When Shift Happens Podcast

NBA champion Tristan Thompson breaks down the simple Bitcoin strategy he uses to build long-term wealth, and why he believes in Bitcoin going to $1 million.

He opens up about growing up around government assistance, the memecoin trade where greed cost him most of a seven figure gain, and why so many rich people end up losing it all.

Whether you’re new to crypto or already stacking, this is a rare look at how a pro athlete really thinks about money, risk, and getting rich.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

FOLLOW TRISTAN THOMPSON

• Twitter: https://www.instagram.com/realtristan13/

• LinkedIn: https://x.com/TThompson

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Intro

3:55 What Basketball Taught Tristan About Investing

4:41 Tristan’s Biggest Weakness

6:04 Growing Up With A Chip On His Shoulder

6:52 Why He Switched From Soccer To Basketball

8:58 Life After The NBA

11:20 Why Companies Want Former Athletes

12:46 Partnerships: @KASTxyz @Variational @BitwiseInvest

14:24 Why Sharks Target Athletes’ Money

16:49 Bitcoin To $1 Million?

19:37 Tristan’s Crypto Portfolio Beyond Bitcoin

21:08 His Biggest Miss & Best Investment

23:03 The Real Goal Behind Building Wealth

24:09 What Separates Talented From Great

24:49 Why He’s Betting On AI & Robotics

27:29 What Becomes Scarce When AI Makes Everything Abundant

28:44 Preparing Kids For An AI Future

29:51 Partnerships: @JupiterExchange @Ethena

30:35 Where The Money In AI Actually Goes

33:16 Why Rich People Lose It All

35:02 The Memecoin Trade That Got Away

35:35 Does Tristan Make Money Leverage Trading?

37:39 Tristan’s Thoughts On Zcash

38:03 What He’s Trying To Win Now

39:25 Do Elite Degrees Still Matter?

41:57 If You Don’t Spend It, Someone Else Will

42:46 Closing Thoughts

Dan Tapiero, founder of $1.7 billion digital asset firm 10T Holdings, returns to reveal the boring secrets to getting rich in crypto that actually work, from why he passed on FTX to the selling rule that keeps you from giving it all back.

After 35 years in investing, including working under legends Stan Druckenmiller, Julian Robertson and Steve Cohen, Dan explains why crypto is the easiest place in the world to make money and the hardest place to keep it.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

FOLLOW DAN TAPIERO

• Twitter: https://x.com/DTAPCAP

• LinkedIn: https://www.linkedin.com/in/dan-tapiero-22b41b191/

FOLLOW 50T HOLDINGS

• Twitter: https://x.com/50TFunds

• Website: https://www.50tfunds.com/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Intro

2:05 What Rich People Understand About Money

3:54 Why Dan Isn't On Instagram

5:18 The Biggest Myths About Getting Rich

6:43 Advice That Keeps People Poor

9:49 How FOMO Becomes The Wrecker Of Wealth

15:25 Partnerships: @Variational @BitwiseInvest

16:17 What People Shouldn't Optimize For In Crypto Today

18:20 Mistakes People Make In Their 20s & 30s

20:54 Knowing When To Sell Is A Skill All Should Learn

25:54 Skill vs Patience In Wealth Building

28:54 Why Do People Sell Their Winners Too Early?

30:46 Partnership: @KASTxyz

31:34 Where We're At Within The Crypto Wealth Cycle

37:20 Dan's Thoughts On Zcash's Progress

39:50 The Best Ways To Bet On Assets Going On Chain

43:01 How Bullish Is Dan On NFTs?

45:38 What Smart People In Crypto Get Wrong Today

48:26 Partnerships: @JupiterExchange @Ethena

49:09 Why All Monetary Value Will Go On Chain

51:21 Where Should A 25-Year-Old Spend Their Energy?

52:57 The Secrets To Getting Rich In Crypto

58:04 What Does A Rich Life Look Like For Dan?

59:58 Closing Thoughts

Raoul Pal believes we have roughly four years to build wealth before AI fundamentally changes how the economy works.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH RAOUL👇

Twitter: https://x.com/RaoulGMI

Linkedin: https://www.linkedin.com/in/raoul-pal-real-vision/

Instagram: https://www.instagram.com/raoulgmi

YouTube: @RaoulPalTJM

GET RAOUL PAL’S FREE REPORT AND PREPARE FOR THE NEXT DECADE: https://rvtv.io/3YOZZUe

CONNECT WITH REAL VISION👇

Twitter: https://x.com/RealVision

Website: https://www.instagram.com/realvisiontv

YouTube: @RealVisionPresents

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 - Intro

03:31 - The BANANA ZONE that never happened

04:07 - How To Allocate Better In Crypto

04:52 - How Compounding Actually Works

09:25 - Early vs Wrong: How To Tell

12:54 - The Belief Raoul Totally Reversed

19:01 - Sponsor: Variational, Bitwise

22:12 - The Belief Raoul Wishes Was Wrong

29:46 - How Long Does This Bull Run Last?

34:23 - The Next Obvious Crypto Narrative

36:50 - Is Bitcoin Still Primarily Money?

40:19 - Are We Underestimating AI’s Speed?

50:53 - Sponsor: Kast

51:41 - Will Crypto Ever Be Exciting Again?

59:49 - Is Success Being Smart Or Pain Tolerance?

1:03:27 - KR1: A Raoul Crypto Bet That didn't work

1:11:02 - When will The SUI Thesis Pay Off?

1:13:20 - What Brought Raoul Back To ETH

1:20:24 - Is Zcash A Trade Or A ZODL?

1:21:44 - How Big Can ZEC Get?

1:22:53 - Sponsor: Jupiter, Ethena

1:25:16 - What Is Money For?

1:26:45 - Optimizing For More Than Wealth

1:29:35 - The Most Asked Question To His Palvatar

1:33:31 - The Secret to Raoul's Great Looks

1:35:03 - Looksmaxxing: How Deep Is Raoul In?

1:37:46 - Was Telling Everyone About SUI a Wise Idea?

1:42:53 - Was the 70% SUI Position Sizing Wrong?

1:44:13 - Does Raoul Still Believe In Hold And Do Nothing?

1:44:48 - The One Major Shift Left To Witness

1:48:46 - How Good Is AI Today?

Changpeng Zhao (CZ), founder of Binance, sits down with Kevin live on stage at Bitcoin Asia 2026 in Hong Kong and explains why right now is the best point in history to build wealth in crypto.

He breaks down why $1 million Bitcoin is coming faster than anyone expects, why Bitcoin will overtake gold in the next bull run, the exact crypto allocation he tells governments to hold, and what the biggest AI companies are telling him about launching their own tokens. Where the next decade of crypto is going, from the man who built the biggest exchange in the world.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=102...

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.

https://sui.io/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.

https://www.coinsilium.com

___________

FOLLOW CHANGPENG ZHAO (CZ)👇

Twitter: https://x.com/cz_binance

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

#CryptoNews, #JupiterDEX, #SolanaEcosystem, #DeFiInsights, #DEXAggregator, #CryptoTrading, #Web4, #BlockchainFuture, #TokenEconomics, #CryptoCommunity, #DeFiGrowth, #CryptoAdoption, #FintechRevolution, #CryptoMistakes, #FoundersStory, #CryptoBuilders, #DeFiRevenue, #CryptoVolume, #CryptoCulture, #Web3ToWeb4, #CryptoInnovation, #SolanaDEX, #CryptoProduct, #BlockchainStrategy

0:00 Intro

0:37 Do We Need 25 Years For Bitcoin To Hit $1M

1:36 What’s Needed For This Century To Be Bitcoin Century

3:26 How Tokenization Links To Bitcoin’s Success

5:08 Will Bitcoin Weaken Or Strengthen Governments

8:47 Are Governments Serious About Bitcoin Today

11:14 What Most Governments Aren’t Doing With Bitcoin

12:56 Which Countries Are Doing The Best With Bitcoin

15:36 Will Bitcoin Become More Valuable Than Gold

16:33 Could We Be Wrong About Bitcoin Being Better Than Gold

17:17 How Much Should Countries Go In On Bitcoin

20:37 What’s Driving The Next Bitcoin Cycle

21:49 How AI Agents Will Trade Crypto

25:21 Stablecoins vs Bitcoin’s Future

26:54 What Will CZ Contribute To The Bitcoin Century

Jordi Alexander, founder and CEO of crypto trading firm Selini Capital, explains why retirement is a 20th century dream and why no amount of money will ever be "enough" in a world being rebuilt by AI.

He also shares the skill AI can't replace, where he sees Bitcoin and Zcash heading next, and why health, not wealth, will be the biggest divide of the next 20 years.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH JORDI ALEXANDER

Twitter: https://x.com/gametheorizing

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

00:00 Intro

03:23 How Do You Not Break The Streak?

05:56 Who Are You?

09:24 When Did You Know You'd Made It?

12:15 How Do You Get Into The Inner Circle?

14:23 Are Billionaires Actually Special?

18:55 Early Or Just Wrong On AGI?

24:00 Sponsor: Variational, Bitwise

24:57 How Do You Not Go Crazy?

29:10 When Did Your Intuition Cost You?

31:30 The Skill AI Can't Replace

41:25 Are Book Smarts Dead?

43:03 When To Stop Grinding And Recharge

47:17 How Do You Protect Your Peace Of Mind?

51:03 Is "No Retirement" Bad Advice For Normal People?

54:45 Sponsor: Kast

1:01:13 Are Health Shortcuts Worth It?

1:06:52 Has Your Hourly Rate Changed? 50K For A Coffee

1:09:41 Where Is The Puck Going?

1:16:07 Which Platforms Win?

1:20:18 Is Qiao Wang Serious About Zcash?

1:23:19 Where Could Zcash Be In 2 Years?

1:24:50 What's In Your Macro Portfolio?

1:25:50 Why Nobody Teaches Allocation

1:29:08 Sponsor: Jupiter, Ethena

1:29:48 How Wealth Turns Into Unhappiness

1:34:56 When Does More Money Stop Mattering?

1:36:07 Why Spend Millions To Impress Strangers?

1:40:37 At 90, What Would Make Your Money Worth It?

1:42:47 Health Inequality Vs Wealth Inequality

1:44:10 What To Do When You're Spiraling

1:49:16 Can Normal People Access Psychedelic Therapy?

1:51:15 The One Thing To Remember

1:53:01 Thank You Jordi

Changpeng Zhao (CZ), founder of Binance, opens up on why he's always bullish on Twitter, how a single tweet lined up with Bitcoin's 20% pump right before Trump's crypto speech, and why he believes crypto is still nowhere near saturated with less than 1% global penetration.

He also gets candid about growing up a second-generation immigrant in Canada, surviving the FTX collapse and a Binance hack, and his contrarian take on why the traditional education system is broken.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on stocks, commodities, and more digital assets: https://www.variational.io/

🚀 Jupiter is a leading platform for digital asset trading and the largest of its kind on Solana: https://jup.ag/

💳 KAST lets you manage and spend digital dollars with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🌱 Bitwise Asset Management manages $15B+ across 30+ digital asset investment products - ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar system built on Ethereum's network, offering a digitally-native, non-bank-dependent price-stable digital currency called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated exchange for trading on the outcomes of real-world events: ⁠https://kalshi.com/⁠

___________

FOLLOW CHANGPENG ZHAO (CZ)👇

Twitter: https://x.com/cz_binance

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

#CryptoNews, #JupiterDEX, #SolanaEcosystem, #DeFiInsights, #DEXAggregator, #CryptoTrading, #Web4, #BlockchainFuture, #TokenEconomics, #CryptoCommunity, #DeFiGrowth, #CryptoAdoption, #FintechRevolution, #CryptoMistakes, #FoundersStory, #CryptoBuilders, #DeFiRevenue, #CryptoVolume, #CryptoCulture, #Web3ToWeb4, #CryptoInnovation, #SolanaDEX, #CryptoProduct, #BlockchainStrategy

0:00 Introduction

2:01 Life on the Road

3:33 Who Are You?

4:07 Becoming a Top-20 Billionaire

5:14 Growing Up Poor in Canada

6:45 His Sister's Career

7:35 Avoiding "Third Gen Degenerate"

8:07 Binance's First Day

10:05 Sponsor: Variational & Bitwise

10:58 The Early Team

12:32 What Hardworking Means

13:35 Misconceptions About Binance

14:24 Why Listed Projects Disappoint

16:54 Can Retail Ever Win?

18:58 Origin of the "4" Meme

20:55 Tweeting "4" and Meaning It

21:29 The FTX Tweet, Full Story

25:13 Hardest Period of His Life

26:05 Prison, Not Knowing When

27:48 Did Anyone Disappear?

28:31 Sponsor: Kast

29:18 The Pardon Process

32:20 Pardon: Politics or Justice?

34:32 Advice for Elon

35:44 Bybit Hack: Was Ben Right?

36:42 2019 Hack and the Red Button

41:18 Hyperliquid as a Threat?

45:07 Why Hype Isn't on Binance

46:31 The 10/10 Crash Villain

50:47 Tweeting "4" on the Crash?

51:31 Sponsor: Jupiter & Ethena

52:14 His Crypto Legacy

53:56 Giggle Academy

1:00:56 Can CZ Move the Market?

1:03:30 Outro

Lucas Schuermann is the founder and CEO of Variational, a peer-to-peer derivatives protocol built on Arbitrum. Former Genesis executive, former quant, and someone who went to Columbia at 12 and started a hedge fund at 20.

Today we get into why variational charges zero trading fees, how it's aggregating liquidity from traditional finance to list hundreds of assets on chain, why perps have a funding rate problem most traders don't understand until it costs them, and what happens to old-school brokers once this liquidity actually moves.

___________

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

FOLLOW VARIATIONAL 👇

• Twitter: https://x.com/variational_io

• Linkedin: https://ky.linkedin.com/company/variational

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

Timestamps

0:00 Intro

2:20 Merch, Travel & Being Back in Singapore

5:13 Who Is Lucas Sherman?

5:24 How Lucas Thinks About Building Trust

6:03 Starting College at Age 12

8:26 How Do You Actually Skip That Many Grades?

9:45 Making Friends Six Years Younger Than Everyone Else

10:40 Are You Still a "Weirdo" at 30?

11:40 Starting a Hedge Fund at 20 - "Hubris of the Young"

14:09 From Paper-Reading Group to a Real Fund

16:50 Acquired by Digital Currency Group at 21

18:59 Why Sell the Fund to DCG?

19:54 Sponsors: Variational & Bitwise

20:47 Did You Regret Selling That Early?

21:51 The Money DCG Made Off Their Work

22:38 Starting a Market Making Firm

24:46 Explain Variational Protocol to Your Mom

26:49 Biggest Mistake Building Variational

28:13 The "Holy Sh*t, We Built Something Massive" Moment

29:54 Reason #1: Zero Fees

32:59 How Do You Trust the Price With Only One Market Maker?

34:33 Are Trading Fees a Scam?

35:29 How Much Do Fees Actually Cost Traders?

36:33 Reason #2: Asset Selection & What "Liquidity" Really Means

40:20 Why Hasn't Crypto Solved This Already?

42:39 Where On-Chain Order Books Break at Scale

46:04 Sponsor: KAST

1:07:30 Sponsor: Jupiterexchange & Ethena

Guy Young built Ethena from zero to billions in under two years.

In this conversation, we talk about the one crypto product he believes can reach 100 million users: a yield-bearing dollar in a mobile app.

The goal is for it to feel like a normal fintech app where users don't even know crypto is powering it underneath. Just save, spend, and send to anyone in the world.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more:https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana:https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus -https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more.https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg.https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events :https://kalshi.com/category/crypto

___________

Follow Guy Young

• Twitter: https://x.com/gdog97_

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:37 Which Of Guy’s Plans Didn’t Work Out

5:37 Where Are The Users People Are Trying To Obtain

7:10 What Excited Guy About Crypto

9:20 Differences Between PayPal, Revolut, & Neo Banks

12:43 Partnerships: @Variational @BitwiseInvest

13:36 Revolut vs Stable Coin Neo Banks

15:58 Is Swapping To Neo Banks A 10x Improvement

18:00 Ethena Pay Explained Simply

21:21 Why Another Crypto Neo Bank

23:53 Will A Fight For The Pie Happen With Crypto Banks

25:55 How Ethena Gets Users When It Can Help Everyone

32:47 What Makes Ethena Different

36:51 Ethena’s Cashback System Revealed

38:32 Guy’s Thoughts On How Ethena Reduces Fees

39:39 How Ethena Gets The Best Yield

45:16 Guy’s Opinion On Dealing With FUD

48:35 Why Guy Doesn’t Communicate A Lot

49:29 Partnership: @KASTxyz

50:17 What KPI Is Ethena Looking To Hit In 2026

51:55 The Holy Grail For A Stable Coin Neo Bank

52:31 Partnerships: @JupiterExchange @Ethena

53:14 If Everyone’s Doing The Same Thing, Who Wins

55:23 The Next Big Thing For Ethena After Ethena Pay

56:36 Is Ethena Pay Like USDE

58:04 Closing Thoughts

Trezor's CTO, Tomáš Sušánka, breaks down how AI is changing the scam landscape and why even security experts are getting fooled.

From AI deepfake Microsoft Teams calls to voice cloning and phishing sites that nearly caught the CTO himself, this conversation covers the modern security playbook everyone needs for 2026.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

Follow Tomáš Sušánka

• Twitter: https://x.com/tsusanka

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:07 Does Tomas Like To Talk

4:15 What Does Tomas Do & Why

5:15 How Much Does Bitcoin Matter To Tomas

6:28 Why Should People Still Care About Bitcoin

8:25 Who Is Tomas Sushanka

10:10 Why Humans Are So Bad With Security

12:58 Tomas’s Thoughts On People Downplaying Risk

14:27 How Should One Think About Risk

15:25 Does Intelligence Play A Role In Risk

16:54 Why Do Smart People Fall For Scams

23:39 How Do We Fix This Scam Problem

25:12 Partnerships: @Variational @BitwiseInvest

26:05 Which Security Mistake Would Tomas Remove

28:57 How Tomas Protects His Assets

29:49 What’s The Craziest Hack Tomas Has Seen

31:24 A Security Habit That Makes Tomas Look Crazy

32:27 Why Someone Should Care About Self-Custody

36:05 When Should People Look Into A Hardware Wallet

37:48 A Strategy For Hardware Risk Management

44:16 How Does One Manage The Inheritance Problem

46:29 Should People Keep Assets On An Exchange

47:32 Partnership: @KASTxyz

48:20 What Security Setup Should Kevin’s Grandma Use

50:08 Things To Can Do To Prevent Hacks & Scams

1:01:57 Should People Upgrade Their Trezor Wallets

1:05:28 How Self-Custody Will Evolve & Not Be Archaic

1:08:07 Partnerships: @JupiterExchange @Ethena

1:08:50 The Biggest Problem With Self-Custody

1:09:52 Is Quantum Computing A Worry For Crypto

1:14:48 Who’s Taking Quantum Computing Seriously

1:20:41 Who’s Securing Bitcoin Against Quantum Risk

1:23:58 A Crypto Belief That Tomas Disagrees With

1:26:12 Is There A Future For Digital Identity

1:27:56 Could Self-Custody Become Too Complicated

1:28:42 Dangerous Advice Tomas Had Heard Before

1:29:43 Does AI Make You Safer Or Vulnerable

1:31:25 Closing Thoughts

Jupiter COO, Kash Dhanda, breaks down the real playbook for building wealth in crypto without luck, memecoins, or moonshots.

He explains why we're still in the early majority phase of crypto adoption, why Solana is becoming the everything chain, and why he personally keeps over 50 percent of his portfolio in stablecoins earning yield.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH KASH DHANDA

Twitter:https://x.com/kashdhanda

Twitter: https://x.com/jupiterexchange

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:10 Crypto Middleman Discussion

4:46 Where Crypto Currently Sits Within TradFi

7:59 Who Is Kash Dhanda

9:26 What Was Kash’s Role On SuperTeam

11:42 Why Kevin Became So Bullish On Solana & ZCash

13:02 What Is The Concept Of Infinite Capitalism

16:07 Partnerships: @Variational @BitwiseInvest

19:15 Kash’s Opinion On Memecoins

21:27 Why Even Hold 10% For Random Investing

24:15 How Can People Get Rich In Crypto Without Luck

27:25 The One Way To Compound Wealth In Crypto

28:33 Isn’t Yield Not Worth It For Crypto Investing

31:14 Why Go All In On Stablecoins

40:10 Partnership: @KASTxyz

43:21 Is Solana Rising From The Ashes

47:09 What’s Solana Bad At Toda

51:01 Solana’s Thesis In 2026

52:23 Is SOL Becoming Future-Proof

54:07 What Is Jupiter Today

56:13 Why JUP Token Is Powered By Ethena

57:19 Why Does Jupiter Need A Stable Coin

1:00:05 How JUP Is Able To Give Yield

1:03:20 What Is Jupiter Spend

1:04:58 Partnerships: @JupiterExchange @Ethena

1:05:42 The Advantages Of Using Jupiter Spend

1:07:39 Gum Global Unified Markets Explained Simply

1:10:20 What Other Things Will Gum Help With

1:12:30 Does Solana Doing Well Benefit Jupiter Heavily

1:14:45 Why JUP Didn’t Do Well Last Cycle

1:17:21 The Changes Jupiter Is Making To Stand Out

1:19:23 Should We Be Bullish On JUP Token

1:23:28 One Takeaway From This Conversation

1:24:15 Closing Thoughts

Jordi Visser, macro strategist at 22V Research and former Weiss Multi-Strategy CIO, breaks down why Bitcoin is his hedge against a coming age of AI-driven abundance and why he holds no interest in ever selling.

He also dives into longevity, heart rate variability, and why chasing money and status like buying a house may be the wrong game to play.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH JORDI

Twitter: https://x.com/jvisserlabs

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:10 Was Jordi Happy With His Weekend & Activities

3:49 How Does One Live Until 100 Years Old

4:31 Why Jordi Is Fascinated With Longevity

5:44 What Kills The Habit Of Living Healthy

7:20 Jordi’s Thoughts On Supplements & Meds

9:51 Partnerships: @Variational @BitwiseInvest

12:17 How Distribution Of Wealth Affects Longevity

14:03 Jordi’s Opinion On Peptides & Hormones

17:47 What Is Heart-Rate Variability

21:21 How Can You Track Heart-Rate Variability

25:12 Jordi’s Findings Within The Finance World

29:10 When Jordi Learned The Concept Of Money

31:58 Partnership: @KASTxyz

32:47 What’s The Point Of Making More Mone

38:20 Does Abundance = More Affordable

38:54 Why Would We Still Need To Build Wealth

41:22 How Jordi Became Fascinated With Bitcoin

47:44 Jordi’s Thesis On Bitcoin Explained Simply

50:10 How Much Of Jordi’s Portfolio Is Bitcoin

50:48 Would Jordi Ever Sell His Bitcoin

51:52 Partnerships: @JupiterExchange @Ethena

52:38 How Big Does Bitcoin Get

54:00 Jordi’s Thoughts On “Bitcoin Is Too Expensive”

55:28 Why Have A Channel About Crypto & Not Bitcoin

56:25 Does Jordi Invest In Other Crypto Assets

57:24 Other Scarce Assets Jordi’s Invested In

58:41 Should 20 Year Olds Work Towards Buying A House

1:02:00 The Difference Between Routine & Unique

1:03:57 Why You Should Prioritize Longevity

1:07:02 Closing Thoughts

Scott Melker, host of The Wolf of All Streets, explains why most people chasing quick wins in crypto never make it, and why his own strategy is deliberately boring: mostly Bitcoin, bought on a schedule and left alone.

He also opens up about being a top creditor in the Voyager collapse, his first interview with Michael Saylor, and why he thinks crypto Twitter is actively hurting mainstream adoption.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH RAAGS

Twitter: https://x.com/raagulanpathy

LinkedIn: https://www.linkedin.com/in/raagulanpathy/

Twitter: https://x.com/kastxyz

Website: https://www.kast.xyz/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

1:51 Dressing Up Discussion

2:51 What Helps Scott Stay Optimistic

3:43 Scott’s Thoughts On Failure

4:43 Who Is Scott Melker?

7:00 Why Do DJ’s Go Down The Crypto Rabbit Hole

8:48 What Scott’s Trading Life Was Like

9:56 When Did Scott Go All In On Building In Crypto

11:46 Partnerships: @Variational @BitwiseInvest

12:38 Is Crypto Still Relevant In 2026

16:15 What Scott Invests In

18:50 How Scott’s Opinion On Crypto Gets Influenced

19:58 Scott’s Thoughts On Yield

23:42 How To Improve A Crypto Media Business

26:26 How Scott Stays Excited Even When It’s Boring

28:12 Partnership: @KASTxyz

31:46 Scott’s Advice On Trading Bitcoin

34:17 How Average People Get Rich From Crypto

35:40 A Few Lessons Scott Learned In 2022

38:08 What Other Assets Is Scott Interested In

39:23 Scott’s Most Unexpected But Best Interview

43:06 The Biggest Myth About Investing Debunked

44:13 Partnerships: @JupiterExchange @Ethena

44:57 Scott’s Goal With His Media Company

47:22 What About Scott’s Goal In Life

50:39 Scott’s Learnings From Behind The Scenes

51:59 How Scott Stays Motivated Despite The Bear Market

53:33 Why People Should Be Optimistic About Crypto

57:26 Closing Thought

Raags, founder of Kast, breaks down the massive crypto opportunity he bet his career on, why he scrapped Kast’s token for tokenized equity, and what really happens to your money if a crypto bank collapses.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto

___________

CONNECT WITH RAAGS

Twitter: https://x.com/raagulanpathy

LinkedIn: https://www.linkedin.com/in/raagulanpathy/

Twitter: https://x.com/kastxyz

Website: https://www.kast.xyz/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

1:58 How Raagulan Prioritizes What’s Done At Kast

4:35 Kast Employees Deal With Major Chaos

5:38 Raagulan’s Theory About Hiring For Kast

7:02 Why Firing People Can Be More Difficult

8:35 An Error That Could Kill Kast

9:52 Convincing A Stable Coin Skeptic

12:06 Why Kast Has To Build Different Departments

18:32 Partnerships: @Variational @BitwiseInvest

19:24 Raagulan’s Thoughts On Fees

21:55 Kast’s Best Customer Type

23:53 Something Raagulan Shouldn’t Say Publicly

29:04 Raagulan’s Experience With GLP-Ones

34:05 Kast Is On Track For $100 Million In Revenue

36:55 Why Kast Hasn’t Blown Up Due To Misspending

41:04 Why Is Everyone Trying To Build Neo Banks

42:52 What’s Difficult About Building Neo Banks

49:14 Kast Isn’t A Card Business

50:43 How Kast Is Building Momentum

56:29 Partnerships: @KASTxyz @Trezor

57:33 Kevin’s Thoughts On Kast

58:59 What Does Kast Do With $80 Million

1:01:55 Would Raagulan Consider Selling Equity

1:08:39 Is Your Money Truly Yours When Inside Kast

1:10:49 What Happens To Your Money If Kast Fails

1:17:38 Pros & Cons Between Non & Self Custodial

1:22:42 Partnerships: @JupiterExchange @Ethena

1:23:26 Should The Kast Community Feel Cheated

1:34:13 What’s This Tokenized Stock Based On?

1:35:25 The Hill Raagulan Is Willing To Die On

1:37:59 Is The Worse Behind Us In Crypto

1:42:57 One Thing To Remember From This Conversation

1:45:16 Closing Thoughts

Mert Mumtaz, co-founder and CEO of Helius, breaks down why he sees Solana and Zcash as two of crypto's most undervalued bets heading into 2026, using his "physics and incentives" framework to separate real conviction from trader noise.

He also debunks the recent Zcash security scare, explains why AI is forcing crypto toward "spaceflight-level" security standards, and weighs in on Near's high-upside, low-conviction potential.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

Follow Mert Mumtaz

• Twitter: https://x.com/0xMert_

• Twitter: https://x.com/heliuslabs

• Website: https://www.helius.dev/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

1:57 Coffee, Zyns, & Sleep Discussion

3:26 Is It Better To Work At Night With ADHD

4:05 How Mert Has A Relationship Despite His Schedule

6:45 Mert On Being A Parent

7:30 How Mert Grew On X So Fast

8:51 Partnerships: @Variational @BitwiseInvest

9:44 Mert’s Experience With SOL’s Price Drop

15:48 The Behind The Scenes With Solana

18:22 How Solana’s Future-Proofing Its Ecosystem

25:47 Why Businesses Will Build On Solana

28:05 Why Solana Isn’t Seen As The Obvious Choice

30:38 Partnerships: @KASTxyz @Trezor

31:43 Mert’s Thesis Behind Solana In 2026

36:42 Solana Will Become The Biggest Financial Economy

42:45 The Timeline On Solana’s Changes Going Live

44:23 Is Solana Making Its Comeback?

47:31 Partnerships: @JupiterExchange @Ethena

48:14 The Zcash Drama Explained

55:39 AI’s Advancement Means Crypto Must Evolve

59:24 What Is Zcash’s Potential

1:04:40 How Is NEAR Special Like Solana & Zcash

1:09:32 Closing Thoughts

Tushar Jain, Managing Partner at Multicoin Capital, breaks down why he believes the crypto market has already bottomed and is entering a new turning point, walking through his conviction plays on Solana, Hyperliquid, and Zcash.

He also opens up on Multicoin's biggest shakeup yet: co-founder Kyle Samani's exit from the firm and the industry.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

Follow Tushar Jain

• Twitter: https://x.com/tushar_jain

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 - Intro

1:31 - Who is Tushar Jain

3:44 - Are we at a crypto turning point?

4:57 - Buying into bad news before confirmation

6:24 - Buying vs. selling: which is harder

7:13 - Still bullish on Solana?

9:15 - TradFi issuers and credible neutrality

11:47 - Sponsors: Variational Bitwise

12:39 - How to size two competing bullish bets

14:13 - Category leader vs. "better play"

17:00 - Most obvious trade for 2026: Zcash

19:39 - What Zcash represents

22:27 - Valuing an asset with no revenue

24:18 - Trading framework vs. buy-and-hold

26:40 - Valuing Solana and Hyperliquid

31:45 - Sponsors: Kast, Trezor

32:54 - Timing entries in volatile assets

36:26 - Why Multicoin doesn't trade, only manages

39:25 - The four sources of investing edge

41:14 - Edge examples: Zcash, Hype, Ethena

43:21 - What Ethena represents

45:37 - How much founder quality matters

47:09 - When to take profits

49:50 - Thoughts on Ethereum

51:44 - Kyle leaving Multicoin

53:03 - Sponsors: Jupiter, Ethena

53:46 - Why Tushar is still in crypto

58:26 - Wrap-up and thanks

1:00:37 - Bonus segment intro - Zcash drama + Hyperliquid report

1:00:39 - What happened with the Zcash bug

1:04:13 - Zcash's fix: the Ironwood pool

1:05:50 - How long it took to decide to buy more

1:08:13 - Multicoin's Hyperliquid ($HYPE) report

1:09:55 - Base case: $319 price target, key assumptions

1:15:21 - Is the crypto bottom in?

1:18:11 - Closing thanks

Haseeb Qureshi, Managing Partner at Dragonfly, breaks down the one rule that separates investors who actually get rich from those who don't: staying in the market when everything says to get out.

A former professional poker player turned VC, he shares how he survived 2018 and FTX without selling, and why he defended Ethereum and Solana when nobody else would.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally.

Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

Follow Haseeb Qureshi

• Twitter: https://x.com/hosseeb

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

1:55 Studio & Show Discussion

3:30 How Hasseb Feels In Life

4:51 Why All The Og’s Are Leaving Crypto

7:39 How Do You Last In Crypto

9:39 Biases That Crypto Investors Try To Trick You With

11:20 Partnerships: @Trezor @BitwiseInvest

12:06 Major Lessons Haseeb Learned At Silicon Valley

17:51 Why Haseeb Compares Crypto To Tech

21:29 What Crypto Is All About

24:35 Haseeb’s Meaning Behind Believing In Exponentials

30:51 Partnership: @KASTxyz

31:39 How Haseeb Sees Crypto’s Future Becoming Huge

40:54 Does Haseeb Ever Sell Major Tokens

41:28 More Oh Haseeb’s Personal Finances

42:04 Haseeb’s Thesis On Bitcoin + Exponential Growth

48:29 What Does Bitcoin Look Like Once Saturated

51:10 Partnerships: @JupiterExchange @Ethena

51:53 Why Haseeb Defends ETH & SOL

58:07 When Has This Growth Story Thesis Been Wrong

1:02:31 Where HyperLiquid Fits: Growth Or Revenue

1:04:05 Should People Stay In Crypto?

1:08:31 Closing Thoughts

Eric Larchevêque, co-founder of Ledger, shares why everything you've been told about owning money is wrong - and how losing his savings to a corrupt bank, having his gold seized, and watching his co-founder get kidnapped for €10 million in Bitcoin proved it.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally.

Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

Follow Eric Larchevêque

• Twitter: https://x.com/ericlarch

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:00 Eric’s First Podcast In English

2:32 Where Does Eric’s Optimism Come From

3:31 The First Thing Eric Thinks Of Every Morning

4:03 What Eric’s AI Agents Do

4:57 How Eric Uses These AI Agents

5:47 What Does Eric Do & Why

8:01 Why People Need To Hit A wall

12:39 Who Is Eric Larcheveque

13:21 Eric’s First Major Leap For His Company

18:21 Going From Building Websites To Bitcoin

27:31 Partnerships: @Trezor @BitwiseInvest

28:17 Why Eric Went All In On Bitcoin

34:37 Did Eric Question The Volatility Of Bitcoin

40:24 100% Of Eric’s Liquid Networth Is In Bitcoin

49:59 You Should Build A Bitcoin Strategy

53:07 Where Does Bitcoin Go In 10 Years

54:47 What Does A Bitcoin Dominant World Look Like

59:24 Partnership: @KASTxyz

1:00:12 Why Bitcoin Will Never Hit 0

1:10:47 What Eric Learned While Building Ledger

1:16:03 Co-Founder Kidnapping Discussion & Advice

1:25:56 Why Eric Stays In France

1:27:23 Partnerships: @JupiterExchange @Ethena

1:28:07 What Is The Bitcoin Society

1:32:25 Who’s Backing Bitcoin Society

1:32:51 What Does A NBA Player Do With Bitcoin

1:33:46 Eric’s View On Learning To Learn

1:34:38 Why Eric Creates Videos When He Could Chill

1:37:19 Is Eric Building A Personal Brand

1:39:00 Does Eric Feel Happier Now With Money

1:40:04 Being An Entrepreneur Requires Sacrifice

1:41:22 Experiences > Buying Extra Bitcoin

1:44:06 Do Everything To Achieve This One Thing

1:45:11 Closing Thoughts

Dan Tapiero is the Founder of 50T Funds, a growth-stage equity fund exclusively focused on the digital asset ecosystem, and one of the few Wall Street veterans who has been publicly bullish on crypto since 2019.

In this episode, Dan reveals why crypto is the greatest macro investment of all time, why most investors will lose money despite being right, and why his $50 trillion thesis may actually be conservative.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally.

Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

FOLLOW DAN TAPIERO

• Twitter: https://x.com/DTAPCAP

• LinkedIn: https://www.linkedin.com/in/dan-tapiero-22b41b191/

FOLLOW 10T HOLDINGS

• Twitter: https://x.com/10Tfund

• Website: https://10tfund.com/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:00 Kast Card Discussion

2:40 Dan’s Framework For Investing In Businesses

5:29 Why Equity Over Tokenization

12:19 Partnerships: @Trezor @BitwiseInvest

13:05 Dan’s Bullish Tweet Style Explained

19:55 The Shift That Makes Someone Confident

28:00 Partnership: @KASTxyz

28:48 Why Markets Tend To Do The Unexpected

32:23 Conviction In Bitcoin Is Becoming Much Harder

41:03 How Dan Raises Money During A Bear Market

46:24 Partnerships: @JupiterExchange @Ethena

47:07 Why Dan Is Confident Crypto Will Go To $50 Trillion

52:02 How Agentic AI Will Help Crypto Reach $50 Trillion

54:33 The Numbers Behind ETH & SOL Post $50 Trillion

58:30 Closing Thoughts

Tarek Mansour is the co-founder and CEO of Kalshi, the largest federally regulated prediction market exchange in the US - valued at $2 billion and backed by some of the world's top investors.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally.

Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

___________

CONNECT WITH TAREK MANSOUR👇

Twitter: https://x.com/mansourtarek_Twitter: https://x.com/Kalshi

Website: https://kalshi.com/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

3:11 Where The Anime Passion Comes From

4:01 How Tarek Is Doing

4:53 Who Is Tarek

7:02 Which Version Of Uncertainty Is Tarek A Fan Of

9:10 Where Tarek’s Fire In The Belly Comes From

13:33 Partnerships: @Trezor @BitwiseInvest

14:20 What Tarek’s Brother Does

15:19 Why Tarek’s Resilience Is Crazy

16:31 Why Is Entrepreneurship Like Therapy

22:16 Is Tarek Mad, Crazy, Or In Denial

24:45 Would Tarek Have Ever Given Up Earlier?

29:54 Partnerships: @KASTxyz @sumsub

31:19 How To Focus On Inputs, Not Results

33:16 When Did Kalshi Come Into Existence

36:00 What’s The True Innovation Of Prediction Markets

38:28 How Prediction Markets Revolutionize The Media

43:47 How Are Prediction Markets A Better Insurance

44:55 Why Is There No Leverage In Prediction Markets

47:16 Partnerships: @JupiterExchange @Ethena

48:00 Tarek’s Opinion On Insider Trading

51:19 Who Enforces The Insider Trading Rules

55:26 How Kalshi Surveys Suspicious Behavior

56:59 Tarek’s Honest View On Crypto

59:41 Why Kalshi Is Launching Regulated Perps In The U.S

1:00:30 What Does Regulated Perps Mean?

1:02:22 Was Kalshi Inspired By HyperLiquid

1:03:41 How Much Time Does Tarek Look At Competition

1:05:58 What’s The Endgame For Kalshi

1:07:06 What Does Tarek Do With A Billion Dollars

1:08:31 Is Tarek Happy

1:13:08 One Thing Tarek Should Let Go Of

1:14:18 Closing Thoughts

Raoul Pal, co-founder of Real Vision, returns to break down why the AI race is the biggest capital event in human history and why crypto holders are positioned to win.

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally.

Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com

CONNECT WITH RAOUL👇

Twitter: https://x.com/RaoulGMI

Linkedin: https://www.linkedin.com/in/raoul-pal-real-vision/

Instagram: https://www.instagram.com/raoulgmi

YouTube: @RaoulPalTJM

GET RAOUL PAL’S FREE REPORT AND PREPARE FOR THE NEXT DECADE: https://rvtv.io/3YOZZUe

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod

Instagram: https://www.instagram.com/kevinfollonier_

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction

2:00 Traveling Non-Stop & Kast Card Discussion

5:00 What Raoul’s Been Up To The Past 4 Months

7:24 Why The Stock Market Never Ceases To Grow

10:33 What Is The Economic Singularity?

15:03 Partnerships: @Trezor @BitwiseInvest

15:49 Is It Still Early To Invest In AI?

17:44 Is Crypto Superior To AI Investment Wise

19:38 Crypto’s Reasons For Going Up Forever

22:54 Bitcoin Going From $126k - $60k Is A Nasty Correction

28:35 Why Raoul Started Buying Zcash

30:12 What Are The Left & Right Curve Trades?

30:47 Partnerships: @KASTxyz @sumsub

32:12 How Raoul Thinks About Allocation With Zcash

32:59 Raoul’s Thoughts On Hyperliquid & Hype Token

41:13 How To Measure Intelligence For Layer Ones

45:56 Why DeFi Isn’t Dead According To Raoul

51:09 How Do You Structure An NFT Portfolio?

56:04 Partnerships: @JupiterExchange @Ethena

56:47 Should People Only Focus On The Top Grail NFTs

59:35 Raoul’s Plan To Lend Against NFTs

1:00:44 Is Bitcoin A Proxy Trade For AI

1:02:05 Why You Should Never Sell Unless You Have To

1:04:33 The Numbers Behind Buying & Holding vs Trading

1:10:47 Raoul’s Advice On Developing Patience

1:14:55 Why People Should Stay In Crypto

1:17:06 Why There’s Hope For Crypto In 2026 & 2027

1:22:35 Closing Thoughts