In this episode of The Signal, Hugo Finkelstein, Co-Founder of Rise, joins us to share insights into the evolving world of crypto payroll. Learn how Rise is helping businesses globally manage payroll for remote teams, bridging the gap between traditional payment systems and the modern need for flexible, onchain solutions. Hugo dives into the compliance challenges, the adoption of stablecoins in emerging markets, and the future of payroll innovations. Don't miss this deep dive into the...

In this episode, we're joined by Martin Carrica, Founder of Mountain Protocol, to dicuss the growing role of stablecoins in the global financial ecosystem, with a specific focus on how Mountain Protocol aims to provide a yield-bearing stablecoin solution. The episode starts with a general discussion on the importance of stablecoins, particularly in markets like Argentina, where inflation and unstable currency drive people toward U.S. dollar-denominated assets. Martin shares his personal...

In this episode, FP Lee from Sanctum joins us to discuss the potential of liquid staking in the Solana ecosystem. He explains the concept of liquid staking, the technical differences between Solana and Ethereum, and why liquid staking offers unique advantages.  The conversation covers the challenges and opportunities of building in the liquid staking space, including new use cases for liquid staking tokens (LSTs) beyond DeFi, such as crowdfunding and supporting creators. The episode also...

In this episode, we discuss a few of Michael's recent viral tweets. We briefly cover Robinhood's crypto strategy before moving on to key updates in the crypto market, explaining why we feel the current setup is bullish. We also debate whether Layer 2s should be included in Ethereum's ecosystem analysis. Additionally, we touch on the outcomes of crypto VC investments and the industry's narrative around governance tokens. We hope you enjoy the episode! Markets Update:...

In this episode, we dive into the impacts of recent political chaos in the U.S. and its effects on the financial markets. The discussion covers an update on the Bitcoin ETF,  including insights into the current buying activity, mining dynamics, and more. We also discuss the recent launch of Ethereum ETFs, and how we predict things will play out. The conversation also explores Ethereum's Q2 financials, the competitive landscape of L2s, and the future predictions for stablecoins and real-world...

In this episode of The Signal, we dive into Robinhood's strategic entry into the crypto space and compare it to Coinbase's established position. The discussion covers Robinhood's history with crypto, partnerships with Arbitrum and MetaMask, and the recent acquisition of Bitstamp. We also explore the potential for tokenized equities and discuss what strategic moves Robinhood could be planning to better capture crypto market share, including what launching their own Layer 2 blockchain could...

In this episode of The Signal, we're joined by Joe Flanagan, Co-Founder of Maple Finance. The discussion covers Maple Finance's innovative approach using smart contracts to streamline institutional debt issuance and enhance transparency in financial markets. Joe explains the process of originating and tokenizing debt onchain, providing insights into the borrowers and the underwriting process.  The conversation also introduces Syrup, Maple's new platform aimed at making institutional yields...

In Episode 9 of The Signal, we into into a market update, discuss our approach to due diligence and research in the crypto space, and provide a comprehensive analysis of Hivemapper, a decentralized physical infrastructure network on Solana. Join us as we explore the market's current state, the Federal Reserve's recent moves, and the implications for crypto. We also share detailed insights into Hivemapper's business model, token economics, and potential for growth. Tune in to gain a deeper...

In Episode 8 of The Signal, we dive into the financial performance, technical differences, and market narratives surrounding Bitcoin and Ethereum.  We discuss how Ethereum and Bitcoin should be evaluated as part of an investment portfolio, analyze their supply and demand dynamics, and look at token incentives and inflation rates. Additional topics include the growth of onchain user bases, market valuations, and security considerations. This episode provides a comprehensive, data-driven...

In episode 7 of The Signal, we discuss the evolving landscape of crypto regulation, marked by last week's approval of the first Ethereum ETF and significant policy movements in Congress. We're joined by George Leonardo from Cap Hill Crypto to gain insights into recent legislative activities and the implications of revamped regulatory frameworks on the industry. Key topics include the SEC's SAB121, the Financial Innovation and Technology for the 21st Century Act (FIT 21) the CBDC...

On Episode 6 of The Signal, Michael and Oskari are joined by a special guest, Daniel Batten, an expert in ClimateTech and ESG investing. Together, we dive deep into the intersection of Bitcoin, energy, and the environment. We discuss how Bitcoin can accelerate renewable energy adoption, mitigate methane emissions, and potentially become the world's first carbon-negative network. Daniel shares his insightful research, debunks common myths about Bitcoin's environmental impact, and explores the...

This episode of The Signal dives into the evolution of Coinbase, one of Wall Street's most misunderstood companies. Learn about Coinbase's transformation from a Bitcoin-only exchange to a key player in the web3 infrastructure space, with a multifaceted business model including trading, staking products, stablecoins, a layer 2 blockchains, and prime brokerage services. We analyze Coinbase's competitive positioning, operational efficiency, regulatory challenges, and the company's potential...

This episode provides an in-depth analysis of Circle and USDC, while also exploring the broader stablecoin landscape. The discussion highlights stablecoins as crypto’s killer use-case, Circle's transition from a Bitcoin wallet to a leading figure in the stablecoin space,  a data driven overview of USDC adoption, an overview of the competitive landscape, the regulatory environment, the anticipations around Circle's IPO, and the broader implications of stablecoins on the crypto ecosystem,...

In episode 3 of The Signal, Michael and Oskari take a deep dive into the onchain data landscape. They discuss various metrics and data points crucial for analyzing market cycles, comparing blockchain and dApps, and assessing the health and growth of crypto. They cover tools and platforms for accessing and interpreting onchain data, such as Token Terminal, Glassnode, Dune, and others.  ----- Timestamps and topics covered: 00:00 Intro 01:04 Market updates & ETF flows 10:09 Exploring...

In episode 2 of The Signal, Michael and Oskari discuss the current state of the liquid staking market on Solana. Resouces: 1. The Liquid Staking Set-Up on Solana (And an analysis of Marinade Finance): https://thedefireport.io/research/the-liquid-staking-set-up-on-solana 2. Solana Liquid Staking (Revisiting the thesis): https://thedefireport.io/research/solana-liquid-staking-revisiting Timestamps and topics covered: 00:00 Market update: Bitcoin halving and ETF flows 06:48 Solana's liquid...

In episode 1 of The Signal, Michael and Oskari share Ethereum's Q1 Earnings Results. We recommend downloading a copy of the Q1 issue of The Ethereum Investment Framework to go along with this episode. If you're interested, you can do so here: Topics covered: - Financial performance for the quarter (onchain profit) - Operating performance (user growth and other KPIs) - Growth of L2s (vs Ethereum L1) - Ethereum "GDP" - Market metrics - DeFi metrics (TVL, ETH staked, trading...

Crypto is in a bull market, which means we should expect to see plenty of incoming FUD (fear, uncertainty, doubt) hitting our news feeds and timelines. In episode 20 of The Rundown, Michael and Shiv break it all down, including the following: - What is FUD? - The primary sources of FUD - Where FUD *really* comes from - Most common types of FUD and how to debunk it If you’re new to crypto, the goal of this episode is to equip you with everything you need to seek the truth. P.S. the next...

In this week's episode of The Rundown, Michael and Shiv were joined by Chan Samadder, CFA and Head of Product at ETC-Group. Topics covered: - Chan's background in TradFi and his journey into crypto and digital assets - ETC-Group and the regulated crypto financial products they are bringing to market in Europe - Why Ethereum? How Chan thinks about ETH as an asset and how he speaks with investors about the Ethereum Network - How to monitor Ethereum's adoption rates - Ethereum's Token...

In episode 18 of The Rundown, Michael and Shiv dive into the following topics as Bitcoin shot through all-time highs: - Bitcoin ETF Inflow Update - Pattern matching ---- what can we learn about new TradFi entrants so far this cycle? - Why did Bloomberg downgrade the chances of an ETH ETF to 35% in May? - Michael Saylor and Microstrategy buying more BTC (with really cheap capital) - Is FUD season already here? - Going onchain with Artemis Terminal covering Sybil activity onchain We...

In this week's episode of The Rundown, Michael and Shiv share their approach toward building a Solana portfolio with an "aircraft carrier" approach. Additional topics covered: - The Bitcoin ETF inflows update - Onchain Data "cycle awareness" update using onchain data signal from Glassnode We hope you enjoy the episode! ---- Subscribe to The DeFi Report Newsletter: https://thedefireport.io/#newsletter Download a free copy of The Ethereum Investment Framework:...

Tom Dunleavy, CIO of MC Capital joined Michael and Shiv on episode 16 of The Rundown. Tom provides a unique, boots-on-the-ground perspective of the crypto capital markets and shares plenty of alpha on what to expect in the next crypto cycle. Topics covered: - Tom's background & MV Capital's investment strategy - How VCs impact crypto cycles - Types of projects being funded early in this cycle - Crypto funding mechanisms (airdrops, ICOs, valuations, etc) - Thesis for BTC, ETH,...

Are Stablecoins the new Euro Dollar? In episode 15 of The Rundown, Michael and Shiv go deep on Stablecoin data and how Tether is being used on Tron. Additional topics covered: - Bitcoin ETF inflow data - Similarities between the growth of stablecoins and the growth of the Euro Dollar market - Stablecoin usage on Ethereum (top stablecoins, users, transactions, etc) - Tether usage on Tron vs Ethereum - Types of Tether users and user cohorts - User preferences in different regions of...

In episode 14 of The Rundown, Michael shares his current thinking on ETH vs SOL. We also covered the Bitcoin ETF flow data, the prospects for an Ethereum spot ETF by May, and how to spot trends using onchain data. We hope you enjoy the episode! ---- Data-driven analysis of the web3 tech stack delivered to your inbox: https://thedefireport.io/#newsletter Download a free copy of The Ethereum Investment Framework:...

Why is the market so bullish on real-world assets moving onchain in 2024? In Episode 13 of The Rundown, Michael and Shiv explore the sector from a data-driven view while also raising (and answering) the following questions: How large are these markets? What are the benefits to tokenizing real-world assets? What role will large traditional finance firms play? What are the challenges? How long will it take to see widespread adoption? We also shared our thoughts on the recent spike in...