Bits + Bips: Where Is the Most Wealth to Be Made in Crypto: DeFi or CeFi?

Crypto’s bull run may be far from over, but the battleground is shifting. 

On this week’s Bits + Bips, Bill Barhydt of Abra and Robert Leshner of Superstate join Ram Ahluwalia and Steven Ehrlich to debate: 

• The current state of the markets with a looming government shutdown 

• SWIFT’s move to build on Linea, an Ethereum layer 2

• Hyperliquid vs Aster

• The future of perps vs. spot 

• Why some DATs are starting to look like grifts 

• Whether DeFi billionaires will ultimately eclipse their CeFi predecessors 

Plus: Binance’s and Tether’s valuation, CZ as the entrepreneur of the decade, and why the industry may be entering an era of “perpification.”

Thank you to Xapo for sponsoring this episode!

Hosts:

• Ram Ahluwalia, CFA, CEO and Founder of Lumida

• Steven Ehrlich, Executive Editor at Unchained

Guests: 

• Bill Barhydt, Founder and CEO of Abra

• Robert Leshner, Co-founder & CEO of Superstate

  Links:

Steve’s story on the DAT that claimed it raised much more than it actually did

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Timestamps:

• 🎬0:00 Intro

• 📈 3:26 Why Bill believes the bull run is far from over

• 🧐 5:10 Why Ram is pushing back on market FUD

• 🏛️ 9:10 Will a government shutdown impact markets?

• 🌐 12:48 Why SWIFT building on Ethereum’s Linea layer 2 is such a big deal

• 🏦 22:15 Whether it even matters if banks embrace crypto

• ⚠️ 27:50 How one DAT may have been the “ultimate grift”

• ⚔️ 35:58 Inside the DEX perps wars: Hyperliquid vs Aster

• 👑 40:32 How valuable Binance and CZ really are to the industry

• 🚀 50:39 What advantages make Hyperliquid stand out in the perp battle

• 🤔 53:14 Why picking winners in trading isn’t so simple

• 🔄 57:29 Winners in stablecoin race plus why perps are better than spot

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