Story vs Valuation, Hyperliquid TAM, Pump’s Problem & Ethena’s Token Reset @empirepod
Story vs Valuation, Hyperliquid TAM, Pump’s Problem & Ethena’s Token Reset  @empirepod
Uploaded August 2026 | Updated September 2026, 3 days ago
What matters more in today’s market: the numbers or the story investors believe?

This week, we debate crypto’s rebound and why markets increasingly reward narrative, momentum, and massive future outcomes over traditional valuation.

We also cover Hyperliquid vs Pump, Ethena’s token overhaul, AI valuation mania, and the convergence of trading and social. Enjoy!


TIMESTAMPS:
00:00 Intro
01:07 Is Crypto Risk Worth It?
08:07 Are AI Assistants Overhyped?
13:40 Is Crypto Undervalued Again?
22:06 Why Pump Trails Hyperliquid
30:14 Ads (TOKEN2049, Avalanche Summit)
34:12 Ethena Fixes Its Tokenomics
42:33 How Does Ethena Keep Growing?
49:30 Can FOMO Onboard Normies?
56:10 Content Of The Week


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EVENTS
› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th
blockworks.com/events

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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. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
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Story vs Valuation, Hyperliquid TAM, Pump’s Problem & Ethena’s Token Reset

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