Matt and Nic are back with another week of news and deals. In this episode:

• Bitcoin grapples with the fallout of the Epstein Emails
• Did Jeffrey Epstein influence Bitcoin development?
• Is Bhutan selling their Bitcoin?
• Do Bitcoin devs care about quantum?
• Is Bitcoin Core under the influence with sophons
• Kyle Samani steps back from Multicoin
• What Samani's departure means for crypto
• Is web3 dead forever?
• Vitalik starts second-guessing the L2-centric roadmap
• Tether is trading at a slight discount

Content mentioned in this episode:

• Nic on Substack, Bitcoin developers are mostly not concerned about quantum risk

Matt and Nic are back with another week of news and deals. In this episode:

• Matt is heated about the Belichick HoF vote
• Fidelity launches a stablecoin FIDD on Ethereum
• Market structure passes Senate Ag Cmte
• The White House crypto council is being revived to find a compromise on stablecoin yield
• Fairshake has another war chest for the midterms
• Do stablecoins cause bank deposit contraction?
• Tether has 140 tons of gold now
• Why is Bitcoin not participating in the "debasement" trade?
• Is gold at risk from alchemy?
• People are still worried about quantum
• Will Worldcoin save us from AI bots?
• What's the solution to the AI slop apocalypse?
• Digital alibis with blockchains

Content mentioned in this episode:

• Niall Ferguson and Manny Rincon-Cruz, Stablecoins Are the Future but Banks will Survive
• McKinsey and Artemis, Stablecoins in payments: What the raw transaction numbers miss

Nic and Matt are back for another week of news and deals. In this episode:

• There's a big storm coming
• Matt's playoff picks
• Farcaster sells to Neynar
• Is this the nail in the coffin for Web3Social?
• Where Farcaster went wrong
• BitGo goes public
• NYSE is building a tokenized security trading platform
• Are we looping back around to enterprise blockchains?
• A MA judge has issued an injunction against Kalshi
• Jeffries drops Bitcoin from its model portfolio over quantum risk
• Coinbase launches an advisory board on quantum
• Trump sues JPM for debanking him
• Does the Central Bank of Iran really control $500m worth of USDT?
• What's next for Caroline Ellison?

Matt and Nic are back after a week off. In this episode:

• The Clarity market structure bill markup is delayed for now
• Coinbase backs out of supporting Clarity
• The bank lobby is trying to torpedo Clarity
• Kontigo is accused of ignoring sanctions
• X changes its API to block InfoFi
• California's wealth tax has backfired already
• BitMine invests $200m into Mr Beast's company
• Why tokenized deposits aren't as interesting as stablecoins

Content mentioned in this episode:

• Jason Mikula, Kontigo: Y Combinator's Venezuelan Sanctions Evasion Startup

Wyatt, Henry, and Jake recently put out a report called "Total Value Lost", exploring how best to assess the value of various DeFi markets - starting with lending markets. This episode is a continuation of that conversation, exploring what carries value in DeFi going forward, particularly on the back of a shaky market period. This discussion covers:

• Where does the recent, ongoing market selloff leave us?
• What metrics matter for onchain markets?
• What market dynamics contributed to the October 10 washout?
• How does leverage manifest in onchain markets, and what does it look like today?
• How do you assess the value of illiquid cryptoassets?
• What drives revenue multiples.
• Which protocols will benefit from the tokenization of other asset classes, and which will struggle?
• How do the individual behaviors and incentives of investment funds contribute to crypto market volatility?

Matt and Nic are back for the first OTB show of 2026. In this episode:

• Matt's ice rink adventures
• The House issues a draft of the PARITY Act
• The trouble with wealth taxes
• DATs continue to bleed out
• We talk about Nic's fiction story
• Predictions for 2026
• Is there a secret exchange insolvency?
• What constitutes insider trading for prediction markets?
• Is the four year cycle finally over?
• Is it time to try socialfi again?
• Kickstarter snafus

Content mentioned in this episode:

• Nic Carter, Trillion Dollar Salvage

Matthew Le Merle and Mitch Mechigian of Blockchain Coinvestors join the show. In this episode we discuss:

• The top 5 themes of 2025 for the blockchain industry
• 2026 predictions and key themes to monitor

To learn more about Blockchain Coinvestors visit fifthera.com/blockchain

Matt and Nic are back for more deals and news. In this episode:

• Secret exchange insolvency rumors
• Caroline Ellison is free
• David Sacks says CLARITY is getting a markup
• The Fed rescinds their 2023 Novel Activities Supervision program
• Insolvent exchange prediction markets
• Visa's stablecoin advisory business
• JPM launches a tokenized Treasury fund MONY
• Quantum FUD
• Why Quantum might be a surprise
• Bitwise 2026 predictions
• The four year cycle is over
• Grabby aliens and the Dark Forest

Content mentioned in this episode:

• Talos and Factset, Year in Review

Henry sits down with Corn, head of business development at Yearn Finance, for a conversation about the evolution and current state of defi. In this episode:

• The history of defi from 2020 to today, and how the TerraLuna crash impacted the market
• How incentive mechanisms in defi have changed in 2025
• What caused the collapse of xUSD and Stream Finance?
• What is the role of risk curators in defi?
• The state of onchain cybersecurity and recent hacks
• What is the appetite for defi from non-crypto users and institutions, and will a declining fed funds rate help?
• How do defi protocols drive value to their native tokens?
• How "decentralized" is defi today?

Matt and Nic are back with more news and deals. In this episode:

• CIV grows the team
• Nic does not regret 8 years in crypto
• People are getting blackpilled about crypto
• Does speculation in crypto have positive externalities?
• Matt has never seen LOTR
• Will web3 ever come back?
• The OCC lets banks broker crypto trades
• The Bitwise 10 lists
• Rushi Manche returns with a fund
• Circle is launching a private stablecoin
• The DTC gets a no action letter from the SEC to settle tokenized securities
• We do a Terra/Luna restrospective
• Terra's fatal mistake
• Oracle mishaps on prediction markets
• Why did the nation's largest teachers union come out against the Market Structure bill

Content mentioned in this episode:

• Nic Carter and Allen Farrington, All Falls Down