# Warsh, Weekend Trading & the $300M Hack: Crypto's Inflection Points

Page: https://stenobird.com/podcast/cfb-talks-digital-assets-6596525/warsh-weekend-trading-the-300m-hack-crypto-s-inflection-points
Text version: https://stenobird.com/podcast/cfb-talks-digital-assets-6596525/warsh-weekend-trading-the-300m-hack-crypto-s-inflection-points.md
Podcast: [CFB Talks Digital Assets](https://stenobird.com/podcast/cfb-talks-digital-assets-6596525)
Published: 2026-04-24T10:39:58+00:00
Episode link: https://rss.com/podcasts/cfb-talks-digital-assets/2763723
Audio file: https://content.rss.com/episodes/213732/2763723/cfb-talks-digital-assets/2026_04_24_10_17_31_ca6156ce-1b2c-47b0-aa41-43d476af9808.mp3
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JSON: https://stenobird.com/v1/public/podcasts/cfb-talks-digital-assets-6596525/episodes/warsh-weekend-trading-the-300m-hack-crypto-s-inflection-points
Duration seconds: 3220

## Resource

Recorded April 23, 2026. This episode was recorded live via X Spaces - audio quality varies in places. In the second CF Benchmarks live X Space, Head of Research Gabe Selby is joined by Kraken Chief Economist Thomas Perfumo, CF Benchmarks Head of Product Thomas Erdosi, and Research Analyst Mark Pilipczuk for another packed markets discussion. The team breaks down Kevin Warsh's Senate confirmation hearing and what a shift away from forward guidance could mean for rate volatility. They dive into Strategy's accelerating Bitcoin purchases - now at a 16-month high - and whether the NAV premium can sustain the buying machine. The conversation turns to CME's landmark move to 24/7 crypto futures trading from May 29th, and Kraken's acquisition of Bitnomial, giving it the full CFTC license stack that brings regulated perpetual futures to the U.S. for the first time. A deep dive into the Kelp DAO's $292M bridge exploit opens up a broader discussion on AI's dual role as both threat and defence in DeFi security. The team closes with their Q1 factor performance breakdown and a look at the key catalysts ahead. Chapters: 00:00 – Intro & Team Welcome 02:27 – Warsh's Confirmation Hearing: What Did We Learn? 05:58 – Killing the Dot Plot? The Forward Guidance Debate 09:07 – Why Less Transparency Could Backfire on Rates 10:06 – Balance Sheet Reduction: Tough Talk, Tougher Execution 12:19 – Strategy's Bitcoin Buying Spree Hits a 16-Month High 14:52 – NAV Premiums, STRF & the Sustainability Question 18:00 – CME Goes 24/7: A Watershed Moment for Crypto Futures 21:40 – The Weekend Gap Problem 24:27 – Kraken's CFTC License Stack: Spot, Margin & Perps Under One Roof 26:21 – Perpetual Futures Go Regulated in the U.S. 29:31 – Will Perps Eat Fixed-Term Futures' Lunch? 31:51 – On-Chain I…

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## Transcript

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