Supply Shock (Blockworks)

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- Mark Yusko & Michael Anderson join the show for a livestream after the SEC’s approval of the Bitcoin ETF. -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow: Michael: https://twitter.com/im_manderson Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, Mike & Mark discuss the outlook for inflation in 2023. On the back of a 6.4% YoY CPI, could inflation remain sticky, or will the year ahead be met with a sharp decline in inflation? As "animal spirits" persist in markets, despite the yield curve repricing higher, and the terminal rate along with it, why are markets so intent on fighting the Fed? To hear all this and more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_on_... , you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Mark and I were joined by special guest Timothy Peterson to discuss a very important topic: how to properly value Bitcoin. I've included a summary of our content below, but if you are interested in finding out more info about Tim or his approach, there are lots of good resources on his website here. To kick things off, Tim gave us his framework for how to value Bitcoin, which relies on Metcalfe's Law. We talked about other networks including Facebook, Amazon, and even Tesla whose valuations can be traced to the same underlying principle.   We dove into historical periods where Bitcoin exceeded its fair value, and what caused those deviations. Next we took a look at Bitcoin's trailing returns vs user growth, and some other shorter term drivers of price action such as transaction volume. Tim gave us some helpful comparisons between Bitcoin and other markets, such as the market for negative yielding debt and the Nasdaq. We walked through why Bitcoin is correlated to those markets. Finally we ended on Ethereum, other crypto networks, and how network effects could impact a multi-chain future. For our conclusions there, you'll have to tune into the show. -- Follow Timothy Peterson: @nsquaredcrypto Follow Mark Yusko: @MarkYusko Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

This week in macro: Treasury yields fell to 1.5%, a possible sign of yield curve control. Then Dan Loeb and Brevan Howard started investing in Bitcoin, Coinbase debuted its direct listing, and Uniswap announced v3. All this and more on this week’s roundup with Michael Ippolito and Tyler Neville. If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this week's episode, Mike and Tyler covered Xi Jinping's 100th Anniversary speech, the jobs report, and NYDIG's recent spate of partnerships that make it one of the most important companies in crypto. Also, referenced in this week's episode is this clip from Charlie Munger who agrees with the CCP censoring Jack Ma. https://twitter.com/johncardillo/status/1410943453228306433 --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode of On The Margin Mike is joined by returning guest Danielle DiMartino Booth, CEO & Chief Strategist for Quill Intelligence. As a former advisor at the Federal Reserve Bank of Dallas, Danielle provides a unique insight into the Fed's policy decisions throughout 2022.  Danielle shares her thoughts on the dilemma's the Fed faces going into 2022, how the Fed exacerbated wealth inequality in America, Modern Monetary Theory, Universal Basic Income, her outlook for the U.S Dollar & so much more. -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

This week, Mark & Mike discuss the recent market rally and dive into wether this is a new bull cycle, or a classic bear market rally. We then discuss the Alameda venture capital portfolio that was released by the FT walking through the $5.4 Billion of investments on the excel spread sheet. To hear all this and more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_on_the_margin , you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this special episode, the Jason and Mike announce the launch of Expansion, a new Blockworks podcast focusing on the modular blockchain ecosystem. Expansion hosts Rex and NoSleepJon aim to explore the modular design concepts and architectural principles in the blockchain space. They highlight the benefits and challenges of modularity, the cultural and technical aspects, and how this new ecosystem is poised to disrupt existing technologies. Thanks for tuning in! - - Subscribe on YouTube: https://www.youtube.com/@expansionpod Subscribe on Apple: http://apple.co/4bGKYYM Subscribe on Spotify: http://spoti.fi/3Vaubq1 Follow Zon: https://x.com/ItsAlwaysZonny Follow Keone: https://x.com/keoneHD Follow Rex: https://x.com/LogarithmicRex Follow nosleepjon: https://x.com/nosleepjon Follow Expansion: https://x.com/ExpansionPod_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Timestamps (00:00) Introduction (05:07) Modularity in Crypto (18:50) Sovereignty & ZK with Modularity (25:30) Value Accrual in Crypto (35:11) Surviving Fragmentation (43:23) Modularity Ecosystem Competition - - Disclaimer Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion 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. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, David Choi Founder of MetStreet Labs joins the show to discuss a viral thread he wrote on the GBTC "widowmaker" trade that blew up in 2021. We deep dive into the mechanics of the GBTC arbitrage trade, the role of Bitcoin lenders (BlockFi, Genesis) & how the unwind of the GBTC widowmaker trade dragged down the industry in 2021 - 2022. We then compare to todays market conditions and why 2024 & beyond may be a more sustainable market environment for crypto. To hear all this & more, you'll have to tune in! -- Read David's thread here: https://twitter.com/0xZergs/status/1746126672451993999?s=20 -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow David: https://twitter.com/0xZergs Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- (00:00) Introduction (02:47) The GBTC Arbitrage Trade (08:44) Structure Of The Trade (15:24) BlockFi, Genesis & GBTC (19:18) MANTRA Ad (20:39) The Bitcoin Lending Market (23:11) When The GBTC Trade Started To Spiral (29:29) DAS London Plug (30:45) Unwinding The Trade (38:53) Current State Of The Market (46:10) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of On the Margin, Peter Boockvar Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report joins the show for a discussion on the path ahead for the U.S economy. As markets have rallied to start the year, Peter walks through the state of the U.S economy. With inflation having seemingly peaked, Powell seems confident that disinflation will be the path ahead for 2023. Peter breaks down Powell's recent comments at the press conference last week before discussing how interest rates being "higher for longer" will effect corporate & household balance sheets and wether the Fed will get their soft landing. To hear all this and more, you'll have to tune in! -- Follow Peter: https://twitter.com/pboockvar Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Today's show is sponsored by Public.com: Get a 4.9% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to https://Public.com/onthemargin *26-week T-bill rate (as of 2/6/23) when held to maturity. Rate shown is gross of fees. **As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22). -- Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Referenced In The Show: All Eyes On Inflation: "A Pause Is Not A Pivot" | Weekly Round Up: https://open.spotify.com/episode/50ABz990nXRh2NEXU6aVRd?si=3b9a53f609314f94 The Boock Report: https://boockreport.com/ -- Timestamps:  (00:00) Introduction (00:35) A Breakdown of The U.S Economy  (02:40) Why Animal Spirits Are Back For Markets  (08:45) Will Powell Get His Soft Landing?  (14:12) Public Ad (15:59) Rates Will Remain Higher For Longer (22:46) The Chinese Reopening  (27:00) The Path Ahead For Inflation  (30:40) Permissionless Announcement  (31:24) Preparing For A Recession  (38:50) Breaking Down Earnings  (46:16) "The Market Is Partying Like It's 2021" -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode of On the Margin, Danielle DiMartino Booth brings her deep historical knowledge of the Fed to a wide-ranging discussion of the economy. We cover the evolving role of the Federal Reserve, how the Fed "missed its chance" to normalize markets, the worsening relationship between the US and China, and her opinions on inflation vs deflation. ---- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

On today's episode of "On the Margin", Ben Hunt Author of Epsilon Theory & Doomberg, everyones favorite green chicken join the show to discuss "The Story Arc of SBF, FTX & Alameda". One month ago saw the collapse of SBF's crypto empire as FTX filed for bankruptcy. Ben & Doomberg discuss the ties between SBFs exchange FTX and trading firm Alameda Research. We then look into the use of the FTT token and how SBF was able to raise venture capital money at unrealistic valuations. Was SBF negligent in this situation, or did he intentionally commit fraud? To hear all this and more, you'll have to tune in! -- Follow Ben: https://twitter.com/EpsilonTheory Follow Doomberg: https://twitter.com/DoombergT Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC is one of the most trusted and widely used stablecoins in the digital asset industry. Check out their Transparency Hub at circle.com/transparency 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. -- Referenced In The Show: The MacGuffin, Part 2: The Story Arc of SBF and FTX: https://www.epsilontheory.com/the-macguffin-part-2-the-story-arc-of-sbf-and-ftx/  The MacGuffin, Part 1: The Corrupt Crypto ‘Revolution’: https://www.epsilontheory.com/the-macguffin-part-1/  How Sam Bankman-Fried’s Crypto Empire Collapsed: https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html -- Timestamps: (00:00) Introduction (01:36) The MacGuffin: The Story Arc of SBF & FTX (14:07) The FTX Bankruptcy & The Role of FTT (18:09) The Mechanics of Rehypothecation (27:25) Negligence or Criminality? (35:35) Circle Ad (36:55) How Much Political & Media Power Did SBF Buy? (42:50) The New York Times Puff Piece (49:59) The Role of Investors, Media & Regulators In The FTX Fallout (56:00) The Golden Age of Fraud (1:02:02) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this week's round up, Mark and I are joined by special guest Mike Green of Simplify Asset Management. This week we were focused on answering one big question: "how will sanctions and financial exclusion reshape geopolitics?" We kicked things off with a quote from Dwight Eisenhower's famous 1961 farewell address, wherein he coined the term "the military industrial complex." Eisenhower alluded to a powerful idea, which is that nations will always face pressure from without, but they must resist the urge to toss aside their ideals to face it. We discussed how Eisenhower's idea applies to today's geopolitical landscape, where hostile foreign powers and escalating conflict are leading to financial exclusion on both the domestic and international stage. Ultimately the talk converged on Bitcoin and whether or not state free money was possible or desirable. For that conclusion, you'll need to watch the episode. -- Follow Mark Yusko: @MarkYusko Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week we discuss the bullish setup post FOMC & QRA. We also discuss the rise of distrust in institutions, Japan's Minsky moment, the rise of passive & more. Enjoy! -- Kinto is the Safety-first L2 designed to accelerate the transition to an on-chain financial system. It features user-owned KYC and native account abstraction to solve the biggest blockers to mainstream adoption: security and user experience. Kinto's launch program is onboarding institutional players and DeFi users before its public launch. If you believe in bridging the gap between TradFi and DeFi today, join Kinto's launch program at https://engen.kinto.xyz -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Felix: https://twitter.com/fejau_inc Follow Tyler: https://twitter.com/Tyler_Neville_ Follow Quinn: https://twitter.com/qthomp Follow Mike: https://twitter.com/MikeIppolito_ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

A new chapter starts today. On the Margin is becoming a new show: Supply Shock, covering all things Bitcoin. Felix is back in the host seat for one last episode, passing the baton to Supply Shock's new host, Pete Rizzo AKA the Bitcoin Historian. They discuss Rizzo's deep lore, sovereign adoption of Bitcoin, and the state of Bitcoin innovation. They also delve into the rise of meme coins, the industry’s future, and more. Enjoy and check out the first full episode of Supply Shock with Jameson Lopp - it's already in the feed! — Follow Rizzo: https://x.com/pete_rizzo_ Follow Felix: https://x.com/fejau_inc Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/ — Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.  Join Ignition and get onchain: https://ignition.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks  Stake your Bitcoin with Core: https://stake.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:04) New Show & New Host: Pete Rizzo (04:19) Bitcoin's Historical Significance (07:16) Sovereign Adoption and Bitcoin's Global Impact (13:17) Ads (Core, Ledger, Ledn) (14:49) Sovereign Adoption and Bitcoin's Global Impact (Con't) (25:56) Ads (Core, Ledger, Ledn) (28:02) Innovations and Challenges in Bitcoin (33:40) The Future of Bitcoin and Crypto — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, Mark & Mike are joined by special guest Joseph Wang for a deep dive on the top stories of the week. SBF spoke at the New York Times Dealbook summit so we share our thoughts on that interview. We then move on to Powell's speech at the Brookings Institution where he hinted at a 50bp rate hike at the next FOMC meeting. Market's rallied after the speech as the expected a more dovish stance from the Fed going forward. What is the outlook for inflation, the job market and what Powell is signalling to the market into 2023? To find out, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Joseph: https://twitter.com/FedGuy12 Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_on_the_margin , you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this round up, Mark and I are joined by Arca CIO Jeff Dorman to answer the one question on everyone's mind: what is driving the flash crash in crypto markets? We discussed the impact the Fed's tightening is having on markets, why the PBOC's rate cuts aren't having as much of an effect on crypto, the importance of a strong Bitcoin to crypto markets, and where we will see dispersion in crypto in 2022. Per usual, Mark and Jeff brought the fire, tune in to get their thoughts. -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

We apologise for audio issues on todays episode! — Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX — This week, Mike & Mark take a deep dive into July's inflation data. Despite inflation ticking up due to base effects, the trend across developed economies remains disinflation, while China finds itself battling outright deflation. How will China's economic slowdown impact the global economy & markets? To hear all this & more, you'll have to tune in! — Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code MARGIN30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of On The Margin, we sit down with James Davolos Portfolio manager at Horizon Kinetics and Sholom Jacobs CEO and founder of Jacobs Real Estate Advisors for a discussion on commercial real estate and it's impact on the continued turmoil in the banking sector. With 70% of commercial real estate loans being supplied by small sized regional banks, how will low occupancy levels, higher interest rates and deposit flight to global systemically important banks (G-SIBs) impact the almost $20 trillion commercial real estate market? Is the collapse of SVB enough to cause a cascading "crisis of confidence" across the sector? To hear all this and more, you'll have to tune in! -- Follow Horizon Kinetics: https://twitter.com/HorizonKinetics Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of On The Margin Mike Ippolito is joined by Andreas Steno Larsen and Alfonso Peccatiello for a special announcement: Their new podcast “The Macro Trading Floor” will be launching Sunday, April 17th on the Blockworks network with a VERY special guest. To stay up to date with the new show, subscribe here: apple.co/38Maf8f With inflation soaring over 8%, bond markets selling off, and the Fed turning increasingly hawkish, Andreas and Alfonso explain how to maneuver the market during these uncertain times. The two macro powerhouses put their money where their mouth is by each announcing an actionable trade idea — but to hear that, you'll have to tune in! Referenced In The Show: https://www.bloomberg.com/news/features/2022-04-05/will-russia-s-war-in-ukraine-cause-wheat-shortages-raise-food-prices-more?cmpid=socialflow-facebook-business https://www.bloomberg.com/news/articles/2022-04-07/u-s-mortgage-rates-rise-for-fifth-week-with-30-year-at-4-72?cmpid%3D=socialflow-twitter-billionaires -- Follow Alfonso Peccatiello: @MacroAlf Follow Andreas Steno Larsen: @AndreasSteno Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Blockdaemon connects businesses to blockchains through 3 key services; staking & delegation, fully managed nodes, and the revolutionary Ubiquity API suite. Blockdaemon has mastered nodes; managing 36k+ of them for major exchanges, financial companies & custodians. With 100% Slashing insurance, you can trust Blockdaemon to connect your business to blockchains. More info at https://onthemargin.link/blockdaemon -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter -- Timestamps: (00:00)・The Macro Trading Floor (03:07)・Macro Outlook (06:00)・Stock Market Outlook (09:05)・The Housing Market (11:29)・Alpha vs Beta Market (14:21)・Blockdaemon Ad (15:31)・Andreas' Trade Idea (20:26)・Alf's Trade Idea (27:03)・Final Thoughts

Luke Gromen, Founder and CEO at Forrest for the Trees LLC, joins us for this episode of On the Margin to discuss his view of the monetary system. We cover the bubble in sovereign debt, how the petrodollar system was established, the fracturing relationship between the US and China, and finally the role Bitcoin and gold may play in the future. ---- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This is part 2/2 of our conversation with Lyn Alden & Luke Gromen. In this episode we deep dive into the path forward for inflation, the U.S Dollar, bonds & what is fueling the gold & Bitcoin bull market. Enjoy! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Lyn: https://twitter.com/LynAldenContact Follow Luke: https://twitter.com/LukeGromen Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- (00:00) Inflation (04:42) Oil & It's Impact On Inflation (11:41) The U.S Dollar (13:04) Mantra Ad (14:09) Gold & Bitcoin (24:28) The Bond Market (33:25) Permissionless Ad (34:03) Inflation vs Recession -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this round up, Tyler, Mike and Casey cover Larry Fink's call for sustained inflation, June's 5.4% CPI print, Powell's speech, the relationship between the Fed and Treasury, bank earnings, and finally where the crypto market is. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

On today's episode of On The Margin, Mike Ippolito is joined by Blockdaemon CEO & Founder Konstantin Richter to discuss the rise & fall of crypto culture. When sentiment shifts in crypto markets, founders build conviction. Konstantin reminds us of previous cycles & shares why he has never been more optimistic on the future of crypto than right now. Mike & Konstantin also discuss the founding of Blockdaemon, the pro's & con's in centralization vs decentralization, the outlook for a multichain future & designing new governance systems in an increasingly digital world. Read The Rise & Fall of Crypto Culture: https://andrecronje.medium.com/the-rise-and-fall-of-crypto-culture-3d0e6fd3e0e9 -- Follow Konstantin Richter: @konstantin11 Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Blockdaemon connects businesses to blockchains through 3 key services; staking & delegation, fully managed nodes, and the revolutionary Ubiquity API suite. Blockdaemon has mastered nodes; managing 36k+ of them for major exchanges, financial companies & custodians. With 100% Slashing insurance, you can trust Blockdaemon to connect your business to blockchains. More info at https://onthemargin.link/blockdaemon -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter -- Timestamps: (00:00)・Introduction (01:46)・The Rise & Fall of Crypto Culture (09:07)・Are Institutions Failing Us? (15:21)・Proof-of-Work vs Proof-of-Stake (20:34)・Centralization vs Decentralization (29:27)・Blockdaemon Ad (30:37)・Blockdaemon (38:19)・A Multichain Future

This week in On the Margin, we have a special bonus episode for you. There's lots going on in markets and we thought if ever there were a time to speak to as many smart people as possible, it's now. In this week's episode we are joined by CoinShares Chairman Danny Masters and FTX's Jon Cheesman to give us a preview for the FOMC meeting on Wednesday. We also covered the increasing connection between macro and crypto, what constraints the Fed are operating under, and how different sectors of crypto will respond to increased tightening. -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On today's episode, Charles Edwards Founder of Capriole Investments, a Bitcoin & digital asset quant hedge fund joins the show for a discussion on the positive setup for Bitcoin heading into 2024. Charles walks us through the potential setup he sees for 2024 & beyond in the Bitcoin & crypto markets tracking a number of key indicators including on chain data, the Capriole macro index, Bitcoin's halving schedule, hash ribbons & the wave of liquidity Grayscale's win vs the SEC could introduce as investors await a full Bitcoin ETF approval. To hear all this & more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Use code MARGIN30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- (00:00) Introduction (00:37) The Three Factor Model (03:53) The Relationship Between Liquidity & Bitcoin (06:35) The Bitcoin Halving (11:23) Permissionless Plug (12:34) Grayscale vs The SEC (18:05) Bitcoin's 10-Year Trajectory (24:48) $COIN & $MSTR: Understanding Demand For Crypto (30:48) Capriole’s Macro Index -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

We apologise for any video/audio issues this episode! -- This episode Eric Balchunas & James Seyffart join the show to discuss the sudden Ethereum ETF approval shock that surprised markets this week. Enjoy! -- Follow Eric: https://x.com/EricBalchunas Follow James: https://x.com/JSeyff Follow Mike: https://x.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- (00:00) Introduction (01:12) The ETH Approval (08:55) Demand For An ETH ETF (14:02) Avalanche Ad (15:23) Mantra Ad (16:29) Will We See More ETFs? -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this week's episode, we kicked things off with an honest review of Solana's Breakpoint conference which I have been at for the past week. I had two big takeaways from the conference: 1. Solana is going to endure well beyond this market cycle 2. We are approaching a top in the current market cycle The folks at Solana absolutely hit it out of the park with this conference, and there were lots of great projects building on the ecosystem. In particular, I was most interested to hear from the developers building out financial primitives (banking interfaces, decentralized options, structured, projects, etc...). But there were plenty of signs of excess, which Mark and I get into in the episode. After the Solana recap, we got into the 6.2% October CPI print, and took a look at historical comparisons of the 1940s and 1970s. After that we moved onto signs of excess speculation in the market, with a particular focus on spot and option trading volumes. We also took a look at historical S&P earnings and valuation metrics, and finally ended with conflicting narratives on household debt. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your crypto. Combine a Ledger hardware wallet with the Ledger Live app to access all your favorite crypto services & DApps from one place. All that with the best security. Visit https://onthemargin.link/ledger and make your crypto journey easier and safer. -- Coinbase Prime: On The Margin is supported by Coinbase Prime, an integrated solution that provides advanced multi-venue trading, custody, and prime services for institutions. For more information go to https://onthemargin.link/coinbase --- On the Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like this, subscribe to Blockworks' free daily newsletter: https://blockworks.co/newsletter/

In this week's round up, Mark and I dug into the investor uncertainty caused by the Russia Ukraine conflict. Disclaimer: war is always first and foremost a humanitarian crisis. It goes without saying that our hearts go out to Ukraine and those involved in the conflict. Mark and I focused on the markets angle because we aren't geopolitical experts and that is where our expertise lies. The most important part of this story is, of course, the human side. We began with the response in US equities to the news of the invasion, including the Nasdaq's move higher. We also covered the behavior of Russian equities and debt markets. Other topics we went over include the inverted correlation between gold and Bitcoin, energy prices, investor sentiment, and historical analogs based on past war time. Finally, we concluded with a discussion around SWIFT and the potential deplatforming of Russia. For that take, you'll have to watch the episode. -- Follow Mark Yusko: @MarkYusko Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

In this episode of On The Margin Mike Ippolito is joined by returning guest & former Hedge Fund Manager Russell Clark of Russell Clark Investment Management. After spending over a decade as an Investment Manager, Russell joins On The Margin to discuss the period of change we find ourselves in. From trends in inflation to the evolution of market structure & reliance on clearing houses, Russell provides a big picture macro framework for thinking about markets, & the world more broadly. Russell shares his thoughts on the connection between real wages & food prices, what conflict in Ukraine means for food, energy & U.S treasuries as a global reserve asset, the unwinding of the 50 year petrodollar system, how a Russian debt default could increase market volatility, recent price action in commodities & so much more! -- Follow Russell Clark: @rampagingruss Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

In this episode of On The Margin Mike & Jack are joined by Harley Bassman otherwise known as 'The Convexity Maven'. Harley has spent over 35 years working at some of the largest firms including Merrill Lynch, Credit Suisse, PIMCO and now Simplify Asset Management. With an expert understanding of options, volatility & derivatives, we invited Harley for a masterclass on how investors can hedge in this market environment. Harley shares his insights into M2 money supply growth's effect on inflation, how demographics predict bond yields, what investors outlook should be for the traditional 60/40 portfolio, using the yield curve to predict recessions and so much more! -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your crypto. Combine a Ledger hardware wallet with the Ledger Live app to access all your favorite crypto services & DApps from one place. All that with the best security. Visit https://onthemargin.link/ledger and make your crypto journey easier and safer. -- OurCrowd: Join the fastest growing venture capital investment community, at https://www.ourcrowd.com/otm --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode of On The Margin Mike is joined by Mike Green of Simplify Asset Management & Alex Gladstein of the Human Rights Foundation. Mike & Alex sit down to debate the role of Bitcoin from opposing angles, discussing wether a Bitcoin standard benefit the U.S, what is the role of Bitcoin for those living under authoritarian regimes, government response to Bitcoin, the war on cash, CBDCs, Stablecoins & the role of sound money in society. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your crypto. Combine a Ledger hardware wallet with the Ledger Live app to access all your favorite crypto services & DApps from one place. All that with the best security. Visit https://onthemargin.link/ledger and make your crypto journey easier and safer. Coinbase Prime: On The Margin is supported by Coinbase Prime, an integrated solution that provides advanced multi-venue trading, custody, and prime services for institutions. For more information go to https://onthemargin.link/coinbase -- Meet with investors and financial industry leaders at the Digital Asset Summit in London, November 15 & 16. For a limited time, use code YOUTUBE for £75 off your tickets. https://blockworks.co/events/das-london/

On today's episode of On The Margin, Luke Gromen Founder & President of Forest for the Trees (FFTT) joins the show for a discussion on the end game for the Fed. After highlighting many of the structural shifts underpinning the current monetary system over the past few years, Luke lays out his thesis on the intersection between peak cheap energy and the U.S dollar system. Luke goes on to walk through how the Fed will be forced to manage these dynamics with inflation above trend and record high debt to GDP levels. To hear all this and more, you'll have to tune in! -- Follow Luke: https://twitter.com/LukeGromen Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Timestamps: (00:00) Introduction (01:15) Have We Reached Peak Cheap Energy? (07:58) Permissionless II Ad (08:46) Oil Is The Real Economic Discount Rate (13:06) Central Banks Have Stoped Buying U.S Treasurys (19:03) What's The End Game For The Fed? (27:38) Why The U.S Is Not Like Japan (32:12) Research Ad (33:02) Luke's Macro Outlook For 2023 (40:29) Approaching A "Debt Death Spiral" (42:44) Gold & Bitcoin -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Richard Byworth joins the show to discuss MicroStrategy’s convertible bond strategy, the biggest MicroStrategy misconceptions, and why he thinks the premium to NAV should expand over time. We also delve into MicroStrategy's concept of Bitcoin Yield, the risks and opportunities of Saylor’s strategy, and much more. Enjoy! — Follow Richard Byworth: https://x.com/RichardByworth Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ — Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Timestamps: (00:00) Introduction (01:50) Richard Byworth And Convertible Bonds (09:45) MicroStrategy’s Convertible Bond Strategy (15:28) Accretive Dilution & The Value Of A Convertible Bond (21:13) Breaking Down The Convertible Bond Trade (27:07) Ads (28:42) Risks & Opportunities In MicroStrategy’s Strategy (36:55) Bitcoin Yield & Bitcoin Per Share (38:28) Leveraged Upside And Downside (42:47) MicroStrategy Index Inclusion (44:06) Biggest MicroStrategy Misconceptions (49:09) Impact Of Levered MSTR ETFs (51:52) The Changing Market Paradigm — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode of On The Margin, Mike is joined by Bill Blain. Bill is a strategist, specializing in alternative assets at Shard Capital, the award winning investment and asset management firm based in London, UK. Bill is also an industry recognized financial journalist, writing the daily newsletter 'Blain's Morning Porridge'. In this episode, Mike and Bill discuss the recent labor shortage and its effect on inflation, troubles in the U.S housing market, wealth inequality & if cryptocurrencies are a solution in search of a problem. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

Follow Forward Guidance On Spotify: https://spoti.fi/3Y0oueY Follow Forward Guidance On Apple Podcasts: https://apple.co/3hXQu2F Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- Alfonso Peccatiello, founder of The Macro Compass, returns to Forward Guidance to discuss why there's no U.S. recession as of yet, how long is the lag of rate hikes' effect on the economy, and why bonds haven't performed well despite a rapid fall in inflation. Jack and Alfonso debate whether central banks print money, and Alfonso poses a spirited challenge to the predictive power of liquidity (bank reserves) on risk assets. Filmed on July 12, 2023. -- Follow Alfonso: https://twitter.com/MacroAlf Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow On The Margin on Twitter https://twitter.com/OnTheMarginPod Follow Blockworks on Twitter https://twitter.com/Blockworks_ The Macro Compass: https://t.co/zmbDLZ99iN -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos -- (00:00) Introduction (00:33) The Recession That Didn't Show Up (11:48) How Big Is The Tightening of Credit Availability? (20:33) Is Quantitive Easing (QE) "Money Printing"? Jack & Alf Debate (30:12) Money Printing Type #1: Fiscal Deficits (39:13) Money Printing Type #2: Bank Lending (47:20) Money Printing Type #3: Non-Bank Lending (50:37) Can "Liquidity" Explain Market Returns? Alf Says No! (01:02:01) Why Haven't Bonds Performed As Inflation Has Fallen? (01:07:51) When Recession? — Disclaimer: Nothing discussed on Forward Guidance or On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, we discuss are we at the beginning of a global rate cutting cycle as the ECB, BoC & SNB have all lowered interest rates. How will this impact markets in the second half of 2024? Enjoy! -- Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Tyler: https://twitter.com/Tyler_Neville_ Follow Mike: https://twitter.com/MikeIppolito_ -- Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of "On the Margin", Danielle DiMartino Booth CEO & Chief Strategist of Quill Intelligence joins the show for a discussion on the Fed and the policy decisions they face throughout 2022 & into 2023. Last time Danielle joined the show, it was January, at the beginning of the year, as it had become clear the Fed stayed too loose, for too long. In that conversation, we discussed what Fed rate hikes would mean for the economy, markets, inflation & housing. Now, nine months later, it felt right to invite Danielle back to the show to reflect on the past year from a former Fed insider, and look forward for the rest of the year as Powell tries to reiterate his hawkish stance to the markets. Will they finally get the message? Is this the end of the Fed put? To find out, you'll have to tune in! -- Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code MIKE250 to get $250 off tickets -- Follow Danielle DiMartino Booth: https://twitter.com/DiMartinoBooth Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC is one of the most trusted and widely used stablecoins in the digital asset industry. Check out their Transparency Hub at circle.com/transparency 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. -- (00:00) Introduction (02:56) The "Fed Put" (05:56) Jerome Powell's Paul Volcker Moment (07:31) What To Expect Ahead of the Next FOMC Meeting (09:22) Liz Truss's Energy Bailout Plan (11:32) Which Leading Indicators Should You Follow? (14:47) Housing IS The Business Cycle (20:30) Quiet Quitting & Work From Home (25:49) Circle Ad (27:09) What Is Happening in the Labor Market? (34:20) Looking Forward, What To Expect Throughout 2022? (39:43) The Need For A Modern Day G.I. Bill -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow Forward Guidance On Spotify: https://spoti.fi/3Y0oueY Follow Forward Guidance On Apple Podcasts: https://apple.co/3hXQu2F Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- With Mike & Mark out, Jack Farley of the Forward Guidance podcast joins Blockworks' very own newsletter writer Byron Gilliam for a wide raging discussion on the top stories of the week. With the recent Ripple vs SEC ruling, we discuss what impact this has for not only Ripple, but the crypto industry more broadly as many view this as a big win for the industry. We then dive deep into earnings with a number of companies reporting this week, and many more reporting next week. Will the big tech led bull run continue, or is this new bull market approaching a mania phase? To hear all this and more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Jack: https://twitter.com/JackFarley96 Follow Byron: https://twitter.com/bgilliam1982 Follow Blockworks: https://twitter.com/blockworks_ -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Use codePODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissio... -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

To view the charts discussed in today's episode, head over to our YouTube here: https://youtu.be/d04D0_WjqEg -- On today's episode of On The Margin, Jurrien Timmer Director of Global Macro at Fidelity joins the show for a discussion on the current "liquidity limbo" markets find themselves in. Bulls expect recessionary pressures to abide, rate hikes to turn into cuts and financial conditions to loosen whilst the bears foresee an earnings decline, more Fed tightening and a continued tightening of financial conditions. Jurrien walks through both the bull and bear case for markets, drawing on his recent research and enlightening chart deck which help provide visual aid to both sides of the argument. Who will be proven right in 2023: the bulls or the bears? To find out, you'll have to tune in! -- Follow Jurrien: https://twitter.com/TimmerFidelity Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Today's show is sponsored by Public.com: Get a 4.8% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to https://Public.com/onthemargin *26-week T-bill rate (as of 5/4/23) when held to maturity. Rate shown is gross of fees. **As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22). -- Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46mn1n3 Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On today's episode of On The Margin, Lyn Alden of Lyn Alden Investment Strategy joins the show for a discussion on the biggest driver of markets over the past 3 years... inflation. Early to the inflation call in 2020/2021, Lyn walks through both the cyclical vs structural outlook for inflation in 2023 & beyond. Lyn walks through the rise of fiscal dominance and attempts to answer the question will high interest rates fix high inflation? To hear all this & more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Lyn: https://twitter.com/LynAldenContact Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Referenced In The Show: Do High Interest Rates Fix High Inflation? https://www.lynalden.com/inflation-vs-interest-rates/ -- Timestamps: (00:00) Introduction (00:50) Inflation (06:18) The Rise Of Fiscal Dominance (13:14) Cyclical vs Secular Inflation (15:33) Permissionless II Ad (16:21) Inflation Today vs The 1940's (28:14) Research Ad (29:04) What Is The End Game? (36:55) Investing In This Environment (41:42) Housing & Real Estate (45:57) How Changing Technology Drove The Evolution Of Money -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

To bring us into the new year, Michael Ippolito & Jack Farley take viewers on an audio-visual guided tour of the most salient macro topics for 2022. They analyze a series of charts that illustrate the most important issues, such as factor rotation in equities, what banks are doing with all their money, and why the interest rate futures market (i.e. Eurodollar futures) has a different view on the future path of interest rates than the Federal Reserve’s own forecasts. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your crypto. Combine a Ledger hardware wallet with the Ledger Live app to access all your favorite crypto services & DApps from one place. All that with the best security. Visit https://onthemargin.link/ledger and make your crypto journey easier and safer. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week Mike & Mark discuss Grayscale's victory vs the SEC and what it means for the approval of a Bitcoin ETF. To hear all this & more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code MARGIN30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, Mark & Mike discuss the Fed rate hike decision of 75bp. As markets interpreted the announcement as dovish and a catalyst for a small rally in risk assets, Powell's press conference walked back any dovish bias investors had. Powell made clear to markets, they had no intention of slowing down their tightening "until the job is done". All eyes remain on the labor market as an indicator for when the Fed's tightening will begin to materialise. The unemployment data came out as this episode was recorded so Mike & Mark break it down in real time. But to hear that, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode I am joined by Mike Green of Simplify Asset Management for a discussion on the US China relationship. We covered the rise of China and its key strategic objectives, how the US faces challenges internally, rising inequality as a vector of attack, the relationship between capital and labor, and finally a path forward for the future. ---- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

This week we discuss the split odds between a 25 and 50 basis point cut at the Fed’s next meeting, market cutting cycle dynamics, and the rotation from growth to value. We also delve into the latest inflation data, rising labor productivity, and the outlook for crypto Enjoy! – Follow Ram: https://x.com/ramahluwalia Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin – Weekly Roundup Charts: https://drive.google.com/drive/u/0/folders/1XMVpZ672sX1qJV-admNYvznOPFXR737S – Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Learn more: https://www.mantrachain.io/ – Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii – Timestamps: (00:00) Introduction (02:22) Ram's Background (03:26) 25 Bps vs 50 Bps (08:42) Inflation Data (11:01) The Economy Is Okay (12:36) Fed Opening the Door to 50 Bps Cut (16:08) Parsing the Economic Data (18:12) Labor Productivity (20:27) Ads (21:44) Chinese Economy & Red Flags (28:08) US Equities (32:02) Growth Vs Value (34:31) Factor Market (36:34) Market Rotation (44:24) Permissionless Ad (45:02) Narratives Driving Markets (48:21) Digital Assets (54:49) Bitcoin & Crypto Price Action (59:05) Hot Money Rotation (01:00:37) Cutting Cycle Dynamics – Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, we discuss the latest in markets after the presidential debate between Biden & Trump. We deep dive into how markets would react to a Biden vs Trump win in November, the indicators suggesting the Fed will need to cut rates soon, crypto's setup into H2 2024 & Friday's PCE print. Enjoy! -- Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Tyler: https://twitter.com/Tyler_Neville_ Follow Mike: https://x.com/MikeIppolito_ On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin -- Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Alyssa Choo Crypto Equities Specialist at Bitwise joins the show for a deep dive into some of the recent crypto equities earnings results. We discuss Coinbase's blowout earnings beat, the state of Bitcoin miners & the bullish tailwinds as crypto markets continue climbing higher. To hear all this & more, you'll have to tune in! -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Alyssa: https://twitter.com/alyssachoo_ Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- (00:00) Introduction (00:30) Coinbase (06:27) Coinbase's Global Expansion (09:23) Perpetual Futures (13:04) Mantra Ad (14:24) Coinbase's Revenue Breakdown (22:56) Bitcoin ETFs (24:59) FASB Accounting (27:34) DAS London Plug (28:50) Bitcoin Miners -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

The CPI print just came out, and prices are hot. This week's roundup explores the implications of high inflation, what it means for company earnings and what to expect next. Has the Fed lost control? Is this the fault of current or prior regimes? Where are rates headed? Is QE coming back? Tune in to find out! -- Timestamps: (00:00) Introduction (00:36) Update, Bitcoin Is Still A Volatile Asset (09:46) CPI Print Hot Hot Hot (17:42) Entitlement & Earnings Trouble (23:17) More Rate Hikes? (30:54 The Fed’s Failure (52:47) Restarting QE (59:52) Exporting Inflation, Will It Continue? -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show: "The Committee To Save The World" http://content.time.com/time/covers/0,16641,19990215,00.html Bilderberg Group's Connection To Everything In The World https://bit.ly/3CYEoxP Rubicon (book) https://amzn.to/3fX8uIP -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of On The Margin, Mike Ippolito is joined by returning guest Eric Basmajian, founder of EPB Macro Research. After correctly identifying signs of decelerating growth months ahead of most, Eric comes back to the podcast to share how he forecast the economic slowdown. As the yield curve inverts, GDP numbers begin downward revisions and investors deal with soaring prices across the whole commodity complex. Eric lays out the major warning signs that can help identify cyclical changes in the economy. Referencing Edward E. Leamer's paper "Housing IS the Business Cycle,” Eric also gives listeners a crash course on the connection between housing and economic growth. To hear more, tune in! Read Housing IS The Business Cycle: https://www.nber.org/papers/w13428 -- Follow Eric Basmajian: @EPBResearch Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter Timestamps: (00:00)・Introduction (06:46)・The Economic Pyramid (13:24)・Housing IS the Business Cycle (29:05)・Fireblocks Ad (30:24)・Falling Corporate Profits (35:33)・Risk Assets (40:55)・Is Inflation Transitory, Or Not? (47:25)・Rising Populism (53:34)・How To Solve The Growth Problem

In this episode of On the Margin, I am joined by Teddy Vallee of Pervalle Global Capital to discuss his views on the various asset classes. We cover his views on the dollar, what a strong and weak dollar would mean for the economies, his framework for analyzing equities, his thoughts on volatility, and finally Bitcoin and crypto as an asset class. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

Jack Farley, host of Forward Guidance, welcomes George Goncalves and Joseph Wang to share their 2023 outlook on the Federal Reserve and inflation. Goncalves, Head of U.S. Macro Strategy at MUFG Securities, argues that inflation is slowing rapidly and the Federal Reserve is nearly done with raising interest rates. Joseph Wang, former senior trader for the New York Fed, contends that 2023 will be the year that “transitory will die” and that the Federal Reserve will tighten as far as it can as inflation stays high. Wang and Goncalves also discuss the housing market, quantitative tightening, yield curve inversions, and their outlook on risk assets. -- Follow George Goncalves on Twitter: https://twitter.com/bondstrategist Follow Joseph Wang on Twitter: https://twitter.com/FedGuy12 Follow Jack Farley on Twitter https://rb.gy/uesguv Follow Mike: https://twitter.com/MikeIppolito_ Follow Forward Guidance On Spotify: https://spoti.fi/3WDa6b5 Follow Forward Guidance On Apple Podcasts: https://apple.co/3hXQu2F Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Forward Guidance on Twitter https://rb.gy/cy0dki Follow Blockworks: https://twitter.com/blockworks_ -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/blockworks_on_... , you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

We couldn't be more thrilled in welcoming Pippa Malmgren to On The Margin who shares valuable insights on the effects of globalization, financialization, creative destruction, debt restructuring, the effects of innovation and crypto fits into her outlook. You are not going to want to miss this one! --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

Follow Lightspeed on YouTube: https://bit.ly/43o3Syk Follow Lightspeed on Apple: https://apple.co/3OhiXgV Follow Lightspeed on Spotify: https://spoti.fi/3OkF7PD -- This is a special episode of Lightspeed, Blockworks' newest podcast, where we interview Balaji Srinivasan and Akshay BD to discuss crypto networks, sovereignty and the practicality of decentralization. If you only tune in to one episode of Lightspeed, this is it. We discuss if crypto is a bet on tech or financial collapse, blockchain infrastructure ideologies, Balaji's Network State, how to build effective communities, the future of open source, combatting tribalism and more!  We're dropping this episode here as we think you'll want to add Lightspeed to your podcast lineup! -- Follow Balaji: https://twitter.com/balajis Follow Akshay: https://twitter.com/akshaybd Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Timestamps: (00:00) Introduction (03:01) Is Crypto a Bet on Tech or Financial Collapse? (08:04) Appchains vs Monolithic vs Modular Ideology  (13:07) Why Akshay Joined the Solana Community (15:54) Permissionless Promo (16:54) The Network State (31:21) Market Depth and the Overton Window (37:25) How to Build Effective Communities (43:43) Three Ways to Align People (50:11) How to Combat Tribalism (01:03:54) Crypto has PMF, Regulation is Holding it Back (01:14:57) Will Centralized Companies Embrace Open Source? (01:17:28) Advice for Startup Founders -- Resources Jito jito.network The Network State https://thenetworkstate.com/ The Network State (Balaji, Estonia 2015) https://teleport.org/blog/2015/07/the-network-state/ Software is Reorganizing the World (Balaji, 2011) https://www.wired.com/2013/11/software-is-reorganizing-the-world-and-cloud-formations-could-lead-to-physical-nations/ The Secret Document That Transformed China https://www.npr.org/sections/money/2012/01/20/145360447/the-secret-document-that-transformed-china SuperTeam https://superteam.fun/ https://twitter.com/SuperteamDAO - -  Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed 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. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On today’s episode, Andy Constan Founder of Damped Spring & Co-Founder of 2 Gray Beards joins the show to disucss the recent QRA release from the U.S Treasury. As markets anticipated a higher amount of long end issuance, Andy turned bullish a few days ago when the numbers surprised to the downside & joins the show to explain exactly how he was able to catch this weeks risk on rally. To hear all this & more, you'll have to tune in! -- Follow Andy: https://twitter.com/dampedspring Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Timestamps: (00:00) Introduction (00:44) Why Andy Wen't Long Risk Asset's Post QRA Announcement (06:40) Bills vs Bonds Issuance (11:41) Should The U.S Have Termed Out Their Debt? (15:46) DAS London Promo (17:04) Financial Conditions Have Massively Eased (21:44) We're Back To Act I In The Inflation Cycle (24:25) Blockworks Research Ad (25:13) The Consequences Of This QRA Are Being Felt (32:50) The Path Towards Recession -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Mike & Mark give an update on the Bitcoin ETFs as Grayscale outflows continue to slow down, as Bitcoin approaches $50,000 & stock markets continue to reach new record highs. To hear all this & more, you'll have to tune in! -- Access liquidity on centralised exchanges through Copper’s off-exchange collateral management and settlement solution. To find out more about ClearLoop visit: https://bit.ly/3SnJI5r -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Mike & Mark discuss Tesla's disappointing earnings, the stock market rally as liquidity has resurged & the current state of the Bitcoin & crypto markets. To hear all this & more, you'll have to tune in! -- Access liquidity on centralised exchanges through Copper’s off-exchange collateral management and settlement solution. To find out more about ClearLoop visit: https://bit.ly/3SnJI5r -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Josh Solesbury joins the show to discuss the bitcoin mining landscape, the ongoing transition to AI/HPC, and the future of the industry. We also delve into industry bottlenecks, the risks of transitioning to AI, and much more. Enjoy! — Follow Josh Solesbury: https://x.com/joshsolesbury Follow Quinn: https://x.com/qthomp Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ — Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Timestamps: (00:00) Introduction (02:32) Josh's Background (03:52) Overview Of The Bitcoin Mining Landscape (10:44) Bitcoin Mining Cyclicality (12:55) Industry Consolidation (16:18) Differentiating Miners (22:39) Miner Transition To AI/HPC (36:44) Ads (38:53) Miner Transition To AI/HPC (Continued) (42:09) Chips & Bottlenecks (49:18) Why Don't Miners Abandon Bitcoin For AI? (59:18) CoreWeave & Core Scientific (01:04:30) Risks To Transition To AI/HPC (01:07:55) The Future Of The Mining Industry — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of "On the Margin", Jordi Alexander CIO of Selini Capital joins the show to discuss how inflation is driving demand for UBI. We begin discussing Jordi's outlook for the rest of 2022 with a major focus on the U.S Dollar and how the rising dollar could lead to liquidity problems. Drawing parallels to 2020, when the Fed extended U.S Dollar swap lines all around the world, Jordi explains how this dynamic could further exacerbate the publics demand for UBI.  We then close the discussion looking at the cycles of inflation, crypto markets and Jordi's outlook for markets through the rest of the year, but to hear that, you'll have to tune in! -- Follow Jordi Alexander: https://twitter.com/gametheorizing Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show:   Federal Reserve announces bilateral swap lines: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200319b.htm  Main Street Lending Program: https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm - - (00:00) Introduction (00:40) Jordi's Framework For 2022 (02:57) The U.S. Dollar (09:56) Wealth Distribution & Social Cohesion (12:20) Cycles of Inflation (27:52) The Bull & Bear Case for Bitcoin (36:20) Crypto Markets  (42:00) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week Mike & Mark discuss the inflation print which gave a further lift to equities over the week. Mark dives into the liquidity backdrop that is "driving markets" & what it means for the rest of 2023. To hear all this & more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- (00:00) Introduction (01:52) DAS London (07:58) Inflation (18:56) The Debt Problem (25:47) Blockworks Research (26:34) Bitcoin (48:12) When Will The Fed Cut Rates? (54:05) Artificial Intelligence -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Austin Campbell joins the show to discuss stablecoin regulation under the Trump administration, the impact of Trump's executive orders on the crypto ecosystem, and the case against a strategic bitcoin reserve. We also delve into the potential for a more cooperative regulatory environment, global adoption of stablecoins, and much more. Enjoy! — Follow Austin Campbell: https://x.com/CampbellJAustin Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ — Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Timestamps: 00:00 Introduction 00:35 Stablecoin Regulation Updates Post-Election 03:27 Congressional Bills and Bipartisan Efforts 06:29 Executive Orders and David Sacks’ Role 14:42 SEC vs. CFTC: Regulatory Shifts 19:24 Global Adoption and Future of Stablecoins 26:20 Debate on Strategic Bitcoin Reserve 35:52 Bitcoin's Role and Future Projections 40:58 Closing Thoughts — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of On The Margin, Jordi Visser a veteran money manager & currently President and CIO, Weiss Multi-Strategy Advisers joins the show for a discussion on the disruptive technologies changing the investing landscape in 2023. With the release of ChatGPT in 2022, a tidal wave of investment & excitement has resurged around the promise of A.I. In this episode, Jordi walks through the opportunities this technology can provide in 2023 & beyond. To hear how Jordi approaches investing in disruptive technology, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Jordi: https://twitter.com/jvisser_weiss Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Referenced In The Show: Disruptive technologies: Advances that will transform life, business, and the global economy: https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/McKinsey%20Digital/Our%20Insights/Disruptive%20technologies/MGI_Disruptive_technologies_Executive_summary_May2013.pdf -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Timestamps: (00:00) Introduction (00:52) Inflation, Technology & The Macro Cycle (02:21) We're Entering A Productivity Boom (05:18) Artificial Intelligence (09:08) Permissionless II Ad (09:56) Investing In Disruptive Technology (19:12) The Effect Of A.I's "Disruptive Innovation" (24:15) Crypto (31:00) Is Crypto A New Nation State? (35:52) Research Ad (36:41) Where Are We In The Market Cycle? (45:20) Recession Fears Are Overblown -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today's episode of "On the Margin", Michael Howell CEO of Crossborder Capital joins the show for a discussion on the number one force driving markets, liquidity. Discussing Michael's book titled "Capital Wars: The Rise of Global Liquidity", Howell walks through the role of global liquidity, increasing debt and volatility on today's financial system. Have these three factors made our financial system more susceptible to central bank intervention and financial crises?  Tune in to hear this discussion & much more! -- Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code MIKE250 to get $250 off tickets -- Follow Michael Howell https://twitter.com/crossbordercap Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show: WTO successfully concludes negotiations on China's entry https://www.wto.org/english/news_e/pres01_e/pr243_e.htm Transcript: US Treasury Secretary Janet Yellen on the next steps for Russia sanctions and ‘friend-shoring’ supply chains https://www.atlanticcouncil.org/news/transcripts/transcript-us-treasury-secretary-janet-yellen-on-the-next-steps-for-russia-sanctions-and-friend-shoring-supply-chains/   Suez Crisis https://www.history.com/topics/cold-war/suez-crisis  Russian gas in Germany: A complicated 50-year relationship https://www.dw.com/en/russian-gas-in-germany-a-complicated-50-year-relationship/a-61057166 -- (00:00) Introduction (00:25) The Rise of Global Liquidity (06:25) China Entering The WTO (12:28) How A Lack of Liquidity Leads To Financial Crises (19:20) Is Europe The Canary In The Coal Mine? (30:06) Bretton Woods, World Trade & The Role of The U.S Dollar (40:00) Capital Wars Between The U.S & China (44:53) Current Market Liquidity & Outlook -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this special crossover episode with Forward Guidance, Joseph Wang joins the show to discuss the latest Fed decision, its December economic projections, and what to expect from markets going into 2025. We also delve into why he expects way more than two rate cuts next year, why he’s bearish on US equities in 2025, and much more. Enjoy! __ Follow Joseph Wang: https://x.com/FedGuy12 Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ — Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Timestamps: (00:00) Introduction (02:26) Hawkish FOMC Conference (06:03) Immigration Impact (09:32) 2025 Surprises (12:16) Trump, Trade, & Tariffs (14:43) What Is The Fed Thinking? (20:07) Peak Hawkishness (21:41) Long-Term Rates (23:07) SEP As A Psychological Tool (25:16) Ads (26:41) Fed Surveys & Politics (28:29) The Neutral Rate (30:27) How The Fed Gauges Restrictiveness (32:11) Reverse Repo (37:52) Treasury Coupon Issuance (39:38) Equities & The Dollar (43:15) Gold & Crypto (45:07) Long Bonds, Commodities, & Inflation (49:42) Main Takeaways — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Jeff Park joins the show to discuss how the new Bitcoin ETF options will impact the market, what the options trading is already telling us, and whether a gamma squeeze is likely. We also delve into the arbitrage opportunities for retail traders, how to follow the new market landscape, and much more. Enjoy! — Follow Jeff Park: https://x.com/dgt10011 Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ — Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join. Start your journey today at polkadot.com/get-started Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Timestamps: (00:00) Introduction (01:50) Bitcoin ETF Options Expectations (06:14) Bitcoin's Volatility Skew (10:52) Bitcoin's Unique Supply Dynamics (14:22) Corporates Rewarded For Having Bitcoin (16:02) Biggest Options Trading Takeaways (27:30) Ads (29:20) Interview Continues (31:26) Implications On Dealers & Gamma (37:18) Impact Of Synthetic Bitcoin Through Derivatives (41:56) How Options Will Impact Market Structure (45:16) Following The New Options Landscape (48:52) The New Risk Model (52:35) Retail Opportunities — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Recorded November 30th This conversation is from a Twitter spaces with Erik Voorhees moments after SBF gave his interview with Andrew Ross Sorkin at the New York Times DealBook summit. Listen On Spotify: https://spoti.fi/3B4xe9H Listen On Apple: https://apple.co/3UsnTiM — Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Erik: https://twitter.com/ErikVoorhees Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week in Macro: The 10-year yield hit 1.75% this week after the Fed had their open markets committee. Then Morgan Stanley announced that their wealthy clients would have access to bitcoin funds, after it was rumored they would acquire a significant stake in Bithumb. Internationally, India proposed a ban on cryptocurrency which would effectively make it illegal to mine or trade. All this and more on this weeks roundup with Tyler Neville and Michael Ippolito from Blockworks. --- On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts. If you like this conversation be sure to subscribe to our newsletter at https://blockworks.co/newsletter

In this episode of On the Margin I am joined by my co-host Tyler to discuss the biggest macro trends he sees playing out today. We discussed his background in finance, the rise of passive, the changing role of volatility, the shift from capital to labor, and the rise of digital assets and the role they play in the growth story. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

This week Vincent Deluard returns to the show to discuss the most important topic in markets today... inflation. After joining the show in February 2023, Vincent was an early inflationista making the case that inflation would not return to 2%. Well, one year later that call has been correct as inflation remains elevated above the Fed's 2% target. The question is, what happens next? Enjoy! -- Follow Vincent: https://twitter.com/VincentDeluard Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- (00:00) Introduction (02:17) The Rise Of Secular Inflation (10:50) Mantra Ad (11:56) Geopolitical Risk, Oil & The Inflation Feedback Loop (16:43) The U.S Dollar Is Still The Best Safe Haven (21:21) The Rise Of Fiscal Dominance: Gradually, Then Suddenly (26:08) The Inflation Spiral (35:39) Permissionless Ad (36:17) A Recession Free Future (42:18) Oil -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode of On The Margin Mike is joined by Darius Dale. Darius is the founder and CEO of 42 Macro, an investment research firm aiming to democratize the access to institutional-grade research, allowing investors to take advantage of changing market narratives using data driven signals. In this episode, Darius shares his thoughts on how investors should prepare for a slowdown in global growth, a rise in secular inflation, navigating both financial volatility and political risk, the fourth turning and the future of the U.S dollar. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode, Andy Constan joins the show for a discussion on the current state of the U.S economy & inflation continues to roll over & financial conditions remain loose. We deep dive into the outlook for stocks, bonds & markets into H2 2024. Enjoy! -- Follow Andy: https://x.com/dampedspring Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Timestamps: (00:00) Introduction (00:27) Why The Economy Has Remained Strong (04:39) Financial Conditions Are Still Loose (11:32) Mantra Ad (12:39) Relief In The Long End Has Been Fueling A Stock Market Rally (23:01) What To Expect From The QRA? (29:24) Permissionless Ad (30:02) Alpha vs Beta -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii

On today's episode of On the Margin, David Rosenberg Founder and President of Rosenberg Research joins the show to answer the question: "Have we hit the bear market low?". We start with David's view that the market is still overpriced and the overwhelming odds of a recession in 2023. He explains why the yield curve is the most important variable, what to watch in the bond market and how a consumer default cycle will play out. We then finish the discussion on supply-side inflation, why David expects deflation is on the horizon and what to expect next! -- Follow David: https://twitter.com/EconguyRosie Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC is one of the most trusted and widely used stablecoins in the digital asset industry. Check out their Transparency Hub at circle.com/transparency which 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. -- Referenced In The Show: Rosenberg Research https://www.rosenbergresearch.com/ Manias, Panics, and Crashes: A History of Financial Crises https://www.amazon.com/Manias-Panics-Crashes-History-Financial/dp/1137525754 Devil Take the Hindmost: A History of Financial Speculation https://www.goodreads.com/en/book/show/91360.Devil_Take_the_Hindmost -- Timestamps: (00:00) Introduction (01:16) Have We Hit The Bear Market Low? (11:30) Will The Fed Break The Market? (21:10) What Does A Default Cycle Look Like? (29:26) When Will Reality Set In For Consumers? (37:26) Circle Ad (38:46) Has J Powell Over-Tightened? (44:54) Supply-Driven Inflation (52:54) Which Assets Get Bid First In A Recovery? (1:02:28) The US Outlook (1:05:39) People Don’t Learn From History -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this week's episode, we discuss the Fed's attempt to crush all consumer demand. Mark believes we've just entered crypto spring, but that enthusiasm takes a turn as we discuss the Fed. With two consecutive quarters of negative GDP growth, we can officially (or now unofficially) say we are in a recession. I got Mark's take on the Fed's actions, expected fallout and future CPI prints. Next, we discuss the US' "friend-shoring" efforts, failed sanctions and other policy mishaps. Finally, we added a new "positivity segment" that includes our thoughts on aliens and human evolution - you'll have to tune in to find out more! -- Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code MARGIN250 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/ -- -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark Yusko: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ - - Referenced in the show: Janet Yellen "friend-shoring" https://tinyurl.com/2aprdz3p -- Timestamps (00:00) Introduction (00:32) Mark confirms crypto spring is here (05:26) Blockworks' DAS 2022 conference (09:53) The Fed is crushing growth (18:52) Friend-shoring: ineffective sanctions and a multi-polar world (22:53) Is housing the next shoe to drop? (26:10) Changing the definition of a recession (28:42) Listen to the bond market (32:40) Fighting inflation & oil price manipulation (42:06) Money is a claim on time (49:27) Alexander Hamilton, maybe we need Maxis (51:26) Sinister Saturday special (54:37) Aliens, Webb telescope and human evolution -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On todays episode of On The Margin George Goncalves MUFG's Head Of Macro Strategy joins the show for a discussion on the outlook for H2 2023. Reflecting on the Fed's quest to fight inflation amidst their fastest hiking cycle in recent history, George outlines why the economy has remained resilient thus far, and how leading indicators are pointing to a further deceleration in the second half of 2023. To hear all this & more, you'll have to tune in! To view George's slide deck mentioned in the episode, head over to the Blockworks Macro YouTube channel: https://www.youtube.com/@BlockworksHQ — Follow George: https://twitter.com/bondstrategist Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 __ Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On todays episode,Chief Investment Officer at NewEdge Wealth Cameron Dawson joins the show for a discussion on the impact of higher interest rates. We discuss the economy's sensitivity to higher interest rates, Powell's shift to being a hawk vs his career as a dove & what we can learn from the most recent earnings season. To hear all this and more, you'll have to tune in! -- Follow Cameron: https://twitter.com/CameronDawson Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Use code MARGIN30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week David Cervantes joins the show for a discussion on the current setup for both the economy and markets heading into the second half of 2024. We discuss the recession outlook, will stocks continue to grind higher & how to make macro actionable. Enjoy! -- Follow David: https://x.com/EconstratPB Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Timestamps: (00:00) Introduction (01:00) The Fed's Already Got Their Soft Landing (08:14) The Economy Is Slowing (11:34) Mantra Ad (12:44) When Will The Fed Cut Rates? (17:15) How To Make Macro Actionable (29:15) Permissionless Ad (29:54) The U.S Fiscal Dilemma (32:18) Can Stocks Continue To Rally In 2024? -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this weekly round up Mike welcomes new co-host Mark Yusko of Morgan Creek to the mix. Mike and Mark discuss expensive equity market valuations, slack in the labor market, John Paulson's comments on crypto, Gary Gensler's comments on crypto, and FTX.US plans for world domination. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode, Mark and I are focused on answering one question: what is going on with markets? We kick things off with a quick summary of the equity and bond markets, both of which are having some of their worst starts to the year ever. In the case of the US 10 year, YTD performance through April is the worst it's been since 1778! Next we moved onto three unsustainable states of being in the market today: 1) equity valuations 2) debt to GDP and 3) wealth inequality. We discussed each of these topics at length, and outlined their connections to one another. Finally we ended on the transition away from capital to labor, but for that you'll have to tune into the show. -- Follow Mark Yusko: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Blockdaemon connects businesses to blockchains through 3 key services; staking & delegation, fully managed nodes, and the revolutionary Ubiquity API suite. Blockdaemon has mastered nodes; managing 36k+ of them for major exchanges, financial companies & custodians. With 100% Slashing insurance, you can trust Blockdaemon to connect your business to blockchains. More info at https://onthemargin.link/blockdaemon -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

This week we discuss another volatile week in markets with the continuing deleveraging that took place as on the back of a data heavy week. We discuss our takeaways from FOMC, QRA, economic data & the market reaction. Enjoy! -- On the Margin Survey: https://on-the-margin.beehiiv.com/forms/5c7fc920-a57a-496b-9708-1d137bd3014b -- Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Tyler: https://twitter.com/Tyler_Neville_ Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin -- Referenced In The Show: https://a16z.com/the-crypto-price-innovation-cycle/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Timestamps: (00:00) Introduction (02:28) QRA & FOMC Takeaways (16:07) Why Are Markets Unwinding? (23:51) The Yen Carry Trade Unwind (26:11) Permissionless Ad (26:50) What's Happening In Crypto? (31:13) Coinbase Earnings (35:39) Tether Earnings -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On today’s episode of “On the Margin” Sid Powell Co Founder of Maple Finance joins the show to discuss the recent credit contagion taking place in crypto.  With liquidity drying up in crypto & markets at large, deleveraging & liquidations have been taking place across the board. Sid joins the show to discuss the recent risk-off sentiment in markets and explains the differences between CeFi and DeFi lending. But to hear that, you'll have to tune in! -- Follow Sid: https://twitter.com/syrupsid Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/Blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show:  Voyager Digital Issues 3AC Notice of Default on Loan Around $665M: https://blockworks.co/voyager-digital... Archegos Capital Blowup: What Investors Need to Know: https://www.bloomberg.com/news/videos... -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- (00:00) Introduction (00:30) Credit In Crypto  (03:20) What Really Happened to 3AC? (06:45) CeFi vs DeFi Lending  (10:20) Do We Need A Lender Of Last Resort?  (22:10) The Consolidation Of Banking, An Opportunity For DeFi?  (25:20) A Roadmap For Crypto Lending  (29:00) Fireblocks Ad (30:18) A Roadmap For Crypto Lending  (36:25) On Chain Rating Agencies  (40:30) Building In A Bull vs Bear Market  (53:55) Sam Bankman-Fried Backstops Crypto -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Raoul Pal joins the show to discuss the new revolutionary economic regime, how AI is driving the economic singularity, and the younger generation’s changing perception of markets. We also delve into geopolitics, the banana zone, and much more. Enjoy! — Follow Raoul Pal: https://x.com/RaoulGMI Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/Blockworks_ Join Real Vision and learn more from Raoul here: http://realvision.com/join — Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs Improved User Experience to onboard non-native users and institutions to Web3 Learn more: https://www.mantrachain.io/ — Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Timestamps: (00:00) Introduction (01:19) Regime Shift (05:55) Labor Vs Debt (10:53) Setup For The New Conflict (14:19) Rethinking Business Cycles (16:42) No More Cowbell? (19:55) Scott Bessent (23:16) Geopolitics (29:27) Ads (30:43) Inflation Trend (34:15) Finding Treasury Buyers (36:42) Cynicism Vs Optimism (38:28) Macro-Crypto Intersection (45:46) Crypto's Addressable Market (49:52) Changing Perception Of Markets (54:53) The Banana Zone — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On today’s episode, Arthur Hayes CIO at Maelstrom Fund joins the show to explore his current macro framework and how that will impact crypto for the rest of the year & into 2024. We discuss the bursting of the sovereign debt bubble as bonds continue one of their largest sell-off's in U.S history, the dreaded bear steepener and it's impact on bank balance sheets, market liquidity & how crypto can act as a safe haven during periods of financial repression, deleveraging & inflation. To hear all this & more, you'll have to tune in! -- Follow Arthur: https://twitter.com/CryptoHayes Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Referenced In The Show: Oil: The Making of the Modern World: https://podcasts.apple.com/gb/podcast/167-oil-the-making-of-the-modern-world/id1537788786?i=1000555057140 -- Timestamps: (00:00) Introduction (00:38) The Debt Problem (05:43) The Dreaded Bear Steepener (10:56) Are U.S Banks In Trouble Again? (15:30) The Social Consequences Of Too Much Debt (20:19) DAS London Plug (21:36) Financial Repression (28:18) Trade Wars Are The Mirror Image Of Currency Wars (33:11) Blockworks Research (42:27) Bitcoin (43:15) The Crypto Bull Market (54:42) The Bitcoin Halving (56:05) Liquidity -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode of On the Margin, Mike and Tyler are joined by Blockworks reporter Casey Wagner to discuss a debate on inflation vs deflation, the future of crypto exchanges and banks, and the lack of lending coming from commercial banks. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- Blockworks' upcoming conference Bretton Woods: The Realignment, is a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system. Apply here to attend and learn more. https://blockworks.co/brettonwoods/margin --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this week's episode of on the Margin, we cover: ・The $453 billion that has flown into the Federal Reserve's reverse repo facility ・Why there is too much liquidity in the system, and what that means for bonds and quantitative easing ・China's crackdown on Bitcoin, and how the real problem might be rising commodity prices and inflation ・Core PCE rose higher than expected, and Tyler and Mike disagree on whether or not inflation is transitory ・Financial nihilism with the rise of meme stocks like AMC and GameStop We also detailed a first of its kind conference called Bretton Woods: The Realignment. The conference is dedicated to addressing the past, present and future of the monetary system. Held at the same hotel as the original conference, leading economists, asset managers and financial institutions will gather to discuss what the future of the money will look like. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts.

In this episode of On The Margin Mike Ippolito is joined by Leland Miller, CEO of China Beige Book International for a deep dive into the Chinese financial system. After founding China Beige Book over 12 years ago, Leland provides a data driven assessment of the Chinese economy exploring whether China's growth model is coming to an end. Leland also discusses China's financial deleveraging, the demographics of China's population, the reversal in globalization, tensions with the U.S, conflict between Russia & Ukraine & much more. -- Follow Leland Miller: @ChinaBeigeBook Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

In this episode I am joined by my colleagues and special guest hosts Jack Farley and Byron Gilliam. We went through a whole range of topics today, beginning with the bond market. We gave everyone an update on the rate hikes that the market is pricing in (spoiler alert: it's a lot), the historic rout happening at the long end of the curve, and how the Fed is likely to respond. We also discussed how to play a bond sell off, and the "risk vs reward" of investing in risk assets at the current time. We also covered the additional tail risk of Shanghai's recent COVID shutdown, and how that may exacerbate the current inflationary impulse. Next we went on to discuss Peter Thiel's recent comments at Bitcoin 2022, in which he decried the "gerontocracy" of Warren Buffett, Jamie Dimon and Larry Fink. He also said that Bitcoin could eventually grow larger than the global stock market, which is currently worth roughly $115 trillion. Next we moved on to the growth of Lightning Network, and the recent announcements that from both Strike and Robinhood. Finally we moved on to discuss Terra's $100 million purchase of AVAX, but for our takes there you will have to tune into the episode. -- Follow Jack Farley: @JackFarley96 Follow Byron Gilliam: @bgilliam1982 Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Blockdaemon connects businesses to blockchains through 3 key services; staking & delegation, fully managed nodes, and the revolutionary Ubiquity API suite. Blockdaemon has mastered nodes; managing 36k+ of them for major exchanges, financial companies & custodians. With 100% Slashing insurance, you can trust Blockdaemon to connect your business to blockchains. More info at https://onthemargin.link/blockdaemon -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter -- Referenced In The Show: Jim Bianco Thread On Bonds: https://twitter.com/biancoresearch/status/1512106368647536649 Timestamps: (00:00) Introduction (00:36) Permissionless (01:48) The Bond Market (06:20) The Stock Market  (12:10) Zoltan Pozsar Calls For Bretton Woods III (16:40) Risk/Reward In Risk Assets (20:20) Lockdowns In Shanghai (25:40) Peter Thiel Bitcoin Miami 2022 Speech (32:05) The Lightning Network  (40:35) Blockdaemon Ad (41:45) LFG Acquires $100 Million in Avax (57:18) Final Thoughts

In this episode of “On The Margin,” Mike Ippolito is joined by anonymous analyst Mr. Blonde. Taking a break from diamond heists and bank robberies, Mr. Blonde joins us to discuss whether Jerome Powell will be forced to pivot Fed rate hikes in 2022. Mr. Blonde also shares his outlook on growth for 2022 and chats about market returns during Fed tightening cycles. They discuss how the Russia-Ukraine conflict will affect markets and whether inflation is secular or transitory. -- Follow Mr. Blonde: @MrBlonde_macro Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Mike & Mark discuss the volatile week in markets as the long end of the U.S bond market began selling off on Wednesday. We discuss the potential catalysts including increased treasury issuance, the BoJ's yield curve control tweak & Fitch's downgrade from AAA to AA+. Finally we walk through the highly anticipated earnings from Apple & Amazon, which saw mixed results leading to a bout of short term volatility in markets to end the week. To hear all this & more, you'll have to tune in! — Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code MARGIN30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week Mike & Mark discuss wether the effect of rising interest rates have really been felt yet, this weeks CPI print and why we should prepare for deflation throughout 2023, not inflation. As inflation continues on it's downward trajectory, how will this impact the Fed's reaction function, the economy & markets? To hear all this and more, you'll have to tune in! __ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ __ Referenced In The Show: Sohn 2023 | Kiril Sokoloff in conversation with Stanley Druckenmiller: https://www.youtube.com/watch?v=bMAm2S1M_IU Where Are We In The Macro Cycle? | Bob Elliott & Cameron Dawson: https://www.youtube.com/watch?v=e4u5-GMkoiM&t=584s — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Darius Dale Founder of 42 Macro joins the show for a discussion on the current state of asset markets. With the recession that never came to be, stock markets hovering around all time highs & Fed rate cuts in 2024, Darius makes the case that markets are pricing in goldilocks & a 2024 soft landing. To hear all this & more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Darius: https://twitter.com/DariusDale42 Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Timestamps: (00:00) Introduction (00:39) Markets Are Pricing Goldilocks (06:29) The Recession That Never Came To Be (10:55) DAS London Plug (12:11) 2024 Elections & Janet Yellen's Liquidity Supportive Impulse (15:25) The Highest Probability Is A Soft Landing In 2024 (21:10) Inflation (27:06) Rate Cuts In 2024 (30:10) Blockworks Research Ad (30:58) Oil (33:21) What Is Happening In China? (39:56) Bitcoin -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Mike & Mark discuss the historic declines in the bond market with the long end sell-off continuing. We also discuss the blowout payrolls data, which under the surface may not be as hot as the headline suggests. To hear all this & more, you'll have to tune in! -- Digital Asset Summit 2024 | London: https://blockworks.co/event/digital-asset-summit-2024-london -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mark: https://twitter.com/MarkYusko Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/01:15 Renewed Bond Bear Market -- Timestamps: (00:00) Introduction (03:14) DAS London (06:11) Sell-Off In The Bond Market (11:24) Payrolls Come In Hot (18:54) The Global Wrecking Ball: Oil, U.S Dollar & U.S Yield's (24:36) Blockworks Research Ad (25:24) Beware Of FOMO (35:10) Diving Into The Payrolls Data (37:25) Are Equities About To Crack? (41:49) What Stops This Bond Market From Selling Off? (44:27) The BoJ Steps In To Curb Yen Losses -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Follow Forward Guidance On Spotify: https://spoti.fi/3poBcr6 Follow Forward Guidance On Apple Podcasts: https://apple.co/3hXQu2F Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX __ This week, as Mark continues his tour around Europe, Jack Farley host of the Forward Guidance podcast joins the show to discus the top stories of the week. As economic data & growth remains resilient, markets continue rallying despite negative sentiment coming into the year. We discuss whats in store for the second half of the year & whether the Fed will get their soft landing? — Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Jack: https://twitter.com/JackFarley96 Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ — Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ — Use code PODS20 to get 20% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 — Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Keone from Monad and Zon from Initia to discuss the spectrum between modular and integrated blockchain designs. They explore the tradeoffs in decentralization, performance and scalability between the two approaches. They explore AppChains, rollups, composability challenges in modular systems, EVM compatibility, and when to scale blockchains horizontally vs vertically. To close out Keone and Zon also share valuable insights on building Web3 communities organically. Thanks for tuning in! - - Subscribe on YouTube: https://www.youtube.com/@expansionpod Subscribe on Apple: http://apple.co/4bGKYYM Subscribe on Spotify: http://spoti.fi/3Vaubq1 Follow Zon: https://x.com/ItsAlwaysZonny Follow Keone: https://x.com/keoneHD Follow Rex: https://x.com/LogarithmicRex Follow nosleepjon: https://x.com/nosleepjon Follow Expansion: https://x.com/ExpansionPod_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (03:24) Modular vs Integrated (11:47) Who are Appchains for? (28:58) Composability in Modular World (36:15) Monad's Endgame (39:47) Importance of Decentralization (48:05) Building Web3 Community -- Disclaimer: Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion 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. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of the round up, Mike and Tyler discuss rising wages, home prices, the impact of Powell's suggestion to taper, the booming NFT market, and the layer 1 wars that are starting to heat up. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Download the Matrixport App now to earn 30% APY on USDC. Learn more at https://onthemargin.link/matrixport --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts. SHOW LESS

In this episode Mark and I covered two big topics: the fallout of Wednesday's FOMC meeting, and the announcement that the White House is cracking down on crypto as a matter of "national security." We kicked things off with one of my favorite charts of all time, the S&P going back to 1926 superimposed over every reason investors had to sell. Helps provide some perspective, you know? Next we covered what the market is pricing in in terms of rate hikes for 2022, and the likelihood that the Fed will follow through on their hawkish rhetoric. Next we moved on to real yields and gold's confusing response, the flattening yield curve, and the precipitous rise in the DXY. We also covered the precipitous drop in unprofitable tech, increased volatility in the stock market, and what both of these things tell us about where we're at in the business cycle. We also took a look at today's price action in the S&P and high yield credit market and how that compared to the 6 month period in 2018-2019 around the "Powell Pivot" (hint: there are similarities). Finally, Mark and I gave our thoughts on the impending crackdown that is rumored to be coming soon from the White House. For details on that, you'll have to listen to the episode. Follow Mark: @MarkYusko Follow Mike: @MikeIppolito_ Follow Blockworks: @Blockworks_ -- Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://onthemargin.link/fireblocks -- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter

In this week's episode, Mark and I cover this week's CPI print, the state of macro, Coinbase’s earnings miss, and a historical US ban on an Ethereum privacy protocol. We start with a discussion on the lower-than-expected CPI print, deglobalization and ask if the FED still thinks they can provide a soft landing.  We then dive into Coinbase’s Q2 earnings and $1B reported loss. Can Coinbase establish a sustainable business model? The numbers don’t look great, but there’s reason to believe they can turn the ship around. Finally, we discuss the US Treasury's Tornado Cash ban and the secondary effects across DeFi.  Tune in for these stories and more! --  Attend DAS, crypto and macro’s favorite institutional conference: http://digitalassetsummit.co/ - Use code MIKE250 to get $250 off tickets  Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- --  Follow On The Margin: https://twitter.com/OnTheMarginPod  Follow Mark Yusko: https://twitter.com/MarkYusko  Follow Mike: https://twitter.com/MikeIppolito_  Follow Blockworks: https://twitter.com/blockworks_ -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week Joseph Wang joins the show post FOMC to break down how markets are reacting to positive inflation data & Powell's press conference comments. As the U.S continues to run large fiscal deficits, Joseph outlines his thesis for why he expects stocks to continue crushing bonds in 2024 & why markets will actually crash up instead of down. Enjoy! -- Follow Joseph: https://x.com/FedGuy12 Follow Felix: https://x.com/fejau_inc Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Timestamps: (00:00) Introduction (01:14) FOMC Meeting Takeaways (10:30) The U.S Labour Market (12:56) Mantra Ad (14:05) Stocks Will Continue To Crush Bonds In 2024 (16:43) Rate Cuts Are Coming... And It's Bullish (19:51) Gold, Commodities & Bitcoin (23:45) Crypto's Wealth Effect (27:55) Is There A Bear Case For Equities? (30:14) Permissionless Ad (30:52) Monetary Plumbing & The QT Taper (34:32) Presidential Elections & Their Impact On Markets -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week we discuss the volatile week in markets with the deleveraging that took place as the Yen carry trade unwound. With markets quickly bouncing back, we discuss is it time to be bullish? We then deep dive into the launch of the ETH ETFs, the path forward for crypto & the inflation outlook. Enjoy! -- Follow Quinn: https://x.com/qthomp Follow Felix: https://twitter.com/fejau_inc Follow Tyler: https://twitter.com/Tyler_Neville_ Follow Mike: https://x.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod On The Margin Newsletter: https://blockworks.co/newsletter/onthemargin -- Referenced In The Show: https://a16z.com/the-crypto-price-innovation-cycle/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, Andy Constan Founder of Damped Spring joins the show for a discussion on what the Fed needs to do in their fight against inflation. As CPI prints continue to come in hot, financial conditions remain loose & markets melt-up, will the Fed be able to cut rates in 2024? To hear all this & more, you'll have to tune in! -- This episode is brought to you by Aura, the AI-powered digital security protection app that keeps your personal information, passwords, online activity, and tech safe from digital threats. It’s all-in-one protection from identity theft, financial fraud, malware, scams, and more. For a limited time, Aura is offering our listeners a 14-day FREE trial plus up to 55% off an Aura subscription. Visit https://aura.com/blockworks to sign up for your free trial. -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Follow Andy: https://twitter.com/dampedspring Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- (00:00) Introduction (01:49) Inflation (06:38) Why Are Financial Conditions Loose? (14:51) Aura Ad (16:09) Mantra Ad (17:15) The Script: The Only Way To Kill Inflation (20:48) Stock Market Melt-Up (30:10) Is The Banking System Healthy, Or Not? (36:32) Looking Ahead To FOMC -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week Bob Elliott joins the show post FOMC to discuss what is driving markets in 2024. We discuss why inflation remaisn too high, why the bond market needs to tighten financial conditions & what's driving the huge rally in Gold. Enjoy! -- Follow Bob: https://twitter.com/BobEUnlimited Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.