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Panic with Friends - Joe McCann of Asymmetric on Crypto and Unravelling the Current Banking Crisis

Panic with Friends – Investing for Profit and Joy

I’m excited to have my friend Joe McCann on the show. He’s the founder of Asymmetric, a modern-day crypto fund. Joe is one of the smartest people I follow on Twitter and I always read his monthly partner letters. Joe is a successful entrepreneur in the open-source software industry. I called on Joe today to get his thoughts on navigating the crypto space which he has done well the last year as most suffered. The US dollar is ill, regional banks are dying off, interest rates are elevated and the SEC is ‘unfriendly’. Joe catches me up on Bitcoin, stablecoins, credit risk, some companies that excite him and how crypto and the macro have been playing out. I promise you will enjoy the rapid conversation, learn something new and have a better understanding of crypto.

You can listen to the podcast here on Spotify or Apple podcast and now all the episodes are on my YouTube channel as well. You can click subscribe on any of these channels and get the podcast alert each week.

You can also listen right here on the blog:

For more details on today’s conversation read on below…

Guest: Joe McCann

Profile: Founder, CIO, and CEO of Asymmetric

Where to Find Him: LinkedIn | Twitter | Stocktwits

What is Joe Panicked About? Real rates.

Show Notes:

  • Introduction. (00:36)

  • Welcome Joe (06:11)

  • Moving to Portland (06:29)

  • Diving into Asymmetric (10:20)

  • Credit Risk reminiscent of GFC (11:25)

  • Bullish longer term (13:48)

  • Getting in to the crypto space (13:59)

  • Digitization of money (15:30)

  • Open source finance (19:15)

  • Meaningful disruption in finance (19:45)

  • Finances’ ‘Napster’ moment (22:22)

  • Crypto’s Market Cap (24:17)

  • Basic case for Bitcoin (28:18)

  • Behavioral Finance side of crypto (31:38)

  • Panic on real rates (33:12)

  • Are Bank Reserves strong? (34:51)

  • Regional Bank stress (35:15)

  • Costs of borrowing (38:23)

  • Addressing counterparty risk (41:38)

  • When will the Fed ease? (44:43)

  • Two things Joe’s excited about (47:26)

  • Wallet wars (49:05)

  • Incorporating ChatGPT trading (50:55)

  • Stablecoins (54:08)

  • Wrapping up (57:27)

  • Closing thoughts. (57:58)

© Panic with Friends, 2023. All rights reserved.

Host: Howard Lindzon | Producer: Knut Jensen | Researcher: Pete Weishaupt Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures click here.

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