Empire

In this episode of Empire's Weekly Roundup, Jason is joined by two of Blockworks' top research analysts, Dan Smith and Sam Martin, to discuss this week’s biggest stories. Highlights include: -- Is Sudoswap a zero to one moment for NFTs? -- Is Ethereum's censorship resistance compromised? -- Will anyone use ETH PoW post-merge? Tune in to find out! - - Timecodes: (00:00) Introduction (00:32) Ethereum's censorship risk, 3 potential outcomes (11:40) Will the ETH PoW chain have value? (15:42) FlashBots is open sourcing their relayer software (19:19) Crypto's reliance on centralized cloud providers (21:24) Avalanche Ad (22:52) Sudoswap, a zero to one moment for NFTs? (33:17) OpenSea vs Sudo (35:48) Should NFTs have creator royalty fees? (39:12) Canto, a weird crypto experiment (NFA) (47:26) Canada enforces new crypto regulation - - Follow Dan: https://twitter.com/smyyguy Follow Sam: https://twitter.com/swmartin19 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 - - Referenced in the show: Blockworks Research https://www.blockworksresearch.com/ Ape Board (migrated to Nansen Portfolio) https://portfolio.nansen.ai/ -- Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/ -- 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.

19 Aug 202250min

In this episode of Empire, Jason and Santi are joined by Jake Brukhman, the founder and CEO of CoinFund, to explore the concept of crypto as a public good. We discuss: -- How crypto is a public good, and why that's important -- How public goods can monetize and accrue value -- How crypto will democratize public goods funding Tune in for these answers and more! - - Timestamps (00:00) Introduction (02:23) Defining Crypto's Value Proposition (07:17) Private vs Public vs Common Goods (13:59) Can Public Goods Accrue Value? (28:41) The Tragedy Of The Commons  (32:35) What Crypto Skeptics Get Wrong (38:32) Why Users Will Want Decentralized Networks (41:50) A New Business Model To Fund Public Goods (50:03) Rapid Fire Questions - - Follow Jake: https://twitter.com/jbrukh  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 -- The Network State by Balaji https://thenetworkstate.com/ -- 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.

15 Aug 20221h 3min

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the US Treasury's sanctions on Tornado Cash, Circle freezing USDC transfers, the future of KYC DeFi and more. Show Highlights: -- How do privacy protocols work?  -- Does this ban mean crypto isn't decentralized?  -- How did Circle freeze the transfer of USDC tokens? -- Should DeFi protocols be worried? - - Timestamps (00:00) Introduction (07:28) Tornado Cash Sanctioned By The US Treasury (14:44) How Mixers And Privacy Tokens Work (21:06) Github, Infura, AWS And Crypto’s Centralization Vectors (23:00) Core Ad (24:30) USDC Blacklist And Implications For DeFi (38:05) What Happens If All DeFi Is KYC’d  (41:54) How Does The Ban Affect Other Privacy Protocols (43:40) Curve Hack, Coinbase Earnings   (53:55) Uniswap Protocol Fee And Foundation Approved (58:46) ETH PoW Chain, Hot Or Not? (01:03:03) Reddit Embraces Web3 - - Follow Santi: https://twitter.com/santiagoroel 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 -- Referenced in the show: Eric Peters episode https://tinyurl.com/ydfhu6fd SWIFT & OFAC episode https://tinyurl.com/yc2jhfsn - - Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/ -- 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.

12 Aug 20221h 6min

In this episode of Empire, Jason and Santiago are joined by two crypto market experts, Jonah Van Bourg & Genia Mikhalchenko, to discuss the anatomy of a trade. An asset's price is derived from supply and demand, but who provides this liquidity, how are trades executed and what parties are involved? Tune in to find out & check out the highlights below! - The role of market makers - Why liquidity is the lifeblood of trading - How liquidity providers performed in the recent market crash - Why trade size matters and the risks of front running - The 3 most important things when evaluating an exchange - Understanding counterparty risks - How much leverage is left in the system - Consolidation is coming - Will legacy financial institutions compete with crypto-native service providers - - Follow Genia: https://twitter.com/Genia_xx Follow Jonah: https://twitter.com/jvb_xyz 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 Cumberland website https://cumberland.io/ BitMEX website https://www.bitmex.com/ -- (00:00) Introduction (01:36) How Market Makers Work (08:42) Operating An Exchange In a Bear Market (11:10) The Risk of Front Running (15:47) Understanding Counterparty Risk (18:50) Balancing Retail & Institutional Liquidity (25:50) How Much Leverage Is Left In the System? (32:40) The Relationship Between DeFi and Centralized Services (37:43) Biggest Opportunities, On and Off Chain (40:40) Consolidation Is Coming (43:06) Are Legacy Financial Institutions A Threat to Crypto Service Providers? (46:32) Rapid Fire Questions -- 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.

8 Aug 202258min

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the current market, angel investing, and the week's biggest news. Highlights include: - Santi's learnings from angel investing - Why this market is a great setup for investors - Santi explains why he's over-indexed on ETH - Over $195M stolen between the Slope and Nomad hack - Details on the newly launched Synapse chain - Should protocols vertically integrate or leverage composability - Magic Eden vs OpenSea - Coinbase & Blackrock partnership - Tiffany launched a new IRL NFT project - - Follow Santi: https://twitter.com/santiagoroel 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 - - Referenced in the show: Twitter accounts to follow https://twitter.com/adamscochran https://twitter.com/tayvano_ https://twitter.com/samczsun https://twitter.com/0xfoobar Raj tweet on the need for Solana Mobile https://twitter.com/rajgokal/status/1554889457928613889 Blockworks Research report on Synapse https://www.blockworksresearch.com/research/synapse/ Empire episode on Layer Zero https://sptfy.com/KWqY - - Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/ -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (02:31) Market Update & Why Santi Is "Feeling Hot" (05:45) Santi's Angel Investment Strategy  (17:03) Why Santi Is Over Indexed on ETH (25:53) Solana (aka Slope) Hack (35:31) Core Ad (37:00) Nomad Hacked for $190M  (40:18) NFTs, the Building Blocks of a Web3 CRM (46:16) Synapse Launches Their Own Chain (54:04) Protocol Vertical Integration vs Compatibility (59:50) Magic Eden & Marketplace Businesses (1:03:18) Michael Saylor, Coinbase/Blackrock Partnership and Other Headlines (1:05:43) Coinbase Finds Momentum  (01:12:38) Tiffany Is Launching 250 Punk Pendants  -- 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.

5 Aug 20221h 16min

Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ Use code EMPIRE250 to get $250 off tickets (Only available this week!) -- In this episode of Empire, Jason and Mike are joined by Dan Matuszewski (CMS Holdings) & Avi Felman (GoldenTree). If you don't know these two names, don't forget them - two of the best traders and sources of alpha in crypto. This episode is one of my favorites yet; check out the highlights below: - Is macro crypto's master - This will lead to crypto's divergence with Macro - How will ETH perform with the merge - What are the new, hidden narratives - The tradeoff between CeFi and DeFi - Is DeFi ready to take off - Retail open-term lending is dead - Regulators have two options - Why VCs are in trouble - - Follow Dan: https://twitter.com/cmsholdings Follow Avi: https://twitter.com/AviFelman Follow Jason: https://twitter.com/JasonYanowitz Follow Mike: https://twitter.com/MikeIppolito_ 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 -- (00:00) Introduction (01:08) The intersection of macro & crypto (12:47) How Will ETH's Price React to the Merge? (17:50) New Narratives & Market Leverage (25:28) A Catalyst for DeFi (29:10) What's About to Happen in CeFi? (31:37) Your DeFi Project Isn't Sexy (35:45) Can DeFi Tokens Accure Value? (41:23) Why You Should Avoid Low Float Tokens (44:27) VCs Are In Trouble (49:20) Avi and Dan Run Wild (51:06) Wrapping Things Up -- 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.

1 Aug 20221h 1min

In this episode of Empire's Weekly Roundup, Jason and Santi are joined by Brett Winton, the Director of Research at ARK invest. We discuss the heated Uniswap fee controversy, token business models, DAO governance and the securitization of everything. We also discuss ARK's unique investment strategy and crypto thesis. This is one special roundup. Highlights include: - How to play the current macro market - The securitization of everything - Coinbase's opportunity - Potential business models for Uniswap - Will DeFi fees go to zero - The secret to diversification - Brett's #1 consideration when hiring - - Follow Brett: https://twitter.com/wintonARK Follow Santi: https://twitter.com/santiagoroel 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 - - Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code EMPIRE250 to get $250 off tickets (Only available this week!) - - Referenced in the show: ARK Invest https://ark-invest.com/ ARK's Bitcoin Monthly Research https://ark-invest.com/lp-bitcoin-monthly/ Howard Mark's Letter on being Unconventional https://www.oaktreecapital.com/insights/memo/i-beg-to-differ Lido Treasury Sale Proposal https://research.lido.fi/t/treasury-diversification-2-part-2/2657 - - Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/ -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (01:47) Where Are Interest Rates Headed? (08:38) An Inevitable Movie Towards Financial Transparency  (12:00) Three Revolutions Catalyzed by Bitcoin (27:52) Ava Labs Core (29:20) Coinbase and the Securitization of Everything (41:48) Uniswap fee switch and token business models (53:16) DAO governance and capital allocation (59:12) How ARK assesses new investments (1:06:01) Has inflation peaked, BTC as the reserve asset and more (1:10:58) Why curiosity is Brett's #1 hiring criteria (1:17:08) What ARK believes that many others don't (yet) -- 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.

29 Jul 20221h 22min

In this episode of Empire, Jason and Santi are joined by Erik Voorhees, the founder of Shapeshift and OG of the crypto industry (joining in 2011). Erik believes crypto can change the world, and this episode explores his thesis on Bitcoin's future, on-chain maximalism, DAO structures and crypto's path to adoption. Highlights include: - What is the best form of money - Bitcoin's tail emission risk - How DeFi will outperform CeFi - Will all financial transactions be on-chain? - The likely path to adoption - Why DAO failures are a sign of innovation - Thoughts on regulation - The future of centralized exchanges - Why Thorchain is a gamechanger - - Follow Erik: https://twitter.com/ErikVoorhees 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 - - ParaSwap: If you want to make a swap at the best price across the DeFi market, check out http://paraswap.io/empire ParaSwap’s state-of-the-art algorithm beats the market price across all major DEXs and brings you the most optimized swaps with the best prices and lowest slippage. Disclaimer: 0 fees are limited to 3 weeks or first 500k. - - Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ Use code EMPIRE250 to get $250 off tickets (Only available this week!) -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (01:32) Moving Beyond Bitcoin  (03:50) Bitcoin Is The Best Form of Money (05:34) Bitcoin's Declining Block Subsidy (11:13) Woke Culture vs Bitcoin Maximalism  (12:50) The Bifurcation of CeFi and DeFi (16:18) Limits to DeFi's Growth  (22:50) Why Users Will Want To Use DeFi (26:50) A Short and Long Term Vision of the World (28:48) Paraswap Ad (29:56) The Path to Adoption (35:38) Is The Worst Behind Us? (37:22) Erik's Current Focus (38:38) DAO Structures and Experimentation (46:08) A DAOs Most Important Use Case (49:30) Iterative Regulation  (55:54) Centralized Exchanges (57:05) Thorchain's Use Case  (58:48) Advice To New People In the Space -- 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.

25 Jul 20221h 4min