The DeFi Report

Hosted by Michael Nadeau

Business Investing

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Latest episode

Aug 2026

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EN-US

About the show

Our weekly show is hosted by Michael Nadeau (The DeFi Report) and Ryan Sean Adams (Bankless). Each week, we discuss how we approach managing our own portfolio and the data, research, and analytical frameworks that inform those decisions — for educational and informational purposes.

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34 recent

August 19, 2026Episode 3342 min

Is AI Entering the "DAT Season" Stage of the Cycle?

🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- AI may be entering its late-cycle phase as Wall Street finds new ways to keep the boom funded. Mike and Ryan unpack Nvidia’s $500 billion financing push, why it echoes crypto’s DAT season, and whether leverage is extending the AI trade or creating hidden risk. They also cover Treasury buybacks, Bitcoin’s $60K–$65K buy wall, and where Mike sees the next “fat pitch” opportunity. ---- TIMESTAMPS 0:00 Intro 0:13 AI Trade Setup 3:12 On-Chain Milestone 6:57 Bitcoin Buy Wall 10:59 Treasury Buyback Shift 14:14 NVIDIA’s Credit Machine 25:24 AI Bull vs Bear 30:21 Real Yields Surge 36:03 Bear Market Outlook 39:04 The Next Fat Pitch ---- Not financial or tax advice. For educational purposes only.

August 12, 2026Episode 3241 min

QE Lite, Rising Yields & Bitcoin’s Final Bear Market Test

Bitcoin may be entering the final stretch of the bear market, but macro risks are starting to build. Mike and Ryan break down the Treasury’s new “QE Lite” play, why 30-year yields are breaking to 20-year highs, and how intervention in the yen could ripple across global markets. They also cover gold’s latest surge, Bitcoin’s key cycle levels, and whether one final risk-off move could send BTC toward deep value territory before the next expansion. ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 0:14 Bear Market Finale Setup 3:33 On-Chain Cohorts & Capitulation 10:09 Weak Volumes, Miner Selling 13:30 Inflation, Yen, & Gold 17:53 Treasury Yields Break Higher 26:04 Yen And Nasdaq Divergence 32:11 Bitcoin Price Scenarios Ahead 38:20 Pump Thesis & Cycle Upside ---- Not financial or tax advice. For educational purposes only.

August 5, 2026Episode 3137 min

Bitcoin vs. Nasdaq: Is This Rally a Trap?

The Nasdaq has nearly erased a 10% selloff, but the bond market may be telling a very different story. Mike and Ryan break down why the Fed may be letting rising long-term yields tighten financial conditions, whether the rally in equities is built to last, and why Bitcoin may have already bottomed relative to the Nasdaq even if both markets still have more pain ahead. They also cover Bitcoin’s cycle metrics, Strategy’s latest BTC sales, and the possibility of one final move toward $55K before the next major buying opportunity. ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 0:21 NASDAQ vs Bitcoin 2:04 Market Whipsaw Explained 6:32 Bitcoin Cycle Check 13:16 Strategy’s Bitcoin Stress 16:06 Bitcoin Dominance Shift 22:39 Bitcoin Versus QQQ 26:43 Fed Lets Yields Run 34:39 Staying Patient Into Year-End ---- Not financial or tax advice. For educational purposes only.

July 29, 2026Episode 3034 min

Can the Economy Handle Rate Hikes?

The Fed may be forced to hike into an economy that looks strong on the surface but is weakening underneath. Mike and Ryan unpack the fault lines in labor, housing, savings, and credit, why the AI trade may be rolling over, and how one final risk-off move could send Bitcoin toward $55K before the next major buying opportunity. ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 0:17 Fed Hike Shock Ahead 2:36 Market Signals Tighten 6:37 Fed Independence Questioned 11:10 Economy Under Pressure 16:32 Housing Fault Lines 21:14 Dollar Strength Warning 24:17 After the Sell-Off 28:40 Global Liquidity Outlook 31:00 Portfolio Patience ---- Not financial or tax advice. For educational purposes only.

July 22, 2026Episode 2943 min

Bitcoin’s Bear Market Is 80% Over? One More Lower Low Coming?

Bitcoin may be 80% through its bear market, but the bottom still isn’t confirmed. Ryan and Mike unpack weak demand, rising macro pressure, the risk of one more lower low, and why $63K and $73K now matter most. ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 3:27 Fair Value and Capitulation 8:10 Time-Based Selloff 13:07 Searching for Demand 16:13 Miners Under Pressure 18:45 Strategy and Saylor 21:25 Iran and Oil Risk 28:28 AI Speculation Peaks 34:06 Macro or On-Chain? 37:04 Bitcoin Levels to Watch 41:25 TDR Updates and Outlook ---- Not financial or tax advice. For educational purposes only.

July 15, 2026Episode 2848 min

TDR Pro’s 1st-Year Portfolio Audit: Wins, Learnings & the Current Portfolio

Mike opens the books on TDR Pro’s first year: a portfolio up 13% through a crypto bear market, 53% realized gains, and a timely risk-off call before Bitcoin fell 45%. Ryan and Mike audit the wins, misses, and process behind the performance. ---- 📣GALAXY | INSTITUTIONAL DIGITAL FINANCE https://bankless.cc/Galaxy ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-yt https://thedefireport.io/friends https://obsidian.md/ https://obsidian.md/clipper https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 5:12 Portfolio Goals and Sleep Well 10:46 Realized Gains and Bitcoin Alpha 13:50 Unrealized Gains in Bear Market 17:30 Lessons From the Bull Run 23:34 Misses, Lessons, and Flexibility 31:01 Current Portfolio Sectors 36:52 Using TDR Pro With AI 42:57 Transparency and Performance Updates 46:33 Final Grade for the Year ---- Not financial or tax advice. For educational purposes only.

July 8, 2026Episode 2739 min

Is the Bitcoin Low Really In?

Bitcoin bounced, but the bottom still isn’t confirmed. Ryan and Mike unpack the missing coin-rotation signal, weak ETF and spot demand, Saylor’s BTC sale, and why $50K remains in play. ---- 📣GALAXY | INSTITUTIONAL DIGITAL FINANCE https://bankless.cc/Galaxy ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 0:14 Bitcoin Low Or Not? 5:06 Trench Revival In Crypto 6:55 Why Mike Still Sees Lower 12:59 The Coin Rotation Debate 19:31 ETF Demand And Volume Check 23:52 Saylor, Clarity, And Zcash 34:25 Closing Bets And Performance Report ---- Not financial or tax advice. For educational purposes only.

July 1, 2026Episode 2637 min

Bitcoin’s Green Light…Buy Now or Wait for One More Flush?

Bitcoin is back near historic buy-zone levels, but the bottom still isn’t confirmed. Ryan and Mike unpack the green-light indicators, the risk of one final flush, and what past cycles say about future returns. ---- 📣GALAXY | INSTITUTIONAL DIGITAL FINANCE https://bankless.cc/Galaxy ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-yt https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 0:22 Bitcoin Buy Now Debate 4:57 Key Cycle Indicators 8:39 Rotation Still Missing 14:50 Macro Risks Ahead 27:02 Patience And Returns 30:24 Price Levels To Watch 35:11 Drawdown And Outlook 36:48 More Reports Coming ---- Not financial or tax advice. For educational purposes only.

June 24, 2026Episode 2546 min

Why does BTC continue to track the 4-Year Cycle?

Bitcoin’s 4-year cycle may look arbitrary, but the data tells a deeper story. Ryan and Mike break down how leverage, credit, stablecoins, DeFi loans, miners, and Strategy drive crypto’s recurring booms and busts, and whether one final domino still needs to fall. ---- 📣GALAXY | INSTITUTIONAL DIGITAL FINANCE https://bankless.cc/Galaxy ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-rss https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 5:21 Bitcoin’s Capital Base 15:00 Leverage Drives the Premium 20:07 Stablecoins and VC Flow 23:08 On-Chain Loan Cycles 26:08 Perps and Treasury Leverage 32:14 Deleveraging and Hidden Risks 34:29 Miner Capitulation 37:12 Why Four Years? 40:08 ETH and Solana Positioning ---- Not financial or tax advice. For educational purposes only.

June 17, 2026Episode 2444 min

Bitcoin’s Bottom Case, ETF Outflows & The No-Buyers Problem

Bitcoin may be in the buy zone, but the demand signal still looks weak. David and Mike debate whether the bottom is already in, why ETF outflows and muted buyer interest matter, what realized losses and realized cap are signaling, and whether BTC needs one more painful reset before the next real opportunity. ---- 📣GALAXY | INSTITUTIONAL DIGITAL FINANCE https://bankless.cc/Galaxy ---- 🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE https://thedefireport.cc/tdr-yt https://thedefireport.io/friends https://thedefireport.transistor.fm/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 2:01 Pain, Patience, & Cycles 5:03 Shallower Drawdowns? 7:22 ETF Flows and Demand 9:34 Saylor’s Canary 15:32 Realized Losses Review 23:00 Bitcoin Versus Nasdaq 25:23 AI Bubble Meets Crypto 28:37 Oil, War, & Inflation 33:25 Hyperliquid’s Market Split 38:28 $LIT & $WLD Momentum 40:42 Pro Portfolio Playbook ---- Not financial or tax advice. For educational purposes only.