Ram says the entire market is now one giant AI trade. Chris argues the boom is backed by real fundamentals. Austin asks: is AI creating value for the right companies?
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If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on <a href="https://podcasts.apple.com/us/podcast/bits-bips/id1827931786">⁠⁠⁠⁠⁠Apple Podcasts⁠⁠⁠⁠⁠</a>, <a href="https://www.youtube.com/channel/UCuKiSkbYrUOOEEiYQEVPniQ">⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠</a>, <a href="https://open.spotify.com/show/6aSBMrOyi33aVDCULJ9mjN?si=NTLk-jl5QGeytA6-2kxMVQ&nd=1&dlsi=42f0b13dd53c4ba0">⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠</a>, <a href="https://x.com/bitsandbips">⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠</a>, <a href="https://unchainedcrypto.com/bitsandbips/">⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠</a> and wherever you get your podcasts. 
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Circle just made history as the first publicly traded company to run a token presale, raising $222 million from BlackRock, Apollo, ICE, and a16z at a $3 billion valuation — and the stock went up.
At the same time, Coinbase reported a $394 million loss, cut 700 jobs, and suffered a five-hour outage. 
Ram, Austin, and Chris work through what's really happening: whether Circle's Arc is the institutional payment rail the industry has been waiting for or a financial engineering play, whether Coinbase's troubles are cyclical or structural, and whether the AI-driven market rally is a bubble forming or a fundamental shift that makes the dotcom comparison wrong.

Hosts:
<ul>
 <li>
<a href="https://x.com/ramahluwalia">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>Austin Campbell (@austincampbell) — Founder, Zero Knowledge Consulting; Adjunct Professor, NYU Stern
</li>
 <li>
<a href="https://x.com/ramahluwalia">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ram Ahluwalia⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, Co-Host, CEO of Lumida
</li>
 <li>
<a href="https://x.com/perkinscr97">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chris Perkins⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, Co-Host, CEO of 250 Digital Asset Management
</li>
</ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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