Podcast: How To Survive A Bear Market | Olaf Carlson-Wee

Olaf Carlson-Wee discusses the market crash, what’s next and his crypto investment thesis

article-image
share

On today’s episode of Empire, Olaf Carlson-Wee, Coinbase’s first employee and founder of Polychain, joins Jason and Santiago to discuss his views on the state of crypto.

Olaf Carlson-Wee reflects on crypto’s cycles and reoccurring themes and how they relates to the UST meltdown and today’s bear market. We then dive into Olaf’s investment philosophy, exploring his thoughts on the multichain future and what assets will accrue value. You’ll also hear Olaf’s unique take on the “one reason” DAOs should exist.

Don’t miss this fantastic episode with one of the most interesting and successful OGs in crypto.

Plus, hear more on:

  • UST’s fate and algo stablecoins
  • The market outlook
  • Layer-1 vs layer-2 blockchains
  • And so much more!

Check out what they had to say in the video below.👇

About the show

“Empire” is a twice-a-week show where we share the real crypto stories that aren’t heard elsewhere. On Mondays, Jason and Santiago Santos interview crypto industry movers and shakers to talk about their struggles, bold moves and tough decisions. Finish off the week with Friday’s weekly roundup episode that covers the top news and narratives of the week.

For any NPR or Guy Raz fans out there, you can think of “Empire” as a “How I Built This” for the bitcoin and crypto industry.

Subscribe to “Empire” today on Apple or Spotify. Watch episodes on YouTube.


Get the news in your inbox. Explore Blockworks newsletters:

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

Cover Chart.png

Research

The tokenization wave has arrived for trading cards, with protocols like Collector Crypt and Phygitals leading the charge. By tapping into the same dopamine loops that made Pop Mart’s Labubu blind boxes a phenomenon, their gacha mechanics show how TCGs can thrive in a crypto-native setting. Yet with razor-thin margins, limited product differentiation, and hype-driven cycles, building a lasting moat is a challenge. In my latest report, I share insights from the Collector Crypt and Phygitals teams on the opportunities and risks shaping onchain TCGs and what comes next for them.

article-image

Our take on durability, valuation, and fundamental catalysts

by Carlos /
article-image

Acquisition of Copium Capital’s strategies strengthens Barter’s offering, but raises questions about solver concentration

article-image

The company says the acquisition strengthens its push to simplify DeFi for consumers

by Blockworks /
article-image

Cboe Futures Exchange aims to introduce long-dated crypto contracts under US regulatory oversight

by Blockworks /
article-image

Client engineers and coordinators earn far less than researchers, despite playing key roles in network stability

article-image

One of the new hires was formerly FTX’s global head of payments