Institutional adoption of crypto is here, but the "nightmare" of counterparty risk still keeps many major players on the sidelines. In this episode, Mark Longo sits down with Gideon Hyams, co-founder and chairman of STS Digital, to discuss how they are bridging the gap between traditional finance (TradFi) and the wild world of crypto derivatives.

Gideon shares his journey from the legendary O'Connor market-making desks to the crypto "dark side," explaining why STS Digital is now making markets in over 400 different tokens. We dive deep into:

• The Evolution of Skew: How the "Ibit" effect has fundamentally changed Bitcoin volatility and why Ethereum might be the better play for tail-risk protection.

• Solving Counterparty Risk: The importance of regulated jurisdictions like Bermuda and institutional-grade custody integration with BitGo and Fireblocks.

• Exotic Options & Structured Products: Moving beyond simple covered calls to risk reversals, reverse knock-outs, and yield-enhanced notes.

• The Altcoin Universe: Why the Central Limit Order Book model fails for long-tail assets and how RFQ (Request for Quote) systems are saving the day.

Later in the Bitcoin Breakdown and Altcoin Universe segments, where we look at the "summer lull" hitting the markets, the current state of Bitcoin and ETH volatility, and the latest moves in Solana, Circle, and even Shiba Inu.

The "Fear Gauge" has officially arrived in the crypto world. In this episode, Mark Longo welcomes Rob Hocking, Global Head of Derivatives at Cboe, to the Hot Seat to break down the launch of the Cboe Bitcoin Volatility Index (BITVX).

In this episode, we explore:

• The BITVX Reveal: How Cboe is using IBIT (iShares Bitcoin Trust) options to calculate a 30-day forward-looking volatility metric for Bitcoin.

• Institutional Shift: Why Bitcoin is evolving from a retail "crypto trade" into a legitimate macro asset class.

• The SKU Flip: How IBIT options have fundamentally changed the "call wing" dynamics of Bitcoin volatility.

• Tradable Volatility: Is a tradable Bitcoin VIX future on the horizon? Rob shares the technical hurdles and Cboe's vision.

• Cboe's Crypto Ecosystem: A look at Bitcoin Index options (MBT/CBT), perpetual futures, and the potential for crypto prediction markets.

Plus, Mark breaks down the weekly Bitcoin Breakdown, covering the recent rally to $76k, the cooling of bearish skew, and heavy put-spread activity in the IBIT tape.

Is the volatility dream dead, or is Bitcoin just growing up? In this episode, host Mark Longo is joined by Mr. Bill Ulivieri of Cenacle Capital Management to break down a surprisingly "sleepy" couple of weeks in the digital asset space.

As Bitcoin rallies toward the $72k mark, the crew explores why implied volatility (IV) is cratering and whether BTC has officially transitioned into a "risk-free" asset suitable only for "widows and orphans."

In this episode, we dive into:

• The Bitcoin Breakdown: BTC's climb to $72,352 and why 30-day IV has dropped nearly 10 points.

• IBIT Analysis: How the flood of equity flow into Bitcoin ETFs is "killing the juice" for option traders.

• Altcoin Universe: A look at the Top 10 market caps, the persistence of Tron, and why Ethereum feels like the "next TLT."

• The "Degen" Corner: Introducing C-CUP (the T-Rex 2x Long Daily Target ETF) for those who find Circle too boring.

• Stacks (STX): Why Bill is eyeing this "forgotten" token as a massive AI + Bitcoin infrastructure play.

• Mainstream Adoption: The impact of the new Visa Bitcoin Rewards card and what it means for annual supply.

Can you buy a home without selling your Bitcoin? On this episode of The Crypto Rundown, host Mark Longo welcomes Josip Rupena, CEO of Milo, to explain the world of crypto-backed mortgages. We dive into how BTC and ETH holders can bridge the gap between digital assets and real estate without triggering taxable events or losing out on future appreciation.

What's Inside this Episode:

• The Crypto Hot Seat: Josip Rupena breaks down the mechanics of the world's first crypto mortgage and how $100M+ in transactions are changing the lending game.

• Risk vs. Reward: How do these loans handle 60%+ drawdowns in Bitcoin? We discuss LTV (Loan-to-Value) ratios, margin calls, and custody options.

• Bitcoin Breakdown: A deep dive into the latest data from Amber Data. We analyze the recent BTC sell-off to $66k, shifting volatility, and why the long-term upside premium seems to be disappearing.

• Altcoin Universe: Quick hits on ETH flirting with the $2k level, the massive 30% correction in Circle (CRCL), and whether Doge or Shiba Inu will ever buy you a house.

Links & Resources:

• Learn more about Milo: milo.io

• Get Granular Data: intelligence.amberdata.com

• Join the Pro Community: theoptionsinsider.com/pro

Is Bitcoin finally decoupling from Gold as a flight-to-quality asset? Join Mark Longo and Greg Magadini from Amberdata as they break down the 75K "magnet" level and the surge of "Hype" in the top 10.

Full Description: In this episode, we dive deep into the shifting dynamics of the crypto derivatives market amidst global volatility. As the Middle East conflict influences traditional assets, we examine why Bitcoin is showing relative strength against Gold and what dealer positioning at the $75,000 strike tells us about the next move.

Key topics include:

• The Bitcoin Breakdown: Analyzing the $65K–$75K consolidation range and the impact of extreme backwardation.

• Dealer Positioning: Why the 75K calls are acting as a "magnet" for price action.

• Altcoin Universe: The rise of Hyper Liquid (HYPE) into the Top 10 and why Solana (SOL) remains a favorite for "responsible yield."

• The Volatility Surface: Exploring the negative spot-vol correlation and the impact of IBIT options on the skew.

• Stablecoin Velocity: A deep dive into USDC (Circle) vs. Tether and the future of 24/7 blockchain settlement.

Featured Guest: Greg Magadini, Director of Derivatives at Amberdata.

Bitcoin is back on the move, and the options market is telling a new story. Following the FIA Boca conference, we're digging into the data to see if this rally has legs.

Topics discussed:

• Market Update: Bitcoin's run toward $75k.

• The Greeks: Weekly vs. Monthly volatility shifts.

• ETF Impact: Analyzing the massive IBIT options volume.

• Altcoin Rundown: Price action in ETH, SOL, Doge, and Shiba Inu.

Brought to you by Amberdata. Visit amberdata.io to download the digital asset data guide.

The Crypto Rundown 310: COIN Hysteria, Jane Street Algos, and Bitcoin Conspiracies

Is Bitcoin being suppressed by institutional algorithms? This week on The Crypto Rundown, Mark Longo and Bill Ulivieri of Cenacle Capital Management dive into the "Jane Street Conspiracy" taking Crypto Twitter by storm. We analyze the allegations of 10:00 AM sell-clocks and whether authorized participants (APs) actually have the power to manipulate BTC price action.

In this episode, we break down:

• The Bitcoin Breakdown: BTC nears $69k despite geopolitical madness in the Middle East.

• The Jane Street "Smoking Gun": Is it a tinfoil hat theory or a predictable market-making reality?

• COIN & USDC Hysteria: Why Coinbase (COIN) is decoupling from the broader market and surging toward $100.

• SEC Shift: The significance of Chainlink's (LINK) former counsel joining the SEC's crypto task force in February 2026.

• Derivatives Check: Analyzing the massive 1 million contract A DV in IBIT options and the shift in volatility skew.

Connect with us:

• 🌐 Data provided by: intelligence.amberdata.com

• 📱 Join the Pro Q&A: theoptionsinsider.com/pro

Is the crypto "retail wave" finally drying up? This week on The Crypto Rundown, Mark Longo and Greg Magadini (Amberdata) dive into a "blood-red" market as Bitcoin slips below $65k and Ethereum struggles to hold key support levels.

We break down the dramatic shift in Bitcoin (BTC) and Ethereum (ETH) skew, analyzing why the 25-delta risk reversal is hitting extreme negative levels not seen since the FTX or Terra Luna collapses.

Key Topics Covered:

• The "Incremental Buyer" Problem: With VCs and ETFs already positioned, who is left to buy the dip?

• Volatility Analysis: Why implied volatility (IV) remains "hunched" while skew is screaming "danger."

• Ibit Options Impact: Analyzing the 1 million contracts per day milestone and the heavy flow on 35-strike puts.

• Altcoin Universe: Deep dives into Solana, Dogecoin, and the "wreckage" in Ethereum (ETH).

• MSTR & MSTU Strategies: Managing "lottery trades" when the underlying goes underwater.

Resources:

• Get granular on-chain data: Amberdata

• Follow the network: @Options on Twitter/X