Bits + Bips: Why Rate Cuts Are Less Likely This Year, but Crypto's Outlook Is Positive - Ep. 839

U.S. credit got downgraded. Fed policy expectations are flipping. And Coinbase hit the S&P 500 (while also being extorted). But what does all of this mean for crypto? On this week’s Bits + Bips, James Seyffart, Alex Kruger, Ram Ahluwalia, and Noelle Acheson break down: Why the Moody’s downgrade doesn’t mean much for markets Whether Fed rate cuts are now further off than expected Why Alex says Coinbase is a “horrible product” despite S&P inclusion How stablecoins tie into U.S. geopolitical strategy Whether Circle should sell to Coinbase And what the altcoin ETF delay really tells us Plus: unemployment, yield curve control, the “Consensus vibes,” and Ram’s wild anecdote about workers gaming unemployment benefits. Bitwise James Seyffart , Research Analyst at Bloomberg Intelligence Alex Kruger , Founder of Asgard Ram Ahluwalia , CFA, CEO and Founder of Lumida Noelle Acheson , Author of the “Crypto Is Macro Now” Newsletter Macro Reuters: Moody's downgrade intensifies investor worry about US fiscal path USNews: Trump Tells Walmart to 'Eat the Tariffs' Instead of Raising Prices Coinbase Unchained: How the Attack on Coinbase Shows the Dangers of Centralized Exchanges Fortune: Circle pursues IPO—but talks with Coinbase and Ripple could mean a sale, sources say CNBC: Coinbase joining S&P 500, replacing Discover Financial Stablecoin bill Unchained: Stablecoin Bill Passes Key Hurdle: Dems Join GOP to Deliver a Crypto Win Timestamps: 👋 0:00 Intro 💳 2:18 A big reason why the U.S. credit downgrade matters for investors 📉 7:49 Contrarian take: why souring U.S. debt could also hurt crypto 🛡️ 15:30 Do tariffs work against the U.S. military and national security? 🔁 20:14 Why the crew flipped on Fed rate cut expectations 📊 28:35 Is the U.S. about to introduce yield curve control? 🧾 35:04 Are the Mag7 stocks the new safe havens in a recession? 📈 38:54 What if the “Goldilocks” scenario is priced in, and it's wrong? 💼 44:26 Why hedge funds are secretly in a vulnerable position 🫱 49:15 What the “vibes” at Consensus 2025 revealed 💵🇨🇳 50:44 A secret threat that the stablecoin bill poses to China? 📈 57:43 What Coinbase’s S&P 500 inclusion means and why Robinhood is its biggest threat 🌀 1:07:17 Should Coinbase acquire Circle? Here’s what the panel thinks ⏳ 1:13:38 Why altcoin ETF approvals are delayed and wen staking in ETFs? Learn more about your ad choices. Visit megaphone.fm/adchoices