Bankless

Michael Nadeau, founder of The DeFi Report, is a cycle-based crypto investing expert known for his on-chain 'cyclamentals' analysis. In this discussion, he explains how on-chain signals prompted his risk-off strategy prior to the market crash. Nadeau delves into the impact of Bitcoin’s drop below key averages, the significance of long-term holder dynamics, and why current liquidity conditions might not support a market recovery. He also shares compelling Bitcoin price zones and his approach for building a watchlist for the next bullish phase.

Zac Williamson and Joe Andrews, co-founders of Aztec, dive into their mission to create a private, programmable Layer 2 for Ethereum. They discuss the importance of privacy in crypto, exploring how tools like ZK Passport protect identities against AI deepfakes. The duo also explains their innovative approach to routing trades while maintaining user confidentiality. They candidly address regulatory risks and share their motivations for building a privacy-focused future, urging a rethink on how identity and privacy intertwine in the evolving DeFi landscape.

Rand Hindi, co-founder of Zama, is a privacy-focused entrepreneur blending encryption and blockchain. He discusses how fully homomorphic encryption (FHE) can transform Ethereum into a confidential platform, tackling the challenges of public blockchains. Rand explains the superiority of FHE over other cryptographic methods like ZK and MPC for ensuring security and usability. He also explores potential scenarios for private decentralized finance and digital immortality, while sharing insights from his work in AI and bioinformatics.

Anthony Sassano, a crypto writer focused on Ethereum, shares insights on the upcoming Fusaka upgrade, highlighting its impact on L2 scaling and gas limits. He discusses the debate surrounding Tom Lee's 'supercycle' theory and Monad's mainnet launch. The conversation dives into the quantum threat to Bitcoin, with Sassano emphasizing Ethereum's agility in upgrading to address such risks. Listeners gain valuable perspectives on ZK scaling advancements and the evolving landscape of decentralized finance.

Keone Hon, co-founder of Monad and expert blockchain engineer, takes the stage to discuss the potential of launching another general-purpose Layer 1. He explains Monad's innovative parallel EVM designed for consumer hardware, achieving lightning-fast speeds with decentralization at its core. The conversation dives into Monad’s six optimizations, the importance of user-friendly nodes, and how it contrasts with Solana and Ethereum. Keone also shares insights on the role of decentralization and the impact Monad aims to have on global financial access.

Michael Howell, a global liquidity analyst and founder of CrossBorder Capital, dives into the intricacies of liquidity cycles that shape asset markets. He explains a critical 65-month cycle impacting everything from Bitcoin to gold. Howell discusses concerns over rising debt maturities, shifts from Fed QE to Treasury QE, and the implications of US stablecoins versus China's gold-backed strategy. His insights on asset allocation and the risk of a forthcoming liquidity crunch make for a compelling listen for anyone curious about the financial landscape.

The crypto market is buzzing with uncertainty as Bitcoin dips below $90k, sparking debates about a potential bear market. Investor sentiment is shifting, influenced by Fed dynamics and AI stock volatility. DevConnect is in full swing, with key insights on Ethereum's scaling roadmap and new developments in privacy solutions. Aave's polished app for consumer banking promises higher yields. Meanwhile, institutions like Harvard are buying the dip, indicating a complex relationship between crypto and traditional finance.

Ruchir Sharma, investor and author known for his insights on global macro trends, explores the intertwining of U.S. dominance and AI's impact on growth. He discusses why the U.S.'s exceptionalism may be peaking, pointing toward a rebound in international markets. Ruchir emphasizes the importance of diversifying investments with exposure to quality stocks and emerging markets like India and China. He also warns about the potential risks of an AI bubble and gives a measured take on Bitcoin as a hedge amidst evolving economic landscapes.

Bryan Johnson, an entrepreneur and longevity advocate, presents his 'Don't Die' moral philosophy, emphasizing existence as the highest virtue. He discusses how societal engineering can address issues like inequality and stagnation in a future influenced by AI. Johnson outlines his Blueprint program for improving health and behavior, stressing collective action for longevity. He also connects innovations in crypto, reflecting on his Braintree experience, as a potential way to support a shared commitment to sustain life and combat entropy.

Tom Schmidt, a venture capital partner at Dragonfly and crypto investor, joins as co-host to explore the jittery crypto market. They discuss Trump's ambitious housing proposals and their potential impact on the economy. The conversation shifts to Coinbase's return of ICOs and Uniswap's highly anticipated fee switch. Privacy takes center stage with Zcash's staggering 4,000% surge and the legal risks for privacy developers. Finally, they dissect JPMorgan's launch of a deposit token, hinting at a new horizon for institutional crypto.