SOL is up 19% on the week leading up to Trump’s inauguration

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With his inauguration days away, let’s review some of his vows regarding tariffs and SEC guidance
Canary CEO Steven McClurg has “a high level of confidence” there’ll be more spot crypto ETFs in the US market this year
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Ethereum’s scaling improvements are progressing as testnets approach, while Danny Ryan’s EF leadership candidacy gains momentum
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Coinbase’s Max Branzburg said that the offering is just the start of bringing Coinbase onchain

Key metrics

ETH/BTC Ratio

Ethereum Gas Price

DeFi TVL

Fear and Greed Index

Federal Reserve Balance Sheet

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The XRP roundtrip has come to an end after seven years
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Research

The L2 ecosystem has evolved into a complex landscape, with over $17B in market value and $50B in secured assets. While traditionally seen as high-beta plays on Ethereum, no L2 token achieved a beta higher than 1.0 relative to ETH in 2024. Furthermore, token dilution significantly impacted the sector, with a 1% increase in circulating supply corresponding to a 1.4% decrease in returns.

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Tribe Capital’s Evan Park explains why he’s focusing on DePINs and what he’s looking for specifically when being pitched

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The “main reason most validators aren’t running [Frankendancer] yet is because it doesn’t capture MEV efficiently,” a source told us

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Two Solana DePIN projects are teaming up to take on big telecom

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Haynes Boone’s Arie Heijkoop suggests the decision may help force regulatory clarity around crypto

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On tap for hearings today are Trump’s picks for attorney general and CIA director, among others

events

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.
0xResearch

0xResearch is the show for those who want to step up their game and think like a crypto analyst. We bring on crypto's best to uncover the latest research, explore protocol developments and identify new narratives. We are full-time crypto analysts who read white papers, governance forums and research pieces for fun (normal, right?). Join us as we combine crypto's top talent with our countless hours of research to create the best content in the space. 

1000x

1000x is a crypto markets podcast hosted by professional traders Avi Felman and Jonah Van Bourg. We bring on experts to dive deep into the macro and micro factors that represent the lifeblood of digital money and web3. As an increasing share of economic activity and attention migrates online, tokenomics and price action is increasingly relevant to everyone. If you’re interested in the future of markets and crypto, this show is for you.

Bell Curve

Bell Curve breaks down the most important themes in crypto for people who, like us, are confined to the middle of the bell curve. Each season explores a different thesis that we'll test and refine through debate with crypto's best. If you're a crypto native, degen or investooor, this podcast is for you.

Empire

Empire features interviews with top crypto founders to get the real stories that aren’t shared elsewhere. Empire is your look behind the curtain of the crypto industry.

We release two episodes per week: guest interviews on Monday and a weekly roundup on Friday.

Expansion

The podcast on Modular. Exploring a refreshed vision for building in crypto.


Expansion is a podcast exploring the intersection of modular blockchain design and abundant blockspace.

We’ll bring on the leading voices from the modular ecosystem to discuss blockchain design, specialization, applications, and the possibilities that cheap, secure blockspace unlocks.

Forward Guidance

The laws of macro investing are being re-written, and investors who fail to adapt to the rapidly changing monetary environment will struggle to keep pace. Felix Jauvin interviews the brightest minds in finance about which asset classes they think will thrive in the financial future that they envision.

Lightspeed

Lightspeed is a podcast for those interested in how crypto can solve real problems and create products users love. It's a callback to the garage days of Silicon Valley, where builders pushed the limits of hardware and software to build world-changing products. We interview the projects and founders that will make this same impact today.

On The Margin

The worlds of macro finance and crypto are continuing to draw closer together. On the Margin will host some of the greatest minds in the world of asset management, markets, and discuss how ideas that were once on the margin are now becoming mainstream.

On The Other Side

Exploring the intersection of society, culture, and crypto.

The Breakdown

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks.

1000x
1000x is a crypto markets podcast hosted by professional traders Avi Felman and Jonah Van Bourg. We bring on experts to dive deep into the macro and micro factors that represent the lifeblood of digital money and web3. As an increasing share of economic activity and attention migrates online, tokenomics and price action is increasingly relevant to everyone. If you’re interested in the future of markets and crypto, this show is for you.
Hivemind
Hivemind combines Delphi Digital’s brightest minds to cut through the crypto noise. Jose, Yan, Ceteris and Duncan explore everything from venture to token design, offering an unfiltered perspective on what shapes the industry. We cut through the hype to focus on critical research and real insights. If you want to understand real crypto drivers, this is your podcast.
L2s in a Portfolio

Blockworks Research

The L2 ecosystem has evolved into a complex landscape, with over $17B in market value and $50B in secured assets. While traditionally seen as high-beta plays on Ethereum, no L2 token achieved a beta higher than 1.0 relative to ETH in 2024. Furthermore, token dilution significantly impacted the sector, with a 1% increase in circulating supply corresponding to a 1.4% decrease in returns.
by Marc-Thomas Arjoon, CFA /
Zeta X: Reimagining Perps Trading

Blockworks Research

The Zeta core team is building Bullet, an ultra-low latency rollup for high-frequency trading (HFT) that will serve as the infrastructure for the next generation of the perps DEX, Zeta X, with an expected mainnet launch in Q1 2025. With Bullet and Zeta X, the Zeta team aims to overcome the technical limitations it has faced on the Solana L1. Architecturally, Zeta X will be more similar to Hyperliquid than Jupiter and Drift. We believe ZEX offers an attractive small-cap bet with significant upside, but with several execution risks.
by Carlos Gonzalez Campo /
Polygon Protocol Governance Call (PPGC) #28

Blockworks Research

This months PPGC covered three main areas. Firstly, an upgrade from using Tendermint to CometBFT and the new CosmosSDK. Second, a Post-Mortem of the  Polygon PoS Bridge Liquidity Program Pre-PIP. Lastly, system upgrades involving PIP-53 & PIP-54.
by Nikhil Chat /
Grass: Crowdsourced Data for AI

Blockworks Research

Grass is a decentralized web scraping and data provisioning protocol.
by Daniel Shapiro /