Empire

This week Jordi Alexander joins the show live from the Origin Summit, hosted by Story and Blockworks alongside Forward Guidance host Felix Jauvin. We deep dive into where are we in the cycle, is DAT season over, finding opportunity as an investor & more. Enjoy!

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Follow Jordi: https://x.com/gametheorizing

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

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

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Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

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Timestamps:

(0:00) Introduction

(1:33) Where Are We In The Cycle?

(4:40) Perp DEXs

(8:49) What To Focus On As An Investor

(11:06) Is DAT Season Over?

(16:41) Final Thoughts

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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, and our guests may hold positions in the companies, funds, or projects discussed.

This week Mike Novogratz joins the show to reflect on his path from a successful trading career to building and running Galaxy. We deep dive into the state of markets, what defines the most successful macro traders, Galaxy's AI data center opportunity, running a public company & more. Enjoy!

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Follow Mike: https://x.com/novogratz

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

--

Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.

Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!

--

peaq, the Machine Economy Computer, proudly sponsors the Empire podcast.

peaq is home to 60+ apps across 20+ industries and millions of devices, machines, and onchain robots.

It powers the world’s first tokenized robo-farm, launching soon in Hong Kong, and has launched the Machine Economy Free Zone in Dubai as a Web3 x Robotics x AI innovation hub.

For more about peaq, check out www.peaq.xyz

--

Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.

Key elements for Mantle as the ""Blockchain for Banking"":

- Transactions posted to the blockchain

- Compatibility with TradFi rails

- Integrated DeFi features

Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.

Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'.

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GEODNET is the world’s largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries.

Discover how GEODNET is changing the world: [https://geodnet.com]

--

Timestamps:

(00:00) Introduction

(06:32) Mike's Outlook For Markets in 2025

(14:53) Are Markets Frothy, AI Capex & The Minsky Moment

(24:26) Ads (Blockdaemon, Peaq)

(25:36) What Will The Next Four Years For Crypto Look Like?

(30:44) What Makes The Most Successful Macro Traders?

(40:25) Ads (Blockdaemon, Peaq)

(41:35) Hyperliquid

(44:19) The AI Data Center Buildout

(54:34) Ads (Mantle, Geodnet)

(55:59) Galaxy's Crypto Business

(59:06) Tokenizing Galaxy's Stock

(01:03:14) Running A Public Company & The IPO Window

(01:07:03) Final Thoughts

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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, and our guests may hold positions in the companies, funds, or projects discussed.

This week we're back to discuss the top stories of the week. We deep dive into the state of markets, Tether looking to raise $20B at a $500B valuation, Aster vs Hyperliquid, crypto IPOs in 2025-26 & more. Enjoy!

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Follow Santi: https://x.com/santiagoroel

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

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Ansem's outlook on markets: https://x.com/blknoiz06/status/1970107553079079341

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Crypto’s premiere institutional conference returns to London in October 2025. Use code EMPIRE100 for £100 off at checkout: https://blockworks.co/event/digital-asset-summit-2025-london

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Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.

Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!

--

peaq, the Machine Economy Computer, proudly sponsors the Empire podcast.

peaq is home to 60+ apps across 20+ industries and millions of devices, machines, and onchain robots.

It powers the world’s first tokenized robo-farm, launching soon in Hong Kong, and has launched the Machine Economy Free Zone in Dubai as a Web3 x Robotics x AI innovation hub.

For more about peaq, check out www.peaq.xyz

--

Timestamps:

(00:00) Introduction

(02:32) Are Markets A Little Too Frothy?

(06:43) The Stablecoin Thesis

(10:43) Takeaways From The Origin Summit

(13:53) Ansem’s Outlook On Markets

(22:49) Tether Raising $20B at $500B Valuation

(26:26) Ads (Blockdaemon, Peaq)

(27:26) Aster vs Hyperliquid

(39:23) BitGo Files Their S-1

(50:28) Ads (Blockdaemon, Peaq)

(51:36) Crypto IPOs In 2026

(55:02) Cloudflare Issuing A Stablecoin

(59:06) Zerohash Raises $100M At $1B Valuation

(01:01:48) Content Of The Week

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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, and our guests may hold positions in the companies, funds, or projects discussed.

This week Dan Morehead joins the show to discuss the current state of markets & what's next throughout 2025 into 2026. We deep dive into how Dan built conviction in crypto as an asset class back in 2013, does the four year cycle still exist, crypto treasury vehicles, Dan's Solana thesis & more. Enjoy!

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Follow Dan: https://x.com/dan_pantera

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

--

Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.

Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!

--

Welcome to Get Real — Web3’s first-ever campaign rewarding you for creating real-world value. Connect your devices to real-world apps on peaq and earn rewards for:

Measuring noise pollution

Providing compute

Mapping the word And more

Total prize pool: 5% of $PEAQ’s initial supply. Get Real is relaunching soon — follow peaq on X and get ready.

--

Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.

Key elements for Mantle as the ""Blockchain for Banking"":

- Transactions posted to the blockchain

- Compatibility with TradFi rails

- Integrated DeFi features

Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.

Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'.

--

GEODNET is the world’s largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries.

Discover how GEODNET is changing the world: [https://geodnet.com]

--

Timestamps:

(00:00) Introduction

(02:44) Buying Bitcoin In The Early Days

(07:11) Dan's Macro Outlook In 2025

(17:14) Ads (Blockdaemon, Peaq)

(18:44) Does The Four Year Cycle Still Exist?

(27:39) Phase II of The Bull Market

(29:49) The Crypto IPO Window Is Open

(32:44) Ads (Blockdaemon, Peaq)

(34:13) Crypto Treasury Vehicles

(40:30) The Solana Thesis: Why Pantera Owns $1bn+ Solana

(42:45) Are Institutions Still Underallocated To Crypto?

(46:33) Ads (Manttle, Goednet)

(47:59) Launching Crypto's Longest Running Fund

(55:07) Advice For Founders

(57:50) Crypto's Biggest Opportunity In The Next 5 Years

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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, and our guests may hold positions in the companies, funds, or projects discussed.

We're back to discuss the top stories of the week. We deep dive into Pump Fun & the future of media, why there is so much uncertainty despite massive positive tailwinds for crypto, Plasma's success story, is Base launching a token & more. Enjoy!

--

Follow Rob: https://x.com/HadickM

Follow Santi: https://x.com/santiagoroel

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

--

Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.

Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!

--

Welcome to Get Real — Web3’s first-ever campaign rewarding you for creating real-world value. Connect your devices to real-world apps on peaq and earn rewards for:

Measuring noise pollution

Providing compute

Mapping the word And more

Total prize pool: 5% of $PEAQ’s initial supply. Get Real is relaunching soon — follow peaq on X and get ready.

--

Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.

Key elements for Mantle as the ""Blockchain for Banking"":

- Transactions posted to the blockchain

- Compatibility with TradFi rails

- Integrated DeFi features

Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.

Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'.

--

Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.

Read The Productive Treasury Report: https://liquidcollective.io/corporate-treasury-staking/

--

Timestamps:

(00:00) Introduction

(01:15) Pump Fun, Livestreaming & The Future Of Media

(14:48) Stablecoins

(16:06) Ads (Blockdaemon, Peaq)

(17:34) We’re Still In A Bull Market, It’s Still Not The One You Wanted

(26:01) Why Has Plasma Been So Successful?

(36:19) How To Develop A Successful Ecosystem

(45:52) Ads (Blockdaemon, Peaq)

(47:20) More DATs & ETFs Are Coming

(57:40) CFTC Updates

(01:00:30) Ad (Mantle, Eigen Layer)

(01:02:04) Is Base Launching A Token?

(01:14:54) Content Of The Week

—

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, and our guests may hold positions in the companies, funds, or projects discussed.

This week, the Hivemind team discusses the state of crypto markets after the Fed just lowered interest rates by 25bps. We deep dive into what will outperform going forward, the rise of SOL DATs, is it still time to be bullish, Pump Fun & more. Enjoy!
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Follow Ceteris: https://x.com/ceterispar1bus
Follow Jason: https://x.com/3xliquidated
Follow Yan: https://x.com/YanLiberman
Follow Jose: https://x.com/ZeMariaMacedo
Follow Empire: https://x.com/theempirepod
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Subscribe on YouTube: https://bit.ly/4jYEkBx
Subscribe on Apple: https://bit.ly/3ECSmJ3
Subscribe on Spotify: https://bit.ly/4hzy9lH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Timestamps:

(0:00) Introduction

(0:58) The Rate-Cut Cycle Begins

(4:29) State Of The Market

(7:56) Crypto’s Mag7 Moment

(13:16) Are SOL DATs Bullish For Solana DeFi?

(24:27) Pump Fun

(40:14) CZ Launches Aster, Hyperliquid Unlocks & The L1 Premium

(53:07) Base Token Launch Coming?
--
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, the Hivemind team, and our guests may hold positions in the companies, funds, or projects discussed.

This week Kyle Samani joins the show to discuss the successful $1.65B raise for Forward Industries. We deep dive into how Forward Industries plan to converge between traditional markets & DeFi, the ultimate vision for the Solana treasury company, the difference between SOL & BTC DATs & why stablecoins are crypto's iPhone moment. Enjoy!

Although our guest this week is an Investment Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin’s investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.
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Follow Kyle: https://x.com/KyleSamani
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
--
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
--
Welcome to Get Real — Web3’s first-ever campaign rewarding you for creating real-world value. Connect your devices to real-world apps on peaq and earn rewards for:

Measuring noise pollution
Providing compute
Mapping the word And more

Total prize pool: 5% of $PEAQ’s initial supply. Get Real is relaunching soon — follow peaq on X and get ready.
--
Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.

Read The Productive Treasury Report: https://liquidcollective.io/corporate-treasury-staking/
--
Timestamps:

--
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, and our guests may hold positions in the companies, funds, or projects discussed.

We're back to discuss the top stories of the week. We deep dive into how crypto can redefine private equity, who wins from the battle for USDH, Figure's IPO, could DeFi projects go public & more. Enjoy!
--
Follow Rob: https://x.com/HadickM
Follow Santi: https://x.com/santiagoroel
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
--
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

Referenced in the show:

- Transactions posted to the blockchain
- Compatibility with TradFi rails
- Integrated DeFi features

Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.
Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'."
--

Timestamps:

(00:00) Introduction

(02:50) Inversion Raises $26.5M

(10:51) A New Era For Private Equity

(25:54) Hyperliquid’s USDH Proposal

(47:31) Ads (Mantle, Geodnet)

(48:54) The Stablecoin Superbowl: Who Wins?

(1:02:08) Takeaways From Figure’s IPO

(01:14:45) Could DeFi Projects Go Public?

(01:16:37) Content Of The Week

—

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, and our guests may hold positions in the companies, funds, or projects discussed.

This week Guy Young joins the show to discuss the next chapter for Ethena. We deep dive into Ethena's business model, how DATs could enable DeFi's breakout moment, how Ethena will scale in the future, advice for founders & more. Enjoy!

--

Follow Guy: https://x.com/gdog97_

Follow Jason: https://x.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

--

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Start your day with crypto news, analysis and data from David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

--

Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.

Read The Productive Treasury Report: https://liquidcollective.io/corporate-treasury-staking/

--

Timestamps:

(00:00) Introduction

(03:29 )The Ethena Business Model

(07:04) Valuations & VC Unlocks

(12:44) The Ethena DAT (StablecoinX)

(15:11) Are DATs Sustainable?

(18:36) DeFi’s Breakout Moment

(24:12) Partnering With Pendle & Aave

(31:49) Ads (Eigen Layer)

(32:48) Advice For Founders

(37:34) How Does Ethena Scale

(44:18) What Is iUSDe?

(47:47) Hyperliquid Is Launching A Stablecoin (USDH)

(53:39) Corporate Chains

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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, and our guests may hold positions in the companies, funds, or projects discussed.

Gm! This week we're back to discuss the top stories of the week. We deep dive into the mechanics behind DATs, the WLFI token launch, Stripe's announcement of Tempo, onchain equities & more. Enjoy!

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Timestamps:

(00:00) Introduction

(04:24) Are DAT Mechanics Sustainable?

(16:23) Do DATs Actually Unlock Token Access?

(21:48) Ads (Bitwise)

(22:34) Breaking Down The $WLFI Token Launch

(33:46) Stripe Launches Tempo

(49:12) Ads (Bitwise, Mantle, Eigenlayer)

(51:27) Onchain Equities & Tokenization

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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.