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    Business

    Empire

    Empire features interviews with top crypto founders to get the real stories that aren’t shared elsewhere. Empire is your look behind the curtain of the crypto industry. We release two episodes per week: guest interviews on Monday and a weekly roundup on Friday.

    Advertise

    Copyright: © Blockworks 2021

    • Apple Podcasts
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    • Spotify

    Latest Episodes:
    Inside Dragonfly’s $650M Raise | Weekly Roundup Feb 20, 2026
    Show notes

    This week, we're back with another weekly roundup where Rob walks us through Dragonfly's most recent $650M raise. We deep dive into the state of crypto VC, what allocators look for when deploying into crypto, whether tokens are investable in 2026, if Base will launch a token, and more. Enjoy.

    --

    Follow Rob: https://x.com/HadickM

    Follow Santi: https://x.com/santiagoroel

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

    --

    Join us at DAS (Digital Asset Summit) in New York City this March! Follow the link below to grab your ticket, and use code EMPIRE200 to get $200 off your ticket! https://blockworks.co/event/digital-asset-summit-nyc-2026

    --

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral.

    Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    --

    Timestamps:

    (00:00) Introduction

    (00:47) Inside Dragonfly’s $650M Raise

    (10:57) The State of Crypto VC

    (30:19) Coinbase Ad

    (31:03) DAS Plug

    (31:28) Are Tokens Investable?

    (40:54) Will Base Launch A Token?

    (45:23) Hyperliquid’s Policy Center

    (48:55) Content of The Week

    --

    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, Rob and our guests may hold positions in the companies, funds, or projects discussed.


    Hivemind: Surviving Market Chop, Is Crypto Bottoming & Reasons to Be Optimistic in 2026 Feb 19, 2026
    Show notes

    This week, the Hivemind team breaks down the current market chop as equities trade sideways and crypto tries to hold on after a huge downturn. We deep dive into whether we’ve finally bottomed, reasons to be optimistic, AI’s impact on markets, Aave’s value accrual, and more. Enjoy!

    --

    Follow Ceteris: ⁠https://x.com/ceterispar1bus⁠

    Follow Jason: ⁠https://x.com/3xliquidated⁠

    Follow Yan: https://x.com/YanLiberman

    Follow Flip: https://x.com/trevor_flipper

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


    Subscribe on YouTube: ⁠https://bit.ly/4jYEkBx⁠

    Subscribe on Apple: ⁠https://bit.ly/3ECSmJ3⁠

    Subscribe on Spotify: ⁠https://bit.ly/4hzy9lH⁠

    --

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

    --

    (00:00) Introduction

    (01:24) Market Outlook

    (18:54) AI’s Impact on Markets

    (27:18) Reasons To Be Optimistic In 2026

    (36:20) Aave’s Value Accrual

    (45:28) Base, Zora & Pair Trades

    --

    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, the Hivemind team, and our guests may hold positions in the companies, funds, or projects discussed.


    Quadrillions: The New Wall Street | Nick Shalek & Mathew McDermott Feb 18, 2026
    Show notes

    In the Quadrillions finale, we map the power shift from crypto building parallel markets to institutions integrating onchain rails into traditional finance. With Ribbit Capital’s Nick Shalek, and Goldman’s Mathew McDermott, we break down why the last wave of adoption stalled, why distribution beats ideology, and how networks like Canton are building from the inside out. This is the blueprint for “The New Wall Street.”

    --

    Follow Canton: https://x.com/CantonNetwork

    Follow Nick: https://x.com/nshalek

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

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

    --

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

    --

    Timestamps:

    (0:00) Introduction

    (1:37) Ribbit Capital's Tokenization Letter

    (4:22) FinTech Companies Moving Onchain & Institutional Adoption

    (15:01) Crypto at Goldman Sachs Today

    (17:53) What Held Crypto Back?

    (20:33) What Canton Brings to the Market

    (29:25) Crypto's Institutional Pitch

    (33:14) Permissioned and Permissionless Chains Are Symbiotic

    (39:23) Closing Comments

    --

    Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.


    Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.


    MegaETH in 2026 & Ethereum's L2 End Game | Brett DiNovi & Lei Yang Feb 16, 2026
    Show notes

    This week, Brett DiNovi and Lei Yang join the show to discuss the path forward for L2s. We deep dive into why we need L2s, MegaETH's 2026 roadmap, how to build a successful ecosystem, lessons learned from building MegaETH, and more. Enjoy!

    --

    Follow Brett: https://x.com/bread_

    Follow Lei: https://x.com/yangl1996

    Follow Santi: https://x.com/santiagoroel

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

    --

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral.

    Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    --

    Join us at DAS (Digital Asset Summit) in New York City this March! Follow the link below to grab your ticket, and use code EMPIRE200 to get $200 off your ticket!


    https://blockworks.co/event/digital-asset-summit-nyc-2026

    --

    Timestamps:

    (00:00) Introduction

    (01:57) Vitalik’s Post On L2s

    (05:30) Do We Need L2s?

    (11:52) What’s MegaETHs Moat?

    (29:00) Ethereum’s Security Value

    (33:53) Coinbase Ad

    (34:38) DAS plug

    (35:03) Value Accrual & What's Next For MegaETH?

    (51:49) How To Build An Ecosystem?

    (1:09:14) Lessons Learned From Building MegaETH

    --

    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, Rob and our guests may hold positions in the companies, funds, or projects discussed.


    The Clarity Act, State of Crypto VC & LayerZero Launches Zero | Weekly Roundup Feb 13, 2026
    Show notes

    This week, Rebecca Rettig joins the show to discuss the latest happening in Washington and what it means for crypto. We deep dive into the Clarity act, how to regulate prediction markets, who's crypto's enemy now, the state of crypto VC, LayerZero's Zero announcement and more. Enjoy!

    --

    Follow Rebecca: https://x.com/RebeccaRettig1

    Follow Rob: https://x.com/HadickM

    Follow Santi: https://x.com/santiagoroel

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

    --

    Referenced In The Show: https://open.spotify.com/episode/67w8irQ06j6ZH38FsXSShf?si=5633bb7bb6a248b9&nd=1&dlsi=d7d519562e884e70

    --

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral.

    Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    --

    Timestsamps:

    (00:00) Introduction

    (01:57) The State of Crypto Policy In DC

    (27:24) Coinbase Ad

    (28:08) Das Plug

    (28:34) Prediction Markets

    (36:50) Who’s Crypto’s Enemy Now?

    (52:35) The State of Crypto VC

    (01:01:15) LayerZero’s Zero Announcement

    (01:13:01) Content of The Week

    --

    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, Rob and our guests may hold positions in the companies, funds, or projects discussed.


    How Rain Grew To A $2B Company | Charles Yoo-Naut Feb 09, 2026
    Show notes

    This week, Charles Yoo-Naut joins the show to unpack Rain's explosive growth and what's next for crypto payments. We deep dive into the Rain origin story, their recent $250M fundraise, partnering with Visa, who wins the crypto card race, how Rain grew to a $2B company, and more. Enjoy!

    --

    Follow Charles: https://x.com/cnaut

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

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

    --

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral.

    Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    --

    "Mantle Global Hackathon 2025 is live! Running from Oct 22 to Dec 31, Mantle invites builders to design the future of Real-World Assets (RWAs) on its modular L2 stack.

    Key Highlights:

    - $150,000 Prize Pool + Grants & Incubation opportunities


    - Access to Bybit's 7M+ verified users


    - Judges from Bybit Ventures, Spartan, Animoca Brands


    - 6 Tracks: RWA/RealFi, DeFi, AI, ZK, Infra, GameFi

    Join the Hackathon: https://www.hackquest.io/vi/hackathons/Mantle-Global-Hackathon-2025"

    --

    This Empire episode is brought to you by VanEck.

    Learn more about the VanEck Onchain Economy ETF (NODE): http://vaneck.com/EmpireNODE


    An investment in the Fund involves a substantial risk and is not suitable for all investors. It is possible to lose your entire principal investment. The Fund may invest nearly all of its net assets in either Digital Transformation Companies and/or Digital Asset Instruments. The Fund does not invest in digital assets or commodities directly.


    Digital asset instruments may be subject to risks associated with investing in digital asset exchange-traded products (“ETPs”), which include the historical extreme volatility of the digital asset and cryptocurrency market, as well as less regulation and thus fewer investor protections, as these ETPs are not investment companies registered under the Investment Company Act of 1940 (“1940 Act”) or commodity pools for the purposes of

    the Commodity Exchange Act (“CEA”).


    Investing involves substantial risk and high volatility, including possible loss of principal. Visit vaneck.com to read and consider the prospectus, containing the investment objective, risks, and fees of the fund, carefully before investing.


    © Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.

    --

    Uniswap’s Trading API offers plug-and-play access to deep onchain and off-chain liquidity, delivering enterprise-grade crypto trading without the complexity - from one of the most trusted teams in DeFi.


    Click to get started with seamless, scalable access to Uniswap’s powerful onchain trading infrastructure. https://hub.uniswap.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=ww_web_bw_awa_trading-api_20251117_podcast_clicks

    --

    Timestamps:

    (00:00) Introduction

    (00:52) The Rain Origin Story

    (15:23) Partnering With Visa

    (30:05) The Opportunity In Emerging Markets

    (36:48) Ads (Coinbase, Mantle, VanEck, Uniswap)

    (40:16) The Crypto Card Race, Agentic Payments & Onchain Credit

    (48:00) What Chains Does Rain Work With?

    (53:28) Rain’s Journey To Raising $250m

    (01:03:00) How Rain Grew To A $2B Company

    --

    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, Rob and our guests may hold positions in the companies, funds, or projects discussed.


    Why Is Crypto Crashing? | Weekly Roundup Feb 06, 2026
    Show notes

    This week, Josh Lim from FalconX joins the show to discuss the recent market sell-off. We deep dive into Josh's outlook for 2026, who is crypto's marginal buyer, the Ethereum L2 roadmap, Kyle Samani's announcement of leaving Multicoin and more. Enjoy!

    --

    Follow Josh: https://x.com/joshua_j_lim

    Follow Rob: https://x.com/HadickM

    Follow Santi: https://x.com/santiagoroel

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

    --

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral.


    Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    --

    (00:00) Introduction

    (03:41) State of the Market

    (08:48) Josh's Outlook For 2026

    (18:45) The SaaS-Pocalypse & Crypto's Marginal Buyer

    (26:12) Coinbase Ad

    (26:58) The Crypto to AI Rotation

    (37:24) The Ethereum L2 Roadmap

    (47:27) Kyle Samani Leaves Multicoin

    (01:01:45) Why Is Josh Still In Crypto?

    (01:03:57) Content of The Week

    --

    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, Rob and our guests may hold positions in the companies, funds, or projects discussed.


    Hivemind: Are L1s Still Overvalued, Hyperliquid’s End Game & State of The Market Feb 05, 2026
    Show notes

    This week, the Hivemind team breaks down the continued sell-off in markets, from crypto to software. We deep-dive into the historical L1 premium, the endgame for Hyperliquid, Bitcoin's quantum threat, Vitalik's post on L2s, and more. Enjoy!

    --

    Follow Ceteris: ⁠https://x.com/ceterispar1bus⁠

    Follow Jason: ⁠https://x.com/3xliquidated⁠

    Follow Yan: https://x.com/YanLiberman

    Follow LTR: https://x.com/maybeltr

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


    Subscribe on YouTube: ⁠https://bit.ly/4jYEkBx⁠

    Subscribe on Apple: ⁠https://bit.ly/3ECSmJ3⁠

    Subscribe on Spotify: ⁠https://bit.ly/4hzy9lH⁠

    --

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

    --

    (00:00) Introduction

    (00:48) State of The Market

    (13:15) Are L1s Still Overvalued?

    (22:50) The Hyperliquid End Game

    (31:38) Bitcoin’s Quantum Threat

    (36:42) Ethereum’s L2 Roadmap

    --

    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, the Hivemind team, and our guests may hold positions in the companies, funds, or projects discussed.


    Quadrillions: Stablecoins: We’ve Only Just Begun | Mohamed Afifi Feb 04, 2026
    Show notes

    In this episode, we break down the state of stablecoins and why they’ve been able to bridge the gap into TradFi’s mainstream. Who’s adopting stablecoins and why? How are stablecoins changing the financial and legislative landscape? And what does this mean for the future of the larger crypto landscape?

    --

    Follow Canton: https://x.com/CantonNetwork

    Follow Mo: https://x.com/Mo_Bps

    Follow Eric: https://x.com/wesarn_real

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

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

    --

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

    --

    Timestamps:

    (0:00) Introduction

    (1:56) The Evolution of Stablecoins

    (8:43) The Stablecoin Stack

    (11:16) Who is Building on HIFI?

    (12:57) Cross-border Payments

    (15:55) Stablecoin Market Share

    (22:49) Canton's Stablecoin Strategy

    (26:09) The Stablecoin Landscape

    (28:33) The Importance of Privacy

    (31:58) Stablecoin Fragmentation

    (35:05) Agentic Payments

    (36:52) General Purpose vs Specialized Chains

    (41:29) What is the Industry Missing?

    (45:06) Closing Comments

    --

    Disclaimer: “Quadrillions” is a mini-series produced by Blockworks, and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It’s for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks.


    Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network.


    Why BitGo Went Public | Mike Belshe Feb 02, 2026
    Show notes

    This week, we’re joined by CEO and Co-founder of BitGo, Mike Belshe, to discuss BitGo’s IPO, their motivations for going public, and the IPO process. We dive into allocation decisions, key product growth areas, and views on regulation, crypto market structure, and future industry evolution. Enjoy!

    –

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

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

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

    –

    Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral. Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:

    https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire

    –

    Timestamps:

    (01:50) BitGos IPO & Early Supporters

    (07:22) Why go public

    (09:45) The IPO Process

    (30:39) Determining Allocations

    (37:49) Ads (Coinbase)

    (38:41) BitGos Role as an infrastructure company

    (46:15) BitGo's Fastest Growing Products

    (58:20) BitGo going forward

    (01:02:37) Web2 vs web3

    (01:06:41) BitGo's Journey & Lessons Learned

    (01:14:39) Replacing the Incumbents

    —--

    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.



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