Ram and Chris debate whether crypto has lost its wow factor to AI Ram: "In AI, it's almost every week now, and maybe sometimes twice a week, we're now seeing these wow moments take place. We've all had multiple AI wow moments, and more is coming." "With crypto, it's like, where is the wow? There's no wow in the Clarity Act. Where's the wow?" "The wow was all the DeFi novelty that we saw years ago. And I'm not seeing that. The attention markets are moving towards AI." Chris: "If you really look at crypto, the infrastructure, the market structure changes, it's actually not sexy. And by it not being sexy, it's starting to accomplish what it's supposed to be." "The truth is, it's getting implemented now behind the scenes. And if it's functioning correctly, that back-end infrastructure, you don't even wanna think about it." "I bought an asset the other day, and I didn't even think about what chain it was on. Maybe there's some value in it not being sexy, to be honest with you."

1/ Wall Street is bringing Hyperliquid to the US, and HYPE is up 13%. Will any of that American trading actually buy HYPE?

If the AI buildout goes well, it's funded by private credit. If it goes badly, it probably gets bailed out. 🤖 Either way, @intangiblecoins argues, it ends in more money printing, which he says makes the Bitcoin thesis stronger. 💵 https://t.co/jfAcUtJTkF

"None of the people freaking out about AI own Bitcoin." Alex Thorn on why Bitcoin held $80K through the AI panic: hedge funds had already sold, while wealth managers and sovereign funds kept buying. "If we look at Q2, you see Brevan, Millennium, all these macro hedge funds, probably also doing the basis, reducing. Or even exiting completely. Massive reductions by that type of trader." "These are the types of traders that either are multistrat or they're macro based. And they're trading Bitcoin in relation to equities or with a view towards what the broader market is doing." "The biggest gainers and adders of Bitcoin spot ETF exposure in Q2 were Morgan Stanley Wealth Management, Mubadala, and Abu Dhabi, the sovereign wealth funds." "People ask why Bitcoin's been so resilient around 80 while everybody has a wall of worry meltdown about the AI trade the last month. It's not in their inventory to sell because they've already gotten out of the trade." "Meanwhile, wealth management and financial advising, that's not fast movements. Maybe they rebalance on a quarterly basis. That's much longer term capital."

The biggest move of 10+ year dormant coins ever? An 80,000 BTC sale @galaxyhq handled for one OG whale in July 2025. 🐋 @intangiblecoins says that kind of selling is now fading fast. https://t.co/nnkq2Ywi8P

Is Anthropic's Founder Voting Bloc Its Biggest IPO Risk? - Uneasy Money Did Anthropic just try to invent a DAO? 🤔 On Uneasy Money, @kain calls the founder voting bloc in its S-1 "destined to blow up," @austingriffith compares it to every multisig he's dealt with, and @tayvano_ walks through the @KeystoneWallet leak and the @foundationhq mail hack. 🔐 Timestamps: 🎬 00:00 Intro 📋 00:38 Unchained Survey: complete the listener survey at https://t.co/TvOv3OR0KP 🎙️ 01:40 Bits + Bips: search Bits + Bips and subscribe at https://t.co/UWwjmWPOyA 📈 02:08 Anthropic's S-1: how $12B in Q2 revenue stacks up against Google's IPO 🗳️ 10:27 Why Kain thinks Anthropic's 7-founder voting bloc is destined to blow up 🤖 23:24 Austin on why AI answers could become winner-take-all like Google search 🚨 27:41 How AI models started sending bug bounty disputes to SEAL 911 🏦 30:50 Nexo: generate daily interest on your crypto or borrow funds against your assets at https://t.co/AomksPiXwt 🧮 31:32 'AI says ETH is false': why AI chipping away at hard math matters 🎓 46:06 Will kids still go to college? Austin, Tay, and Kain on parenting with AI 🔑 49:52 Are hardware wallets bad again? Keystone's leaked device signing key ☎️ 54:13 Why nobody legit in crypto will ever call you, and Kain's OTC scam story 📧 01:01:17 Foundation's hacked mail system and a phishing site too polished to be real 🧘 01:07:50 Don't panic: Kain's 'personal Lindy' and Tay's case for doing less ⛽ 01:11:12 Austin's 'smooth brain take' on why Glamsterdam was cancelled 🐜 01:18:33 OpenAI's Terra 6.1 and the agent armies battling on https://t.co/Pvp4a4kUqO

Alex Thorn says being bullish on Bitcoin is becoming the contrarian trade as tokenization takes center stage "It's just like my spidey sense. I've watched this happen before. No one owns Bitcoin. Everyone's written it off. Everyone's talking about tokenized money market funds." "That stuff's cool. It's gonna happen. It's gonna make all of our brokerage accounts cheaper and faster. I think it's gonna be an important revolution." "But let's not forget. Satoshi wrote that the root problem with traditional currency is all the trust that's required to make it work, and the central bank has repeatedly breached that trust. He did not write the root problem with traditional currency is that we can't settle our stocks quickly enough." "One of them is a very interesting efficiency and transparency technology revolution. And the other one's a deep revolution, a true revolution. They're gonna happen together. I don't think it's controversial for me to say, let's just not forget about the other one, which is the biggest one." "People have kind of forgotten. They'll unforget. I'm very confident. It'll swing back again. It's just another data point in the idea that actually being bullish and long is the contrarian trade."

Most ventures fail. That's fine, says @3xliquidated. 🏗️ What isn't: "milking the treasury for 5, 6 years and taking a salary." He points to @MetaDAOProject returning money when projects didn't work out. https://t.co/fZFjAtsgHW

Elliptic curves look like the obvious weak point in an AI world. 🎯 @conordeegan sees it the other way: a trillion-dollar honeypot has invited attacks on them since day one, and they've held. The open question is whether AI spots what humans couldn't. https://t.co/hPuFj4JHEG

Austin questions how eMudhra's single-digit private key went unnoticed, when on Ethereum it would have been swept instantly Kain: "They thought that they were running around with, like, an 80 digit number, and it was a single digit number." Taylor: "These eMudhra guys have said that they have no indication that it's been exploited. It seems like a great little thing for, like, the NSA to have in their back pocket, in my opinion." Austin: "If you were to put money in the private key four and put it on Ethereum, it would be gone instantly. Because it's not just like someone's checking. Someone has already checked." "They generated all these addresses, and they're watching them. And as soon as someone puts money in, it's swept." "How has someone not put the number four in as a private key, got the public key out, and just searched the internet for it? How did this not happen?"