1000x

Avi sits down with Arthur Hayes at Token2049 in Singapore — the co-founder of BitMEX, the man who invented the perpetual swap, and now the founder of FLOP Network.Arthur traces the whole arc: growing up in Buffalo with parents who worked for General Motors, reading a book in high school that convinced him to learn Chinese and move to Asia, and starting his first day on a trading desk the morning Lehman Brothers failed. Then getting fired from Citibank in 2013, finding Bitcoin, and building the exchange that would go on to invent the product every venue in crypto now runs on — including why the first version of the perp failed, and what the funding rate was actually designed to fix.Then the hard part: why shutting BitMEX down was a relief, what it does to you to be the bearer of billions in customer assets, and what happens to the insurance fund.Arthur argues the AI buildout is a global misallocation of capital — that none of the frontier labs make money, that the unit economics get worse rather than better as data centers get more expensive and compute gets cheaper, and that he puts 75% odds on the labs needing a government bailout to honor their compute commitments. Which, in his view, is the most bullish thing in the world for crypto.Plus: why both political parties always print, why China can’t assign its losses either, Zcash and the privacy narrative, and the case for a cryptocurrency pegged directly to compute and designed for AI agents rather than people.--Follow Arthur: https://x.com/CryptoHayesFollow Avi: https://x.com/AviFelmanFollow Jonah: https://x.com/jvb_xyzFollow 1000x: https://x.com/1000xPodJoin the 1000x Telegram: https://t.me/thousandxpodTry the 1000x Terminal: https://1000x.money--Timestamps:00:00 Coming Up on 1000x...00:39 Buffalo, General Motors, And The Book That Sent Him To Asia04:29 His First Day On The Desk Was The Day Lehman Failed09:14 Building BitMEX, And The 100x Leverage Unlock15:26 Inventing The Perp18:57 Shutting Down BitMEX, And The 30,000 BTC Question26:16 “We’re Wasting Trillions On AI”29:22 Why The Bailout Is Inevitable40:47 FLOP: A Currency For AI Agents--Disclaimer: Nothing said on 1000x 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. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.

Avi Felman sits down with Bryan Pellegrino, co-founder and CEO of LayerZero Labs, to talk about what happens when the largest institutions in finance start building on crypto rails.Bryan traces LayerZero's path from an MEV shop and a shockingly bad bridge to a protocol that has moved over $300 billion lifetime across roughly 170 chains, with $150 billion in assets built on top and $10–15 billion moving every month. Then he gets into what's next: ZERO, a ZK-first chain built from the ground up at multiple millions of transactions per second, and Atlas, a trading environment with roughly 10-millisecond block times that folds settlement, clearing, matching and credit into a single stack — with DTCC, ICE and Citadel among the announced partners, and four to five of the world's largest exchanges already live on testnet.They also cover the standards war LayerZero won, why a meaningful chain still rolls back every three to four months, DTCC's mandate to tokenize $100 trillion in assets, the fee switch, and how 75% of Atlas trading fees flow into buying and burning ZERO.Plus: dropping out of computer science to play poker professionally, losing his career overnight to the 2011 online poker ban, and selling machine learning models to Billy Beane.--Follow Bryan: https://x.com/PrimordialAAFollow Avi: https://x.com/AviFelmanFollow Jonah: https://x.com/jvb_xyzFollow 1000x: https://x.com/1000xPodJoin the 1000x Telegram: https://t.me/thousandxpodTry the 1000x Terminal: https://1000x.money--Timestamps:(00:00) Coming Up on 1000x...(01:32) Poker, Bitcoin, And Selling Models To Billy Beane(07:19) MEV, Broken Bridges, And Building LayerZero(16:37 Winning The Standards War: Tether, PayPal, Ondo(26:51) When Chains Roll Back(30:54) Two Million Transactions Per Second(36:07) Atlas, And TradFi's $100M Checks(44:53) The Fee Switch, And Burning ZERO(48:30) Tokenizing $100 Trillion--Disclaimer: Nothing said on 1000x 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. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.

This week, with Meta, Bitcoin, crude and the broader economy all ripping, we ask how long it can last? We discuss why diamond prices are collapsing. Jonah explains the anatomy of a bad commodity and why you should always trade demand squeezes rather than supply squeezes, why copper just hit all-time highs, and why higher rates are counterintuitively bullish for Bitcoin and gold. We get into Meta's Muse assistant finally making AI useful for normal people, why AI agents may be what actually saves crypto, the chart showing artificial intelligence depreciating faster than any frontier technology in history, why real estate is getting torpedoed while luxury demand goes vertical, the barbell economy and the vanishing middle class, and Avi's case that income inequality is a fake issue. Enjoy!--Follow Avi: https://x.com/AviFelmanFollow Jonah: https://x.com/jvb_xyzFollow 1000x: https://x.com/1000xPodJoin the 1000x Telegram: https://t.me/thousandxpodTry the 1000x Terminal: https://1000x.money--Timestamps:(00:00) Coming Up on 1000x...(03:02) Diamonds Are Collapsing (And Might Become Chips)(13:28) The Anatomy Of A Bad Commodity(17:35) Why Higher Rates Are Bullish For Bitcoin(26:09) AI Will Save Crypto(28:23) The Most Bullish Chart We've Ever Seen(33:30) Real Estate Is Getting Torpedoed(39:14) Barbell America & The Vanishing Middle(43:37) "Income Inequality Is A Fake Issue"--Disclaimer: Nothing said on 1000x 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. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.#Bitcoin #Meta #StockMarket #Crypto #META #Stocks #Oil #AI #Macro #Trading #1000xPodcast #Investing #Fed #BTC #MetaConnect

This week, we break down the biggest story in markets: the blowup of Leopold Aschenbrenner's Situational Awareness fund. We discuss whether Ken Griffin killed him or just showed up with the best bid, how an eleven-figure liquidation actually works behind the scenes, why going to the street to meet a margin call is like walking into a lion's den (and the Terra Luna call that proved it), whether the rate-hike comments were an orchestrated hit, why Avi is stepping into the memory dip now with Micron, Intel and SanDisk, the Korean "Squid Game" liquidation that wiped out millions of accounts, the real lesson of being dead right and broke, and the great Mag 7 split — why Apple, Google, and Meta are all underperforming for completely different reasons while Amazon keeps printing. Enjoy!--Follow Avi: https://x.com/AviFelmanFollow Jonah: https://x.com/jvb_xyzFollow 1000x: https://x.com/1000xPodJoin the 1000x Telegram: https://t.me/thousandxpodTry the 1000x Terminal: https://1000x.money--Timestamps:(00:00) Coming Up on 1000x...(00:32) Did Ken Griffin Kill Leopold Aschenbrenner?(03:30) How An 11-Figure Liquidation Actually Works(9:32) Amateur Hour: Why He Broke The Cardinal Rules(18:39) Walking Into The Lion's Den (And The Luna Parallel)(25:48) Was It An Orchestrated Hit?(30:42) Why Avi Is Buying The Memory Dip Now(36:17) The Real Lesson: Being Dead Right And Broke(42:56) Atoms Over Bits: The Mag 7 Split & What's Next--Disclaimer: Nothing said on 1000x 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. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.

This week, with memory stocks down 30-40% from the highs, we ask whether memory has bottomed. We discuss why AI bailed out the everything bubble and why this bubble is different, the George Soros model of why a bubble comes back bigger the second time, why only 2.2% of US households pay for AI and why that means we're in inning one, the $26 billion Korean margin-call wipeout and what it tells you about sentiment, why nobody wins the US-China AI arms race except the components makers, the Saudi nuclear deal and looking where nobody else is looking, why the latest Iran escalation won't derail markets, and why gold looks phenomenal here while crypto may have finally bottomed. Enjoy!--Follow Avi: https://x.com/AviFelmanFollow Jonah: https://x.com/jvb_xyzFollow 1000x: https://x.com/1000xPodJoin the 1000x Telegram: https://t.me/thousandxpodTry the 1000x Terminal: https://1000x.money--Timestamps:(00:00) Coming Up on 1000x...(00:32) Save Everything In Your 20s: The Bleecker Street Lesson(07:01) How AI Bailed Out The Everything Bubble(10:15) Has Memory Bottomed?(13:51) Only 2.2% Pay For AI: We're In Inning One(19:36) $26B Wiped Out: The Korea Margin-Call Warning(23:42) The US-China Model Arms Race (And How To Trade It)(28:26) Bombing Iran Again: Why Markets Don't Care(42:02) Gold Looks Phenomenal & Crypto May Have Bottomed--Disclaimer: Nothing said on 1000x 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. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.