Avi Felman

Avi Felman × Jonah Van Bourg × Kaledora Kiernan-Linn

Kaledora Kiernan-Linn argues that post-COVID volatility is pushing consumers toward second-order event trades and cross-asset exposure, making perps the instrument for “the perpification of everything.”Ostium is positioning as a broker layer that puts existing global markets on chain rather than rebuilding exchange infrastructure, while its traders’ early stagflation positioning highlights both signal quality and sharp P&L risk.

Avi Felman × Jonah Van Bourg

Hyperliquid is moving beyond crypto speculation as trade XYZ reached 2% of global crude volumes, while token dispersion makes revenue and growth more relevant than broad beta exposure.Perpetuals may attract flat-price commodity trading and 24/7 venues offer a claimed 35% revenue lift, but dated futures, institutional hedging, DeFi security, and Washington’s regulatory decisions remain key adoption constraints.

Avi Felman × Jonah Van Bourg

Precious metals have entered a retail-driven alt season: CTA buying, sovereign demand and panic pushed silver nearly 300% since breakout, despite limited geopolitical or national-security support.Both expect a violent reversal; longer-term attention shifts to rare earth miners (REMX, USR), uranium and copper, with possible US investment within 6-12 months, while Jonah prefers Bitcoin at 88 over gold at 5,000.

Jonah Van Bourg × Avi Felman

Jonah expects oil undersupply over the next couple of years as higher financing costs constrain extraction, before prices destroy demand and accelerate EV adoption.He considers Polygon roughly 18 months ahead and “quite under-owned,” citing $180 million of Nike NFTs, sustained usage without heavy incentives, and stronger token economics.ETFs should lead the rally, while initial GBTC outflows and rejection of an altcoin-led rally remain key risks.