Uploaded October 2025 | Updated September 2026, 2 days ago
This week, the Hivemind team breaks down the current state of the market as crypto's recovers from it's post October leverage unwind. We deep dive into what's outperforming, analogies to the dot com bubble vs today, Zcash's outperformance, max pain for altcoins & more. Enjoy!
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Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: blockworks.co/newsletter/empire
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Follow Ceteris: https://x.com/ceterispar1bus
Follow Duncan: https://x.com/FloodCapital
Follow Yan: https://x.com/YanLiberman
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Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: blockworks.co/newsletter/
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Timestamps:
0:00 Introduction
0:49 State of The Market
9:33 The Dot Com Bubble vs Today
13:51 Hyperliquid's Resurgence
21:00 The MegaETH ICO
25:24 Altcoins
35:15 Zcash
43:30 Pump Fun
48:34 Galaxy's $1.15B Senior Notes Offering
52:08 ETHZilla’s Share Buyback
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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, the Hivemind team, and our guests may hold positions in the companies, funds, or projects discussed.
This week, the Hivemind team breaks down the current state of the market as crypto's recovers from it's post October leverage unwind. We deep dive into what's outperforming, analogies to the dot com bubble vs today, Zcash's outperformance, max pain for altcoins & more. Enjoy!
--
Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: blockworks.co/newsletter/empire
--
Follow Ceteris: https://x.com/ceterispar1bus
Follow Duncan: https://x.com/FloodCapital
Follow Yan: https://x.com/YanLiberman
Follow Jason: https://x.com/3xliquidated
Follow Empire: https://x.com/theempirepod
Subscribe on YouTube: bit.ly/4jYEkBx
Subscribe on Apple: bit.ly/3ECSmJ3
Subscribe on Spotify: bit.ly/4hzy9lH
--
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: blockworks.co/newsletter/
--
Timestamps:
0:00 Introduction
0:49 State of The Market
9:33 The Dot Com Bubble vs Today
13:51 Hyperliquid's Resurgence
21:00 The MegaETH ICO
25:24 Altcoins
35:15 Zcash
43:30 Pump Fun
48:34 Galaxy's $1.15B Senior Notes Offering
52:08 ETHZilla’s Share Buyback
--
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.



![Why This Billionaire is All In on Crypto, AI & Psychedelics | Christian Angermayer
This week Christian Angermayer joins the show to discuss the future of crypto, AI & psychedelics. We deep dive into Christians past during the European debt crisis, why AI & robotics will completely reshape the labor force, Christians 5 key investment themes, the controversial enhanced games & more. Enjoy!
Follow Christian: https://x.com/C_Angermayer
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
Crypto’s premiere institutional conference returns to London in October 2025. Use code EMPIRE200 for £200 off at checkout: https://blockworks.co/event/digital-asset-summit-2025-london
Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemons Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults.
Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo!
peaq, the Machine Economy Computer, proudly sponsors the Empire podcast.
peaq is home to 60+ apps across 20+ industries and millions of devices, machines, and onchain robots.
It powers the world’s first tokenized robo-farm, launching soon in Hong Kong, and has launched the Machine Economy Free Zone in Dubai as a Web3 x Robotics x AI innovation hub.
For more about peaq, check out www.peaq.xyz
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]
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.
00:00 Intro
03:08 Christians Origin Story
07:10 The European Sovereign Debt Crisis
12:15 Why The U.S Will Continue To Dominate
20:54 Ads (Blockdaemon, Peaq)
22:06 Christians AI & Robotics Thesis
39:36 Ads (Blockdaemon, Peaq)
40:48 Why Christian Is All In On Psychedelics
58:00 Ads (Katana, Mantle)
59:37 Christians 5 Key Investing Themes
01:15:19 Why Life Expectancy Will Increase
01:18:48 The Enhanced Games
01:33:55 Building Friendships & Partnerships
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. Why This Billionaire is All In on Crypto, AI & Psychedelics | Christian Angermayer](https://i.ytimg.com/vi/_dsfD5C3M3o/mqdefault.jpg)


![How to Launch a Token (Legally)
Gm! This week Miles Jennings and Eddy Lazzarin join Yano to dive into how a16z is approaching the current crypto landscape with a big focus on token design, designation, and how Founders can think pragmatically both along legal and engineering lines to execute their project.
Start your day with crypto news, analysis and data from Katherine Ross.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
Follow Eddy: https://x.com/eddylazzarin
Follow Miles: https://x.com/milesjennings
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees.
SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at https://skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork
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]
Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit https://www.ledn.io to learn more.
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Chapters:
00:00 - Episode Intro
03:36 Progress In DC
05:42 Paul Atkins’ Onchain Declaration
13:55 End of Foundation Era In Crypto
27:31 Ads (Skale, Katana)
29:02 DUNAs & BORGs
40:12 Defining Tokens
54:54 Ads (Skale, Katana)
56:25 Token Transparency & Classifications
01:07:29 When Fees?
01:15:55 Ads (LEDN)
01:16:57 Balancing PortCos
01:19:44 Common Founder FAQs
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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. How to Launch a Token (Legally)](https://i.ytimg.com/vi/anrtP7AbC9A/mqdefault.jpg)

![The Bull Case For GLXY
Gm! This week, Duncan and Matt join Yano to dive into Galaxy the day before their quarterly earnings drop. In this episode, Duncan and Matt dive into Galaxy’s unique business model and how it’s perfectly positioned for the AI, crypto and datacenter narratives and how this will propel GLXY stock, as we move into the future.
Start your day with crypto news, analysis and data from Katherine Ross.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
Follow Rittenhouse Research: https://x.com/RHouseResearch
Follow Duncan: https://x.com/FloodCapital
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees.
SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at https://skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork
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]
Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space.
Visit https://www.ledn.io to learn more.
Chapters:
00:00 - Intro
02:32 Unpacking Galaxy
06:35 Bitcoin Mining
14:01 Crypto Business
16:02 Ads (Skale, Katana)
17:32 Galaxy’s Products
24:43 Goldman Sachs’ Valuation
31:58 Data Center Business
42:39 Ads (Skale, Katana)
44:10 Galaxy’s Business Evolution
53:40 Economics Explored
01:01:06 Data Center Developments
01:13:05 Ads (LEDN)
01:14:06 Challenges
01:26:55 GLXY Stock Analysis
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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. The Bull Case For GLXY](https://i.ytimg.com/vi/cNLFPx0m2I8/mqdefault.jpg)

