Unchained

Bits + Bips: Why the Stock Market Wipeout Might Not Achieve What Trump Wanted - Ep. 802

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The financial market is getting wrecked, inflation is still a problem, and bitcoin isn’t acting like the hedge that it’s supposed to be. Is this a real economic shift, or just noise?

With tariffs, stagflation fears, and fiscal dominance taking center stage, hosts James Seyffart, Joe McCann, Ram Ahluwalia and Noelle Acheson break down:

  • Why markets are struggling—and whether a recession or stagflation is coming
  • Whether the Fed has become irrelevant
  • How the stablecoin bill could rescue sales of treasuries
  • Why bitcoin isn’t following gold’s rally
  • The factors that could kickstart the next crypto boom
  • The latest on all the dozens of crypto ETFs in the works


    • Sponsors:

    • Bitwise
    Hosts:
    • James Seyffart, Research Analyst at Bloomberg Intelligence
    • Joe McCann, Founder, CEO, and CIO of Asymmetric
    • Ram Ahluwalia, CFA, CEO and Founder of Lumida
    • Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 
      Links

      The stagflation trade

      • Bloomberg: Stagflation Trade Emerges as Rare Winner in US Stock Market Rout
      • Reuters: Fed's Powell gets chance to address trade war, stagflation fears
      • Tweet by Noah Smith

        Budget bill

        • Wharton: The FY2025 House Budget reconciliation and Trump Administration Tax Proposals: Budgetary, Economic, and Distributional Effects

        Stablecoin bill:

        • Unchained: Stablecoin Bills Could Squeeze Out $140 Billion Tether
        • CoinDesk: U.S. Senate Takes First Big Step to Advance Stablecoin Bill

          • Solana futures

          • Cointelegraph: Solana futures finish first trading day on CME

          Solana ad

          Unchained: Solana Deletes ‘Cringe’ Ad After Crypto Community Backlash


          Timestamps:

          👋 0:00 Intro

          📉 1:39 Stagflation fears and which tariffs actually matter for the economy

          🌎 6:11 Why the outlook for commodities is so uncertain

          📊 10:49 Is the Trump administration sabotaging itself?

          🐶 16:57 Why DOGE’s role in the market is bigger than you think

          📉 23:51 Why the 10-year yield isn’t dropping as expected

          💰 28:04 Will shrinking liquidity grind the market to a halt?

          🏛️ 32:37 Why the Fed has become irrelevant

          🔄 36:53 Is quantitative tightening (QT) ending? Plus, one key thing crypto investors don’t get

          ⚠️ 41:13 Why a recession is not a foregone conclusion

          🥇 48:25 Gold is hitting all-time highs—so why isn’t bitcoin following?

          🏦 51:24 How the stablecoin bill could save US government finances

          🚀 1:01:47 How bitcoin gets its next rally 

          📉 1:07:16 The hidden benefit of CME SOL futures

          ✅ 1:12:15 The latest on pending crypto ETF approvals

          📣 1:17:26 Reactions to the controversial Solana ad

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          UnchainedBy Laura Shin