What happens when every market starts trading like crypto?

This week, Santi and Rob examine how leverage, automation, and retail speculation are exporting crypto-style volatility across traditional finance.

They also explore CLARITY’s fading odds, AI fatigue, Robinhood’s onchain expansion, and the battle between public and private tokenization. Enjoy!

TIMESTAMPS:

00:00 Intro

00:58 CLARITY’s Falling Odds

04:54 Everything Trades Like Crypto

08:53 AI Capex and Semiconductor Volatility

12:47 The Death of Long-Term Investing

18:19 Why Market-Neutral Funds Win

20:09 Institutional AI Fatigue

24:22 AI’s Token Economics Problem

25:55 peaq Ad

26:41 AI Token Costs and Model Routing

30:37 Robinhood Chain’s Early Traction

34:13 Prediction Markets Eclipse Crypto

38:51 Ethereum L2 Activity Collapses

45:49 Ondo’s Private Chain Bet

52:18 Stablecoin Adoption and Crypto VC

58:55 Content of the Week

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EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.