Bell Curve

Latest Episodes:

Institutional Adoption in Crypto: From Narrative to Reality | Roundup Mar 28, 2025

Show notes

In this episode, we dive into the institutional adoption of crypto, stablecoin innovation, the implications of the GENIUS Act, and recent market drama involving Hyperliquid. We also explore the tough state of venture capital, and M&A activity in crypto.

Thanks for tuning in!

Resources

Hyperliquid’s Resolution: https://x.com/HyperliquidX/status/1905319339991204263

Namada is the shielded asset hub rewarding you to protect the multichain. Enabling data protection for any existing asset, app, or chain, Namada introduces shielded cross-chain actions and rewards for shielding your assets, which strengthens data protection guarantees for everyone.

Namada is currently entering phase 3 of its mainnet launch — follow along on https://namada.net/

Marinade is the premier staking delegation platform on Solana, bringing billions in liquidity and security to the Solana network, and connecting SOL holders to the best staking rates.

Since launching in 2021, Marinade has expanded their suite of products to provide solutions for both DeFi users and TradFi, including liquid and native staking, as well as direct enterprise integrations.

To learn more about Marinade, follow the link below: https://marinade.finance/?utm_source=blockworks&utm_medium=partnerships&utm_campaign=podcast

Traders, AI enthusiasts, and degens—listen up! The game is changing, and DESK is leading the charge. Welcome to the next generation of perpetual trading—where cutting-edge technology meets AI-driven automation.

Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.

Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.

Whether you're an individual, fund, fintech, or institution, Morpho is for you.

Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9

Missed DAS? Join us from June 24th-June 26th at Permissionless IV! Use Code BELL10 at checkout for 10% off!

Tickets: https://blockworks.co/event/permissionless-iv

Follow Mike: https://twitter.com/MikeIppolito_

Follow Michael: https://twitter.com/im_manderson

Follow Vance: https://twitter.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(2:10) Takeaways From DAS NYC

(4:25) Getting Exposure to Stablecoin & RWA Growth

(12:03) Ads (Namada & Marinade)

(12:34) Institutional Stablecoin Announcements

(21:09) The GENIUS Act

(28:57) Ads (Namada & Marinade)

(30:11) Hyperliquid Drama

(46:34) Ads (Desk & Morpho)

(47:29) Private Equity Lobbying to be Included in 401ks

(52:11) M&A in Crypto and the State of Venture Capital

(1:10:01) Justin Sun on the Cover of Forbes

Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.

What’s Wrong with Crypto Custody & How to Fix It | Live From DAS Mar 27, 2025

Show notes

In this episode, Pascal Gauthier, CEO of Ledger, joins us live at DAS 2025 to discuss the future of institutional crypto custody, the tension between decentralization and regulation, and why privacy is the key issue for the next era of digital finance.

Thanks for tuning in!

Missed DAS? Join us from June 24th-June 26th at Permissionless IV! Use Code BELL10 at checkout for 10% off!

Tickets: https://blockworks.co/event/permissionless-iv

Follow Pascal: https://x.com/_pgauthier

Follow Mike: https://x.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(0:59) The History of Self Custody

(6:08) Separating Business Functions

(9:08) Crypto Regulation

(13:24) The Privacy Issue

(18:07) Crypto's Role in the Future of Privacy

The Foundation for Banking’s Next Evolution | Live From DAS Mar 26, 2025

Show notes

In this episode, we explore the evolution of blockchain and smart contract platforms over the past 15 years with Yves La Rose, CEO of the EOS Network Foundation. The discussion covers EOS's transformation into Volta, the rise of institutional capital in crypto, Bitcoin scaling solutions, and the competitive landscape among L1 blockchains. Yves also shares insights on regulatory positioning, transaction cost predictability, and why investors should hold L1 tokens.

Thanks for tuning in!

Missed DAS? Join us from June 24th-June 26th at Permissionless IV!

Tickets: https://blockworks.co/event/permissionless-iv

Follow Yves: https://x.com/BigBeardSamurai

Follow Mike: https://x.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(1:46) The L1 Landscape Over Time

(5:48) Evaluating the Competition Among L1s Today

(8:38) Onboarding Institutional Capital

(11:31) Rebranding EOS

(13:36) Differentiation Among L1s

(17:18) Why Hold L1 Tokens?

Headwinds to Tailwinds: The New Era for Institutional Crypto | Live From DAS Mar 25, 2025

Show notes

In this episode, we explore the transition from institutional resistance to adoption in crypto markets. David Mercer of LMAX Group discusses the convergence of TradFi and digital assets, the role of credit in unlocking institutional capital, and the need for clearer market structures.

Thanks for tuning in!

Aries Markets is the largest lending protocol on Aptos by TVL, and among the top 10 lending protocols across all blockchains! Since launch, Aries has expanded its product suite to become a fully integrated DeFi hub combining lending, borrowing, and more to its community of 738,000+ unique users.

To learn more about why Aries Markets deployed on Aptos, visit ariesmarkets.xyz

Ledger, the global leader in digital asset security, proudly sponsors Bell Curve! As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your assets. Buy a LEDGER™ device now, and build confidently, knowing your BTC, ETH, SOL, and more are safe.

Buy now on https://shop.ledger.com/?r=1da180a5de00.

Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.

Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.

Whether you're an individual, fund, fintech, or institution, Morpho is for you.

Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9

Missed DAS? Join us from June 24th-June 26th at Permissionless IV!

Tickets: https://blockworks.co/event/permissionless-iv

Follow David: https://x.com/mercerdavid

Follow Mike: https://x.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(1:24) Institutional Adoption of Crypto

(4:13) Crypto vs TradFi Market Structures

(8:22) Ads (Aptos & Ledger)

(8:54) Regulation's Impact on Crypto's Path

(12:01) Ads (Aptos & Ledger)

(13:07) Rebuilding Crypto Credit

(18:06) The Future of Crypto

(21:08) Ads (Desk & Morpho)

(22:03) Predictions on Institutional Adoption

Takeaways From DAS 2025 Mar 21, 2025

Show notes

Gm! This week Mike joins the Empire podcast to discuss our takeaways from DAS New York 2025. We deep dive into the growth of stablecoins & RWAs, what the institutions are focusing on, the future of crypto exchanges, who is best positioned going into 2025 & much more. Enjoy!

Follow Mike: https://x.com/MikeIppolito_

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Grab your tickets to Permissionless IV. For the developers and the builders: https://blockworks.co/event/permissionless-iv

Timestamps:

(0:00) Introduction

(2:13) The DAS Origin Story

(20:52) Stablecoins

(24:25) Tokenization & RWAs

(30:26) DePIN & Onchain Yield

(32:04) The Future Of Crypto Exchanges

(42:50) The Growth Of Stablecoins

(51:52) Crypto Regulation In 2025

(54:40) Final Thoughts From DAS

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Live From DAS: Where is the Stablecoin Market Headed? | Roundup Mar 21, 2025

Show notes

We’re coming to you live from DAS! This week's Roundup covers key trends in stablecoins, and RWAs. We discuss Sky’s billion-dollar allocation into tokenized T-bills, its aggressive buyback strategy, and the evolving stablecoin market. The conversation also touches on institutional vs. retail sentiment, the impact of stablecoin yield mechanisms, and the potential for onchain treasury auctions in the future.

Thanks for tuning in!

Missed DAS? Join us from June 24th-June 26th at Permissionless IV!

Tickets: https://blockworks.co/event/permissionless-iv

Marinade is the premier staking delegation platform on Solana, bringing billions in liquidity and security to the Solana network, and connecting SOL holders to the best staking rates.

To learn more about Marinade, follow the link below: https://marinade.finance/?utm_source=blockworks&utm_medium=partnerships&utm_campaign=podcast

Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.

Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.

Whether you're an individual, fund, fintech, or institution, Morpho is for you.

Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9

–

Follow Mike: https://twitter.com/MikeIppolito_

Follow Michael: https://twitter.com/im_manderson

Follow Vance: https://twitter.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(0:38) Impressions From DAS

(1:31) Sky's Buyback

(6:13) Marinade Ad

(6:28) New Forms of RWAs

(11:40) Marinade Ad

(12:20) Where is the Stablecoin Market Headed?

(18:09) Ads (Desk & Morpho)

(19:04) Divergence in Institutional and Retail Sentiment

Deep Dive: L1 Governance Today | Cooper Kunz, Jim Parillo, and Myles O’Neil Mar 18, 2025

Show notes

In this episode, we dive into L1 governance! We discuss the implications of SIMD-228, validator voting structures, and comparisons with Ethereum, Cosmos, and Bitcoin governance. We debate whether decentralization inherently leads to better decision-making, and analyze the role of foundations, token holders, and validators in shaping networks. Finally, we ask ourselves - why should anyone hold L1 tokens?

Thanks for tuning in!

Resources

0xResearch: What Does SIMD-228 Mean For Solana?: https://apple.co/43Ngi6T

Lightspeed: Why Solana Should Change Its Inflation Rate: https://apple.co/3FKFzVe

SIMD-228 Deep Dive: https://x.com/0xcarlosg/status/1899570952943387023

Namada is currently entering phase 3 of its mainnet launch — follow along on https://namada.net/

Buy now on https://shop.ledger.com/?r=1da180a5de00.

Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.

Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.

Whether you're an individual, fund, fintech, or institution, Morpho is for you.

Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9

Follow Cooper: https://x.com/cooper_kunz

Follow Jim: https://x.com/VelvetMilkman

Follow Myles: https://x.com/MylesOneil

Follow Mike: https://x.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx

Timestamps:

(0:00) Introduction

(1:57) L1 Governance Today

(14:14) Ads (Namada & Ledger)

(14:48) Governance Models and the Role of Foundations

(28:54) Ads (Namada & Ledger)

(30:04) What Governance Models Work?

(35:47) Was SIMD-228 Rushed?

(44:27) Ads (Desk & Morpho)

(45:22) Ossification in L1 Governance

(52:18) Bitcoin Governance

(57:30) Why Hold L1 Tokens?

Crypto’s Next Chapter: Who Thrives and Who Folds? | Roundup Mar 14, 2025

Show notes

In this episode, we cover Trump's tariff strategy, correlations between TradFi and DeFi yields, and stablecoin growth. We also discuss Binance's $2B investment from Abu Dhabi’s MGX, and the implications of Trump's Digital Asset Summit. Additionally, we explore the changing psychology of crypto cycles, the challenges of building in bear markets, and the importance of regulatory advocacy for DeFi.