Podcast: Anthony Crudele on Crypto as an Inflation Hedge

“Inflated Expectations” explores the macroeconomic drivers of growth and the potential for the crypto-revolutionization of monetary regimes

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Anthony Crudel

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In this episode of Blockworks’ podcast “Inflated Expectations,” Allison Reichel, Economic Strategist, sits down with Anthony Crudele, a 22-year futures veteran, CME member, and host of Futures Radio Show.

They cover the topics of the transition from traditional finance to crypto, the differences between gold and bitcoin, technical analysis as an art, whether or not a true inflation hedge exists, and the current expectations of the Federal Reserve.

Watch the full episode below:

Once a week, Reichel interviews industry experts, exploring the macroeconomic drivers of growth and the potential for the crypto-revolutionization of monetary regimes. 

Reichel is a Washington, D.C., based Economic Strategist, focusing on macroeconomic trends and the shifting crypto environment. In addition to her work at Blockworks, she is a PhD student in Economics, and also holds an M.A. and B.S. in Economics from George Mason University.

Subscribe to “Inflated Expectations” today on Apple or Spotify, or watch episodes on YouTube.

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Compute demand is two-sided, the precondition for any hedging market. Producers (neoclouds and independent data centers) fear their inventory clears below cost. Consumers (inference platforms and the agentic application layer) fear compute will get more expensive. The common read holds that nonfungibility keeps both off any general exchange, since a buyer wants a named SKU in a named region rather than a basket, so the trade stays bilateral and the only exchange users are dealers hedging their book. That describes launch conditions, but understates how commodity markets form. Canonical benchmarks get made through trading, and reservations standardize as the curve deepens. The dealer-intermediated structure is not the end state, it is the seed of one.

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