Uploaded June 2025 | Updated September 2026, 2 days ago
Gm! This is a clip taken from our most recent episode with Rob Hadick and Diogo Mònica which explores the next crypto companies to IPO!
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Link to the full episode:
📺 YouTube: bit.ly/4dNUUl0
🎧 Spotify: bit.ly/3ZzrdhR
🎧 Apple: bit.ly/43oSBBh
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Start your day with crypto news, analysis and data from Katherine Ross.
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Grab your tickets to Permissionless IV. Use code EMPIRE10 for 10% off: blockworks.co/event/permissionless-iv
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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.
Gm! This is a clip taken from our most recent episode with Rob Hadick and Diogo Mònica which explores the next crypto companies to IPO!
--
Link to the full episode:
📺 YouTube: bit.ly/4dNUUl0
🎧 Spotify: bit.ly/3ZzrdhR
🎧 Apple: bit.ly/43oSBBh
--
Start your day with crypto news, analysis and data from Katherine Ross.
Subscribe to the Empire newsletter: blockworks.co/newsletter/empire?utm_source=podcasts
Follow Diogo: https://x.com/diogomonica
Follow Rob: https://x.com/HadickM
Follow Santi: https://x.com/santiagoroel
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: blockworks.co/newsletter
--
Grab your tickets to Permissionless IV. Use code EMPIRE10 for 10% off: blockworks.co/event/permissionless-iv
--
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 Trade Crypto Cycles with Raoul Pal
This week, Raoul Pal joins the show to discuss the current state of markets. As crypto & equities face their first significant sell off since the April lows, we deep dive into whats next for markets. Raoul discusses why he believes theres a wave of liquidity coming in 2026, how to trade crypto cycles, valuing crypto networks, has the DAT bubble burst, Raouls AI thesis & more. Enjoy!
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Follow Raoul: https://x.com/RaoulGMI
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Zcash is encrypted Bitcoin. Your digital bill of rights securing your freedom for the 21st century.
Buy, store and spend ZEC privately using Zashi Wallet download today: https://electriccoin.co/zashi/
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]
This Empire episode is brought to you by VanEck.
Learn more about the VanEck Onchain Economy ETF (NODE): http://vaneck.com/EmpireNODE
An investment in the Fund involves a substantial risk and is not suitable for all investors. It is possible to lose your entire principal investment. The Fund may invest nearly all of its net assets in either Digital Transformation Companies and/or Digital Asset Instruments. The Fund does not invest in digital assets or commodities directly.
Digital asset instruments may be subject to risks associated with investing in digital asset exchange-traded products (“ETPs”), which include the historical extreme volatility of the digital asset and cryptocurrency market, as well as less regulation and thus fewer investor protections, as these ETPs are not investment companies registered under the Investment Company Act of 1940 (“1940 Act”) or commodity pools for the purposes of
the Commodity Exchange Act (“CEA”).
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.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.
Uniswap’s Trading API offers plug-and-play access to deep onchain and off-chain liquidity, delivering enterprise-grade crypto trading without the complexity - from one of the most trusted teams in DeFi.
Click to get started with seamless, scalable access to Uniswap’s powerful onchain trading infrastructure. https://hub.uniswap.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=ww_web_bw_awa_trading-api_20251117_podcast_clicks
00:00 Introduction
01:25 Where Are We In The Macro Cycle?
10:11 How To Value Crypto Networks?
20:58 Ads (Zcash, Katana)
22:14 The K-Shaped Economy
25:31 Has The DAT Bubble Burst?
28:24 Why Liquidity Drives Markets
38:19 Ads (Zcash, Katana)
39:35 How To Trade Crypto Cycles
49:57 Ads (VanEck, Uniswap)
51:39 Raouls AI Thesis
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 Trade Crypto Cycles with Raoul Pal](https://i.ytimg.com/vi/UvK_HbA7XRs/mqdefault.jpg)
![Crypto Meets Cards: Shaping the Future of Commerce | Permissionless IV Fireside Chat | Bonus Episode
This week, were excited to share with our community a bonus episode from PERMISSIONLESS IV, which just took place this past week in Brooklyn, NY. This is a Fireside Chat with Yano and Ivan Soto-Wright, the CEO of MoonPay, and Sherri Haymond of MasterCard who dive in and discuss the fusion of DeFi and TradFi.
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
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🎧 Apple - https://bit.ly/4eAGLYX
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Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
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]
CHAPTERS
00:25 - Intro
01:00 - Mastercards Web3 Journey
02:53 - Stablecoins + MoonPay
05:08 - MoonPay + MasterCard Partnership
07:28 - Katana Ad
08:28 - Beneficiaries Of The Future Of DeFi + TradFi
12:25 - Global Stablecoin Adoption
15:25 - Stablecoin Backed Cards
16:31 - Katana Ad
20:12 - Future Industry Thesis For Tokenization
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. Crypto Meets Cards: Shaping the Future of Commerce | Permissionless IV Fireside Chat | Bonus Episode](https://i.ytimg.com/vi/VG_ROEoAftE/mqdefault.jpg)




