1000x

The morning after the blue wave, and both hosts spend an hour admitting they got it wrong. Jonah walks through the JD Vance tweet he thinks is the best explanation of what happened. Then the part they didn’t see coming: that affordability was the whole election, and that the Iran war was a political catastrophe regardless of how it looks geopolitically. Avi calls it the end of MAGA politics and a...

Avi sits down with Illia Polosukhin at Token2049 in Singapore — co-author of “Attention Is All You Need,” the paper every modern AI model is built on, and co-founder of NEAR. Illia starts with his grandparents’ Sberbank savings book going worthless overnight and bread going up a hundredfold in a year in post-Soviet Ukraine, then walks through how transformers actually work: why recurrent models we...

The whole market de-risked into the Anthropic S-1. Then it bottomed the day the filing dropped. Avi is back in New York after a month that ran from Token2049 in Singapore to a wedding in Iraq, and he opens on why that trade keeps working — the market as a weighing machine, the perception of reality getting so bad that there’s nowhere left to go, and the short blowout that followed. Intel at 85 bac...

Avi is back from two weeks on the road — Singapore, Istanbul, and Iraq — and Jonah has spent that time doing actual work on the credit problem nobody wants to look at. They open on risk: the donut chain in Iraq pulling ten million a year because nobody else bothered to show up, Paul Tudor Jones’s “losers average losers,” why wealth is self-reinforcing, and the adverse selection problem that explai...

Avi sits down with Arthur Hayes at Token2049 in Singapore — the co-founder of BitMEX, the man who invented the perpetual swap, and now the founder of FLOP Network. Arthur traces the whole arc: growing up in Buffalo with parents who worked for General Motors, reading a book in high school that convinced him to learn Chinese and move to Asia, and starting his first day on a trading desk the morning...

Avi opens with the story of the last week — the RuneScape Gold allegations, what actually happened onchain, and a promise to the people who scammed his audience. Then he and Jonah get into why memecoin culture is a tax on your attention, and what separates a scam from a trade. From there it's markets. Jonah makes the case that Iran is a cornered animal with nothing left to escalate with, that...

Avi Felman sits down with Bryan Pellegrino, co-founder and CEO of LayerZero Labs, to talk about what happens when the largest institutions in finance start building on crypto rails. Bryan traces LayerZero's path from an MEV shop and a shockingly bad bridge to a protocol that has moved over $300 billion lifetime across roughly 170 chains, with $150 billion in assets built on top and $10–15 bill...

This week, Avi sits down with Scott Shay, co-founder and former chairman of Signature Bank and now founder of N3XT. Scott started at Salomon Brothers in the Liar's Poker era, taught the training class Michael Lewis was in, and went on to build Bank United of Texas from a distressed shell into a $20 billion bank alongside Lew Ranieri. He then founded Signature Bank, growing it to $110 billion i...

This week, with Meta, Bitcoin, crude and the broader economy all ripping, we ask how long it can last? We discuss why diamond prices are collapsing. Jonah explains the anatomy of a bad commodity and why you should always trade demand squeezes rather than supply squeezes, why copper just hit all-time highs, and why higher rates are counterintuitively bullish for Bitcoin and gold. We get into Meta&#...

This week, we break down the Financial Times exposé on how Poland lost $230 million trying to buy Venezuelan oil with crypto, and why Avi thinks it's actually the most bullish crypto story in a long time. Jonah explains how oil scams really work from seven years at Vitol, why the minimum ticket size makes street-corner deals impossible, and the $100 million wired for Indonesian coal mines that...

This week, Avi is joined live by GMoney, a trader who ran a desk for over a decade before becoming one of the most recognized collectors and investors in crypto, and who now hosts Full Port. We discuss whether NFTs are ever coming back and why Pokemon cards are just physical NFTs, why the last month has been the most exciting stretch on-chain since DeFi summer, the rise of MemeFi and tokenized sto...

This week, Intel rips 20% and Avi's $88 call pays off. We discuss Hunter Biden's $LAPTOP coin and why every political meme coin is explicitly telling you it exists to extract from you, why a bad first experience in crypto poisons the well for everyone, and where the actual trade is if you want to punt it anyway. Jonah then makes the case for putting commodities onchain — jet fuel perps, re...

This week, in a Friday solo stream, Avi breaks down a hot jobs report that has traders nervous about a September hike, and why crypto is ripping anyway. He's then joined by Se, co-founder of FOMO, for a wide-ranging conversation on the future of trading. We discuss why the entire market is really just attention, how onchain data gave FOMO an edge trading Robinhood, why you couldn't have bu...

This week, we break down the MemeFi mania taking over Robinhood chain, where meme coins are tying themselves to tokenized stocks and pumping microcaps on the NASDAQ. We discuss what's actually happening with tokens and why hope is the most powerful drug in trading, where the value in all of this actually accrues, and Avi's rules if you're going to gamble anyway. We also get into how Wa...

Recorded live at the Out East Conference, Avi sits down with Seth Ginns, CIO of Franklin Crypto and formerly of CoinFund and Jennison Associates. Seth spent eighteen years in public equities before becoming a seed investor in Coinbase in 2012 and building one of the largest liquid crypto funds in the market. We discuss how the Global Financial Crisis is what pushed him into crypto, why he waited y...

This week, with Bitcoin ripping 25% off the lows and NVIDIA earnings on deck, we break down why the market has flipped from fundamentals back to macro. We discuss the lockout rally and the two conditions that turned Avi bullish on Bitcoin and gold, why all roads lead to debasement, whether the Druckenmiller op-ed against Scott Bessent was actually an op, the history of the Bank of England trade an...

Recorded live at the Out East Summit, Avi sits down with Evgeny Gokhberg, founder and CIO of Re7 Capital, one of the last market-neutral funds still managing serious capital in crypto. We discuss his decade in TradFi trading emerging markets — shorting Chinese real estate through Australian iron ore, trading Egyptian stocks after the Arab Spring, why he left a comfortable seat to "1000x"...

This week, Avi sits down with Andrew Chanin, CEO of ProcureAM and founder of PureFunds, one of the best in the business at spotting narratives before the market catches on. We discuss how he launched HACK, the first cybersecurity ETF, just two weeks before the Sony breach, what it was really like market-making ETFs on the floor of the American Stock Exchange during the 2008 crisis, why the real ed...

This week, we break down why the Fed and Treasury just moved to backstop the yen and what it signals about an increasingly state-controlled market. We discuss why you should only hold what the administration has "anointed," the quiet power grab away from the Fed and the end of forward guidance, why gold, silver, copper and palladium are ripping, why Druckenmiller says the single best tra...

Recorded live at the Selini Summit, Avi sits down with Santiago Santos, founder of Inversion and one of the best-performing managers in crypto, who famously sold the top in 2021. We discuss how growing up in Mexico and consciously erasing his accent shaped his high-agency approach, why crypto matters far more outside the first world than inside it, why being "marginally delusional" is ho...

This week, we break down the biggest story in markets: the blowup of Leopold Aschenbrenner's Situational Awareness fund. We discuss whether Ken Griffin killed him or just showed up with the best bid, how an eleven-figure liquidation actually works behind the scenes, why going to the street to meet a margin call is like walking into a lion's den (and the Terra Luna call that proved it), whe...

This week, Avi sits down with Alexander Good, founder of Post Fiat, former Palantir and essayist, for one of the most wide-ranging conversations we've had. We discuss how he built a trading edge by reading stocks through advertising data, the EA vs Booking pair trade, the "goldfish theory" of why attention is more predictable than the future, where the model breaks (and why it's...

This week, with memory stocks down 30-40% from the highs, we ask whether memory has bottomed. We discuss why AI bailed out the everything bubble and why this bubble is different, the George Soros model of why a bubble comes back bigger the second time, why only 2.2% of US households pay for AI and why that means we're in inning one, the $26 billion Korean margin-call wipeout and what it tells...

This week, Avi sits down with Vlad Novakovski, founder and CEO of Lighter, the on-chain exchange partnered with Robinhood. Vlad went to high school with Robinhood's Vlad Tenev, competed in the Physics and Informatics Olympiads alongside future Anthropic co-founders and Facebook's first CTO, finished Harvard at 19, and was recruited to Citadel by Ken Griffin himself. We discuss the Olympiad pipelin...

This week, we go deep on how careers and capital actually get made. We discuss how Jordi Alexander built Selini from a poker table, why table selection is the single most important decision you'll make, an insider's account of how Goldman Sachs anoints its "Illuminati" and what it takes to get there, why Jonah took a shot at the king and missed, why Ken Griffin says the alpha has...