

Bell Curve
Blockworks
Bell Curve breaks down the most important themes in crypto for people who, like us, are confined to the middle of the bell curve. Each season explores a different thesis that we'll test and refine through debate with crypto's best. If you're a crypto native, degen or investooor, this podcast is for you.Subscribe on YouTube: https://bit.ly/3R1D1D9Subscribe on Apple: https://apple.co/3pQTfmDSubscribe on Spotify: https://spoti.fi/3cpKZXHGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx
Episodes
Mentioned books

12 snips
Sep 26, 2025 • 1h 1min
Ethereum’s Next Step, HYPE’s Token Supply, and Tether’s Big Raise | Roundup
Delve into Vitalik's vision for low-risk DeFi and how it can secure Ethereum's future. Discover the bold proposal to cut HYPE's token supply and the implications for community governance. Explore the surging interest in stablecoins post-GENIUS Act, and see how crypto seeks to compete against AI for investment dollars. Tether's impressive $500B valuation raise sparks discussions about its strategic partnerships and the future of stablecoins. Finally, hear insights on market cycles and the impact of institutional flows.

Sep 23, 2025 • 49min
Shelby Deep Dive: Bringing Decentralized Hot Storage to Crypto | Pranav Raval
Pranav Raval, Head of Core Infrastructure at Aptos Labs, dives into Shelby, a groundbreaking decentralized hot storage network. He reveals how Shelby can monetize data reads and support applications in streaming, advertising, and AI. Pranav discusses its architecture, including cross-chain integration and unique creator economy opportunities like proof-of-revenue and creator tokens. With Shelby positioned as a key coordination layer for data-driven apps, he paints an exciting picture of the future of decentralized infrastructure.

Sep 19, 2025 • 1h 11min
DATs, Stablecoin Wars, and Corporate Chains | Roundup
In this week’s Roundup, the Bell Curve crew reunites after six weeks to break down the ongoing evolution of digital asset treasury (DAT) companies, the shifting stablecoin landscape with HyperLiquid’s USDH, the debut of Stripe-backed Tempo and the broader “corporate chain” debate, and much more.
Thanks for tuning in!
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Katana directs chain revenue back to DeFi users for consistently higher yields.
It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags:
https://app.katana.network/?utm_source=BW-Pod
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Follow Michael: https://x.com/im_manderson
Follow Vance: https://x.com/pythianism
Follow Mike: https://x.com/MikeIppolito_
Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx
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Timestamps:
(0:00) We’re Back!
(1:48) Is the DAT Trade Over?
(9:44) Token Launch Experimentation
(11:33) Generating Real Yield
(15:10) Solana DATs
(17:42) Katana Ad
(18:11) Rebuilding Around Stablecoins
(21:08) Why Are We Tokenizing?
(22:24) Hyperliquid & USDH
(30:56) Regulation & Market Structure
(33:46) Katana Ad
(34:23) Where Are We in the Cycles?
(36:40) Compliance & Regulatory Clarity
(41:03) Crypto’s (d)Evolution
(44:45) Tempo & Corporate Chains
(59:39) Spiritual Bear Market?
(1:01:15) The World is Weird
(1:03:35) AI Bubble
(1:05:49) Base Teasing Token Launch
(1:08:13) Rate Cuts & DeFi Supercycle
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Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.

13 snips
Aug 15, 2025 • 39min
The Best of Bell Curve
Jeff Park, an expert in financial engineering, dives into the mechanics of Bitcoin treasury companies, convertible debt, and preferred equity. He discusses how these innovative structures are shaping the crypto landscape. The conversation highlights the clash between Bitcoin maximalism and meme coins, exploring community dynamics and market behavior. Park also touches on the psychological impacts of increasing money supply in crypto, revealing how it's intertwined with investor sentiment during volatile periods.

8 snips
Aug 8, 2025 • 58min
GPT-5, Trump’s Crypto Executive Order, and Ethereum’s Bullish Saga | Roundup
The podcast dives into the launch of GPT-5 and its potential impact on consumer interest. It discusses Trump's plans to incorporate crypto into 401(k)s, stirring excitement in the investment landscape. Ethereum's bullish revival is highlighted, fueled by influential predictions and institutional interest. The interplay between AI advancements and the crypto market is explored, alongside fiscal policy shifts and employment data revisions. The dynamic world of DeFi and innovative financial products showcases the evolving landscape of cryptocurrencies.

Aug 5, 2025 • 1h 32min
Empire Cross-Post: The Bull Case For GLXY With Duncan & Rittenhouse Research
Duncan from Flood Capital, a leading figure in the crypto space, teams up with Rittenhouse Research to discuss Galaxy's promising business model. They highlight Galaxy’s unique position at the intersection of AI, crypto, and data centers, and how it's navigating challenges in the sector. The conversation dives into financial strategies, including Galaxy's impressive cash reserves and institutional focus. They also explore the complexities of AI infrastructure and outline significant lease agreements that could drive future growth while positioning Galaxy as a potential leader in the market.

Aug 1, 2025 • 1h 10min
Inside Crypto’s Credit Revival With Sid Powell | Roundup
Sid Powell, CEO and Co-Founder of Maple Finance, shares insights into the evolving crypto credit landscape. He discusses the implications of the SEC’s Project Crypto on DeFi, emphasizing a positive shift for U.S. investors. The conversation delves into institutional interest in crypto, the transformation of lending practices, and Bitcoin's role as a stable asset. Powell highlights the rise of yield-bearing stablecoins and the necessity for regulatory clarity to foster innovation in decentralized finance.

10 snips
Jul 29, 2025 • 57min
Forward Guidance: Threat to Fed Independence is Un-Anchoring Inflation Expectations | Jens Nordvig
Jens Nordvig, PhD Economist and founder of Exante Data, dives into the evolving macro landscape and the pressing issues facing the Federal Reserve. He discusses how waning Fed independence is impacting inflation expectations and the U.S. dollar's declining strength. Jens highlights the 'EMification' of the U.S. economy and the ramifications of tariffs and geopolitical tensions on market behavior. He also analyzes central banks' moves towards de-dollarization and the implications for global investment strategies. Insightful and thought-provoking!

93 snips
Jul 25, 2025 • 1h 15min
Everything You Need to Know About Crypto Treasury Companies With Jeff Park | Roundup
Jeff Park, Head of Alpha Strategies at Bitwise, shares insights into the world of Bitcoin treasury companies. He delves into the innovative financial structures like convertible debt and preferred equity that are reshaping the crypto landscape. The conversation touches on market dynamics, volatility risks, and tax implications. Park also discusses strategic management of crypto securities and emphasizes the importance of on-chain analysis for better investment decisions. This is a deep dive into the complexities of corporate finance within the vibrant world of cryptocurrency.

32 snips
Jul 22, 2025 • 1h 6min
Empire Cross-Post: DC Crypto Week Takeaways With Rebecca Rettig & Alexander Grieve
Rebecca Rettig is the Chief Legal Officer at Gedo, and Alexander Grieve is the VP of Government Affairs at Paradigm, both experts in crypto regulation. They discuss the recently passed Genius Act, which sets new standards for stablecoins and garners bipartisan support. The duo dives into the implications of the Clarity Act for the regulatory frameworks governing digital assets and the need for clear policies to enhance DeFi. They also highlight the innovative EigenCloud platform, which is poised to revolutionize blockchain programmability. Tune in for key insights on the evolving crypto landscape!