Editorial companion

What stands out

Scott Melker started with a simple observation: Bitcoin barely moved after a major Federal Reserve decision, and that silence may be bullish rather than boring. The episode ties that muted reaction to a wider theme, crypto platforms becoming full financial ecosystems, with Robinhood now earning more from prediction markets than from crypto trades. Microsoft’s artificial intelligence (AI) beat and the Clarity Act chatter show regulators and big tech are reshaping where crypto revenues come from, so product mix and platform reach matter more than every macro headline.