Risk On

Risk On

The "Risk On" Podcast is hosted by anonymous creator Arbitrage Andy who founded the popular financial media brand and best selling Substack Arb Letter. In an era where mainstream media often falls short, this podcast offers a direct lens into the rapidly changing global landscape of geopolitics, financial markets, and crypto. Join Arbitrage Andy as he dives into topics that matter, delivering honest, raw, and thought-provoking commentary while bringing on guests who are leaders in their chosen fields, offering valuable insights to forecast the direction of the world.

Episodes

August 28, 2025 47 mins

In Episode 37, Andy sits down with Mark Mi, Head of Partner Development, VC & Investor Relations at the NEAR Foundation, to unpack the evolution of crypto, the future of NEAR Protocol, and why user-owned AI could reshape the entire industry.

Mark shares his journey from consulting at Ernst & Young and family office investing to diving deep into crypto during the ICO boom, through DeFi summer, and now into the AI x blockchain...

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In this episode Arbitrage Andy dives head-first into one of the most explosive weeks in crypto history, with Bitcoin blasting through $123K and Ethereum primed for a run at new all-time highs.

He breaks down the latest institutional flows, corporate treasury buys, and ETF momentum, then runs through his full altcoin roster—BTC, ETH, LINK, AAVE, AVAX, SOL, PEPE, ZYN, NEAR, AERO, and SUI—covering catalysts, recent announcements, and ...

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In this special episode of Risk On, Arbitrage Andy sits down with Carson Becker — freelance journalist, WWII historian, and contributor to The Spectator — for a wide-ranging conversation spanning personal sovereignty, social media censorship, and the collapse of traditional narratives. They cover the origin story of the Arbitrage Andy brand, the grind of early finance careers, and why anonymity still matters in today’s digital age.

...

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Andy breaks down why we are on the cusp of a potentially parabolic crypto run — from massive ETF inflows and bullish regulation (Genius Act, Clarity Bill, and Anti-CBDC push) to Wall Street banks like Citi and Bank of America finally diving into stable-coins. He covers market structure, asset rotations, and why Ethereum’s surge is the signal everyone’s been waiting for.

Andy reviews his top altcoin picks (Chainlink, Aave, Avalanche,...

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In this episode of Risk On, Arbitrage Andy is joined once again by Will Tanner, co-founder of the American Tribune, for a wide-ranging and blunt conversation on America’s internal unraveling and rising global threats. They kick off with Zohran Mamdani's shocking rise in New York City politics—a socialist mayoral candidate backed by unexpected coalitions—and unpack what it signals about cultural fragmentation, ideological captur...

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In this episode, Andy dives into one of the most urgent and volatile weeks of 2025, covering a double-barreled crisis of domestic unrest and Middle East escalation. He opens by addressing the wave of riots and protests breaking out across U.S. cities, sparked by anti-ICE enforcement operations and fueled by coordinated left-wing networks, NGO interests, and even billionaire Walmart heiress Christie Walton. He revisits the concept o...

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In this hybrid episode Andy first gives a run down of the recent move to leverage Erik Prince (founder of private military company Blackwater) to Haiti to quell gang violence, the University of Michigan Chinese Espionage case, in which two individuals smuggled an agricultural weapon into the US that could have devastated crops and livestock, and touches on the implications of Ukraines daring strike deep inside Russia.

In the second...

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In this episode, Arbitrage Andy breaks down a packed week across markets, crypto, and geopolitics—starting with Nvidia’s knockout earnings, where revenue soared 69% YoY to $44.1B. Despite a $4.5B China-related export hit, margins stayed strong, guidance impressed, and investors sent NVDA higher in after-hours. Andy explains why this isn’t just good for Nvidia, but a potential catalyst for AMD, SMCI, and the broader AI ecosystem.

He ...

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In this episode, Andy breaks down one of the most pivotal weeks in crypto and global markets this year. JPMorgan just settled tokenized treasuries on a public blockchain using Chainlink and Ondo, while Coinbase officially joins the S&P 500 — a major milestone for the industry. Andy unpacks what this means for tokenization, infrastructure plays, the coming bull market, and how institutional capital is changing the game.

Plus he c...

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In this episode of Risk On, I sit down with Albert Castellana, CEO of GenLayer, to break down what the future of AI-powered systems actually looks like. We dive into how GenLayer is building the infrastructure for a world where AI agents don’t just support human workflows—they replace them, transacting, negotiating, and executing directly with each other on-chain.

Albert explains how GenLayer’s “intelligent contracts” expand on trad...

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In this episode of Risk On, Arbitrage Andy sits down with Patrick Curtis, the founder of Wall Street Oasis — the internet's most iconic finance career platform. They trace Patrick’s journey from Investment Banking at Rothschild and then Private Equity to building a powerhouse community for millions of aspiring financiers. Patrick shares how WSO evolved from a niche forum to a full-scale prep ecosystem offering elite coaching, resum...

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Arbitrage Andy discusses the recent murder of Austin Metcalf at a track meet in Texas and what it says about the state of US society. He covers similar events as well as the claim of self defense people are likening to the Kyle Rittenhouse case. Andy explores the growing role of politically charged violence in the US, demonstrated most recently in the molotov attack on Governor Josh Shapiro's home. He ends with an update on scr...

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Andy sits down with Peter Tuchman, known as the Einstein of Wall Street and the New York Stock Exchange's Most Iconic Trader. With 40 years of experience at the NYSE Peter reflects on the craziest days in markets and lessons learned along the way including the crash of 1987. Peter walks listeners through the early days on the trading floor and the technological changes that have occurred in markets and exchanges. Andy and Peter...

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Andy wraps up the week in this short episode covering major market news as well as the latest from the US Federal Reserve. He covers hedge fund performance in 2025 so far, the crime wave aimed towards Tesla Owners, and the recent defense contract given to Boeing for a sixth-generation replacement for the U.S. Air Force’s F-22 “Raptor” Stealth Fighter. Additionally Andy speaks on EDF's recent CEO replacement, the Doordash initiative...

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Andy sits down with Random Recruiter, a top headhunter with a focus on the tech sector who’s placed over 700 professionals at Fortune 500s, startups, and mid-market firms across banking, financial services, telecom, healthcare, and pharma. Andy and Random discuss how he got into recruiting, what it takes to source the best candidates, and how companies are shifting their hiring practices. Andy and Random talk AI roles, finance, typ...

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In this episode, Andy dives into the growing revelations of corruption within U.S. intelligence agencies, including new whistleblower reports exposing evidence destruction at the FBI and political bias within federal agencies. He also covers the long-anticipated release of key documents in the Jeffrey Epstein case, which could finally shed light on high-profile names linked to his network. In the markets, Andy breaks down the lates...

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Andy provides an overview of the breaking USAID (United States Agency for International Development) scandal uncovered by Elon Musk's DOGE and the Trump Administration, in which US taxpayer funds were being used to further far left ideology globally, support CIA operations, influence mass media, and enrich US politicians. From Cuba to Slovakia, Ukraine to Afghanistan, Americans will be shocked to hear where their money was goin...

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Andy sits down with John LeFevre former Salomon Brothers and Citigroup banker, author of The New York Times bestseller Straight To Hell, and owner of the popular Twitter/X account Goldman Sachs Elevator. They kick things off by revisiting John’s career in global finance—from climbing the ranks at Citigroup to managing deals across New York and Hong Kong—and the moments that led him to walk away from it all.

The conversation turns t...

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Andy dives into the sweeping changes from Trump’s second administration, including the Ross Ulbricht pardon, federal DEI overhauls, and a renewed focus on illegal immigration, highlighting the cultural and political shift. He unpacks Bank of America’s latest scandal and its impact on financial freedom, alongside the resurgence of crypto, with regulatory clarity emerging from the SEC and Trump’s executive order targeting CBDCs. Andy...

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Andy talks about the growing online debate surrounding job opportunities, boomers vs. young people, and the advent of AI and job automation including a key snippet from Goldman Sachs. He covers the beginning of the end for DEI and woke culture, touching on major updates from Google, META, and federal agencies. Andy wraps up with important developments in the crypto market including Trump Administration Bitcoin Reserve rumors, alt c...

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