Podcast: Growth vs. Inflation, Firefighters Pension Buys Bitcoin, FTX Raises $420M

Get your macro fix with Blockworks’ own Mike Ippolito and co-host, Mark Yusko.

by Brianna Beckford /
article-image
share

In the weekly roundup episode of Blockworks’ podcast “On the Margin,” Mike and Mark cover two concepts very deeply: 1) why structural growth is falling and 2) how that impacts inflation.

They spend a lot of time covering Mark’s “Killer D’s” Framework: Demographics, Debt, and Deflation, as well as taking a deep look at falling estimates for GDP growth, and the limits on how much trust can be put into central bankers predictions.

Later, they pick apart some charts (courtesy of Jurrien Trimmer of Fidelity) analyzing the performance of inflation, commodities, and the S&P during periods of economic expansion. They discuss the history of these trends before taking a look at some major stories from this week, including:

  • The launch of the Bitcoin ETF
  • FTX raising $420,690,000 from 69 investors
  • A Houston firefighter’s pension buying Bitcoin and Ether
  • and more!

Watch the full episode below! 👇

“On the Margin” is a two-part show. Once a week, Mike interviews industry experts, and then at the end of the week he is joined by co-host Mark Yusko where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.

Subscribe to “On the Margin” today on Apple or Spotify, or watch episodes on YouTube.

Are you a UK or EU reader that cant get enough investor-focused content on digital assets?Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 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.

recent research

Flashnote Template (41).png

Research

We believe that few tokens at the application layer are diverging more from fundamentals than ZORA. Its fully-diluted P/S sits at 90x, pricing significant growth despite a consistent decline in weekly revenues since late July. We foresee an 80% decrease in protocol net margins due to a recent update to the fee structure that reduces trading fees from 3% to 1%, while boosting creators’ portion of the fee split. ZORA’s supply overhang also represents a near-term headwind, with 45% of ZORA’s supply (4.5B tokens or $350M at current prices) earmarked for the team & investors beginning to unlock on October 23, 2025 (36-month linear vesting schedule).

article-image

Insiders have the best information — markets should be willing to pay for it

article-image

The CFTC-regulated exchange is opening doors to crypto builders and traders through grants, partnerships, and new deposit options

by Blockworks /
article-image

DFS tells banking organizations to integrate blockchain monitoring tools to curb money laundering and sanctions risks

by Blockworks /
article-image

New short and long-term priorities include L1 gas boosts, ZK-EVMs, privacy reads, and a lean, quantum-resistant Ethereum

by Blockworks /
article-image

The new stBTC token redistributes Bitcoin gas fees to users, creating liquid yield without inflation or lockups

by Blockworks /
article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /