How Microsoft Won the OpenAI Fight as Markets Rally on Iran

Unchained

Laura Shin

Business News, News, Tech News

4.6 • 1.3K Ratings

🗓️ 29 April 2026

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

One side wins the OpenAI-Microsoft divorce, Ram calls a 19% earnings growth year 'bananas,' and Chris wants the US to hack back against DeFi exploiters. Here is the full rundown. --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠Apple Podcasts⁠⁠⁠, ⁠⁠⁠YouTube⁠⁠⁠, ⁠⁠⁠Spotify⁠⁠⁠, ⁠⁠⁠X⁠⁠⁠, ⁠⁠⁠Unchained⁠⁠⁠ and wherever you get your podcasts. ---- Chris Perkins and Ram Ahluwalia cover a lot of ground this week: Iran appears to be seeking a deal to end the Strait of Hormuz blockade as US economic pressure mounts, and the US government just worked with Tether to seize over $300 million in Iranian-linked stablecoins. Bottoms-up S&P earnings estimates are running at 19% year-over-year growth, tech earnings are about to hit, and both hosts think the setup for markets is unusually constructive. They also break down the new Microsoft-OpenAI agreement, the arrest of a special operations soldier for betting on the Maduro raid on Polymarket, and what the Kelp DAO hack means for DeFi's path to institutional adoption. Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠Ram Ahluwalia⁠⁠⁠⁠⁠⁠⁠⁠⁠, Co-Host, CEO of Lumida ⁠⁠⁠⁠⁠⁠⁠⁠⁠Chris Perkins⁠⁠⁠⁠⁠⁠⁠⁠⁠, Co-Host, CEO of 250 Digital Asset Management Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to Bits and Bips, where we explore how crypto and macro collide one basis point at a time.
0:05.0	We're here to discuss the latest stories in the worlds of crypto and macro.
0:09.0	With that, we're going to take our first break.
0:12.0	Bitcoin changed how money works.
0:14.0	Satrea changes how Bitcoin scales.
0:16.0	With a trust minimized BTC and a native stable coin, CTUSD,
0:20.0	Citraea enables Bitcoin capital markets
0:23.3	with lending, privacy, Bitcoin yield, and more. Get started at Citraia.xyZ slash unchained.
0:29.8	EtherFi is giving Unchained listeners 15% cash back on food and ride apps, and that's on top
0:35.4	of the 3% you get on everything else. Your bank is charging you to use your own money.
0:39.7	I switched.
0:40.7	Go to ether.Fi slash unchained to claim your discount.
0:46.5	I'm your host Chris Perkins, the golden hand of 250 digital asset management.
0:52.5	And today the good professor, Austin, is out teaching and doing what he does. So I'm going to sub in as the host. And I'm here with my co-host, Ram Alawalia, master of wealth, leader of Lumina. How are you, sir? Hi, Chris. You're doing well. How are you? I'm doing well. Lots going on. Lots going on. you're telling me before on the pre-call, you're super bullish.
1:13.8	But what's on your mind?
1:15.4	I think there's a lot to be bullish about, a lot to be optimistic about.
1:18.6	We have some news around the Strait of Hermuz,
1:21.5	where the IRC is proposing a path at the escalation.
1:27.2	We've got earnings estimates that are going up. You've got
1:29.7	a lot of names that look like they have bottomed. So we can take it where you want. But that's
1:37.6	what's on my mind. All right. And yeah, let's let's start off with Iran. We'll just go through
1:43.2	that quickly because I think that that's really been in the driver's seat, right? We haven't reached, I don't know, it feels like we're reaching that stasis finally, where the markets are just like, yeah, it's in the backgrounds like Ukraine. It's not like impacting our day to day. Certainly something could come out of the woodwork and change things. But it feels like we're kind of in the, we're leaning forward. I don't want to
	...

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