This week, Tushar Jain & Pranav Kanade join the show to discuss the current state of markets. We deep dive into where are we in the cycle, where to allocate in 2026, how to value tokens, stablecoin chains & more. Enjoy!

Follow Tushar: https://x.com/tushar_jain

Follow Pranav: https://x.com/vaneckpk

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

(01:20) Where Are We In The Market Cycle?

(06:35) Allocating In Crypto

(16:12) Coinbase Ad

(16:57) DAS Plug

(17:22) How To Value Crypto Tokens

(32:28) Investing In Apps vs L1s

(38:10) Crypto Social & Stablecoin Chains

(53:00) Investing In AI

(59:40) Positioning In 2026

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.

Building The Perfect Portfolio In 2026 | Tushar Jain & Pranav Kanade