Empire

CLARITY failed, but SEC and CFTC action could still accelerate onchain markets.

This week, we cover what's next for crypto regulation, debate the many-stablecoin thesis, and dig into Circle launching Arc and the S&P’s push into crypto data and security.

We also discuss broken venture markets, Meta’s AI advantage, and Polymarket’s executive hiring spree. Enjoy!

TIMESTAMPS:

00:00 Intro

03:50 Corporate Stablecoin Debate

13:03 Why The CLARITY Act Failed

16:58 The SEC Opens Tokenized Markets

22:43 Who Wins Tokenized Markets?

29:06 S&P Moves Deeper Into Crypto

37:40 Can Circle Make Arc Work?

46:14 Can AI Startups Survive Meta?

51:26 Polymarket’s War For Talent

57:15 Content Of The Week

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Rob – https://x.com/HadickM

› Santi – https://x.com/santiagoroel

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

RESOURCES

› Slumber Number – https://www.sec.gov/newsroom/speeches-statements/peirce-slumber-number-innovation-exemption-statement-091726

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.

Get your TOKEN2049 tickets and 10% DISCOUNT here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=Empire&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Which tokens are actually worth owning in today’s market?

This week, Yan Liberman shares his six-token portfolio and the framework behind each position.

We dig into productive vs speculative assets, catchup trades and overlooked opportunities, how AI is reshaping crypto venture, what Delphi looks for in founders, and what the ideal portfolio looks like today. Enjoy!

TIMESTAMPS:

00:00 Intro

00:34 Does Crypto’s Rally Have Legs?

05:49 Is AI Outshining Crypto?

10:35 Liquid Tokens Or Venture Bets?

16:17 Ads (Token2049, Avalanche)

17:57 Inside Yan’s Crypto Portfolio

23:25 What Returns Justify Crypto Risk?

29:53 Where Can Crypto Venture Still Win?

37:20 Aerodrome’s Catch-Up Trade

41:16 Why Delphi Backs Emerging Managers

44:42 How Delphi Evaluates Founders

50:29 Stop Trying To Be Clever?

57:53 Is Market Froth Taking Over?

FOLLOW GUEST

› Yan – https://x.com/YanLiberman

› Delphi Ventures – https://x.com/Delphi_Ventures

› Delphi Digital – https://x.com/Delphi_Digital

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Santi – https://x.com/santiagoroel

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.

Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=Empire&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

What happens when memecoin speculation collides with onchain equities?

This week, Jason and Santi unpack why Robinhood’s tokenized stocks may be crypto’s hottest new battleground.

They explore the $BONER–$HIMS squeeze, murky shareholder rights, FOMO’s bull-market signal, and whether Robinhood, Solana, and stablecoin giants become this cycle’s biggest winners. Enjoy!

TIMESTAMPS:

00:00 Intro

01:57 Crypto’s Animal Spirits Return

06:20 Can Memecoins Unlock Tokenized Stocks?

12:42 Ads (TOKEN2049, Avalanche)

14:22 How $BONER Squeezed Tokenized $HIMS

19:21 Robinhood Faces Meme-Equity Backlash

22:21 Are Onchain Equities Crypto’s Future?

28:34 Do Most Fomo Traders Lose Money?

32:01 You Must Enter The Trenches

33:53 How Santi Is Playing This Cycle

36:56 Is Solana Still Years Ahead?

39:29 Will Stablecoins Become An Oligopoly?

42:41 Content Of The Week

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Santi – https://x.com/santiagoroel

› Rob – https://x.com/HadickM

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in. crypto.

Getyour TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=Empire&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

What happens when AI agents become the internet’s dominant users?

This week, Jason sits down with Cloudflare CEO Matthew Prince to explore how AI agents could fundamentally reshape the internet’s business model.

They discuss 1,000x agent traffic, why everything wrong with the world is Google's fault, AI flattening organizations, micropayments at unprecedented scale, and whether AI becomes the new interface to the internet. Enjoy!

TIMESTAMPS:

00:00 Intro

00:45 How The Internet Got Here

05:52 Did Ads Break Society?

10:20 Why AI Labs Fear Google

16:59 What Cloudflare Actually Does

19:56 Ads (Token2049, Avalanche Summit)

21:35 When Cloudflare Went AI-First

27:20 AI Is Flattening Companies

35:39 What Happens To Human Work?

39:18 Why Public Markets Work Better

43:59 Who Pays For The Agent Internet?

54:08 Do Agents Need Blockchains?

01:01:09 What Breaks In The Agent Internet?

01:07:30 Will AI Become The Internet?

FOLLOW GUEST

› Matthew – https://x.com/eastdakota

› Cloudflare – https://www.cloudflare.com/

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.

Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=Empire&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

Can Robinhood turns the crypto trenches into a serious business?

This week, we unpack Robinhood Chain’s explosive growth and what it could mean for tokenized markets, Ethereum, and traditional finance.

We also explore the new meme-stock mechanics, Ethena’s neobank push, Hyperliquid’s U.S. path, and why distribution still captures the most value. Enjoy!

TIMESTAMPS:

00:00 Intro

00:46 Robinhood Chain’s Billion-Dollar Run Rate

05:26 Can Memecoins Move Stocks?

14:14 Why 24/7 Stocks Don’t Scale

20:53 Who Captures Crypto’s Value?

22:01 Ads (Token2049, Avalanche Summit)

23:41 Who Captures Crypto’s Value?

28:12 Ethena’s Neobank Push

32:46 Can Crypto Neobanks Actually Scale?

38:18 Remittances Fight To Own Deposits

47:34 Hyperliquid’s Path Into America

53:41 Prediction Markets And Bitcoin

58:14 Distribution Is Still Crypto’s Moat

01:01:01 Who Brings Stocks Onchain?

01:06:31 Content Of The Week

FOLLOW THE SHOW

› Empire – https://x.com/theempirepod

› Jason – https://x.com/jasonyanowitz

› Santi – https://x.com/santiagoroel

› Rob – https://x.com/HadickM

› Telegram – https://t.me/+CaCYvTOB4Eg1OWJh

› Blockworks – https://x.com/Blockworks

EVENTS

› Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th

https://blockworks.com/events

› TOKEN2049 Singapore is back October 7–8, bringing together 25,000 attendees, 300 speakers, and 500 exhibitors for one of the biggest weeks in crypto.

Get your TOKEN2049 tickets here: https://checkout.token2049.com/events/asia?promo=DASPODCAST10&utm_source=Empire&utm_medium=podcast&utm_campaign=daspodcast&utm_id=DASPODCAST

› Avalanche Summit NYC lands Sept. 16–17. Save 15% with code BLOCKWORKS15: avalanchesummit.com/registration

DISCLAIMER

Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.