David Hoffman sits down with Mike Ippolito to unpack why 2025 felt brutal despite new all-time highs and why that tension matters for 2026. They argue crypto is entering its “2002 internet” phase, where speculation fades, fundamentals matter, and consolidation accelerates. The conversation covers why Ethereum may see a renaissance, why Bitcoin sentiment could struggle, how prediction markets and equity perps actually play out, and what builders and investors should focus on as crypto matures from hype into real value creation.
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Mike Ippolito
https://x.com/MikeIppolito_
https://x.com/MikeIppolito_/status/1870938934337020106
https://blockworks.co/podcast/bellcurve
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TIMESTAMPS
0:00 Intro
0:41 Evaluating 2025: The Best Worst Year
7:19 Looking Ahead to 2026
15:40 Investor Relations in Crypto
24:29 Evolving Revenue Discussions
27:44 The Future of DATS
30:06 VC Investment Trends
35:13 Prediction Markets: Incumbents Win
39:52 The Ethereum Renaissance
45:42 The Quantum Threat to Bitcoin
55:06 Consolidation in Blockchain Infrastructure
1:05:07 Corporate Chains: Hot Starts, Cold Ends
1:10:43 Closing & Disclaimers
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