In today’s episode of On The Margin, we bring on Jason and Santi from Empire to discuss our 2023 crypto thesis. We debate predictions on the Wallet Wars, ETH vs Bitcoin, the rise of insurance, app-specific vertical integration, the adoption of CBDCs, Coinbase vs DEXs, MEV as a business model and more!

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Timestamps:

(00:00) Introduction

(02:30) Crypto’s 2022 Wrapped

(12:18) The Bottom is in for Crypto, not for Equities

(19:46) Kings of Spot & NFT Trading Will Lose Market Share

(22:50) Stablecoins, DeFi’s Resurgence and Permissioned Protocols

(28:10) Regulators are Coming, and the CBDC debate

(33:31) MEV will be the Business Model for DeFi & Exchanges

(42:13) No Industry Takes Off Without Insurance

(48:57) A Market Bottom & the Value of Memes

(52:44) Curve ad

(54:00) ETH vs Bitcoin (spicy)

(1:05:13) Miner Capitulation, Wallet Wars & Gaming

(1:12:54) Vertical Integration, Privacy and Payments

(1:19:13) The Rise of Professional Guilds

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Follow Mark: https://twitter.com/MarkYusko

Follow Mike: https://twitter.com/MikeIppolito_

Follow Santi: https://twitter.com/santiagoroel

Follow Jason: https://twitter.com/JasonYanowitz

Empire links:

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Follow Empire: https://twitter.com/theempirepod

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Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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