This week, Santi joined Jonah & Avi on the 1000x podcast to discuss Bitcoin breaking $95k, why crypto valuations are struggling, how AI and traditional markets offer better value and clearer cash-flow stories, and why the next era of winners will be real applications, not infrastructure. Enjoy!
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Zcash is encrypted Bitcoin. Your digital bill of rights securing your freedom for the 21st century.
Buy, store and spend ZEC privately using Zashi Wallet download today: https://electriccoin.co/zashi/
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Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users.
Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates [https://app.katana.network/krates]
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Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3.
Key elements for Mantle as the ""Blockchain for Banking"":
Transactions posted to the blockchain
Compatibility with TradFi rails
Integrated DeFi features
Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier.
Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'.
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Timestamps:
(01:11) Crypto’s Valuation Problem
(04:41) Crypto vs the Stock Market
(07:55) Crypto’s Valuation Problem Cont.
(12:49) Ads (Zcash, Katana)
(14:03) Is This Time Different?
(18:19) Valuations vs Active Users
(21:33) Future of Blockchain
(25:12) Bitcoin vs Crypto
(29:07) Crypto Needs Cash Flows
(32:24) Ads (Zcash, Katana)
(33:38) Underwriting New Chains
(40:52) Western Union Thesis
(43:58) Equity vs Token Holders
(46:30) The Future of Blockchain Investments
(49:46) Missing the Forest for the Trees
(54:06) Ads (mantle)
(55:05) Still Bullish Bitcoin
(59:20) Institutional Interest in Crypto
(01:05:26) Final Thoughts
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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.
In this episode, we cover institutional crypto adoption, stablecoins’ interplay with treasuries and 24/7 repo financing on Canton, the risks associated with wrapped assets and stablecoin fragmentation, and 2026 expectations for broader, client-driven OTC and onchain activity.
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Quadrillions brings together the voices defining the next era of finance. From institutional rails to stablecoins and privacy, the series dives into how traditional markets, crypto innovation, and regulatory frameworks are converging to bring the full force of capital markets onchain.
Join hosts Jason Yanowitz, Yuval Rooz, and Eric Saraniecki for deep dives with special guests Shaul Kfir, Don Wilson, Mike Belshe, Justin Peterson, Acting Chair Caroline Pham, Eli Ben-Sasson, and more.
Produced by Blockworks and Canton Network. For more information, check out https://quadrillionspod.com/
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Follow Canton: https://x.com/CantonNetwork
Follow Tradeweb: https://x.com/Tradeweb
Follow Mike: https://x.com/mikebelshe
Follow Eric: https://x.com/wesarn_real
Follow Empire: https://twitter.com/theempirepod
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Timestamps:
(0:00) Introduction
(1:38) Tradeweb's Origin Story
(3:58) The State of Institutional Crypto Adoption
(8:23) Where is the Most Growth Right Now?
(10:26) Consolidating Stablecoins
(15:23) Tradeweb's Crypto Strategy
(18:32) What Does Crypto Solve Today?
(23:37) The Next 100x Growth Opportunity
(27:56) Bringing RWAs Onchain
(31:25) The Role of Custodians
(35:03) Canton's Go-to-market Strategy
(38:31) Tokenized Equities
(44:02) The Need For Privacy
(49:23) Crypto Adoption Going Forward
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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.
