Bankless

Hyperliquid is less than a year old, yet it’s already rivalling Ethereum and Solana in revenue. In this episode, Ryan and Michael from the DeFi Report dive deep into the rise of crypto’s hottest exchange: from its fair-launch token drop to its Binance-like UX, to why whales and builders can’t get enough of it. We cover the project’s inception story, the ecosystem forming around HyperEVM, and the unique buyback model funnelling millions back into its token. Along the way, we unpack tough questions about valuation, decentralization, and regulatory risk. Is Hyperliquid the future of on-chain trading or just another bull market phenomenon? Tune in for a full breakdown of the fundamentals, the risks, and the potential upside. --- 📣SANCTUM | STAKE YOUR SOL https://bankless.cc/Sanctum-report --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen --- TIMESTAMPS 0:00 Intro 1:47 Hyperliquid’s Revenue Surge 6:33 Valuation Questions 13:42 Product Experience & Growth Flywheel 18:16 The Team Behind Hyperliquid 20:14 Ecosystem Expansion 24:33 Decentralization & Risks 33:34 Regulation, AML, and KYC 38:35 Tokenomics & Buybacks 49:18 Valuation Comparisons 57:15 Closing Thoughts --- RESOURCES Michael Nadeau https://x.com/JustDeauIt The DeFi Report https://x.com/the_defi_report Hyperliquid (HYPE) https://x.com/HyperliquidX --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Zach Abrams—co-founder of Bridge, acquired by Stripe—joins Ryan to unpack Stripe’s stablecoin strategy and why tokenized dollars are poised to devour global payments. We cover Bridge’s sale to Stripe, how “fiat L1 / stablecoin L2” rails unlock faster, cheaper cross-border payouts (from startups to government aid), the case for many issuer- and app-specific stablecoins with better yield sharing, and what the Tempo chain targets for payment-scale throughput, privacy, and finality. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen ------ TIMESTAMPS 0:00 Intro 6:28 Zach’s Founder Arc 15:47 Fintech x Crypto Convergence 18:55 Founding Bridge in the Dark Times 22:42 Traditional Payment Inefficiencies 26:21 Bridge 101 42:00 Traditional Bank Pushback 42:17 Stablecoin Treasuries 50:22 Post-Genius Stablecoin Market 59:27 Fintech in 5 years 1:05:01 Tempo L1 1:13:30 Too Many Blockchains 1:17:25 Exiting TradFi 1:20:49 Getting Stablecoins to Trillions 1:25:28 Stripe x Crypto 1:29:44 AI Stablecoin Users 1:32:32 Closing & Disclaimers ------ RESOURCES Zach Abrams https://x.com/zcabrams Tempo https://tempo.xyz/ Bridge https://www.bridge.xyz/ Stripe https://stripe.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

In this episode, we discuss Ethereum's rise past $4,780 and co-host David Hoffman's insights from Burning Man. We explore Ethereum's treasury dynamics, the debut of the World Liberty Financial Token, and potential Bitcoin and Ethereum listings on major exchanges. The episode also covers advancements in tokenized securities, competition in prediction markets, and the quirky rise of tokenized Pokémon cards. Join us for a concise look at the latest in crypto! --- 📣SANCTUM | STAKE YOUR SOL https://bankless.cc/Sanctum-report --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen --- TIMESTAMPS & RESOURCES 0:00 Burning Man 7:30 Markets https://thedefiant.io/news/markets/bitcoin-august-all-time-high-above-usd124k-could-be-cycle-top-coingecko https://www.theblock.co/post/369477/ethereums-monthly-spot-volume-tops-bitcoin-trading-on-centralized-exchanges-for-first-time-in-over-7-years https://x.com/RyanSAdams/status/1962945359988035865 https://www.theblock.co/post/369497/nasdaq-tightens-scrutiny-of-companies-raising-cash-to-buy-crypto-report https://x.com/intocryptoverse/status/1963240688146948108 https://x.com/intocryptoverse/status/1962989752455700874 32:00 WLFI Dropped https://x.com/DonaldJTrumpJr/status/1962485085896323466 https://x.com/worldlibertyfi/status/1960068943562870830 https://www.coingecko.com/en/coins/world-liberty-financial https://governance.worldlibertyfinancial.com/t/proposal-use-100-of-wlfi-treasury-liquidity-fees-for-buyback-burn/41226 https://x.com/worldlibertyfi/status/1962648359681839381 https://x.com/NateGeraci/status/1962634267764166743 https://mail.blockworks.com/p/wlfi-the-token-is-the-product https://x.com/jchervinsky/status/1962884341626773959 38:30 Tempo https://x.com/matthuang/status/1963633379284587017 https://x.com/zcabrams/status/1963640969183859116 45:00 Tokenized Securities https://x.com/OndoFinance/status/1886822778277351608 https://x.com/rleshner/status/1963211892438049172 49:50 Polymarket in US https://x.com/shayne_coplan/status/1963280673709625346 https://www.cftc.gov/PressRoom/PressReleases/9113-25 https://x.com/shayne_coplan/status/1962903170859843759 https://x.com/shayne_coplan/status/1960377824793010489 https://x.com/williamlegate/status/1963386120471003607 https://x.com/allanmaman/status/1963406022183465032 55:14 Tokenized Pokemon https://x.com/Collector_Crypt 58:49 Credit Score https://x.com/mattyTokenomics/status/1963009390342242327 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Austin Campbell (NYU) and Omid Malekan (Columbia) debate a simple question: is Ethereum ready to host real-world assets? They walk through stress tests—what if an exchange is hacked, a stablecoin breaks, or a court order targets the chain—and whether the network should ever step in. You’ll hear where they agree and disagree, what protections are realistic today, and what still needs to be built before RWAs can scale. ------ 📣RONIN “ONCHAIN NINTENDO” | DOWNLOAD THE RONIN WALLET https://bankless.cc/RoninWallet ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen ------ TIMESTAMPS 0:00 Intro 6:13 Twitter Debate Genesis 8:58 Bybit Hack 17:56 Crypto vs RWA Immutability 29:29 Ethereum Validator Intervention 33:11 Dealing with Multiple Jurisdictions 52:23 Credible Neutrality for a Multipolar World 1:00:32 Blockchain Use Cases 1:13:40 Consortium Chains 1:24:57 Closing Arguments ------ RESOURCES Omid Malekan https://x.com/malekanoms https://www.omidmalekan.com/ Austin Campbell https://x.com/campbelljaustin https://zero-in.beehiiv.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

What does BlackRock’s former crypto lead see in Ethereum that others still miss? Joseph Chalom joins Bankless to take us inside the IBIT/ETHA ramp, why BUIDL launched on Ethereum mainnet, and the simple—but powerful—framework he uses to value ETH as “high-octane money.” We break down staking inside ETFs, the tokenization roadmap from stablecoins to the S&P in your wallet, and the real mechanics of ETH treasury companies—mNAV premiums, ATMs, converts, and the transparency metrics that matter. Less hype, more architecture: if security, liquidity, and 24/7 settlement are the future, this is the bridge. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen --- TIMESTAMPS 0:00 Intro 3:53 Larry Fink’s arc: skeptic to champion 9:15 Joseph’s crypto journey 18:09 Aladdin × Coinbase Prime 20:55 Building IBIT 24:28 ETHA & ETH ETF staking approval 36:04 Tokenization roadmap & magnitude 44:48 SharpLink’s ETH bet 50:13 Ether as “high-octane money” 58:54 Beyond ‘buy and hold’ 1:03:11 ETH vs BTC treasuries 1:06:09 Radical transparency 1:10:31 mNAV, ATMs & buybacks 1:19:10 Where’s the price impact? 1:25:32 How many treasuries win? 1:29:25 Closing thoughts --- RESOURCES Joseph Chalom https://x.com/joechalom Sharplink https://www.sharplink.com/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

On this week’s Weekly Rollup, Ryan and Haseeb debate if ETH’s new all-time high signals the top or just the start, with whales rotating from BTC into ETH and alt season heating up. Powell hints at rate cuts, ETFs keep pulling billions, and Tom Lee’s billion-dollar ETH bet takes center stage while treasury premiums sink. Meanwhile, Google teases an L1, Hyperliquid outpaces Robinhood, and Europe floats a digital euro, setting up another pivotal week in crypto. --- 📣RONIN “ONCHAIN NINTENDO” | DOWNLOAD THE RONIN WALLET https://bankless.cc/RoninWallet --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS & RESOURCES 0:00 Intro 0:38 Big Sean Crypto https://x.com/altcoindaily/status/1960753873376961031 3:20 Powell’s speech last week https://www.nbcnews.com/business/economy/powell-opens-door-potential-rate-cut-speech-jack https://x.com/FinanceLancelot/status/1958934829082583312 https://x.com/Cointelegraph/status/1958907551442993491: https://x.com/charliebilello/status/1958910251819786478 https://x.com/AnnaEconomist/status/1958923556680536487 9:10 Markets https://x.com/JSeyff/status/1959982000804442559 https://x.com/BanklessHQ/status/1958941150041317514 https://x.com/speculatorart/status/1960322107864141966 https://www.coindesk.com/markets/2025/08/25/bitcoin-flash-crash-triggers-usd550m-in-sunday-l https://x.com/JacobKinge/status/1959724849598718428 https://x.com/lookonchain/status/1958767845934080277 https://x.com/woonomic/status/1960442328604200987 24:53 HYPE Crushing it - competitive with major exchanges https://x.com/cointelegraph/status/1960379396927213990 https://blockworks-research.beehiiv.com/p/is-hype-still-cheap-8541fea8eaae3e65 https://x.com/infinitybanyan/status/1960373080389304611 34:55 SOL DATs are coming - 3 of em! https://x.com/matthew_sigel/status/1959942140500365564 https://x.com/SolanaFloor/status/1959948823280619558 https://decrypt.co/336832/pantera-capital-eyes-1-25b-raise-solana-treasury-firm https://panteracapital.com/blockchain-letter/dat-value-creation/ https://mcga.com/news/trump-media-group-cro-strategy-to-acquire-cro-digital-asset-treasury https://blockworks.co/analytics/treasury-companies/market-data 42:01 Google is building its L1 https://www.linkedin.com/posts/rich-widmann-a816a54b_all-this-talk-of-layer-1-blockchains-has-activity-7366124738848415744-7idA/ 49:35 US GOV - will publish GDP figures onchain! https://www.youtube.com/watch?v=cbEPqUdelFo https://blog.chain.link/united-states-department-of-commerce-macroeconomic-data/ https://x.com/Cointelegraph/status/1961067983800881224 https://x.com/krakenfx/status/1961081675175149795 https://etherscan.io/address/0x36ccdf11044f60f196e981970d592a7de567ed7b#code https://docs.chain.link/data-feeds/us-government-macroeconomic/addresses?page=1&testnetPage=1 51:41 The EU may release a Stablecoin on a public chain - Ethereum or Solana https://x.com/DefiIgnas/status/1958754787345727712 https://app.rwa.xyz/stablecoins https://www.reuters.com/business/finance/china-considering-yuan-backed-stablecoins-boost-global-currency-usage-sources-2025-08-21/ 56:45 Kanye West released $YZY https://x.com/kanyewest/status/1958346810801697237 https://x.com/CryptoHayes/status/1958356982991401006 https://x.com/lookonchain/status/1958355708010975580 https://x.com/JamesWynnReal/status/1958383968945831940 59:43 DOJ announced that it won’t bring charges against non-custodial developers https://x.com/BanklessHQ/status/1958645825732501566 1:04:51 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

ETHZilla wants to turn ETH into Wall Street’s new reserve asset, and they’ve built a plan to do it. Ryan sits down with Avichal Garg (Electric Capital) and Mac Rudisill (ETHZilla) to unpack why ETH treasuries exploded this cycle, how credit markets (converts, preferreds, and debt) supercharge accumulation, and why stablecoins → DeFi → ETH forms a flywheel that turns Ether into high-quality collateral. We dig into leverage discipline, mNAV premiums, operational security, and the business math that makes an ETH treasury look more like Berkshire than a hype trade. Plus: can this wave trigger a DeFi after-boom, and what does “winning” actually mean for ETHZilla? --- 📣RONIN “ONCHAIN NINTENDO” | DOWNLOAD THE RONIN WALLET https://bankless.cc/RoninWallet --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS 0:00 Intro 3:53 Catching Tom Lee and Peter Thiel Backing 7:53 Treasury vs. ETF vs. Just Holding ETH 11:58 Why Treasuries Are Booming 16:51 New Debt Instruments & Appetite 22:00 Leverage, Rehypothecation & Risk Controls 29:50 The Big Unlock: ETH as High-Quality Collateral 34:35 Stablecoins → DeFi → ETH Flywheel 38:55 “ETH Is the Next Bitcoin?” 54:51 Why ETH Lagged BTC 56:05 ETH vs BTC Treasuries: Yield Surface 1:01:33 Why Electric Capital Runs Deployment 1:03:45 Buy Rules: Time vs. Price 1:09:00 Attention Matters: Spokesperson & Community 1:13:24 What “Winning” Looks Like for ETHZilla 1:17:59 Where Are We in the Cycle? 1:26:12 DeFi Afterboom? --- RESOURCES Maria Shen’s “Beyond Stablecoins” Report https://x.com/MariaShen/status/1942658782439395815 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Crypto cycles have always topped on a four-year rhythm, but are we heading for a Q4 2025 peak or an extended run into 2026? Michael Nadeau from The DeFi Report joins Ryan to break down the onchain and macro signals shaping this cycle. We cover Powell’s dovish pivot at Jackson Hole, global liquidity trends, and why loosening bank lending standards could fuel risk-on markets. Michael explains how whale Bitcoin selling, ETH’s breakout, and muted altcoin flows fit into the bigger cycle map. Finally, we dive into portfolio strategy, from core holdings to high-beta “hot sauce” bets, and why holding fewer, higher-conviction assets is the edge most investors miss. Michael Nadeau & The DeFi Report: https://x.com/JustDeauIt https://thedefireport.io https://thedefireport.io/research/how-many-assets-should-you-hold-in-a-crypto-portfolio#closing-thoughts ------ 📣BIT DIGITAL ($BTBT) | ETH-FIRST PUBLIC COMPANY http://bit-digital.com ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 3:01 Global Liquidity Insights 6:44 Market Valuations Discussion 9:53 Lending Standards & Bank Activity 11:49 Powell's Impact on Markets 15:34 Inflation and Market Psychology 17:38 Bitcoin Fear and Greed Index 18:58 Long-term vs Short-term Holders 22:45 Realized Price vs Market Value 26:34 Altcoin Market Dynamics 31:19 Extended Cycle vs Classic Cycle 35:06 Portfolio Construction Strategies 39:27 Core vs Non-Core Asset Holdings 43:10 High Beta Assets Explained 45:54 Cash Allocation Strategies 54:05 Upcoming Research and Reports ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Eric Peters, CIO of Coinbase Asset Management joins Ryan to chart how crypto matured to today’s institutional market with deep liquidity, ETF rails, and stablecoin clarity. They unpack why Wall Street is leaning in, why the next wave is digitally native issuance of treasuries, bonds, and equities on Ethereum, and how macro tailwinds (fiscal dominance, Fed–Treasury convergence, AI-driven productivity) intersect with crypto’s reflexivity. Risks and realities aren’t ignored—over-financialized “treasury companies,” security lapses, and policy whiplash—plus a 12–18 month roadmap of real on-chain use cases as pensions and sovereigns start arriving. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 5:55 Throwback to 2020 9:29 Institutional Infra: Before & After 11:47 Institutional Adoption: Before & After 15:57 TradFi ETF Incentives 19:07 Did Crypto Become Consensus? 22:45 Balancing Conviction & Change of Opinion 28:20 The Story of Money 33:19 Institutional Understanding 37:57 Is Crypto Too Big to be Shut Down? 43:44 Operation Chokepoint Takeaways 49:18 Crypto Regulation 180 56:13 Working with Different Jurisdictions 1:04:05 The Future of Tokenization 1:10:10 Crypto ETFs Aftermath 1:18:32 How High Can Crypto Go? 1:32:23 Treasury Companies 1:38:27 Eric’s Macro Trades 1:44:18 What Could Go Wrong? 1:48:04 Coinbase Asset Management 1:53:34 What’s Next? 1:54:52 Closing ------ RESOURCES Eric Peters https://www.linkedin.com/in/charlesericpeters/ Coinbase Asset Management https://www.cbassetmgmt.com/ One River Asset Management https://www.oneriveram.com/ Last Eric Peters interviews https://www.youtube.com/watch?v=z8oocKy3IwU https://www.youtube.com/watch?v=NMPiGjxdH0E Vitalik’s Interview https://www.youtube.com/watch?v=rNSnYIjoqOM ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

On this week’s Weekly Rollup Ryan and David ask if the cycle top is in and whether alt season is coming, debating if it is time to buy the dip or sell everything while reviewing 30 market signals. ETH ETFs pull in over $3B as Tom Lee buys and Saylor mints more MicroStrategy shares, yet prices remain stuck and treasury premiums compress. Meanwhile the Fed signals a pro-crypto shift, Wyoming unveils a state stablecoin, and New York threatens new taxes, setting up another pivotal week in crypto. --- 📣RONIN “ONCHAIN NINTENDO” | DOWNLOAD THE RONIN WALLET https://bankless.cc/RoninWallet --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS & RESOURCES 0:00 Intro 0:10 What if $124,000 was the cycle top and there won’t be an altseason? https://x.com/QuintenFrancois/status/1957893416282648646 5:10 Markets https://x.com/TheStalwart/status/1958179878940901700 https://x.com/TheStalwart/status/1958179988802302124 https://www.cnbc.com/2025/08/18/openai-sam-altman-warns-ai-market-is-in-a-bubble.html https://www.theverge.com/ai-artificial-intelligence/759965/sam-altman-openai-ai-bubble-interview https://www.tradingview.com/chart/1RYLG2gC/ https://finance-commerce.com/2025/08/fed-rate-cut-debate-jobs-inflation/ https://polymarket.com/event/fed-decision-in-september?tid=1755697973403 https://farside.co.uk/eth/ https://x.com/hildobby/status/1957489251890962578 https://x.com/Cointelegraph/status/1957491638671949895 21:12 Treasuries keep buying…but mNAV losing it’s premium.. Is the treasury meta over? Bitmine became the 2nd largest crypto treasury https://x.com/SERdotxyz/status/1957417581138288945 https://x.com/arkham/status/1956387897830965711 https://x.com/RyanSAdams/status/1957849710678384977 https://www.strategicethreserve.xyz/ https://x.com/Cointelegraph/status/1957623767443587218 https://www.tradingview.com/chart/1CDu50yK/?symbol=NASDAQ%3AETHZ https://x.com/saylor/status/1957413273122287738 https://x.com/kale_abe/status/1957433733025288674 https://youtu.be/hEJueJxftuU?si=682aUZrlLGwuDDCg https://blockworks.co/analytics/treasury-companies/bitcoin-treasury-companies https://www.coindesk.com/business/2025/08/18/btcs-to-pay-first-ever-ether-dividend-loyalty-bonus-to-discourage-short-selling 41:00 Is the current crypto cycle over? https://www.coinglass.com/bull-market-peak-signals https://x.com/fejau_inc/status/1957672639054639465 https://x.com/nic__carter/status/1957875046002680141 https://x.com/NateGeraci/status/1957074513365016952 https://cointelegraph.com/news/norway-sovereign-wealth-fund-bitcoin-exposure 50:05 Gemini is getting ready for its IPO https://www.theblock.co/post/367160/gemini-ipo-filing-exchange-targets-nasdaq-as-gemi-reveals-dip-in-revenue 51:06 New York proposed 0.2% tax on digital asset transactions starting September https://x.com/Cointelegraph/status/1956423461342969915 53:43 Wyoming launched the first stablecoin issued by a US state https://x.com/eleanorterrett/status/1957763504435524055 55:01 Exec director crypto whitehouse - Bo Hines left exchanged White House for Tether https://tether.io/news/tether-appoints-former-white-house-crypto-council-executive-director-bo-hines-as-strategic-advisor-for-digital-assets-and-u-s-strategy/ 57:35 SEC is investigating the CEO of WLFI treasury company https://x.com/zoomerfied/status/1957856353537372614 https://x.com/ALT5_Sigma/status/1957946923647922519 https://x.com/Jonisaac702/status/1957903664393384023 59:04 FED is turning bullish on crypto https://www.theblock.co/post/367508/we-stand-at-a-crossroads-feds-bowman-urges-more-of-an-embrace-toward-crypto-and-tech 1:02:05 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

What if everything you thought about the dollar was wrong? Monetary historian Jeff Snider joins Bankless to deliver a radical thesis: the Federal Reserve doesn't control the U.S. dollar; a sprawling offshore system of interbank ledger money does. This hidden network, known as the Eurodollar system, is the real engine of global finance, and it’s been breaking down for over 15 years. In this episode, we unpack how Eurodollars work, why the Fed lost control, the eerie similarities between stablecoins and shadow banking, and why Jeff sees a “Silent Depression,” masked by asset booms but driven by deflationary forces. If you’ve been bullish on crypto because of debasement fears, Jeff’s counter-narrative might challenge everything you believe. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS 0:00 Intro 5:30 Who’s Actually in Charge of the Dollar? 12:55 Stablecoins vs. Eurodollars 21:19 Did the Fed Ever Have Control? 30:02 Eurodollar Demand & Market Forces 38:24 What Backs a Eurodollar? 46:38 The Silent Depression Since 2008 52:58 From Fed Power to $6 Trillion Lost 58:45 Jeff’s Portfolio Thesis 1:05:24 “There’s No Debasement” 1:14:19 The Jeff Snider Portfolio ------ RESOURCES Jeff Snider https://x.com/JeffSnider_EDU Eurodollar University https://www.eurodollar.university/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Perplexity CEO Aravind Srinivas joins the show to explore how AI agents, personalization, and new browsing models could transform the internet experience. From replacing mundane workflows with proactive assistance to envisioning a fully AI-native operating system, Aravind shares his long-term vision, the thinking behind Perplexity’s new Comet browser, and why curiosity will remain humanity’s most valuable skill in the AI era. We also dive into competing with Big Tech, protecting users from AI-generated “slop,” and the architectural choices that make AI-assisted browsing faster, more reliable, and more personal. ------ 💫 LIMITLESS | SUBSCRIBE & FOLLOW https://limitless.bankless.com/ https://x.com/LimitlessFT ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 9:58 Curiosity as the Key Human Advantage 15:26 From Keywords to Questions 21:35 Personalization and Agency in Browsing 27:13 Keeping Humans in the Loop 32:30 Why People Love Perplexity 38:35 Comet - The AI Browser 47:24 The Browser vs. Agent Debate 57:16 Competing with Big Tech 1:01:26 The OS Endgame 1:08:48 Closing Thoughts ------ RESOURCES Aravind Srinivas https://x.com/AravSrinivas Perplexity https://www.perplexity.ai/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Contrarian strategist Michael Green lays out why “passive” isn’t passive at all—it’s a flow-driven algorithm, turbocharged by policy, that funnels capital into mega-caps, starves small caps, and raises the odds of market non-clearing shocks. We unpack Sharpe’s arithmetic vs. rebalancing reality, lessons from Volmageddon, the aging of investor cohorts, why stress may be deflationary before inflationary, and how to “doom-proof” a portfolio with assets that throw off cash (including overlooked duration/TIPS and munis). Michael also separates crypto’s burn-it-down narrative from its true promise: tokenized, programmable securities that fix TradFi’s paper plumbing. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 4:52 Finance Twitter vs Crypto Twitter 6:42 Fundamentals vs Narrative 9:53 Passive Index Investing 22:12 Message for Passive Investors 28:43 Market Cap vs FDV 30:23 Large Cap Dominance 40:45 Other Distortions 43:40 Volmageddon 50:14 Demographics 55:17 Passive Doom-Proof Portfolio 1:04:15 Currency Collapse 1:09:51 Gold & Precious Metals 1:15:58 Bitcoin vs Gold 1:18:29 Ray Dalio Debt Cycles 1:22:43 Stablecoins & Tokenization 1:28:53 Message to the Listeners 1:34:32 Action Items 1:35:28 Closing & Disclaimers ------ RESOURCES Michael Green https://x.com/profplum99 Michael’s Substack https://www.yesigiveafig.com/subscribe?coupon=879f4ac8 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

On this week’s Weekly Rollup, ETH flirts with ATH while BTC tags a new one, PPI spooks then fades? Ryan and david dig into a $1B ETH ETF day, Tom Lee’s 1M ETH treasury, and the ETH/BTC setup. Also, Stripe and Circle launch L1s, Coinbase routes Aerodrome in-app, Uniswap’s Wyoming DUNA and fee switch path, Monero’s 51% attack, plus quick hits on Do Kwon and bank pushback on the Genius Act. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS & RESOURCES 0:00 Intro 4:01 PPI Volatility & Markets https://x.com/fundstrat/status/1955995766742192612 https://x.com/fundstrat/status/1955992342453772783 https://polymarket.com/event/fed-decision-in-september?tid=1755177801833 https://x.com/DegenerateNews/status/1955763404733603857 https://companiesmarketcap.com/assets-by-market-cap/ https://x.com/CoinMarketCap/status/1955457154686849099 https://x.com/nilesh_rohilla/status/1954190478712164631 https://www.theblock.co/post/366734/standard-chartered-analysts-raise-ethereum-year-end-price-target https://farside.co.uk/eth/ https://x.com/NateGeraci/status/1955100618088972649 https://decrypt.co/334366/harvard-116-million-blackrock-bitcoin-etf https://x.com/BitcoinPierre/status/1955433791805329825 https://x.com/BitcoinPierre/status/1955493635119780321 https://x.com/brian_armstrong/status/1955980017315295514 https://www.cnbc.com/2025/08/13/crypto-exchange-bullish-more-than-doubles-in-nyse-debut-after-pricing-ipo-above-expected-range.html https://x.com/hosseeb/status/1955815228245205461 https://x.com/RyanSAdams/status/1954876419261010119 https://x.com/tedpillows/status/1955283896049807480? https://www.strategicethreserve.xyz/ https://x.com/CryptoGucci/status/1955339759917646012 https://www.bankless.com/read/ethzilla-shares-surge-after-peter-thiel-takes-7-5-stake https://x.com/MikeIppolito_/status/1955606885442179298 https://x.com/JasonYanowitz/status/1956001519095947593 https://x.com/StoryProtocol/status/1954885593286238460 https://x.com/JasonYanowitz/status/1954890658155545074 https://x.com/EricTrump/status/1955653873730720202 https://x.com/EricTrump/status/1955324074684518557 37:07 Stablecoin big boys launching their own L1s https://x.com/circle/status/1955246636223135976 https://x.com/adamscochran/status/1955257074318823568 https://x.com/jgarzik/status/1955270849595937091 https://x.com/jgarzik/status/1955270849595937091 https://x.com/RyanSAdams/status/1955011330777497987: https://x.com/chuk_xyz/status/1955064401490280721 https://x.com/100y_eth/status/1955081750683766805 https://x.com/CampbellJAustin/status/1955240962038349995 https://x.com/cherdougie/status/1955383195609993270 47:36 Banks demand the exclusion for yield-bearing stablecoins in the GENIUS https://x.com/jchervinsky/status/1955763041594958175 https://www.whitehouse.gov/fact-sheets/2025/08/fact-sheet-president-donald-j-trump-guarantees-fair-banking-for-all-americans/ 52:22 Scott Bessent - Strategic Bitcoin Reserve update…it’s not great https://x.com/watcherguru/status/1955987518509154717 54:01 ETH, Coinbase, & Uniswap https://x.com/AerodromeFi/status/1953853358575587631 https://x.com/wagmiAlexander/status/1955101747082309745 https://x.com/brian_armstrong/status/1955268909294068192 https://www.theblock.co/data/crypto-markets/public-companies/coinbase-total-volume https://www.theblock.co/post/366257/uniswap-foundation-eyes-protocol-fee-switch-with-propose https://gov.uniswap.org/t/foundation-feedback-group-ffg-thread/25549/10 https://x.com/SenLummis/status/1954950030306968055 https://x.com/unichain/status/1955978120269312280 58:54 Do Kwon pleaded guilty https://www.reuters.com/legal/government/do-kwon-pleads-guilty-us-fraud-charges-40-billion-crypto-collapse-2025-08-12/ 1:00:48 Monero getting 51% attacked - now controls over 51% of Monero hashrate https://x.com/caffeinateduser/status/1954999609039917448 https://x.com/PixOnChain/status/1955738903895531893 1:05:30 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Jake Chervinsky and Amanda Tuminelli join us to unpack the Roman Storm verdict—what it means for DeFi, why Section 1960 is a looming threat to open-source developers, and the strong grounds for appeal. We discuss the legal, political, and legislative paths forward, the role of Congress in protecting developers, and how the crypto industry can mobilize to prevent future prosecutions. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 0:24 Verdict First Impressions 4:22 Was it Successful? 6:26 Second Trial? 9:47 Money Transmitter Debate 15:20 Optimistic Setup? 19:56 Levels of Precedent 26:04 What’s Next? 30:26 Crypto Industry Agency 34:01 Regulatory Acts 37:33 Two Paths 44:35 Trump Administration 49:02 Upcoming Administrations 53:45 Call to Action 56:55 Closing & Disclaimers ------ RESOURCES Jake Chervinsky https://x.com/jchervinsky Amanda Tuminelli https://x.com/amandatums DeFi Education Fund https://www.defieducationfund.org/ Fund Roman Storm https://freeromanstorm.com/ Fund Alex Pertsev https://juicebox.money/v2/p/713 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Ethereum just turned 10, and Vitalik Buterin returns to reflect on the last decade—and where it’s headed next. In this conversation, Vitalik shares what surprised him most about Ethereum’s growth, the hard lessons from challenges like The DAO and NFTs, and what he’d do differently if starting again. We explore Ethereum’s evolving cultural identity, privacy as a core value, the tradeoffs between L1 and L2, and how Vitalik envisions Ethereum surviving an AI-dominated future. ------ 🎬 DEBRIEF | RYAN & DAVID UNPACKING THE EPISODE https://www.bankless.com/podcast/debrief-ethereums-next-decade-vitalik-buterin ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 0:52 Ethereum’s First 2 Years 2:25 Ethereum’s Top Contributions 4:18 Biggest Surprises 7:37 What Took Longer than Expected 9:05 Overcoming Challenges 11:03 Lesson for Younger Vitalik 15:53 Bitcoin vs Ethereum 18:49 Ethereum’s Cultural Evolution 32:11 Privacy on Ethereum 37:42 Nation State Resistant Privacy 43:03 Cypherpunk vs Mainstream 56:05 World Ledger 59:09 Ethereum in 2024 1:02:23 Changes in the Ethereum Foundation 1:10:10 Economic Alignment 1:16:38 Scaling the L1 1:31:21 Ethereum’s Barbell Strategy 1:39:28 Ethereum Nationalism 1:48:28 ETH Treasuries 1:55:19 The Next 10 Years for Ethereum 1:59:35 The Next 10 Years for Vitalik 2:01:25 The Next 10 Years for Bankless 2:02:52 Closing & Disclaimers ------ RESOURCES Vitalik Buterin https://x.com/VitalikButerin 2021 Endgame https://vitalik.eth.limo/general/2021/12/06/endgame.html Convex and Concave Dispositions https://vitalik.eth.limo/general/2020/11/08/concave.html ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

On this week’s Weekly Rollup, Ryan and David cover Tom Lee’s $3B ETH buying spree at 12x Michael Saylor’s pace, the race to become the top Ethereum treasury, and whether these companies are a buy or not. They also discuss the Roman Storm verdict, Trump’s surprise $8.7T 401(k) crypto order, and Arthur Hayes selling millions in ETH. Plus, Base’s 33-minute outage, the launch of Succinct’s ZK prover network, and the SEC declaring liquid staking tokens are not securities. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle --- TIMESTAMPS & RESOURCES 0:00 Intro 6:17 Markets https://www.cbsnews.com/news/jobs-report-today-july-2025-economy-tariffs-trump-doge/ https://x.com/CryptoHayes/status/1951510939469292023 https://x.com/EricBalchunas/status/1952346941523701954 https://x.com/MitchellHODL/status/1948779978579214777 https://x.com/cburniske/status/1953240847669182937 13:05 Tom Lee becomes the largest crypto holder https://x.com/WhaleInsider/status/1952386215975469242 https://www.tradingview.com/chart/1CDu50yK/?symbol=AMEX%3ABMNR https://x.com/RyanSAdams/status/1952386046206890262 https://youtu.be/iClsnZ1KYSk?si=Ko99PtLiTCiJ_Q-O https://x.com/fabdarice/status/1953110071493439604 https://www.strategicethreserve.xyz/ https://x.com/NateGeraci/status/1953272814422937941 https://blockworks.co/analytics/treasury-companies/market-data https://www.theblock.co/post/365645/mei-pharma-litecoin-treasury-strategy-charlie-lee-gsr 25:31 Roman Storm’s case came to the end https://x.com/SDNYnews/status/1953196594876301702 ​​https://x.com/valkenburgh/status/1953149843565605015 https://x.com/katiebiber/status/1953235191893549123 https://x.com/jchervinsky/status/1953142247504908496 https://x.com/RyanSAdams/status/1953147290165641407 https://www.youtube.com/watch?v=zfKSKz3Kafk 36:10 Executive order - crypto in your 401k https://watcher.guru/news/trump-to-sign-order-allowing-crypto-in-401k-retirement-plans 41:20 Base halted block production for half an hour https://x.com/jessepollak/status/1952785312767459709 https://x.com/TrustlessState/status/1953129400087572524 45:22 Succinct Prover Network is live! https://x.com/pumatheuma/status/1952836524808257580 https://www.coingecko.com/en/coins/succinct 49:00 SEC said LSTs are not securities https://x.com/RebeccaRettig1/status/1952780309876867200 https://x.com/jespow/status/1952833684392034404 50:23 Metamask is about to launch its stablecoin https://x.com/AggrNews/status/1952821245814182346 51:41 Barry Silbert returns to Grayscale as chairman https://x.com/BarrySilbert/status/1952460252571468187 52:29 China said Worldcoin-style iris data collection are national security threat https://www.theblock.co/post/365752/chinese-security-ministry-flags-iris-national-threat https://x.com/BanklessHQ/status/1947265308416229745 55:43 Coinbase Ad was banned in the UK https://x.com/brian_armstrong/status/1952152928044847477 https://www.theguardian.com/politics/2025/aug/04/george-osborne-uk-cryptocurrency-boom-left-behind 58:02 Closing & Disclaimers 58:11 Moment of Zen https://x.com/coinbase/status/1950843893240496564 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Welcome to BanklessTV, featuring Peter Van Valkenburgh from Coin Center and David Morris of The Rage, freshly back from the SDNY courtroom with the inside scoop on the Roman Storm verdict. In this episode we unpack the split decision—how Storm beat the money-laundering and sanctions-evasion counts yet was found guilty on the hot-button “unlicensed money-transmission” charge—and what that single conviction means for every non-custodial developer in crypto. Peter breaks down the legal tightrope between FinCEN guidance and DOJ prosecution, outlines three clear appeal paths (including the Blockchain Regulatory Certainty Act), and explains why Roman’s case could still become a rallying point for financial-privacy legislation. David shares firsthand color from the trial: jury deadlocks, high-stakes witness drama, and the emotional moment Storm walked free to see his daughter. Join us to hear why this verdict is both a wake-up call and an opportunity, what Congress, the courts, and the next administration might do next, and how the outcome could reshape DeFi, privacy tech, and open-source innovation for years to come. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:28 Introduction to the Roman Storm Case 0:58 Reflections on the Verdict 3:37 Understanding the Charges 4:07 Breakdown of the Conspiracy Counts 8:40 The Sentencing Landscape 9:29 Courtroom Atmosphere and Reactions 11:18 The Appeal Process 15:20 Roman's Optimism After the Verdict 17:08 Legal Standards and Implications 21:58 The Role of FinCEN Guidance 26:03 The Bigger Picture for DeFi 29:25 Jury Dynamics Explained 34:08 Optimistic Outcomes and Future Paths 36:25 Legislative Changes Ahead 39:54 The Potential for Re-prosecution 47:43 The Impact of Political Climate 51:37 Paths to Clarity in Legislation 55:45 The Future of Non-Custodial Projects 1:02:08 The Importance of Precedent 1:08:27 Closing Thoughts on the Case 1:09:13 A Call to Action for Support 1:15:37 Supporting the Cause 1:18:13 Final Reflections on the Journey ------ RESOURCES Support The Rage’s on-the-ground reporting https://therage.co/donate Support Coin Center’s policy work (fiat & crypto options) https://coincenter.org/donate ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

In this episode, we talk with Tom Lee, chairman of Bitmine, about the rapid growth of his ETH treasury company and its goal to secure 5% of the total ETH supply. Tom believes Ethereum could surpass Bitcoin in value, forecasting potential prices between $4,000 and $15,000. We discuss market dynamics, risks of excessive leverage, and his insights on valuing Ethereum and NFTs like Pudgy Penguins. Tune in for key insights into Ethereum’s future and Wall Street’s role in crypto. ------ 📣 LISTEN TO THE EXCLUSIVE DEBRIEF: https://www.bankless.com/podcast/debrief-tom-lee-treasury ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 2:57 The Rise of ETH Treasuries 8:27 The 5% ETH Strategy 12:08 The Role of Ethereum in Wall Street 17:57 Accumulating More ETH 26:39 Wall Street's Misunderstanding of Crypto 29:41 Ethereum's 2017 Moment 37:09 The Potential for 100x 45:52 Estimating ETH's Value 50:08 Navigating Market Risks 59:36 Closing Thoughts on Ethereum ------ RESOURCES Tom Lee https://x.com/fundstrat ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Public companies are racing to lock ETH onto their balance sheets, but is this the spark for a late-cycle greed run or a setup for a painful reversal? Mike Nadeau from The DeFi Report joins Ryan to unpack the ETH treasury boom, explain how staking yield and convertible debt amplify reflexivity, and show why onchain signals place us around 9 p.m. on the market clock. We examine surging DEX volumes, record stablecoin supply, and the alt-season gauges that could send ETH to new highs. Finally, we outline the risks of leverage, premium flips, and the exit strategy smart investors are already planning. Michael Nadeau & The DeFi Report: https://x.com/JustDeauIt https://thedefireport.io ------ 📣BIT DIGITAL ($BTBT) | ETH-FIRST PUBLIC COMPANY http://bit-digital.com ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 0:48 Bullish on ETH Treasury Companies 4:47 The Tom Lee Effect 11:48 Why ETH Outperforms Bitcoin 17:50 The Impact of ETH on DeFi 19:15 DeFi Summer 2.0? 24:53 Evaluating ETH Treasury Companies 28:25 Picking the Right Treasury Company 32:30 Navigating Risks in the Market 35:07 Signs of Market Overheating 38:03 Indicators of Market Sentiment 42:07 Analyzing Active Loans in DeFi 45:56 Assessing the Current Market Cycle 48:43 The Launch of TDR Pro 51:48 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Ethereum has flipped the switch. After years of underperformance, ETH is showing decisive momentum, not just in USD terms, but against Bitcoin and the broader altcoin market. In this episode, Ben Cowen returns to break down what’s changed, why ETH may be on a path to new all-time highs, and what its dominance means for the rest of the cycle. We explore ETH’s regression bounce, ETHBTC targets, the fading strength of altcoins, and how market narratives tend to follow price, not the other way around. Ben also lays out his roadmap for the coming months and shares why this phase might be “Ethereum season,” not just in name, but in structure. For anyone navigating crypto in 2024–2025, this is essential context. ------ 📣 INTO THE CRYPTOVERSE | GET 10% OFF https://intothecryptoverse.com/ref/bankless/ ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 3:40 ETH Coming Home 14:13 Why ETH Outperforms Now 18:51 What ETH Season Actually Looks Like 24:48 ETHBTC Targets & USD Projections 29:25 Price First, Narrative Later 32:27 Bitcoin Risks & the Flippening Hypothetical 36:17 Ben’s Market Timeline 43:36 ETH Treasury Narrative Flip 48:11 Where’s the Alt Season? ------ RESOURCES Ben Cowen https://x.com/intocryptoverse Ben’s Channel https://www.youtube.com/@intothecryptoverse Into The Cryptoverse https://intothecryptoverse.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

We’re joined by Haseeb Qureshi from Dragonfly Capital to discusses the SEC's Project Crypto and its impact on the crypto landscape. We celebrate Ethereum's 10th birthday, reflect on its growth, and analyze the ongoing trial of Roman Storm linked to Tornado Cash. The episode also covers the launch of Ethereum treasury company ETH Zilla and advancements in crypto ETF regulations. Haseeb: https://x.com/hosseeb —- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle —- TIMESTAMPS 0:00 Ethereum's 10th Birthday https://www.cnbc.com/2025/07/30/at-10-years-old-ethereums-future-is-brighter-than-ever-despite-recent-setbacks.html?taid=688a2118974852000113ad9a https://x.com/TimBeiko/status/1950578090108993904 https://x.com/ethereumfndn/status/1950179673872510997 7:47 Analyzing SEC's Project Crypto https://www.sec.gov/newsroom/press-releases/2025-101-sec-permits-kind-creations-redemptions-crypto-etps https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125 26:56 Exploring Token Launchpad Wars https://x.com/smyyguy/status/1949657674003431788 https://x.com/smyyguy/status/1949790587877515697 https://x.com/0xMert_/status/1950324576204050752 48:41 The Roman Storm Verdict Discussion https://x.com/innercitypress/status/1950586483955626129 1:03:39 Closing Thoughts and Reflections --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Can a country wage war without ever firing a bullet? In this episode of Bankless, we uncover the surprising truth: America’s most powerful weapon isn’t its military - it’s the dollar. Joining us is Edward Fishman, a former State Department official and the author of Chokepoints: American Power in the Age of Economic Warfare. He explains how U.S. sanctions work, why they’re so effective, and what happens when countries try to escape them. From Iran and Russia to the rise of stablecoins and China’s digital yuan, we dive deep into the geopolitical power of financial infrastructure and crypto’s growing role in rewriting the rules. If you want to understand the silent machinery behind global power, and why crypto might be the next battleground - don’t miss this one. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko --- TIMESTAMPS 0:00 Intro 5:51 Sanctions 101 8:32 The History of Economic Warfare 17:03 When Sanctions Precede War 22:27 Life After Dollar Disconnection 31:28 Sanctioning Russia: Methods & Lessons 43:49 Measuring Sanctions’ Effectiveness 49:20 The Strategic Tradeoffs of Sanctions 57:28 The Rise of Dollar Dominance 1:04:05 Unseen Costs of Sanction Power 1:08:15 Shifting Global Economic Power 1:15:47 Risks to U.S. Economic Leadership 1:20:43 Stablecoins as U.S. Leverage 1:28:13 Crypto’s Role in Sanction Evasion ------ RESOURCES Edward Fishman https://x.com/edwardfishman Edward Fishman’s “Chokepoints” https://www.penguinrandomhouse.com/books/726149/chokepoints-by-edward-fishman/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Is intelligence just compute plus data? And if so... what happens next? In this episode, Dwarkesh Patel, host of one of the most respected AI podcasts and author of “The Scaling Era”, joins us to break down the exponential rise of artificial intelligence. We explore how scaling laws became the engine behind modern models, why AI still can’t learn on the job, and whether we’re truly on the brink of AGI. From coding to consciousness, from geopolitics to governance, Dwarkesh shares a grounded but urgent perspective on what it means to live through the transition and how we might prepare for what’s coming. ------ 💫 LIMITLESS | SUBSCRIBE & FOLLOW https://limitless.bankless.com/ https://x.com/LimitlessFT ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 6:59 What Is the Scaling Era? 9:31 Compute + Data = Intelligence? 15:08 Are We Building God? 17:57 The Catalyst: Discovering the Scaling Laws 20:54 Model Capabilities 24:35 Why Coding Is the AI Frontier 31:43 What AIs Still Can’t Do 36:26 AI Isn’t Around the Corner 46:01 Is AI Really Smart? 50:54 Inside the Black Box 54:46 AI Safety and Alignment 1:03:49 Who Controls the Models? 1:08:16 Swiss Cheese Safety & Liberal AI 1:19:30 Scaling Inputs: Energy, Compute, Data 1:26:40 Jobs, Growth & the Intelligence Curse 1:32:07 Why 60% AGI by 2040? 1:36:14 Dwarkesh’s Personal View ------ RESOURCES Dwarkesh Patel https://x.com/dwarkesh_sp Dwarkesh’s Book https://www.amazon.com/Scaling-Era-Oral-History-2019-2025/dp/1953953557 Dwarkesh’s Podcast https://www.dwarkesh.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Andrew Keys and David Merin join us to unveil the Ether Machine—a bold new strategy to make ETH the internet’s reserve currency. We unpack their ambitious plan to acquire and actively manage hundreds of thousands of ETH, why they believe ETH is more than just a treasury asset, and how institutional capital can finally understand and tap into Ethereum’s full potential. From staking and restaking to DeFi yield generation and Wall Street education, this episode explores why Ether is not just digital oil—it’s the engine of the next internet. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 1:32 How Much Ether? 4:57 Other ETH Treasuries 9:41 Ether Machine 12:46 ETH vs BTC 17:27 Ether Machine DeFi Strategy 21:14 Explaining ETH to Wall Street 26:01 How Big is ETH? 28:14 ETH ETFs vs Ether Machine 37:13 Andrew’s Journey 40:54 Gensler’s SEC Era 43:30 Michael Saylor of ETH? 49:29 Decentralization Worries 52:09 ETH’s Narrative Problem 56:47 The Institutional Cycle 1:00:41 Closing ------ RESOURCES The Ether Machine https://x.com/TheEtherMachine https://ethermachine.com/ Andrew Keys https://x.com/ak_ethermachine David Merin https://x.com/dfmerin ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

The internet is broken for creators, and Base thinks it has the fix. Jesse Pollak joins Bankless to unveil the Base app, a crypto-powered everything app where posts earn, creators own, and mini apps go viral. From meme coins to market-based social media, this might be the start of a new onchain economy. —- 📣BANKLESS TV | BASE DAY https://x.com/BanklessHQ/status/1948769160932327886 —- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎 COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko —- TIMESTAMPS 0:00 Intro 1:04 The Vision of BASE 3:11 The Everything App 6:10 The Future for Creators 10:13 Earning Through Engagement 14:29 Crafting the Perfect Content 20:54 The Rise of Mini Apps 23:59 Monetization and the Free Market 25:52 Addressing Creator Concerns 29:23 Closing Thoughts on BASE —- RESOURCES Jesse https://x.com/jessepollak Base https://x.com/base —- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

In this episode, we celebrate the crypto market reaching a $4 trillion cap, exploring the impact of the Genius Bill on stablecoins and digital assets. We discuss Polymarket's U.S. acquisition, Ethereum's ETF inflows, and the courtroom drama surrounding the Roman Storm trial. —- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎 COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko —- TIMESTAMPS 0:00 Intro 2:15 MARKETS https://x.com/WatcherGuru/status/1948062927879131412 https://x.com/TheCryptoLark/status/1947212505039704467 8:45 ETH ETF Inflows https://x.com/Matt_Hougan/status/1948377319027998909 https://x.com/RyanSAdams/status/1948375840737124460 https://farside.co.uk/eth/ https://x.com/EricBalchunas/status/1948352147050930196 https://x.com/JasonYanowitz/status/1947348010045780016 11:15 ETH Treasuries https://ethermachine.com/ https://x.com/jdetychey/status/1947278978454061240 https://x.com/fabdarice/status/1948395310310732184 https://x.com/RyanSAdams/status/1948355494885622027 https://x.com/fundstrat/status/1948114342680879306 https://x.com/hughkarp/status/1948021401513771236 https://x.com/materkel/status/1948360988832461271 https://x.com/laurashin/status/1948166358832759016 30:00 GENIUS Act https://x.com/CoinDesk/status/1946292667098308757 https://x.com/WhiteHouse/status/1946632494855368917 https://x.com/paoloardoino/status/1946307158515069334 https://x.com/paoloardoino/status/1946292409068834935 https://x.com/SecScottBessent/status/1946283991562084432 https://www.coindesk.com/policy/2025/07/18/tether-ceo-says-he-ll-comply-with-genius-to-come-to-u-s-circle-says-it-s-set-now 38:45 Polymarket in US https://x.com/shayne_coplan/status/1947322129654927465 https://x.com/shayne_coplan/status/1948087129193751030 https://x.com/shayne_coplan/status/1948087129193751030 https://x.com/jespow/status/1947702880838029717 https://x.com/brian_armstrong/status/1947827460307087528 47:00 45M Gas Limit Block https://x.com/ChodoKamil/status/1947295096656794054 https://x.com/potuz_eth/status/1948068611341398286 52:45 Solana Bam Protocol and RICO Suit https://x.com/jito_sol 59:10 Coinbase Perps and PNC Partnership https://x.com/brian_armstrong/status/1947340416283537633 https://www.prnewswire.com/news-releases/pnc-bank-coinbase-announce-strategic-partnership-to-advance-digital-asset-solutions-and-expand-banking-services-302510790.html 58:30 Roman Storm Trial https://x.com/tayvano_/status/1946062228878508119 https://www.propublica.org/article/whats-a-pig-butchering-scam-heres-how-to-avoid-falling-victim-to-one https://x.com/tayvano_/status/1946062275871391924 https://x.com/amandatums/status/1948031555084972080 https://x.com/jchervinsky/status/1948037194909688230 https://x.com/RyanSAdams/status/1948348407103299814 1:05:44 Zora vs Pump https://x.com/andy8052/status/1947791347538391199 https://x.com/smyyguy/status/1947291271401222593 https://blockworks.co/analytics/zora/zora-coin-platform https://dune.com/adam_tehc/memecoin-wars https://x.com/notthreadguy/status/1947793270169604321 https://x.com/ZeMirch/status/1948109514793689244 https://x.com/blocknewsdotcom/status/1948113825095458836 https://www.coingecko.com/en/coins/pump-fun --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

The race for ETH supremacy among public companies is heating up—and BitDigital is charging hard. CEO Sam Tabar joins us to share why they’re going all-in on Ether, how they're copying Michael Saylor’s playbook (but for ETH), and what sets BitDigital apart from the rest of the pack We talk staking strategies, ETH yields, competitive dynamics, and the explosive rise of ETH treasury companies. This is the next phase of institutional Ethereum adoption—don’t miss it. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 0:57 Why ETH? 10:49 Ethereum TAM 12:11 Bit Digital 14:18 ETH Treasury Competition 19:07 Is This a Bubble? 21:30 Risks Involved 24:15 Financial Engineering 28:31 ETH Staking Yields 32:15 Ditching Bitcoin Mining 38:02 How Big is This? 40:09 Why Bit Digital? 41:37 Closing & Disclaimers ------ RESOURCES Sam Tabar https://x.com/samirtabar Bit Digital https://bit-digital.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠.

Everyone wants to climb the wealth ladder - but very few ask if they should. In this episode, Ryan sits down with Nick Maggiulli to explore the six stages of wealth, how your strategy should evolve at each level, and why reaching the top isn’t always the win it seems. From early savings and side hustles to ownership leverage and lifestyle trade-offs, Nick guides us through practical, data-driven ways to build wealth, without losing sight of happiness along the way. If you’re somewhere between $10K and $10M, this episode is for you. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 6:34 The Wealth Ladder Model 16:55 The 0.01% Rule & Smart Restraint 21:02 Time’s Role in Wealth Building 24:02 Demographics, Inflation & Shifting Rungs 30:29 How to Climb (and Avoid Falling) 41:19 The Ownership Threshold 50:20 Knowing When to Stop Climbing 54:45 Wealth vs. Happiness 1:08:01 Crypto, Leverage & Final Advice ------ RESOURCES Nick Maggiulli https://x.com/dollarsanddata Nick’s Blog https://ofdollarsanddata.com/ The Wealth Ladder Book https://a.co/d/1okUAwh Sohail Bloom’s Episode https://www.youtube.com/watch?v=n6Rywzypi64 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Crypto's murky market making practices are finally getting sunlight. We sit down with Coinwatch co-founders Matt Jobbe and Brian Tubergen to uncover how market makers have been quietly influencing token prices, the call-option structures enabling extraction, and how shady tactics have hurt retail. Then, we explore how Coinwatch Track is bringing real-time transparency to the space using trusted execution environments (TEEs), giving projects verifiable insights into what market makers are really doing with their tokens—and why this might just restore trust and open the door for more liquid capital to enter crypto. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 0:30 Market Makers 101 7:25 Why the Bad Reputation? 14:25 TradFi Market Makers 16:34 Market Making Business Model 21:34 The Positive Case 23:22 Market Making Cabals 33:36 Matt & Brian Backgrounds 40:03 Coinwatch 101 46:33 Why Coinwatch? 51:31 The Bull Case 56:51 Call to Action 57:38 Closing & Disclaimers ------ RESOURCES Coinwatch https://coinwatch.co/ Coinwatch on X https://x.com/coinwatchdotco Matt Jobbe Duval https://x.com/mattjob1 Brian Tubergen https://x.com/tubergen ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

The bots are winning. AI-generated spam, fake profiles, and deepfakes are turning the internet into a digital hall of mirrors. But what if there were a way to prove you're human, without sacrificing privacy? Worldcoin Co-Founder Alex Blania returns to Bankless to share a bold vision for addressing the online identity crisis. From 14 million users already “Orbed” to new integrations with dating apps and DeFi protocols, Worldcoin is evolving rapidly and facing significant questions. What happens when governments come knocking? And why does Alex think we’re heading toward internet-native citizenship? Whether you're curious about AI-proof identity or sceptical of eyeball scanning orbs, this conversation cuts deep. ------ 🎬 DEBRIEF | Ryan & David Unpacking the Episode: https://www.bankless.com/podcast/debrief-can-worldcoin-fix-the-internets-99-bot-problem-co-founder-alex-blania ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 1:15 The Bot Problem 9:28 Orb Scaling Limiters 15:40 Miniapps & Orb Use Cases 23:31 World ID Integration Plans 31:02 Incentives to Get Orbed 35:55 Civil Resistance & Sybil Attacks 40:14 Privacy Concerns: Will You Get Tracked? 46:26 Global Regulation 54:56 The Future: Internet Citizenship 58:42 Closing Thoughts ------ RESOURCES Alex Blania https://x.com/alexblania World App https://worldcoin.org/world-app ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

We’re celebrating "Crypto Week" as declared by Trump amid the introduction of key regulatory bills. But perhaps more importantly, Bitcoin's new all-time high, Ethereum's rising institutional interest, and Tom Lee's goal of acquiring 5% of ETH supply. Highlights include Base's new "everything app," the trend of Bitcoin miners viewing ETH as a treasury asset, and updates on macroeconomic factors and the Roman Storm trial. This is the hottest news in crypto. —- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎 COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko --- TIMESTAMPS 0:00 Trump’s Crypto Week https://x.com/KobeissiLetter/status/1945144093350207624 2:30 Bankless Summit https://lu.ma/0ph1qg6c 3:50 MARKETS https://www.coingecko.com/en/coins/bitcoin https://x.com/WatcherGuru/status/1944663480755458526 https://x.com/EricBalchunas/status/1943664470032576876 https://x.com/glassnode/status/1943661049783431240 https://x.com/glassnode/status/1943661049783431240 https://x.com/ercwl/status/1944759201441477040 https://x.com/jacqmelinek/status/1943373069063786953 9:30 ETH https://www.coingecko.com/en/coins/ethereum https://x.com/RyanSAdams/status/1945180957033546069 https://x.com/RyanSAdams/status/1945852323651022910 https://x.com/coinbaseduck/status/1945217164442489220 https://farside.co.uk/btc/ https://farside.co.uk/eth/ https://x.com/NateGeraci/status/1945665209529675794 https://x.com/sassal0x/status/1945662874216788060 16:00 Macro, Inflation, Powell https://www.cnbc.com/2025/07/15/cpi-inflation-report-june-2025.html https://polymarket.com/event/us-recession-in-2025 https://x.com/KobeissiLetter/status/1945122105051185367 https://x.com/KobeissiLetter/status/1945507837817303243 https://x.com/BulwarkOnline/status/1945516462199673329 https://polymarket.com/event/will-trump-remove-jerome-powell 23:40 ETH Treasuries to $1B+ (BMNR, SBET, HYPE) https://www.strategicethreserve.xyz/ https://x.com/maxxTFSA/status/1945828721321037966 https://x.com/RyanSAdams/status/1945263091656057078 https://x.com/bitmnr/status/1944743816986051049 https://www.strategicethreserve.xyz/ https://x.com/JoshwaaaDixon/status/1945851138407792793 https://www.coindesk.com/markets/2025/07/08/ether-treasury-firm-btcs-surges-100-on-100m-eth-buying-plan https://x.com/HyperliquidNews/status/1944704235926434125 https://x.com/ThinkingUSD/status/1944719934128279669 https://x.com/matthuang/status/1944730866858799166 https://x.com/Crypto_McKenna/status/1944706319207845958 35:44 Coinbase’s Base App https://x.com/baseapp/status/1945609622913757190 https://x.com/defiignas/status/1945793215665197468 https://x.com/base/status/1945624674656030985 https://x.com/brian_armstrong/status/1945676446204412244 https://join.base.app/ https://x.com/brian_armstrong/status/1943300747635925246 42:40 Crypto Week in Congress https://x.com/BoHines/status/1943728972505714724 https://x.com/RepMaxineWaters/status/1945151846433140920 https://x.com/watcherguru/status/1945667844219277644 https://x.com/campbelljaustin/status/1945857868734816662 https://x.com/zGuz/status/1945682848054174091 47:00 PUMP ICO https://x.com/pumpdotfun/status/1944043746292584849 https://x.com/0xSharples/status/1944111013973876989?1 https://www.coingecko.com/en/coins/pump-fun https://x.com/hyperstitionHQ/status/1945425882245710186 https://blockworks.co/news/pump-fun-buybacks-axiom-competitor https://www.binance.com/en/support/announcement/detail/29d8942bfcd0472890c00d30d6b2676c https://www.binance.com/en/support/announcement/detail/29d8942bfcd0472890c00d30d6b2676c 50:05 Snoop Dogg NFTs https://cointelegraph.com/news/snoop-dogg-nft-collection-telegram-ton-blockchain-sold-out https://x.com/durov/status/1943077902817411292 51:20 Polymarket Cleared by DOJ https://x.com/shayne_coplan/status/1945146324271218767 https://x.com/brian_armstrong/status/1945156692041457747 53:50 Roman Storm Trial Starts https://www.theblock.co/post/362625/tornado-cash-roman-storm-trial-laundering https://x.com/realDannyNelson/status/1944824924838793454 https://www.coindesk.com/policy/2025/07/16/hack-victims-say-tornado-cash-offered-no-help-in-the-wake-of-exploits-day-2-of-roman-storm-trial --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Ethereum is gaining steam, but is the real rally just getting started? Mike Nadeau of the DeFi Report joins us to break down Ethereum’s Q2 fundamentals and the 10 most bullish charts from his latest report. We explore why institutional demand may be driving this rally, how ETF flows and treasury holdings are accelerating, and whether ETH remains undervalued despite recent gains. Plus, we dig into the Genius Bill, stablecoin growth, real-world assets, and key onchain metrics that could fuel the next leg of Ethereum’s bull run. Michael Nadeau & The DeFi Report: https://x.com/JustDeauIt https://thedefireport.io https://dune.com/the_defi_report/the-eth-report ------ 📣BIT DIGITAL ($BTBT) | ETH-FIRST PUBLIC COMPANY http://bit-digital.com ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 2:29 Peter Thiel buying a 9.1% stake in Tom Lee’s ETH treasury company 4:03 Stablecoin institutional adoption 9:35 Active loans on ETH & L2s 11:49 Real world assets onchain 17:01 ETH in ETFs, net flows & ETH in treasury 24:22 ETH in smart contracts & balance on CEXs 27:36 MVRV/Fair Value & 200-week moving average 32:55 Market Cap vs. TVL & bull market math 35:32 ETH L2 & Yield Bear vs. Bull case 40:11 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Tokenized stocks have long been a crypto dream, but are they real yet? Gabriel Otte, founder of Dinari, joins to break down the current landscape. We cover what tokenized stocks actually are, why regulatory hurdles make them complex, how Dinari secured the first broker-dealer license for tokenized public shares, and what this means for on-chain finance. We also explore the limitations of current tokenized stock offerings, Robinhood’s moves, and whether true DeFi composability is possible for equities. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 4:08 Tokenized Stocks 101 5:47 Why is it Taking so Long? 8:48 Traditional Stocks Infra 24:07 Broker Dealer Licenses 27:55 Dinari Tokenized Stocks 30:48 What is an ATS? 32:51 What about Exchanges 35:13 Tokenization Benefits 47:16 Pitching to Wall Street 51:49 The State of Tokenized Stocks 1:03:48 Hype or Real? 1:07:15 Stablecoin Analog 1:10:25 Tokenizing Private Companies 1:17:07 New SEC 1:21:04 What’s Next? 1:23:03 Cancer Research to Crypto 1:28:43 Closing & Disclaimers ------ RESOURCES Gabriel Otte https://x.com/GabeOtte Dinari https://dinari.com/defi Dinari granted first broker-dealer registration to offer tokenized stocks https://www.reuters.com/sustainability/boards-policy-regulation/dinari-granted-first-broker-dealer-registration-offer-tokenized-stocks-2025-06-26/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

This week, Ryan and David celebrate Bitcoin's new all-time highs as Ethereum sentiment explodes. ETH treasury firms are racing to stockpile billions, Fidelity is framing ETH as a store-of-value, and mainstream media is finally paying attention. So why isn't the price moving faster? They unpack the $8.6 billion Bitcoin whale awakening, Pump's $4 billion ICO, and crypto's "what color is the dress" moment with Zelensky's suit. Plus, Hyperliquid beats Solana at its own game, Robinhood pushes tokenized stocks, and prediction markets face a credibility crisis. Also, is ETH gearing up for a vertical breakout or just stuck in a bullish echo chamber? ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS & RESOURCES 0:00 Intro 1:46 Markets https://thequantuminsider.com/2025/07/08/did-quantum-fears-prompt-a-bitcoin-whale-to-make-an-8-billion-move/ https://x.com/Pentosh1/status/1942578558498427027 https://x.com/l3olanza/status/1943010575623074228 https://x.com/RyanSAdams/status/1943306201007034471 https://x.com/sassal0x/status/1943155217500897660 https://x.com/cryptomanran/status/1942854141308723597 https://x.com/RyanSAdams/status/1943014863359398166 https://x.com/SharpLinkGaming/status/1942320301414457777 https://x.com/Jrag0x/status/1942631804038443405 https://x.com/BitDigital_BTBT/status/1942954089647833552 https://www.strategicethreserve.xyz/ https://x.com/RyanSAdams/status/1942911577037963452 https://x.com/fabdarice/status/1943205144436629554 https://x.com/RyanSAdams/status/1942742550982373816 https://x.com/RyanSAdams/status/1943097344427245908 https://x.com/smyyguy/status/1942974829537165788 https://x.com/RyanSAdams/status/1942676961681170592 https://x.com/TrustlessState/status/1942628566610358756 https://x.com/SolanaFloor/status/1942955685534167471 https://x.com/EricBalchunas/status/1942963302109524450 https://farside.co.uk/sol/ https://x.com/solidintel_x/status/1943280583808798761 29:58 Pump.fun’s ICO will kick off this weekend! https://x.com/pumpdotfun/status/1942947267436056740 https://x.com/whosknave/status/1942956245331370390 https://x.com/a1lon9/status/1942948097237172509 https://x.com/a1lon9/status/1942948099854328150 https://blockworks.co/analytics/solana/solana-launchpads/solana-launchpad-volume/ 37:51 What happened with Polymarket and the bet over Zelenky’s outfit? https://imgur.com/a/2vfr3Hy https://www.youtube.com/watch?v=9dgAzRF96m4 https://x.com/BanklessHQ/status/1942592467120832784 https://polymarket.com/event/will-zelenskyy-wear-a-suit-before-july?tid=1751599304475 https://x.com/dieworkwear/status/1941013198465114263 https://x.com/Atlantislq/status/1940428544594563581 https://dune.com/queries/1096172/1874464 47:33 Phantom added Hyperliquid perps into its wallet https://x.com/phantom/status/1942628993636917311 The choice of Hyperliquid was surprising! https://x.com/DefiSolar/status/1942657673994068081 https://dune.com/uwusanauwu/perps https://x.com/pumatheuma/status/1942669033771536640 51:24 Tornado Cash win! https://x.com/valkenburgh/status/1942262643546292443 https://x.com/RyanSAdams/status/1941876192476275098 https://freeromanstorm.com/ 54:52 Foundations are making moves https://x.com/solana/status/1942945696061313306 https://x.com/monad_xyz/status/1942933687978365289 57:24 Jack Dorsey introduced a decentralized messaging without internet https://x.com/DocumentingBTC/status/1942351534009807179 58:43 Is Robinhood might be in trouble in the EU over its tokenized stocks? https://www.theblock.co/post/361534/robinhood-engaged-with-regulators-over-tokenized-stocks https://x.com/RyanSAdams/status/1943009436546560432 1:04:21 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Recorded live at the Permissionless IV conference, this conversation dives into Ethereum’s strategy to win over Wall Street. Danny Ryan discusses how Etherealize is advising financial institutions to leverage Ethereum’s decentralization, resilience, and credible neutrality, while Joe Lubin explains why ConsenSys is taking a direct approach by accumulating ETH on Sharplink Gaming’s balance sheet, similar to MicroStrategy with Bitcoin. Together, they unpack Ethereum’s strengths, institutional adoption strategies, and what it will take for Ethereum to become the foundation of the next-generation financial system. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 3:11 Ethereum's Evolution & Challenges 7:54 Regulatory Tensions & SEC Scrutiny 11:02 Ethereum's Resilience Against Regulation 14:47 Bridging TradFi & Decentralization 16:06 Institutional Adoption of Ethereum 17:19 Ethereum's Path Forward 21:51 Building for the Future 23:40 The Call for Problem Solving 24:41 Ethereum's Leadership Dynamics 33:25 Taking Ethereum to Wall Street 35:17 The Future of SBET & Ether ------ RESOURCES Joe Lubin https://x.com/ethereumjoseph Danny Ryan https://x.com/dannyryan Permissionless IV https://blockworks.co/event/permissionless ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Cathie Wood is placing some of the boldest bets in investing history, spanning AI, robotaxis, brain chips, crypto, and even space. In this episode of Bankless, the ARK Invest CEO joins Chief Futurist Brett Winton to break down her five highest-conviction technologies - opportunities she believes could unlock over $20 trillion in enterprise value. You’ll hear why Elon Musk’s empire is at the center of it all, how Tesla’s robotaxis could become the biggest AI project on Earth, and why Neuralink, Starship, and stablecoins are converging to spark a new era of productivity and exponential growth. This isn’t just tech optimism - it’s Cathie Wood’s vision for the future of innovation. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance --- TIMESTAMPS 0:00 Intro 5:05 Elon Musk and the Data Flywheel 11:57 The Power of Wright’s Law 19:27 Forecasting AI’s Trillion-Dollar Impact 23:35 Why ARK Owns xAI, OpenAI, and Anthropic 29:04 Google and Apple’s AI Blindspots 35:52 Why X Merged with xAI 44:15 Robotaxis: The Biggest AI Project on Earth 52:02 Robo GDP: AI’s Real-World Economic Boost 55:31 Tesla’s Scaling Advantage 1:01:27 The Humanoid Opportunity 1:10:42 Neuralink: AI, Enhanced 1:15:34 Starlink & SpaceX: The $2.5T Bet 1:22:01 Crypto’s Stablecoin Supercycle 1:33:18 Macro & Trump’s Strategy --- RESOURCES Cathie Wood https://x.com/CathieDWood Brett Winton https://x.com/wintonARK Ark’s SpaceX Report https://www.ark-invest.com/articles/valuation-models/ark-expected-value-spacex-2030 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Welcome to the Weekly Rollup, where we cover the latest news in crypto. ——— 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ——— TIMESTAMPS & RESOURCES 0:00 Intro and EthCC 5:30 MARKETS https://www.coingecko.com/en/coins/bitcoin 7:30 Solana ETF https://x.com/EricBalchunas/status/1940436515798348195 https://www.tradingview.com/chart/V7YvdegA/?symbol=CBOE%3ASSK 12:20 MACRO https://x.com/TheStalwart/status/1940749966542360844 https://x.com/HadickM/status/1940754843838341559 https://imgur.com/uBt5LkP https://x.com/KobeissiLetter/status/1939684213672038840 https://polymarket.com/event/who-will-trump-announce-as-next-fed-chair 19:00 The Big Beautiful Bill https://polymarket.com/event/reconciliation-bill-passed-by?tid=1751541176019 https://www.foxnews.com/politics/trumps-big-beautiful-bill-clears-final-hurdle-before-house-wide-vote https://x.com/SenLummis/status/1939730903045218395 23:00 Robinhood Chain and Tokenized Stocks https://x.com/smyyguy/status/1939725345772470671 https://x.com/RobinhoodApp/status/1939701274217460047 https://x.com/BanklessHQ/status/1940054189914145198 https://x.com/RobinhoodApp/status/1939706469966135442 https://x.com/RobinhoodApp_EU/status/1939709899690098770 https://x.com/vladtenev/status/1939713633392480417 https://x.com/OpenAINewsroom/status/1940502391037874606 https://x.com/vladtenev/status/1940547859532612028 https://x.com/0xren_cf/status/1940077604939129253 https://x.com/vladtenev/status/1940308314144883074 https://x.com/BanklessHQ/status/1940468665235001656 https://x.com/RobinhoodApp/status/1939703096168362170 https://x.com/hosseeb/status/1940050920483823819 https://www.tradingview.com/chart/1CDu50yK/?symbol=NASDAQ%3AHOOD https://x.com/iamDCinvestor/status/1939711492397703307 https://open.spotify.com/episode/6XTj2K0YAtXIgYPpGrK0xg?si=ef33fb6a0e394acd https://backed.fi/news-updates/xstocks-are-going-live-tokenized-stocks-for-the-defi-era https://x.com/0xMert_/status/1939761568029225224 https://x.com/gemini/status/1938688845597577591?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g https://thedefiant.io/news/tradfi-and-fintech/dinari-wins-first-u-s-broker-dealer-license-tokenized-stocks-667afe25 https://sbt.dinari.com/tokens?tokenSymbol=AAPL.d https://x.com/HadickM/status/1940018046833201168 https://www.theblock.co/post/360853/financial-industry-group-pushes-back-on-tokenized-equities-urges-sec-to-reject-crypto-firms-exemptions https://www.cnbc.com/video/2025/07/02/sec-chairman-paul-atkins-on-regulating-private-markets-rise-of-stock-tokenization.html 47:20 Tom Lee Bullish ETH https://www.tradingview.com/chart/V7YvdegA/?symbol=AMEX%3ABMNR https://x.com/CNBC/status/1939658101193322537 https://x.com/RyanSAdams/status/1939686608254460283 https://x.com/sharplinkgaming/status/1940078442579644420 53:50 NEWS https://x.com/tier10k/status/1940133141546770454 https://x.com/coinbase/status/1940385699653652500 https://x.com/zachxbt/status/1940388827392344261 https://x.com/RyanSAdams/status/1940480126925656343 https://www.youtube.com/live/zo72TWXrc3Y ——— Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

David from Blockworks and Omar from Dragonfly join the show to debate Coinbase vs Robinhood, two companies racing to become the dominant financial super app. We break down their business models, growth strategies, tokenized asset plays, and how each is approaching crypto, equities, and infrastructure. Will Robinhood’s slick UX and expanding product suite win the next generation? Or will Coinbase’s onchain infra and stablecoin moat prove unbeatable? Omar & Dragonfly https://x.com/TheOneandOmsy https://x.com/Dragonfly_xyz David & Blockworks https://x.com/EffortCapital https://x.com/BlockworksAdv --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance --- TIMESTAMPS 0:00 Intro 2:37 Understanding Coinbase 8:31 Coinbase B2B 13:39 Comparing Revenue, Valuation, & Infrastructure 23:12 Future Growth of Coinbase 28:14 Understanding Robinhood 38:22 Robinhood Competition 45:42 Robinhood 2021 Crisis Explained 48:14 Robinhood Bank 52:02 Tokenized Stocks & L2 55:32 Defending the Coinbase Moat 1:06:19 Forecasting Robinhood’s Future 1:11:08 Forecasting Coinbase’s Future 1:15:31 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Crypto prices seem stuck. Is that about to change? Michael Nadeau of the DeFi Report returns to unpack what onchain data says about Bitcoin, ETH, and altcoins. We dive into why the market may be coiling beneath the surface, whether altcoins are due for a “hate rally,” and how valuation metrics reveal surprising accumulation trends. Michael also shares his current portfolio moves, including high-beta bets like Pepe and ENA, and lays out the macro triggers that could spark the next leg up. Michael Nadeau & The DeFi Report: https://x.com/JustDeauIt https://thedefireport.io --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance --- TIMESTAMPS 0:00 Intro 2:19 The HODLer's Fallacy: Rethinking Conviction in a Naturally Extractive Market https://mirror.xyz/sreevanth.eth/6unQ_oX9sQFkvjPi3yehVi6M7Ak2t1V5hzyWYs9yUi4 7:03 BTC Onchain Data & Price Explanation 15:23 Altcoin Season Index 23:24 ETH & Solana Onchain Data 32:30 Beta Assets Bull Case 38:46 Ethena Memo https://thedefireport.io/research/ethena-memo 51:14 Crypto Equities 55:45 Liquity & The Macro Setup 1:00:53 Michael’s Portfolio Today 1:02:31 How to Value an L1 https://thedefireport.io/research/how-do-you-value-an-l1 1:02:53 Quarterly Reports 1:04:40 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

In this series of three interviews from Cannes, we host Vlad Tenev, CEO of Robinhood, Johann Kerbrat, GM of Crypto at Robinhood, and AJ Warner from Arbitrum to explore key announcements from their recent Token Summit. They discuss the introduction of tokenized stock options for private companies like SpaceX and OpenAI, aiming to democratize access for retail investors. Vlad highlights Robinhood’s commitment to addressing investment inequities, while Johann shares insights on the technological challenges and their Layer 2 blockchain initiative facilitating 24/7 trading. They also navigate the regulatory landscape with the SEC and CFTC, envisioning a future where private shares become accessible and entrepreneurial capital raising is enhanced. The conversation wraps up with plans to improve user experience for new financial products in Robinhood’s evolving crypto offerings. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Interview with Vlad Tenev 21:00 Interview with Johann Kerbrat 37:30 Interview with AJ Warner ------ RESOURCES Vlad Tenev https://x.com/vladtenev Vlad’s Washington Post Op-Ed https://www.washingtonpost.com/opinions/2025/01/28/investing-crypto-tech-robinhood-stock-market/ Johann Kerbrat https://x.com/johannkerbrat AJ Warner https://x.com/ajwarner90 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Sam Dogen, founder of Financial Samurai and one of the original F.I.R.E. voices, joins Ryan Sean Adams to break down the path to financial independence, whether you're investing in crypto or other asset classes. They unpack 10 milestones to millionaire status, from mindset and momentum to investing, real estate, and entrepreneurship. Sam and Ryan go deep on how to avoid financial landmines, get on the same page with a partner, and define a life where money serves purpose, not the other way around. If you want your net worth to grow without losing your life to the grind, this episode is your roadmap. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 5:56 Millionaire Mindset 9:34 The Probability of Becoming a Millionaire 10:58 Understanding Your Why 12:46 Freedom Through Finance 17:07 Signs You’ve Reached Independence 19:52 How Much Should You Have? 22:20 Saving: Where to Begin 26:48 The 50% Rule 29:21 The Magic of $250.000 32:30 Smart Debt vs Smart Risk 34:44 What Assets Build Wealth? 37:31 Buying Your First Home 43:00 Easy Wins in Property 47:14 Income That Frees You 49:22 Cars That Kill Wealth 52:55 Why Ownership Beats Income 59:56 Location = Opportunity 1:02:38 Design Your Financial Life 1:04:28 Build Wealth as a Team 1:06:43 Redefining Retirement 1:08:41 Lightning Round 1:12:53 Closing ------ RESOURCES Sam Dogen https://x.com/financialsamura/ Financial Samurai https://www.financialsamurai.com/ Millionaire Milestones https://www.amazon.com/Millionaire-Milestones-Simple-Steps-Figures/dp/0593714709 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

This week, David and guest co-host Tom Schmidt (Dragonfly) unpack a deceptively quiet crypto market with Bitcoin dominance hitting 66% and altcoins eerily still. What meta could flip the trend? They dive into Circle’s explosive 10x IPO, Robinhood’s surprise crypto surge, and why Coinbase is finally catching up. Plus: the Kalshi vs. Polymarket drama, ICOs creeping back, and how meme coins might soon help you get a mortgage. Also: Vitalik’s Layer 1 pivot, prediction markets heating up, and signs of a new retail cycle forming. Tom Schmidt & Chopping Block https://x.com/tomhschmidt https://x.com/_choppingblock https://x.com/dragonfly_xyz ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS & RESOURCES 0:00 Intro 0:46 Tom’s crypto vibe check 1:50 Markets 26:53 Kalshi Series C https://x.com/tomhschmidt/status/1937957381197185165 https://www.wsj.com/finance/prediction-market-kalshi-hits-2-billion-valuation-in-new-funding-round-2d0c8b4c https://x.com/tomhschmidt/status/1937957381197185165 https://x.com/hosseeb/status/1938065110351716707 36:50 US regulator orders Fannie Mae, Freddie Mac to consider crypto for mortgages https://x.com/pulte/status/1937944964656152800 https://x.com/crypto_bobby/status/1937951968619639046 43:44 Ethereum https://x.com/TrustlessState/status/1936037598805590364 49:04 What Tom’s excited about 53:01 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Tether CEO Paolo Ardoino returns to Bankless at a historic moment for stablecoins. With the Genius Act advancing in the U.S. Congress, Paolo discusses what regulatory clarity means for Tether, the future of USDT, and the company’s plans to launch a domestic stablecoin. We explore the Circle IPO hype, Tether’s eye-popping profits, its growing presence in the U.S. Treasuries and Bitcoin mining, and how grassroots distribution across emerging markets powers its dominance. Paolo also gives a glimpse into Tether’s ambitions in AI, tokenized gold, and the battle to distribute the dollar where banks can’t reach. ------ 🎬 DEBRIEF | Ryan & David Unpacking the Episode https://www.bankless.com/podcast/debrief-the-stablecoin-king-tether-ceo-paolo-ardoino ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 5:32 GENIUS Act 12:54 Tether & The US 22:13 Domestic Competition 26:23 Circle IPO 23:36 Handling Pressure 28:32 Stablecoin Valuations 31:38 Winning the Next Chapter 36:52 USDT in Emerging Markets 41:58 Tether & Crypto Correlation 45:52 Tether Ventures 53:25 Tether Wallet? 56:44 Tether & Bitcoin 1:00:15 Other Assets 1:01:07 Bitcoin Mining 1:04:58 Tokenized Gold 1:09:01 GENIUS Act Consequences 1:12:27 Europe 1:14:49 Why Tether is Good 1:17:50 Closing & Disclaimers ------ RESOURCES Paolo Ardoino https://x.com/paoloardoino USDT Insights https://usdt.network/ Tether https://tether.io/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Welcome to the Weekly Rollup, where we cover this week in Crypto. We unpack the implications of the Genius Act's passage, which positions the U.S. to lead in digital assets and spurs optimism around stablecoins potentially hitting a $3.7 trillion valuation by 2030. Also: JP Morgan’s surprising entry into the stablecoin market and Coinbase’s launch of new products, including a Bitcoin cashback credit card. ——— 🤌 BANKLESS SUMMIT | SEE US AT DEVCONNECT https://lu.ma/0ph1qg6c ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS & RESOURCES 0:00 Intro 2:55 Markets https://www.coingecko.com/en/coins/bitcoin https://www.coingecko.com/en/coins/ethereum 8:00 ETFs https://x.com/jseyff/status/1934591572710211587 https://x.com/cointelegraph/status/1933534615395815761 https://x.com/JSeyff/status/1933635898140192849 https://x.com/JSeyff/status/1935043249141322017 https://x.com/EricBalchunas/status/1932527239679095097 12:00 Macro https://x.com/NickTimiraos/status/1935397119772217715 https://x.com/scottmelker/status/1935382005866189003 https://x.com/elerianm/status/1933505682625417521 https://www.ft.com/content/0d175cad-db7c-4dc2-83a8-90736f96f198 https://x.com/thomas_fahrer/status/1934056640476770678 https://x.com/treenewsfeed/status/1934589597394084071 https://x.com/erictrump/status/1934665029866881155 29:00 The GENIUS Act Passes the Senate https://x.com/SenatorHagerty/status/1934942333859979279 https://x.com/SenatorHagerty/status/1935491670805754100 https://x.com/SecScottBessent/status/1935027160374210573 https://x.com/secscottbessent/status/1935404649718157691 https://polymarket.com/event/genius-act-signed-into-law-in-2025?tid=1750338903189 https://x.com/TFTC21/status/1935027661421822149 https://x.com/RyanSAdams/status/1935371112403116518 https://x.com/intangiblecoins/status/1935095696454984027 https://x.com/intangiblecoins/status/1933583236778578274 https://x.com/pete_rizzo_/status/1933484989334659136 https://x.com/CryptosR_Us/status/1935475419286798505 38:30 JPMorgan Stablecoin JPMD https://x.com/tier10k/status/1934684065875284187 https://x.com/base/status/1935055475252543823 43:00 INK Kraken Token https://x.com/inkonchain/status/1934992073024823560 https://x.com/DefiIgnas/status/1935274751322435769 44:50 EigenLayer announces EigenCloud https://x.com/ethereum/status/1935010523776430587 https://x.com/ViktorBunin/status/1934969360851857532 https://x.com/sreeramkannan/status/1935028483044032921 https://youtu.be/P2PGQIe9U6g?si=Q6ZZPy9KzyPQLBaA 47:43 Blockworks Token Transparency Framework https://x.com/Blockworks_/status/1935321626788380714 50:10 Coinbase Product Launches https://x.com/brian_armstrong/status/1933290398799065459 https://x.com/tier10k/status/1933238313567080716 https://x.com/tier10k/status/1933238313567080716 https://x.com/CoinbaseBiz/status/1933228168783278110 https://x.com/vivek4real_/status/1933230638842232989?s=46 https://blog.base.dev/commerce-payments-protocol https://www.reuters.com/business/coinbase-seeking-us-sec-approval-offer-blockchain-based-stocks-2025-06-17/ https://x.com/luke_metro/status/1934061707158081538 https://x.com/KafiSq8/status/1934026011898683724 58:30 Roman Storm’s Legal Defense https://x.com/ethereumfndn/status/1933564840112435567 https://x.com/ethereumfndn/status/1894704611606385012 https://x.com/rstormsf/status/1933502107577168047 59:25 Stablecoin Summer vs The Plot https://x.com/mrjasonchoi/status/1935555875013538229 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Today, we discuss the recently passed Genius Bill with Senator Bill Hagerty, a key architect behind the legislation aimed at stabilizing the U.S. stablecoin market. Following a significant bipartisan Senate vote of 68-30, Sen. Hagerty shares insights on the evolving congressional perception of cryptocurrency, moving from skepticism to support. The bill seeks to foster a regulatory environment that encourages innovation while protecting users and maintaining America’s leadership in financial technology. The episode also highlights the potential economic benefits of a strong stablecoin framework and addresses concerns regarding Central Bank Digital Currencies (CBDCs). ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Introduction to the Genius Bill 5:43 Welcoming Senator Bill Haggerty 8:55 Next Steps for the Bill 11:16 Why America Needs Stablecoin Law 14:07 Fostering a Domestic Stablecoin Economy 15:23 Addressing Detractors of the Bill 18:06 Understanding Stablecoins vs CBDCs 20:27 Who Can Issue Stablecoins? 21:01 Path for Offshore Issuers 23:54 Surveillance Concerns with Stablecoins 26:10 Addressing the Trump Loophole 27:34 The Bipartisan Nature of Crypto 28:52 Senator Haggerty's Evolution on Crypto 32:17 Establishing a Clear Regulatory Framework 34:51 Future Steps for the Crypto Industry ------ RESOURCES Sen. Bill Hagerty: https://x.com/SenatorHagerty The GENIUS Act: https://www.congress.gov/bill/119th-congress/senate-bill/394/text Sec. Bessent’s Tweet: https://x.com/SecScottBessent/status/1935027160374210573 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

In this episode, Jeremie and Edouard Harris, co-founders of Gladstone AI and national security advisors, join us to break down the real score in the U.S.–China AI race. We unpack what it actually means to “win” in AI: from cutting-edge model development and compute infrastructure to data center vulnerabilities, state-sponsored espionage, and the rise of robotic warfare. The Harris brothers explain why energy is the hidden battleground, how supply chains have become strategic liabilities, and why export controls alone won’t save us. This is not just a geopolitical showdown - it’s a race for superintelligence, and the clock is ticking. ------ 💫 LIMITLESS | SUBSCRIBE & FOLLOW https://limitless.bankless.com/ https://x.com/LimitlessFT ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 1:05 AI race: who's ahead? 4:41 Framing AI as an arms race 12:58 Gov't awareness of AI conflict 20:38 AI reports feel like sci-fi 24:44 China vs US: model race 29:11 Shift to inference-time compute 31:19 China’s software vs US hardware 34:28 Open vs closed source politics 38:56 China’s energy dominance 43:32 America’s electric grid lag 47:55 Supply chain vulnerabilities 56:30 US chipmaking onshoring 1:01:08 U.S. lead in chips 1:04:00 DUV vs EUV bottlenecks 1:08:26 Manufacturing gap in robotics 1:11:53 Fear vs optimism in culture 1:17:26 Coordination vs dynamism 1:22:10 Bot-driven opinion warfare 1:25:58 China pushing degrowth narratives? 1:29:05 National security recommendations 1:33:36 Co-op or conflict endgame? 1:37:27 Closing ------ RESOURCES Jeremie Harris https://x.com/jeremiecharris Edouard Harris https://x.com/harris_edouard America’s Superintelligence Project https://superintelligence.gladstone.ai/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

EigenLayer is back with a major announcement: EigenCloud. Sreeram Kannan and JT Rose unveil the first crypto-native cloud platform—a verifiable, programmable environment for building applications beyond the limits of traditional blockchains. We explore how EigenCloud packages modules like EigenDA, EigenVerify, and EigenCompute into a developer-friendly product that brings cloud-scale computation and crypto-grade trust guarantees together. From meme coins and AI agents to fully sovereign applications, we dig into what makes this launch a pivotal step for crypto infrastructure and why it might just reignite Ethereum’s original ambitions. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 0:14 Introducing EigenCloud 12:39 Solving Programmability Bottlenecks 32:45 Apps EigenCloud Unlocks 54:00 Promoting EigenCloud 58:39 Total Addressable Market 1:02:53 Developer Action Items 1:06:19 Closing & Disclaimers ------ RESOURCES EigenCloud Announcement https://x.com/eigenlayer/status/1934961135515828501 EigenCloud https://eigencloud.xyz/ Sreeram Kannan https://x.com/sreeramkannan JT Rose https://x.com/jt_rose ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

In this deeply personal episode, Sahil Bloom joins Ryan Sean Adams to explore what it truly means to be wealthy and why so many high achievers get it wrong. After hitting burnout, Ryan stepped away from the grind to reassess his definition of success. What he found was a framework that reframed his entire life: the Five Types of Wealth. Together, they unpack why net worth alone is a poor scoreboard, how to avoid the trap of “never enough,” and what it means to build time, social, mental, physical, and financial wealth in harmony. This conversation is both a blueprint and a reboot, for anyone chasing more, and wondering why it still doesn’t feel like enough. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo 🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 3:22 Measuring Wealth 6:10 Beyond Net Worth 13:29 Burnout Moment 15:47 The Cost of Misaligned Effort 25:47 The Five Types of Wealth 27:47 Wealth Isn’t Swappable 34:05 Freedom Starts With Defining “Enough” 43:09 The “Enough” Excuse 47:31 Why We Feel Time-Starved 50:09 Digital Distractions and Overcommitment 55:46 The Two-List Exercise 57:38 The Morning ‘Boot Up’ Sequence 1:03:30 Reinvesting in Your Closest People 1:10:19 Too Busy to Connect 1:12:23 The Mental Wealth 1:14:11 The Life Razor 1:18:26 The Physical Wealth 1:24:40 Staying on Plan 1:25:56 Grounded Success 1:27:56 High Agency People 1:29:03 Closing ------ RESOURCES Sahil https://x.com/SahilBloom Sahil’s Blog https://sahilbloom.substack.com/ The 5 Types of Wealth https://www.the5typesofwealth.com/ RSA Reboot https://x.com/RyanSAdams/status/1915115437505049055 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

This week, Ryan and David unpack Circle’s stunning IPO debut, soaring to a $25B market cap and triggering Wall Street’s stablecoin frenzy. They break down the landmark Genius Act vote, bringing unprecedented regulatory clarity to stablecoins, and dive into Stripe’s latest crypto bet, acquiring wallet innovator Privy. Polymarket goes mainstream in an official integration with Twitter, while SEC Chair Paul Atkins embraces DeFi as fundamentally American. Plus, Gemini quietly files for IPO, Plasma’s billion-dollar Tether chain ignites, and Trump unexpectedly endorses crypto at Coinbase. ------ 📣LIMITLESS | SUBSCRIBE & FOLLOW https://pod.link/1813210890 https://x.com/LimitlessFT 📣BANKLES JOBS | COME WORK WITH US https://x.com/i/jobs/1929889475783520481 https://x.com/i/jobs/1929890683927638133 https://x.com/i/jobs/1915861900677812658 ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS & RESOURCES 0:00 Intro 3:59 Markets https://x.com/KobeissiLetter/status/1932526577897595233 https://x.com/rovercrc/status/1930951805191778369 https://x.com/hosseeb/status/1931457548760334723 https://x.com/elonmusk/status/1932695486684950962 https://x.com/DavidShapiro98/status/1932696393937785058 https://x.com/blknoiz06/status/1932072994731647435 https://x.com/nypost/status/1933109968510550430 15:02 US Senate is about to pass the GENIUS Act https://x.com/Cointelegraph/status/1932988965037978084 https://x.com/intangiblecoins/status/1932868994165354703 https://x.com/SenatorBennet/status/1932864987208249597 https://x.com/SenWarren/status/1932858887482507604 https://www.banking.senate.gov/imo/media/doc/20250611_warren_blumenthal_letter_to_meta_re_stablecoin.pdf https://x.com/RyanSAdams/status/1932877097623588922 27:35 Did Circle kickoff Stablecoin Summer? https://www.tradingview.com/chart/?symbol=NYSE%3ACRCL https://x.com/MikeIppolito_/status/1932070226939810164 https://x.com/TaikiMaeda2/status/1929538665560031641 https://x.com/RyanSAdams/status/1932424510738673711 https://x.com/PlasmaFDN/status/1932072359080415702 https://www.barrons.com/articles/circle-ipo-crypto-retail-frenzy-06659b30? https://x.com/perkinscr97/status/1931032964349276313 39:54 Stripe acquired Privy https://x.com/privy_io/status/1932816495719166167 https://x.com/patrickc/status/1932817864450584939 42:41 Polymarket became official prediction market of X! https://x.com/xai/status/1932481207180406923 https://x.com/shayne_coplan/status/1931008087688614155 44:50 Morpho Labs will be soon fully owned by MORPHO token holders https://x.com/PaulFrambot/status/1930971485142761909 https://youtu.be/IJN_pgkKPjA?si=963i8GioANnNoVAR https://x.com/MorphoLabs/status/1933162070465208423 49:17 Paul Atkins defended DEFI as the foundation American values https://x.com/SECGov/status/1932137708068970924 https://x.com/SECGov/status/1932137708068970924 53:15 World Liberty Financial will acquire TRUMP for its treasury https://x.com/EricTrump/status/1931089248926490772 https://x.com/coinbase/status/1932836009034617183 54:38 Closing & Disclaimers 55:13 Moment of Zen https://x.com/BitcoinMagazine/status/1933172630099837134 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠