0xResearch

Can Pearl become the Bitcoin of the AI era or is the story stronger than the token?

This week, we debate Pearl’s bull and bear cases, weighing its AI mining potential against the risks of becoming a store of value.

We also explore crypto custody after the massive Binance hack, token dilution, mining security, and the upgrade that could change Pearl’s economics. Enjoy!

TIMESTAMPS:

00:00 Binance's $6.3B Hack and HYPE's ICE Deal

04:51 Hot Wallet, Cold Wallet or ETF?

11...

Why would a DEX and a lender merge into one company?

This week, we're joined by Formation CEO Luke Truitt to unpack the Orca and Loopscale merger and why he now calls Orca a market structure company.

We explore why liquidity caps onchain credit, neo-clouds borrowing onchain, xORCA's fee cut, and the rise of prop AMMs on Solana. Enjoy!

TIMESTAMPS:

00:00 Luke Truitt, CEO of Formation

02:28 Why a DEX and a Lender Merged

05:30 ONYC vs ACred: Liquidity Caps Credit<...

Who really captures the value when real-world assets move onchain?

This week, we finish grading Citrini's tokenized-asset basket and argue where the weights are wrong.

We explore Uniswap's case for a bigger weight, Aerodrome's catalyst trade, Backpack's IPO-linked token, LayerZero's unlock overhang, and whether Ondo is priced too richly. Enjoy!

TIMESTAMPS:

00:00 Intro

00:32 Sentiment Check

03:37 Is Aerodrome Really A Bargain?

11:42 Should Uniswap Be A Top Holding?

21:02 LayerZero’s Adoption Vs Token Unlocks

27:47 Can Ch...

Is Citrini's crypto basket betting on the right themes but the wrong weights?

This week, the team grades the top half of Citrini's viral crypto basket, coin by coin.

We also explore DAS Singapore's consensus coin, Derive's valuation, the EtherFi vs Ethena fight, onchain lending competition, and whether Hyperliquid deserves the top spot in every crypto portfolio. Enjoy!

TIMESTAMPS:

00:00 Intro

00:27 Is This Just Bullish Consolidation?

05:17 Is Citrini Overweight Derive?

12:23 Lighter Or Hyperliquid?

17:24 Is Ether...

Ethereum's last real edge, its liquidity moat, is slowly eroding as new activity moves to Base, Robinhood Chain, and Solana.

This week, Carlos and Jake take opposite sides on where the marginal dollar is really going as activity spreads beyond Ethereum.

We explore the tokenized stocks race, whether Ethereum should charge L2s more, the odds the Bitcoin bottom is in, and why DATs may never reclaim their highs. Enjoy!

TIMESTAMPS:

00:00 Intro

00:30 Is Bitcoin’s Bottom In?

10:15 Are Cr...

Bitcoin no longer has a monopoly on crypto’s bull case.

This week, the team asks whether revenue-generating tokens, Zcash, and onchain collectibles can sustain value beyond Bitcoin.

We also dig into why lending markets and neobanks may benefit more from tokenized assets than spot trading venues. Enjoy!

TIMESTAMPS:

00:00 Intro

01:03 Can Alts Keep Outperforming Bitcoin?

05:01 SEC Clears The Way For Buybacks

11:58 Is Altseason Already Here?

17:02 Why Bitcoin Dominance Could Fall

23:41 How Many St...

Is reinsurance becoming DeFi’s most useful collateral?

This week, we're joined by Ryan Connor of RockawayX and Ayyan Rahman of OnRe as we examine how ONyc turns institution-only reinsurance into composable onchain yield.

We explore uncorrelated premiums, Kamino leverage, catastrophe risk, and why tokenization only matters when it adds real utility. Enjoy!

TIMESTAMPS:

00:00 Intro

04:15 How Does Onchain Reinsurance Work?

09:43 Why Is Reinsurance Yield Different?

14:38 Where Does The Yield Come From?

20:47 Turning Reinsurance Into De...

Is crypto’s latest cooldown a warning or the setup for its next leg higher?

This week, we examine where lasting strength is emerging as speculation fades across onchain markets.

We explore Robinhood Chain’s growing influence, Uniswap’s resurgence, composable leveraged products, and the uncertain case for stablecoin chains. Enjoy!

TIMESTAMPS:

00:00 Intro

01:57 Can Crypto Break The Holding Pattern?

04:54 Will The Clarity Act Pass?

08:51 Is Robinhood Chain Already Cooling?

11:58 Is The Meme-Equity Meta Here To Sta...

Is crypto’s bull market just getting started or already winding down?

This week, we unpack whether the ongoing onchain surge is sustainable and whether Robinhood Chain represents a lasting shift or just another speculative spike.

We explore Robinhood’s insane REV growth, stock-backed meme coins, Pump Fun’s competitive threat, and Zcash’s resurgence as a Bitcoin alternative. Enjoy!

TIMESTAMPS:

00:00 Sentiment Check

02:15 Robinhood Chain’s Revenue Explosion

08:56 Are These Fees Sustainable?

15:52 Will Memes Unlock Tokenized Stocks?

Crypto’s retail engine is turning back on, but can this new wave of onchain activity actually sustain itself?

This week, the crew breaks down why Robinhood Chain, the meme-tokenized equity meta, and social trading are emerging as major growth drivers for crypto.

We also dig into Uniswap’s surge, FOMO’s breakout potential, Ethena’s token reset, and whether crypto DATs can make a comeback. Enjoy!

TIMESTAMPS:

00:00 Sentiment Check

03:45 Why Robinhood Trenches Are Exploding

10:10 Does The Meme-Equity Meta Hav...

The crypto mood flipped almost overnight. What changed?

This week, Marc and Nick join to break down the catalysts behind crypto’s sharp sentiment reversal and whether they can sustain a broader recovery.

We explore Treasury intervention in the bond market, the SEC’s new crypto framework, President Trump name dropping Hyperliquid, and whether ICOs could replace airdrops. Enjoy!

TIMESTAMPS:

00:00 Intro

02:03 Is Treasury Controlling The Curve?

13:36 Crypto’s New Capital Formation Rules

24:48 Is CLARITY Still Needed?

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Crypto’s next breakthrough could come from fundamentally rethinking how companies are built, funded, and governed.

This week, we’re joined by Michael Rinko from Colosseum to explore how MetaDAO, Colosseum, and Solana are reshaping startup formation, governance, and distribution.

We discuss futarchy, internet capital markets, tokenized equities, AI-powered builders, and where consumer crypto goes next. Enjoy!

TIMESTAMPS:

00:00 Intro

02:42 How MetaDAO Won Early Conviction

06:45 Can Futarchy Replace Token Voting?

17:08 Who Should Raise On MetaDAO?

27:14 Why...

Is the next onchain bull market already taking shape?

This week, we unpack Pump’s resurgence and Fomo’s explosive growth as social trading brings users back onchain.

We debate Pump’s buybacks and token value, Fomo’s social moat, where crypto infrastructure captures value, and whether trading can become social media. Enjoy!

TIMESTAMPS:

00:00 Intro
00:46 Pump’s Bull Case
08:24 Are Pump’s Revenues Real?
13:33 Pump’s Buyback Debate
23:58 The Best Pump Pair Trade
31:19 Fomo’s Breakout Growth
39:12 Fomo’s...

Will Aerodrome become the definitive onchain spot exchange?

This week, we're joined by Dromos Labs CEO, Alexander Cutler, to unpack MetaDEX03, Aerodrome’s multi-chain expansion, and the model Alex believes can win across Ethereum and beyond.

We discuss MEV capture, tokenized RWAs and FX, LP economics, and why maximum value redistribution could be crypto’s strongest competitive moat. Enjoy!

TIMESTAMPS:

00:00 Intro

00:45 MetaDEX 3 Upgrade

06:22 Why Arc Is Different

12:49 Aerodrome Takes On Ethereum

21:11 The Case For Full...

Crypto's future belongs to the few protocols that create real value, while nearly every other token is destined to fail.

This week, the team explores why Hyperliquid keeps gaining momentum while most crypto tokens continue to disappoint, and what that says about the industry's future.

They discuss Hyperliquid's growing role in price discovery, the TradeXYZ controversy and its importance to the ecosystem, why altcoins keep failing, and whether crypto can fix its broken token market. Enjoy!

TIMESTAMPS:

00:00 Intro

00:34 The AI...

Crypto’s regulatory window is closing, but is the market already finding its floor?

This week, Ryan and Marc join Luke to weigh fading CLARITY Act odds and surprise upside trades against broader signs that crypto may be approaching its cyclical low.

They also unpack SEC scrutiny of DeFi vaults, Aave versus Morpho, Bitcoin’s multi-year bottom signal, and why Fake World Assets could revive onchain experimentation. Enjoy!

TIMESTAMPS:

00:00 Intro

02:46 Can The CLARITY Act Pass?

06:31 Trading A CLARITY Upsi...

Will crypto’s winners be the platforms that own users or the chains beneath them?

This week, we dig into Robinhood Chain data and why distribution could reshape where crypto’s value accrues.

We also discuss CLARITY odds and potential market impact, memecoins as retail onboarding, Base’s identity crisis, more Strategy sales, whether Bitcoin is finally bottoming & more. Enjoy!

TIMESTAMPS:

00:00 Intro

01:30 Will CLARITY Move Markets?

08:41 Robinhood Chain Finds Early Traction

12:19 Pons Winning The La...

Can crypto finally solve the disconnect between product success and token value?
This week, we explore why Venice AI's equity raise reignited the token-versus-equity debate, what it reveals about crypto capital formation, and why better disclosures may be the industry's next major unlock.
We also discuss Strategy's recovery, Robinhood Chain's launch, Venice's AI growth, MetaDAO's ownership model, and which tokens could benefit most from the next wave of onchain adoption. Enjoy!

TIMESTAMPS:

00:00 Intro

01:05 Bitcoin & Strategy Turning Bullish?

06:03 Venice AI’s Growth Engine

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In this episode, we discuss Strategy's updated capital framework, the launch of Open Standard's consortium-backed stablecoin, Robinhood's latest crypto product announcements, Hyperliquid's priority fee model and revenue potential, and the evolution of trading activity on Solana, including tokenized equities, meme coins, and broader market structure trends.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode we discuss Strategy’s financing approach and Bitcoin market dynamics, the rise of tokenized equities on Solana, evolving onchain market structure and trading infrastructure, competition among tokenized stock issuers, investment implications for related protocols, and indicators that could signal a potential Bitcoin cycle bottom.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, we discuss market reactions to new Federal Reserve Chair Kevin Warsh’s first policy meeting, Strategy’s STRC preferred shares trading below par and the company’s capital allocation options, Hyperliquid treasury and HYPE accumulation dynamics, SpaceX’s launch on Hyperliquid, competitive pressures within the HIP-3 deployer ecosystem, and the outlook for U.S. crypto regulation under the Clarity Act.
Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode we discuss SpaceX’s IPO and its potential effects on equity and crypto markets, including Bitcoin performance, ETF flows, valuation metrics, and mining trends. We also cover Ethena’s evolving yield strategy, reserve diversification, institutional lending, token value accrual, and the implications of its partnership with Coinbase.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this special episode, Blockworks announces its acquisition of Messari and unpacks what it means for crypto’s next phase. Michael and Jason explore why Messari’s breadth of data, APIs, and research complement Blockworks’ deep on-chain analytics, investor relations, and disclosure products. They also address crypto’s trust problem, the need for standardized data and disclosures, and how Blockworks aims to become the trusted data layer connecting issuers, investors, exchanges, regulators, and AI agents in on-chain markets.

Learn more: https://blockworks.com/insights/blockworks-acquires-messari

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In Boccaccio’s final episode, a rotating group of guests joined throughout the show to share their perspectives and send him off. We covered the recent cryptocurrency market downturn, Zcash’s sharp decline, Bitcoin ETF outflows, MicroStrategy’s strategy and tokenized products, DeFi lending dynamics, Hyperliquid-related flows, token transparency initiatives, blockchain adoption challenges, and investment views across lending, infrastructure, and exchange-related crypto assets. 

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinion...

In this episode, we discuss Bitcoin’s underperformance relative to equities and select crypto assets, the rise of Hyperliquid amid strong ETF and institutional flows, Morpho’s new fixed-rate lending initiative and valuation debate, evolving dynamics in DeFi lending markets, and Ethena’s shifting yield strategy, reserve allocation, and diversification efforts.
Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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 In this episode, we’re joined by Luke and Sam to discuss the evolution of crypto trading infrastructure, including Solana’s push to improve perpetual futures execution and compete with Hyperliquid. We also cover tokenized equities, onchain yield markets, Pendle’s role in DeFi incentives, and the growing adoption of tokenized Strategy-related assets.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, we’re joined by Martin de Rijke, Head of Growth at Maple Finance, to discuss Maple’s evolution from a lending protocol into an onchain asset manager focused on institutional yield products. We cover fintech adoption, stablecoin growth, DeFi infrastructure, institutional borrowing demand, modular yield strategies, securitization vehicles, and the convergence of crypto, fintech, and traditional finance.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advi...

In this episode we’re joined by Shaundadevens & Carlos to discuss market volatility, reported scrutiny of Hyperliquid, Coinbase’s partnership and revenue-sharing structure with Hyperliquid, stablecoin distribution dynamics involving USDC, prediction market activity, HIP-4 outcome markets, Cerebras related trading discussions, and broader analysis of Sky, USDS, Spark, and crypto revenue models.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, we’re joined by Sam MacPherson, Co-Founder and CEO of Phoenix Labs, to discuss Sky’s evolution from MakerDAO, Spark’s role as a prime agent SubDAO, and its approach to DeFi lending, liquidity management, and risk frameworks. We also cover governance restructuring, isolated lending markets, token buybacks, institutional liquidity products, fintech partnerships, and Spark’s long-term vision for prime brokerage and USDT growth.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are...

In this episode, we discuss shifting dynamics in crypto infrastructure, including Base moving away from Optimism, the evolving Layer 2 landscape, MegaETH’s business model, and Jito’s expansion into trading products with JTX. We also cover tokenized equities on Solana, frontend vs. backend monetization strategies, and Coinbase’s layoffs and earnings miss.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, we’re joined by Hersch and Aurelius from World Markets to break down their vision for a fully onchain exchange. We cover the Atlas risk engine, unified perp, spot, and lending markets, fixed-rate lending, MegaETH infrastructure, ADL limitations, market structure design, and what’s next for the platform.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, we’re joined by Ness, CEO and Co-founder of Hyperlend, to discuss building on Hyperliquid, the decision to adopt an Aave-based design, and how the protocol approaches interest rates and borrowing against L1 positions. We also cover liquid HLP, token launch and staking incentives, competitive positioning, tokenized equities, and Hyperlend’s roadmap, including institutional growth and private credit markets.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not...

In this episode, Shaundadevens outlines the thesis that 24/7 equity perpetuals will become a major theme. He explains why perpetuals outperform options for price exposure, evaluates market size and infrastructure requirements, highlights Hyperliquid and TradeXYZ, and examines silver and crude oil case studies demonstrating efficiency and weekend price discovery.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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This episode features two live panels recorded at EthCC, exploring the next phase of DeFi’s evolution—from institutional adoption to capital efficiency and yield generation.

Panel 1: Institutional DeFi: From Stablecoins to RWAs

Speakers discuss the rise of stablecoins, the growth of tokenized real-world assets (RWAs), and how institutions are entering onchain markets. Topics include tokenization frameworks, market structure challenges, transparency, and the role of DeFi in building a more global and accessible financial system.

Panel 2: Capital Efficiency & Yield in Modern DeFi

The second panel dive...

In this episode, we are joined by Aryan of CMT Digital to discuss tokenization progress, real-world asset risks, and infrastructure gaps in DeFi. We explore blockchain competition for financial markets, evolving revenue models, and AI agents in crypto. The conversation also covers Hyperliquid’s growth, institutional adoption trends, and the role of automation in research and investing.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, our DAS panel discusses the state of liquid token markets, including recent price declines, institutional adoption, and shifting sentiment. The conversation explores market structure, value accrual, token design, regulatory developments, and emerging sectors, while outlining potential catalysts for recovery and future growth in crypto markets.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this episode, Luke Leasure breaks down how DeFi’s onchain yield curve is constructed using Ethena and Pendle. He explores implied yields, term structure, and how curve signals connect to Bitcoin performance, shifting yield regimes, hedging demand, and broader crypto market risk.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In this special episode, we introduce Blockworks’ new investor relations platform for onchain businesses.

As institutional capital continues to enter crypto markets, expectations around transparency, standardization, and professionalism are rising. But instead of replicating legacy systems, Blockworks IR takes a different approach, leveraging real-time, onchain data to create a more transparent, data-driven, and low-friction investor relations model.

The platform combines curated analytics, branded investor portals, and white-glove advisory support into a single solution, helping teams tell a clearer, more credible story while giving investors a more efficient way to evaluate opportunities.

This week, Boccaccio, Danny, and Ian from Kairos Research discuss macro sentiment amid Middle East tensions, Hyperliquid's strong performance and oil trading volumes, the SEC and CFTC's crypto asset classification guidance, token unlock concerns for Pump.fun, the Solana Foundation's new tokens aggregator and its friction with Jupiter, and the broader debate around foundation-built products.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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In today's episode we discuss a major DeFi trading error involving a $50M Aave swap with extreme slippage, debate responsibility between users and front-end design, analyze Pump.fun’s potential multichain expansion and launchpad economics, and examine ACX’s plan to convert its token structure into equity to enable partnerships and possible acquisition.

Thanks for tuning in!

As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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