Digital Currents

In this episode, we unpack the Federal Reserve's decision to hold interest rates steady, SpaceX's IPO and the dramatic post-listing run, and the company's completed acquisition of AI coding startup Cursor. We also dig into the unprecedented government directive that forced Anthropic to pull its most powerful AI models offline, and what that episode may signal about the growing tension between frontier AI development and national security policy, and Moody's move to bring its credit ratings on-chain to the Solana network. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

In this episode, we examine several developments that may be shaping technology and capital markets. We first discuss recent price action in bitcoin and explore potential factors behind the latest market decline, including futures market positioning and the implications of Strategy's recent decision to sell a small portion of its bitcoin holdings. We turn to SpaceX, reviewing Morningstar's recent valuation analysis, its financial position, and discussions of its potential path toward S&P 500 inclusion following its anticipated IPO. The conversation also covers Ramp's latest $750 million funding round at a reported $44 billion valuation and what it may signal about investor appetite for fintech and enterprise software. Finally, we discuss OpenAI CEO Sam Altman's new game show initiative and its intersection with AI, media, and consumer engagement. Chart of the week: Morning Star's SpaceX Valuation Analysis and Compute Capacity Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

In this episode, we break down reports that OpenAI generated approximately $5.7 billion in Q1 revenue while its rival, Anthropic, targets nearly $11 billion in Q2 revenue and potential cash flow profitability, perhaps signaling a shift to operational scale in generative AI. The discussion also examines recent weakness following bitcoin's rally in May, including reports that Mark Cuban reduced his BTC exposure even as firms like Bitmine continue to accumulate. We also unpack SpaceX aborting its latest space launch while focused on its much-anticipated IPO. Finally, we cover the U.S. government's push into quantum computing through a new $2 billion CHIPS Act and how legacy Web2 leaders are evolving their core products and platform strategies amid growing pressure from AI-driven consumer behavior and evolving internet discovery models. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

In this episode, we welcome back Kieren James-Lubin to explore the evolution of blockchain infrastructure from the earliest days of Ethereum to the emerging world of "HardFi", programmable finance backed by real-world assets. The conversation also includes a special reveal from the team building the financial infrastructure backed by hard assets like gold and silver, offering listeners an early look at the launch of tokenized commodities and an on-chain collateral market. Long before institutional digital asset adoption, the team behind Strato was building Ethereum infrastructure for enterprises, governments, and global industrial organizations, helping launch one of the first Blockchain-as-a-Service offerings with Microsoft Azure and co-founding the Enterprise Ethereum Alliance. For over a decade, they have operated blockchain systems in production environments where reliability, compliance, auditability, and settlement infrastructure mattered. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

In this episode, we dig into the big question likely on everyone's mind: has Bitcoin found its bottom? We kick things off with a recap of BTC's recent drops and the mounting woes facing Strategy, then take a closer look at Michael Burry's latest Bitcoin prediction and what it could mean for the market. From there, we shift to industry moves, including Ledger's potential IPO, Elon Musk's xAI ambitions, and TI's acquisition of Silicon Labs. For the chart of the week, we examine the 50-week exponential moving average and discuss whether long-term Bitcoin holders may be starting to accumulate again. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

This discussion examines recent developments across the deeptech private and public landscape, with a focus on BitGo's recent IPO plans and what it may indicate about the maturation of crypto infrastructure companies. The conversation also explores broader industry themes, including renewed attention on privacy-focused cryptocurrencies, ongoing operational and competitive challenges facing Intel, and a 2025-oriented review of Digital Asset Tokens (DATs) and Real-World Assets (RWAs) under the Chart of the Week. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creekdigital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

In this episode, we discuss recent developments at Groq, including Nvidia's acquisition of certain Groq assets, and consider what this transaction may indicate about evolving priorities in AI infrastructure and compute markets. The conversation also examines how geopolitical dynamics could influence crypto markets, including regulation, capital allocation, and cross-border technology policy. Finally, we explore whether recent market behavior suggests crypto may be moving away from its historical four-year cycle. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creekdigital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.