Bits + Bips: Why Bitcoin Was Strong Amid the DeepSeek Selloff But a Drop May Be Coming - Ep. 774
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If there's been anything that's caught at DeFi, it's definitely been stable coins. If you're gonna put an ecosystem around that of trading and of banking and of lending and of borrowing, it's gonna be around stable coins. But that is an existential threat to the current banking system, And that's really where the Fed steps up. That's why I said, why is the Fed, approved no charters since Dodd Frank? Because ultimately, at the end of the day, they're protecting the existing incumbents, and they like the system we have. Hi,
everyone. Welcome to Bits and Bips, exploring how crypto and macro collide one business point at a time. I'm your host, James Seyfert, proud by Archmaester, Lord of Bluebird's End, here with Ram Alwalia, Maester of Wealth, leader of Lumida. What's
going on? Noelle
Acheson, high seer and keeper of the Crypto is Macro Now newsletter. Good
day, everyone. We're
here to discuss the latest stories in the world of crypto and macro. Just remember that nothing we say here is investment advice. Please check on chaincrypto.com/bitsandbits for more disclosures. Today, we are also joined by Jim Bianco, the macro oracle of Bianco Research. Jim, why don't you, give us a little bit of a rundown before we dive in on who you are, what you do, and, how you are involved in the, crypto space at all?
Yeah. Thanks, James. Jim Bianco. I am macro president of Bianco Research. Been doing that since the late 19 nineties. I got you know, so I cover mainly a fixed income market, a lot of macro kind of themes for our institutional clients. About a year and a half ago, I started an index called the Bianco Research Total Return Index. It's in the total return fixed income space. My partner, Wisdom Tree, has an ETF that tracks it. WTBN is its, is its symbol. My I came to the macro space through I mean, excuse me. I came to the crypto space through macro around 2017. I first got interested in, Bitcoin
Awesome. Jim back in the day, it was about 2017, it must have been. I had I was working at CoinDesk at the time, and you were the 1st macro analyst that I followed, and I followed many, but especially you. You were the first to start tweeting favorably about DeFi. You were the first to start talking about DeFi. And this was such a shock for all of us deep in the crypto weeds that someone of your reputation and renown was speaking favorably DeFi that we were even wondering maybe his account's been hacked. Maybe it's not really him.
Well, my account has been hacked in the past, and, there is at least one meme coin that somebody hacked my account and tried to, rip people off with. Unfortunately, that was a fail. But, no, I I really you know, I think that I looked at crypto from the disruptive standpoint, kinda like Uber to the taxis or the Internet to newspapers or Amazon to retailing. And I was thinking, crypto is gonna do this to financial services. And so when, you know, DeFi especially DeFi summer in 2020, when it really started to go. And I really started to get into, you know, you know, the weeds with some of the OG
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