The Market Runup

Crypto Lost the Plot (And How Onchain Credit Brings It Back) | DeFi Dave

Host Erin Gambrel (The Blonde Broker) sits down with DeFi Dave, co-founder of CAP, to get into why credit has always been the engine of the economy and why onchain credit might finally be the story that pulls institutions and retail alike back into DeFi.  Dave breaks down how CAP works — a three-sided marketplace of depositors, borrowers, and underwriters where smart contracts replace the trust you'd otherwise have to put in people — and explains why firms like Susquehanna and Franklin Templeton are already borrowing and backing it.  He explains what went wrong in crypto: too many L2s nobody asked for, a community that drank its own Kool-Aid, and a space that lost its storytelling ability somewhere between DeFi summer and ETH Denver 2025.  TIMESTAMPS  3:41 — Introducing CAP: How the Credit Platform Works 10:24 — Transparency & Trust in Credit Markets 12:40 — Where Capital Is Flowing Today 15:59 — Crypto Lost the Plot — And Lore Building 20:21 — The Rise of Private Credit 23:41 — CAP's Yield Model & Rates 25:26 — Has Investor Psychology Fundamentally Changed? 30:52 — What Institutions Get That Retail Doesn't 32:28 — Tokenization's Next Five Years Host: Erin Gambrel (The Blonde Broker) Host Socials: @theblondebroker (X) | @blondebrokerofficial (Instagram) You can subscribe to the podcast on Spotify, Apple or YouTube. If you enjoy the show, please leave a review — it really helps.  Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbC1wRk0yX2xxZG1scWRlZFhHV3V3QkpWR0RJZ3xBQ3Jtc0treGFBUWVDRGYyYWN1UGprSjItckRKNnROZ2x4Sl8yNjZJWnV6SFBVaXMwb2RObm14MDRHUnpZUmFxcWZlbTBfVGtlelF5bl9ObzkxMGNiU1ZwWGJfYllwZFJhZmNxd0pTaklBLUZuaGZfUkVKRWNIRQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F0LOgWxIQ0NnNUD5eXsSuoZ&v=bHnKqwU_Pm0https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT [https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT]  Apple Podcasts: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDdpM0dxMUp3ZktXNm5tdWJscE5FbEw2ZnJsQXxBQ3Jtc0ttcnI3VHNVR0ctNXdobGZabVEtTE9aVW51OGJhcnZ0UFhmNmVCdHcyVHJQSi1SNGtUeU0xZnVqVUFlak9qaEdvcmRvXzRtWlpYSWpUZkNMZUpuQWZsS3ZWRW5ZelRvQWw4Y2xyYmxwMVdsd2toY3RWNA&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Ftalking-tokens%2Fid1743669141&v=bHnKqwU_Pm0https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132 [https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132]  YouTube: https://www.youtube.com/@TheMarketRunup [https://www.youtube.com/@TheMarketRunup]  Follow us on X:  https://x.com/TheMarketRunup [https://x.com/TheMarketRunup]  Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

Crypto's Real Competition Isn't AI — It's Its Own Holders | Abram Wimmer

Host Erin Gambrel (The Blonde Broker) sits down with Abram Wimmer of HODL Bonds who thinks the space's biggest enemy has never been AI, regulation, or even bear markets — it's the emotional whiplash of its own users.  Abram breaks down why HODLing sounds simple but keeps failing in practice, and walks through HODL Bonds, the structured product he's building that lets people hold Bitcoin, ETH, and AVAX while a professional strategy works in the background, all without ever giving up custody. He makes the case that crypto has never built the kind of risk-management infrastructure traditional finance figured out decades ago, and explains why that gap is exactly what's driving people to FOMO into things like SpaceX instead.  TIMESTAMPS  00:00 Welcome and Market Overview 02:54 Transitioning from Traditional Finance to Crypto 05:54 The Emotional Landscape of Crypto Investing 09:09 The Competition: Crypto vs. AI and Traditional Assets 12:09 The Future of HODLing and Investment Products 14:59 Building Better Investment Solutions in Crypto 17:54 Retail Investors and the HODL Bond 20:56 Navigating the Crypto Market: Advice for Newcomers 23:49 Legacy and Vision for the Future Host: Erin Gambrel (The Blonde Broker) Host Socials: @theblondebroker (X) | @blondebrokerofficial (Instagram) You can subscribe to the podcast on Spotify, Apple or YouTube. If you enjoy the show, please leave a review — it really helps.  Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbC1wRk0yX2xxZG1scWRlZFhHV3V3QkpWR0RJZ3xBQ3Jtc0treGFBUWVDRGYyYWN1UGprSjItckRKNnROZ2x4Sl8yNjZJWnV6SFBVaXMwb2RObm14MDRHUnpZUmFxcWZlbTBfVGtlelF5bl9ObzkxMGNiU1ZwWGJfYllwZFJhZmNxd0pTaklBLUZuaGZfUkVKRWNIRQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F0LOgWxIQ0NnNUD5eXsSuoZ&v=bHnKqwU_Pm0https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT [https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT]  Apple Podcasts: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDdpM0dxMUp3ZktXNm5tdWJscE5FbEw2ZnJsQXxBQ3Jtc0ttcnI3VHNVR0ctNXdobGZabVEtTE9aVW51OGJhcnZ0UFhmNmVCdHcyVHJQSi1SNGtUeU0xZnVqVUFlak9qaEdvcmRvXzRtWlpYSWpUZkNMZUpuQWZsS3ZWRW5ZelRvQWw4Y2xyYmxwMVdsd2toY3RWNA&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Ftalking-tokens%2Fid1743669141&v=bHnKqwU_Pm0https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132 [https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132]  YouTube: https://www.youtube.com/@TheMarketRunup [https://www.youtube.com/@TheMarketRunup]  Follow us on X:  https://x.com/TheMarketRunup [https://x.com/TheMarketRunup]  Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

Why AI Is Eating Crypto's Lunch Right Now | Kyle Reidhead, Milk Road

Host Erin Gambrel (The Blonde Broker) sits down with Kyle Reidhead, Co-Owner of Milk Road & Co-Founder of Impact3 to talk about all the ways crypto is suffering right now.  Kyle's been saying "buy Compute, sell Bitcoin" for months, and he breaks down exactly why. Corporations are treating Compute the way everyone thought they'd treat Bitcoin, as a productive store of value, and the capital that would have flowed into crypto is getting sucked straight into AI infrastructure instead. Kyle and Erin also get into the SpaceX IPO low-float trade, whether AI models will eventually require KYC, and why Kyle thinks Anthropic and OpenAI might actually be in a tougher spot than most people realize.  TIMESTAMPS  00:00 The Rise of Compute as an Asset 03:27 The Future of Bitcoin in a Compute-Driven World 05:35 SpaceX: The New Frontier of Compute 09:30 Retail Investors: The Return of Risk Appetite 12:27 The Impact of Retail on Market Dynamics 15:10 Geopolitical Risks and Market Reactions 17:10 The Shift of Capital from Crypto to AI 20:27 Regulation and the Future of AI 24:46 Identifying Mispriced Assets in Today's Market 29:05 Consensus Views and Predictions for the Future Host: Erin Gambrel (The Blonde Broker) Host Socials: @theblondebroker (X) | @blondebrokerofficial (Instagram) You can subscribe to the podcast on Spotify, Apple or YouTube. If you enjoy the show, please leave a review — it really helps.  Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbC1wRk0yX2xxZG1scWRlZFhHV3V3QkpWR0RJZ3xBQ3Jtc0treGFBUWVDRGYyYWN1UGprSjItckRKNnROZ2x4Sl8yNjZJWnV6SFBVaXMwb2RObm14MDRHUnpZUmFxcWZlbTBfVGtlelF5bl9ObzkxMGNiU1ZwWGJfYllwZFJhZmNxd0pTaklBLUZuaGZfUkVKRWNIRQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F0LOgWxIQ0NnNUD5eXsSuoZ&v=bHnKqwU_Pm0https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT [https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT]  Apple Podcasts: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDdpM0dxMUp3ZktXNm5tdWJscE5FbEw2ZnJsQXxBQ3Jtc0ttcnI3VHNVR0ctNXdobGZabVEtTE9aVW51OGJhcnZ0UFhmNmVCdHcyVHJQSi1SNGtUeU0xZnVqVUFlak9qaEdvcmRvXzRtWlpYSWpUZkNMZUpuQWZsS3ZWRW5ZelRvQWw4Y2xyYmxwMVdsd2toY3RWNA&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Ftalking-tokens%2Fid1743669141&v=bHnKqwU_Pm0https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132 [https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132]  YouTube: https://www.youtube.com/@TheMarketRunup [https://www.youtube.com/@TheMarketRunup]  Follow us on X:  https://x.com/TheMarketRunup [https://x.com/TheMarketRunup]  Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

Trapped Capital & Broken Markets: Why Our Current Financial System Might Be Broken | Brian J. Esposito

Host Erin Gambrel (The Blonde Broker) sits down with Brian J. Esposito, founder of Diamond Lake, to talk about why he's spent 13 years building toward a world most people are only now starting to pay attention to. Brian has a lot to say about what's broken in the current financial system and he argues tokenization isn't just a trend, it's the only real fix.  He walks through the Diamond Lake model, which he calls the Berkshire Hathaway of tokenization: own real assets, manage them well, and let everyone from a crypto native to a Charles Schwab client participate through whatever instrument makes sense for them.  TIMESTAMPS  00:00 Game Night Energy: Knicks vs Spurs 01:53 Market Signals: Mixed Messages in the Economy 06:12 Bitcoin: A Double-Edged Sword 11:02 The Future of Public Markets and Tokenization 16:56 Real World Assets: The Right Time for Investment 23:08 Navigating Bear Markets and Infrastructure Adoption 29:02 Sovereign Debt: Concerns and Consequences 34:09 Liquidity Signals: Building for the Future 37:01 Legacy: Access to Clean Water and Ownership ════════════════════════════════════════════════════════════  Host: Erin Gambrel (The Blonde Broker)  Host Socials: @theblondebroker (X) | @blondebrokerofficial (Instagram) You can subscribe to the podcast on Spotify, Apple or YouTube. If you enjoy the show, please leave a review — it really helps.  Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbC1wRk0yX2xxZG1scWRlZFhHV3V3QkpWR0RJZ3xBQ3Jtc0treGFBUWVDRGYyYWN1UGprSjItckRKNnROZ2x4Sl8yNjZJWnV6SFBVaXMwb2RObm14MDRHUnpZUmFxcWZlbTBfVGtlelF5bl9ObzkxMGNiU1ZwWGJfYllwZFJhZmNxd0pTaklBLUZuaGZfUkVKRWNIRQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F0LOgWxIQ0NnNUD5eXsSuoZ&v=bHnKqwU_Pm0https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT [https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT]  Apple Podcasts: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDdpM0dxMUp3ZktXNm5tdWJscE5FbEw2ZnJsQXxBQ3Jtc0ttcnI3VHNVR0ctNXdobGZabVEtTE9aVW51OGJhcnZ0UFhmNmVCdHcyVHJQSi1SNGtUeU0xZnVqVUFlak9qaEdvcmRvXzRtWlpYSWpUZkNMZUpuQWZsS3ZWRW5ZelRvQWw4Y2xyYmxwMVdsd2toY3RWNA&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Ftalking-tokens%2Fid1743669141&v=bHnKqwU_Pm0https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132 [https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132]  YouTube: https://www.youtube.com/@TheMarketRunup [https://www.youtube.com/@TheMarketRunup]  Follow us on X:  https://x.com/TheMarketRunup [https://x.com/TheMarketRunup]  Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.

Dead Capital Is Crypto's Biggest Problem No One Talks About | Chris Soriano, Bridgeport

Host Erin Gambrel (The Blonde Broker) sits down with Chris Soriano, co-founder and CCO of Bridgeport, to dig into the market structure shift that's been quietly reshaping how institutions actually move capital in crypto. Chris breaks down why pre-funding requirements have locked up billions in dead capital across exchanges, and why off-exchange settlement is the fix that serious players have been waiting for. He draws a direct line from the FTX collapse to today, explaining how it rewired institutional thinking around counterparty risk, custody, and transparency, and why that paranoia is actually accelerating the move toward OTC and bilateral trading relationships that look a lot more like FX markets than anyone expected. They also get into the Bretton Woods moment stablecoins are quietly having, where TradFi still has crypto beat, and what role Bridgeport wants to play when people look back at this era of market infrastructure ten years from now.  TIMESTAMPS  00:00 The Knicks and the NBA Finals Hysteria 01:41 Shifting Focus: From Tokens to Market Structure 04:34 Inefficiencies in Crypto Markets 09:48 Post-FTX Institutional Psychology 12:45 The Evolution of Crypto Market Structure 16:24 Bretton Woods and Financial Architecture 19:15 Comparing TradFi and Crypto 23:35 The Future of Crypto Trading Host: Erin Gambrel (The Blonde Broker)  Host Socials: @theblondebroker (X) | @blondebrokerofficial (Instagram) You can subscribe to the podcast on Spotify, Apple or YouTube. If you enjoy the show, please leave a review — it really helps.  Spotify: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbC1wRk0yX2xxZG1scWRlZFhHV3V3QkpWR0RJZ3xBQ3Jtc0treGFBUWVDRGYyYWN1UGprSjItckRKNnROZ2x4Sl8yNjZJWnV6SFBVaXMwb2RObm14MDRHUnpZUmFxcWZlbTBfVGtlelF5bl9ObzkxMGNiU1ZwWGJfYllwZFJhZmNxd0pTaklBLUZuaGZfUkVKRWNIRQ&q=https%3A%2F%2Fopen.spotify.com%2Fshow%2F0LOgWxIQ0NnNUD5eXsSuoZ&v=bHnKqwU_Pm0https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT [https://open.spotify.com/show/5uNrU4WCIaMVJjgH6NlMUT]  Apple Podcasts: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDdpM0dxMUp3ZktXNm5tdWJscE5FbEw2ZnJsQXxBQ3Jtc0ttcnI3VHNVR0ctNXdobGZabVEtTE9aVW51OGJhcnZ0UFhmNmVCdHcyVHJQSi1SNGtUeU0xZnVqVUFlak9qaEdvcmRvXzRtWlpYSWpUZkNMZUpuQWZsS3ZWRW5ZelRvQWw4Y2xyYmxwMVdsd2toY3RWNA&q=https%3A%2F%2Fpodcasts.apple.com%2Fus%2Fpodcast%2Ftalking-tokens%2Fid1743669141&v=bHnKqwU_Pm0https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132 [https://podcasts.apple.com/us/podcast/the-market-runup/id1877489132]  YouTube: https://www.youtube.com/@TheMarketRunup [https://www.youtube.com/@TheMarketRunup]  Follow us on X:  https://x.com/TheMarketRunup [https://x.com/TheMarketRunup]  Note: This podcast is for informational purposes only. Views shared are opinions, not financial advice. The host or guests may have financial interests in discussed content.