Bits + Bips: Reasons to Be Optimistic After Bitcoin Falls Toward $100K - Ep. 938

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 4 November 2025

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Bitcoin has fallen below $102,000. “Uptober” ended in blood. But while retail traders are terrified, institutional conversations are heating up. In this episode of Bits + Bips, hosts Austin Campbell, Ram Ahluwalia, and Chris Perkins are joined by Teddy Fusaro, President of Bitwise, to unpack the week’s market turmoil. They dig into why institutions are finally comfortable allocating to bitcoin, how Ripple is building an ecosystem that can’t be ignored, and whether Tether’s staggering $500 billion valuation makes sense. Plus: the shrinking odds of the CLARITY Act, the merging of TradFi and crypto rails, and why the competition in the payments space is so hot. Sponsors: Binance Mantle Hosts: Ram Ahluwalia, CFA, CEO and Founder of Lumida Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting Christopher Perkins, Managing Partner and President of CoinFund Guest: Teddy Fusaro, President of Bitwise Links: Unchained: Ripple Hits $4B Investment Milestone With Palisade Deal Extreme Fear Returns to Market as Bitcoin Breaks $104k Support Solana ETFs Draw $44 Million as Bitcoin Funds Bleed $191 Million Stablecoin Volume on Ethereum Breaks $2.8 Trillion Record in October Bitcoin ETFs Record $470 Million Outflows Amid Fed Rate Decision DL News: Clarity Act has 80% chance of passing by 2026: Bitwise The Block: Tether's annual profits top $10 billion as Treasury holdings swell Timestamps: 🎬 0:00 Intro 📈 3:03 Why Ram is still bullish on markets despite recent carnage 💧 6:03 Why a slingshot economy will soon send liquidity back into risk assets 🏦 9:18 How institutional sentiment now differs sharply from crypto Twitter 🚀 16:43 Inside Bitwise’s clever move to launch BSOL 🌊 21:20 Why Chris says “you can’t sleep on Ripple” 🔗 25:28 How TradFi and crypto rails are starting to merge 💳 29:38 Why every company suddenly wants to own the payments layer 💣 30:53 Exlporing Tether’s biggest challenge —and whether it’s worth $500B 📊 39:52 ETFs vs. digital asset treasuries: Teddy’s take ⚖️ 46:48 Why the CLARITY Act is unlikely to pass in 2025 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The sentiment in the conversations that we're having with financial advisors, with platform that house broker dealers and wealth managers,
0:09.0	with the home offices that work to approve crypto products to make them available for financial advisors and throughout their wealth management networks, has never been more positive.
0:20.0	I'm not telling you to buy the token or not buy the token. Do your research. I don't care. But the point that I was making is that you really can't sleep on Ripple. The only question for tether is, if you're looking at the equity, it's $500 billion to a higher price. You can buy Open AI half a trillion or you can buy tether. It's like the meme of the two buttons.
0:37.5	I see a future for stable coins where the distributors and the consumers are going to suck
0:42.0	all of that profit out of tether.
0:43.8	And that's not to say it goes to another stable point issue where it sort of distributes
0:47.5	throughout the market.
0:49.9	All right.
0:50.9	Hello everybody.
0:52.3	Welcome to bits and bips exploring how crypto and macro collide one basis point at a time.
0:58.1	So I'm Austin Campbell, high scholar of zero knowledge group, self-described in recovering grouchy fixed income trader and professor at NYU Stern.
1:07.0	Despite the best efforts of crypto, Twitter, I also remain the moderator of this podcast.
1:11.6	Joining me today are Chris Perkins, the Golden Hand of Coin Fund, part of the city crypto mafia,
1:17.6	and somebody who has assured me before the show that he has even more hot takes today about things that the crypto market is getting wrong.
1:24.6	We also have Rahm joining us today.
1:26.6	Ram is the founder of Lumida Wealth and joining us from Money 2020 to take time out.
1:32.3	Oh, no, that's last week.
1:33.5	Ram this week is back in New York.
1:35.3	The recovery and same thing.
1:36.5	It's just a blur.
1:37.5	Yeah, joining us from the parties here.
1:40.7	And we also have joining us as our guest, Teddy Fasaro, warden of the Bitwise reserves,
	...

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