This episode was recorded live via X Spaces - audio quality varies in places.

Recorded June 4, 2026, the latest CF Benchmarks live X Space finds Head of Research Gabe Selby, CFA joined by Research Analyst Mark Pilipczuk, Kraken Chief Economist Thomas Perfumo, CFA, and CF Benchmarks Product Manager Jen Wang, with special guest John Todaro, Managing Director of crypto and AI/HPC equity research at Needham.

With Bitcoin near $63,500 after thirteen straight days of ETF outflows, the panel works through what a tightening capital markets backdrop, renewed rate-hike risk, and an unresolved US-Iran oil shock mean for digital assets. The conversation turns to why public Bitcoin miners are racing to become AI infrastructure landlords, how MicroStrategy and the new wave of treasury companies are faring under pressure, and where genuine fu ...