In this episode, hosts Sebastien Couture, Brian Crain, and Friederike Ernst gather for their annual wrap-up to discuss the end of the "infinite money glitch": the era where tokens traded at billions without proven product-market fit. They explore the 2025 "spring cleaning" that devastated the altcoin market and the quiet, efficient entry of web2 incumbents like Revolut and Stripe. The discussion centers on the industry's maturation into a space where protocols are finally judged on their ability to generate real revenue and growth.

The team analyzes the 2025 "spring cleaning" of altcoins alongside Polymarket’s mainstream breakout. As giants like Stripe and Revolut scale crypto integrations, the hosts debate if consolidating distribution power is diluting the original promise of decentralized agency. Finally, they address the existential quantum threat to Bitcoin and share their 2026 "hot takes.

Topics

00:00 Intro & Notable Memories
04:30 The Bybit Hack & Price Action
08:15 Polymarket & The Mainstream Breakout
12:00 The Altcoin "Spring Cleaning"
18:45 Axelar & The Circle Acquisition
25:30 Incumbents: Back-end Upgrades vs. Values
33:15 Social Media & The Economics of Attention
42:00 Staking Consolidation & Distribution Power
50:30 The Quantum Threat to Bitcoin
58:45 2026 Predictions: RWAs & Perps

Links

Sebastien on X: https://x.com/seb3point0
Brian on X: https://x.com/crainbf
Friederike on X: https://x.com/tw_tter
Gnosis: https://gnosis.io/

Sponsors: Gnosis: Gnosis has been building core decentralized infrastructure for the Ethereum ecosystem since 2015. With the launch of Gnosis Pay last year, we introduced the world's first Decentralized Payment Network. Start leveraging its power today at http://gnosis.io