Markets Outlook

Latest Episodes:

Zcash Sealed $1.7B – Here's Everything You Need to Know | Markets Outlook Jul 30, 2026

Show notes

Zcash activated its Ironwood upgrade, sealing roughly $1.7 billion in ZEC behind a one-way turnstile after a researcher found a flaw that could have minted counterfeit coins. Here’s everything you need to know. Plus, on Brand New Rails: POSCO International puts its trade receivables on-chain with LG CNS on Injective. CoinDesk's Jennifer Sanasie hosts Markets Outlook.

00:00 Welcome to Markets Outlook

00:55 Zcash Activates Ironwood, Seals $1.7B Orchard Pool

01:18 The Four-Year Orchard Counterfeit Bug

02:15 How the Turnstile Locks Out Counterfeit Coins

02:32 Quantum Recovery and Verification

03:05 The Voluntary Migration to Ironwood

03:53 Who Is Zcash For? Tushar Jain Weighs In on The Rollup

04:32 Why Ironwood Matters Beyond Zcash

06:19 Brand New Rails: Tokenizing Global Trade

06:38 POSCO Puts Trade Receivables On-Chain with Injective

07:03 What is a Trade Receivable?

07:24 Injective CEO Eric Chen on Faster Settlement

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.

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JPEG Trading is a global proprietary trading firm specializing in cryptocurrency and decentralized finance markets. From market structure and liquidity provision to quantitative trading strategies, JPEG Trading operates across the full spectrum of blockchain-based assets. Follow @jpegtrading on X to stay ahead of the latest developments in digital asset markets: https://x.com/jpegtrading

This episode was hosted by Jennifer Sanasie.

Charles Hoskinson on Cardano's Future, Ethereum's Mistakes, and Crypto's Missing Safety Net | Markets Outlook Jul 23, 2026

Show notes

Wanchain bridge hack, why Ethereum keeps getting it wrong, and Cardano's outlook with Charles Hoskinson.

After a bridge hack rattled the Cardano ecosystem, Charles Hoskinson, CEO and Founder of Input Output, joins Jennifer Sanasie on Markets Outlook to lay out why crypto desperately needs wallet insurance, ZK-powered identity, and white hat rescue frameworks. Plus, what Cardano's latest hard fork really means for decentralized governance, why he thinks Ethereum keeps getting it wrong, and what it will actually take for prices to recover. Plus, we look at the DTCC taking tokenized securities live in today’s Brand New Rails segment.

Timecodes:

00:00 - Charles Hoskinson Joins Markets Outlook

01:25 - Wanchain Bridge Hack and What It Revealed

02:21 - Why Midnight Was Built for This Moment

03:44 - Why Crypto Needs Wallet and Bridge Insurance

05:28 - How ZK Identity Unlocks Recovery and White Hat Rescues

09:46 - The "Unsexy" Unlock: Why Insurance Could Onboard the Masses

13:17 - Cardano's Hard Fork to v11 and What It Means

14:42 - Cardano's Decentralized Governance in Action

17:35 - Executive Function: The Last Governance Milestone

20:08 - Brand New Rails: What’s Next After the DTCC Moved Tokenized Securities Into Live Production

22:07 - Cardano's Outlook: Narrative Reset, Bitcoin DeFi, and the Partner Chain Model

26:05 - The Anthropic Analogy: Why Doing It Right Beats Doing It Fast

29:12 - Why Ethereum Keeps Getting It Wrong

36:22 - When Will Prices Catch Up? Charles' Market Framework

42:28 - The AI Wildcard and What It Means for Crypto

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.

Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

Check out your rate by using their loan calculator at ledn.io

This episode was hosted by Jennifer Sanasie.

Inside the CASHCAT Bet That Paid $1.2 Million | Markets Outlook Jul 16, 2026

Show notes

He turned $80,000 into $1.2 Million on one trade.

CEO and Founder of Kaizen, Brian Jung joins Jennifer Sanasie on Markets Outlook. Discover how Jung turned an $80,000 bet on CASHCAT into a million-dollar trade by spotting the Robinhood Chain opportunity before the rest of the market. Plus, why he believes crypto is still in a bear market and what he's watching for the next bull cycle.

And in this week's Brand New Rails, Franklin Crypto CIO Seth Ginns explains why tokenized money market funds are becoming one of the fastest-growing areas of digital assets.

Timecodes:

00:00 - Brian Jung Joins Markets Outlook

01:24 - The $80K Trade That Turned Into $1.25 Million

02:13 - How Mistakes Made Brian a Disciplined Trader

03:37 - Why Brian Was Watching Robinhood While Everyone Chased $Ansem

07:34 - How Brian's Research Team Found CASHCAT on Robinhood Chain

10:49 - Why CASHCAT Checked Every Box: The Memecoin Criteria

13:00 - The Exit Strategy: Why Brian Walked Away From a Multi-Seven-Figure Trade

16:13 - Brand New Rails: Tokenized Money Market Funds Hit $15 Billion+

18:34 - Why Brian Sat Out Most of 2026

20:31 - Is the Bitcoin Bottom In? Brian's Framework for Calling It

23:44 - How Brian Jung Got Into Crypto

25:48 - Brian's Long-Term Outlook

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.

Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

Check out your rate by using their loan calculator at ledn.io

This episode was hosted by Jennifer Sanasie.

Ethereum Must Move Faster or Risk Losing Its Edge Says Starkware Founder | Markets Outlook Jul 10, 2026

Show notes

Is Ethereum moving too slow?

On today's Markets Outlook, StarkWare CEO Eli Ben-Sasson tells CoinDesk's Jennifer Sanasie why he believes Ethereum's ambitious roadmap must move faster—or risk losing its first-mover advantage to newer, more modern blockchains. He also explains why quantum readiness has become an urgent priority and shares his vision for a durable, peer-to-peer financial system built on true economic freedom.

Plus, in this week's Brand New Rails, we speak with Backpack CEO Armani Ferrante after Backpack Securities' tokenized SpaceX stock (SPCX) surpassed $1 billion in trading volume.

Timecodes:

00:00 - Eli Ben-Sasson Joins Markets Outlook

01:07 - Eli’s Take on Vitalik's Ethereum Roadmap

03:23 - What Eli Would Do Differently: Speed and StarkNet Lessons

04:34 - What's at Stake if Ethereum Falls Behind

06:04 - What Ethereum Needs Now: Speed and Governance Transparency

09:25 - Brand New Rails: SpaceX IPO Drives Record Tokenized Equity Trading

11:16 - Recursive STARKs and Ethereum's Upgrade Path

13:01 - Quantum Computing: Can Ethereum Move Fast Enough?

16:58 - Privacy Wars: Zcash, Ethereum, and the Race for a Standard

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.

Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

Check out your rate by using their loan calculator at ledn.io

This episode was hosted by Jennifer Sanasie.

Why Markus Thielen Says Bitcoin's Pain Isn't Over Yet | Markets Outlook Jul 02, 2026

Show notes

Will Bitcoin dip below $50K?

On today's Markets Outlook, 10x Research Founder and CEO Markus Thielen tells CoinDesk's Jennifer Sanasie why he sees Bitcoin dropping even more before recovery, with $7B in ETF outflows since mid-May and MicroStrategy stepping back as the last real buyer. Plus, why he stays bearish on Ethereum, why he's calling Hyperliquid overvalued, and why nothing turns around until the Fed goes dovish.

Timecodes:

00:00 Bitcoin Could Dip to $46K Before Year-End Rally

01:20 Bitcoin Falls Below $60K: What's Driving the Selloff?

02:37 $4.5B in ETF Outflows, Saylor's Bitcoin Sale, and Missing Catalysts

03:14 Why the Genius Act and CLARITY Weren't Real Catalysts

05:00 When Does the Fed Turn Dovish? The Macro Case for a Rally

05:19 Kevin Warsh Nomination Was the Turning Point for Bitcoin

07:27 Why Bitcoin Could Break Below $50K to $46–47K

09:41 The 2022 Parallel: Grayscale's SEC Win as the Sentiment Shift

11:06 Brand New Rails: Securitize Lists on NYSE

12:40 Where Does Bitcoin End the Year?

13:51 Why Markus Is Still Bearish on Ethereum

15:20 Stablecoin Activity Isn't Accruing to ETH Holders

16:40 The Bull Case for ETH Has Broken Down

17:28 Hyperliquid Overvalued at $72?

18:33 Why HYPE Is Unlikely to Reach $100

19:46 What to Do Now: Covered Calls, Shorts, and Watching for the Low

This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co.

Ledn provides a secure and transparent way to access liquidity while maintaining your bitcoin holdings.

Perfect 8 year track record of keeping clients assets safe.

Don't sell your bitcoin. Get a bitcoin-backed loan.

Check out your rate by using their loan calculator at ledn.io

This episode was hosted by Jennifer Sanasie.

Ethereum Is Facing A Critical Funding Gap, Says Ex-EF Member | Markets Outlook Jun 25, 2026

Show notes

Does Ethereum have a funding crisis?

On today's Markets Outlook, Protocol Guild Organizer Trent Van Epps tells CoinDesk's Jennifer Sanasie why the Ethereum Foundation's subtraction philosophy is creating a critical funding gap for core developers, what it will take to fill it, and why he's still optimistic about ETH's future.

Timecodes:

00:00 - Trent Van Epps Joins Markets Outlook

00:57 - Why Trent Left the Ethereum Foundation

01:55 - What Is Subtraction and Why It Matters

02:31 - 20% Workforce Cuts and the Funding Gap Explained

05:09 - Options for Solving the Funding Crisis

07:06 - Will Ethereum Lose Its First Mover Advantage?

08:40 - What Happens If the Funding Doesn't Come?

10:47 - What Institutions Should Replace the EF?

12:24 - Ethereum’s Future

14:37 - ETH the Asset: The Misconceptions and the Opportunity

Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/mePmjknvBVc

To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp.

This episode was hosted by Jennifer Sanasie.

Why Arthur Hayes Says Fed Chair Kevin Warsh Is a Dove Despite Hawkish Reputation | Markets Outlook Jun 19, 2026

Show notes

Arthur Hayes on his HYPE position, AI bubble, and the new Fed Chair.

On today's Markets Outlook, BitMEX Co-Founder and Maelstrom CIO Arthur Hayes tells CoinDesk's Jennifer Sanasie why all roads still lead to money printing, how long the AI bubble has left, and why he has zero regrets about publicly selling his HYPE position. Plus, his reaction to Michael Saylor's Bitcoin stress test.

Timecodes:

00:00 - Arthur Hayes Joins Markets Outlook

01:30 - Arthur’s Reaction to Michael Saylor News and Strategy Business Model

02:59 - When Does the AI Bubble Burst?

03:56 - New Fed Chair Warsh's Task Forces & What It Really Means

06:58 - Uniswap & Standard Chartered's $100 Price Target

08:06 - Responding to the HYPE Selloff Drama

09:24 - HYPE vs. SOL: Which Wins?

For more commentary from Arthur Hayes:

IG - https://www.instagram.com/cryptohayes/

LinkedIn - https://www.linkedin.com/in/arthur-hayes-b493b42/

Substack - https://cryptohayes.substack.com/

Web: https://www.cryptohayes.com

X - https://x.com/cryptohayes

Maelstrom Fund:

LinkedIn: https://www.linkedin.com/company/maelstromfund

Web - https://www.maelstrom.fund

X - https://x.com/maelstromfund

Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/75LrBmSScvY

To get market moving news delivered daily, download CoinDesk’s mobile app: https://linktr.ee/coindeskapp.

This episode was hosted by Jennifer Sanasie.

Inside the Race to Fix Zcash's Shielded Pool Vulnerability | Markets Outlook Jun 11, 2026

Show notes

The bug that tanked ZEC with Josh Swihart.

On today's Markets Outlook, ZODL CEO Josh Swihart joins CoinDesk's Jennifer Sanasie to break down the Zcash vulnerability discovered with the help of AI, including how it was found, fixed, and what it means for the protocol's future. Plus, he weighs in on privacy coins vs. government pushback, formal verification as the new security standard, and why Zcash is more battle-hardened than ever.

Timecodes:

00:00 - Zcash Bug Found by AI After Four Years

03:26 - What Went Through Josh’s Mind When He Found Out

04:47 - Could the Bug Have Been Exploited?

05:47 - How the Bug Helps the Zcash Ecosystem

07:27 - Zcash vs. Other Privacy Protocols

09:54 - Will Governments Push Back on Privacy Coins?

11:45 - Formal Verification and Finding Future Vulnerabilities

14:08 - What Other Protocols Can Learn from This

Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/zn3D_adn6nI

Register now for CoinDesk’s Policy and Regulation event on September 24, 2026: ⁠https://policy-regulation.coindesk.com/⁠.

This episode was hosted by Jennifer Sanasie.

Arthur Hayes Sold HYPE and NEAR, Mert Mumtaz Says That’s Missing the Point | Markets Outlook Jun 04, 2026

Show notes

Market convictions with Helius' Mert Mumtaz.

On today's Markets Outlook, Helius CEO Mert Mumtaz tells CoinDesk's Jennifer Sanasie why he's tuning out the noise and staying convicted on Zcash, Solana, BTC and Hyperliquid. Plus, he weighs in on the Arthur Hayes drama, the Clarity Act, and why Bitcoin's transparency is actually a long-term vulnerability.

Timecodes:

00:00 - Institutional Capital Rotating into AI IPOs

01:53 - Met's 'Shield and Chill' Strategy

04:29 - Responding to Arthur Hayes Selling HYPE and NEAR positions

08:44 - Mert's Zcash Thesis

13:00 - Solana as the "Silicon Valley of Finance"

15:43 - Hyperliquid Thesis

Check out CoinDesk's latest episode of Public Keys from the NYSE: https://youtu.be/Nlp1QLZx0r0

This episode was hosted by Jennifer Sanasie.

Are Prediction Markets Killing Altcoins? | Scott Melker on Markets Outlook May 28, 2026

Show notes

Altcoins have lost the plot with Scott Melker.

In today's Markets Outlook, Scott Melker, Host of Wolf of All Streets, tells CoinDesk's Jennifer Sanasie why altcoins have lost the plot, what's really driving the weird market we're all feeling, and why Bitcoin is still the only bet he's making long-term. Plus: are prediction markets, tokenized equities, and "private Bitcoin" just hype?

Timecodes:

00:00 - Scott Melker Joins Markets Outlook

01:38 - Why Bitcoin Is Underrated

03:59 - Is Crypto Recreating the System It Was Built to Fight?

06:08 - Scott’s Bitcoin Origin Story

08:04 - Why This Market Feels Impossible to Read

10:07 - How Prediction Markets Killed the Altcoin Casino

13:33 - Teaching His Kids About Bitcoin and AI in a Complicated World

16:22 - AI Tokens and Zcash Outlook

18:33 - Zcash as Privacy Bitcoin: “It Makes Me Want to Puke”

19:46 - Scott's Bitcoin Price Outlook for the Rest of the Year

This episode was hosted by Jennifer Sanasie.