In this episode we discuss SpaceX’s IPO and its potential effects on equity and crypto markets, including Bitcoin performance, ETF flows, valuation metrics, and mining trends. We also cover Ethena’s evolving yield strategy, reserve diversification, institutional lending, token value accrual, and the implications of its partnership with Coinbase.

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As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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Timestamps:

(0:00) Introduction

(4:12) SpaceX IPO Markets

(9:09) Bitcoin Decouples From Equities

(15:36) Bitcoin Bottom Signals

(24:18) Miners Shift to AI

(25:59) Ethena’s New Strategy

(31:50) Ethena Becomes an Asset Manager

(35:24) Scalable Yield Sources

(41:06) ENA Token Value

(47:25) Coinbase Distribution Bull Case

(51:33) Closing Comments

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Disclaimer: Nothing said on 0xResearch 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. Luke, Danny, and our guests may hold positions in the companies, funds, or projects discussed.