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Bell Curve

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Bell Curve
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  • Inside Crypto’s Liquidity Crunch | Romeo Ravagnan & Sonya Kim
    In this episode, we’re joined by Romeo Ravagnan and Sonya Kim from 3F Labs to discuss the $30 billion open-interest wipeout, Binance’s margin issues, and the collapse of Stream Finance’s xUSD. They unpack pooled versus isolated risk models in lending, liquidity dynamics, and emerging strategies for leveraging RWAs onchain.Thanks for tuning in! -- The Canton Network is the only public, permissionless blockchain built for institutional finance— combining privacy, compliance, and scalability. It enables real-time, secure synchronization and settlement across asset classes on a shared, interoperable infrastructure. It’s the link between the promise of blockchain and the power of global finance, making finance flow as it should.  Learn more about the Canton Network here: https://www.canton.network/?utm_source=podcast&utm_medium=shownotes&utm_campaign=cantonprivacy&utm_id=blockworks -- Katana directs chain revenue back to DeFi users for consistently higher yields. It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags: https://app.katana.network/?utm_source=BW-Pod -- Follow 3F Labs: https://x.com/3FLabs Follow Romeo: https://x.com/3f_romeo Follow Sonya: https://x.com/sonyasunkim Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (1:31) Crypto's Open Interest Wipeout (15:54) Ads (Canton & Katana) (17:02) Stream Finance and xUSD (26:22) Isolated vs Pooled Risk Models (50:34) Ads (Canton & Katana) (51:48) RWA Strategies (1:03:57) Bringing New Strategies Onchain -- Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.
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  • Crypto Finally Goes Mainstream | Roundup
    In this solo Roundup, Mippo discusses JPMorgan’s pivot, the disruptive potential of stablecoins, new spot ETFs, the sustained growth of prediction markets, Trump pardoning CZ, and Western Union’s upcoming stablecoin. Thanks for tuning in! -- Resources Stablecoin Linked Cards - Way Better Secured Credit Cards: https://x.com/sytaylor/status/1982474892114096349 -- The Canton Network is the only public, permissionless blockchain built for institutional finance— combining privacy, compliance, and scalability. It enables real-time, secure synchronization and settlement across asset classes on a shared, interoperable infrastructure. It’s the link between the promise of blockchain and the power of global finance, making finance flow as it should.  Learn more about the Canton Network here: https://www.canton.network/?utm_source=podcast&utm_medium=shownotes&utm_campaign=cantonprivacy&utm_id=blockworks -- Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (2:23) Jamie Dimon Admits He Was Wrong (4:34) The GENIUS Act's Impact (10:52) Canton Ad (11:37) New Spot ETFs Launch (15:03) Prediction Markets Continue to Grow (18:59) Will Binance Expand Into the US? (23:36) Canton Ad (24:19) Can General Purpose L1s Keep Up? (27:42) Western Union's Stablecoin -- Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.
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  • The Token Revolution | Roundup
    This week, Mippo dives into current crypto market sentiment, bullish macro trends, potential 2026 market shifts, rising barriers to entry in crypto sectors, and consolidation among exchanges. He also unpacks Ribbit Capital’s thesis linking AI and crypto, Coinbase’s acquisition of Echo, and renewed optimism for U.S. crypto regulation through the CLARITY Act. Thanks for tuning in! -- Resources Bitcoin OI Drops: Forward Returns Analysis: https://x.com/valterebelo/status/1981356384894451752 Trump Pardons CZ: https://blockworks.co/news/trump-pardons-changpeng-zhao Ribbit Capital: Token Letter: https://www.ribbitcap.com/knowledge Coinbase Acquires Echo: https://blockworks.co/news/coinbase-acquires-echo -- Katana directs chain revenue back to DeFi users for consistently higher yields. It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags: https://app.katana.network/?utm_source=BW-Pod -- Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (0:00) Introduction (0:48) Market Outlook (3:40) How Will Markets Look in 2026? (11:40) Katana Ad (12:09) The Next Wave of Infrastructure (13:37) The Token Revolution (23:29) Katana Ad (24:06) Coinbase Acquires Echo (30:32) The CLARITY Act -- Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.
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  • Gold Hits All-Time Highs, Stablecoin Adoption, and Historic Liquidations | Roundup
    On this week’s Roundup, we discuss gold’s new highs, and the implications this has for Bitcoin and crypto markets. We also unpack institutional crypto adoption, stablecoin-driven innovation, market liquidations, CeFi vs. DeFi resilience, and rising interest in prediction markets and tokenized financial systems. Thanks for tuning in! -- Katana directs chain revenue back to DeFi users for consistently higher yields. It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags: https://app.katana.network/?utm_source=BW-Pod -- The Canton Network is the only public, permissionless blockchain built for institutional finance— combining privacy, compliance, and scalability. It enables real-time, secure synchronization and settlement across asset classes on a shared, interoperable infrastructure. It’s the link between the promise of blockchain and the power of global finance, making finance flow as it should.  Learn more about the Canton Network here: https://www.canton.network/?utm_source=podcast&utm_medium=shownotes&utm_campaign=cantonprivacy&utm_id=blockworks -- Follow Michael: https://twitter.com/im_manderson Follow Vance: https://twitter.com/pythianism Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx -- Timestamps: (0:00) Intro (1:16) Gold Hits All Time High (16:04) Katana Ad (16:34) Stablecoin Adoptions Impact On Sentiment (29:05) Katana Canton Ad (30:20)  Historic Liquidations In Crypto Markets (49:45) Thoughts on Predictions Markets -- Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.
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  • Bitcoin Seasonality, Capital Flows, and New Stablecoins | Roundup
    This week, we discuss Bitcoin’s seasonal trends, venture capital flows in crypto and AI, Flying Tulip’s $200M seed round, Keel’s debut on Solana, Stripe’s Open Issuance, and Cloudflare’s NET dollar. Thanks for tuning in! -- Katana directs chain revenue back to DeFi users for consistently higher yields. It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags: https://app.katana.network/?utm_source=BW-Pod   -- Crypto’s premiere institutional conference returns to London in October 2025. Use code BELL100 for £100 off at checkout: https://blockworks.co/event/digital-asset-summit-2025-london -- Follow Michael: https://twitter.com/im_manderson Follow Vance: https://twitter.com/pythianism Follow Mike: https://twitter.com/MikeIppolito_ Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx -- Timestamps: (0:00) Introduction (3:01) Bitcoin Seasonality (10:13) Capital Flows in Crypto vs AI (27:27) Katana Ad (27:56) Flying Tulip's Seed Round (36:50) Keel's Debut (46:02) Katana Ad (46:40) Stripe's Open Issuance (54:01) Cloudflare Introduces NET Dollar -- Disclaimer: Nothing said on Bell Curve 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. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.
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About Bell Curve

Bell Curve breaks down the most important themes in crypto for people who, like us, are confined to the middle of the bell curve. Each season explores a different thesis that we'll test and refine through debate with crypto's best. If you're a crypto native, degen or investooor, this podcast is for you. Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ Join the Bell Curve Telegram group: https://t.me/+nzyxAvQ0Xxc3YTEx
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