Podcasts about perps

Lucas V. Schuermann, Co-Founder of Variational, joins us to talk about building a high-performance crypto brokerage model on Arbitrum. Lucas explains how Variational routes execution to TradFi venues, eliminates external market maker extraction through its in-house LP, introduces flat-rate swaps to fix funding rate volatility, and builds isolated smart contracts to protect user capital. Subscribe to the newsletter! https://newsletter.blockspacemedia.com --- ## Notes: * Variational sees $1B daily volume on platform. * Platform holds $1.4B in total open interest. * Swaps feature a flat carry cost around 4% to 5%. * LP takes the other side of 100% of platform trades. Timestamps: 00:00 Start 00:46 Lucas' background 03:20 Hedgefund strategies 05:59 Hedgefund tasks 08:31 Variational founding 10:45 Variational market structure 13:41 RWA 16:32 RWA hedging 19:17 Market neutrality 22:53 "Venue for execution" 26:36 Price discovery on-chain 30:02 Building on Arbitrium 33:52 Liquidity pool 37:08 Users depositing to OLP 39:52 A Prop AMM for Perps? 42:23 Future of Order Flow 46:18 Order book theater? 50:50 Incentive programs 55:09 Swaps 57:06 Wrap up The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs builds the most efficient on-chain markets. Their orderbook and Prop AMM products have delivered price improvement to hundreds of billions of dollars in retail volume. Now, they are bringing their expertise to build Phoenix, the best on-chain perpetuals platform. Ellipsis Labs is hiring New York-based engineers. If you're an engineer looking to work with a proven team in making DeFi better, go to ellipsislabs.xyz/careers Learn more about your ad choices. Visit megaphone.fm/adchoices

Jetzt bei Kraken anmelden und 30 EUR Bonus erhalten: https://bit.ly/kraken-bonusThemen & Timestamps:00:00 Begrüssung und Themenübersicht01:19 Bitcoin-Spot-ETFs schliessen Juli im Plus04:21 Wintermute: Die nächste Altcoin-Saison sieht anders aus06:23 Südkorea: Kospi-Crash treibt den Kryptohandel08:02 Samsung SDS baut Stablecoin-Infrastruktur mit Dunamu09:32 RWA Perpetual Futures fast auf Bitcoin-Niveau bei Hyperliquid10:57 World Cup: 20 Milliarden Dollar Volumen auf Prognosemärkten

John Wang, Lead of Crypto & Perps at Kalshi, joins us to talk about bringing CFTC-regulated crypto perpetual futures and prediction markets to the US. John shares insights on growing Kalshi's crypto business, expanding across 140 countries, institutional liquidity, standardized compute indices, and why regulatory compliance scales better than offshore exchanges. The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs builds the most efficient on-chain markets. Their orderbook and Prop AMM products have delivered price improvement to hundreds of billions of dollars in retail volume. Now, they are bringing their expertise to build Phoenix, the best on-chain perpetuals platform. Ellipsis Labs is hiring New York-based engineers. If you're an engineer looking to work with a proven team in making DeFi better, go to ellipsislabs.xyz/careers Learn more about your ad choices. Visit megaphone.fm/adchoices

Link Up w/The Morning Sickness Digitally All Over:Instagram: @hms_98_official, @bosskupd, @bretvesely, @dickToledoX/Twitter: @HMSon98, @DickToledo, @bretveselyFacebook: @HMSKUPDYouTube: @hmspodcast9320, @98kupdRequest/Call in/Wakeup Song line:(IN AZ) 602.585.9800More HMS: holmbergpodcast.com, 98kupd.comEmail: dtoledo@98kupd.com, bvesely@98kupd.com, bbogen@98kupd.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What happens when crypto finally builds a trading experience for everyone, not just crypto natives? This week, Jason sits down with fomo co-founders Paul and Se to discuss why consumer crypto has struggled, how fomo is approaching onchain trading differently, and why they believe social finance is the next major platform. They explore building for mainstream users, the future of tokenized assets, product design tradeoffs, creator-driven distribution, and why transparent onchain data could redefine how investors discover ideas. Enjoy! TIMESTAMPS: 00:00 Intro 03:35 Why Consumer Crypto Keeps Failing 09:32 Selling The Social Finance Vision 15:57 From Niche App To Breakout 22:22 How Fomo Acquires Users 27:57 Building The Social Trading Layer 34:44 Fees, Perps, And Onchain Competition 43:37 Expanding Beyond Trading Fees 49:12 Funding Growth Through Market Cycles 53:14 Robinhood, X, And Copy Trading 58:00 Media And Frictionless Onboarding 01:04:03 The Everything Trading App 01:09:00 Crypto, Tokens, And Going Public FOLLOW GUESTS › Se – https://x.com/seyong › Paul – https://x.com/paulerlanger › fomo – https://x.com/fomo FOLLOW THE SHOW › Empire – https://x.com/theempirepod › Jason – https://x.com/jasonyanowitz › Telegram –https://t.me/+CaCYvTOB4Eg1OWJh › Blockworks – https://x.com/Blockworks EVENTS › Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th https://blockworks.com/events DISCLAIMER Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

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Robinhood Chain perps now run on Lighter. Vlad Novakovski maps the revenue split, the USDG collateral risk, and the race for a US perps license. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Fidelity⁠⁠⁠⁠⁠⁠⁠⁠⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠crypto.fidelitycareers.com⁠⁠⁠⁠⁠⁠⁠⁠⁠. ⁠⁠⁠⁠⁠⁠⁠⁠⁠Cape⁠⁠⁠⁠⁠⁠⁠⁠⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== Robinhood Chain went live last week, and the perpetual futures powering it are from Lighter, the onchain exchange Robinhood backed before Lighter launched its token. Vlad Novakovski, founder and CEO of Lighter, joins Laura Shin to unpack a partnership he says has been building since he and the Robinhood founder were high school classmates. He details a 50/50 revenue split, why USDG as collateral creates friction for market makers, and how a pending CFTC license would cover Robinhood's own front-end too. Novakovski also addresses the crowded field forming around US perps, from Kalshi and Coinbase to Kraken and dYdX, and makes the case that onchain volume keeps gaining share even as crypto native tokens lag real world asset perps. His new seat on the CFTC Innovation Advisory Committee puts him in the room as regulators decide what a DEX has to look like to operate onshore. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vlad Novakovski - Founder and CEO of Lighter Timestamps

Robinhood Chain perps now run on Lighter. Vlad Novakovski maps the revenue split, the USDG collateral risk, and the race for a US perps license. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠⁠⁠⁠⁠⁠Fidelity⁠⁠⁠⁠⁠⁠⁠⁠⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠crypto.fidelitycareers.com⁠⁠⁠⁠⁠⁠⁠⁠⁠. ⁠⁠⁠⁠⁠⁠⁠⁠⁠Cape⁠⁠⁠⁠⁠⁠⁠⁠⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== Robinhood Chain went live last week, and the perpetual futures powering it are from Lighter, the onchain exchange Robinhood backed before Lighter launched its token. Vlad Novakovski, founder and CEO of Lighter, joins Laura Shin to unpack a partnership he says has been building since he and the Robinhood founder were high school classmates. He details a 50/50 revenue split, why USDG as collateral creates friction for market makers, and how a pending CFTC license would cover Robinhood's own front-end too. Novakovski also addresses the crowded field forming around US perps, from Kalshi and Coinbase to Kraken and dYdX, and makes the case that onchain volume keeps gaining share even as crypto native tokens lag real world asset perps. His new seat on the CFTC Innovation Advisory Committee puts him in the room as regulators decide what a DEX has to look like to operate onshore. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vlad Novakovski - Founder and CEO of Lighter Timestamps

Vladimir Novakovski of Lighter joins the Chopping Block crew to untangle one of crypto's oldest debates: what happens when tokens and equity coexist. The gang digs into the Venice/VVV controversy, breaks down Lighter's new Perps integration with Robinhood Chain and the fragmentation questions it raises, dissects the wild BonkDAO governance exploit, and reacts to the eye-popping $2.4 billion in crypto income disclosed in Trump's financial filings. Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto, joined this week by special guest Vladimir Novakovski of Lighter. The crew dives deep into the resurfaced tokens-versus-equity debate sparked by Dragonfly's investment in Venice and its VVV token, with Haseeb making the case that Venice is fundamentally different from Uniswap Labs style structures. Vlad explains how Lighter has approached the same dilemma through programmatic buybacks and a single C corp structure, and the group debates fiduciary duties, Delaware law, and what a merged DeFi/TradFi future for equity and tokens might look like. From there, they unpack Lighter's big Robinhood Chain announcement, including Lighter's new role as the native Perps engine inside Robinhood Wallet, and whether running a separate instance fragments liquidity. The episode wraps with a breakdown of the BonkDAO governance exploit that let an attacker vote themselves $20 million in tokens, and a reaction to Trump's staggering $2.4 billion in pre-tax crypto income revealed in his latest financial disclosure. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights

Vladimir Novakovski of Lighter joins the Chopping Block crew to untangle one of crypto's oldest debates: what happens when tokens and equity coexist. The gang digs into the Venice/VVV controversy, breaks down Lighter's new Perps integration with Robinhood Chain and the fragmentation questions it raises, dissects the wild BonkDAO governance exploit, and reacts to the eye-popping $2.4 billion in crypto income disclosed in Trump's financial filings. Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto, joined this week by special guest Vladimir Novakovski of Lighter. The crew dives deep into the resurfaced tokens-versus-equity debate sparked by Dragonfly's investment in Venice and its VVV token, with Haseeb making the case that Venice is fundamentally different from Uniswap Labs style structures. Vlad explains how Lighter has approached the same dilemma through programmatic buybacks and a single C corp structure, and the group debates fiduciary duties, Delaware law, and what a merged DeFi/TradFi future for equity and tokens might look like. From there, they unpack Lighter's big Robinhood Chain announcement, including Lighter's new role as the native Perps engine inside Robinhood Wallet, and whether running a separate instance fragments liquidity. The episode wraps with a breakdown of the BonkDAO governance exploit that let an attacker vote themselves $20 million in tokens, and a reaction to Trump's staggering $2.4 billion in pre-tax crypto income revealed in his latest financial disclosure. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights

Robinhood macht Ernst: Die eigene Blockchain ist live, und während der halbe Markt den Notausgang sucht, marschiert der Neo-Broker mit Vollgas ins Web3. Tagesgeldkonto mit sieben Prozent, Perps auf Gold und Aktien, tokenisierte Equities und KI-Agenten, die bald für dich traden sollen. Ob sich Coinbase jetzt warm anziehen muss oder Robinhoods Millionen Nutzer den Weg in die On-Chain-Welt gar nicht erst finden, darüber sprechen Julius Nagel und Florian Adomeit in dieser Folge von Alles Coin, Nichts Muss.

Alex Waltz is a prominent Bitcoin historian and film maker, who specializes in digging up information from the first months of Bitcoin's existence. Recently, he launched the ”First Bitcoin Miner” project in order to question whether or not Hal Finney truly was the second mining node on the Bitcoin network. In this episode, we talk about his work and some geeky facts about Bitcoin's history. Read Bitcoin: Year One (free download): https://bitcoin-takeover.com/wp-content/uploads/2026/07/Bitcoin-Year-One-Vlad-Costea-Ani-Comic-Book-Demo.pdf Read Alex's research: https://1stbitcoinminer.com Sponsors: Proudly sponsored by Orangerock.com: Trade Without Limits Orangerock is the pro trading terminal that fits in your pocket. Perps and spot, instant cross-chain swaps, and a self-custodial wallet. Trade crypto, stocks, and commodities with up to 40x leverage. Your keys, no surveillance. Get app: https://go.orangerock.com/bitcoin-takeover Sideshift, the place where you can exchange your stablecoins for unconfiscatable, free market money: https://sideshift.ai LayerTwo Labs, creators of BIP300 and builders of the Drivechain. Now they're hard forking Bitcoin to create Ecash too: https://ecash.com Cake Wallet, your privacy-friendly self-custody companion. Enables silent payments, PayJoins & Lightning for Bitcoin. Also supports Monero, Zcash, Zano & more. Available on desktop & mobile: https://cakewallet.com Time stamps: 00:00:41 Introducing Alex Waltz & His Projects 00:03:34 The Philosophy of Art and Filmmaking 00:05:18 Alex's Research for "First Bitcoin Miner" 00:09:28 The First Bitcoin Miners: Hal Finney vs. Dustin Trammell 00:14:37 Early Bitcoin History and Cypherpunk Involvement 00:21:28 Debating Sergio Lerner's "Patoshi" Research 00:25:39 The Technicals of the Patoshi Pattern 00:37:30 Zcash Giveaway Announcement 00:40:10 The Research Process and Dedication 00:43:11 Analyzing Early Bitcoin Block Times 00:50:35 Explaining the Extra Nonce and Network Halts 01:10:18 Satoshi Was in California? 01:25:49 Why This Research Matters 01:36:18 Feedback and Cinematography 01:49:25 The "Satoshi's Don't Exist" Movie Saga 02:00:41 The Bitcoin Community: Then and Now 02:18:43 The "Knots" Fork Controversy & Moral Panic 02:30:39 The Future of Bitcoin Development 02:34:38 Bitcoin's Use Case: Payments vs. Store of Value 02:46:33 What Is The Point of Bitcoin? 02:56:38 Alex's First Bitcoin Purchase 03:00:38 Early Bitcoin Wallets 03:16:20 Mircea Popescu: A Bitcoin Legend 03:48:07 Growing Up in 90s Romania 04:00:48 Final Message: Take Risks and Build

Yesterday Robinhood hosted their “The World is Flat” event where they announced the Robinhood chain mainnet & deepened relationship with Lighter, amidst many other digital asset focused initiatives. Lighter was named the official perps partner of Robinhood and will be directly integrated within the Robinhood wallet.Vladimir Novakovski is CEO and Co-Founder of Lighter, a decentralized perpetual exchange with an institutional-grade security-first architecture.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:53 Perps For Robinhood Users05:30 What Lighter Brings Robinhood08:13 ETH As The Clearing Layer10:47 Building Beyond Robinhood13:40 Options Launch In Q3Guest Socials:Vladimir Novakovski X: https://x.com/vnovakovskiLighter X: https://x.com/Lighter_xyzLighter Website: https://lighter.xyz/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Martin Matejka is the CEO of Firefish, a company which offers a platform where BTC holders can connect with fiat borrowers in order to achieve the ”never sell your bitcoin” status. In this episode, we talk about how these BTC-backed loans work, and also pursue a more philosophical conversation about the purpose of Bitcoin and whether or not it's currently achieving it. Sponsors: Proudly sponsored by Orangerock.com: Trade Without Limits Orangerock is the pro trading terminal that fits in your pocket. Perps and spot, instant cross-chain swaps, and a self-custodial wallet. Trade crypto, stocks, and commodities with up to 40x leverage. Your keys, no surveillance. Get app: https://go.orangerock.com/bitcoin-takeover Sideshift, the place where you can exchange your stablecoins for unconfiscatable, free market money: https://sideshift.ai LayerTwo Labs, creators of BIP300 and builders of the Drivechain. Now they're hard forking Bitcoin to create Ecash too: https://ecash.com Cake Wallet, your privacy-friendly self-custody companion. Enables silent payments, PayJoins & Lightning for Bitcoin. Also supports Monero, Zcash, Zano & more. Available on desktop & mobile: https://cakewallet.com Time stamps: 00:01:14 Intro & sponsors: meet Martin Matejka of Firefish 00:02:11 "Making Bitcoin lending right this time": BlockFi & Celsius PTSD 00:02:53 How the loan marketplace works in a nutshell 00:03:36 The book: "Bitcoin, the Ultimate Collateral" 00:04:31 Why Bitcoin as collateral vs. digital cash 00:05:17 The Elon Musk playbook: borrow, don't sell 00:06:55 "Once I stopped seeing Bitcoin as an investment, life got better" 00:07:24 Being short fiat: the mortgage mindset 00:08:24 Vlad's pushback: spending fuels the system & miner fees 00:09:35 Liquidation risk & timing loans to the market cycle 00:12:14 Staying safe: 50% LTV and "a machine gun in your hands" 00:13:35 Coming soon: loans with no liquidation mechanism 00:15:17 Why Bitcoin-backed loans are still too expensive 00:16:00 Scaling up: 27,000 users, $160M loans, 4,500 BTC 00:17:05 "Almost as much Bitcoin as the Lightning Network" 00:20:22 Why he founded Firefish: a finance guy's contribution 00:21:38 Firefish explained simply: the marketplace model 00:23:12 The tech: escrow, presigned transactions & DLC-like logic 00:24:41 The "zombie apocalypse" recovery transaction 00:26:06 What's the catch? Avoiding the "trust me bro" mandate 00:28:11 Preventing rehypothecation via Bitcoin itself 00:28:45 How Firefish makes money: the origination fee 00:29:33 Promo code BTCTKVR for 30% lower fees on Firefish 00:30:50 Bitcoin-native DeFi vs. bridging & wrapping 00:32:07 Stablecoins, currencies & US availability 00:34:09 Cypherpunk loan settlement & the dispute mechanism 00:37:37 Why 3-of-3 multisig instead of 2-of-3 00:38:31 Oracles, ephemeral borrower keys & how signing works 00:40:01 Lenders need no keys: "my parents can fund loans" 00:40:32 Beating bonds: outperforming bank deposits & tax-free loans 00:42:37 Zcash giveaway & a seed-phrase security lesson 00:45:30 Sponsors: Bitcoin.com News & Layer 2 Labs drivechains 00:48:01 Debate: is Bitcoin just software that should improve? 00:50:58 Austrian economics & "crashing the central banks" 00:51:32 The paper Bitcoin debate: gold's financialization 00:53:29 Trust minimization, Nick Szabo & God protocols 00:55:10 Covenants & understanding both sides of Bitcoin's civil war 01:00:42 The spam/filtering debate & permissionless transactions 01:02:33 Satoshi's Genesis block message & arbitrary data history 01:06:09 "We're stuck debating spam" — limited supply as core value 01:08:15 The underrated educational value of Bitcoin 01:09:21 Where did the newcomers go? ETFs vs. real adoption 01:10:12 How to make Bitcoin cool again & the FTX taint 01:11:46 Eulogy for Paralelni Polis / Institute of Cryptoanarchy 01:15:44 Grandma's savings destroyed by inflation 01:17:05 The wedding money & the car that never came 01:18:03 Inflation is a much deeper problem than the CPI 01:20:24 The worst thing for Bitcoin: losing its identity 01:21:42 "Do you know what Zcash is?" Privacy vs. fixed supply 01:22:42 Competition & shitcoins: the jealousy analogy 01:23:28 Losing dominance & the Bitcoin Cash profitability metric 01:25:11 Sponsor: SideShift.ai for stablecoin swaps 01:26:11 Why try Firefish today? Rates as low as 5% 01:28:38 Closing thoughts & farewell

The crew debates whether Saylor's STRC preferred shares are "Luna for suits," unpacks the ETH Labs spin-out and Ethereum Foundation layoffs, breaks down the CME's lawsuit against the CFTC to kill domestic perps, and weighs whether Meta's leaked prediction market Arena is a real threat to Polymarket. Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, Saylor's STRC preferred shares, which have broken below their $100 target. Laura argues it's a confidence crisis, Tarun calls it "Luna for suits," and Haseeb pushes back — there's no death spiral, Saylor can just defer dividends and "burn the boat." Then the Ethereum Foundation shakeup: ETH Labs spinning out with seven senior EF members while the EF lays off 20% of its headcount. The back half covers the CME suing the CFTC to block domestic perps — which Haseeb frames as "suing for the right to not compete" — and Meta's leaked prediction market Arena, where Tom reveals this is Meta's third or fourth attempt at prediction markets. Let's get into it. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights

Bitcoin's 4-year cycle may look arbitrary, but the data tells a deeper story. Ryan and Mike break down how leverage, credit, stablecoins, DeFi loans, miners, and Strategy drive crypto's recurring booms and busts, and whether one final domino still needs to fall.----

What does it take to build the best perps trading experience on Solana?In this episode of The Index Podcast, Alex Kehaya sits down with Hunter Simmons, CTO & Co-Founder, and Jordan Prince, CEO & Co-Founder, of Imperial Perps to unpack why Solana perps are evolving fast, what traders actually need, and how Imperial is building a clearer, more transparent trading experience for the next wave of onchain users.From fee transparency to better routing, liquidation risk, UX, and the “seek truth” mindset behind great products, this conversation breaks down where Solana DeFi is heading — without the jargon.In this episode:

Kalshi just brought crypto perps to the US, targeting a $90 trillion offshore market. Its Head of Crypto, John Wang, explains the bet, the risks, and who Kalshi is actually competing with. ======================================================== Thank you to our sponsor! ⁠⁠⁠Fidelity⁠⁠⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: ⁠⁠⁠crypto.fidelitycareers.com⁠⁠⁠. ⁠⁠⁠Cape⁠⁠⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== The $90 trillion offshore market for crypto perpetual futures just got its first US-regulated entrant. Kalshi — the prediction market exchange that raised $1 billion at a $22 billion valuation — launched the first CFTC-approved crypto perps, becoming the only domestic exchange approved on launch day. John Wang, Kalshi's Head of Crypto, joins Laura Shin to map how perpetual futures work, why Kalshi's guarantee fund and segregated accounts differ from what offshore venues provide, and how the exchange plans to compete with Hyperliquid, Coinbase, and Kraken. Wang pushes back on CME Group CEO Terry Duffy's claim that crypto perps are "a disaster waiting to happen," noting CME's own futures carry higher leverage than Kalshi's platform. He covers the ARCA and Galaxy block trades on Kalshi's prediction markets, insider trading protections built around athlete and congressional staff lists, and the regulatory filings separating Kalshi from perps on equities. Wang estimates only 0.2% of the US has adopted perpetual futures — the real growth has barely started. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠⁠⁠⁠⁠⁠⁠⁠⁠John Wang - Head of Crypto at Kalshi Timestamps

Gm! In this episode, we're joined by Anas Khader, Founder of Flash Trade, to discuss the protocol's journey from building alongside Mango Markets to launching a Solana-native perpetuals exchange. We cover Flash Trade's pool-to-peer liquidity model, expansion into equities, commodities, and forex perps, its new Magic Block-powered execution engine, security and oracle design, the future of 24/7 markets, and how Solana's evolving infrastructure is shaping the next generation of onchain trading. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Flash Trade: https://x.com/FlashTrade Follow Anas: https://x.com/allinbitcoin_ Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:18) Flash Trade Origin Story (6:23) Pool-To-Peer Perps (11:22) New Asset Markets (16:46) Magic Block Design (26:08) Competing In Perps (32:08) Oracle And Security Risks (39:15) Next Perps Frontier (42:49) Solana's Growth Path (48:04) Solana UX Improvements (51:07) Try Flash V2 (52:13) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Danny, and our guests may hold positions in the companies, funds, or projects discussed.

This week, CFTC Chair Michael Selig joins the show to discuss the CFTC's recent policy announcement on perps in the U.S. We deep dive into how to regulate crypto in the U.S, prediction markets, 24/7 markets, working with the SEC and more. Enjoy! -- Follow Michael: https://x.com/MichaelSelig Follow Rob: https://x.com/HadickM Follow Empire: https://x.com/theempirepod -- Robots will soon outnumber humans onchain. peaqOS turns them into a new trusted liquid asset class, with yield tied to real-world workloads. It gives robots all they need to do business on any chain — and lets humans earn from automation. Explore the Machine Economy: https://peaq.xyz -- Timestamps: (00:00) Introduction (04:20) Working With The SEC (08:40) Bringing Perps To The U.S (19:03) peaq Ad (19:49) How To Regulate DeFi? (26:08) Becoming The Crypto Capital of The World (29:10) Prediction Markets (45:28) 24/7 Capital Markets (56:39) The Clarity Act (01:00:14) Final Thoughts -- 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, Rob and our guests may hold positions in the companies, funds, or projects discussed.

Dragonfly's Haseeb Qureshi breaks down why Bitcoin is not an honest macro asset, why domestic perps will disappoint compared to offshore, and why BNB has been outearning Hyperliquid for years yet nobody wants to talk about it. The most contrarian read on digital assets you'll hear this week.Haseeb Qureshi is Managing Partner at Dragonfly, a leading digital assets venture capital firm.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Bloody Day Market Recap02:21 Bitcoin Not Honest Macro03:39 Retail Left The Market04:56 Revenue Beats Crypto Beta07:00 HL Regulatory Risk Explained09:34 Domestic Perps Different Product12:07 Why Perps Were Invented15:42 HL Lighter Most Investable?17:56 BNB Beats Hyperliquid Revenue19:36 Markets Are Forward Looking23:03 L1 Fee Paradox Explained27:34 OpenAI Enterprise Fee Model29:14 Fundamentals Great Prices LaggingGuest Socials:Haseeb X: https://x.com/hosseebDragonfly X: https://x.com/dragonfly_xyzDragonfly Website: https://www.dragonfly.xyz/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Kash Dhanda is the COO at Jupiter.Most people know Jupiter for its flagship DEX aggregator and perps. But we've dug into the onchain business backing JUP token value accrual and why the fundamentals are worth understanding heading into the next bull run.In this episode of Revenue Meta, Kash walks us through how Jupiter generates revenue across five distinct products: DEX aggregator, perps, Jupiter Lend, JupUSD, and Jupiter Spend, plus more revenue streams growing in development. This is a fascinating deep dive into Solana's largest, most dominant DeFi super app, including why perps for just three trading pairs wins over so much trade volume, how JLP remains one of Jupiter's most popular products, and how JUP token value accrual is aligned with Jupiter's app success. We also get the inside details on what's coming with Jupiter Lens DEX, prediction markets for the World Cup, Jupiter Spend, and their new Offerbook for borrowing and lending with long tail tokens.------

Joe Lubin makes the bull case for Ethereum amid a sea of bearishness. The panel dissects Saylor selling Bitcoin for the first time in four years, the meaning behind 9 senior EF departures, Justin Drake's Q-Day call (50% by 2032), Manuel Araoz declaring all of DeFi unsafe, the ThorChain hack fallout, the Zama/Overnight Finance USDC freeze saga, and the CFTC greenlighting the first US perpetual futures product. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week Joe Lubin is stepping in to make the bull case for ETH on what he admits is a tough day to be bullish. We open on Strategy's first Bitcoin sale in four years and whether the STRC preferred stock structure is "an algorithmic stablecoin with too many steps," as Tarun puts it. Joe pivots to pitching Ether DATs, then we get into the Ethereum Foundation's brain drain -- nine researchers gone, CROPS as the new mandate, and a mysterious new developer organization taking shape behind the scenes. The episode's meatiest block covers DeFi security: Justin Drake warns Q-Day is 50% likely by 2032, Manuel Araoz says all of DeFi is unsafe, ThorChain's been offline for two weeks post-hack, and the panel debates whether we're entering a rough 12-24 months where attackers outrun defenders. We close on Hyperliquid's all-time highs and the CFTC opening the door to US perps.  Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights

Gm! In today's episode we discuss recent developments in U.S. cryptocurrency perpetual futures regulation, including CFTC approval of Bitcoin perpetual contracts and implications for centralized and decentralized trading platforms. We also cover a proposed Solana fee mechanism aimed at increasing token burn, before examining the surge in Pokémon card speculation and the growth, economics, and risks of onchain trading card platform Collector Crypt. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Kunal: https://x.com/Kunallegendd Follow Carlos: https://x.com/0xcarlosg Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (2:34) US Perps Go Legit (17:20) Solana's Fee Debate (26:00) Tradeoffs for Users (41:13) Pokémon Cards Go Parabolic (44:04) Collector Crypt's Gacha Boom (59:19) Valuing the $CARDS Token (1:03:02) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Danny, and our guests may hold positions in the companies, funds, or projects discussed.

The CFTC reclassified perps as futures. Katherine and Jessi parse what the ruling actually permits and what it means for Hyperliquid. Plus: if your AI agent gets scammed, who pays? Thanks to our sponsor! Explore crypto careers that could change your future at https://crypto.fidelitycareers.com The CFTC approved a perpetual Bitcoin futures contract for KalshiEX, and crypto Twitter immediately got it wrong. Katherine Kirkpatrick Bos untangles what actually changed, why the switch from swap to futures classification matters for retail access, and what the ruling leaves wide open on leverage and decentralized exchanges. Jessi Brooks and Katherine explore the fact that AI agents can now place orders, not just give advice. They revisit their paper "The Agents at the Gate" and make clear why Robinhood's move to let agents charge your Gold Card raises liability questions that existing consumer protection law was never built to answer. In the strangest segment, they also dug into a New York lawsuit where an anonymous plaintiff is claiming legal ownership of nearly 40,000 dormant crypto wallets. Jessi explains why the lost-property theory will probably fail — and why even a partial win could force centralized exchanges into an impossible spot. Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Katherine Kirkpatrick Bos⁠⁠⁠⁠⁠⁠, General Counsel at StarkWare. Previously held senior legal roles across DeFi and centralized exchanges. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jessi Brooks⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, General Counsel at Ribbit Capital⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Join our hosts as they explore the evolution of perpetual futures and how these “no-expiration” instruments are reshaping crypto market structure. From the mechanics of funding rates to the differences between traditional and perpetual futures, we break down why perps have become a dominant trading vehicle in digital assets. We'll cover the rapid rise of on-chain platforms like Hyperliquid, examining how permissionless market creation, expanded asset access, and real-time transparency are redefining who can trade—and what they can trade. We'll also unpack core trade-offs: from oracle design and liquidity challenges to smart contract risk, visible positions, and regulatory uncertainty. Listen in as we look ahead at what these innovations could signal for the broader future of markets, including the potential convergence of crypto-native infrastructure with traditional finance. Episode Topics:  [0:00] Intro [1:20] News Rundown [2:17] About Spot Markets & Perpetual Futures [8:06] Features & Differentiation [13:14] Risks & Considerations [20:14] Market Validation [23:44] Final Thoughts & Outro Stay connected with us beyond the podcast by following FCAT on, Instagram, LinkedIn, and X, where we share additional insights and updates on all things emerging tech.  Whether you're crypto-curious or have a crypto foundation, Fidelity may have your next career opportunity. EXPLORE NOW.  Please remember: this podcast is solely for informational and educational purposes and is not investment, tax, legal or insurance advice. Digital assets are speculative and highly volatile and you should conduct thorough research before you invest. To learn more, visit: FCATalyst.com FMR LLC. © 2026 FMR LLC. All rights reserved.  Chapters (00:00:00) - Intro(00:01:20) - News Rundown(00:02:17) - About Spot Markets & Perpetual Futures(00:08:06) - Features & Differentiation(00:13:14) - Risks & Considerations(00:20:14) - Market Validation(00:23:44) - Final Thoughts & Outro

The Depository Trust & Clearing Corporation (DTCC), and Stellar announced plans to enable tokenization of custodied assets on the Stellar network. MoneyGram today announced the launch of MGUSD, a native U.S. dollar stablecoin and the foundation for a growing suite of financial services across its global network. ~This episode is sponsored by Tangem~ Tangem ➜ https://bit.ly/TangemPBN Use Code: "PBN" for Additional Discounts! Guest: Denelle Dixon, CEO & Executive Director at Stellar Development Foundation Stellar Learn More ➜https://bit.ly/StellarXLMwebsite 00:10 Sponsor: Tangem 01:00 Moneygram launching stablecoin on Stellar 02:40 Expectations 03:30 Canton disbelief 05:30 What will be the limitations?  06:15 Why 24/5? 07:30 Institutions care about distribution 09:45 Bridges to access DeFi apps like Morpho? 12:00 When will this happen? 01:00 Next 2 years 14:40 BENJI 5-Year performance 15:40 RWA value in 12months? 17:00 Why hasn't USDC or PayPalUSD taken off on Stellar? 18:30 Is “Privacy” misleading? 19:40 KYC for everyone? 24:15 CLARITY Act odds & unlock 25:10 Perps & Prediction Markets on Stellar? 25:40 POS System: Toast partnership? 28:30 Customer confidence timeline? #Crypto #XLM #ethereum ~Two Massive Stellar Partnerships!

Felix Fan runs Trust Wallet — 200 million users and, per his own numbers, the third-largest self-custodial wallet by Bitcoin transaction volume. At Consensus 2026 he sits down with David Sencil to drop the stats, the controversies, and the roadmap.The tension Felix is honest about: shipping innovations on Bitcoin — like inscriptions — that Bitcoin OGs don't love. The Trust Wallet bet is that the next 100M users care more about features than purity, while still wanting self-custody. He also gets specific about what's NOT shipped yet: private swap, private transfer, and Zcash support are all built but waiting on legal frameworks.We cover:- The 200M-user and #3 Bitcoin volume claim- Inscriptions on Bitcoin and the OG debate- Gasless stablecoin transfers via RPC-level sponsorship- Trust Wallet's agent kit for AI on-chain- Perps, prediction markets, and the regulatory wall on privacyFilmed at Consensus 2026.Host: David Sencil

We discuss why oil remains the key macro pressure point for crypto as Iran-conflict escalation keeps inflation risk, the dollar, and higher-for-longer Fed expectations in focus. We cover why bitcoin's setup has weakened below $70K, with ETF outflows, weak trend signals, softer holder profitability, and exchange inflows all pointing to a more fragile market. We also discuss Coinbase bringing regulated access to crypto options and perpetual futures to the US, why that could be a major institutional market structure unlock, and why AI continues to support equities even as crypto lags. Main sections: (01:20 - 08:51) Oil, Iran, and stagflation risk (08:51 - 14:21) Bitcoin's weaker setup (14:21 - 22:18) Crypto options and perps come to the US! (22:18 - 27:37) AI and equity leadership Colin Basco - Quantitative Strategist, Coinbase (X: https://x.com/colin_basco) Josh Pack - Senior Prime Trader, Coinbase Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What role will perpetual futures play in the next evolution of crypto trading? On this episode of The Crypto Rundown, Mark Longo sits down with Nirup Ramalingam, CEO and Co-Founder of Bridgeport, to discuss the rise of crypto perps, institutional demand, counterparty risk, custody challenges, capital efficiency, tokenization, 24/7 markets, and the growing influence of traditional finance in digital assets. Plus, we break down the latest action in Bitcoin, Ethereum, IBIT, Hyperliquid (HYPE), Solana, XRP, Dogecoin, Circle, BitMine and more as crypto markets navigate another volatile stretch.

Over a trillion dollars worth of perps are traded every month, yet 99% people have never heard of them. Fewer understand how they work.This podcast is a multi-hour deep dive on perps, starting from the history of grain futures in Chicago to a historic CFTC announcement on Friday, May 29, 2026.My goal: The internet's most comprehensive explainer on perps.In this episode, you'll hear from the world's leading experts on the legal layer of perps: Hyperliquid Policy Center CEO Jake Chervinsky and policy counsel Brad Bourque BrettHarrison, CEO of ArchitectKatherine Kirkpatrick Bos, general counsel of StarkWareRyne Miller, partner at Morrison FoersterMike Frisch, partner at Croke Fairchild David Shafer, lawyer at CoinbaseBy the end of this episode, I promise you'll be in the top percentile for understanding perps, regardless of where you're starting from. (You just might need to listen twice. There's a lot here.)Timestamps:0:00 Intro4:04 What is a perp? 7:18 Why futures contracts exist8:15 Liquidity fragmentation11:01 History of U.S. futures 17:08 Richard Nixon, the gold standard and financial futures 21:27 Birth of the CFTC24:27 Robert Shiller's 1992 paper30:09 Price convergence32:00 The funding rate 43:41 Oracles and manipulation risk47:39 Are perps swaps or futures? 52:44 A @ChairmanSelig clip on perps54:02 The DCM framework59:16 DCMs, DCOs and FCMs explained1:04:55 History of crypto perps (BitMEX, FTX)1:13:00 How Hyperliquid works 1:25:41 CFTC's historic announcements on May 29, 20261:35:00 Fireside with @jchervinsky and @BradBourque of @HyperliquidPC Newsletter: I'm re-launching the Law of Code newsletter soon: you can ⁠⁠⁠stay updated on emerging tech law for free here⁠⁠⁠. https://www.lawofcode.fm/Any feedback on this episode? Or how to improve the podcast? ⁠⁠Click here⁠⁠. https://forms.gle/W4d2a5aHuLJjuNdn7Disclaimer: This podcast is for informational and educational purposes only and does not constitute legal or investment advice. Views expressed by guests are their own and do not necessarily reflect those of their employers. Listening to this podcast does not create an attorney-client relationship.

What role will perpetual futures play in the next evolution of crypto trading? On this episode of The Crypto Rundown, Mark Longo sits down with Nirup Ramalingam, CEO and Co-Founder of Bridgeport, to discuss the rise of crypto perps, institutional demand, counterparty risk, custody challenges, capital efficiency, tokenization, 24/7 markets, and the growing influence of traditional finance in digital assets. Plus, we break down the latest action in Bitcoin, Ethereum, IBIT, Hyperliquid (HYPE), Solana, XRP, Dogecoin, Circle, BitMine and more as crypto markets navigate another volatile stretch.

Cardano native projects are pumping hard while the broader market is red. In this news update we cover Strike Perps treasury proposal, Indigo v3 launch, USDM + Pyth integration, Charli3 winding down, Surf DeFi liquidity injection, and much more.

All three major U.S. stock indices closed at fresh record highs on May 28, the same day inline core PCE inflation data met consensus expectations AND multiple White House sources reported a new, tentative 60-day Iran War cease fire. ~This episode is sponsored by Uphold~ Uphold Staking ➜ https://bit.ly/UpholdXRPCard Guest: Evan Aldo Evan Aldo Youtube Channel ➜ https://bit.ly/EvanAldo 20% off Evan Aldo Course ➜ https://bit.ly/EvanCourse ➜  Use code "paulbarron" 00:10 Sponsor: Uphold 00:50 Tom Lee: 3 phase market 02:00 Rate hike odds 03:00 Iran Deal Done? 04:45 Bitcoin analysis 06:15 CNBC: 100bps incoming 08:40 CLARITY bill 2030? 10:00 Joseph Chalom: ETH burn thesis is just staring 11:15 Ethereum analysis 13:50 SpaceX IPO 15:00 Tevis: SpaceX pump is deliberate 16:20 TESLA buy? 17:30 MSTR: buy, hold or sell? 19:00 HYPE trend 21:20 Perps supercycle on SOL #Crypto #Bitcoin #Ethereum ~Massive Rate Hike?

 In this episode, we're joined by Luke and Sam to discuss the evolution of crypto trading infrastructure, including Solana's push to improve perpetual futures execution and compete with Hyperliquid. We also cover tokenized equities, onchain yield markets, Pendle's role in DeFi incentives, and the growing adoption of tokenized Strategy-related assets. Thanks for tuning in! As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice. -- Follow Blockworks Research: https://x.com/blockworksres Follow Luke: https://x.com/0xMether Follow Sam: https://x.com/minnus Follow Danny: https://x.com/defi_kay_ Follow Boccaccio: https://x.com/salveboccaccio -- Subscribe on YouTube: https://bit.ly/3foDS38 Subscribe on Apple: https://apple.co/3SNhUEt Subscribe on Spotify: https://spoti.fi/3NlP1hA Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:52) Solana vs Hyperliquid (5:33) BAM's Maker Priority (8:08) Why Solana Perps Lagged (11:44) Tokenized Stocks Shift Trading (26:24) Tokenized Stretch Takes Off (34:01) Stretch Looping Risks (37:44) Pendle's Yield Challenge (43:45) Boros vs Pendle V2 (47:59) Crypto Finds Outside Markets (53:50) Closing Comments -- 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 0xResearch 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. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.

Pre-IPO trading is hot ahead of three big IPOs. Perp volume on Hyperliquid went from $3M to $44M in three months, and SpaceX perps is just the beginning, says Dio Casares of Patagon. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠Coinbase One⁠⁠⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠⁠⁠coinbase.com/unchained⁠⁠⁠⁠. ======================================================== Pre-IPO perp volume on Hyperliquid grew from $3 million to $44 million in roughly three months. Anthropic and OpenAI voided secondary shares, sending shockwaves through the pre-IPO marketes. Robinhood launched trust-style tokenized offerings into a gray area. And three trillion-dollar IPOs — SpaceX, Anthropic, and OpenAI — are converging in the same window. Dio Casares, founder and CEO of Patagon, a private neobank that has facilitated deals in Anthropic, xAI, Circle, and Kraken, explains the structural difference between derivatives and tokenized spot, why second and third-layer SPV waterfalls are legal hot potato, who actually holds the cleanest title, and where the competition for private market liquidity goes next. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠Dio Casares - Founder & CEO, Patagon Learn more about your ad choices. Visit megaphone.fm/adchoices

Lucas Schuermann joins The Rollup to cover how Variational raised $50M to build the on-chain brokerage.Lucas Schuermann is Founder and CEO of Variational, a zero-fee on-chain brokerage.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 $50M Raised00:54 Ten Years In Quant And HFT01:29 Q Capital Dorm Room Story01:46 Genesis Trading Chapter02:23 Variational Started As Prop Shop04:08 Luna FTX Risk Lessons05:55 Dragonfly Series A Breakdown07:03 RFQ Not Order Book Design09:08 Trading Global Markets Onchain12:42 $16B Volume In 30 Days15:58 50% Of HyperLiquid Is RWA19:43 Zero Fee Revenue Model25:00 Robinhood GameStop Question28:53 Why Built On Arbitrum32:33 Exchanges Vs Brokerage Models36:01 100 Plus RWA Markets ComingGuest Socials:LVS X: https://x.com/variational_lvsVariational X: https://x.com/variational_ioVariational Website: https://www.variational.io/ Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

In this episode, Peter breaks down Cardano's emerging perpetuals landscape and why this next wave of DeFi products could bring both more activity and more risk to the ecosystem. Rather than focusing on just one project, he compares four platforms, Strike Finance, Atlas, Ascend, and Minute Markets, and explains how each one is approaching leveraged trading, prediction markets, liquidity, privacy, and user experience.The episode also gives a beginner-friendly explanation of what perpetuals are, how long and short positions work, why leverage can be dangerous, and why stablecoin liquidity matters so much for Cardano DeFi. It is a useful overview for anyone trying to understand where perpetual trading fits into Cardano's growth, what makes each platform different, and which design choices could matter most if this sector gains real traction.Key Takeaways:- Cardano now has multiple projects competing in the perpetuals and prediction market space, with Strike Finance, Atlas, Ascend, and Minute Markets each taking a different approach.- Perpetuals let traders go long or short with leverage, but they also introduce liquidation risk and should be treated as an active trading tool rather than passive income.- Strike Finance is currently the most established platform in the group, with a live mainnet product and a broader cross-chain expansion strategy.- Atlas is trying to solve Cardano's fragmented stablecoin liquidity problem through a unified collateral and liquidity model.- Ascend combines prediction markets with perpetuals and adds privacy through zero-knowledge infrastructure on Midnight.- Minute Markets focuses on short-duration prediction markets, making the user experience simple and fast but potentially encouraging overtrading.- Peter argues that better mobile wallet integration and cleaner user experience could be key to bringing more retail users into Cardano DeFi products.- The long-term winners in this sector are likely to be the platforms that combine liquidity, risk management, clear product design, and user trust.Links & References:- x.com: https://x.com/strikeperps- Strike Finance | Decentralized Perpetuals Trading On Chain: https://www.strikefinance.org/- x.com: https://x.com/ATLAS_DEFI_/- x.com: https://x.com/ATLAS_DEFI_/status/2039422902005571907- x.com: https://x.com/AscendPerps- Ascend Market | Leveraged Event Perpetuals: https://www.ascend.market/- x.com: https://x.com/minute_markets- Minute Markets: https://www.minutemarkets.io/Website: https://learncardano.ioX/Twitter: https://x.com/LearnCardanoDisclaimer: This content is for educational purposes only. Nothing constitutes financial advice.DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.

Markets are ignoring every warning sign as stocks hit new highs, but crypto may finally have its catalyst. Ryan and David break down the CLARITY Act's key vote, Wall Street's Ethereum push, Bitcoin's $80K test, and why private AI stocks are creating chaos onchain. ---

Banks & Warren Unleash ATTACK on CLARITY!!

Gm! In today's episode, we're joined by Eric and Hayden from Jito to discuss Solana Accelerate, the launch of Jito's Maker Prioritization Plugin, and broader efforts to improve Solana's market structure through more deterministic transaction scheduling. We also cover validator incentives, BAM architecture, plugin experimentation, perp and prediction markets, tokenized assets, and why user experience and distribution will be critical for driving on-chain trading adoption. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Jito: https://x.com/jito_sol Follow Hayden: https://x.com/magicdhz Follow Eric: https://x.com/gzalz_sol Follow Sam: https://x.com/minnus Follow Carlos: https://x.com/0xcarlosg Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (2:23) Solana Accelerate Recap (6:22) Jito's Maker Prioritization Plugin (9:56) Why Scheduler Rules Matter (13:42) Bam Adoption and Validator Incentives (18:22) Competing for Top of Batch (22:42) Faster Onchain Time (29:12) Bam After Solana Upgrades (34:13) Plugins Unlock New Use Cases (38:57) Building for Perps (41:32) What Better Market Structure Enables (49:06) UX, GTM, and Card Markets (56:05) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Danny, and our guests may hold positions in the companies, funds, or projects discussed.

In today's episode, we're diving into the state of tokenization, unpacking what “real usage” actually looks like beyond headlines. Plus, the TradFi onchain vibe shift happening at conferences.We discuss:- The suits takeover and the Agora side-event- TradFi players moving onchain (Bloomberg, S&P, and more)- “Crypto is fintech now” and the industry narrative split- State of Tokenization dashboard- Transferability vs composability: what actually makes assets useful- Permissioned wrappers, regulatory constraints, and 24/7 markets- How DeFi can learn from curated collateral standards (Morpho)- Why real estate is uniquely hard to tokenize- Better tokenization metrics: wallets, velocity, volume, DeFi deployment- Perp rails and Hyperliquid catching TradFi attention- What's next: how much TradFi volume moves onchainAnd more—enjoy—Timestamps:(00:00) Intro(03:21) TradFi moves onchain(04:35) Crypto becomes fintech(15:57) State of tokenization dashboard(20:55) Redemption frictions and heatmap(27:21) Morpho collateral rating lessons(30:35) Wrappers vs composability limits(36:55) Real estate tokenization problems(41:35) Metrics beyond tokenized value(44:22) Perps and Hyperliquid draw(52:27) Outro—Content links:Tokenization Report: https://panteracapital.com/state-of-tokenization-q1-2026-pdf/State of Tokenization Data Portal: http://tokenization.panteracapital.com/—NEW: Join the Indexed Pod group chat:https://t.me/+Jmox7c6mB8AzOWU0And our new website is live:https://indexedpod.com—Follow the co-hosts:https://x.com/hildobbyhttps://x.com/0xBoxerhttps://x.com/sui414Follow the Indexed Podcast:https://x.com/indexed_pod—The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry, with a new episode every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby @0xBoxer @sui414.Subscribe/follow the show and leave a comment to help us grow the show!—DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.

Johann Kerbart joins The Rollup in Miami for Tokenized Summit to cover how Robinhood hit $1B in crypto revenue, and tokenization, perps, plus more. Johann Kerbart is SVP & GM of Crypto at Robinhood.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro00:04 Robinhood Since 201801:06 Prediction Markets 320%02:30 The Super App Vision02:52 Exchanges As Commodity03:32 Robinhood As DeFi Front End04:31 Abstracting DeFi Complexity05:18 Tokenized Stocks In EU06:09 Perps vs. Options Debate06:49 Perps Live In EU07:42 CFTC & US Perps Path08:05 Stablecoin Yield Clarity10:17 Bold Prediction: Tokenization11:07 Global Asset Access12:11 Korean & Chinese Markets13:03 DTCC Tokenization Service15:18 Hood vs. Hyperliquid---Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Gm! In today's episode, we're joined by Aya Kantorovich, Co-CEO of Upshift, to discuss the development of multi-chain vault infrastructure, its origins in onchain prime brokerage, and key lessons from past market failures. We cover security risks, institutional adoption, evolving regulation, cross-chain expansion, and broader trends including 24/7 markets, credit strategies, and tokenized assets. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Upshift: https://x.com/upshift_fi Follow Aya: https://x.com/aya_kantor Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:24) Upshift's Vault Origin (5:41) Customer Demand Shapes Product (9:18) Vault Security and Risk (17:49) Why Institutions Want Vaults (24:53) Solana Vault Roadmap (32:53) Avoiding Mercenary Capital (38:32) Regulation Gets Easier (42:46) 24/7 Markets and Perps (56:48) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Danny, and our guests may hold positions in the companies, funds, or projects discussed.

Gm! In today's episode we discuss Solana's Q1 performance, highlighting growth in tokenized real-world assets and shifting trading activity. We also cover Pumpfun's buyback changes, Pumpcade's token-equity model, and broader challenges in building competitive perpetuals markets on Solana, including liquidity, user acquisition, and infrastructure constraints. Enjoy! -- Follow Lightspeed: ⁠https://x.com/Lightspeedpodhq Follow Toma: https://x.com/toma_adv Follow Sam: https://x.com/minnus Follow Carlos: https://x.com/0xcarlosg Follow Danny: https://x.com/defi_kay_ Join the Lightspeed Telegram: ⁠https://t.me/+QHlbNTNS4gc1ZTVh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (2:53) RWA Momentum Builds (9:17) Pump Fun Buyback Burn (20:44) Pump Cade's ACE Experiment (32:10) Solana Perps Debate (37:55) Bulk's Validator Sidecar Bet (51:31) Phoenix's Onchain Bet (53:45) Closing Comments -- Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Danny, and our guests may hold positions in the companies, funds, or projects discussed.

War Room Louisiana Mall Shooting Leaves 2 Critical, Perps At Large, Trump Directs US Navy to ‘Shoot and Kill' Mine-Laying Boats in Hormuz Strait…PLUS, Onion Wants To Wear Alex Jones As Skin Suit

In this episode, Shaundadevens outlines the thesis that 24/7 equity perpetuals will become a major theme. He explains why perpetuals outperform options for price exposure, evaluates market size and infrastructure requirements, highlights Hyperliquid and TradeXYZ, and examines silver and crude oil case studies demonstrating efficiency and weekend price discovery. Thanks for tuning in! As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice. -- Follow Blockworks Research: https://x.com/blockworksres Follow Shaundadevens: https://x.com/shaundadevens -- Subscribe on YouTube: https://bit.ly/3foDS38 Subscribe on Apple: https://apple.co/3SNhUEt Subscribe on Spotify: https://spoti.fi/3NlP1hA Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:15) Why Perps Beat Options (5:00) Why Hyperliquid and TradeXYZ Win (7:26) Silver and Crude Oil Case Studies (10:23) Weekend Pricing Works (11:36) Closing Comments -- 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 0xResearch 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. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.

Trading in Telegram with Wallet in Telegram's Chief Strategy Officer. Halil Mirakhmed, CSO of Wallet in Telegram, joins CoinDesk's Jennifer Sanasie to discuss the platform's new perpetual futures product, which enables users to trade directly within the app alongside built-in risk management and educational guardrails. Leveraging Telegram's 1 billion monthly active users, Wallet aims to bridge the gap between social messaging and advanced financial tools. - Timecodes: 00:00 - Introducing Telegram's New Perpetual Futures Product 01:01 - How The Perps Feature Works 02:07 - How Telegram Wallet Simplifies Complex Trading 03:12 - The Strategy Behind Telegram's Risk Guardrails 04:50 - Onboarding 1 Billion Users to Crypto Safely 06:21 - The Convergence Between Finance and Social - This episode was hosted by Jennifer Sanasie.

Crypto's vibe check time: Jez (izebel_eth) joins the crew to dissect whether idealism is RIP, if cypherpunks should abandon hope, how Memecoins and asset mayhem changed the game, why prediction markets are both truth engines and regulatory minefields, and where real permissionless finance is actually winning in the middle of global chaos. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week the gang is joined by super-perpetuals-junkie Jez for a spicy look at whether crypto has lost its soul — or if things are just getting interesting. Is crypto's vibe shift just growing pains, or did Memecoins and jaded traders nuke our idealism for good? The crew rehashes dreams of cypherpunk glory, debates the “death of the dream,” and gets existential about crypto's place in a world where everything is either a commodity, a meme, or a permissionless financial machine. Plus: War in Iran sends TradFi running, but DeFi markets are live, and prediction markets step up just as the regulators get weird. Enough nostalgia — let's get into it. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights