Crypto Options Unplugged

Deribit Exchange
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Join Imran Lakha and David Brickell on 'Crypto Options Unplugged,' your weekly-go-to crypto podcast. Expect in-depth analyses valuable insights, expert opinions, and entertaining discussions on the crypto market's hottest topics. Don’t miss out - tune in, subscribe, and stay plugged into the pulse of the crypto world!

  1. Is Bitcoin’s Bull Market Broken? #113

    3 hr ago

    Is Bitcoin’s Bull Market Broken? #113

    In this week’s Crypto Options Unplugged, Imran and David are joined by special guest Andreja Cobeljic, Head of Derivatives at Amina Bank, for a wide-ranging discussion on crypto market structure, institutional flows, macro regime shifts, and why crypto still feels stuck despite a structurally bullish long-term backdrop. Andrea shares his journey from JP Morgan and Goldman Sachs proprietary trading desks into crypto, explaining how a move to Switzerland’s Crypto Valley and a deep dive into the Bitcoin whitepaper completely changed his perspective on digital assets. The conversation explores how institutional traders view Bitcoin—not just as a speculative asset, but as part of a broader shift in financial architecture.The team then unpacks the current crypto market malaise. Despite long-term bullish conviction, realised volatility remains muted, flows feel one-directional, and markets appear trapped in a narrative vacuum. They debate whether Bitcoin’s current structure is overly dependent on concentrated buying, what’s missing to reignite broader participation, and whether apathy—not fear—is the dominant emotion in crypto right now.The macro conversation expands into bond markets, inflation, capital rotation, and the possibility that traditional market relationships are breaking down. The discussion explores whether investors are structurally moving away from sovereign bonds toward equities and hard assets as purchasing power concerns rise, and where Bitcoin fits into that evolving framework. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    37 min
  2. AI + Crypto: The Next Big Shift #112

    6 days ago

    AI + Crypto: The Next Big Shift #112

    In this episode of Crypto Options Unplugged, Imran and David break down the macro forces driving crypto markets before diving into a deep conversation with Max Gokhman, Head of Artificial Intelligence and Digital Assets at Franklin Templeton. The team explores how geopolitical tensions, elevated oil prices, inflation expectations, bond market volatility, and central bank policy uncertainty are tightening liquidity and weighing on risk assets. They also debate whether markets are overpricing rate hike risks and what a higher inflation / steady Fed environment could mean for equities, Bitcoin, and broader crypto.The conversation then shifts to AI, where they debate whether the current AI boom is a sustainable secular trend or the early stages of a speculative bubble. Key themes include hyperscaler infrastructure spending, semiconductor demand, monetisation risks, and whether all major AI players can justify current valuations.In the featured interview, Max Gokhman shares his macro investing background and explains why Franklin Templeton is leaning into the convergence of AI and digital assets. The discussion covers institutional adoption, tokenisation, blockchain infrastructure, crypto regulation, and why digital assets may be evolving faster than price action suggests. The episode closes with a long-term view on crypto positioning and why patience may still be rewarded. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    1hr 8min
  3. Is the AI Bubble Stealing Crypto's Thunder? | Why 100K BTC is Still the Play #111

    13 May

    Is the AI Bubble Stealing Crypto's Thunder? | Why 100K BTC is Still the Play #111

    Imran and David explore the recent "slow grind higher" of Bitcoin as it digests overhead supply, contrasting crypto’s low volatility with the explosive, retail-driven gamma frenzy currently fueling AI and semiconductor stocks. They argue that despite "sticky" price levels, a highly supportive macro environment marked by surging bank repo liquidity, declining bond volatility, and the Fed’s willingness to tolerate inflation is creating a massive tailwind for risk. Ultimately, they conclude that while AI is currently capturing the "hot money," the ongoing expansion of the monetary base reinforces the long-term necessity of owning hard assets like Bitcoin as a hedge against inevitable currency debasement. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    31 min
  4. CRYPTO: The Future of Cross Border Payments #110

    7 May

    CRYPTO: The Future of Cross Border Payments #110

    In this episode of Crypto Options Unplugged, Imran Lakha (Options Insight) and David Brickell (FRNT) are joined by James Brownlee, CEO of T-0 Network, to discuss the massive shift in how money moves across borders. We kick off with a look at Bitcoin’s "grindy" price action as it targets the $85,000 level, exploring why institutional inflows and negative real yields are fuelling this outperformance over altcoins.Then, we dive deep into the world of Stablecoins. James explains how T-0 is bypassing the slow, opaque, and expensive legacy SWIFT system to enable near-instant, "fiat-to-fiat" global settlements using USDT. Key topics covered: BTC Market Analysis: Why 85K is the next big level to watch.The Stablecoin Paradigm Shift: Why 95% of the market still relies on the USD.Regulatory Fragmentation: The impact of MiCA in Europe vs. the US "Clarity Act."Fixing Global Remittances: How blockchain makes cross-border payments feel as fast as local ones.Institutional Adoption: How the world’s biggest banks are reacting to the threat of T-Zero settlement. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    37 min
  5. Is The $80K Wall Unbreakable for Bitcoin? #109

    29 Apr

    Is The $80K Wall Unbreakable for Bitcoin? #109

    In this episode, Imran Lakha  (Options Insight) and David Brickell (FRNT) dissect a "grindy" market where crypto seems to be falling asleep while equities and semiconductors go parabolic. We explore the growing decoupling between Bitcoin and the resurgent tech sector, diving deep into the massive supply overhead at the $80k level and the "yield hunting" trend dominating the options space. Beyond crypto, we analyze the "headline fatigue" surrounding geopolitical conflicts, the alarming risk of a manufacturing shutdown due to dry supply chains in the Strait of Hormuz, and how a "transitory" oil shock is actually driving real rates lower—creating a surprisingly bullish (if volatile) backdrop for risk assets. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    32 min
  6. Dissecting Cryptos Latest DeFI Hack #108

    22 Apr

    Dissecting Cryptos Latest DeFI Hack #108

    In this episode, James Harris, CEO of Tesseract joins Imran and David  to discuss the current state of the Defi market. James talks of his transition from a TradFi background at banks like Citigroup and Salomon Brothers to building regulated crypto infrastructure since 2017. Harris provides a technical breakdown of a recent DeFi exploit involving Kelp DAO and Aave, explaining how the attacker spoofed a bridge to drain assets and why hard-coded pegs often create systemic vulnerabilities. The conversation explores Tesseract’s role in providing regulated "yield-as-a-service" for major platforms like Robinhood and Bitstamp, alongside the emergence of on-chain "vaults" that offer real-time transparency for institutional asset management. Harris emphasizes that while he values the permissionless nature of DeFi, regulatory frameworks like MiCA are essential for protecting users and facilitating the tokenization of everything. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    1hr 2min
  7. Crypto Markets Threaten To Break The Range #107

    16 Apr

    Crypto Markets Threaten To Break The Range #107

    In this week's episode Imran (Options Insight)and David (FRNT) catch up with a one-to-one conversation. They delve into the recent happenings in crypto and macro that are driving the latest wave of optimism which has taken equity market back to the highs. After months of range trading they question if this is finally the upside break we have been waiting for and Imran explains how he's playing it with short dated calls. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    36 min
  8. Crypto Vol Depressed As Yield Strategies Dominate #106

    8 Apr

    Crypto Vol Depressed As Yield Strategies Dominate #106

    Jasper De Maere, OTC trader at Wintermute, joins Imran and Dave. He moved from traditional sales & trading and equity research at Morgan Stanley into crypto research at Outlier Ventures before joining Wintermute’s OTC desk. He flags options volumes surging 5x year-over-year on the desk, driven mainly by yield-generating strategies such as covered calls and cash-secured puts from long holders, plus targeted catalyst trades. Delta One remains the core business. Points discussed include Bitcoin in an accumulation zone with persistent structural supply pressure, but slow institutional buying continues to provide support. Miners face profitability challenges for the first time in a halving epoch with negative four-year BTC returns on held rewards; energy costs and smart treasury management (including options) are now critical, and some are pivoting toward AI data centers. The market is shifting from isolated projects toward deeper TradFi integration through tokenization, stablecoins, and AI agents, with capital likely concentrating in quality revenue-generating protocols. Deribit FZE does not accept UAE retail clients for derivatives and does not accept US clients and clients from restricted countries.

    45 min
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About

Join Imran Lakha and David Brickell on 'Crypto Options Unplugged,' your weekly-go-to crypto podcast. Expect in-depth analyses valuable insights, expert opinions, and entertaining discussions on the crypto market's hottest topics. Don’t miss out - tune in, subscribe, and stay plugged into the pulse of the crypto world!

Information

  • Creator
    Deribit Exchange
  • Years Active
    2024 - 2026
  • Episodes
    130
  • Rating
    Explicit
  • Copyright
    © Deribit Exchange
  • Show Website
    Crypto Options Unplugged

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