Bits + Bips: Why XRP Might Have Been The ‘Most Hated’ Rally Ever - Ep. 744

In this episode of Bits + Bips, hosts James Seyffart, Noelle Acheson, and Ram Ahluwalia are joined by Alex Thorn, head of research at Galaxy Digital, to discuss the surprising mainstream buzz around XRP’s latest rally, dubbed the “most hated rally in crypto.”
They also analyze the new Treasury Secretary’s ambitious economic plan and what it could mean for inflation, fiscal discipline, and market stability. Meanwhile, Ethereum struggles to reclaim its narrative as the go-to blockchain, even as its ETH/BTC ratio shows signs of life.
And in a moment that captures the personal side of crypto’s rise, the team reflects on Thanksgiving table conversations, where bitcoin and digital assets became unexpected stars.
Show highlights:

Why the newly appointed Treasury Secretary might be the right person for the job

Whether the December rates cut is unnecessary

How Marc Andreessen brought Operation Chokepoint 2.0 to the spotlight

How Facebook’s project Libra would have benefited the US Dollar hegemony

Whether the U.S. Congress will pass stablecoin legislation in 2025

Why Ram believes Ryan Selkis would be a good Crypto Czar

How people have been asking more about bitcoin during Thanksgiving

Whether the XRP rally is a negative indicator

What James thinks about the filings for news ETFs, such as WisdomTree’s XRP

Why Alex thinks that ETH could continue its recent rally

The impact of MicroStrategy being added to the Nasdaq-100, aka the QQQ ETF

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence

Ram Ahluwalia, CFA, CEO and Founder of Lumida

Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter

Guest:

Alex Thorn, Head of Firmwide Research at Galaxy Digital
Links
Politics

Unchained:

Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary

The Trump-Connected Brad Bondi Is A New SEC Chair Contender and Pro-Crypto

Investing: How Scott Bessent Plans to Reshape the US Economy with His 3-3-3 Rule

Macro
Investing: US manufacturing improves in November as orders rebound, input price gains slow

Operation Chokepoint 2.0

Forbes: How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses

Marc Andreessen and the CFPB: Debunking the Debanking Debunkers by Nic Carter

Unchained: Regulators Are Limiting Banks Serving Crypto Clients. Does That Violate the Law?

Unchained: Killed By Politics, Ex-Diem Boss Says of Meta’s Stablecoin

XRP

Unchained:

XRP Becomes the Top Traded Token on Binance and Coinbase, Hits Almost 7-Year High

XRP Rallies 70% in a Week to Top Solana, Tether Market Cap

The Block: WisdomTree files with SEC for spot XRP ETF

Ethereum
Unchained: Ether Gains 19% Against Bitcoin in a Week After Months of Underperformance

Timestamps:

00:00 Intro

02:15 Why the new Treasury Secretary could reshape the economy

06:28 Is a December rate cut unnecessary?

15:18 How Marc Andreessen spotlighted Operation Chokepoint 2.0

19:54 The missed opportunity of Facebook’s Libra for USD dominance

26:48 Will stablecoin legislation finally pass in 2025?

31:28 Why Ram thinks Ryan Selkis should be the “Crypto Czar”

34:45 Bitcoin conversations taking over Thanksgiving dinner

39:48 Is the XRP rally a red flag for the market?

48:15 James’s take on new ETF filings like WisdomTree’s XRP

55:48 Why Alex believes ETH could extend its recent gains

1:01:37 What MicroStrategy’s NASDAQ addition means for crypto

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