#138 AI Vaults, Yield Dynamics, and Where Crypto Markets Go Next - James Harris of Tesseract

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firm website: https://tesseract.fi/

firm linkedin: https://www.linkedin.com/company/tesseractinvestment/

X: https://x.com/tesseractcrypto

Timestamps:
00:00 Post-Call Banter: James’ Market Insights & AI Vaults Tease

01:15 Welcome to the All Funds Network Podcast + Guest Intro

01:45 James’ Origin Story: From TradFi Trading to Discovering Bitcoin

04:21 Building in Crypto: Funds, Custody Pivot, and the Road to Tesseract CEO

06:51 Market Recap: October Flash Crash vs. February Sell-Off (What Really Happened)

14:41 Did We Hit the Bottom? Cycles, Macro Signals, and Why Bitcoin Feels “Off”

16:11 Gold & Silver Mania: Narrative Trades and Volatility Comparisons

17:53 AI, Compute, and the Coming Energy Crunch

20:33 What Tesseract Does: Institutional Yield, DeFi Strategies, and MiCA Licensing

22:29 On-Chain Vaults Explained: Transparency, Non-Custodial Asset Management, and EU Compliance Hurdles

26:40 Are DeFi Vault Tokens Securities? The Compliance Problem

27:24 MiCA vs. US Regulation: Building a Cross-Border Framework

29:07 Why Regulatory Clarity Unlocks Institutional DeFi

32:17 Digital Asset Treasuries in 2026: The ETF Competition & Cost Base Trap

35:37 How Bitcoin Treasuries Chase Yield: Options, Lending & Wrapped BTC

39:37 Sentiment at Extremes: Fear Index, FTX Lows, and the Long-Term Thesis

43:31 What “Institutional-Grade” Yield Really Requires (Risk, Ops, Security)

49:17 Black Swans & Staying Useful: Probabilities, Strategy Risk, and Compliant Vaults

51:00 What’s Next: Tokenized Asset Management, Yield Everywhere, and Where to Connect

Disclaimer:

Alt Funds Network LLC and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.