Bell Curve

This week, Michael and Vance discuss recent market volatility, crypto legislation,interest rate and housing market outlooks, Tom Lee and BitMine developments, AI industry consolidation, and emerging onchain business models.

Thanks for tuning in!

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Follow Michael: https://x.com/im_manderson

Follow Vance: https://x.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

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TIMESTAMPS

(00:00) Introduction

(01:21) Market Outlook

(11:39) Interest Rates and the Housing Market

(19:32) Thoughts on the Fed Chair

(21:17) Tom Lee and BitMine

(29:13) The AI Space Today

(37:27) Cult Stocks

(43:06) Lighter vs Hyperliquid

(46:38) Closing Comments

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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.

This week, we unpack rising market euphoria, sector rotations and why consumers are suddenly back in focus. We also dig into Fed constraints, Japan’s endgame, Bitcoin waking up, and more. Enjoy!

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Follow Tyler: https://x.com/Tyler_Neville_

Follow Quinn: https://x.com/qthomp

Follow Felix: https://twitter.com/fejau_inc

Follow Forward Guidance: https://twitter.com/ForwardGuidance

Follow Blockworks: https://twitter.com/Blockworks_

Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx

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Weekly Roundup Charts: https://drive.google.com/file/d/1vs0cYl__KxtoSrvj2Gs9bKGQ2SedlY1g/view?usp=sharing

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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

—

Timestamps:

(00:00) Introduction

(02:24) Markets Too Hot & Sector Rotations

(12:14) Katana Ad

(12:37) Trump’s Shift To Main St.

(24:48) Fed, Rates & Tariffs

(29:48) Katana Ad

(30:19) CapEx & Credit Financing

(34:58) Bitcoin Catching Up To Metals

(42:45) Japan Endgame

(48:06) Final Thoughts

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Disclaimer: Nothing said on Forward Guidance 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 opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

#Macro #Investing #Markets #ForwardGuidance

In this episode, we trace how open-source software shaped crypto, why value capture remains hard beyond Layer 1s, how rollups and infrastructure borrowed the wrong mental models, and where AI is forcing a rethink of software business models, incentives, and trust. Enjoy!Thanks for tuning in!

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Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

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/

—--

Timestamps

(00:00) Introduction

(01:49) The Evolution of Software and Open Source

(08:13) Red Hat and Commercial Open Source Software

(14:41) The Rise of Open Core Companies

(19:21) Cloud Computing and Open Source Software

(21:40) The Intersection of Open Source and Crypto

(23:17) The Role of Layer 1s in Monetization

(29:22) Layer 2s: Business Models and Challenges

(55:30) AI’s Disruption of B2B SaaS and Open Source

(01:04:41) Final Thoughts

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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.

This week, Mippo, Myles, and Xavier sat down to discuss their predictions for 2026! They cover ecosystems, corporate chains, DeFi themes, venture capital, prediction markets, and AI.Thanks for tuning in!

Resources

2025 Year in Review: https://youtu.be/b3OMNMqMof0?si=q5Or5Vcc00kEwxbO

Mippo’s 2026 Predictions: https://x.com/MikeIppolito_/status/2006813164768571857

Mippo on Bankless: https://youtu.be/4R0Xi-XTkt8?si=Hjs4mi3VolsDXs6S

—

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

–

Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

—-

Timestamps

(00:00) Introduction

(01:43) 2026 Overview

(11:07) Katana Ad

(11:29) Ecosystem Predictions

(27:49) Katana Ad

(28:21) DeFi Predictions

(56:37) Venture Capital Predictions

(01:04:55) Prediction Markets in 2026

(01:12:35) Thoughts on AI

(01:17:51) Closing Comments

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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, Myles, Xavier, 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.

This week, Mippo, Myles, and Xavier sat down for the 2025 Year in Review! They cover the biggest winners and losers of 2025, the best and worst calls of the year, the comeback story of the year, and more.

Thanks for tuning in!

--

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

--

Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

--

Timestamps:

(0:00) Introduction

(4:52) 2025 Retrospective

(15:25) Biggest Winners of 2025

(21:24) Katana Ad

(21:53) Biggest Losers of 2025

(29:55) Comeback Story of the Year

(36:31) Most Overhyped Project of 2025

(43:24) Rookie of the Year

(48:02) Katana Ad

(48:40) Best Calls of the Year

(54:00) Worst Calls of the Year

(58:29) Ponzi of the Year

(1:03:58) Best Conference of the Year

(1:05:45) Cockroach of the Year

(1:11:55) Most Underrated Project of the Year

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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.

This week, Michael and Vance joined the show to recap everything that happened in 2025, and give their predictions for 2026. They cover the CLARITY Act, stablecoin growth, prediction markets, and more. Enjoy!Thanks for tuning in!

--

Follow Michael: https://x.com/im_manderson

Follow Vance: https://x.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

--

Timestamps:

(0:00) Introduction

(3:05) 2025 Recap

(13:25) The CLARITY Act's Impact

(26:07) Is This the End of the Four Year Cycle?

(30:30) Stablecoin Growth in 2026

(41:21) The Crypto VC Dynamic

(52:30) Outlook on Prediction Markets

(57:09) 2026 Macro Outlook

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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.

This week, Mippo, Myles, and Xavier sat down to discuss recent events in crypto governance, including Uniswap’s unification plan, Aave’s internal conflict, and Circle’s acquisition of Axelar’s core developers. They dive into token and equity misalignment, investor protections, regulatory challenges, valuation implications, and potential future structures for decentralized protocols.

Thanks for tuning in!

--

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

--

Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

--

Timestamps:

(0:00) Introduction

(4:14) The Token vs Equity Dilemma

(28:11) Katana Ad

(28:39) The Perfect Formula

(38:50) The Axelar Situation

(52:03) Katana Ad

(52:41) Corporate Token Launches & Token Buybacks

(59:43) Closing Comments

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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.

This week, Mippo, Myles, and Xavier sat down to discuss the resurgence of corporate blockchains, tracing their evolution from early “blockchain not Bitcoin” initiatives to today’s enterprise adoption. They analyze the various blockchain models, design tradeoffs, regulatory and strategic factors, and how companies like Stripe and Robinhood approach blockchain integration, and governance.

Thanks for tuning in!

--

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

--

Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

--

Timestamps:

(0:00) Introduction

(5:40) The Origins of Enterprise Blockchain

(16:11) Katana Ad

(16:39) The Different Types of Blockchains

(33:22) Katana Ad

(34:00) Design Tradeoffs

(40:51) What if Corporate Chains Win?

(1:07:12) Path Dependency

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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, Myles, Xavier 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.

This week, Mippo, Myles, and Xavier sat down to discuss platforms in crypto. They define what a platform is, explore Ethereum and Solana as tech platforms versus monetary assets, and debate the merits of product-led vs. developer-led growth go-to-market strategies. They also dive into the challenges of building and scaling ecosystems, and give their thoughts on where true platform value resides in crypto.

Thanks for tuning in!

--

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

--

Follow Myles: https://x.com/MylesOneil

Follow Xavier: https://x.com/0xave

Follow Mike: https://twitter.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/

--

Timestamps:

(0:00) Introduction

(3:25) Defining a Platform

(12:06) Katana Ad

(12:35) Is Ethereum a Tech Platform?

(19:18) Product Led Platforms vs Developer Platforms

(32:56) Ethereum Foundation vs Solana Foundation

(39:04) Katana Ad

(39:41) Go-to-market Strategies Today

(52:35) Where Should Teams Focus?

(1:01:41) True Platforms In Crypto

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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.

In this episode, we’re joined by Hayden Adams and Jesse Walden to discuss Uniswap’s “fee switch”. We cover the proposed “UNIfication” structure, protocol fee mechanics, DUNA legal framework, front-end fee removal, investor alignment, retroactive token burns, and the proposal’s potential industry impact.

Thanks for tuning in!

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Resources

Uniswap’s UNIfication Proposal: https://gov.uniswap.org/t/unification-proposal/25881

Establishing Uniswap as “DUNI”: https://gov.uniswap.org/t/governance-proposal-establish-uniswap-governance-as-duni-a-wyoming-duna/25770

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Follow Hayden: https://x.com/haydenzadams

Follow Jesse: https://x.com/jessewldn

Follow Mike: https://twitter.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/

--

Timestamps:

(0:00) Introduction

(1:09) Unisocks Lore

(2:44) The Gensler Years

(14:17) The UNIfication Proposal

(25:00) Turning Off Frontend Fees

(37:52) Uniswap Design & Investor Alignment

(47:38) Retroactive Token Burn

(51:14) Could Uniswap Labs Ever Go Public?

(55:42) Token Value Accrual

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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.