David covers three Wednesday stories: Coinbase laying off 14% of staff, a16z Crypto raising $2.2 billion, and Strategy losing $12.5 billion as CEO Phong Le floats selling bitcoin.

We also unpack the AI-first layoff narrative, the potential return of the infra supercycle ($6B+ raised across crypto VCs in 2026), and why a Cambrian explosion of DATs and ETFs might absorb whatever Saylor has to offload. Enjoy!

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TIMESTAMPS:

(00:00) Intro

(01:17) Coinbase Layoffs

(07:15) Nexo Ad

(07:50) Coinbase Layoffs (Cont.)

(10:30) a16z Crypto Fund 5

(15:17) Nexo Ad

(16:09) a16z Crypto Fund 5 (Cont.)

(22:30) Strategy Losses

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