The House View

In this episode of The House View, FalconX CEO Raghu Yarlagadda sits down with Tom Lee, Chairman of Bitmine Immersion Technologies (BMNR), to discuss the macro backdrop shaping digital assets and why crypto may be entering its next phase of growth. Tom shares why he believes the current environment is more constructive than investors expect — from the resilience of the U.S. economy to signs that key risk factors may have peaked. The conversation then turns to crypto, where Tom outlines his “crypto spring” thesis, the role of tokenization and AI in driving the next cycle, and why Ethereum is emerging as a foundational settlement layer for onchain activity. He also discusses Bitcoin’s role as digital gold, Bitmine’s strategy to build a meaningful position in ETH, and how institutions are adapting to a 24/7, globally interconnected market.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io. 

In this episode of The House View, Martin Gaspar, Senior Crypto Market Strategist at FalconX, sits down with Eliézer Ndinga, Global Head of Research at 21shares, to unpack the latest structural shifts in crypto markets: the move toward independence from traditional risk assets.The conversation explores how crypto is increasingly decoupling from traditional risk assets amid geopolitical tension, what’s driving renewed ETF and ETP inflows globally, and how institutional demand is being expressed through new access vehicles.They also dive into Ethereum’s recent outperformance, the rapid growth of stablecoins and tokenized assets, and how platforms like Hyperliquid are expanding crypto into a global, 24/7 trading layer across both digital and real-world assets.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io. 

In this episode of The House View, Colin Farrell, Senior Manager of Institutional Coverage, sits down with Griffin Sears, Head of Derivatives, to unpack how market structure is evolving in an always-on world.The conversation explores how geopolitical volatility is accelerating the need for 24/7 liquidity, how institutional investors are using Bitcoin options as a weekend macro hedge, and how prediction markets are being used as signal rather than execution. They also discuss the surge in weekend trading activity, the role of venues like Hyperliquid in expanding access to continuous markets, and how traders are positioning through uncertainty with elevated volatility, persistent put skew, and increased demand for hedging instruments.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io.

In this episode of The House View, Craig Birchall, Head of Credit at FalconX, sits down with Anthony DeMartino, CEO & Co-Founder of Sentora, to unpack how crypto credit markets are evolving in the aftermath of the October 10 dislocation.The conversation explores why transparency has become non-negotiable for onchain credit, how real-world assets (RWAs) need to be redesigned - not just tokenized - to work in DeFi, and what’s holding back institutional adoption.They also discuss why onchain yields have compressed, the risks embedded in duration and leverage, and how new structures like barbell strategies could define the next phase of onchain credit.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io.

Markets may close on Friday, but the world doesn’t.In this episode of The House View, Colin Farrell, Senior Manager of Institutional Coverage at FalconX, sits down with Sebastian Cohen, Head of Spot Trading, to break down what the FalconX trading desk is seeing as volatility returns to crypto markets.The conversation explores how geopolitical developments are driving activity back into markets, why Bitcoin is leading the latest rally, and where institutional clients are positioning across majors and select DeFi tokens.The conversation also examines why platforms like Hyperliquid are gaining traction as traders increasingly demand 24/7 access to global markets.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io. 

Energy infrastructure is becoming the binding constraint of the AI era – and legacy grids were never designed for 24/7 compute demand.In this episode of The House View, Brandon Cigri, Head of Onchain Ecosystems at FalconX, sits down with Sean Murray, Head of Special Projects at Fuse Energy, to unpack how modern energy markets actually function – and why coordination, not generation, is the true bottleneck.Tune in for a deep dive into volatility, infrastructure, and the emerging intersection between crypto-native coordination and real-world energy systems.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX. Past performance is not indicative of future results. Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io. 

Institutional crypto activity in APAC looks fundamentally different from the US and Europe –  and derivatives sit at the center of that divergence.In this episode of The House View, Ivan Lim, Senior Derivatives Trader at FalconX, is joined by Sean McNulty, APAC Derivatives Trading Lead, to unpack how APAC institutions deploy crypto derivatives through outcome-based, yield-focused structures rather than outright directional bets. The conversation explores why accumulators, covered calls, and structured products dominate regional flows, how this behavior systematically softens implied volatility during Asia trading hours, and what recent onchain and DEX activity signals about the durability of institutional risk transfer during market stress.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX.  Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. "FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io.

As crypto and traditional markets continue to converge, liquidity, not narratives, remains the defining force. In this episode of The House View, FalconX’s Josh Lim, Global Co-head of Markets, sits down with Sam Gaer, CIO of Monarq Asset Management, to discuss the macro and structural dynamics shaping digital asset markets today.From the growing divergence between gold and Bitcoin, to regulatory uncertainty surrounding the Clarity Act, Sam explains why institutions remain cautious – and why Bitcoin ultimately trades on the price of money and global liquidity. The conversation also dives into Monarq’s investment theses, including high-conviction views on Hyperliquid, the evolution of altcoins, and why Canton Networks may be foundational to 24/7 onchain clearing across capital markets.Disclaimer: This podcast is provided for informational purposes only and should not be relied on or considered to be (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX.  Information contained in this podcast is not and should not be regarded as investment advice, investment research, debt research, or derivatives research for the purposes of the rules of the US Commodity Futures Trading Commission or any other relevant regulatory body.  FalconX and any podcast participants  may hold positions in assets discussed, which may change without notice.  All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinion of FalconX.  Investing in digital assets and derivatives involves significant risks, including loss of capital. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction."FalconX" is a marketing name for FalconX Limited and its affiliates.For more information, please visit falconx.io.

The year is off to an exciting start for crypto and broader markets. In this episode of The House View, Griffin Sears (Head of Derivatives) sits down with Ravi Doshi (Global Co-Head of Markets) to unpack the forces shaping early 2026. From the Clarity Act and institutional inflows into BTC ETFs, to shifts in volatility and derivatives activity, the pair discusses how regulation and market structure developments are setting the stage for a pivotal year in digital assets.

Institutional sentiment is shifting as markets head into year-end. While clients remain short-term cautious, conviction in BTC – and in several key 2026 catalysts – is strengthening. From a brighter macro outlook, to a more accommodative regulatory environment, to the next wave of institutional market structure, 2026 is shaping up to be a pivotal year for digital assets.In this episode of The House View, Colin Farrell (Senior Manager, Institutional Coverage) sits down with Josh Barkhordar (Head of Sales) to unpack what clients are thinking – and how they’re positioning next. They cover everything from range-bound majors and fading alt sentiment, to the rise of privacy coins, DAT consolidation, stablecoin legislation, and the growing overlap between crypto and prediction markets.

A sharp turn in macro over the past two weeks has reshaped risk sentiment across digital assets. With a December rate cut now priced out, equities under pressure, and over $1B in liquidations hitting the crypto market, traders are reassessing positioning heading into a heavy data week.Colin Farrell (Senior Manager, Institutional Coverage) sits down with Griffin Sears (Head of Derivatives) to break down what’s driving the turbulence: from shifting expectations around Fed policy, to momentum-driven flows, to the rise in downside hedging among institutional clients.

Following the Fed’s latest meeting, crypto markets have entered a period of low conviction – with traders rotating into safer assets and volumes pulling back from recent highs.Colin Farrell (Senior Manager, Institutional Coverage) sits down with Griffin Sears (Head of Derivatives) to unpack what’s driving this “flight to safety,” how macro uncertainty is shaping digital asset positioning, and where short-term catalysts could reignite momentum.From shifts in perpetual funding rates and spot-to-futures basis, to the return of stablecoin dominance and selective institutional flows, the two break down what’s actually happening beneath the surface – and what signals they’re watching next.

October 10th, 2025, marked a seismic moment for digital assets – the largest liquidation event in the history of crypto. Nearly $20B in positions were wiped out in hours, sending shockwaves across majors and alts alike.Colin Farrell (Senior Manager, Institutional Coverage) sits down with Griffin Sears (Head of Derivatives) to unpack what actually happened on “Crypto’s Black Friday” – and what it means for traders, funds, and the broader market structure going forward.From cascading liquidations and leverage loops to the resilience of institutional buy-the-dip flows, the two explore why this wasn’t just another flash crash – and how it could reshape risk management across exchanges, OTC desks, and traditional venues.

Digital Asset Treasuries (DATs) are evolving – fast. Colin Farrell (Senior Manager, Institutional Coverage) is joined by Ravi Doshi (Global Co-Head of Markets) to break down what’s driving the next phase of the DAT trade: from BTC and ETH to SOL and long-tail altcoins. The pair explores why some treasuries are still outperforming despite broader mNAV compression, how options markets can supercharge liquidity, and why the next frontier may be M&A as NAV discounts widen.

The Fed delivered a 25bp cut and unveiled a new mantra - “risk management.” But what does that really mean for markets? In this episode of The House View, Colin Farrell sits down with Matt Sheffield to unpack Powell’s latest move, the dot plot confusion, and how rate cuts may ripple into crypto. They dive into:Why the Fed cut despite data not demanding itHow “risk management” could shape policy narratives aheadThe link between consumer strength, mortgages, and crypto flowsWhy this wasn’t the market jolt traders hoped for - but why buyers still showed upWhether cuts set the stage for a late-year rally

Colin Farrell – Senior Manager of Institutional Coverage – and Matt Sheffield – Head of Spot Trading –  return to unpack a crypto market split right down the middle. Post-Labor Day exhaustion has traders divided: some are hedging downside and taking profits on older alts, while others are piling into Solana, Hyperliquid, and tokens tied to upcoming ETFs and treasury inflows. The pair also discusses why VCs are selling as TradFi players step in to buy, and how macro catalysts like payrolls and the Fed’s September meeting could set up a surprise rally if expectations prove too bearish.

Josh Lim joins Matt from the FalconX trading desk to unpack crypto market's cautious positioning ahead of Powell's Jackson Hole speech.With markets pricing in an 85% chance of September rate cuts, traders are derisking with put spreads and rotating out of large-cap names while eyeing treasury-backed alts ahead of Q4. Josh explains why crypto now moves with macro liquidity cycles - and why history suggests an October setup could spark the next altcoin rally.

ETH has surged 44% over 60 days - far outpacing Bitcoin's 10%. Matt Sheffield, Head of Spot Trading at FalconX, breaks down the key drivers: digital asset treasuries accumulating billions, record $5.4B in ETF inflows during July, and growing regulatory clarity. Is ETH gaining sustainable momentum, or just another crypto narrative cycle?

Live from the FalconX trading floor: Introducing Trader Takes, our new bi-weekly podcast breaking down what moved markets this week in 10 minutes. In this first episode, Matthew Sheffield, Head of Spot Trading, & Colin Farrell, Senior Manager, Institutional Coverage, unpack how PIPEs and SPACs are reshaping institutional crypto access beyond ETFs, and why these "permanent capital vehicles" are creating constant buying pressure.