NFA Podcast about tech & web3 - aka AI and crypto

News

The first major story covers the Genius Act, which allows US-based firms to issue stablecoins directly. Nish explains howCitibank, Amazon, Walmart, and Bank of America are all positioning to launch stable coins. The discussion turns on whether institutions will build their own stablecoins or rely on Circle, whose IPO has been a success.

Michiel redirects attention to Bitcoin’s latestall-time high. He critiques media framing, citing a headline about Ethereum “rolling over” as if it were intentional. The two then connect this to broader market volatility, with $1 billion liquidated in leveraged positions. Nish adds a story on World Liberty Finance and Alt-5 Sigma, noting Eric Trump’srole as an advisor — a detail that sparks skepticism from both hosts.

The focus shifts to AI, specifically the launch of ChatGPT-5. Michiel quotes Sam Altman’s claim that the model represents “a PhD-level expert in any field.” He pushes back, highlighting reliability gaps and the ethical risks of marketing AI for healthcare, especially in light of recent reports of users harmed by AI-provided medical advice. Nish shares anecdotal experiences of people who caught illnesses early with ChatGPT prompts, but stresses the danger of treating AI asa doctor. Both hosts agree the model is useful but far from AGI.

They then discuss AI startups led by former OpenAI executives (Safe Superintelligence, Thinking Machines Lab) as potential challengers in the next 18 months. Next comes chip policy under Trump. Michiel explains the new deal: Nvidia and AMD pay 15% of revenue from exports to China, while the White House is considering a stake in Intel. Nish critiquesthe profiteering optics, while Michiel frames it as a strategic attempt to reduce reliance on Taiwan. They note the unusual precedent of the US president influencing CEO tenure at a listed company (Intel).

Market commentary and token picks

The crypto market segment centers onaltcoin season. Nish outlines her strategy of spreading bets across leading layer-1s, treating it like VC investing. He notes banks backing Solana stablecoin development, skepticism on XRP, and optimism around Hyperliquid’s comeback. Michiel adds that DePin is a sector to watch.

Trading competition and portfolio results

Finally, the trading competition. Michiel details his moves: selling Bitcoin, Nvidia, and Broadcom, buying Intel,Electronic Arts, Solana, SUI, and even Pudgy Penguins NFTs. Despite a 16% drop in the penguins, his portfolio is up 34.8% since June. Nish, after emotional swings, held steady in Solana, Ethereum, and a meme coin called A$$DAQ. Despite losses there, she too stands at 34.3% up, nearly identical to Michiel. Both laugh at the absurdity of their meme coin choices.

The episode closes with broader reflections on investing: theimportance of concentrated conviction in fast-growing sectors, the dangers of over-diversification, and the promise of long-term strategies in AI, gaming, and climate tech.

Chapter list

00:00 Intro and disclaimer

01:00 Bitcoin tattoo at a wedding

03:30 The Genius Act and stablecoins (Citi, Amazon, Walmart,Circle)

05:50 Bitcoin ATH and market liquidations

07:20 World Liberty Finance, Eric Trump, Alt-5 Sigma

08:30 ChatGPT-5 launch, healthcare risks, AGI hype

11:00 AI competition: Safe Superintelligence, Meta’s role

12:40 Trump administration and chipmakers (Nvidia, AMD, Intel)

15:10 Is it altcoin season? ETH, Solana, XRP debates

18:00 Hyperliquid’s comeback and DeFi trends

19:30 DePin and World Mobile use cases

20:45 Trading competition: Michiel’s trades (Intel, EA, PudgyPenguins, Solana, SUI)

22:50 Trading competition: Nish’s portfolio (Solana, ETH, A$$DAQ)

26:00 Investment philosophy: concentration vs diversification

27:50 Climate tech, Tracer, and long-term growth industries

29:10 Closing thoughts and outro

Summary

News and macro discussion

The episode begins with a breakdown of the biggest story in tech: Mark Zuckerberg’s billion-dollar attempt to poach AI talent from his competitors: Human Machines Lab (Mira Murati), OpenAI and Anthropic. Nish and Frackers discuss how Zuckerberg’s superintelligence memo was inspired by, if not copied, from a character.ai memo from several years ago.

They reflect on how investors reward execution and momentum over originality or ethics. Other headlines include strong earnings by Apple and Microsoft and Amazon’s weak AWS numbers. In crypto, the CoinDCX hack is revealed to be an insider job involving $44 million in stolen assets, with on-chain sleuth ZachXBT helping expose it. The SEC’s “Project Crypto” is also discussed as a potential shift toward lighter regulation, although the lack of clarity left markets unmoved.

Market commentary and token picks

The middle segment covers how traditional markets and crypto reacted to this mix of strong earnings and regulatory uncertainty. Michiel points out that Ethereum still hasn’t broken its previous all-time high, which he sees as a signal of weakness despite increased buying from large entities like Ether Machine. Nish notes Tether’s reported $4.9 billion profit in Q2, noting that the figure is unaudited.

Trading challenge and portfolio results

In the final part of the episode, Nish and Michiel reveal the results of their increasingly competitive trading competition. Nish went full degen, flipping $30 into $240 on the AIR token before swapping into another meme coin called A$$ and ending at $135. He describes the emotional rollercoaster of near-instant profits followed by losses, calling it a full round-trip. Michiel took a more conservative approach, sticking with a mix of Nvidia, Broadcom and Bitcoin, and ended the week with a 17 percent gain since the start of the competition in early June. They compare strategies, risk tolerance and the psychology of trading in volatile markets. The segment ends with reflections on why most traders underperform even during bull markets, and a reminder by Nish that the challenge is about learning, not outperforming each other. Michiel is not buying it.

Chapter list

00:00 – Intro and episode preview

Overview of topics including Meta, CoinDCX hack, SEC regulation and the trading competition

01:30 – Zuckerberg’s $1B AI poaching strategy

Discussion on Meta offering $5 to $10 million per engineer and the ethics behind it

04:00 – Meta’s plagiarized superintelligence memo

Breakdown of Zuck memo’s similarities to character.ai and what it reveals about Meta culture

06:20 – Big Tech earnings and market reactions

Apple, Amazon and Microsoft results and how the market is responding

08:10 – Circle and Figma IPO chatter

Comments on IPO valuations and investor psychology

09:30 – CoinDCX hack and insider involvement

How $44 million was drained from an Indian exchange by insiders, and how ZachXBT helped trace it

12:00 – SEC’s “Project Crypto” grace period

Discussion on a possible regulatory shift and its unclear impact on token markets

14:30 – Ethereum’s weak price action despite good news

Why ETH still hasn’t hit a new ATH and what that means for investor confidence

17:00 – Tether’s $4.9B quarterly profit

Questions around how Tether generates its profit and whether it’s sustainable or lega

20:00 – Trading competition recap begins

Nish explains how he turned $30 into $240 and then back to $135 using AIR and A$$

23:00 – Michiel’s conservative portfolio performance

25:00 – Risk and psychology in crypto investing

• Links
• Zuckerberg's $1 billion offer
• Zuckerberg, destroyer of company culture - elsewhere
• ⁠Om Malik: Decoding Zuck’s Superintelligence Memo⁠
• Tether Posts $4.9B Profit in Q2 as Stablecoins Go Mainstream
• CoinDCX $44 Million Hack Was An Inside Job
• Trump Company Buys $1 million ETH
• Figma IPO Through The Roof
• Ethereum is 10 years old!
• SEC Project Crypto

Summary

In this week’s episode of the NFA Podcast, Nish and Michiel unpack one of the most eventful weeks in crypto, AI, and regulation we’ve seen in months.

We begin with two major pieces of legislation that could reshape the crypto landscape in the US: the Genius Act and the Clarity Act. The Genius Act requires all stablecoin issuers operating in the US to maintain asset-backed reserves, a move clearly aimed at increasing trust and transparency in a market long criticized for its opacity, particularly with players like Tether, which still hasn’t completed a full audit. Meanwhile, the Clarity Act formally classifies digital assets as commodities, shifting the regulatory framework and potentially giving clearer jurisdiction to the CFTC over the SEC. What does this mean for companies like Circle, whose USDC coin is already regulated and backed by reserves? Nish and Michiel break it down.

From legislation to security breaches, the episode shifts focus to the $44 million hack of CoinDCX, one of India’s largest crypto exchanges. Michiel questions North Korea’s involvement, especially given the regime’s recent history of targeting exchanges like Bybit. Nish points out that the scale of the loss is devastating even if users weren’t directly affected, especially in a fast-moving and trust-sensitive market like India.

The conversation then pivots to AI agents, specifically the launch of OpenAI’s ChatGPT Agent and Perplexity’s Comet. These new tools promise to automate web tasks and increase user efficiency, but they come with alarming trade-offs. These agents can take full control of your browser and system, with unclear limits on what data they access. Michiel raises the core question: “Why would anyone hand over control of their computer to a company they don’t fully trust?” He also tells a disturbing story involving a Dutch tech reporter and a ChatGPT hallucination that suggested pairing risotto with a “poop sandwich.” The story is both humorous and troubling and drives home how unreliable LLMs can be when misused or blindly trusted.

The pair then dive into market movements, specifically the altcoin rollercoaster that played out over the past week. The Altcoin Index fluctuated wildly, dropping from 62 to 42 in a matter of hours, only to rebound to 55. Bitcoin remained relatively stable, but altcoins like Solana (+24%), Dogecoin (+35%), XRP (+21%) and BNB (+16%) saw significant gains. Nish explains that this cycle is unlike previous bull runs, with institutions entering, regulations shifting, and meme coin frenzies returning. She also notes that staking protocols like Aave and Hype are losing momentum, while Layer 1s are back in favor.

Nish’s trading competition update is one for the books: despite not making a single move while on vacation, her NEAR position surged 43%, leading to a total portfolio gain of 38% over two weeks. Michiel’s more conservative portfolio—50% in Bitcoin, the rest split between Nvidia and Broadcom—returned just 1% this week, though he reminds listeners that he’s still up 14.57% since early June. Together, they discuss what this means for active vs passive strategies, risk management, and how fast recovery can happen in crypto - if you survive the drawdown.

The show closes with predictions for next week. Michiel thinks Bitcoin will remain stable and altcoins will rise slightly. Nish sees the Altcoin Index staying in the 50–60 range. Michiel plans to move half of his Bitcoin into a yet-to-be-determined altcoin, possibly Solana. They end with a reminder that none of this is financial advice—and a lesson both hosts agree on: if something in your portfolio is eating you up emotionally, it’s probably time to let it go.

Keywords

CoinDCX hack, ChatGPT hallucinations, AI agents, altcoin season, Ethereum, NEAR Protocol, Solana, Sui, trading strategy, meme coins, stablecoin regulation, US crypto law

Summary

Meta drops $200M on AI talent Jeff Pang, OpenAI loses the Windsurf deal and then Google gets outplayed,, while crypto markets go vertical. This may have been the wildest weekend yet in AI and crypto.

In this episode of the NFA Podcast, Nish (Sachdev) and (Michiel)Frackers cover the wildest stories in tech and crypto from the past week. They open with a headline grabber: Meta’s $200 million offer to Apple’s AI exec Jeff Pang.

Nish and Michiel unpack what this means for Meta’s strategy, why they might be abandoning their LLama model and how Pang’s hiring reflects the ongoing AI talent war. Nish argues Meta is now in “spray and pray” mode, hiring brilliant people first and figuring out a product strategy later.

Next, they discuss Kazakhstan’s unexpected decision to build astrategic Bitcoin reserve, raising questions about whether a volatile crypto asset belongs in a country’s sovereign balance sheet. This flows into a wider discussion about decentralization, institutional trust, and the politicalnarratives shaping adoption of Bitcoin.

The biggest geopolitical and policy theme of the episode is “Crypto Week” in the US: three new bills moving through Congress —the Genius Act, Clarity Act, and Anti-CBDC Surveillance State Act— could reshape how stablecoins are issued and how digital assets are regulated. Nish breaks down how these laws may impact Circle, Tether and CBDC development across federal and state jurisdictions.

Mid-episode, Michiel drops a jaw-dropping three-part story:OpenAI’s $3B failed acquisition of AI startup Windsurf, Google’s reverse acquihire of its founders and Cognition’s final scoop of the company in a move that stuns the whole industry.

In the final segment, they run through major market updates:Bitcoin, Nvidia, altcoins, and PumpFun’s $600 million launch. The episode closes with a progress check on their trading competition (spoiler: someone is down 75%) and predictions for Bitcoin, the fear & greed index and the arrival of altcoin season.

Michiel's News

Meta Poached Apple’s Pang With Pay Package Over $200 Million

https://www.bloomberg.com/news/articles/2025-07-09/meta-poached-apple-s-pang-with-pay-package-over-200-million

The most insane 72 hours in startup history just ended.

https://www.linkedin.com/posts/sytaylor_the-most-insane-72-hours-in-startup-history-ugcPost-7350607437411807234-hYq5

Nvidia to resume H20 chips export to China

https://www.wsj.com/tech/nvidia-wins-ok-to-resume-sales-of-ai-chip-to-china-after-ceo-meets-trump-68f55d71

Nish's news

Cryptoweek in the USA

https://finance.yahoo.com/news/crypto-week-pushes-bitcoin-to-record-high-as-lawmakers-weigh-3-key-bills-in-dc-135334982.html

Pump Fun launches an ICO - sells out in 12 minutes, raising $600 million

https://www.bloomberg.com/news/articles/2025-07-12/memecoin-platform-pump-fun-raises-600-million-within-12-minutes

Chapter List

00:00 – Intro & Jeff Peng’s $200M Meta Package 

04:34 – Meta's AI Gamble and LLaMA’s Decline 

07:00 – Kazakhstan’s Bitcoin Reserve Strategy 

09:33 – US Crypto Bills: Genius Act, Clarity Act,Anti-CBDC 

13:11 – Wild Windsurf Saga: OpenAI, Google &Cognition 

17:21 – Markets: Bitcoin, Nvidia, PumpFun Token Sale 

20:12 – Trading Competition: Michiel vs. Nish 

22:22 – Predictions: BTC, Fear & Greed, Altcoin Season 

25:58 – Wrap-up & Final Thoughts 

Keywords

Crypto, AI, Meta, Jeff Peng, OpenAI, Google, Windsurf,Cognition, Bitcoin, Kazakhstan, CBDC, Genius Act, Clarity Act, Anti-CBDC, Circle IPO, PumpFun, Altcoin Season, Trading Competition, Nvidia, Trump, Michiel Frackers, Nish, Token Listing, Market Update, Tracer, Crypto News, Web3, Decentralization, Regulation, Crypto Week, Fear and Greed Index

The NFA Podcast is Not Financial Information.

Episode Summary

In episode 20, Nish records from a tropical war zone of broken podcast gear while Michiel holds steady with TradFi tech picks and an 8 percent portfolio gain. The episode opens with Robinhood’s wild move to offer tokenized shares of OpenAI and SpaceX, raising questions after OpenAI denied any involvement.

The hosts break down how this ties into the broader risk landscape post-SVB, with stablecoins like Tether still lacking a real audit, and USDC emerging as the safer bet. They also explore why OpenAI still can’t go public, how Microsoft quietly benefits through a revenue-sharing deal, and how Nvidia is nearing a 4 trillion dollar valuation despite a China sales ban.

One of the biggest tech stories: DeepMind has launched the first human trial of a drug designed entirely by AI, potentially compressing the pharmaceutical pipeline by years. Meanwhile,Samsung predicts a 40 percent drop in quarterly profits due to weak AI chip sales, showing the gap between AI hype and hardware reality.

In fintech, Soulflare adds stock trading with zero KYC or announcement, raising regulatory questions. And in thetrading competition, Nish gets rugged again on Pump.Fun and drops to 24 dollars, while Michiel’s conservative picks push him to an 8 percent gain. The episode closes with reflections on market delusion, geopolitical risks, and a plea to the Illuminati to stop messing with their portfolios.

Links

1. Robinhood launches tokens for EU users:

https://www.reuters.com/business/robinhood-launches-tokens-allowing-eu-users-trade-us-stocks-2025-06-30/

2. OpenAI says it has not partnered with Robinhood:

https://www.reuters.com/business/openai-says-it-has-not-partnered-with-robinhood-stock-token-2025-07-02/

3. SEC chair comments on tokenized equities:

https://www.marketwatch.com/story/these-stocks-surged-as-sec-chair-sounds-positive-on-tokenization-of-equities-1a1528a1

4. Google DeepMind AI-Designed Drug Trials:

https://www.fastcompany.com/91363911/googles-ai-drug-company-says-human- trials-are-very-closeStablecoins & SVB Fallout

5. Stablecoins and bank profit risks:

https://www.marketwatch.com/story/stablecoins-could-hurt-bank-profits-but-not-for-a-while-analyst-673b5778

6. Academic research on USDC vs USDT during SVB collapse:

https://arxiv.org/abs/2407.11716

Chapter List

1. 00:00 — Tropic Thunder in Thailand and Podcast Tech Fail

2. 01:30 — Robinhood Offers Tokenized OpenAI and SpaceX Shares

3. 03:00 — DeFi Meets TradFi: Stablecoins and the SVB Risk Model

4. 05:00 — Tether’s First Audit and Why It Still Isn’t Trustworthy

5. 07:00 — Why OpenAI Still Can’t Go Public and Who Owns It

6. 09:30 — Microsoft Quietly Wins with OpenAI’s Future Revenue

7. 10:30 — Nvidia Hits $4 Trillion Despite China Sales Ban

8. 11:00 — China and Australia Discuss AI Trade Collaboration

9. 11:30 — DeepMind Launches First Human Trial of AI-Designed Drug

10. 13:00 — Samsung Forecasts 40 Percent Profit Drop on Weak AI Chip Sales

11. 14:30 — Soulflare Adds Stock Trading with Zero KYC or Announcement

12. 15:30 — World War III Already Happening? Markets Don’t Care

13. 17:00 — Stocks Beat Bitcoin in June Despite Global Tension

14. 18:00 — Fear and Greed Index Swings and Market Confusion

15. 19:30 — Trading Competition: Nish Gets Rugged Again on Pump.Fun

16. 22:00 — Michiel’s Portfolio: Up 8 Percent with Nvidia and Broadcom

17. 24:30 — Risk Lessons and the Problem with Holding Too Long

18. 26:00 — Final Thoughts: Peace, Perspective, and Market Madness

Tags

Robinhood, Tokenized stocks, OpenAI, SpaceX, USDT, USDC, Tether audit, Stablecoins, DeepMind, AI drug trial, Microsoft, OpenAI IPO, Nvidia, Soulflare, No KYC, Pump.Fun, Rug pull, Bitcoin, Fear and Greed Index, Trading competition, NFA Podcast, Nisheta Sachdev, Michiel Frackers

Summary

The NFA Podcast's latest episode, hosted by Nisheta Sachdev and Michiel Frackers, covers recent developments in the cryptoand tech world, while also featuring their ongoing trading competition. Nish and Michiel cover a whirlwind of crypto drama, political irony, and market twists.

They start with JP Morgan’s stablecoin launch, a $100Mhack in Iran where the attackers burned the funds and BitGet’s partnership with UNICEF to fund girls’ education. Then they discuss Tron’s U.S. IPO following a possible presidential intervention and debate whether the SEC’s crypto probes are justified.

The episode heats up with a breakdown of Microsoft’sstrategy to lock in OpenAI revenue while potentially blocking its IPO, and how Meta’s $100M AI sign-on bonuses reflect desperation in the AI arms race.

Nish shares a wild ride on PumpFun, turning $6 into $240 before getting rugged in a gamified token ecosystem that collapsed within a few hours.

The trading competition updates, personal AIcautionary tales, and a few sharp takes on egos (Trump, Zuck, and crypto bros alike) round out a packed episode. Final score? Michiel’s steady portfolio beats Nish’sdegen bets this week.

Links from this week's stories

·      JP Morgan is launching a stable coin

·      Iran’s biggest exchange was hacked for $100m

·      Tron to go public in the US - SEC pauses probe

·      Bitget and Unicef have partnered to educate 300k girls across the world!

·      OpenAI CEO Sam Altman says Meta offered $100 million bonuses to OpenAI employees

·      Microsoft prepared to walk away from high-stakes OpenAI talks

·      The stock of Circle, the company behind USDC had a spectacular IPO (up 117%)

Chapters

00:00 – Nish tees up the big stories: JP Morgan’s stablecoin,a major Middle East hack, Tron’s redemption arc and a wild trading week.

01:30 – Hack & Burn: Iran’s $100M Crypto Ghost

A pro-Israeli group hacks Iran’s biggest exchange andburns the tokens. Ethics, retaliation, and questions of civilian impact follow.

03:19 – BitGet x UNICEF: Finally, Some Good News

A rare feel-good headline: crypto helps educate300,000 girls. But where did that extra $100M come from?

03:59 – Trump, Tron, and the Big D Energy

Tron goes public after a presidential pardon. Whathappened to the SEC probe? And why is Eric Trump an advisor?

06:44 – AML, MetaMask & Who’s Responsible?

The SEC’s crackdown on crypto: fair regulation orpolicy overreach? Metamask, Binance, and double standards.

08:50 – Meta’s AI Faceplant

Meta tries to catch up in AI by buying Scale. But is a$100M sign-on bonus desperation or genius?

11:12 – Microsoft v OpenAI: The SoftBank Ultimatum

Satya Nadella plays chess while the rest of tech playscheckers. The real reason Microsoft doesn’t want OpenAI to IPO. Michiel explains how Microsoft gets $92B in revenuebefore any equity upside. It’s not about the shares, it’s about the compute business.

14:13 – Elon vs Zuck: The Ego Wars

Meta isn’t about data or AI, it’s about one-uppingMusk. Zuckerberg’s Threads, rockets and rage.

16:31 – AI Is Making Us Dumb (Seriously)

An MIT study shows AI use reduces cognitiveengagement. Nish shares a personal lesson on using AI in school.

20:43 – Bitcoin Up, Alts… Meh?

Predictions time. Bitcoin’s holding, alts areinconsistent, but both hosts expect an uptick.

21:09 – Trading Comp: Michiel Plays It Safe, Nish GoesFull Degen

Michiel’s portfolio edges up +2.69% with Nvidia andBTC. Meanwhile, Nish starts at $6 and hits $240 before getting rugged.

26:28 – Final Wallet Check: Michiel Wins This Round

Nish ends at $55, Michiel at $102.69. Lessons: takeprofits, don’t YOLO everything, and maybe skip PumpFun next week.

28:15 – Degens Gonna Degen

Nish embraces her degen roots. Michiel calls outhypocrisy: “You always tell me to sell half!” And yet…

Summary

The NFA Podcast's latest episode, hosted by Nisheta Sachdev and Michiel Frackers, covers recent developments in the crypto and tech world, while also featuring their ongoing trading competition.

Key news topics include Binance's launch in Syria and Hong Kong's efforts to create a crypto tracking tool against money laundering. They discuss the ongoing Iran-Israel conflict and its surprisingly muted impact on the markets, attributing it to market adaptation to frequent negative news.

Michiel highlights a significant European initiative led by France's President Macron, Nvidia, and Mistral, aiming to offer an AI platform that keeps data within Europe, countering US dominance and data control concerns, especially in light of the Trump administration's influence.

Nish reveals staggering figures from a Forbes article detailing Trump's $1.2 billion wealth creation through crypto, including NFTs, meme coins, and a stablecoin business.

In their trading competition, Michiel admits to being "way down" , while Nish details her strategy of investing in a "Uranium" meme coin on PumpFun, turning her initial $78 into $140 by the end of the episode. They conclude with market predictions, both believing Bitcoin will go up next week, and Nish advises against high-risk trades with significant capital.

Chapter List with Timestamps

1. 00:00 — Welcome & What’s Coming Up

Nish introduces the episode’s topics: Iran-Israel conflict, Binance news, Trump’s crypto wealth, and the trading competition.

2. 00:29 — Trading Competition Banter

Nish teases her portfolio success, Michiel calls her out on meme coin obsession.

3. 02:32 — News Section Kickoff

The hosts lay out the episode format: news first, markets second.

4. 03:46 — Iran-Israel Tensions & Market Impact

Discussion on Israel’s strike, media narratives, and muted market reactions.

5. 07:09 — Binance Launches in Syria & Hong Kong’s New Crypto Tool

Breakdown of Binance’s controversial expansion and Hong Kong’s proposed blockchain tracking system.

6. 09:58 — France, Mistral & AI Sovereignty

Michiel explains Macron’s alignment with Mistral and Nvidia, plus the European backlash over US tech dominance.

7. 12:55 — Decentralized Storage & BitTensor Shoutout

Debating global data decentralization and Nish’s bullish take on BitTensor.

8. 15:40 — Trump’s Crypto Windfall

Forbes breakdown of Trump’s crypto earnings: NFTs, meme coins, and stablecoins.

9. 19:05 — Blockchain Transparency & Wallet Tracking

How Trump’s wallets were analyzed — and Nish shares her own near-miss with a $50 Pepe moonshot.

10. 21:31 — Trading Updates: Uranium, SOL, USDT

Nish walks through her portfolio moves, uranium meme coin profits, and Michiel questions the numbers.

11. 24:56 — Portfolio Recap: Nish +40%, Michiel Flat

Michiel summarizes both performances — and declares meme coins as market winners.

12. 26:33 — Next Week’s Market Predictions

Bold forecasts for Bitcoin and altcoins plus Michiel’s psychological trading block.

13. 28:30 — Risk vs Reward: Would You Bet $1M?

Final lessons on degenerate trading, top 10 token churn, and portfolio caution.

14. 29:45 — Sign-Off: $25 Turns Into $34

Nish wraps up with her uranium profit update. Episode ends.

Keywords

NFA Podcast, Crypto News, Binance, Hong Kong Crypto, Money Laundering, Iran Israel Conflict, Market Sentiment, Trump Crypto Wealth, NFTs, Meme Coins, World Liberty Token, Stablecoin, European AI, Mistral AI, Nvidia, Macron, Data Sovereignty, Decentralized Storage, BitTensor, Bitcoin, Ethereum, Altcoins, Trading Competition, PumpFun, Uranium Token, Solana, Sui, USDT, Market Analysis, Crypto Trading, Financial Advice

The NFA Podcast is not financial advice.

This week on the NFA Podcast, Nish and Michiel break down a packed week in crypto and tech. They discuss Circle’s IPO and what it signals for crypto’s position in public markets. The collapse of Builder AI raises questions about due diligenceand investor hype. On the political front, Trump and Elon Musk are in open conflict but the hosts think it will not change the crypto policy and tech influence in the White House.

They also cover how social media algorithms affect younger users, why AI live shopping hasn’t taken off and how it's possible that Kyrgyzstan and Pakistan are being labeled as emerging crypto hubs. The episode wraps up with updates from the NFA trading challenge where Nish is kicking Michiel's butt. Finally, Nish and Michiel share their short takes on Bitcoin, altcoins and the market sentiment.

Keywords / Tags

 #nfapodcast #cryptopodcast #CircleIPO #CRCL #Builderai #ElonMusk #USDC #Tether #USDT #altcoinseason #AIliveshopping #bitcoin #solana #sui #tradingchallenge#stablecoins #pumpfun #nvidia #NVDA #Broadcom #AVGO

NFA S1E16 Summary:

On this episode of the NFA Podcast, Nish and Michiel tackle apacked week of news. They dissect the controversial $3 million OpenAI video announcing its merger with io, questioning its cost, effectiveness, and the egos of OpenAI CEO Sam Altman and legendary designer Jony Ive, who is one of Michiel'sidols whereas Nish had never heard of him.

They also cover significant market news, including Thailand'sban on five major crypto exchanges, the aftermath of the SUI protocol and Cetus DEX hack (and its surprisingly positive resolution through community voting) and a Supreme Court case involving Coinbase and an SEC data probe.

They touch on the "Trump dinner" and its allegedmillion-dollar-per-seat cost. Nvidia's surge to overtake Microsoft and Apple in market cap is discussed, alongside Michiel's personal regrets about selling his shares. The conversation also explores the elusive "alt season," introduces BitTensor as a decentralized AI infrastructure project both Nish and Michiel like and culminates in the hosts agreeing to a friendly $100 trading competition. As always, the hosts remind listeners that this is not financial advice.

This is the OpenAI video fail Nish and Michiel discuss:

https://youtu.be/W09bIpc_3ms?si=6JHFFKVcIqz3AsX-

Other Key Topics Discussed:

• Market News: Trump dinner costs, Nvidia's market dominance, Broadcom performance.

• Cryptocurrency Deep Dive:

o SUI protocol & Cetus DEX hack resolution and decentralized voting.

o Is SUI the next Solana or Ethereum?

o Thailand's ban on Bybit, 1000X, CoinX, OKX, and XT exchanges.

o US Supreme Court, SEC, and a Coinbase user data probe.

o The elusive "alt season" and market sentiment.

o BitTensor (TAU) and decentralized AI infrastructure.

• Tech Updates & Commentary:

o The low viewership (700k) vs. high production cost.

o Platform responsibility for user-generated content (Telegram discussion).

• Investing & Trading:

o Michiel's Nvidia sale regret and current thoughts on its valuation.

o Nish's crypto-only and "gut feeling" investment strategy.

o Proposal for a $100 trading competition between Nish and Michiel.

Chapters / Sections

• (00:00) Introduction & Episode Overview

• (00:29) Welcome & Disclaimer (Not Financial Advice)

• (00:54) Initial Market Banter & Broadcom Mention

• (01:28) SUI Protocol & Cetus DEX Hack Follow-up

• (04:07) General Crypto Market News & Altcoin Season

• (04:52) Thailand Bans Five Crypto Exchanges

• (05:51) Trump Dinner Cost

• (06:14) Supreme Court, SEC, and Coinbase Data Probe

• (07:03) Platform Responsibility for User Content

• (07:41) OpenAI & io Merger Video Deep Dive (Cost, Production, Ego)

• (16:39) Market News: Nvidia Overtakes Microsoft & Apple

• (19:08) Nish's Crypto-Only Investment Approach

• (19:51) Proposed Trading Competition

• (23:21) Token Discussion: Sui and BitTensor (TAU)

• (25:44) Trading Competition Strategy Discussion

• (26:04) Closing Remarks & Competition Banter

• (27:21) Final Takeaway & Sign-off

Actionable Takeaways (Remember: Not Financial Advice!):

• Community governance and transparent crisis response are vital in the crypto space, as demonstrated by the SUI/Cetus situation.

• Tech founders should focus on authentic marketing and product value over ego-driven displays.

• High-budget productions don't always translate to effective marketing or positive public perception.

• Decentralized AI infrastructures like BitTensor aim to break monopolies and foster innovation by rewarding participation.

Companies, Tokens & People Mentioned:

• Companies/Organizations: OpenAI, io, Broadcom, Nvidia, SUI, Cetus, Solana, Ethereum, Bybit, OKX, Coinbase, Telegram, Ton, San Francisco Standard, Microsoft, Apple, Bitcoin.

• People: Donald Trump, Sam Altman, Jony Ive, Pavel Durov (Telegram), Steve Jobs

• Tokens: SUI, TAU (BitTensor).

Tune in for: Weekly news summaries, crypto updates, tech insights, and traditional finance market discussions.

Bitcoin hits a new all-time high, but altcoin season is nowhere to be seen. Nish and Michiel break down the latest market chaos: Sui’s $223 million DEX hack, Trump’s meme coin crash, and OpenAI’s jaw-dropping $6.5 billion acquisition of a startup with no product. Plus, what FIFA launching a blockchain tells us about brand bandwagons, and why altcoins might pop just in time for summer.

Chapters

1. 00:00 – Intro & What’s Coming

2. 01:00 – Bitcoin’s All-Time High and Missed Trades

3. 05:20 – Trump, Tariffs, and Market Reaction

4. 07:00 – Fear & Greed Index vs Altcoin Season

5. 08:00 – Sui DEX Hack: What Actually Happened

6. 10:30 – How Decentralized Was This DEX, Really?

7. 12:20 – Why Michiel No Longer Trusts DEXes

8. 13:00 – Altcoin Predictions for Summer 2025

9. 14:40 – OpenAI Buys io for $6.5B — Without a Product

10. 18:00 – Jony Ive, Sam Altman, and the No-Screen Device

11. 22:30 – The Theater of Tech Acquisitions

12. 23:45 – Meme Coins and Microcaps

13. 25:00 – Closing Thoughts and TikTok Push

• Sui hack 2025

• Bitcoin ATH May 2025

• Trump meme coin

• OpenAI io acquisition

• Jony Ive OpenAI device

• Altcoin season prediction

• Cetus DEX hack

• Layer one vs layer two

• Avalanche FIFA blockchain

• Crypto podcast 2025

• NFA podcast

• Michiel and Nish crypto

• Decentralized exchange hacks

• AI hardware OpenAI