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Unchained

Do Centralized Real World Assets on DeFi Break Ethereum? - Bits + Bips

Unchained

Laura Shin

Tech News, Business News, News

4.61.3K Ratings

🗓️ 1 April 2026

⏱️ 64 minutes

🧾️ Download transcript

Summary

When do oil prices force a ceasefire? Why is crypto holding firm while equities crack? And does Canton or Ethereum win the institutional race? --- Thank you to our sponsor: ⁠⁠⁠Nexo⁠⁠⁠ — the premier digital wealth platform. Receive interest on your digital assets, borrow against them without selling, and trade a wide range of cryptocurrencies all in one place. Now available in the US with 30 days of exclusive privileges for new clients. Get started at ⁠⁠⁠nexo.com/unchained⁠⁠⁠. ---- Bond market tightening has become the invisible hand constraining every policy decision, from Iran talks to stimulus spending.  With Brent crude at $107 and the 10-year yield climbing, asset prices face a cascade of headwinds: inflationary supply shocks, tightening financial conditions, and no clear off-ramp for a conflict that the IRGC shows no appetite to negotiate.  Yet within crypto, a sharper debate is emerging: does institutional adoption demand Canton’s permissioned structure, or can Ethereum survive with real-world assets on a permissionless layer?  Austin, Ram, and Chris dig into the structural fault lines that the macro backdrop is now exposing, and why market-timing in a conflict where you don’t know who the endgame negotiator is may be the wrong frame entirely. Hosts: ⁠⁠⁠Austin Campbell⁠⁠⁠, Host of Bits + Bips, Zero Knowledge Consulting ⁠⁠⁠Ram Ahluwalia⁠⁠⁠, Co-Host, CEO of Lumida ⁠⁠⁠Chris Perkins⁠⁠⁠, Co-Host, President of CoinFund Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey everyone. Welcome to bits and bibs, where we explore how crypto and macro collide one basis point at a time.

0:08.2

We're here to discuss the latest stories in the worlds of crypto and macro. Just remember, nothing we say here is investment advice,

0:15.7

and please check unchained crypto.com slash bits and bips for more disclosures. Now before we begin,

0:25.3

a quick commercial break. Introducing Nexo, the premier digital wealth platform. Receive interest

0:31.6

on your digital assets. Barrow against them without selling. Trade a variety of cryptocurrencies,

0:41.3

all in one platform, now available in the U.S.

0:46.0

Get started today at nexo.com slash unchained.

0:56.0

All right, so as always, I'm your host, Austin Campbell, high scholar of zero knowledge group, and here with my co-hosts,

0:57.7

Ramalawalia, maister of wealth, the leader of Libina,

1:01.5

and Chris Perkins, the Golden Hand of Coin Funds.

1:04.6

Today, we're gonna start with a segment

1:07.2

that we're calling the bond market is running foreign policy. So on Sunday, Trump told

1:15.3

the financial times overnight that he wants to, quote, take the oil in Iran. But some people back in

1:22.4

the U.S. are saying, why are you doing that? He referenced Karg Island, which handles 90% of Iran's crude exports and said, maybe we take it.

1:32.0

Maybe we don't.

1:32.9

We have lots of options.

1:35.1

Chris, you've been on this before, but U.S. troops are now deployed to the region and available.

1:41.1

Brent has surged up early in the day to 116 a barrel. Oil continues trading with a

1:48.0

significant amount of volatility. The conflict itself is continuing. The Houthi's fired a ballistic

1:54.0

missile at Israel. There was a suspected Iranian-backed attack on a Saudi air base that wounded U.S. troops.

2:02.8

And Trump's April 6 pause on striking Iranian power plants is still in effect,

2:07.8

but the FT interview signals that the military track might still be very much alive.

...

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