As tensions flare between Iran and Israel, investors are watching oil, gold, and, of course, crypto. In this episode of Bits + Bips, the panel digs into the market response to war risk, the chances the Fed will actually cut rates, and how Circle’s IPO is being treated more like a meme stock than a fintech play.

Plus:

Why Scaramucci says we’re all living in a surveillance state 

Whether stablecoins are being kneecapped by U.S. regulation 

When altcoin ETFs are coming

And what BlackRock’s Larry Fink secretly told Scaramucci about Bitcoin in 2021 👀

Sponsor:

Bitwise

James Seyffart, Research Analyst at Bloomberg Intelligence

Alex Kruger, Founder of Asgard

Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 

Anthony Scaramucci, Founder of SkyBridge

US-Iran-Israel war

Unchained: Bitcoin Dips Below $100K as U.S.–Iran Tensions Trigger $627M in Liquidations

Polymarket: Will Iran close the Strait of Hormuz before July?

WSJ: What Israel’s Soaring Markets Are Saying About the Iran War

Macro

WSJ: Fed’s Bowman Says She Could Support a July Interest-Rate Cut

CNBC: Fed Governor Waller says central bank could cut rates as early as July

FT: Jay Powell to push back on calls for Federal Reserve rate cuts as soon as July

Stablecoins

WSJ: Stablecoin World Opens Up to Main Street Banks

The Block: Circle's post-IPO stock surge pushes market cap near Coinbase and USDC

ETFs

James upped the odds on a bunch of altcoin spot ETFs

Timestamps:

🎬 0:00 Intro

🌍 2:51 Are there lessons in how the markets shrugged off the Iran-Israel conflict?

🔥 9:37 What flashpoints in the Middle East could ignite next

🛢️ 14:40 Will oil supplies remain safe?

💸 22:13 Are cracks finally forming in the Fed’s resistance to rate cuts?

📉 28:08 Why Anthony believes that Fed Chair Powell is playing politics with rates

🇺🇸 33:55 Whether TACO Trump or tough Trump will show up on tariff day

🎯 36:26 What Anthony says that people get wrong about Trump’s economic strategy

🏦 43:52 Why Circle’s IPO feels more meme than fintech and what Larry Fink once secretly told Anthony about bitcoin 👀

🚫 50:27 One thing that Anthony HATES about the GENIUS Act

📊 56:17 Why James is upping his odds on a wave of altcoin ETFs, but doesn’t expect many to be successful products

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