bitcoin Mining Landscape(10:44) Bitcoin Mining Cyclicality(12:55) Industry Consolidation(16:18) Differentiating Miners(22:39) Miner Transition To AI/HPC(36:44) Ads(38:53) Miner Transition To AI/HPC (Continued)(42:09) Chips &amp; Bottlenecks(49:18) Why Don't Miners Abandon Bitcoin For AI?(59:18) CoreWeave &amp; Core Scientific(01:04:30) Risks To Transition To AI/HPC(01:07:55) The Future Of The Mining Industry —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Why Bitcoin Miners Are Pivoting To AI Data Centers | Josh Solesbury

In this episode, Dylan LeClair joins the show to discuss MicroStrategy’s Bitcoin strategy, the insane performance of its convertible notes, and its $42 billion capital plan. We also discuss how to value MicroStrategy, the company’s liquidation risk, how other companies can replicate its strategy, and much more. Enjoy!—Follow Dylan LeClair: https://x.com/DylanLeClair_Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Key Features:Built using Cosmos SDK, IBC compatible, with CosmWasm supportedSecured via a sovereign PoS validator setScalable up to 10k TPSBuilt-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAsImproved User Experience to onboard non-native users and institutions to Web3—Timestamps:(00:00) Introduction(03:19) MicroStrategy’s Bitcoin Strategy(09:41) Who Is Buying MicroStrategy?(14:24) How To Value MicroStrategy(16:02) FASB Regulation Change(19:05) MicroStrategy’s Dilution &amp; NAV Premium(21:49) MicroStrategy’s Convertible Notes(24:14) MicroStrategy’s $42 Billion Capital Plan(27:14) Why Is This Strategy Accretive to Shareholders?(30:48) Advertisements(32:45) Impact Of The Capital Plan(36:11) MicroStrategy Risks(44:07) Replicating MicroStrategy’s Strategy(49:09) Crypto Market Outlook —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: What People Get Wrong About MicroStrategy’s Bitcoin Plan | Dylan LeClair

In this episode, Matt Hougan joins the show to discuss BTC vs ETH ETF flows, the biggest ETF misconceptions, and the importance of regulatory clarity. We also delve into the value of incorporating BTC in a portfolio, future crypto ETF strategies, and much more. Enjoy!—Follow Matt Hougan: https://x.com/Matt_HouganFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(01:51) BTC vs ETH ETFs(03:18) Success of BTC ETFs(04:28) Marginal Buyers of Crypto ETFs(06:49) Lackluster ETH ETF Flows(08:45) Surprise ETH ETF Approval(09:56) Value Proposition of Ethereum(12:41) Sacrificing ETH Utility in ETF Wrapper(13:55) Crypto ETF Options(18:38) The Future of Crypto ETFs(21:51) Bitwise Filing Process(23:27) Biggest ETF Misconceptions(26:17) Advertisements(27:32) Compliance Process(29:43) Election &amp; Regulation(33:18) Regulatory Clarity(36:03) Incorporating Bitcoin Into A Portfolio(40:00) Gold vs BTC(42:10) Crypto Market Forecasts(44:29) Learn More About Matt &amp; Bitwise —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The BTC/ETH ETF Flows Are Just Getting Started | Matt Hougan

In this episode, Ram Ahluwalia joins the show to discuss his macro view of markets, why he thinks we’re in goldilocks, and his thought process for asset allocation. We also delve into NVIDIA and AI, factor investing, and the role of risk-adjusted returns. Enjoy!—Follo Ram: https://x.com/ramahluwaliaFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-startedMANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(01:56) Ram &amp; Lumida Wealth(02:32) Macro Overview(05:54) 50 Bps Cut Was a Mistake(07:19) Economic Goldilocks(11:27) Fed Mandate(12:33) Cutting Cycle Path(14:32) The Neutral Rate &amp; Animal Spirits(17:05) Election Impact on Markets(18:55) Advertisements(20:11) Asset Allocation Strategies(25:27) NVIDIA &amp; AI(28:55) Factor Investing(33:09) Mathematical Model Shortfalls(35:53) Risk-Adjusted Returns(39:24) Digital Asset Framework(45:40) Market Outlook —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Economy is in Goldilocks | Ram Ahluwalia

In this episode, Jim Bianco and James Seyffart join Felix at Permissionless to discuss who has been buying the BTC ETFs, whether ETFs are consistent with crypto ideals, and why the BTC ETFs were more successful than the ETH ETFs. We also delve into the difference between buying to hold and arbitrage, BTC ETF options, and much more. Enjoy!—Follow Jim Bianco: https://x.com/biancoresearchFollow James Seyffart: https://x.com/JSeyffFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(00:49) Have Bitcoin ETFs Been A Success?(02:27) Who is Buying Bitcoin ETFs?(06:58) Are ETFs Consistent with Crypto Ideals?(11:13) Basis Trade vs Holding(15:46) Advertisements(17:21) ETH ETFs vs BTC ETFs(22:08) Bitcoin ETF Options(26:59) Crypto Ideals at Risk? —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Great BTC ETF Debate: Bearish or Bullish?

In this episode, Charles Edwards joins the show to discuss why the current cycle is the last that will matter, the impact of Bitcoin ETFs, and what the on-chain data is signaling. We also delve into the approval of options on the IBIT ETF, the key top signals, and much more. Enjoy!—Follow Charles Edwards: https://x.com/caprioleioFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/—Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii—Timestamps:(00:00) Introduction(02:04) Macro Overview(03:54) Soft Landing vs Hard Landing(06:09) Bitcoin Seasonality(09:22) Current Bitcoin Cycle Dynamics(12:57) Bitcoin Macro Index(14:41) Future Bitcoin Cycles Won't Matter(17:10) On-chain Data(19:50) Bitcoin ETFs(23:09) Ads(24:23) Interview Continues(27:38) Impact of IBIT Options(29:05) Financialization vs the Bitcoin Ethos(31:53) The Bitcoin Endgame(34:44) Leverage &amp; Funding Rates(38:35) Top Signals —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Last Bitcoin Cycle That Matters | Charles Edwards

In this episode, James and Felix discuss the latest Federal Reserve interest rate decision, the impact of quantitative easing &amp; tightening, and the consequences of trillion-dollar annual deficits. We also delve into the repo market, why the Fed is disconnected from inflation, the role of hard assets like Bitcoin and gold, and much more. Enjoy! —Follow James Lavish: https://x.com/jameslavishFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Learn more: https://www.mantrachain.io/—Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii—Timestamps:(00:00) Introduction(02:11) Unpacking The Fed Decision &amp; Dual Mandate(12:53) Quantitative Easing &amp; Tightening(18:24) 2019 Repo Spike &amp; Dollar Shortage(24:39) Trillion-Dollar Annual Deficits(36:22) Advertisements(37:36) Why The Fed is Disconnected from Inflation(44:47) Is Bitcoin the Solution?(48:46) Gold &amp; Bitcoin As Stores of Value(53:13) Permissionless Ad(53:54) Bitcoin Use Case For Global Sovereigns(58:58) Where to Follow James' Work —Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Fed’s Dilemma: Deflationary Cliff Or Debt Spiral | James Lavish

This week we discuss the split odds between a 25 and 50 basis point cut at the Fed’s next meeting, market cutting cycle dynamics, and the rotation from growth to value. We also delve into the latest inflation data, rising labor productivity, and the outlook for crypto Enjoy!–Follow Ram: https://x.com/ramahluwaliaFollow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin–Weekly Roundup Charts: https://drive.google.com/drive/u/0/folders/1XMVpZ672sX1qJV-admNYvznOPFXR737S–Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-startedMANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii–Timestamps:(00:00) Introduction(02:22) Ram's Background(03:26) 25 Bps vs 50 Bps(08:42) Inflation Data(11:01) The Economy Is Okay(12:36) Fed Opening the Door to 50 Bps Cut(16:08) Parsing the Economic Data(18:12) Labor Productivity(20:27) Ads(21:44) Chinese Economy &amp; Red Flags(28:08) US Equities(32:02) Growth Vs Value(34:31) Factor Market(36:34) Market Rotation(44:24) Permissionless Ad(45:02) Narratives Driving Markets(48:21) Digital Assets(54:49) Bitcoin &amp; Crypto Price Action(59:05) Hot Money Rotation(01:00:37) Cutting Cycle Dynamics –Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Fed Cutting Cycle Imminent, What's Next for Markets? | Weekly Roundup

In this episode, Austin Campbell joins the show to discuss the modern banking system and how crypto is driving innovation. We also delve into stablecoin designs, their role in dollar hegemony, the pros and cons across the spectrum of decentralization, and much more. Enjoy!–Follow Austin Campbell: https://x.com/CampbellJAustinFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemarginNYDFS Stablecoin Guidance: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/regulatory/us-regulatory-nydfs-stablecoin-guidance.pdf–MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii–Timestamps:(00:00) Introduction(01:46) Austin's Background(03:21) Unpacking the Banking System(06:15) Money Markets &amp; Reverse Repo(10:35) Crypto's Role in Banking(14:05) Stablecoin Designs &amp; Reserves(22:00) What is Crypto Solving?(27:33) Mantra Ad(28:14) Spectrum of Decentralization(32:34) CBDCs(36:41) Blockchains vs Databases(40:06) Permissionless Ad(40:46) Crypto &amp; Dollar Hegemony(44:52) Backlash to Crypto(47:46) Crypto Market Outlook–Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Breaking Down the Disconnect Between TradFi & Crypto | Austin Campbell

This week we discuss the soft jobs report and how it compares to the other data, the state of the yield curve and credit markets, and how China is bringing down commodities. We also delve into AI centralization, the outlook for Bitcoin and crypto, and much more. Enjoy!–Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin–Weekly Roundup Charts: https://drive.google.com/file/d/1GnXSyf79KLMoG5p0RRFoNBoAQUet_TOE/view?usp=sharing–Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-startedMANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii–Timestamps:(00:00) Introduction(01:37) Non-Farm Payrolls(09:52) Comparing Other Labor Market Data(12:47) The Fed's Reaction Function(17:54) The Yield Curve Uninverting(19:13) Credit Spreads &amp; Equity Rotation(25:54) Buy What The Government Is Incentivizing(28:34) Advertisements(29:48) Tyler's AI Rant(33:25) What's Going On In China?(39:30) Flight From China(41:52) Permissionless Ad(42:32) Crypto Market Update(44:54) The Effects Of Rate Cuts(47:13) Bitcoin Downside &amp; Outlook–Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Fed Easing Will Match Weakness In The Labor Market | Weekly Roundup

In this episode, Eric Wallerstein joins the show to discuss why the labor market is cooling (not crashing), the decline in the personal savings rate, and increasing labor productivity. We also break down GDP, the credit markets, and how to rethink asset allocation in today's market. Enjoy!–Follow Eric Wallerstein: https://x.com/ericwallersteinYardeni QuickTakes: https://www.yardeniquicktakes.com/Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin–MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii–Timestamps:(00:00) Introduction(01:14) Eric's Background(03:07) The Labor Market Is Okay(08:17) Why The Fed Is So Dovish(11:08) Consumer Savings(14:22) Real Wages(16:53) Labor Productivity(20:38) Breaking Down GDP(24:08) Economic Big Picture(26:46) Mantra Ad(27:25) Risks To The Consumer(29:52) The Fed Doesn't Need To Cut(33:34) Private Credit Markets(37:08) The Fed Supporting Credit Markets(39:17) Bond Markets(41:54) Stock &amp; Bond Correlations(44:10) Rethinking Asset Allocation(46:22) Permissionless Ad(47:02) Global Markets &amp; The Carry Trade Unwind(49:36) Chinese Economy(52:15) Europe Doesn't Issue Debt(55:31) Key Takeaways–Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: Why The Fed Shouldn’t Cut Rates | Eric Wallerstein

This week we discuss NVIDIA's latest earnings, the ongoing market rotation from growth to value, and the connection between credit spreads and unemployment. We also delve into the health of the consumer, the future Federal Reserve balance sheet, and Bitcoin geopolitics. Enjoy!--On the Margin Survey: https://on-the-margin.beehiiv.com/forms/5c7fc920-a57a-496b-9708-1d137bd3014b--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemarginWeekly Roundup Charts: https://drive.google.com/file/d/1fUP_rOgvrTDONP2DfYnJyrzgbmWFt0mP/view?usp=drive_link Kansas Fed Paper: https://www.kansascityfed.org/Jackson%20Hole/documents/10443/Anil_Kashyap_Remarks_JH.pdf –Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:00:00 Introduction02:27 NVIDIA Earnings08:12 Growth Vs Value11:36 S&amp;P 500 Earnings Growth14:02 Yield Curve Steepening17:40 High Yield Spreads19:58 Credit Spreads, Unemployment &amp; Recession23:00 The Health Of The Consumer29:59 Advertisements31:14 The Future Fed Balance Sheet37:05 Consequences Of Controlling Volatility38:57 Central Bank Independence41:18 Permissionless Ad41:57 A Weaker US Dollar44:54 Bitcoin &amp; Geopolitics53:19 Nobody Makes Money In Perps56:51 Are Rate Cuts Bearish?59:29 Will We Ever See Negative Real Rates Again?01:02:02 Altcoins &amp; Macro --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: NVIDIA Passing The Baton From Growth To Value | Weekly Roundup

In this episode, Michael Howell of CrossBorder Capital joins the show to discuss the uptrend in global liquidity, a possible Shanghai Accord 2 to weaken the dollar, and the relationship between debt and liquidity. We also discuss the real breakeven inflation rate, the yield curve, and why you need monetary inflation hedges. Enjoy!--Follow Michael Howell: https://x.com/crossbordercapFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:18) Powell's Jackson Hole Speech(04:20) Uptrend In Global Liquidity(05:53) Global Risk Exposure(12:10) A New Shanghai Accord(18:44) Mantra Ad(19:24) Mechanics Of Yen Intervention(22:01) The Treasury Market(30:20) Breakeven Inflation Rates(32:56) Debt-To-Liquidity Ratio(35:52) Permissionless Ad(36:33) US Public Debt(40:14) Monetary Inflation Hedges(43:11) Managing Bill Issuance(47:03) Bull Vs Bear Steepener(48:50) The Structure Of Global Liquidity(50:08) The MOVE Index(53:49) Treasury Buybacks(55:06) Real Interest Rates(56:38) Equity Market &amp; PBOC Liquidity(59:37) More Upside In Gold &amp; BTC --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Bull Market Will Continue Into 2025 As Liquidity Heads Higher | Michael Howell

This week we discuss Powell’s dovish Jackson Hole speech, employment outweighing inflation, and Kamala Harris’ newly-proposed economic policies. We also dive into the credit markets, crypto regulation, and altcoins. Enjoy!--On the Margin Survey: https://on-the-margin.beehiiv.com/forms/5c7fc920-a57a-496b-9708-1d137bd3014bRoundup Chart Deck: https://blckwrks.co/4dUUAj5--Follow Zaheer: https://x.com/SplitCapitalFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin–Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-started–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(02:13) Jackson Hole Speech(08:17) Employment Outweighing Inflation(09:33) Zaheer's Macro View(11:18) Housing Comeback(13:49) Polkadot Ad(14:26) Global Liquidity(18:01) Credit Isn't The Problem(23:02) New Cycle Of Investing(26:22) Kamala's Economic Policies(34:45) Permissionless Ad(35:27) Crypto Regulation(42:27) Election Impact On Crypto(44:19) Crypto Market Outlook(50:42) The Bull Market Hasn't Even Started(54:55) Altcoins(59:21) Attributes Of Value(01:01:37) Don't Fight The Fed(01:03:11) Polkadot Ad--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Fed Put Is In & Global Easing Has Begun | Weekly Roundup

In this episode, Capital Flows joins the show to discuss his macro philosophy &amp; framework, why he was bullish after the VIX surge, and his views on the yield curve. We also discuss the equity bull market, whether the Fed will allow a recession, and the key drivers of bitcoin's price. Enjoy!--Follow Capital Flows: <a href="https://x.com/Globalflows">https://x.com/Globalflows</a>Capital Flows Substack: https://www.capitalflowsresearch.com/Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:59) Capital Flows Research &amp; Strategy(04:49) Macro Philosophy(07:48) Macro Framework(11:39) Bullish After VIX Surge(15:26) Credit &amp; Duration Risk(18:46) Mantra Ad(19:26) Interest Rate Expectations(25:51) Bull Vs Bear Steepener(27:27) What's Priced Into The Curve(30:38) Permissionless Ad(31:17) What's Driving The Equity Bull Market(36:31) Upside Tail Risks(39:31) Will The Fed Allow An Extended Recession?(43:58) Bitcoin Price Drivers --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Generating Alpha In Macro | Capital Flows

This week we discuss the back and forth between recession and soft landing, the bond market’s economic signals, and the Fed's measured response to the market sell-off. We also delve into the massive VIX decline, July’s CPI, and the frustrating crypto market. Enjoy!--On the Margin Survey: https://on-the-margin.beehiiv.com/forms/5c7fc920-a57a-496b-9708-1d137bd3014b--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin–Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:39) Schrödinger's Soft Landing(04:19) What Is The Bond Market Saying About The Economy?(06:54) The Fed Kept Its Cool(09:05) Massive VIX Decline(11:40) Will Markets Adjust To The Sell-Off?(18:06) The Role Of Flows(21:57) July CPI(24:58) What's Going On With China?(29:13) The Fed's Next Move(31:26) Market Overreaction(34:17) Bitcoin &amp; ETFs(40:06) Frustrating Crypto Market(42:48) How Many New Balances Does Tyler Own?(44:09) What Can Stop The Fiscal Debt Spiral?(47:53) Why The BOJ Backpedaled(53:41) The Globalization Of Central Banks --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Has The Dust Settled? | Weekly Roundup

In this episode, Alex Campbell joins the show to discuss volatility, "Magnificent Seven" concentration, and dispersion trades. We also unpack the mechanics of the carry trade, how short volatility and hedging strategies are shaping the markets, and the role of artificial intelligence in finance. Enjoy!--Follow Alex: https://x.com/abcampbellFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii-- Timestamps:(00:00) Introduction(01:06) Market Volatility Overview(04:51) Magnificent Seven Concentration(06:24) Dispersion Trades(10:49) Market Risks &amp; Correlations(14:09) Mantra Ad(15:15) The Carry Trade(18:14) Market Volatility Vs Credit &amp; The Economy(23:44) Impact Of Short Volatility &amp; Hedging On Markets(31:25) Permissionless Ad(32:04) Artificial Intelligence And Alex's Startup Rose AI(34:54) Collecting &amp; Using Market Data(39:44) The Future Of Finance(43:46) Future Of The AI Industry(46:20) Alex's Thoughts On Crypto --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Mystery Behind The Stock Market Sell-Off | Alex Campbell

This week we discuss the unwinding of the carry trade, the impact of correlations during deleveraging events, and which assets stand to benefit the most from increased liquidity and upcoming rate cuts. We also delve into the widening of credit spreads, steel man the recession argument, and examine the state of the labor market. Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started --Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:00:00 Introduction01:38 Reflecting On The Market Unwind07:41 No Asset Spared In Deleveraging Events12:23 Polkadot Ad13:22 Navigating Extreme Volatility18:39 Assessing Liquitidy Signals21:23 What Benefits The Most From Liquidity &amp; Rate Cuts?23:36 Looking At Credit Spreads26:14 Steel Man-ing The Recession Argument42:30 Permissionless Ad43:10 State Of The Labor Market45:38 Where Is Economic Growth?50:37 Is The Recession On Its Way?55:18 Crypto Market Overview01:03:36 Biggest Trading Mistakes01:08:26 How Much Of The Carry Trade Is Unwound --Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Recession vs Rebound Debate | Weekly Roundup

In this episode, Claudia Sahm joins the show to discuss her namesake recession indicator the Sahm Rule. We deep dive into unemployment, whether or not we are in a recession, and how the Federal Reserve should be reacting. Enjoy!--Follow guest: https://x.com/Claudia_SahmFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodOn The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:13) What is the Sahm Rule?(06:29) Sahm Rule Triggered(08:37) Purpose of the Sahm Rule(10:20) Are We in a Recession?(14:05) Mantra Ad(15:18) Unemployment Dynamics of the Sahm Rule(18:16) Unemployment Dynamics of a Recession(21:22) Sahm Rule 2.0(22:56) Blame the Fed, Not the Sahm Rule(24:35) July Unemployment Report(32:10) Permissionless Ad(32:49) How the Fed Looks at the Labor Market(38:14) Should the Fed be Cutting Rates?(40:38) Are We Heading for a Hard Landing?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Sahm Rule Triggered, Are We In A Recession? | Claudia Sahm

This week we discuss another volatile week in markets with the continuing deleveraging that took place as on the back of a data heavy week. We discuss our takeaways from FOMC, QRA, economic data &amp; the market reaction. Enjoy!--On the Margin Survey: https://on-the-margin.beehiiv.com/forms/5c7fc920-a57a-496b-9708-1d137bd3014b--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--Referenced In The Show: https://a16z.com/the-crypto-price-innovation-cycle/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(02:28) QRA &amp; FOMC Takeaways(16:07) Why Are Markets Unwinding?(23:51) The Yen Carry Trade Unwind(26:11) Permissionless Ad(26:50) What's Happening In Crypto?(31:13) Coinbase Earnings(35:39) Tether Earnings--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Why Are Markets Unwinding? | Weekly Roundup

In this episode, Danny Dayan joins the show to break down what he is seeing in markets post FOMC. With rate cuts expected &amp; markets continuing to melt up, Danny makes the case for why the Fed shouldn't be cutting rates here. Enjoy!--Follow Danny: https://x.com/DannyDayan5Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(00:32) FOMC Takeaway's(03:24) The Economy Is Strong, Should The Fed Cut Rates?(11:03) Mantra Ad(12:10) Why Is This Economic Cycle Different?(17:56) QRA &amp; The QT Impact(22:08) What's The Trade?(28:27) Permissionless Ad(29:05) Stock Market Rotation &amp; The Yen Carry Trade Unwind(37:51) What's Next For Markets?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Economy Remains Strong, Stocks Continue To Melt-Up | Danny Dayan

This week we discuss the volatile week in markets with the deleveraging that took place as the Yen carry trade unwound. With markets quickly bouncing back, we discuss is it time to be bullish? We then deep dive into the launch of the ETH ETFs, the path forward for crypto &amp; the inflation outlook. Enjoy! --Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Mike: https://x.com/MikeIppolito_Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--Referenced In The Show: https://a16z.com/the-crypto-price-innovation-cycle/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Is It Time To Be Bullish? | Weekly Roundup

In this episode, Lyn Alden joins the show to discuss the rise of fiscal dominance &amp; it's impact on markets in H2 2024 &amp; beyond. We then deep dive into Bitcoin as a reserve asset, the election impact, what asset classes should perform well over the next 3-6 months &amp; more. Enjoy!--Follow Lyn: https://x.com/LynAldenContactFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(00:49) The Rate Cutting Cycle(05:09) Is The Economy Slowing?(08:51) Will We See A Recession?(11:02) The Small Cap Rotation(13:34) Mantra Ad(14:43) The Rise Of Fiscal Dominance(18:12) The Election Impact(21:34) Bitcoin As A Strategic Reserve Asset(33:13) Permissionless Ad(33:54) Oil &amp; Energy(42:05) Stocks, Bonds &amp; The Three Pillar Portfolio--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Rise Of Fiscal Dominance | Lyn Alden

This week we discuss what is happening in crypto &amp; traditional markets. With rate cut expectations building, are we on the verge of a massive small cap rotation? We then deep dive into the dispersion trade unwind, is crypto about to catch up to the momentum in traditional markets, the U.S election impact &amp; more. Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Mike: https://x.com/MikeIppolito_Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Stock Market & Crypto Are Turning | Weekly Roundup

In this episode, Andy Constan joins the show for a discussion on the current state of the U.S economy &amp; inflation continues to roll over &amp; financial conditions remain loose. We deep dive into the outlook for stocks, bonds &amp; markets into H2 2024. Enjoy!--Follow Andy: https://x.com/dampedspringFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/-- Timestamps:(00:00) Introduction(00:27) Why The Economy Has Remained Strong(04:39) Financial Conditions Are Still Loose(11:32) Mantra Ad(12:39) Relief In The Long End Has Been Fueling A Stock Market Rally(23:01) What To Expect From The QRA?(29:24) Permissionless Ad(30:02) Alpha vs Beta --Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii

A Soft Landing Is Unrealistic | Andy Constan

In this episode, we dive deep into the latest CPI data showing potential deflationary trends and explore its implications. We analyze how deflation could reshape crypto, gold, and technology stocks. We also cover the Federal Reserve's likely response, the weakening dollar, and the potential for a major market rotation from big tech to small caps and commodities. Thanks for tuning in!--Follow Quinn: <a href="https://x.com/qthomp">https://x.com/qthomp</a>Follow Felix: <a href="https://twitter.com/fejau_inc">https://twitter.com/fejau_inc</a>Follow Tyler: <a href="https://twitter.com/Tyler_Neville_">https://twitter.com/Tyler_Neville_</a>Follow Mike: <a href="https://x.com/MikeIppolito_">https://x.com/MikeIppolito_</a>Follow On The Margin: <a href="https://twitter.com/OnTheMarginPod">https://twitter.com/OnTheMarginPod</a>Follow Blockworks: <a href="https://twitter.com/blockworks_">https://twitter.com/blockworks_</a> On The Margin Newsletter: <a href="https://blockworks.co/newsletter/onthemargin">https://blockworks.co/newsletter/onthemargin</a>--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at <a href="https://www.avax.network/">https://www.avax.network/</a>--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: <a href="https://blockworks.co/event/permissionless-iii">https://blockworks.co/event/permissionless-iii</a>--Timestamps:(00:00) Introduction(01:11) CPI &amp; Inflation Outlook(13:05) Avalanche Ad(14:30) Equity Outlook(25:13) Labor Market Conditions(34:54) Permissionless Ad(35:34) German Gov &amp; Mt Gox Supply Overhang(45:01) Crypto vs Gold Catch Up Trade(55:06) Evolving Politics Culture--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.Timestamps:

What Deflation Means for Crypto, Gold and Tech | Weekly Roundup

In this episode, Julian Brigden of MI2 Partners discusses the current economic landscape, challenging the prevailing optimism about a soft landing. He delves into the complexities of the labor market, the sticky nature of core service inflation, and the psychological shift in corporate pricing strategies. Brigden explores the Federal Reserve's dilemma in managing inflation without triggering a recession, and examines global economic flows and their impact on the US dollar. To close out Julian unpacks where potential may exist in the choppy market. Enjoy!--Follow Julian Brigden: <a href="https://x.com/julianmi2?lang=en">https://x.com/julianmi2</a>Follow Felix: <a href="https://x.com/fejau_inc">https://x.com/fejau_inc</a>Follow On The Margin: <a href="https://twitter.com/OnTheMarginPod">https://twitter.com/OnTheMarginPod</a>Follow Blockworks: <a href="https://twitter.com/blockworks_">https://twitter.com/blockworks_</a> On The Margin Newsletter: <a href="https://blockworks.co/newsletter/onthemargin">https://blockworks.co/newsletter/onthemargin</a>--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at <a href="https://www.avax.network/">https://www.avax.network/</a>--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: <a href="https://www.mantrachain.io/">https://www.mantrachain.io/</a>--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: <a href="https://blockworks.co/event/permissionless-iii">https://blockworks.co/event/permissionless-iii</a>--Timestamps:(00:00) Introduction(01:46) Are Rate Cuts Coming?(08:54) Why Rate Cuts Might Not Come(14:46) Avalanche Ad(16:07) Mantra Ad(17:13) Why Rate Cuts Might Not Come (Continued)(20:41) 2025 Recession Outlook(29:02) Bond Market Sentiment(30:48) Permissionless Ad(31:28) Reality of Inflation(48:13) Global Market Opportunity--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

An Inevitable Recession? Why the Soft Landing is a Myth | Julian Brigden

This week Raoul Pal joins the show to discuss his exponential age thesis. We deep dive into why liquidity will resurge into H2 2024, why diversification is dead, financial repression, the fourth turning &amp; how all these factors impact markets. Enjoy!--Follow Raoul: https://x.com/RaoulGMIFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin --MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(02:17) The Liquidity Cycle(09:26) Trouble In Japan's FX Market(13:00) Mantra Ad(14:06) Financial Repression(15:43) Diversification Is Dead(20:12) The Age Of Debt(27:25) Permissionless Ad(28:06) The Crypto Thesis(39:28) The Banana Zone(46:10) Changing Your Investment Framework(48:55) The Fourth Turning--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Exponential Age: Liquidity Will Continue To Surge Into 2025 | Raoul Pal

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week, we discuss the latest in markets after the presidential debate between Biden &amp; Trump. We deep dive into how markets would react to a Biden vs Trump win in November, the indicators suggesting the Fed will need to cut rates soon, crypto's setup into H2 2024 &amp; Friday's PCE print. Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Mike: https://x.com/MikeIppolito_ On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin --Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Rate Cuts Are Coming | Weekly Roundup

This week David Cervantes joins the show for a discussion on the current setup for both the economy and markets heading into the second half of 2024. We discuss the recession outlook, will stocks continue to grind higher &amp; how to make macro actionable. Enjoy!--Follow David: https://x.com/EconstratPBFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:00) The Fed's Already Got Their Soft Landing(08:14) The Economy Is Slowing(11:34) Mantra Ad(12:44) When Will The Fed Cut Rates?(17:15) How To Make Macro Actionable(29:15) Permissionless Ad(29:54) The U.S Fiscal Dilemma(32:18) Can Stocks Continue To Rally In 2024?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

There's Still No Recession, Can Stocks Continue To Grind Higher? | David Cervantes

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week, we discuss are markets beginning to roll over as market breadth continues to widen. We then deep dive into the U.S election impact, inflation &amp; are we entering a growth slowdown? Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Are Markets Beginning To Roll Over? | Weekly Roundup

This week Joe McCann joins the show for a discussion on the current backdrop for macro &amp; crypto. As markets anticipate Fed rate cuts, will stocks &amp; crypto continue to rally if a resurgence in liquidity is around the corner? Enjoy! --Follow Joe: https://x.com/joemccannFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:08) Combining The Worlds Of Macro &amp; Crypto(09:46) The Crypto Thesis(14:22) Solana(21:53) Bitcoin(25:18) Rate Cuts Are Coming(31:00) Takeaways From FOMC(39:30) Liquidity Is About To Resurge--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Liquidity Will Soon Rise | Joe McCann

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week, we discuss our takeaways from this weeks crucial CPI &amp; PPI prints alongside the Fed's slightly hawkish FOMC meeting. We deep dive into the current market structure &amp; discuss whether or not this rally could be about to enter a couple months of weakness? Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

What's The End Game For Inflation? | Weekly Roundup

This week Joseph Wang joins the show post FOMC to break down how markets are reacting to positive inflation data &amp; Powell's press conference comments. As the U.S continues to run large fiscal deficits, Joseph outlines his thesis for why he expects stocks to continue crushing bonds in 2024 &amp; why markets will actually crash up instead of down. Enjoy! --Follow Joseph: https://x.com/FedGuy12Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:14) FOMC Meeting Takeaways(10:30) The U.S Labour Market(12:56) Mantra Ad(14:05) Stocks Will Continue To Crush Bonds In 2024(16:43) Rate Cuts Are Coming... And It's Bullish(19:51) Gold, Commodities &amp; Bitcoin(23:45) Crypto's Wealth Effect(27:55) Is There A Bear Case For Equities?(30:14) Permissionless Ad(30:52) Monetary Plumbing &amp; The QT Taper(34:32) Presidential Elections &amp; Their Impact On Markets--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Stocks Will Continue To Crush Bonds In 2024 | Joseph Wang

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week, we discuss are we at the beginning of a global rate cutting cycle as the ECB, BoC &amp; SNB have all lowered interest rates. How will this impact markets in the second half of 2024? Enjoy!--Follow Quinn: https://x.com/qthompFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Mike: https://twitter.com/MikeIppolito_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Beginning Of The Rate Cutting Cycle, Time To Be Bullish? | Weekly Roundup

In this special episode, the Jason and Mike announce the launch of Expansion, a new Blockworks podcast focusing on the modular blockchain ecosystem. Expansion hosts Rex and NoSleepJon aim to explore the modular design concepts and architectural principles in the blockchain space. They highlight the benefits and challenges of modularity, the cultural and technical aspects, and how this new ecosystem is poised to disrupt existing technologies. Thanks for tuning in!- -Subscribe on YouTube: <a href="https://www.youtube.com/@expansionpod">https://www.youtube.com/@expansionpod</a>Subscribe on Apple: <a href="https://t.co/QdU3g6YyHb">http://apple.co/4bGKYYM</a> Subscribe on Spotify: <a href="https://t.co/z3aE2ch3Aw">http://spoti.fi/3Vaubq1</a> Follow Zon: <a href="https://x.com/ItsAlwaysZonny">https://x.com/ItsAlwaysZonny</a>Follow Keone: <a href="https://x.com/keoneHD">https://x.com/keoneHD</a>Follow Rex: <a href="https://x.com/LogarithmicRex">https://x.com/LogarithmicRex</a>Follow nosleepjon: <a href="https://x.com/nosleepjon">https://x.com/nosleepjon</a>Follow Expansion: <a href="https://x.com/ExpansionPod_">https://x.com/ExpansionPod_</a> Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: <a href="https://blockworks.co/newsletter/">https://blockworks.co/newsletter/</a> - -Timestamps(00:00) Introduction(05:07) Modularity in Crypto(18:50) Sovereignty &amp; ZK with Modularity(25:30) Value Accrual in Crypto(35:11) Surviving Fragmentation(43:23) Modularity Ecosystem Competition- -DisclaimerExpansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.

Exploring Crypto's Modular Path | Rex & NoSleepJon

This episode Warren Pies Founder of 3Fourteen Research joins the show to discuss the current state of markets with oil trending lower, markets continuing to rally &amp; a pivotal FOMC next week. Enjoy!--Follow Warren: https://x.com/WarrenPiesFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:(00:00) Introduction(01:23) Oil, Rates &amp; The Global Cutting Cycle(15:58) Avalanche Ad(17:19) Mantra Ad(18:27) Inflation(25:51) What To Expect Ahead Of FOMC(32:25) Permissionless Ad(33:11) Why Did The Fed Taper QT?(39:37) The Deficit Impact(42:54) Macro Doomerism--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Fed Wants To Ease, Will The Everything Rally Continue? | Warren Pies

In this episode, Keone from Monad and Zon from Initia to discuss the spectrum between modular and integrated blockchain designs. They explore the tradeoffs in decentralization, performance and scalability between the two approaches. They explore AppChains, rollups, composability challenges in modular systems, EVM compatibility, and when to scale blockchains horizontally vs vertically. To close out Keone and Zon also share valuable insights on building Web3 communities organically. Thanks for tuning in!- -Subscribe on YouTube: <a href="https://www.youtube.com/@expansionpod">https://www.youtube.com/@expansionpod</a>Subscribe on Apple: <a href="https://t.co/QdU3g6YyHb">http://apple.co/4bGKYYM</a> Subscribe on Spotify: <a href="https://t.co/z3aE2ch3Aw">http://spoti.fi/3Vaubq1</a> Follow Zon: <a href="https://x.com/ItsAlwaysZonny">https://x.com/ItsAlwaysZonny</a>Follow Keone: <a href="https://x.com/keoneHD">https://x.com/keoneHD</a>Follow Rex: <a href="https://x.com/LogarithmicRex">https://x.com/LogarithmicRex</a>Follow nosleepjon: <a href="https://x.com/nosleepjon">https://x.com/nosleepjon</a>Follow Expansion: <a href="https://x.com/ExpansionPod_">https://x.com/ExpansionPod_</a> Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: <a href="https://blockworks.co/newsletter/">https://blockworks.co/newsletter/</a> --(00:00) Introduction(03:24) Modular vs Integrated(11:47) Who are Appchains for?(28:58) Composability in Modular World(36:15) Monad's Endgame(39:47) Importance of Decentralization(48:05) Building Web3 Community--Disclaimer: Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.

The Modular Integration Spectrum | Keone & Zon

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week Jack Farley joins us to discuss the biggest stories of the week. With economic data showing early signs of slowing, we deep dive into why inflation is still a problem for most citizens &amp; although we are not in a recession, we are very much so in a "vibecession". Enjoy!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Jack: https://x.com/JackFarley96Follow Tyler: https://twitter.com/Tyler_Neville_Follow Mike: https://twitter.com/MikeIppolito_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Inflation Paradox: Inflation Is Still A Problem | Weekly Roundup

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the Ethereum ETF approval &amp; what it means for ETH the asset, crypto more broadly &amp; U.S elections. We then deep dive into the bull thesis &amp; discuss wether or not we are still bullish going into summer. Enjoy!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Ethereum ETF Turning Point | Weekly Roundup

We apologise for any video/audio issues this episode!--This episode Eric Balchunas &amp; James Seyffart join the show to discuss the sudden Ethereum ETF approval shock that surprised markets this week. Enjoy!--Follow Eric: https://x.com/EricBalchunasFollow James: https://x.com/JSeyffFollow Mike: https://x.com/MikeIppolito_Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--(00:00) Introduction (01:12) The ETH Approval (08:55) Demand For An ETH ETF (14:02) Avalanche Ad(15:23) Mantra Ad (16:29) Will We See More ETFs?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Ethereum ETF Is Approved | Eric Balchunas & James Seyffart

This episode Danny Dayan joins the show alongside Felix Jauvin for a discussion on the problem the Fed faces as inflation remains too high. Making the argument for another rate hike in 2024 vs consensus of rate cuts, we deep dive into financial conditions, the deficit impact, how the Fed broke the yield curve in 2021 &amp; more. Enjoy!--Follow Danny: https://x.com/DannyDayan5Follow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Timestamps:00:00 Introduction01:21 Forget Rate Cuts, The Fed Will Hike Again07:40 Financial Conditions Are Too Loose11:29 Avalanche Ad12:50 Mantra Ad19:47 The Fed Broke The Yield Curve In 202134:31 Fiscal Deficits &amp; The Credit Impulse39:25 The U.S Debt Problem43:09 Why Is China Buying So Much Gold?47:18 Oil50:26 How To Trade 2024?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Forget Rate Cuts, The Fed Will Raise Rates Again In 2024 | Danny Dayan

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the bullish setup for an everything rally. After a bullish CPI print, the return of roaring kitty &amp; most macro event risk behind us, are animal spirits about to unleash once again in a 2021 style melt-up? Are we entering the "banana zone"... Enjoy!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Biggest Risk Is A Market Melt-Up | Weekly Roundup

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the current U.S fiscal situation. What impact will elections have on markets &amp; the every growing U.S debt burden. Enjoy!--Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience.Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets

What Stops The Runaway U.S Fiscal Trainwreck? | Weekly Roundup

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the bullish setup post FOMC &amp; QRA. We also discuss the rise of distrust in institutions, Japan's Minsky moment, the rise of passive &amp; more. Enjoy!--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Powell's Bullish Signal To Markets | Weekly Roundup

This week Bob Elliott joins the show post FOMC to discuss what is driving markets in 2024. We discuss why inflation remaisn too high, why the bond market needs to tighten financial conditions &amp; what's driving the huge rally in Gold. Enjoy!--Follow Bob: <a href="https://twitter.com/BobEUnlimited">https://twitter.com/BobEUnlimited</a>Follow Mike: <a href="https://twitter.com/MikeIppolito_">https://twitter.com/MikeIppolito_</a>Follow On The Margin: <a href="https://twitter.com/OnTheMarginPod">https://twitter.com/OnTheMarginPod</a>Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: <a href="https://blockworks.co/event/permissionless-iii">https://blockworks.co/event/permissionless-iii</a>--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Surging Liquidity Is Fueling Higher Inflation | Bob Elliott

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss big tech earnings &amp; the role of fiscal dominance on earnings growth. To hear all this &amp; more, you'll have to tune in!--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Blockworks: https://twitter.com/blockworks_--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Huge Earnings Beat For Big Tech | Weekly Roundup

This week Vincent Deluard returns to the show to discuss the most important topic in markets today... inflation. After joining the show in February 2023, Vincent was an early inflationista making the case that inflation would not return to 2%. Well, one year later that call has been correct as inflation remains elevated above the Fed's 2% target. The question is, what happens next? Enjoy!--Follow Vincent: https://twitter.com/VincentDeluardFollow Mike: https://twitter.com/MikeIppolito_Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--(00:00) Introduction (02:17) The Rise Of Secular Inflation (10:50) Mantra Ad(11:56) Geopolitical Risk, Oil &amp; The Inflation Feedback Loop (16:43) The U.S Dollar Is Still The Best Safe Haven (21:21) The Rise Of Fiscal Dominance: Gradually, Then Suddenly (26:08) The Inflation Spiral (35:39) Permissionless Ad (36:17) A Recession Free Future (42:18) Oil--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Inflation Still Isn't Going Back To 2% | Vincent Deluard

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the macro forces driving markets, the 2024 Bitcoin halving and the path forward for inflation. To hear all this &amp; more, you'll have to tune in!--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_Follow Blockworks: https://twitter.com/blockworks_--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The Bitcoin Halving Impact | Weekly Roundup

We apologize for video/audio lag in today's episode!--Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week Chris Kuiper Director of Research at Fidelity Digital Assets joins the show for an overview of the Bitcoin market as the 4 year halving approaches. We discuss the ETF impact, current state of the crypto market, the liquidity cycle &amp; what to expect post halving. Enjoy!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Chris: https://twitter.com/ChrisJKuiperFollow Mike: https://twitter.com/MikeIppolito_Follow Blockworks: https://twitter.com/blockworks_--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--(00:00) Introduction(01:23) The Bitcoin ETF Impact(04:27) The Bitcoin Halving(13:06) Mantra Ad(14:12) Is Retail Back?(19:29) Volatility vs Store of Value(30:24) Permissionless Ad(31:02) Institutional Demand For Ethereum(46:02) The Macro Backdrop For Bitcoin(54:41) Where Are We In The Cycle?--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The 2024 Bitcoin Halving | Chris Kuiper

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week we discuss the hot inflation print which rocked markets. As the long end sold off, commodities continue drifting higher &amp; rate cut expectations get pushed out could inflation be about to surprise markets? To hear all this &amp; more, you'll have to tune in!--Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Felix: https://twitter.com/fejau_incFollow Tyler: https://twitter.com/Tyler_Neville_Follow Quinn: https://twitter.com/qthompFollow Mike: https://twitter.com/MikeIppolito_Follow Blockworks: https://twitter.com/blockworks_--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Surprise Inflationary Wrecking Ball Hits Markets | Weekly Roundup

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This is part 2/2 of our conversation with Lyn Alden &amp; Luke Gromen. In this episode we deep dive into the path forward for inflation, the U.S Dollar, bonds &amp; what is fueling the gold &amp; Bitcoin bull market. Enjoy!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Lyn: https://twitter.com/LynAldenContactFollow Luke: https://twitter.com/LukeGromenFollow Mike: https://twitter.com/MikeIppolito_Follow Blockworks: https://twitter.com/blockworks_--MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/--(00:00) Inflation(04:42) Oil &amp; It's Impact On Inflation(11:41) The U.S Dollar(13:04) Mantra Ad(14:09) Gold &amp; Bitcoin(24:28) The Bond Market(33:25) Permissionless Ad(34:03) Inflation vs Recession--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Rising Liquidity Is Fueling A Bull Market In Gold & Bitcoin (Part 2/2) | Lyn Alden & Luke Gromen

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6TFollow On The Margin On Apple Podcasts: https://apple.co/3UsnTiMFollow Blockworks Macro On YouTube: https://bit.ly/3NKpujX--This week Lyn Alden &amp; Luke Gromen join the show to discuss the rise of fiscal dominance, the path forward for inflation &amp; the end game for U.S debt. Part 2 of this discussion will be released tomorrow, so be sure to tune in!--Follow On The Margin: https://twitter.com/OnTheMarginPodFollow Lyn: https://twitter.com/LynAldenContactFollow Luke: https://twitter.com/LukeGromenFollow Mike: https://twitter.com/MikeIppolito_Follow Blockworks: https://twitter.com/blockworks_--This episode is brought to you by Aura, the AI-powered digital security protection app that keeps your personal information, passwords, online activity, and tech safe from digital threats. It’s all-in-one protection from identity theft, financial fraud, malware, scams, and more. For a limited time, Aura is offering our listeners a 14-day FREE trial plus up to 55% off an Aura subscription. Visit https://aura.com/blockworks to sign up for your free trial.--Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz--(00:00) Introduction(02:10) Gold, Real Rates &amp; Russian FX Reserve Sanctions(06:15) The Rise Of Fiscal Dominance(16:08) Aura Ad(17:25) Kinto Ad(18:37) The Fed &amp; Treasury End Game(22:22) Fiscal Deficits Don't Matter, Until They Do...(38:07) Permissionless III Ad(38:45) Deglobalization--Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research &amp; speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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