Uploaded February 2026 | Updated September 2026, 3 days ago
This week, we're back with another weekly roundup where Rob walks us through Dragonfly's most recent $650M raise. We deep dive into the state of crypto VC, what allocators look for when deploying into crypto, whether tokens are investable in 2026, if Base will launch a token, and more. Enjoy.
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Follow Rob: https://x.com/HadickM
Follow Santi: https://x.com/santiagoroel
Follow Empire:https://x.com/theempirepod
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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! blockworks.co/event/digital-asset-summit-nyc-2026
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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:
coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire
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Timestamps:
00:00 Introduction
00:47 Inside Dragonfly’s $650M Raise
10:57 The State of Crypto VC
30:19 Coinbase Ad
31:03 DAS Plug
31:28 Are Tokens Investable?
40:54 Will Base Launch A Token?
45:23 Hyperliquid’s Policy Center
48:55 Content of The Week
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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, Rob and our guests may hold positions in the companies, funds, or projects discussed.
This week, we're back with another weekly roundup where Rob walks us through Dragonfly's most recent $650M raise. We deep dive into the state of crypto VC, what allocators look for when deploying into crypto, whether tokens are investable in 2026, if Base will launch a token, and more. Enjoy.
--
Follow Rob: https://x.com/HadickM
Follow Santi: https://x.com/santiagoroel
Follow Empire:https://x.com/theempirepod
--
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! blockworks.co/event/digital-asset-summit-nyc-2026
--
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:
coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire
--
Timestamps:
00:00 Introduction
00:47 Inside Dragonfly’s $650M Raise
10:57 The State of Crypto VC
30:19 Coinbase Ad
31:03 DAS Plug
31:28 Are Tokens Investable?
40:54 Will Base Launch A Token?
45:23 Hyperliquid’s Policy Center
48:55 Content of The Week
--
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.

![Market Sell Off, State of Crypto VC & Why Your Coin Isnt Pumping | Weekly Roundup
This week, Rob & Santi are back to discuss the top stories of the week. We deep dive into the recent panic in markets, Santis piece on crypto valuations, the state of crypto venture, Aaves app launch & more. Enjoy!
Follow Rob: https://x.com/HadickM
Follow Santi: https://x.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Referenced In The Show: https://x.com/santiagoroel/status/1990430092997050753
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This Empire episode is brought to you by VanEck.
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Investing involves substantial risk and high volatility, including possible loss of principal. Visit vaneck.com to read and consider the prospectus, containing the investment objective, risks, and fees of the fund, carefully before investing.
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00:00 Intro
02:21 Why Your Coin Isn’t Pumping
21:15 Ads (Zashi, Katana)
22:32 Where Are We In The Cycle?
27:29 The State of Crypto Venture
35:54 Ads (Zashi, Katana)
37:10 What Will Outperform In The Next 5 Years?
42:34 Aave Launches Aave App
50:35 Ads (VanEck, Uniswap)
52:17 Monad’s ICO
01:03:09 Content of The Week
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. Market Sell Off, State of Crypto VC & Why Your Coin Isnt Pumping | Weekly Roundup](https://i.ytimg.com/vi/ztuiY-hVFZ0/mqdefault.jpg)