Happy Friday! On this week’s Roundup, Yano and Santi are joined by Ro to dive in and explore the signals, indicators and metrics that might or might not point to a top of the cycle. From Chamath’s SPAC, borrowing and lending numbers, Kanye meme coins, NFTs and more all provide unique insights into the potential frothy Q4 ahead of us.
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Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
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GEODNET is the world’s largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries.
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Get up to speed on the biggest stories in crypto each week. In five minutes.
Get the Bitwise Weekly CIO Memo delivered directly to your inbox at bitwiseinvestments.com/ciomemo/empire
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"Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.
Key elements for Mantle as the ""Blockchain for Banking"":
- Transactions posted to the blockchain
- Compatibility with TradFi rails
- Integrated DeFi features
UR, built by Mantle, is the first real-world example: an on-chain money app offering Swiss IBANs and unified access to fiat (EUR, CHF, USD, RMB) and crypto — bringing crypto into everyday finance.
Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.
Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'."
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Citrea is the first zero-knowledge rollup to enhance the capabilities of Bitcoin blockspace and enable Bitcoin applications (₿apps). Citrea is optimistically verified by Bitcoin, offering the most Bitcoin-secured and native way to extend BTC’s utility to DeFi.
Learn more about Citrea: https://citrea.xyz/?utm_source=bellcurve&utm_medium=podcast&utm_campaign=website_promo
Follow Citrea on X/Twitter for the latest on its journey to mainnet: https://x.com/citrea_xyz
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Chapters:
(00:52) Intro
(04:01) Top Indicators Explored
(25:33) Ads (Geodnet, Bitwise)
(27:02) Lending Markets & Leverage
(45:55) Private Markets
(54:38) Ads (Geodnet, Bitwise)
(56:00) Ads (Mantle,Citrea)
(57:36) Overlooked Sectors
(01:12:30) Content Recs
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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.
In today's episode Dan from CMS and Ro from Hack join us to explore what's truly different about this crypto cycle and what patterns are destined to repeat. We examined the notable absence of credit markets compared to previous cycles and investigated why leverage hasn't built up in the system this time around. We unpacked the evolving L1 landscape, debated token distribution models, and analyzed the return of "hot money" flowing through various sectors from memecoins to NFTs. We closed out by diving into institutional perspectives on market structure and potential risks, providing listeners with a comprehensive framework for building their crypto portfolio strategy for 2025. Thanks for tuning in!
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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?utm_source=podcasts
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Explore the SKALE Ecosystem at skale.space/ecosystem and stay up to date with the gas-free blockchain on X at @skalenetwork
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It's time for an on chain Binance to emerge.
Magic Eden is getting into token trading and their vision is to become on chain Binance and then much more as the entire world ends up moving on chain
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Toku simplifies every part of global token compensation — everything from paying full time employees in stablecoins, issuing token grants to your team and investors, all in 100 countries on one platform.
Talk to Toku today at: https://www.toku.com/
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Timestamps:
00:00 Introduction
01:57 Tungsten Cube & Pepe Mural Stor
04:47 Is this Cycle different?
15:20 Biggest Risks in Crypt
22:24 Eth/Btc & Sol/Eth Chart
25:26 New Altcoin
30:28 The L1 Trade
37:25 Skale Ad
38:05 Magic Eden Ad
38:49 Toku Ad
39:39 Ledger Ad
40:24 Death of Crypto Venture
55:14 Crypto's IPO Craze
58:34 A16z/s Monopol
01:05:08 Do Dino Coins Run
01:08:14 Chasing the hot ball
01:10:13 When you Retire
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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.
In this episode, Santi & Jason talk with Avi and Ro about the current state of the crypto market cycle in both private and liquid markets. They discuss Avi's "bearish" outlook driven by diminishing ETF inflows and stablecoin market caps, Ro's perspective on crywpto venture investing, and how this cycle compares to the last one. The conversation dives into the Solana IOUs auction, the upcoming Ethereum ETF catalyst, and the (un)productive nature of assets like Eigen Layer's restaking product and Bitcoin DeFi. Avi and Ro also outline their framework for crypto portfolio construction and the key indicators they watch. The episode concludes with their 12-month price predictions for BTC, ETH and SOL.
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Arbitrum is a game-changer for daily Ethereum's users and developers, offering top applications and lower fees. As the leading scaling solution with 600+ apps, explore Arbitrum’s Portal to find your perfect fit. Interact with the home of DeFi, a flourishing NFT and creator ecosystem, and a rapidly growing Web3 gaming hub – Arbitrum has it all.
Get started at:
portal.arbitrum.io
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SKALE is a modular, AppChain network that offers zero gas fee transactions and instant finality. Tailored for ease of development and onboarding, SKALE's configurable EVM chains enable next-gen use cases in gaming, AI, DePin, and others. With over 20,000,000 users having saved over $6 Billion on gas fees, SKALE is the blockchain for mass adoption.
Bridge to SKALE at portal.skale.space and stay up to date with the gasless blockchain at @skalenetwork
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Marinade is the leading Solana staking service that spreads your stake across 100+ top validators, distributes MEV rewards, and provides automatic downside protection with new Protected Staking Rewards. Choose to liquid stake for mSOL for use in DeFi, or delegate your stake through Marinade Native, which gives you full custody of your SOL and no smart contract risk. Max performance for you, max performance for Solana.
https://blckwrks.co/Marinade
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Timestamps:
(00:00) Introduction
(04:28) Avi's Bearish Take
(09:41) Ro's Private Market Perspective
(16:42) Ethereum's Bull Case
(27:42) Private & Liquid Ratio
(36:49) Arbitrum Ad
(37:26) Aura Ad
(38:25) Marinade Ad
(39:29) SKALE ad
(40:46) Solana's Trade
(45:44) Cycle Timing & Comparison
(54:23) Fundamentals of DeFi
(01:01:06) What Everyone is Missing?
(01:11:14) Price Predictions
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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.
Roshun Patel is a partner at the Web3 venture capital firm HackVC.
In this episode, Chaparro and Patel discuss the recent crypto market volatility and the trends shaping crypto's venture capital landscape.
OUTLINE
00:00 Intro
08:11 Market Volatility
25:57 Caution in the Funding Market
32:18 The Intersection of AI and Crypto
43:05 The Future of Tokenomics
Coinbase CEO Brain Armstrong took to Twitter to call out the SEC for what Coinbase considers unclear guidance & hostility around their Lend product, Jason breaks down the situation (1:43). Then, to better understand how DeFi lending works Jason interviews Matt Ballensweig the Head of Institutional Lending at Genesis, a crypto prime brokerage (9:51). We close with three "Ask Jason" questions (50:23).
The crypto market recently experienced one of its worst crashes ever, with numerous coins cut in half in a manner of days, seemingly without an obvious catalyst. So what really happened during the selloff? Who was behind it? And what role did crypto market structure play in the intensity of the decline? We speak with Roshun Patel, the VP of lending at the crypto prime brokerage Genesis, who explains all of this, plus much more.
See omnystudio.com/listener for privacy information.
Michael Moro remembers when Bitcoin felt like it could go to $0. We talked about the transition from that to corporations buying $8 billion in BTC in a quarter, the time he was forced to spend a bitcoin on a case of wine, and the rise of Genesis.
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Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like Empire, visit http://blockworks.co/podcasts.
Follow me on Twitter @JasonYanowitz and let me know what you thought of the show!
The cryptocurrency market continues to exhibit signs of volatility. As such, Genesis Global Trading – an institutional over-the-counter cryptocurrency trading and lending firm – decided to hit the pause button on credit extension amidst the coronavirus-tied market chaos.
Recently, Genesis has started to extend credit on a client-by-client basis but is acting gingerly in the market it helped pioneer – at least for a few weeks to figure out where the crypto credit market stands.
Moreover, while Genesis pulls back, its rivals have been willing to give out loans at significantly reduced collateral.
In this episode of the Scoop, Genesis CEO Michael Moro discusses the firm's rationale behind these critical decisions, a recent phone call it received from its regulator FINRA, and how the need for employees to work remotely has impacted its business.
Episode 11 of Season 2 of The Scoop was recorded remotely with Frank Chaparro, Ryan Todd and Michael Moro, CEO at of Genesis Global Trading and Genesis Capital.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com
In this episode of The Scoop, Frank Chaparro and Ryan Todd interview Michael Moro, Chief Executive Officer at Genesis Trading / Genesis Capital. Genesis Trading is a Digital Currency Group company providing over the counter digital currency trading for high net worth individuals or institutions. In their conversation, Frank, Ryan, and Michael discuss legacy OTC firms adoption of crypto, the challenges of handling big alt-coin transactions, and how crypto lending markets are heating up.
For the transcript and additional reading materials: https://www.theblockcrypto.com/2019/05/07/a-conversation-with-michael-moro-ceo-of-genesis-global-trading/
This talk is from a panel I led on infrastructure in the crypto space at the Time Summit, by Bridge Alternatives, featuring Kayvon Pirestani of director of institutional sales at GDAX, Tim McCourt, CME Group’s managing director and global head of equity products and alternative investments, Michael Moro, CEO of Genesis Trading and Genesis Capital, and Hu Liang, founder and CEO of Omniex. We discussed what infrastructure tools need to be built to get institutional players comfortable with the space, how custodying a digital asset differs from custodying a traditional asset, why they can see institutional players dealing in stablecoins and trading on decentralized exchanges at some point in the future, and what needs to be built out in terms of trading infrastructure for institutional players. (Hint: it turns out Excel and Google Sheets are the biggest competitors for crypto trading infrastructure services.) We also talk about the challenges of building out infrastructure for trading that can suddenly double or quadruple in volume and for a market that runs 24/7/365.
Thank you to Bridge Alternatives and the Time Summit for the panel!
https://www.bridgealternatives.com/
https://timesummit.org/
Kayvon Pirestani: https://timesummit.org/2018/03/19/kayvon-pirestani/
Michael Moro: https://timesummit.org/2018/04/21/michael-moro/
Tim McCourt: https://timesummit.org/2018/03/15/tim-mccourt/
Hu Liang: https://timesummit.org/2018/03/23/hu-liang/
The episode with Mike Belshe where we discuss custodying digital assets and qualified custodians: http://unchainedpodcast.co/mike-belshe-on-what-bitgos-kingdom-trust-acquisition-means-for-crypto-and-how-security-will-develop-in-the-future
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