
Raoul Pal and Blue Macellari discuss the future of crypto, its challenges, and the impact of AI and institutional adoption on the financial system.
Raoul Pal welcomes Blue Macellari, head of digital assets at T. Rowe Price, to explore why crypto has struggled despite improving fundamentals, and how AI, stablecoins, tokenization, and institutional adoption could reshape the financial system. They also discuss the risks around AI, crypto infrastructure, and what needs to change for on-chain finance to reach mainstream adoption. Recorded August 10, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Timestamps: 00:00 - Why Institutional Crypto Adoption Is Accelerating 02:20 - Blue Macellari’s Journey From Wall Street to Crypto 05:09 - Building a Crypto Fund Through Market Neutral Trading 07:07 - Building T. Rowe Price’s Digital Assets Business 11:35 - What Traditional Finance Learned From the Crypto Crisis…
Host: Raoul Pal
Guest: Blue Macellari
Plus500 US
Organizations: T. Rowe Price
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