In episode 30 of the NFA Podcast, Nish and Frackers work through one of the most turbulent weeks in crypto and AI. The conversation opens with live Bitcoin price alerts showing sharp volatility, setting the tone for a broader discussion on the market drawdown, and new rules proposed in the EU and UK that tighten oversight on cash and stable coins. The two explore why trust in central authorities is being tested and why gold and silver have suddenly diverged from crypto.

They then shift to Coinbase’s attempt to reinvent the ICO era and the rising difficulty of launching tokens in a market that now holds more than 10 million tokens. From there Nish and Frackers move into the AI sector, debating whether AI valuations are sustainable after hundreds of billions have been spent oninfrastructure and whether big tech’s decision to use debt for AI expansion is a sign of strength or impending doom.

In the markets segment, our hosts review last week’s predictions of the Bitcoin price, the altcoin season index and the fear & greed index, compare their accuracy, and set new targets for next week - knowing they will probably be wrong. The episode ends with the trading competition update, where Michiel’s diversified tech picks and Nish’s single-asset Solana position show very different risk profiles. They close with a discussion about long-term Bitcoin allocation, mainstream adoption and how early the industry still is.But remember: the NFA Podcast is not financial advice! Chapter List

00:00 Opening and introduction

01:03 News: market volatility, US elections, EU cash limits, UK stable coin caps

02:49 Live Bitcoin price alerts and extreme volatility

03:25 More news: BOE stable coinrules, de-dollarization and metals divergence

06:06 IRS allows staking rewards for Wall Street products

06:50 Coinbase tries to reinvent the ICO

07:44 The return of token launch mania and 11 million tokens in circulation

09:03 AI segment: OpenAI costs, business models and infrastructure strain

10:28 Is the AI sector in a bubble

11:52 Big tech taking debt for AI expansion

14:00 Government backstops for AI infrastructure

16:15 Markets: reviewing last week’s predictions

17:12 Altcoin season index and fear and greed index

18:45 Setting next week’s predictions

20:40 Why volatility is flushing outweak new money

22:24 Altcoins, bots and manipulation pressures

23:40 Trading competition update

25:27 Solana position, drawdowns and psychology

26:28 Should the competition reset next year

27:26 Long term Bitcoin allocation strategy

28:20 Why crypto adoption is still early

29:25 Bitcoin, future finance and generational exposure

30:21 Robotics, AI assistants and public fear

30:50 Closing remarks and teaser for next week’s guest

 Keywordscrypto, Bitcoin, Solana, market volatility, altcoins, stable coins,EU regulation, Bank of England, Coinbase ICO, token launches, OpenAI, AI infrastructure, AI bubble, big tech debt, de-dollarization, gold and silver, IRS staking rules, trading competition, NFA Podcast, emerging tech, Web3, centralbank policies, market psychology crypto, Bitcoin, Solana, market volatility, altcoins, stable coins, EU regulation, Bank of England, Coinbase ICO, token launches, OpenAI, AIinfrastructure, AI bubble, big tech debt, de-dollarization, gold and silver, IRS staking rules, trading competition, NFA Podcast, emerging tech, Web3, central bank policies, market psychology

Keywords

Two major DeFi disasters, one exchange scandal, and atrillion-dollar AI story. In this episode of the NFA Podcast, Frackers and Nish cover one of the busiest weeks in crypto and AI. They start with a grim market mood — Solana down 20%, Bitcoin slipping 10% — and discuss how institutional investors are changing crypto’s long-term dynamics.

The conversation turns political when Nish highlights on-chainevidence suggesting Eric Trump’s wallets traded Solana before Donald Trump publicly endorsed it. Michiel questions the proof but agrees Trump’s policies were good for crypto adoption.

They move to the week’s biggest DeFi stories: Stream Finance’s $93 million loss and Balancer’s $128 million bridge hack, two reminders of how fragile decentralized systems remain. Nish points to ongoing trust issues with both DeFi and centralized exchanges, like MEXC's admission it handled the situation where it froze assets of its customer "the White Whale"poorly.

Michiel then shifts the conversation to AI — OpenAI’s $38 billionAWS deal, its potential trillion-dollar IPO, and how that could ignite another AI-infrastructure boom. After having been criticial of OpenAI in the past, Michiel is unusually bullish about its prospects now that it can raise fund as a 'normal company' and fund its operating losses and growth through a potentiallyhistoric IPO.

The episode ends with a hard look at markets, the latest cryptocrash, and Nish and Frackers make their predictions for next week:

Nish

·     Bitcoin: $104.300

·     Altcoin Index: 30

·     Fear & Greed Index: 30

Frackers

·   Bitcoin: $109.000

·     Altcoin Index: 26

·    Fear & Greed Index: 25

The NFA Trading Competition that took a very unexpected turn this week, because both Nish and Frackers made huge changes to their portfolios... with a very surprising result. You can see their portfolios here.

But remember: the NFA Podcast is not financial advice!See you next week.

Chapter List

00:00 Intro – What’s coming up this week

01:14 Market overview and current sentiment

03:30 Trump, insider trading, and crypto politics

06:45 The $93M Stream Finance loss

08:26 Stablecoins and system risks

11:47 The $128M Balancer hack

14:00 MEXC vs White Whale – exchange scandal

16:49 OpenAI, Microsoft, and the AWS megadeal

20:10 AI market impact and layoffs

22:27 Market data and crypto correction

25:02 Bitcoin and altcoin predictions

26:10 Trading competition results

29:31 Wrap-up and outro

Topics and themes

·       DeFi exploits

·       Stream Finance loss

·       Balancer bridge hack

·       MEXC scandal

·       Crypto regulation

·       Institutional adoption

·       Trump insider trading

·       Stablecoins and audits

·       OpenAI AWS deal

·       AI infrastructure boom

·       Market analysis

·       Bitcoin prediction

·       Altcoin index

·       Trading competition

#NFAPodcast #DeFi #CryptoNews #OpenAI #AI #Bitcoin #Altcoins #Stablecoins #TrumpCrypto #MEXC #Balancer #StreamFinance #Markets #Web3 #Fintech #TechInvesting

Chapter List Tags and KeywordsHashtags

Summary

In this week’s episode, Michiel and Nish tackle the explosive time in crypto markets — with Bitcoin smashing through $125K and BNB hitting all-time highs, before retreating. They unpack why “Uptober” might be more than just a meme, discuss what Jeff Bezos had to say about the real winners in the AI race, and debate whether the AI bubble could be a good thing forinfrastructure investors.

The conversation then turns serious with disturbing real-worldstories about AI chatbots harming children, including the tragic case of a teenager influenced by ChatGPT. Michiel and Nish question the lack of AI regulation compared to crypto’s heavy oversight.

Other topics include the UK’s biggest money-laundering caseinvolving 61,000 stolen Bitcoins, Donald Trump Jr.’s appearance at Token2049, and the latest moves in their ongoing trading competition — with Nish’s “Uptober energy” going head-to-head against Michiel’s diversified portfolio strategy.

Michiel keeps a diversified portfolio including Broadcom, Intel,Nvidia, and Sui. The show ends with friendly debate about BNB possibly becoming the next major Ethereum challenger.

Chapters

00:00 – Introduction and what’s coming up this week

01:00 – Bitcoin, BNB and Uptober market highs

05:00 – Interest rate cuts and crypto’s bullish sentiment

06:45 – Chatbots and AI ethics: the Adam Raine tragedy

09:10 – Meta’s chatbot scandal and Joseph Gordon-Levitt’s warning

10:30 – AI regulation vs crypto overregulation

11:45 – FTT token pumps after SBF’s “GM” tweet

12:20 – UK’s $5 billion Bitcoin money-laundering case

14:00 – Why regulators focus on crypto but ignore AI dangers

15:20 – Token2049: DJ sets, pickleball, and Donald Trump Jr.’s“Adapter” moment

17:00 – Jony Ive and OpenAI’s “screenless device”

18:00 – Jeff Bezos on the AI bubble and infrastructure winners

19:30 – Trading competition update: Solana, Sui, Broadcom, andIntel

25:00 – Institutional vs meme coin momentum

27:00 – What’s next in markets and trading plans

28:45 – Wrap-up and teaser for next week

Hyperliquid beats Robinhood, Avalanche ETF news, and how market makers manipulate the gameEpisode Summary

In this edition of the NFA Podcast, Nish and Michiel unpack achaotic week in crypto.

DeFi trading protocol Hyperliquid surpassed Robinhood’s trading volume, proving that decentralized platforms are no longer niche. Meanwhile, Kanye West’s Yeezy token crashed after investors realized it could freeze wallets, and the hosts debate why celebrity coins always end badly.

They also cover Trump’s $6B token deal, Grayscale’s ETF filing for Avalanche (AVAX), and the UAE’s $740 million Bitcoin position. Michiel shares shocking stories from CoinFest Bali, where projects told stories how they lost millions to shady exchange and launchpad deals — exposing howcentralized players can still rig the game.

The episode closes with the team’s trading competition update, where Nish’s meme coin gamble pays off (for now)and Michiel questions whether altcoin season is officially here.

A sharp mix of news, first-hand insights, and market analysis — no financial advice, as always.

Chapter List

00:00 Intro: Hyperliquid surpasses Robinhood

01:20 What Robinhood really is and why it matters

03:40 The Yeezy token disaster — another celebrity coin scam

05:50 Trump’s $6B token deal and XRP’s Ponzi claims

07:40 Decentralization vs centralized hype

08:10 Grok’s AI girlfriend controversy

10:20 AI arms race and the case for decentralizing AI

11:00 BitTensor, Sui, and Solana — price vs platform reality

13:30 Grayscale’s Avalanche ETF and Philippines blockchain plan

14:40 UAE government’s Bitcoin holdings

15:10 CoinFest Bali: what really happens behind exchange doors

17:00 The $1.6M exchange rug pull explained

19:15 “Bring your own liquidity”: launchpad and market maker manipulation

20:50 How regulation could fix the mess — and why it doesn’t

22:25 Why centralization still dominates crypto

23:00 Exchange hypocrisy: F1 sponsorships and fake progress

24:00 Altcoin season signals and Ethereum dominance

26:00 Trading competition update: Nish leads again

27:00 Meme coin mania: the rise of Blocky Boy

29:00 Closing thoughts — the DeFi vs TradFi gap widens

Crypto, DeFi, Altcoin Season, Bitcoin, Ethereum, Avalanche,Hyperliquid, Robinhood, Yeezy Token, Kanye West, Celebrity Coins, Trump Token, XRP, Grayscale ETF, BitTensor, Solana, Sui, MEXC, Market Makers, CoinFest, Decentralization, AI in Crypto, Grok AI, Nish Sachdev, Michiel Frackers, NFAPodcast

The NFA Podcast is not financial advice.

Tags & Keywords

Episode SummaryIn this week’s NFA Podcast, Nish and Frackers cover the biggesttech and crypto stories shaping the markets. The discussion starts with macro forces driving crypto, including ETF inflows and interest rates, and how these overshadow internal crypto news. They unpack the classic cycle of Bitcoin ATH, Ethereum surge, and the coming of altcoin season, with dominance and fear and greed indices painting a mixed picture.

The hosts then dissect Meta’s fourth AI restructuring in sixmonths. They critique Mark Zuckerberg’s buy-versus-build track record and ask whether Meta can produce AI products that are more than bolt-on features. They also highlight how consumer awareness and competition from platforms likeTelegram and TikTok could challenge Meta’s dominance.

Other stories include Thailand allowing tourists to convert crypto into Thai baht to boost tourism, new hardware wallet recovery models to replace vulnerable seed phrases, and Blue Origin accepting crypto (but converting to USDT immediately). The US government’s $6M reward for information on Garantex,a Russian crypto exchange used for illicit activity, rounds out the news.

Finally, Nish and Michiel update listeners on their tradingcompetition. Both portfolios are at $128 after a tough week, with Pudgy Penguins dragging Michiel down and meme coin A$$DAQ giving Nish some excitement. Solana, Broadcom, and Nvidia continue to show strength, proving that AI remains the strongest market driver. Chapter List

·       00:00 Intro and episode overview

·       01:07 Macro vs crypto drivers

·       02:30 Altcoin season signals

·       04:02 Meta’s AI restructuring

·       05:11 Zuckerberg’s business model

·       07:00 Competition and consumer shifts

·       08:03 Thailand’s crypto tourism plan

·       09:16 Seed phrase security and new wallet models

·       10:54 Blue Origin accepts crypto for space flights

·       12:03 US reward for Garantex information

·       13:08 Market update and predictions

·       14:42 Altcoin season indicators and XRP signals

·       16:01 F ear and greed vs altcoin index

·       17:01 Trading competition update

·       18:03 Pudgy Penguins loss and AI stock strength

·       19:37 Meme coin A$$DAQ explained

·       20:05 Wrap-up

Keywords

NFA Podcast, crypto, altcoin season, Bitcoin, Ethereum, XRP, BNB, AI, Meta, Mark Zuckerberg, Blue Origin, Jeff Bezos, Thailand crypto, seed phrases, Rider wallet, Pudgy Penguins, Solana, Nvidia, Broadcom, A$$DAQ, Garantex, crypto trading competition

The NFA Podcast is not financial advice

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