Empire

Jeff Dorman, CIO and co-founder of ARCA, dives into the complexities of Coinbase's business model and the looming competition from decentralized exchanges (DEXs). He shares insights from his recent tweet on Coinbase's sustainability and unpacks valuation metrics pivotal to crypto assets. The discussion also highlights the innovative potential of tokenization and the integration of traditional financial assets in the crypto space. Dorman explores how DeFi could alter the investment landscape, emphasizing the need for regulatory reform and innovative strategies for success.

This week, the Hivemind team discusses the crypto market rebound, Bitcoin’s outperformance, and whether the rally has more fuel for higher. They also explore Solana’s memecoin trading activity and DeFi growth, the Ethereum Foundations pivot, Hyperliquid’s strategy, and Galaxy Digital’s future Nasdaq uplisting. Enjoy! -- Start your day with crypto news, analysis and data from Katherine Ross and David Canellis. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire Follow Ceteris: https://x.com/ceterispar1bus Follow Jose: https://x.com/ZeMariaMacedo Follow Yan: https://x.com/YanLiberman Follow Duncan: https://x.com/FloodCapital Follow Empire: https://x.com/theempirepod Subscribe on YouTube: https://bit.ly/4jYEkBx Subscribe on Apple: https://bit.ly/3ECSmJ3 Subscribe on Spotify: https://bit.ly/4hzy9lH Join us at Permissionless IV June 24th - 26th. Use code EMPIRE10 for 10% OFF! https://blockworks.co/event/permissionless-iv  Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:25) Market Outlook (4:16) Does Bitcoin Have More Fuel to Run? (14:15) The Ethereum Foundation Pivots (23:23) Solana's Meme Activity & DeFi Growth (31:31) Potential Impact of a Solana ETF (38:26) Will Memes Continue to Outperform? (44:25) Hyperliquid's Staking Rollout (48:17) Thoughts on Metaplex and Sui (53:19) Galaxy Digital's Nasdaq Uplisting -- Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place Blockworks Research: https://www.blockworksresearch.com/ Free Daily Newsletter: https://blockworks.co/newsletter -- Disclaimer: Nothing said on Empire 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. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

This discussion features Samara Cohen, Chief Investment Officer at BlackRock, who delves into the firm's ambitious crypto strategy for 2025. She shares insights on the booming demand for Bitcoin ETPs and emphasizes the potential of tokenization in revolutionizing capital markets. Samara also explores the interplay between traditional and on-chain investments, providing a perspective on Bitcoin's role as a diversifier in volatile landscapes. Lastly, she highlights the importance of data and transparency in attracting new investors to the evolving crypto ecosystem.

In this episode, Santi joins the Bell Curve podcast to discuss current crypto market sentiment, crypto valuation frameworks, and the evolving challenges of utilizing onchain data. Enjoy! -- Follow Santi: https://x.com/santiagoroel Follow Mike: https://twitter.com/MikeIppolito_ -- Grab your tickets to Permissionless IV. Use code EMPIRE10 for 10% off: https://blockworks.co/event/permissionless-iv -- Resources Chopping Block - Is Bitcoin a Safe Haven?: https://open.spotify.com/episode/6n8HWZQ36S5rOoBMi9r6RO?si=viOVZTlGT2uYtBUU8fS-ew Storm’s Data: https://x.com/notnotstorm/status/1915439259630317995 Vance’s Critique on Crypto Data: https://x.com/pythianism/status/1915435394663162231 -- SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees. SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at https://skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork -- Marinade Labs develops staking technologies that strengthen Solana. In 2021, our protocol was the first to bring liquid staking to the network; today, our sophisticated, high-performance staking delegation platform brings billions in liquidity and security to the SOL market. We have solutions for both DeFi and TradFi, including liquid and native staking, as well as direct enterprise integrations. Our best-in-market features include user downside protection (through protected staking rewards) and optimized delegation (via our automated auction marketplace). Cryptoasset investors worldwide, from individual traders to global institutions, use Marinade to earn rewards on their SOL treasuries and holdings. We are headquartered in New York, with offices in the European Union, including Prague. To learn more about Marinade, visit marinade.finance. -- 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 www.Ledger.com -- WalletConnect is the onchain connectivity network . If you’ve connected to a Web3 app, you’ve seen WalletConnect. It’s everywhere—an icon of trust in crypto, as recognizable as Visa at checkout. The numbers speak for themselves: Over 220 million connections and 35 million users worldwide use WalletConnect to power their Web3 experience. @WalletConnect on X and Telegram or visit https://WalletConnect.Network -- AO Mainnet is LIVE! Experience the future of decentralized computing: infinite parallel processing, secure TEE-powered computations, and LLMs in smart contracts. Built on Arweave, AO's modular design shatters scalability limits. 100% of tokens are distributed to Arweave holders and bridge depositors, with a fixed supply and halving. Explore AO today: https://ao.arweave.dev -- Timestamps: (0:00) Introduction (04:21) How Do You Value Crypto Assets? (15:30) Ads (Skale, Marinade)  (16:51) Issues With Crypto's Data Analytics (25:53) Ads (Skale, Marinade) (27:14) Stages of Growth For Companies (35:31) Zora's Token Launch & Business Model (49:53) Ads (Ledger, WalletConnect, Arweave) (52:10) Can Crypto Disrupt Traditional Media Platforms? -- Disclaimer: Nothing said on Empire 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. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Edward Woodford, Co-founder and CEO of ZeroHash, unpacks the economics and future landscape of stablecoins. He analyzes Circle's S-1 filing, revealing key insights into who profits most from the stablecoin model. The conversation dives into regulatory challenges that companies like Circle face, while discussing innovative strategies for maintaining competitiveness. Woodford also highlights the need for interoperability in the evolving financial ecosystem and examines how stablecoins can revolutionize digital payments.

Santiago Roel, an investor at ParaFi Capital and founder of Inversion, dives into the evolving landscape of cryptocurrency. He discusses the shift from speculative markets to practical applications, emphasizing innovative investment strategies amidst volatility. The competitive dynamics of stablecoins come into focus, as Roel critiques current approaches and anticipates changes with traditional banks entering the fray. Transparency challenges in crypto are highlighted, stressing the need for standardized financial reporting to build trust with investors.

The discussion centers on Bitcoin's decoupling from traditional markets and its role as a neutral asset amid shifting global dynamics. There's a deep dive into the impact of U.S. trade policies on Bitcoin's appeal and the ethical dilemmas of Worldcoin’s identity verification. The rise of stablecoins and their adoption in everyday transactions are also explored, along with the implications of geopolitical tensions for cryptocurrency and precious metals like gold.

Quinn Thompson and Felix Jauvin from the Forward Guidance podcast dive into the recent market crash since 2020, analyzing its impacts on the future of investing. They discuss the interplay between government policies and market sentiment, including Trump’s tariffs and their economic implications. The duo contrasts traditional and crypto investment strategies, emphasizing Bitcoin’s potential as a safe haven. Finally, they tackle the challenges still facing Coinbase amid stiff competition in the evolving crypto landscape.

Discover how to navigate market crashes with effective investment strategies. The discussions cover the implications of government tariffs, the state of cryptocurrency, and the psychology behind trading. Insights into Ripple's significant acquisition shed light on evolving industry dynamics. Explore the importance of strategic hiring and how it shapes company culture in the crypto landscape. With a focus on risk management and diversification, this conversation emphasizes patience and adaptability for investors seeking long-term growth.

Gavin Wood, Co-founder of Ethereum and Polkadot, reveals the promise and pitfalls of the crypto world. He critiques the hype that often clouds genuine innovation and argues for more utility in blockchain technologies. Discussing the slow shift from Web2 to Web3, he emphasizes the need for patience in adoption. Wood highlights the importance of economic sovereignty and social impact in decentralized applications, comparing Polkadot's growth to Ethereum’s evolution while advocating for grassroots education in crypto.