Empire

In this episode of Empire's Weekly Roundup, Jason is joined by two of Blockworks' top research analysts, Dan Smith and Sam Martin, to discuss this week’s biggest stories.

Highlights include:

-- Is Sudoswap a zero to one moment for NFTs?

-- Is Ethereum's censorship resistance compromised?

-- Will anyone use ETH PoW post-merge?

Tune in to find out!

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Timecodes:

(00:00) Introduction

(00:32) Ethereum's censorship risk, 3 potential outcomes

(11:40) Will the ETH PoW chain have value?

(15:42) FlashBots is open sourcing their relayer software

(19:19) Crypto's reliance on centralized cloud providers

(21:24) Avalanche Ad

(22:52) Sudoswap, a zero to one moment for NFTs?

(33:17) OpenSea vs Sudo

(35:48) Should NFTs have creator royalty fees?

(39:12) Canto, a weird crypto experiment (NFA)

(47:26) Canada enforces new crypto regulation

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Follow Dan: https://twitter.com/smyyguy

Follow Sam: https://twitter.com/swmartin19

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

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

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Referenced in the show:

Blockworks Research

https://www.blockworksresearch.com/

Ape Board (migrated to Nansen Portfolio)

https://portfolio.nansen.ai/

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Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

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

--

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.

In this episode of Empire, Jason and Santi are joined by Jake Brukhman, the founder and CEO of CoinFund, to explore the concept of crypto as a public good. We discuss:

-- How crypto is a public good, and why that's important

-- How public goods can monetize and accrue value

-- How crypto will democratize public goods funding

Tune in for these answers and more!

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Timestamps

(00:00) Introduction

(02:23) Defining Crypto's Value Proposition

(07:17) Private vs Public vs Common Goods

(13:59) Can Public Goods Accrue Value?

(28:41) The Tragedy Of The Commons 

(32:35) What Crypto Skeptics Get Wrong

(38:32) Why Users Will Want Decentralized Networks

(41:50) A New Business Model To Fund Public Goods

(50:03) Rapid Fire Questions

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Follow Jake: https://twitter.com/jbrukh 

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

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

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

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--

The Network State by Balaji

https://thenetworkstate.com/

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

--

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.

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the US Treasury's sanctions on Tornado Cash, Circle freezing USDC transfers, the future of KYC DeFi and more.

Show Highlights:

-- How do privacy protocols work? 

-- Does this ban mean crypto isn't decentralized? 

-- How did Circle freeze the transfer of USDC tokens?

-- Should DeFi protocols be worried?

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Timestamps

(00:00) Introduction

(07:28) Tornado Cash Sanctioned By The US Treasury

(14:44) How Mixers And Privacy Tokens Work

(21:06) Github, Infura, AWS And Crypto’s Centralization Vectors

(23:00) Core Ad

(24:30) USDC Blacklist And Implications For DeFi

(38:05) What Happens If All DeFi Is KYC’d 

(41:54) How Does The Ban Affect Other Privacy Protocols

(43:40) Curve Hack, Coinbase Earnings  

(53:55) Uniswap Protocol Fee And Foundation Approved

(58:46) ETH PoW Chain, Hot Or Not?

(01:03:03) Reddit Embraces Web3

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7 

Subscribe on Spotify: https://tinyurl.com/wbaypprw

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Referenced in the show:

Eric Peters episode

https://tinyurl.com/ydfhu6fd

SWIFT & OFAC episode

https://tinyurl.com/yc2jhfsn

- -

Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

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

-- 

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.

In this episode of Empire, Jason and Santiago are joined by two crypto market experts, Jonah Van Bourg & Genia Mikhalchenko, to discuss the anatomy of a trade. An asset's price is derived from supply and demand, but who provides this liquidity, how are trades executed and what parties are involved?

Tune in to find out & check out the highlights below!

- The role of market makers

- Why liquidity is the lifeblood of trading

- How liquidity providers performed in the recent market crash

- Why trade size matters and the risks of front running

- The 3 most important things when evaluating an exchange

- Understanding counterparty risks

- How much leverage is left in the system

- Consolidation is coming

- Will legacy financial institutions compete with crypto-native service providers

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Follow Genia: https://twitter.com/Genia_xx

Follow Jonah: https://twitter.com/jvb_xyz

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

--

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

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Resources

Cumberland website

https://cumberland.io/

BitMEX website

https://www.bitmex.com/

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(00:00) Introduction

(01:36) How Market Makers Work

(08:42) Operating An Exchange In a Bear Market

(11:10) The Risk of Front Running

(15:47) Understanding Counterparty Risk

(18:50) Balancing Retail & Institutional Liquidity

(25:50) How Much Leverage Is Left In the System?

(32:40) The Relationship Between DeFi and Centralized Services

(37:43) Biggest Opportunities, On and Off Chain

(40:40) Consolidation Is Coming

(43:06) Are Legacy Financial Institutions A Threat to Crypto Service Providers?

(46:32) Rapid Fire Questions

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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.

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the current market, angel investing, and the week's biggest news.

Highlights include:

- Santi's learnings from angel investing

- Why this market is a great setup for investors

- Santi explains why he's over-indexed on ETH

- Over $195M stolen between the Slope and Nomad hack

- Details on the newly launched Synapse chain

- Should protocols vertically integrate or leverage composability

- Magic Eden vs OpenSea

- Coinbase & Blackrock partnership

- Tiffany launched a new IRL NFT project

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

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Referenced in the show:

Twitter accounts to follow

https://twitter.com/adamscochran

https://twitter.com/tayvano_

https://twitter.com/samczsun

https://twitter.com/0xfoobar

Raj tweet on the need for Solana Mobile

https://twitter.com/rajgokal/status/1554889457928613889

Blockworks Research report on Synapse

https://www.blockworksresearch.com/research/synapse/

Empire episode on Layer Zero

https://sptfy.com/KWqY

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Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

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

--

(00:00) Introduction

(02:31) Market Update & Why Santi Is "Feeling Hot"

(05:45) Santi's Angel Investment Strategy 

(17:03) Why Santi Is Over Indexed on ETH

(25:53) Solana (aka Slope) Hack

(35:31) Core Ad

(37:00) Nomad Hacked for $190M 

(40:18) NFTs, the Building Blocks of a Web3 CRM

(46:16) Synapse Launches Their Own Chain

(54:04) Protocol Vertical Integration vs Compatibility

(59:50) Magic Eden & Marketplace Businesses

(1:03:18) Michael Saylor, Coinbase/Blackrock Partnership and Other Headlines

(1:05:43) Coinbase Finds Momentum 

(01:12:38) Tiffany Is Launching 250 Punk Pendants 

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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.

Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/

Use code EMPIRE250 to get $250 off tickets (Only available this week!)

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In this episode of Empire, Jason and Mike are joined by Dan Matuszewski (CMS Holdings) & Avi Felman (GoldenTree). If you don't know these two names, don't forget them - two of the best traders and sources of alpha in crypto.

This episode is one of my favorites yet; check out the highlights below:

- Is macro crypto's master

- This will lead to crypto's divergence with Macro

- How will ETH perform with the merge

- What are the new, hidden narratives

- The tradeoff between CeFi and DeFi

- Is DeFi ready to take off

- Retail open-term lending is dead

- Regulators have two options

- Why VCs are in trouble

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Follow Dan: https://twitter.com/cmsholdings

Follow Avi: https://twitter.com/AviFelman

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

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Subscribe on Spotify: https://tinyurl.com/wbaypprw

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(00:00) Introduction

(01:08) The intersection of macro & crypto

(12:47) How Will ETH's Price React to the Merge?

(17:50) New Narratives & Market Leverage

(25:28) A Catalyst for DeFi

(29:10) What's About to Happen in CeFi?

(31:37) Your DeFi Project Isn't Sexy

(35:45) Can DeFi Tokens Accure Value?

(41:23) Why You Should Avoid Low Float Tokens

(44:27) VCs Are In Trouble

(49:20) Avi and Dan Run Wild

(51:06) Wrapping Things Up

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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.

In this episode of Empire's Weekly Roundup, Jason and Santi are joined by Brett Winton, the Director of Research at ARK invest. We discuss the heated Uniswap fee controversy, token business models, DAO governance and the securitization of everything.

We also discuss ARK's unique investment strategy and crypto thesis. This is one special roundup.

Highlights include:

- How to play the current macro market

- The securitization of everything

- Coinbase's opportunity

- Potential business models for Uniswap

- Will DeFi fees go to zero

- The secret to diversification

- Brett's #1 consideration when hiring

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Follow Brett: https://twitter.com/wintonARK

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

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Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code EMPIRE250 to get $250 off tickets (Only available this week!)

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Referenced in the show:

ARK Invest

https://ark-invest.com/

ARK's Bitcoin Monthly Research

https://ark-invest.com/lp-bitcoin-monthly/

Howard Mark's Letter on being Unconventional

https://www.oaktreecapital.com/insights/memo/i-beg-to-differ

Lido Treasury Sale Proposal

https://research.lido.fi/t/treasury-diversification-2-part-2/2657

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Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

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

--

(00:00) Introduction

(01:47) Where Are Interest Rates Headed?

(08:38) An Inevitable Movie Towards Financial Transparency 

(12:00) Three Revolutions Catalyzed by Bitcoin

(27:52) Ava Labs Core

(29:20) Coinbase and the Securitization of Everything

(41:48) Uniswap fee switch and token business models

(53:16) DAO governance and capital allocation

(59:12) How ARK assesses new investments

(1:06:01) Has inflation peaked, BTC as the reserve asset and more

(1:10:58) Why curiosity is Brett's #1 hiring criteria

(1:17:08) What ARK believes that many others don't (yet)

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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.

In this episode of Empire, Jason and Santi are joined by Erik Voorhees, the founder of Shapeshift and OG of the crypto industry (joining in 2011). Erik believes crypto can change the world, and this episode explores his thesis on Bitcoin's future, on-chain maximalism, DAO structures and crypto's path to adoption.

Highlights include:

- What is the best form of money

- Bitcoin's tail emission risk

- How DeFi will outperform CeFi

- Will all financial transactions be on-chain?

- The likely path to adoption

- Why DAO failures are a sign of innovation

- Thoughts on regulation

- The future of centralized exchanges

- Why Thorchain is a gamechanger

- -

Follow Erik: https://twitter.com/ErikVoorhees

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

ParaSwap:

If you want to make a swap at the best price across the DeFi market, check out http://paraswap.io/empire

ParaSwap’s state-of-the-art algorithm beats the market price across all major DEXs and brings you the most optimized swaps with the best prices and lowest slippage.

Disclaimer: 0 fees are limited to 3 weeks or first 500k.

- -

Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/

Use code EMPIRE250 to get $250 off tickets (Only available this week!)

--

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

--

(00:00) Introduction

(01:32) Moving Beyond Bitcoin 

(03:50) Bitcoin Is The Best Form of Money

(05:34) Bitcoin's Declining Block Subsidy

(11:13) Woke Culture vs Bitcoin Maximalism 

(12:50) The Bifurcation of CeFi and DeFi

(16:18) Limits to DeFi's Growth 

(22:50) Why Users Will Want To Use DeFi

(26:50) A Short and Long Term Vision of the World

(28:48) Paraswap Ad

(29:56) The Path to Adoption

(35:38) Is The Worst Behind Us?

(37:22) Erik's Current Focus

(38:38) DAO Structures and Experimentation

(46:08) A DAOs Most Important Use Case

(49:30) Iterative Regulation 

(55:54) Centralized Exchanges

(57:05) Thorchain's Use Case 

(58:48) Advice To New People In the Space

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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.

In this episode of Empire, Jason and Santi are joined by Yawn Rong, co-founder of STEPN. STEPN is a widely successful Web3 application where users are paid to move (walk, jog or sprint). Yes, that may sound slightly dubious but tell that to the 1.7M+ active users STEPN garnered in only six months after launch.

Tune in to find out why STEPN was so successful and how STEPN plans to be the onboarding ecosystem of Web3!

Highlights include:

- STEPN's pivot to Web2

- How STEPN's two token system works

- Why Yawn believes STEPN will avoid Axie's fate

- How STEPN will expand across chains via Realms

- Why STEPN isn't adopting other exercise types

- Mechanics to retain users

- STEPN's focus on offline networks

- How to prevent users from gaming STEPN

- Potential partnerships

- Yawn's learnings from building in Web3

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Follow Yawn: https://twitter.com/yawn_rong

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

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

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

--

(00:00) Introduction

(03:39) STEPN's Pivot to Embrace Web2

(08:50) STEPN Overview & The Two Token System

(13:12) Avoiding Axie Infinity's Fate

(15:48) A Response to the Ponzi Accusation

(21:59) The Competition

(23:59) Expanding Chains With Realms

(26:26) How To Scale

(29:33) CORE

(31:02) User Retention In a Bear Market

(34:29) How To Prevent People From Gaming The System

(41:29) Will STEPN support other exercise types

(43:52) Strategy to be the billboard of Web3

(45:39) Building offline networks

(47:58) Onboarding Users

(50:44) User Behaviour

(55:27) Partnering With Insurance Companies

(57:09) Learnings From Building In Web3

(1:01:05) Holding Conviction During a Bear

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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.

In this episode of Empire, Jason is joined by Matthew Ball. Matthew is a strategist, technologist, investor, and metaverse expert. This episode is a masterclass on the future of the Metaverse, interoperability and the tech industry.

What defines the Metaverse? Who will build it? And will crypto be a key ingredient? Tune in to find out!

Highlights include:

- Defining the Metaverse

- What marks its arrival

- Why centralization forces will always exist

- How interoperability will work

- Why metadata is the tricky part of interoperability

- Open vs closed protocols

- Crypto's unique value prop

- 5 ways companies react to technology shifts

- Predicting how the world looks in 5 to 10 years

- Who will build the Metaverse

PS Matthew's new book The Metaverse and How it Will Revolution Everything is launching July 19th. This book is guaranteed to be the go-to guide for the Metaverse.

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Follow Matthew: https://twitter.com/ballmatthew

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

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

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Matthew's website

https://www.matthewball.vc/

Pre-order Matthew's new book

https://www.matthewball.vc/metaversebook

McKinsey on investments in the Metaverse

https://www.thestreet.com/crypto/news/metaverse-mckinsey-2030

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ParaSwap:

If you want to make a swap at the best price across the DeFi market, check out http://paraswap.io/empire

ParaSwap’s state-of-the-art algorithm beats the market price across all major DEXs and brings you the most optimized swaps with the best prices and lowest slippage.

Disclaimer: 0 fees are limited to 3 weeks or first 500k.

- -

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

--

(00:00) Introduction

(02:21) Defining the Metaverse

(06:46) What Will Mark The Arrival of the Metaverse

(13:01) Open Protocols Create Consumer Choice

(22:06) Paraswap Ad

(23:14) The Idealism of interoperability

(35:36) Who Will Control the Metaverse

(39:55) Crypto's Unique Advantage

(44:48) How Will The World Look In 5-10 Years

(48:55) Who Will Build the Metaverse

(52:31) Matthew's New Book 

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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.