When Shift Happens Podcast

Hosted by Kevin Follonier

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186

Latest episode

Aug 2026

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EN-US

About the show

I sit down every week with the most based people in crypto. My goal is to create a safe space to have the deepest and most real conversations with the biggest builders and investors in the industry, as well as to help educate the mainstream people, politicians, celebrities and big Web2 entrepreneurs coming into Web3. Hopefully this platform does its little part in onboarding as many people as possible into the incredible world of opportunities that Web 3 offers, while staying true to crypto’s core values and ethos. Thank you for watching.

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September 10, 2026Episode 1851 hr 28 min

E185: Variational CEO: This Hidden Fee Is Quietly Draining Your Crypto Account

Lucas Schuermann is the founder and CEO of Variational, a peer-to-peer derivatives protocol built on Arbitrum. Former Genesis executive, former quant, and someone who went to Columbia at 12 and started a hedge fund at 20. Today we get into why variational charges zero trading fees, how it's aggregating liquidity from traditional finance to list hundreds of assets on chain, why perps have a funding rate problem most traders don't understand until it costs them, and what happens to old-school brokers once this liquidity actually moves. ___________ THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/ ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ FOLLOW VARIATIONAL 👇 • Twitter: https://x.com/variational_io • Linkedin: https://ky.linkedin.com/company/variational FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. Timestamps 0:00 Intro 2:20 Merch, Travel & Being Back in Singapore 5:13 Who Is Lucas Sherman? 5:24 How Lucas Thinks About Building Trust 6:03 Starting College at Age 12 8:26 How Do You Actually Skip That Many Grades? 9:45 Making Friends Six Years Younger Than Everyone Else 10:40 Are You Still a "Weirdo" at 30? 11:40 Starting a Hedge Fund at 20 - "Hubris of the Young" 14:09 From Paper-Reading Group to a Real Fund 16:50 Acquired by Digital Currency Group at 21 18:59 Why Sell the Fund to DCG? 19:54 Sponsors: Variational & Bitwise 20:47 Did You Regret Selling That Early? 21:51 The Money DCG Made Off Their Work 22:38 Starting a Market Making Firm 24:46 Explain Variational Protocol to Your Mom 26:49 Biggest Mistake Building Variational 28:13 The "Holy Sh*t, We Built Something Massive" Moment 29:54 Reason #1: Zero Fees 32:59 How Do You Trust the Price With Only One Market Maker? 34:33 Are Trading Fees a Scam? 35:29 How Much Do Fees Actually Cost Traders? 36:33 Reason #2: Asset Selection & What "Liquidity" Really Means 40:20 Why Hasn't Crypto Solved This Already? 42:39 Where On-Chain Order Books Break at Scale 46:04 Sponsor: KAST 1:07:30 Sponsor: Jupiterexchange & Ethena

September 2, 2026Episode 18558 min

E185: Ethena CEO: This $7B Crypto Company Just Launched An App That Pays You To Spend Money

Guy Young built Ethena from zero to billions in under two years. In this conversation, we talk about the one crypto product he believes can reach 100 million users: a yield-bearing dollar in a mobile app. The goal is for it to feel like a normal fintech app where users don't even know crypto is powering it underneath. Just save, spend, and send to anyone in the world. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ Follow Guy Young • Twitter: https://x.com/gdog97_ FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 2:37 Which Of Guy’s Plans Didn’t Work Out 5:37 Where Are The Users People Are Trying To Obtain 7:10 What Excited Guy About Crypto 9:20 Differences Between PayPal, Revolut, & Neo Banks 12:43 Partnerships: @Variational @BitwiseInvest 13:36 Revolut vs Stable Coin Neo Banks 15:58 Is Swapping To Neo Banks A 10x Improvement 18:00 Ethena Pay Explained Simply 21:21 Why Another Crypto Neo Bank 23:53 Will A Fight For The Pie Happen With Crypto Banks 25:55 How Ethena Gets Users When It Can Help Everyone 32:47 What Makes Ethena Different 36:51 Ethena’s Cashback System Revealed 38:32 Guy’s Thoughts On How Ethena Reduces Fees 39:39 How Ethena Gets The Best Yield 45:16 Guy’s Opinion On Dealing With FUD 48:35 Why Guy Doesn’t Communicate A Lot 49:29 Partnership: @KASTxyz 50:17 What KPI Is Ethena Looking To Hit In 2026 51:55 The Holy Grail For A Stable Coin Neo Bank 52:31 Partnerships: @JupiterExchange @Ethena 53:14 If Everyone’s Doing The Same Thing, Who Wins 55:23 The Next Big Thing For Ethena After Ethena Pay 56:36 Is Ethena Pay Like USDE 58:04 Closing Thoughts

August 27, 2026Episode 1841 hr 32 min

E184 | Trezor CTO | How Quantum Computers Could Empty Every Bitcoin Wallet

Trezor's CTO, Tomáš Sušánka, breaks down how AI is changing the scam landscape and why even security experts are getting fooled. From AI deepfake Microsoft Teams calls to voice cloning and phishing sites that nearly caught the CTO himself, this conversation covers the modern security playbook everyone needs for 2026. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com ___________ Follow Tomáš Sušánka • Twitter: https://x.com/tsusanka FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 2:07 Does Tomas Like To Talk 4:15 What Does Tomas Do & Why 5:15 How Much Does Bitcoin Matter To Tomas 6:28 Why Should People Still Care About Bitcoin 8:25 Who Is Tomas Sushanka 10:10 Why Humans Are So Bad With Security 12:58 Tomas’s Thoughts On People Downplaying Risk 14:27 How Should One Think About Risk 15:25 Does Intelligence Play A Role In Risk 16:54 Why Do Smart People Fall For Scams 23:39 How Do We Fix This Scam Problem 25:12 Partnerships: @Variational @BitwiseInvest 26:05 Which Security Mistake Would Tomas Remove 28:57 How Tomas Protects His Assets 29:49 What’s The Craziest Hack Tomas Has Seen 31:24 A Security Habit That Makes Tomas Look Crazy 32:27 Why Someone Should Care About Self-Custody 36:05 When Should People Look Into A Hardware Wallet 37:48 A Strategy For Hardware Risk Management 44:16 How Does One Manage The Inheritance Problem 46:29 Should People Keep Assets On An Exchange 47:32 Partnership: @KASTxyz 48:20 What Security Setup Should Kevin’s Grandma Use 50:08 Things To Can Do To Prevent Hacks & Scams 1:01:57 Should People Upgrade Their Trezor Wallets 1:05:28 How Self-Custody Will Evolve & Not Be Archaic 1:08:07 Partnerships: @JupiterExchange @Ethena 1:08:50 The Biggest Problem With Self-Custody 1:09:52 Is Quantum Computing A Worry For Crypto 1:14:48 Who’s Taking Quantum Computing Seriously 1:20:41 Who’s Securing Bitcoin Against Quantum Risk 1:23:58 A Crypto Belief That Tomas Disagrees With 1:26:12 Is There A Future For Digital Identity 1:27:56 Could Self-Custody Become Too Complicated 1:28:42 Dangerous Advice Tomas Had Heard Before 1:29:43 Does AI Make You Safer Or Vulnerable 1:31:25 Closing Thoughts

August 20, 2026Episode 1831 hr 25 min

E183: Jupiter COO: Getting Rich In Crypto Has Nothing To Do With Luck

Jupiter COO, Kash Dhanda, breaks down the real playbook for building wealth in crypto without luck, memecoins, or moonshots. He explains why we're still in the early majority phase of crypto adoption, why Solana is becoming the everything chain, and why he personally keeps over 50 percent of his portfolio in stablecoins earning yield. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ CONNECT WITH KASH DHANDA Twitter: https://x.com/kashdhanda Twitter: https://x.com/jupiterexchange FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 2:10 Crypto Middleman Discussion 4:46 Where Crypto Currently Sits Within TradFi 7:59 Who Is Kash Dhanda 9:26 What Was Kash’s Role On SuperTeam 11:42 Why Kevin Became So Bullish On Solana & ZCash 13:02 What Is The Concept Of Infinite Capitalism 16:07 Partnerships: @Variational @BitwiseInvest 19:15 Kash’s Opinion On Memecoins 21:27 Why Even Hold 10% For Random Investing 24:15 How Can People Get Rich In Crypto Without Luck 27:25 The One Way To Compound Wealth In Crypto 28:33 Isn’t Yield Not Worth It For Crypto Investing 31:14 Why Go All In On Stablecoins 40:10 Partnership: @KASTxyz 43:21 Is Solana Rising From The Ashes 47:09 What’s Solana Bad At Toda 51:01 Solana’s Thesis In 2026 52:23 Is SOL Becoming Future-Proof 54:07 What Is Jupiter Today 56:13 Why JUP Token Is Powered By Ethena 57:19 Why Does Jupiter Need A Stable Coin 1:00:05 How JUP Is Able To Give Yield 1:03:20 What Is Jupiter Spend 1:04:58 Partnerships: @JupiterExchange @Ethena 1:05:42 The Advantages Of Using Jupiter Spend 1:07:39 Gum Global Unified Markets Explained Simply 1:10:20 What Other Things Will Gum Help With 1:12:30 Does Solana Doing Well Benefit Jupiter Heavily 1:14:45 Why JUP Didn’t Do Well Last Cycle 1:17:21 The Changes Jupiter Is Making To Stand Out 1:19:23 Should We Be Bullish On JUP Token 1:23:28 One Takeaway From This Conversation 1:24:15 Closing Thoughts

August 13, 2026Episode 1821 hr 7 min

E182: Jordi Visser: Wall Street Is All In On AI, But He's Buying Bitcoin Instead

Jordi Visser, macro strategist at 22V Research and former Weiss Multi-Strategy CIO, breaks down why Bitcoin is his hedge against a coming age of AI-driven abundance and why he holds no interest in ever selling. He also dives into longevity, heart rate variability, and why chasing money and status like buying a house may be the wrong game to play. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ CONNECT WITH JORDI Twitter: https://x.com/jvisserlabs FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 2:10 Was Jordi Happy With His Weekend & Activities 3:49 How Does One Live Until 100 Years Old 4:31 Why Jordi Is Fascinated With Longevity 5:44 What Kills The Habit Of Living Healthy 7:20 Jordi’s Thoughts On Supplements & Meds 9:51 Partnerships: @Variational @BitwiseInvest 12:17 How Distribution Of Wealth Affects Longevity 14:03 Jordi’s Opinion On Peptides & Hormones 17:47 What Is Heart-Rate Variability 21:21 How Can You Track Heart-Rate Variability 25:12 Jordi’s Findings Within The Finance World 29:10 When Jordi Learned The Concept Of Money 31:58 Partnership: @KASTxyz 32:47 What’s The Point Of Making More Mone 38:20 Does Abundance = More Affordable 38:54 Why Would We Still Need To Build Wealth 41:22 How Jordi Became Fascinated With Bitcoin 47:44 Jordi’s Thesis On Bitcoin Explained Simply 50:10 How Much Of Jordi’s Portfolio Is Bitcoin 50:48 Would Jordi Ever Sell His Bitcoin 51:52 Partnerships: @JupiterExchange @Ethena 52:38 How Big Does Bitcoin Get 54:00 Jordi’s Thoughts On “Bitcoin Is Too Expensive” 55:28 Why Have A Channel About Crypto & Not Bitcoin 56:25 Does Jordi Invest In Other Crypto Assets 57:24 Other Scarce Assets Jordi’s Invested In 58:41 Should 20 Year Olds Work Towards Buying A House 1:02:00 The Difference Between Routine & Unique 1:03:57 Why You Should Prioritize Longevity 1:07:02 Closing Thoughts

August 6, 2026Episode 18558 min

E181 : Scott Melker: How To Get Rich In Crypto In 2026 (Without Getting Lucky)

Scott Melker, host of The Wolf of All Streets, explains why most people chasing quick wins in crypto never make it, and why his own strategy is deliberately boring: mostly Bitcoin, bought on a schedule and left alone. He also opens up about being a top creditor in the Voyager collapse, his first interview with Michael Saylor, and why he thinks crypto Twitter is actively hurting mainstream adoption. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ CONNECT WITH RAAGS Twitter: https://x.com/raagulanpathy LinkedIn: https://www.linkedin.com/in/raagulanpathy/ Twitter: https://x.com/kastxyz Website: https://www.kast.xyz/ FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 1:51 Dressing Up Discussion 2:51 What Helps Scott Stay Optimistic 3:43 Scott’s Thoughts On Failure 4:43 Who Is Scott Melker? 7:00 Why Do DJ’s Go Down The Crypto Rabbit Hole 8:48 What Scott’s Trading Life Was Like 9:56 When Did Scott Go All In On Building In Crypto 11:46 Partnerships: @Variational @BitwiseInvest 12:38 Is Crypto Still Relevant In 2026 16:15 What Scott Invests In 18:50 How Scott’s Opinion On Crypto Gets Influenced 19:58 Scott’s Thoughts On Yield 23:42 How To Improve A Crypto Media Business 26:26 How Scott Stays Excited Even When It’s Boring 28:12 Partnership: @KASTxyz 31:46 Scott’s Advice On Trading Bitcoin 34:17 How Average People Get Rich From Crypto 35:40 A Few Lessons Scott Learned In 2022 38:08 What Other Assets Is Scott Interested In 39:23 Scott’s Most Unexpected But Best Interview 43:06 The Biggest Myth About Investing Debunked 44:13 Partnerships: @JupiterExchange @Ethena 44:57 Scott’s Goal With His Media Company 47:22 What About Scott’s Goal In Life 50:39 Scott’s Learnings From Behind The Scenes 51:59 How Scott Stays Motivated Despite The Bear Market 53:33 Why People Should Be Optimistic About Crypto 57:26 Closing Thought

July 23, 2026Episode 1801 hr 46 min

E180: Kast Founder: The Biggest Crypto Opportunity Of Our Lifetime Is Happening Right Now

Raags, founder of Kast, breaks down the massive crypto opportunity he bet his career on, why he scrapped Kast’s token for tokenized equity, and what really happens to your money if a crypto bank collapses. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com 🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events : https://kalshi.com/category/crypto ___________ CONNECT WITH RAAGS Twitter: https://x.com/raagulanpathy LinkedIn: https://www.linkedin.com/in/raagulanpathy/ Twitter: https://x.com/kastxyz Website: https://www.kast.xyz/ FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 1:58 How Raagulan Prioritizes What’s Done At Kast 4:35 Kast Employees Deal With Major Chaos 5:38 Raagulan’s Theory About Hiring For Kast 7:02 Why Firing People Can Be More Difficult 8:35 An Error That Could Kill Kast 9:52 Convincing A Stable Coin Skeptic 12:06 Why Kast Has To Build Different Departments 18:32 Partnerships: @Variational @BitwiseInvest 19:24 Raagulan’s Thoughts On Fees 21:55 Kast’s Best Customer Type 23:53 Something Raagulan Shouldn’t Say Publicly 29:04 Raagulan’s Experience With GLP-Ones 34:05 Kast Is On Track For $100 Million In Revenue 36:55 Why Kast Hasn’t Blown Up Due To Misspending 41:04 Why Is Everyone Trying To Build Neo Banks 42:52 What’s Difficult About Building Neo Banks 49:14 Kast Isn’t A Card Business 50:43 How Kast Is Building Momentum 56:29 Partnerships: @KASTxyz @Trezor 57:33 Kevin’s Thoughts On Kast 58:59 What Does Kast Do With $80 Million 1:01:55 Would Raagulan Consider Selling Equity 1:08:39 Is Your Money Truly Yours When Inside Kast 1:10:49 What Happens To Your Money If Kast Fails 1:17:38 Pros & Cons Between Non & Self Custodial 1:22:42 Partnerships: @JupiterExchange @Ethena 1:23:26 Should The Kast Community Feel Cheated 1:34:13 What’s This Tokenized Stock Based On? 1:35:25 The Hill Raagulan Is Willing To Die On 1:37:59 Is The Worse Behind Us In Crypto 1:42:57 One Thing To Remember From This Conversation 1:45:16 Closing Thoughts

July 16, 2026Episode 1791 hr 12 min

E179: Helius CEO: These 3 Crypto Coins Are MASSIVELY Underpriced (2026 Cycle)

Mert Mumtaz, co-founder and CEO of Helius, breaks down why he sees Solana and Zcash as two of crypto's most undervalued bets heading into 2026, using his "physics and incentives" framework to separate real conviction from trader noise. He also debunks the recent Zcash security scare, explains why AI is forcing crypto toward "spaceflight-level" security standards, and weighs in on Near's high-upside, low-conviction potential. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS ⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more: https://www.variational.io/ 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com ___________ Follow Mert Mumtaz • Twitter: https://x.com/0xMert_ • Twitter: https://x.com/heliuslabs • Website: https://www.helius.dev/ FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 1:57 Coffee, Zyns, & Sleep Discussion 3:26 Is It Better To Work At Night With ADHD 4:05 How Mert Has A Relationship Despite His Schedule 6:45 Mert On Being A Parent 7:30 How Mert Grew On X So Fast 8:51 Partnerships: @Variational @BitwiseInvest 9:44 Mert’s Experience With SOL’s Price Drop 15:48 The Behind The Scenes With Solana 18:22 How Solana’s Future-Proofing Its Ecosystem 25:47 Why Businesses Will Build On Solana 28:05 Why Solana Isn’t Seen As The Obvious Choice 30:38 Partnerships: @KASTxyz @Trezor 31:43 Mert’s Thesis Behind Solana In 2026 36:42 Solana Will Become The Biggest Financial Economy 42:45 The Timeline On Solana’s Changes Going Live 44:23 Is Solana Making Its Comeback? 47:31 Partnerships: @JupiterExchange @Ethena 48:14 The Zcash Drama Explained 55:39 AI’s Advancement Means Crypto Must Evolve 59:24 What Is Zcash’s Potential 1:04:40 How Is NEAR Special Like Solana & Zcash 1:09:32 Closing Thoughts

July 9, 2026Episode 1781 hr 17 min

E178: Tushar Jain, Multicoin CoFounder: The 3 Coins His Multi-Billion Dollar Fund Is Bullish On This Cycle

Tushar Jain, Managing Partner at Multicoin Capital, breaks down why he believes the crypto market has already bottomed and is entering a new turning point, walking through his conviction plays on Solana, Hyperliquid, and Zcash. He also opens up on Multicoin's biggest shakeup yet: co-founder Kyle Samani's exit from the firm and the industry. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com ___________ Follow Tushar Jain • Twitter: https://x.com/tushar_jain FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 - Intro 1:31 - Who is Tushar Jain 3:44 - Are we at a crypto turning point? 4:57 - Buying into bad news before confirmation 6:24 - Buying vs. selling: which is harder 7:13 - Still bullish on Solana? 9:15 - TradFi issuers and credible neutrality 11:47 - Sponsors: Variational Bitwise 12:39 - How to size two competing bullish bets 14:13 - Category leader vs. "better play" 17:00 - Most obvious trade for 2026: Zcash 19:39 - What Zcash represents 22:27 - Valuing an asset with no revenue 24:18 - Trading framework vs. buy-and-hold 26:40 - Valuing Solana and Hyperliquid 31:45 - Sponsors: Kast, Trezor 32:54 - Timing entries in volatile assets 36:26 - Why Multicoin doesn't trade, only manages 39:25 - The four sources of investing edge 41:14 - Edge examples: Zcash, Hype, Ethena 43:21 - What Ethena represents 45:37 - How much founder quality matters 47:09 - When to take profits 49:50 - Thoughts on Ethereum 51:44 - Kyle leaving Multicoin 53:03 - Sponsors: Jupiter, Ethena 53:46 - Why Tushar is still in crypto 58:26 - Wrap-up and thanks 1:00:37 - Bonus segment intro - Zcash drama + Hyperliquid report 1:00:39 - What happened with the Zcash bug 1:04:13 - Zcash's fix: the Ironwood pool 1:05:50 - How long it took to decide to buy more 1:08:13 - Multicoin's Hyperliquid ($HYPE) report 1:09:55 - Base case: $319 price target, key assumptions 1:15:21 - Is the crypto bottom in? 1:18:11 - Closing thanks

July 2, 2026Episode 1771 hr 9 min

If You Want To Get Rich, Hold Bitcoin - Haseeb Qureshi, Dragonfly Managing Partner | E177

Haseeb Qureshi, Managing Partner at Dragonfly, breaks down the one rule that separates investors who actually get rich from those who don't: staying in the market when everything says to get out. A former professional poker player turned VC, he shares how he survived 2018 and FTX without selling, and why he defended Ethereum and Solana when nobody else would. THE SHIFT NEWSLETTER 💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter ___________ PARTNERS 🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/ 💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus - https://go.kast.xyz/VqVO/SHIFT - promo code: SHIFT 🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence. Buy with 10% off - promo code: WSH10 - https://affil.trezor.io/SH12h 🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/ ⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg. https://ethena.fi/ 🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally. Download the Sumsub Crypto Industry Report 2026 here: https://sumsub.link/osb ♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. https://www.coinsilium.com ___________ Follow Haseeb Qureshi • Twitter: https://x.com/hosseeb FOLLOW WHEN SHIFT HAPPENS Twitter (X): https://x.com/KevinWSHPod Instagram: https://www.instagram.com/kevinfollonier_ TikTok: https://www.tiktok.com/@kevinfollonier_ Linkedin: https://www.linkedin.com/in/kevinfollonier/ Website: https://kevinfollonier.com/ DISCLAIMER The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome. 0:00 Introduction 1:55 Studio & Show Discussion 3:30 How Hasseb Feels In Life 4:51 Why All The Og’s Are Leaving Crypto 7:39 How Do You Last In Crypto 9:39 Biases That Crypto Investors Try To Trick You With 11:20 Partnerships: @Trezor @BitwiseInvest 12:06 Major Lessons Haseeb Learned At Silicon Valley 17:51 Why Haseeb Compares Crypto To Tech 21:29 What Crypto Is All About 24:35 Haseeb’s Meaning Behind Believing In Exponentials 30:51 Partnership: @KASTxyz 31:39 How Haseeb Sees Crypto’s Future Becoming Huge 40:54 Does Haseeb Ever Sell Major Tokens 41:28 More Oh Haseeb’s Personal Finances 42:04 Haseeb’s Thesis On Bitcoin + Exponential Growth 48:29 What Does Bitcoin Look Like Once Saturated 51:10 Partnerships: @JupiterExchange @Ethena 51:53 Why Haseeb Defends ETH & SOL 58:07 When Has This Growth Story Thesis Been Wrong 1:02:31 Where HyperLiquid Fits: Growth Or Revenue 1:04:05 Should People Stay In Crypto? 1:08:31 Closing Thoughts