Too Many Tokens, Too Little Value: What Crypto Got Wrong w/ Matt O’Connor

Milk Road Crypto · Feb 9, 2026 · 35m

In this episode of the Milk Road Show, we sit down with Matt O’Connor, co-founder of Legion, to break down the structural problem facing crypto right now: too many tokens, too little demand. We explore why this cycle looks different from previous ones, how capital flows and leverage are shaping Bitcoin’s volatility, and why forced sellers, not just sentiment, can drive violent market moves.

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