Weekly Roundup 07/09/26 (BonkDAO exploit, Choke Point 2.0 extended to audit firms, Kraken v Mazars) (EP.729) – On The Brink with Castle Island

Weekly Roundup 07/09/26 (BonkDAO exploit, Choke Point 2.0 extended to audit firms, Kraken v Mazars) (EP.729) – On The Brink with Castle Island — Transcript

Market views

Bullish

AIINFRA— Bitcoin mining companies have the right infrastructure to pivot to AI data centers, as demonstrated by TeraWulf's $19B contract with Anthropic. Nuclear power could be the optimal energy solution for AI infrastructure if regulatory barriers were removed.
ENTERPRISE_BLOCKCHAIN— Enterprise blockchains are striking back against public blockchains, with projects like Tempo, Canton, and Robinhood Chain gaining traction by solving real problems that public chains can't address, particularly for institutional use cases requiring privacy.

Bearish

MSTR— MicroStrategy's STRC preferreds have created a significant overhang on the company, and there appears to be limited appetite for future issuances. The company's shift from religiously holding Bitcoin to actively managing their balance sheet undermines their core thesis.
DAO— DAO governance is at a low point, as demonstrated by the BonkDAO exploit where someone spent $4.4M to acquire tokens and voted themselves $20M with only 7 of 18,000 members voting. The lack of professional oversight and monitoring makes DAOs vulnerable.
ETH— Ethereum's next major upgrade will take 3-4 years, indicating the network is losing competitiveness on speed and use cases. The perpetual roadmap extensions may be a psychological tactic to keep investors engaged rather than delivering near-term improvements.

Not investment advice.

Mentioned

Market views