Insilico Terminal Podcast

Felix Jauvin, Head of Content at Blockworks and host of Forward Guidance, joins the Insilico Terminal Podcast to talk macro, crypto, AI and the current market setup.  We get into why macro has become harder to apply to Bitcoin, which economic signals actually matter for traders, how Felix structures his own portfolio, the risks around Saylor and Strategy, and why he thinks much of the easy money in the AI trade may already have been made.  Felix also explains why he’s becoming more constructive on crypto again, how the CLARITY Act could become an important catalyst, what stablecoins actually mean for US debt demand, and where he sees opportunity across perps, prediction markets and new token models.

00:00 Felix Jauvin, Forward Guidance & His Trading Background 

07:30 Why Macro Has Become Harder to Trade in Crypto 

15:34 The Macro Data That Actually Matters for Bitcoin 

23:13 American Exceptionalism, Europe & Global Markets 

31:12 Saylor Risk, Quantum FUD & Fading Bearish Catalysts 

36:01 Is the AI Trade Over? Capital Rotating Back to Crypto 

40:01 The CLARITY Act Could Be Crypto’s Next Major Catalyst 

48:38 Stablecoins, US Debt & Financial Repression 

55:14 The New Fed Regime & What Could Drive the Next Crypto Cycle

Omnia joins the Insilico Terminal Podcast to discuss his path from NFT market making and crypto investing to building Kinetiq, the largest protocol on Hyperliquid.  We cover what convinced him to bet on Hyperliquid early, how HyperBFT and HyperEVM work, what K-HYPE offers holders, and how Markets by Kinetiq is approaching HIP-3 markets.  We also discuss the challenges of building inside the Hyperliquid ecosystem, the future of perp DEX competition, crypto tribalism, institutional adoption, and what it would take for Hyperliquid to become the house of all finance.

00:00 NFT Market Making & Omnia’s Crypto Origin 

07:05 From Hedge Fund Analyst to DeFi Builder 

14:25 HyperBFT, HyperEVM & Hyperliquid’s Technical Edge 

21:07 What Kinetiq Actually Does 

28:13 K-HYPE for Traders vs Native Staking 

35:07 Why Building on Hyperliquid Is So Difficult 

41:15 Can Hyperliquid Become the House of All Finance? 

48:58 Hyperliquid as an Existential Risk for Crypto 

55:55 Perp DEX Competition & Hyperliquid’s Shrinking Moat

Andrew from Block Scholes joins the Insilico Terminal Podcast to talk about crypto derivatives, options data, volatility surfaces, prediction markets, AI market makers, and why institutions are still building in crypto despite the bear market.  We covered what Block Scholes does, how their data is used by exchanges, market makers, banks, and DeFi teams, why prediction markets are basically retail-friendly options, how volatility surfaces help price markets that don’t exist yet, and what changes when AI tooling makes it easier for anyone to build trading bots.  We also talked about the current state of crypto, why headline prices don’t tell the full story, how institutional interest has changed, why real projects keep building through bear markets, and what regulation could mean for long-term adoption.

00:00 What Block Scholes Does

05:40 Data, Oracles & Crypto Derivatives

12:16 Prediction Markets Are Actually Options

16:03 Volatility Surfaces Explained Simply

23:29 How Retail Can Use Institutional Data

27:40 AI Market Makers & Trading Bots

30:20 Will AI Make Markets Efficient?

38:59 Why Institutions Are Still Building

48:05 The Future of Prediction Markets

55:59 Crypto Regulation & Long-Term Adoption

HackermanAce joins the Insilico Terminal Podcast to talk about Ichimoku trading, finding a real system, crypto options, volatility, hedging, on-chain venues, LPing memecoins, Solana, Hyperliquid, and where the next cycle could come from.  We covered how Ace went from early crypto mistakes to full-time trading, why he built his style around Ichimoku Cloud setups, why day trading burns people out, how crypto traders can start learning options, when options make more sense than perps, why hedging is underrated, and how LPing memecoins can work almost like an options strategy.

00:00 Ace’s Crypto Origin Story 

06:31 Why Day Trading Burns People Out 

13:57 Learning Options After Crypto Perps 

20:19 Hyperliquid, Airdrops & Missed Opportunities 

26:18 Current Market Outlook & Bear Market Timing 

32:38 Insilico Terminal, Execution Tools & Product Talk 

38:48 What Drives the Next Crypto Cycle? 

44:27 LPing Memecoins Like an Options Strategy 

49:08 Michael Saylor, Bitcoin Holders & Market Risk

Hendrik Ghys, Co-Founder & CEO of Thalex, joins the Insilico Terminal Podcast to talk about crypto options, volatility trading, market makers, delta hedging, and why options are easier than most traders think.  We cover how Thalex is building a crypto options exchange, why options are harder to bring on-chain than perps, how MOVE-style contracts work, what market makers actually do when they hedge, and how traders can think about perps vs options.  The episode also covers selling volatility, delta hedging straddles, OPEX, gamma, call spreads, longer-dated options, and why many retail traders might be making trading harder than it needs to be.

00:00 Intro: Hendrik Ghys from Thalex 

01:47 Building a Crypto Options Exchange 

06:15 Why Thalex Focused on Better Options Products 

13:26 Why DeFi Options Are So Hard 

16:53 Perps vs Options for Traders 

30:13 How Options Market Makers Hedge 

40:18 Selling Vol and Delta Hedging 

49:34 Simple Options Rules for Retail Traders 

55:16 Day Trading Options vs Perps 

01:01:56 Learning Options by Doing

EmptyBrainTrader joins the Insilico Terminal Podcast to talk about crypto trading, execution, mean reversion, and the psychology of actually clicking the button.  We covered his early mistakes buying XRP and Zcash, blowing up in 2022, studying DOM and auction market theory, building a mean reversion style, dealing with FOMO and revenge trading, and why execution often matters more than perfect analysis.  We also talked about the current crypto market, Saylor fear, BTC downside risk, HYPE, Hyperliquid, perp DEXs, Extended, Variational, prediction markets, and why traders should focus on not losing big.

00:00 No Brains, All Balls and why execution matters 

08:00 Mean reversion, footprint, and fading extremes 

16:00 FOMO, patience, and learning to sit out 

24:18 Stocks, war fear, and why markets keep grinding higher 

33:35 Perp DEXs, Hyperliquid, Extended, and liquidity 

41:44 Market orders, swarm orders, TWAPs, and limit fills 

48:28 HYPE, HIP-3, and why Hyperliquid still matters

CryptoGoon joins the Insilico Terminal Podcast to talk about leaving TradFi, discovering early DeFi, getting rugged, and finding real trading edges across crypto markets.  We cover the difference between solo trading and working inside a trading firm, how simple arbs and broken on-chain mechanics turned into profitable trades, what market making actually looks like, and why new perp DEXs and prediction markets can still offer opportunities for traders willing to dig.  He also shares his thoughts on Hyperliquid, HYPE, points farming, the current state of crypto, and why quant trading is often less about complex math and more about finding weird things before everyone else.

00:00 Intro + CryptoGoon’s background 

04:31 Getting rugged and discovering early DeFi 

07:08 Why TradFi-style edges worked in 2021 crypto 

11:03 Solo trading vs trading inside a firm 15:25 The on-chain casino arb that became PvP 

24:13 Finding edge early on new perp DEXs 31:10 Why quant trading is simpler than people think 

38:39 Why points farming can reveal real edge 

53:01 Crypto morale, HYPE, and where the market is now

Marty joins the Insilico Terminal Podcast to talk about his path from early Bitcoin and BitMEX to becoming a top perps and spot market maker on FTX, and later moving deeper into crypto options.  We discuss why options market making is so different from perps, why retail still prefers simple up/down leverage, how structured products work, what went wrong with DeFi options, and why portfolio margin matters.  Marty also shares his view on volatility selling, surviving major market stress events, the current state of Bitcoin and ETH, and why Hyperliquid has become one of the most important venues in crypto.

00:00 Marty’s path from early Bitcoin to market making 

06:17 Becoming a top FTX perps and spot market maker 

12:00 Why crypto options are still behind perps 

16:17 How institutions use structured products 

20:31 Why DeFi options struggled and what changed 

25:03 Prediction markets, binary options, and retail gambling 

30:37 Better ways to express directional trades with options 

37:51 Surviving 10/10, volatility spikes, and exchange outages 

43:14 Why Marty is skeptical about the current crypto market 

52:01 Bitcoin’s narrative problem and what could bring it back

In this episode, we’re joined by @GoshawkTrades, a systematic and algorithmic trader running 12+ live strategies across futures, equities, and crypto.  We talk about how he got into trading, why he moved toward systematic strategies, what he got wrong early, and what his trading looks like today.  We also cover where strategy ideas come from, how to test them properly, the most common backtesting mistakes, strategy decay, correlation across multiple algos, risk management, kill switches, quant vs discretionary trading, and how AI agents could change markets over the next few years.

00:00 Getting into trading and moving from discretionary to systematic 

03:47 Shorting small cap gappers and finding his first profitable system 

08:50 Moving from small caps into futures and crypto 

13:44 Discretionary trading, FOMO, and scratching the itch responsibly 

18:57 Where systematic strategy ideas come from 

23:34 Building a portfolio across trend, mean reversion, and inefficiencies 

31:41 Whether trend following still works in sideways markets 

40:07 How he sizes and allocates between strategies 

46:24 Dealing with drawdowns and knowing when to cut a strategy 

53:33 The biggest mistakes newer algo traders make 

01:05:50 Finding edge in new markets

Skew joins the Insilico Terminal Podcast to talk about how crypto markets have changed, why trading is more competitive now, and how he uses order flow, market structure, CVD, OI, funding, and sentiment to find trades.  We covered his early Bitcoin story, learning to trade on BitMEX, the difference between speculation and real trading, how large players create traps in the market, how to find strong altcoins, and what he is watching in the current macro and crypto cycle.

00:00 The story behind “52kskew” and finding Bitcoin early 

09:07 Learning to trade on BitMEX and why price action comes first 

15:28 Market traps, liquidity games, and how crypto changed since 2019 

23:28 How Skew trades today: trend, momentum, and order flow 

29:14 Using OI, funding, CVD, and footprint without getting misled 

34:13 Speculation vs real trading, and the mistakes most traders make 

38:13 Finding strong altcoins, sizing positions, and managing risk 

46:09 Trading ranges, sentiment extremes, and market psychology 

53:54 Market maker games, toxic flow, and reading large players 

58:13 Current market outlook, macro risks, and advice for newer traders