Inside Plasma with Zaheer: The Future of Stablecoins
Speakers
Zaheer Ebtikar
— Founder/CIO, Split Capital
Summary
Zaheer Ebtikar discusses his move from running a crypto fund to joining Plasma, emphasizing stablecoins as a key use case. He explains the verticalization thesis for blockchains, token value accrual challenges, and compares Ethereum and Solana. The conversation also covers market outlook, including Bitcoin's underperformance and crypto seasonality.
- Zaheer explains shutting down Split Capital due to crypto market consolidation.
- He advocates for verticalized chains like Plasma that focus on stablecoins and own user experience.
- Discussion on token design, transparency, and value accrual in crypto projects.
- Comparison of Ethereum and Solana foundations' different approaches and practicality.
- Analysis of Bitcoin's underperformance, quantum threats, and gold's impact.
- Insights on crypto seasonality and potential summer rally based on historical patterns.
- Emphasis on building real products over speculation for long-term success.
- Mention of Hyperliquid as a successful example of a focused crypto project.
Trade Ideas
Bullish on Hyperliquid due to strong team.
Hyperliquid is a bright star in the crypto space with strong performance potential, as evidenced by their early investment at $3 and subsequent growth, making it a compelling investment due to team quality and market position.
Watch for crypto summer rally seasonality.
Crypto markets exhibit seasonality, with poor performance in winter months and potential for rallies in summer based on historical patterns, suggesting to watch for opportunities in the coming months as conditions may improve.
Up Next
This The Block video, published April 21, 2026, features Zaheer Ebtikar discussing HYPE, BTC. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Zaheer Ebtikar · Tickers: HYPE, BTC