The Ultimate Coinbase Debate: Can It Survive? | Jeff Dorman
Empire5 Touko 2025

The Ultimate Coinbase Debate: Can It Survive? | Jeff Dorman

Gm! This week we're joined by Jeff Dorman to discuss his recent tweet on the bear case for Coinbase. We deep dive into the Coinbase business model, the rise of DEXs (Hyperliquid), who is best positioned to win the exchange wars, the opportunity for DeFi & more. Enjoy! -- Start your day with crypto news, analysis and data from Katherine Ross. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts -- Follow Jeff: https://x.com/jdorman81 Follow Santi: https://x.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Grab your tickets to Permissionless IV. Use code EMPIRE10 for 10% off: https://blockworks.co/event/permissionless-iv -- Petra Earn was designed to make DeFi more accessible for everyone—from seasoned pros to DeFi beginners. Manage your balance, claim rewards and deposit directly from the app. By supplying USDT to Aries lending pools, users have the potential to earn a higher yield compared to some traditional methods. Not financial advice. Participating in Defi carries risks. To learn more visit https://petra.app/earn -- Zenrock is a permissionless, decentralized custody network backed by 1RoundTable Partners, 10T, Maven11, and Spartan. Live on Jupiter, $ROCK is the native token for transactions within the Zenrock ecosystem and secures Zenrock’s decentralized custody network. The first application launching on Zenrock is zenBTC – yield-bearing Bitcoin on Solana. zenBTC will be live in April 2025. -- Crypto never sleeps. So we built an Al analyst that never blinks. Meet Focal by FalconX: a GenAI insights engine built for institutional crypto. Already used by 80+ funds managing $10B+ in AUM. 🔹 Screen, chart, and analyze 1300+ tokens 🔹 Summarize market-moving news instantly 🔹 Integrates data from CoinGecko, Kaito, Token Terminal, Tokenomist, The Tie Get started today: https://askfocal.com -- Token.com is a social-first crypto platform transforming how people discover and trade through crypto content. The revolutionary in-feed trading turns complex crypto into intuitive investments, while content creators earn from every trade and projects amplify their stories through native tokens - creating a new era of social media-powered crypto discovery. Just scroll to watch and tap to invest. Download the app! -- Timestamps: (00:00) Intro (03:06) Do Fundamentals Matter In Crypto? (08:58) Ripple's Breakthrough Moment (11:38) Ads (Aptos, Zenrock) (12:58) The Coinbase Business Model (20:59) Are Coinbase Users Sticky? (25:29) The Rise Of DEXs (31:41) Ads (Aptos, Zenrock) (33:01) Is There A Bull Case For Coinbase? (37:55) Tokenization (43:37) Ads (Falcon x, Token.com) (45:05) The Opportunity For DeFi (50:32) Value Accrual (57:07) How To Bring Assets Onchain (01:10:09) Should Securities Laws Be Updated? -- 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.

Jaksot(596)

Genesis on the Brink of Collapse | foobar

Genesis on the Brink of Collapse | foobar

Genesis, crypto's largest lender, just froze withdrawals and new loan orginations. Would a Genesis collapse have wider impacts than FTX's demise? Genesis sits at the direct center of crypto capital markets. They custody funds. They help institutions earn yield. They are the yield product for CeFi platforms. Genesis touches almost everything... We bring on foobar to discuss! Note: A spokesperson at Anchorage (mentioned in the ep), shared this great update: "Anchorage Digital does not lend or repurpose client assets without a client's permission and we have no commercial relationship with Genesis." - - Follow foobar: https://twitter.com/0xfoobar 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/ - - Resources Jason's thread on Genesis https://twitter.com/JasonYanowitz/status/1592917789898989568 Circle's tweets on Genesis https://twitter.com/circle/status/1592940639645495298 - - 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.

16 Marras 20221h 8min

The Regulatory Impact of FTX | Kristin Smith, Jake Chervinsky

The Regulatory Impact of FTX | Kristin Smith, Jake Chervinsky

In this episode of Empire, Kristin Smith and Jake Chervinsky join us to discuss how FTX's collapse will impact crypto regulation. SBF was the poster child of crypto in D.C. - how will his fallout damage crypto's reputation? Did regulators fail consumers, and how will they respond? What are the shortcomings of the DCCPA bill? How important are the political midterms, and what is happening in the securities vs commodities debate? Tune in to find out! - - Timestamps: (00:00) Introduction (00:54) SBF’s Unbelievable Damage (07:17) How Active Was SBF In D.C.? (09:52) The First Red Flags & DCCPA Threats (22:56) Where Regulators Failed (27:32) Expected Reaction From D.C. (33:43) Circle Ad (35:26) DCCPA Overview & Its Impact On DeFi (47:53) What The Midterms Mean For Crypto (50:55) The Litigation Phase (55:07) LBRY, Ripple & Progressive Decentralization (1:03:45) A Path Forward - - Follow Kristin: https://twitter.com/KMSmithDC Follow Jake: https://twitter.com/jchervinsky 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 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Jake's tweet thread on DCCPA https://twitter.com/jchervinsky/status/1570451252852527104 Brian Amstrong's response to Elizabeth Warren https://twitter.com/brian_armstrong/status/1590511022104010753 Ron Hammond's tweet thread on FTX/SBF https://twitter.com/ronwhammond/status/1590741692348772352 Blockchain Association website https://theblockchainassociation.org/ - - 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.

15 Marras 20221h 7min

Crypto’s 2001 Moment: How Bad Will This Get? | Avichal Garg & Haseeb Qureshi

Crypto’s 2001 Moment: How Bad Will This Get? | Avichal Garg & Haseeb Qureshi

In this episode of Empire, Avichal Garg Founder of Electric Capital and Haseeb Qureshi Managing Partner at Dragonfly Capital join the show to discuss the fallout of FTX. Avichal and Haseeb discuss the structure between FTX and Alameda Research, looking behind the curtain into how intertwined the two entities were. We then go on to discuss the potential contagion between large CeFi companies in crypto who could have exposure to FTX and Alemeda. To hear all this and more, you'll have to tune in! -- Follow Avichal https://twitter.com/avichal Follow Haseeb: https://twitter.com/hosseeb 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 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - 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. Disclaimer: Scammers are impersonating Blockworks and replying to comments on some of our videos. Please be advised that we will NEVER reply to your comment asking you to contact us on whatsapp, telegram, provide investment advice, or solicit money from you. These are scam impersonator accounts and you should not respond to them.

12 Marras 202248min

Why Binance Might Acquire FTX | Breaking News

Why Binance Might Acquire FTX | Breaking News

Binance is considering acquiring FTX. I never thought I'd type those words. What just happened? How did FTX go from a market-leading exchange to near insolvency? Is there contagion risk, and how will regulators respond? Tune in to find out! - - Follow Vance: https://twitter.com/pythianism Follow Michael: https://twitter.com/im_manderson Follow Santi: https://twitter.com/santiagoroel Follow Mike: https://twitter.com/MikeIppolito_ 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 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.

9 Marras 20221h 28min

a16z's Crypto Thesis | Arianna Simpson, Ali Yahya

a16z's Crypto Thesis | Arianna Simpson, Ali Yahya

In this episode of Empire, Arianna Simpson and Ali Yahya join to discuss a16z's crypto thesis. We start with Ali's network flywheel framework, the future of interoperability and protocol value capture. Do protocols have moats? Is the L1 trade over? Will applications accrue an outsized share of crypto's value? We then discuss DAO governance, music NFTs, zero-knowledge proofs and crypto's open design space. This is one of those can't-miss episodes! - - Timestamps: (00:00) Intro (01:14) Crypto's Network Flywheel (08:40) Is The L1 Trade Over? (20:52) a16z’s Value Accrual Framework (28:03) Circle ad (29:45) Infrastructure Unlocks (37:55) a16z’s Governance & DAO Philosophy (44:33) Evolution of Web3 Gaming (49:19) Music NFTs (55:22) ZK Proofs & Building Privacy Into Blockchains (1:00:33) What Feels Obvious That Others Are Missing? - - Follow Arianna https://twitter.com/AriannaSimpson Follow Ali: https://twitter.com/alive_eth 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 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Ali's network flywheel tweet thread https://twitter.com/alive_eth/status/1296831069065375749 Computers That Can Make Commitments (Chris Dixon) https://a16z.com/2020/01/27/computers-that-make-commitments/ The Fat Protocol Thesis https://www.usv.com/writing/2016/08/fat-protocols/ The Internet Economy https://cdixon.org/2016/03/13/the-internet-economy Commoditize Your Complements https://www.joelonsoftware.com/2002/06/12/strategy-letter-v/ The Myth of The Infrastructure Phase https://www.usv.com/writing/2018/10/the-myth-of-the-infrastructure-phase/ 1000 True Fans https://kk.org/thetechnium/1000-true-fans/ - - 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. Disclaimer: Scammers are impersonating Blockworks and replying to comments on some of our videos. Please be advised that we will NEVER reply to your comment asking you to contact us on whatsapp, telegram, provide investment advice, or solicit money from you. These are scam impersonator accounts and you should not respond to them.

7 Marras 20221h 6min

J.P. Morgan’s Aave Trade Explained | Matthew Blumberg, Byron Gilliam

J.P. Morgan’s Aave Trade Explained | Matthew Blumberg, Byron Gilliam

In this episode of Empire's Weekly Roundup, we bring on Matthew Blumberg and Byron Gilliam to discuss how J.P. Morgan - the largest bank in the US - just made history. What happened? J.P. Morgan executed their first trade on a public blockchain (sup Polygon) using an Aave Arc clone. Tune in to find out what happened, why J.P. Morgan chose Polygon, how enterprise crypto adoption will likely play out and more! - - Timestamps: (00:00) Introduction (00:42) JP Morgan’s Aave Trade, What Happened? (10:53) Permissioned DeFi, Why Do This On-Chain? (25:09) The Aave Mafia (26:08) Will Polygon Remain "Loyal" To Ethereum? (31:50) Why J.P. Morgan Chose Polygon (37:51) Social Media Is Adopting Web3 - - Follow Jason: https://twitter.com/JasonYanowitz Follow Matt: https://twitter.com/matt_blumberg Follow Byron: https://twitter.com/bgilliam1982 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/ - - Resources Decent Crypto Podcast (hosted by Matt) https://spoti.fi/3FKxBJW Ty Lobban's tweet thread on the J.P. Morgan trade https://twitter.com/TyLobban/status/1587679344792829954 Erik Voorhees & SBF on Bankless https://spoti.fi/3FIPw3M Sandeep's tweet on Polygon "bringing the world to Ethereum" https://twitter.com/sandeepnailwal/status/1587949120031006721 - - 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.

4 Marras 202242min

Arbitrum’s Roadmap To Scale Ethereum | Steven Goldfeder, Raul Jordan

Arbitrum’s Roadmap To Scale Ethereum | Steven Goldfeder, Raul Jordan

In this episode of Empire, Santi is joined by Steven Goldfeder and Raul Jordan to discuss the Prsymatic Labs acquisition and the future of Arbitrum. We cover Arbitrum's approach to state growth, AnyTrust chains, developer usability, ZK tech and more. And trust me, Steven's take on enterprises leveraging crypto is worth staying until the end! - - Timestamps: (00:00) Introduction (03:57) Arbitrum Acquires Prysmatic Labs (09:04) Monetizing Open Source & Building For Ethereum (17:29) State Growth, ZK Tech And L2 Innovations (31:14) Are L2s Ready For Prime Time? (35:51) Circle Ad (37:33) Arbitrum AnyTrust Chains (42:40) User & Developer Acquisition (46:31) What Changed After The Merge? (49:31) Reddit Points & Enterprise Interest (1:00:11) L1 Censorship Risk - - Follow Steven: https://twitter.com/sgoldfed Follow Raul: https://twitter.com/rauljordaneth 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/ -- Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Offchain Labs website https://offchainlabs.com/ - - 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.

31 Loka 20221h 7min

Reddit Embraces Web3, Apple NFT Drama & FedCoin | Roundup

Reddit Embraces Web3, Apple NFT Drama & FedCoin | Roundup

In this episode of Empire's Weekly Roundup, we discuss Reddit embracing NFTs, Apple's new NFT policy, the future of stablecoins (FedCoin?), Elon's Twitter takeover and more. Tune in for the spiciest stories and takes of the week! - - Timestamps: (00:00) Intro (02:41) Tech Stocks, VR & Elon Twitter Takeover (14:25) Apple’s NFT Announcement, Bullish? (23:17) Reddit Brings NFTs To $3M+ Users (29:33) What Makes Crypto Special (36:57) FTX Stablecoin Rumors & FedCoin Talk (48:14) Solana Virtual Machine Alpha  - - Follow Santi: https://twitter.com/santiagoroel  Follow Garrett: https://twitter.com/G_C_Harp 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/  --  Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Vibe Bio Empire Podcast https://spoti.fi/3FnQ2Uk Nudge (book) https://amzn.to/3DbVzuJ Matt Levine's crypto manifesto https://www.bloomberg.com/features/2022-the-crypto-story/ Chris Burniske's tweet on the SVM  https://twitter.com/cburniske/status/1585346624574083072 - -  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.

28 Loka 202250min

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