Why Crypto May Be The Bigger Opportunity Than AI w/ Farokh

**Farokh** (0:00)
I don't know what else to do with my life, but to build something in this industry.

**LGD** (0:06)
What's up, everybody? It's LGD Set here, and welcome to The Milk Road Show, the daily crypto show that didn't sell in May and go away, even though we probably should have. Today is May 19th, 2026 Listen, it's not easy being in crypto, okay? You guys, our loyal listeners, know this as we've documented this bear market for almost eight months now. Many of us can't help but look sometimes across the street at the stock market and wonder, why are we still here on this side? They're having a lot of fun there. Well, this episode is for you. My guest today is the president of one of the biggest media companies in the space and like me, he's been a crypto podcast host for a very long time. His positive energy infects everybody he meets and unbeknownst to him, we have actually been on a Twitter spaces years ago, five years ago together and I'm going to reveal that to him today on the show. Farokh, the head of Decrypt Media, Myriad Markets and the host of Rug Radio and Fomo Hour is on the show with us today. Today's episode is brought to you by Cape, the privacy first mobile carrier, Pharos, the layer one built for RealFi, and Nexo, earn interest, borrow and trade crypto. Farokh, what's up man? First time talking in five years, but I don't know if you remember, it was the late night spaces.

**Farokh** (1:07)
I love that. Well, thank you for having me. I've definitely seen it around. You used to be around in the NFT days.
I have talked to a lot of people, especially late night on those spaces. But I do remember the name. I do remember the Franco-Canadien name.

**LGD** (1:24)
It was when Nate from OpenSea, when the accusations broke against him. Deez and Peter Jennings and a few other guys were hosting a space and I hopped on and you were on. There's a few other people on, but we did briefly chat and that's a long time ago, man. That is a really long time ago, but good to see you again. This will definitely be our longest conversation ever. I'm excited to dive into it with you.
Let's talk about what's going on right now, man, because I feel like you are such a magnet for positive beliefs for people really believing in the space. You recently tweeted something that caught my eye, which was that you refuse to convert to stocks and that you are in it in crypto for the long term. Tell me about that, man. That's a very interesting last couple months for someone thinking about it that way.

**Farokh** (2:15)
Yeah, I mean, it's been a crazy cycle, I would say, or at least bear cycle right now. I do think it's like this bear market is more fun than the last 2021 in a way, because there's still a lot of opportunity in the air, even with the rise of prediction markets, which I'm sure we'll get into with Myriad and everything in a second. So I don't want to go there yet, but that's huge. And during this bear and downtrend, they have been only growing. So there's that, which has added this level of fun, I guess, into the industry.
And then, you know, kind of like, you and I were riffing off on offline. You know, you have the hypes, you have the Zcatches of this world, and you have a lot of fun things going on. So while, like, you know, the market's not great, like, you know, we're are getting a lot of clarity in terms of, like, the market in DC and regulation. And at the same time, we do have more adoption, more institutional adoption. People love to say there's no retail, but actually there's a lot of stuff going on. So, you know, it's been an interesting one, you know, to follow.

**LGD** (3:15)
What do you tell? Like, I feel like, you know, you're probably a very social person. And I struggle with this as well. Like, when you talk to people IRL, and you explain what you do, and they're like, oh, man, crypto. And maybe you talk about prediction markets. But when you talk about crypto, like, what?
And people, like, probably push back and be like, man, you know what the trade was, was AI. Like, what is kind of like, what is your argument there for crypto still having a lot of life going forward? Because I think a lot of people, especially retail side, are like, listen, man, I'm not getting back into that shit. I've torched it at some point or like it's totally dead, it's scams or whatever. What is your current day argument for like, why this thing, why this whole thing, we still have a lot of legs?