Crypto Options Unplugged

In this week’s Crypto Options Unplugged, Imran Lakha and David Brickell are joined by Andrew Theodosiou, Director of Sales at Talos, to discuss how institutional adoption is accelerating and why digital asset infrastructure is rapidly converging with traditional finance.

Andrew explains how banks, hedge funds, ETF providers, and trading firms are moving beyond simply offering crypto exposure and are now investing in tokenization, stablecoins, prediction markets, perpetual futures, and 24/7 trading infrastructure. The discussion explores why regulatory clarity has removed much of the career risk around digital assets and why institutions are now building multi-year strategies rather than waiting on the sidelines.
The conversation then shifts to the long-term investment case for Bitcoin, stablecoins, and tokenized assets. The panel debates whether Bitcoin will ultimately become digital gold, why stablecoins represent crypto’s clearest real-world use case, and how tokenization could transform everything from payments to securities trading over the coming decade.
The episode concludes with a macro and options market update, covering Bitcoin’s current positioning, the four-year cycle, whale accumulation, volatility dynamics, and why patience and disciplined positioning may offer a better strategy than trying to perfectly time the next crypto bull market.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.#crypto #trading #cryptocurrencynews #podcast

In this week’s Crypto Options Unplugged, Imran Lakha and David Brickell break down the latest macro developments following the Federal Reserve meeting, examining why markets may have overreacted to the Fed’s seemingly hawkish stance and what falling oil prices, declining inflation expectations, and shifting real yields could mean for Bitcoin and risk assets.The discussion explores the rotation taking place beneath the surface of equity markets, questioning whether the AI trade is beginning to cool and if capital could gradually find its way back into crypto. The pair also analyse Bitcoin’s current market structure, options positioning, volatility, and why the asset may be in a bottoming process despite persistent bearish sentiment.The episode also dives into the growing concerns surrounding Strategy (formerly MicroStrategy), the debate over its capital structure and preferred securities, and whether fears of a forced Bitcoin liquidation are justified. Finally, Imran and David discuss why patience, disciplined positioning, and avoiding leverage remain critical as investors prepare for the next phase of the crypto cycle.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.#crypto #trading #cryptocurrencynews #podcast

In this week’s Crypto Options Unplugged, Imran Lakha and David Brickell sit down with Andrew Melville, Head of Research at Block Scholes, to explore one of the most important shifts happening in crypto today: the acceleration of institutional adoption and the emergence of prediction markets as a new financial primitive.Andrew shares how Block Scholes has become a leading provider of crypto derivatives and volatility data, supplying institutions, hedge funds, exchanges, and even Bloomberg. The discussion examines why institutional interest is no longer a future narrative but a present reality, with banks, structured product desks, and traditional financial firms increasingly building crypto capabilities despite challenging market conditions.The conversation then turns to market structure, Bitcoin’s resilience amid macro uncertainty, ETF flows, volatility dynamics, and the growing influence of AI-driven capital allocation. The trio debate why crypto volatility remains subdued despite large price swings, and how institutional capital may reshape the industry over the coming years.Finally, Andrew provides his perspective on prediction markets, the evolution of decentralized finance, and why the next wave of growth may come not from speculation alone, but from real-world applications and infrastructure being built today.

#crypto #trading #cryptocurrencynews #podcast

In this week’s Crypto Options Unplugged, Imran and David are joined by Jonathan Issan, Co-Head of Crypto Trading at Marex, for an institutional deep dive into how crypto markets have evolved from a retail-driven ecosystem into a mature asset class attracting hedge funds, pension funds, banks, and global asset managers.Jonathan shares his journey from equity derivatives and high-frequency trading into crypto, reflecting on the industry's rapid evolution through major events including FTX, banking crises, regulatory shifts, and the arrival of institutional infrastructure. The discussion explores how the launch of spot Bitcoin ETFs fundamentally changed market structure, accelerating institutional adoption and cementing Bitcoin's place within traditional portfolios.The conversation then examines why volatility has continued to decline despite periodic market drawdowns. Jonathan argues that increasing institutional participation, sophisticated market-making, improved risk management, and growing derivatives liquidity have made crypto markets more resilient and efficient than in previous cycles. The team also discusses shrinking basis opportunities, the rise of structured products, hedge fund participation, and whether options markets are becoming large enough to influence spot price behaviour.The episode concludes with insights into institutional demand for Bitcoin exposure, the growing role of structured products, and why crypto's integration into global capital markets may still be in its early stages despite significant progress over the past several years.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

In this week’s Crypto Options Unplugged, Imran and David are joined by Jamie Knowles, Head of Capital Markets at Smarter Web, for a deep dive into one of the biggest emerging themes in crypto: Bitcoin treasury companies and the financial engineering now driving corporate Bitcoin accumulation.
Jamie explains how Smarter Web evolved from a traditional web design and digital marketing company into the UK’s largest listed Bitcoin treasury company, now holding nearly 2,900 BTC on its balance sheet. The discussion breaks down the core value proposition of Bitcoin treasury firms versus simply holding spot Bitcoin or ETFs, focusing on how access to capital markets can increase Bitcoin exposure per share over time.

The conversation then moves into the mechanics behind corporate Bitcoin accumulation, including convertible bonds, preferred equity structures, ATMs, and how companies like Strategy and Strive are tapping fixed income markets to fund additional Bitcoin purchases. Jamie also explains the concept of “digital credit” and why preferred yield products backed by Bitcoin are attracting investor attention despite the broader market feeling heavy.

The team also discusses current crypto sentiment, why Bitcoin has struggled despite massive corporate buying, and how institutional capital may continue to reshape the market structure over the coming years. Broader macro themes including fiat debasement, capital rotation, volatility suppression, and the growing role of financial innovation in crypto are explored throughout the episode.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

In this week’s Crypto Options Unplugged, Imran and David are joined by special guest Andreja Cobeljic, Head of Derivatives at Amina Bank, for a wide-ranging discussion on crypto market structure, institutional flows, macro regime shifts, and why crypto still feels stuck despite a structurally bullish long-term backdrop. Andrea shares his journey from JP Morgan and Goldman Sachs proprietary trading desks into crypto, explaining how a move to Switzerland’s Crypto Valley and a deep dive into the Bitcoin whitepaper completely changed his perspective on digital assets. The conversation explores how institutional traders view Bitcoin—not just as a speculative asset, but as part of a broader shift in financial architecture.The team then unpacks the current crypto market malaise. Despite long-term bullish conviction, realised volatility remains muted, flows feel one-directional, and markets appear trapped in a narrative vacuum. They debate whether Bitcoin’s current structure is overly dependent on concentrated buying, what’s missing to reignite broader participation, and whether apathy—not fear—is the dominant emotion in crypto right now.The macro conversation expands into bond markets, inflation, capital rotation, and the possibility that traditional market relationships are breaking down. The discussion explores whether investors are structurally moving away from sovereign bonds toward equities and hard assets as purchasing power concerns rise, and where Bitcoin fits into that evolving framework.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

In this episode of Crypto Options Unplugged, Imran and David break down the macro forces driving crypto markets before diving into a deep conversation with Max Gokhman, Head of Artificial Intelligence and Digital Assets at Franklin Templeton. The team explores how geopolitical tensions, elevated oil prices, inflation expectations, bond market volatility, and central bank policy uncertainty are tightening liquidity and weighing on risk assets. They also debate whether markets are overpricing rate hike risks and what a higher inflation / steady Fed environment could mean for equities, Bitcoin, and broader crypto.The conversation then shifts to AI, where they debate whether the current AI boom is a sustainable secular trend or the early stages of a speculative bubble. Key themes include hyperscaler infrastructure spending, semiconductor demand, monetisation risks, and whether all major AI players can justify current valuations.In the featured interview, Max Gokhman shares his macro investing background and explains why Franklin Templeton is leaning into the convergence of AI and digital assets. The discussion covers institutional adoption, tokenisation, blockchain infrastructure, crypto regulation, and why digital assets may be evolving faster than price action suggests. The episode closes with a long-term view on crypto positioning and why patience may still be rewarded.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

Imran and David explore the recent "slow grind higher" of Bitcoin as it digests overhead supply, contrasting crypto’s low volatility with the explosive, retail-driven gamma frenzy currently fueling AI and semiconductor stocks. They argue that despite "sticky" price levels, a highly supportive macro environment marked by surging bank repo liquidity, declining bond volatility, and the Fed’s willingness to tolerate inflation is creating a massive tailwind for risk. Ultimately, they conclude that while AI is currently capturing the "hot money," the ongoing expansion of the monetary base reinforces the long-term necessity of owning hard assets like Bitcoin as a hedge against inevitable currency debasement.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

In this episode of Crypto Options Unplugged, Imran Lakha (Options Insight) and David Brickell (FRNT) are joined by James Brownlee, CEO of T-0 Network, to discuss the massive shift in how money moves across borders. We kick off with a look at Bitcoin’s "grindy" price action as it targets the $85,000 level, exploring why institutional inflows and negative real yields are fuelling this outperformance over altcoins.
Then, we dive deep into the world of Stablecoins. James explains how T-0 is bypassing the slow, opaque, and expensive legacy SWIFT system to enable near-instant, "fiat-to-fiat" global settlements using USDT.

Key topics covered:

• BTC Market Analysis: Why 85K is the next big level to watch.
• The Stablecoin Paradigm Shift: Why 95% of the market still relies on the USD.
• Regulatory Fragmentation: The impact of MiCA in Europe vs. the US "Clarity Act."
• Fixing Global Remittances: How blockchain makes cross-border payments feel as fast as local ones.
• Institutional Adoption: How the world’s biggest banks are reacting to the threat of T-Zero settlement.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

In this episode, Imran Lakha  (Options Insight) and David Brickell (FRNT) dissect a "grindy" market where crypto seems to be falling asleep while equities and semiconductors go parabolic. We explore the growing decoupling between Bitcoin and the resurgent tech sector, diving deep into the massive supply overhead at the $80k level and the "yield hunting" trend dominating the options space. Beyond crypto, we analyze the "headline fatigue" surrounding geopolitical conflicts, the alarming risk of a manufacturing shutdown due to dry supply chains in the Strait of Hormuz, and how a "transitory" oil shock is actually driving real rates lower—creating a surprisingly bullish (if volatile) backdrop for risk assets.

Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.