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ROLLUP: Bull Market? | Inflation Cools, War Heats | Robinhood Flips Base | ETH’s Fee Problem

17 juli 2026 · 1 uur 7 min
Afspelen

Inflation cooled, war intensified, and crypto climbed anyway. Ryan and David ask if the bottom is in, unpack Robinhood Chain’s surge past Base, and debate who benefits from Ethereum’s L2 boom. Lees meer

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TIMESTAMPS

0:00 Intro

0:29 Cycle Bottom Watch

https://x.com/TrustlessState/status/2077774313726304659

https://x.com/goodalexander/status/2077031311664197738

https://x.com/brian_armstrong/status/2076857638059720736

5:24 Inflation Cools, War Heats

https://x.com/kobeissiletter/status/2077008212994253025

https://x.com/geiger_capital/status/2077011477580451983

14:56 Crypto Outperforms Stocks

https://x.com/saylor/status/2076638696053276748

https://x.com/TrustlessState/status/2076647130572235017

https://x.com/TrustlessState/status/2077197119207756098

22:34 Robinhood Chain Breaks Out

https://x.com/donnoh_eth/status/2075890751834071189

https://dune.com/entropy_advisors/robinhood-chain-network-overview

https://www.coindesk.com/business/2026/07/15/the-launchpad-that-fueled-robinhood-chain-s-memecoin-boom-just-gave-away-all-its-revenue

https://dune.com/adam_tehc/the-robinhood-trenches

29:31 Base Pivots to Trading

https://x.com/jessepollak/status/2077427261586997745

https://x.com/jessepollak/status/2077550728416256489

https://x.com/austincampbell/status/2077545305789067398

36:15 Does ETH Earn Enough?

https://x.com/vladtenev/status/2076666114801877310

https://x.com/LorenzoARK/status/2076792007184298076

https://x.com/apolynya/status/2077301418860466487

https://x.com/TrustlessState/status/2077400104458154428

https://x.com/ethereumJ…
Why Every Chain, Wallet & App Is Integrating NEAR Intents | Kendall Cole

16 juli 2026 · 56 min
Afspelen

NEAR wants users to stop thinking about blockchains altogether. Proximity Labs co-founder Kendall Cole joins David to explain how NEAR Intents connects 35 chains, powers products like Infinex, brings tokenized assets and confidential transactions into one seamless experience, and turns fragmented crypto markets into a single account where users see assets, not infrastructure. Lees meer

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TIMESTAMPS

0:00 Intro

2:29 Chains Need Neutrality

4:20 Near’s Chain Abstraction Vision

6:03 Wallets to Retail Expansion

9:30 Bootstrapping Liquidity and Partners

11:23 RWA Asset Explosion

15:00 Tokenized Stocks on Near

15:57 One App Across Chains

19:01 Near as Chain Abstraction

21:35 Trading Bots and Payments

24:54 MiCA’s Market Shock

28:16 Noncustodial Compliance Strategy

29:17 Euro Onramps into Near

31:38 Regulation Meets On-Chain Freedom

38:09 Confidential Intents Launch

41:15 Privacy for Users and Firms

43:36 Private Zcash Routing

46:50 Privacy for AI Models

49:52 Near’s Fee Capture Model

52:19 Crypto as Exchange Infrastructure

---

RESOURCES

Kendall Cole

https://www.linkedin.com/in/kendall-cole-91b00534/

Proximity Labs

https://x.com/proximityfi

Near Intents

https://x.com/near_intents

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Jito Declares War on Coinbase & Binance | Lucas Bruder on the Launch of JTX

15 juli 2026 · 50 min
Afspelen

Onchain trading infrastructure is reaching a point where it can seriously compete with centralized exchanges. Jito founder Lucas Bruder joins David to introduce JTX, a new prosumer trading terminal built to bring major crypto assets, tokenized equities, perps, and eventually global markets into one onchain experience. Lees meer

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TIMESTAMPS

0:00 Solana and Tokenized Stocks
2:22 What Is JTX?
8:44 A Better Trading UX
11:25 Better Execution
15:37 The JTX Roadmap
19:35 JTO and SOL Tokenomics
25:23 Why Solana Got Better
29:34 Prop AMMs Explained
37:25 Liquidity and Market Makers
40:04 Solana vs. Robinhood Chain
46:51 The JTX Rollout
48:07 Global Markets and the SOL Thesis

---
RESOURCES

Lucas Bruder
https://x.com/buffalu__

JTX
https://x.com/jtx_trade

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Is Bitcoin Going According to Plan? Gold, Saylor, Satoshi | Dan Held

13 juli 2026 · 56 min
Afspelen

What happens when rebel money becomes institutional money? In this episode, David sits down with Bitcoin OG Dan Held to ask whether Bitcoin is actually going according to plan. They unpack Bitcoin’s cypherpunk origins, the rise of ETFs and corporate treasuries, Michael Saylor’s influence, Bitcoin’s missed scaling opportunities, privacy tradeoffs, quantum risk, the Satoshi mystery, and why Dan thinks Bitcoin can still flip gold. Lees meer

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TIMESTAMPS

0:00 Is Bitcoin Going According to Plan?
2:39 Bitcoin’s Culture Changed, But Did the Code?
9:06 From Magic Internet Money to Digital Gold
15:08 Michael Saylor, Strategy and Concentration Risk
20:08 Is Bitcoin Becoming Too US-Coded?
24:12 Did Bitcoin Miss Its Scaling Moment?
29:42 Privacy, Cash and Bitcoin’s Tradeoffs
32:15 Satoshi’s Design Choices
37:50 BIPs, Quantum Risk and Bitcoin Upgrades
41:35 How Urgent Is Quantum?
44:14 The Satoshi Mystery
47:38 Bitcoin’s Next Phase of Adoption
49:23 Will Bitcoin Flip Gold?
53:11 Being Early Looks Crazy

---
RESOURCES

Dan Held
https://x.com/danheld

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: War Returns, Markets Shrug | Saylor Sells | Robinhood Memecoins | Ethereum 3.0?

10 juli 2026 · 1 uur 5 min
Afspelen

War with Iran is back, but markets barely blinked. Ryan and David unpack Saylor’s $216 million Bitcoin sale, whether it marked the bottom, Robinhood Chain’s memecoin breakout, and Vitalik’s “Ethereum 3.0” roadmap. Lees meer

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TIMESTAMPS

0:00 Intro

3:12 Iran War Returns, Markets Shrug & Saylor Sells 3,588 BTC — Was That the Bottom?

https://x.com/DrEliDavid/status/2074781504757027087

https://x.com/saylor/status/2074101854875656316

https://www.bankless.com/read/how-strategy-can-sell-billions-in-bitcoin

https://x.com/rob_e89rtosmit/status/2074484772622172307

20:17 Robinhood Chain’s First Hit: Memecoins

https://x.com/vladtenev/status/2074695821896065360

https://x.com/haydenzadams/status/2075062776473546979

https://www.coindesk.com/tech/2026/07/09/cashcat-trader-turns-usd800-into-over-usd1-million-on-robinhood-s-brand-new-blockchain

https://dune.com/entropy_advisors/robinhood-chain-network-overview

28:17 Ethereum 3.0? Vitalik’s New Strawmap

https://x.com/VitalikButerin/status/2073459000398463446

https://strawmap.org

https://x.com/r2Jamong/status/2074053557284982925

https://x.com/barnabemonnot/status/2073708226701328474

https://x.com/dankrad/status/2073532475431887354

https://x.com/DefiIgnas/status/2073480431887056958

45:46 JPMorgan’s $700M Ethereum Fund & Paradigm Fundraise

https://cryptobriefing.com/jpmorgan-jltxx-tokenized-money-market-fund-surges-250-percent/

https://x.com/TradingProtocol/status/2074383012939141407

https://x.com/matthuang/status/2074873573983035801

53:13 The Fight for 24/7 Markets & David’s Portfolio Check-In

https://x.com/jchervinsky/status/2075230297134645744

https://x.com/econoar/sta…
How Hyperliquid Becomes the Backend for ALL of Finance | Tushar Jain

7 juli 2026 · 54 min
Afspelen

Multicoin provides investment advice to certain private fund clients that own HYPE tokens discussed herein and stands to gain in the event that the price of the token increases.
Multicoin's HYPE valuation report discussed in this podcast can be found as a link in the show notes.
Any trading discussion is for informational purposes only and is not a recommendation to engage in derivatives, leverage, or any specific trading strategy. Lees meer

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Hyperliquid is already one of crypto’s biggest perp stories, but Multicoin’s Tushar Jain thinks the market may still be looking at it too narrowly. In this episode, David sits down with Tushar to unpack the deeper thesis: portfolio margining as the hidden unlock, HIP3 and builder codes as the path to platformization, real traction versus farmed volume, and why HYPE’s value-capture model is unusually direct for crypto.

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TIMESTAMPS

0:00 Intro
1:50 Perps Get TradFi’s Attention
3:17 More Than a Perp DEX
6:29 Why Portfolio Margining Matters
11:13 HIP3 and Permissionless Market Creation
13:47 Hyperliquid Becomes a Platform
19:54 The On-Ramp Question
21:36 Perps Are Not the Whole Thesis
28:04 Cash Flow as the Credibility Signal
33:05 Valuation Multiples and Lighter
34:36 Multicoin’s HYPE Framework
42:05 Token Value Capture
43:34 Unlocks, Wealth, and Team Motivation
48:30 The US Perps Question
52:27 Does Hyperliquid Need to Come Onshore?
54:32 The Final Bull Case

---
RESOURCES

Tushar Jain
https://x.com/tushar_jain

Multicoin's Hype Analysis and Valuation report can be found here:
https://multicoin.capital/2026/06/25/hyperliquid-hype-analysis-and-va…
The Rise of Robinhood Chain: Tokenized Stocks, Perps, and 27M Users | Johann Kerbrat

6 juli 2026 · 31 min
Afspelen

Robinhood Chain is live, and it may be one of the clearest signs yet that traditional finance is moving onto Ethereum rails. Johann Kerbrat, VP of Crypto at Robinhood, joins David to unpack the launch of tokenized stocks, USDG yield through Morpho, regulated and crypto-native perps, the Lighter integration, and why Robinhood Wallet is being built for the billions of people who have never used crypto before. Lees meer

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TIMESTAMPS

0:00 Intro
1:45 Robinhood Chain Goes Live
2:45 Robinhood’s 15-Product Crypto Push
5:47 Tokenized Stocks on Robinhood Chain
11:32 USDG Yield and Robinhood Earn
16:19 Perps Across Robinhood, Bitstamp, and Lighter
19:44 The Lighter Partnership
23:12 Will Robinhood and DeFi Converge?
27:15 Why Robinhood Chose Arbitrum
28:40 Building Crypto for Non-Crypto Users
31:36 How to Get Started on Robinhood Chain

---
RESOURCES

Johann Kerbrat
https://x.com/JohannKerbrat

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: Crypto Bullish Again? | OpenUSD vs USDC | Robinhood Chain | Trump’s $1.4B Haul

3 juli 2026 · 1 uur 4 min
Afspelen

Crypto looks bullish again, but the receipts are complicated. David and Ryan unpack OpenUSD’s USDC threat, Robinhood Chain’s tokenized stocks, Saylor’s hedge-fund pivot, Venice’s token dilemma, Cloudflare’s stablecoin payments, and Trump’s $1.4B crypto haul. Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS & RESOURCES

0:00 Intro

2:37 Market Bounce + Fed Watch

https://x.com/KillaXBT/status/2072288076928266434

https://www.cnbc.com/2026/07/01/kevin-warsh-ecb-forum-live-updates.html

https://polymarket.com/event/fed-decision-in-july-181

https://thedefireport.io/research/52-of-the-btc-supply-is-now-in-the-red

https://x.com/Geiger_Capital/status/2072660106035028395

8:37 Strategy’s Digital Credit Capital Framework

https://x.com/saylor/status/2071565162377568377

https://x.com/Strategy/status/2071565225699004761

16:37 The Rise of Robinhood Chain

https://x.com/RobinhoodApp/status/2072390893181481419

https://x.com/charliekerr/status/2072477658802217187

https://x.com/EntropyAdvisors/thread/2072395320752050212

https://x.com/trent_vanepps/status/2072405895313588351

https://x.com/Lighter_xyz/status/2072394977729040722

https://x.com/Lighter_xyz/status/2072401925094441109

26:10 Venice AI Becomes a Unicorn

https://techcrunch.com/2026/07/01/venice-ai-becomes-a-unicorn-with-65m-series-a-as-its-privacy-first-ai-platform-takes-off/

https://x.com/ErikVoorhees/status/2072326370206581037

https://x.com/ErikVoorhees/status/2072336126912630921

https://x.com/MikeIppolito_/status/2072353260795572281

https://x.com/ChainLinkGod/status/2072378849921577306

https://x.com/CosimoCapital/status/2072450958270050394

35:07 OpenUSD vs USDC

https://joinopenstandard.com/blog/introducin…
How Ondo Is Bringing Stocks and Perps Onchain | Ian De Bode

2 juli 2026 · 48 min
Afspelen

The stock market is starting to move onchain, and Ondo is one of the teams building the rails. Ian De Bode joins David to explain how Ondo brought tokenized SpaceX stock to Ethereum minutes after trading began, why tokenized equities need real market liquidity instead of shallow DEX pools, and how Ondo Perps could unlock a new generation of RWA trading by using tokenized stocks as collateral. Lees meer

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TIMESTAMPS

0:00 Ondo’s RWA Moment
1:17 How SpaceX Stock Hit Ethereum in Minutes
2:57 What Actually Backs a Tokenized Stock?
4:49 The Onchain and Offchain Market Machine
10:29 Where the Demand Comes From
12:46 The Most Popular Tokenized Stocks
14:54 Why Perps Need Better Collateral
20:46 New Strategies for Onchain Asset Management
25:02 The Next 12 to 18 Months
26:14 How Big Can Perps Get?
28:46 Offshore Versus Onshore Perp Markets
32:05 Inside Ondo Perps
36:24 Why Not Build on Hyperliquid?
37:49 Launch Timeline and Early Demand
39:48 Will Wall Street Incumbents Compete or Help?
43:52 Ondo’s 2026 Roadmap
45:22 Remembering Nathan Allman

---
RESOURCES

Ian De Bode
https://x.com/iandebode

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Strategy is Trapped & in Crisis — "It's Basically a Hedge Fund Now" | Jeff Dorman & Matt Walsh

1 juli 2026 · 54 min
Afspelen

Michael Saylor’s Strategy bought itself time, but did it actually solve the problem? David sits down with Jeff Dorman and Matt Walsh to unpack Strategy’s increasingly complex capital structure, why $STRC and MSTR are now fighting for oxygen, whether Saylor may need to sell Bitcoin, and why the company is starting to look less like a levered BTC play and more like an actively managed hedge fund. Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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---

TIMESTAMPS

0:00 Intro

2:30 Can Stretch Return to 100?

4:00 Explaining the New Framework

4:43 Can the Capital Stack Coexist?

6:39 Refunding the Converts

8:32 MNAV Near the Breaking Point

11:15 Option Value or Investor Betrayal

15:37 Legal Risk and Retail Exposure

19:52 Buying Time, Not Solving It

22:20 Scenario Odds After the Pivot

24:54 Sell Bitcoin or Wait

28:59 M&A as a New Path

34:13 Temporary Relief, Future Crash

36:21 Slow Bleed, Not Bankruptcy

40:58 Bitcoin Needs a Bigger Narrative

46:56 Would Jeff Buy Stretch?

48:26 Is the Model Actually Genius?

52:09 Closing & Disclaimers

---

RESOURCES

Matt Walsh

https://x.com/MattWalshInBos

Jeff Dorman

https://x.com/jdorman81

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Ethlabs: The New Org to Make Ethereum Win | Ansgar & Caspar

29 juni 2026 · 59 min
Afspelen

Ethereum has a new R&D lab, and its mission is blunt: make Ethereum and ETH win. In this episode, David sits down with Ansgar and Caspar, two co-founders of Ethlabs, to unpack why the organization exists, how it complements the Ethereum Foundation, and what it means to put Ethereum back on offense. Lees meer

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---
TIMESTAMPS

0:00 What is Ethlabs?
2:35 The EF Narrows Its Mission
9:30 Putting Points on the Board
13:06 Principles Need Users
14:53 ETH the Asset and Ethereum the Network
17:33 Scaling, Interop, and Growth Workstreams
22:52 The Talent Behind Ethlabs
25:27 What a New Organization Unlocks
27:53 Pro Markets, Pro Growth, Pro ETH
30:51 The Trillion Dollar ETH Question
37:07 Who Steers Ethereum?
39:55 Shared Vision, Different Path
45:13 Funding Ethlabs
51:54 Hiring for Ethlabs
54:24 Ethereum’s Long Arc
58:14 What Comes First

---
RESOURCES

Ansgar Dietrichs
https://x.com/adietrichs

Caspar Schwarz-Schilling
https://x.com/casparschwa

Ethlabs
https://ethlabs.org/

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: Bitcoin Breaks Below $60K | Saylor’s Three Bad Options | ETH Labs | The Quantum Clock

26 juni 2026 · 1 uur 4 min
Afspelen

Markets are bleeding as Bitcoin breaks below $60K and Strategy faces its biggest test yet. Ryan and David unpack Saylor’s three-way squeeze, ETH Labs vs. the EF reset, quantum timelines moving up, and Illinois’ new crypto tax. Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS
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---
TIMESTAMPS

0:00 Intro

3:35 Bitcoin Below $60K and Strategy’s 3 Body Problem
https://www.tradingview.com/chart/KZYJV3ef/
https://www.strategy.com/
https://x.com/saylor/status/2069028571880845340
https://x.com/saylor/status/2069682624956612731
https://x.com/Pentosh1/status/2069797143917855024
https://x.com/jdorman81/status/2067616073479078386
https://x.com/jdorman81/status/2069857950202835258
https://x.com/ki_young_ju/status/2069646523668033833
https://x.com/PeterSchiff/status/2070146847692185798
https://polymarket.com/event/what-price-will-bitcoin-hit-before-2027

17:59 ETH, Stocks, South Korea Selloff, and the AI Trade

20:59 Why Crypto Is Down: AI Attention, Debasement Pause, and the 4-Year Cycle

27:06 Mover of the Week: $CARDS and Pokemon Cards as RWAs
https://www.coingecko.com/en/coins/collector-crypt

31:32 Ethereum’s Center of Gravity Shifts: EF Cuts and ETH Labs
https://x.com/VitalikButerin/status/2069431500035023121
https://blog.ethereum.org/2026/06/23/ef-structure
https://x.com/aerugoettinea/status/2069017140846330107
https://x.com/tkstanczak/status/2069454499509596582
https://x.com/bobbyong/status/2069965817882755342
https://x.com/ethlabs_org/status/2069104073245159573
https://ethlabs.org/thesis.html
https://x.com/TrustlessState/status/2069110440903196810
https://x.com/trent_vanepps/status/20675931243…
AI, Surveillance, and the Fight for Digital Sovereignty | Near's Illia Polosukhin

23 juni 2026 · 57 min
Afspelen

What happens when powerful AI requires an ID, governments can restrict access by country, and your most private data flows through centralized systems? NEAR co-founder Illia Polosukhin joins David to explain why AI export controls could fracture the internet, how nationalized AI could become a surveillance layer, and why decentralized, user-owned AI may be the only real alternative. They also unpack Ironclaw, confidential inference, private agents, and NEAR’s push to make AI and assets fully sovereign. Lees meer

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TIMESTAMPS

0:00 Intro

3:47 Pandora’s Box Opens

6:03 AI Meets Government

7:16 Decentralizing the Stack

8:51 Why Ban Fable?

11:18 Internet Balkanization

13:57 KYC for AI?

18:43 Nationalized Models

21:07 Building Private AI

26:30 Agent Marketplace

30:26 User-Owned Alignment

35:28 Winning Against Giants

40:19 Regulation Fuels Crypto

42:24 Global AI Adoption

45:05 Compute Is the Bottleneck

49:00 Enterprise Use Cases

51:39 Confidential TVL Explained

55:25 Full Sovereign Mode

---

RESOURCES

Illia Polosukhin

https://x.com/ilblackdragon

Near Protocol

https://www.near.org/

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
"The Fed Can't Print Moore's Law" - How the AI Crash Sends Bitcoin to $1M | Arthur Hayes

22 juni 2026 · 58 min
Afspelen

Arthur Hayes is back on Bankless, and he’s taking the W off the table. After selling HYPE, NEAR and ZEC, Arthur walks through why the AI trade started to look less asymmetric, why oil and geopolitics may still be the bear case no one wants to price, and why ETH may offer one of the cleaner setups in crypto today. Then the conversation turns bigger: AI capex, circular revenue, China’s cheap models, GPU depreciation, and the moment Arthur thinks the Fed discovers it can’t print Moore’s Law.
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---
TIMESTAMPS
0:00 Why Arthur Sold HYPE, NEAR and ZEC
4:26 The AI Trade Starts to Look Crowded
6:25 How Arthur Is Positioned Now
7:15 Crypto’s Strange Market Dispersion
11:09 Oil, Iran and the Fake-Out Risk
14:16 Why the Iran Deal May Not Be Durable
17:29 Can AI Survive Higher Oil?
21:20 The AI Bubble Thesis
26:11 China’s Cheap AI Threat
30:38 The Credit Event Arthur Is Watching
35:51 The 2028 Perfect Storm
39:45 Why AI Is Draining Crypto’s Bull Market
44:28 Arthur on Inventing Perps
48:11 Why Perps Could Eat Wall Street
51:18 Socialized Loss Explained
53:21 Onshore vs Offshore Perps
55:50 Why Hyperliquid Can Flip Binance
56:30 The Perp Inventor Does Not Use Leverage
---
RESOURCES
Arthur Hayes
https://x.com/CryptoHayes
---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures Lees meer
ROLLUP: Saylor Risk? | Warsh’s New Fed | SpaceX IPO | Coinbase’s Everything Exchange

19 juni 2026 · 1 uur 1 min
Afspelen

Equities are rallying, but Bitcoin is breaking down. David and Tom unpack Saylor’s STRC stress, Warsh’s first FOMC, SpaceX’s mega-IPO, Jito’s breakout, Coinbase’s Everything Exchange, and why perps may be crypto’s next real growth engine. Lees meer

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---

TIMESTAMPS & RESOURCES

0:00 Intro

3:07 Equities Up, Crypto Down: STRC Stress

https://x.com/PeterSchiff/status/2067629492214829114

https://x.com/zackvoell/status/2067628541257429213

https://x.com/R89Capital/status/2067608064627491009

https://x.com/jdorman81/status/2067616073479078386

11:21 First FOMC with Kevin Warsh

https://www.businessinsider.com/kevin-warsh-first-fomc-fed-meeting-interest-rates-2026-6

16:35 SpaceX Becomes One of the World’s Most Valuable Companies

25:43 Mover of the Month: JTO

31:01 Coinbase System Update

https://www.coinbase.com/blog/system-update-take-control-of-your-money-with-coinbase

https://x.com/oost_marcel/status/2067268725883981841

https://x.com/coinbase/status/2066890566667796530

https://www.theblock.co/post/405012/coinbase-unveils-system-update-unlocking-an-ai-advisor-global-unified-liquidity-options-trading-and-more

37:42 Anchorage Brings Hyperliquid to Institutions

https://x.com/nathanmccauley/status/2066906951464947966

46:23 Blockworks Acquires Messari

https://x.com/blockworks/status/2065468327120576863

50:40 UK Moves to Ban Social Media for Children

https://x.com/keir_starmer/status/2066458640010158571

57:50 Polymarket World Cup Trade

https://…
How Re is Rebuilding the $1T Reinsurance Market with Stablecoins | Karn Saroya & Avichal Garg

18 juni 2026 · 59 min
Afspelen

Re is bringing the $1T reinsurance market onchain. Founder Karn Saroya and Electric Capital’s Avichal Garg join David to unpack how stablecoins can become a new capital source for insurance, why real-world reinsurance may offer crypto’s missing “real yield,” and how Re is using Ethereum, smart contracts, and AI to compete with legacy giants like Lloyd’s of London, Munich Re, and Swiss Re. They also discuss the RE token, the future of onchain capital markets, and why stablecoins could become the backbone of a new financial system. Lees meer

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---

TIMESTAMPS

0:00 Intro

2:13 Blockchain Reinsurance Edge

4:12 Stablecoin Capital Markets

9:17 Efficiency Beats Incumbents

13:02 Rewiring Insurance Plumbing

16:24 Durable Startup Advantage

23:26 Reinsurance Market Size

30:09 How Reinsurance Pays

32:42 Capital Stack Mechanics

35:52 Leverage and Yield

40:02 What $RE Tracks

41:34 Tranche Yields

42:36 Productive Capital Returns

44:47 Looping the Receipts

48:01 $RE Token Governance

51:26 Roadmap to a Billion

52:13 Onchain Adoption Ahead

56:02 The DeFi Mullet Future

---

RESOURCES

Re

https://re.xyz/home

Karn Saroya

https://x.com/karnsaroya

Avichal Garg

https://x.com/avichal

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Why The Pokémon Card Market Is Blowing Up | Andy8052

17 juni 2026 · 47 min
Afspelen

Pokemon cards are suddenly one of the hottest markets in collectibles. But why now, and what does it have to do with crypto? Andy8052 joins David to break down the rise of digital pack-opening platforms, the nostalgia-driven bull case for Pokémon, why grading companies have a stranglehold on the market, and how millions of dollars of real-world cards are slowly moving onchain. Are tokenized collectibles the next NFT comeback story, or just another frothy mania? Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

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---

TIMESTAMPS

0:00 NFTs to Pokémon Cards

2:59 Why Pokémon Is Hot

8:13 Nostalgia Meets Disposable Income

11:56 Brands, Influencers, and Hype

15:06 Pricing the Cards

16:21 Grading and Market Bottlenecks

22:16 Why Cards Still Aren't On-Chain

30:06 Inside Monster Strategy

34:40 Market Consolidation Ahead

35:42 Vaults, Shipping, and Logistics

38:13 Kids, Parents, and Collecting

40:45 Nostalgia Is the Real Bull Case

43:45 Where to Find Andy

44:35 Tokenized Cards and Stablecoins

---

RESOURCES

Andy8052

https://x.com/andy8052

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Perps Are Coming Onshore | CFTC Chairman Mike Selig

15 juni 2026 · 35 min
Afspelen

Perps are coming onshore. CFTC Chairman Mike Selig joins David to unpack the first U.S.-regulated Bitcoin perpetual futures contract, the end of regulation by enforcement, and what comes next for Coinbase, Kalshi, Kraken, Gemini, Hyperliquid, Lighter, and the broader U.S. perp market. They also discuss which assets could list next, how U.S. leverage will differ from offshore exchanges, and why equity perps, RWAs, and 24/7 trading may be the next frontier of American finance. Lees meer

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🌐BRIX | EMERGING MARKET YIELD

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS

0:00 Intro

3:32 Self-Certified Crypto Contracts

7:08 Chasing the U.S. Perps Market

9:00 Bringing Liquidity Onshore

10:18 U.S. Market Guardrails

12:44 Blockchain Transparency Advantage

19:17 Hyperliquid and Onchain Perps

23:09 Real-World Asset Perps

24:38 Equity Perps & SEC

26:35 Incumbents Versus Disruptors

31:28 Derivatives Dominating Crypto

33:16 Perps Are Just Beginning

---

RESOURCES

CFTC Chair Mike Selig

https://x.com/ChairmanSelig

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
ROLLUP: One More Dip? | Saylor Sold | IPO Season | Ethereum vs ETH

12 juni 2026 · 1 uur 8 min
Afspelen

Bitcoin is back at Biden-era prices, ETFs are bleeding, and Saylor just did the thing he said never to do: sell. Ryan and David unpack whether crypto has one more drop left, what trillion-dollar IPOs reveal about broken capital markets, and why their ETH debate may be the real fight for Ethereum’s future. Lees meer

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🌐BRIX | EMERGING MARKET YIELD

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS & RESOURCES

0:00 Intro

3:07 Markets

https://x.com/aggrnews/status/2063954465678410121

https://www.coindesk.com/markets/2026/06/01/analysts-agree-strategy-s-bitcoin-sale-was-immaterial-differ-on-future-signals

https://imgur.com/SDyYiQS

https://x.com/WatcherGuru/status/2063964293478101014

https://x.com/zoomerfied/status/2062288919853490553

https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-announces-pricing-of-upsized-series-a-perpetual-preferred-stock-offering-302792359.html

https://thedefiant.io/news/tradfi-and-fintech/bitmine-files-300m-preferred-stock-offering-9-5-yield-eth-treasury

https://www.coindesk.com/business/2026/06/03/tom-lee-s-bitmine-to-offer-preferred-stock-with-9-5-dividend-seeking-to-raise-usd300-million

https://imgur.com/tvIDofV

https://x.com/KobeissiLetter/status/2065049515384582205

https://polymarket.com/event/fed-rate-hike-in-2026

https://fred.stlouisfed.org/graph/

https://www.theguardian.com/business/2026/jun/11/ecb-eurozone-interest-rates-iran-war-inflation

30:11 IPO Season

https://app.lighter.xyz/trade/SPACEX

https://app.lighter.xyz/trade/ANTHROPIC

https://app.lighter.xyz/trade/OPENAI

36:29 Bankless Guys Are Fighting

https:/…
Is $LIT Cheap? | Will Price and Flip

9 juni 2026 · 1 uur 1 min
Afspelen

Hyperliquid has become the breakout perp exchange of crypto. But is the market missing its biggest competitor? Delphi’s Flip and DeFi investor Will Price join David to make the case for Lighter, a ZK-powered Ethereum L2 with zero-fee retail trading, white-glove distribution, real-world asset perps, and a token buying back revenue at a surprising rate. Is LIT just a Hyperliquid beta trade, or is it one of the most underpriced bets in onchain finance? Lees meer

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🌐BRIX | EMERGING MARKET YIELD

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS

0:00 Intro

3:05 Why Lighter Is Different

5:32 ZK Rollup Advantages

6:46 Charging Traders, Not Retail

12:07 Fairness Without MEV

14:50 Why Hyperliquid Can’t Copy

18:03 Distribution Beyond Crypto

22:08 Latency & Flow Quality

26:50 Technical Edge Across the Stack

30:31 RWAs & Pre-IPO Markets

34:07 U.S. Perps Market Play

36:05 Back-End For Big Brokers

38:28 Bootstrapping Liquidity

41:54 Lighter As A Platform

46:34 Token Value & Buybacks

50:11 Market Cap Versus FDV

53:02 Valuing LIT Properly

57:51 Cracked Team & Better Comms

58:13 Joining The Lighter Community

58:51 What Comes Next

---

RESOURCES

Will Price

https://x.com/will__price

Trevor Flipper

https://x.com/trevor_flipper

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Venice is Here to Win: How a Private AI Company Plans to Take On OpenAI and Anthropic

8 juni 2026 · 59 min
Afspelen

AI is quickly becoming the interface through which people think, work, and make decisions—but most users have no idea how much personal data they're handing over in the process. Jon and Jesse from Venice join David to make the case for privacy-first AI, explain why Venice is aiming to become a mainstream consumer AI brand, and explore how $VVV and DIEM transform inference into a crypto-economic primitive.
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---
TIMESTAMPS
0:00 Intro
1:12 Why Private AI Matters
3:01 The AI Data Honeypot
6:07 Venice’s Consumer AI Ambition
8:01 Beating the Big AI Labs
10:19 Model Aggregation and Agentic Chat
12:29 Open Source, Closed Source, and Private Grok
17:14 Who Actually Needs Private AI?
21:58 Venice’s User Base
23:53 What Drove Venice’s Recent Growth
27:21 $VVV, DIEM, and Tokenized Inference
29:00 Where Venice Gets Its Compute
32:17 Bonding Curves and DIEM Monetary Policy
39:14 Real Tokenomics, Not Just a Pie Chart
45:46 AI Agents Need Inference to Exist
52:54 ShapeShift DNA Inside Venice
55:53 Regulation, AI, and Individual Rights
---
RESOURCES
Jon ShapeShift
https://x.com/JonShapeShift
Jesse Proudman
https://x.com/jesseproudman
---
Not financial or tax advice. See our investment disclosures here:
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ROLLUP: Bitcoin’s Confidence Game | Bitmine’s ETH Bet | Token Rotation | U.S. Perps

5 juni 2026 · 58 min
Afspelen

Bitcoin is bleeding, STRC is off peg, and Saylor’s “never sell” machine is facing its first real confidence test. David and Haseeb unpack whether Strategy can survive without selling BTC, why Bitmine’s ETH play may be stronger but riskier, and what select token strength, U.S. perps, and Coinbase’s Ethena deal reveal about crypto’s next phase. Lees meer

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🌐BRIX | EMERGING MARKET YIELD

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS & RESOURCES

0:00 Intro

1:37 Saylor & Strategy Confidence Test

https://x.com/zerohedge/status/2061418482344849785

https://x.com/KobeissiLetter/status/2062475802252365980

https://x.com/glxyresearch/status/2062518531128746000

https://x.com/TrustlessState/status/2062499179239215390

13:26 DATs Underwater & Bitmine Preferred Offering

https://x.com/lookonchain/status/2062011412965405059

https://x.com/zoomerfied/status/2062288919853490553

34:19 Major Weakness & Select Token Strength

40:45 U.S. Perps Get Greenlit

https://www.coindesk.com/policy/2026/05/28/u-s-cftc-opens-crypto-perp-door-with-approval-of-first-regulated-firm

53:41 Coinbase Invests in Ethena

https://www.theblock.co/post/403403/coinbase-invests-ethena-open-market-purchase-ena-flags-new-partnership

57:13 Closing & Disclaimers

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Capitol Hill War Stories from a DC Lobbyist Who’s Seen It All (SBF, Gensler, Elizabeth Warren)

4 juni 2026 · 59 min
Afspelen

Crypto policy in Washington has gone from punchline to power center. David sits down with Ron Hammond, Head of Policy and Advocacy at Wintermute, for a rare inside look at how crypto actually moves through DC: the SBF era, Elizabeth Warren’s anti-crypto army, Gary Gensler’s SEC, bank lobby pressure, Trump’s crypto conflicts, the Clarity Act fight, and why privacy and self-custody may be the next major battleground. Lees meer

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---
TIMESTAMPS

0:00 Becoming “Captain Crypto” in DC
4:03 From Joke to Serious Political Force
6:19 Why Crypto Punches Above Its Weight
10:28 How SBF Captured Washington
13:26 The FTX Fallout in Capitol Hill
16:25 Elizabeth Warren and Crypto’s Proxy Wars
19:04 How DC Letters Actually Get Written
25:33 How Powerful Is the Crypto Lobby?
27:28 Who Is Playing on Crypto’s Side?
31:01 Democrats, Gensler, and the 2024 Lesson
35:07 The Gensler Era and Prometheum
41:21 Will Warren Ever Pivot?
43:20 Trump, the Crypto Ball, and World Liberty
49:30 Will the Clarity Act Pass?
53:30 Privacy, Self-Custody, and the Next Front
56:23 The Social Side of Crypto in DC

---
RESOURCES

Ron Hammond
https://x.com/RonwHammond

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
"ZODL is to Zcash What Coinbase Was to Bitcoin" | Josh Swihart on ZEC’s Awakening

1 juni 2026 · 53 min
Afspelen

What happens when every payment, wallet, and onchain interaction becomes searchable by governments, companies, adversaries, and AI? Josh Swihart, founder and CEO of Zcash Open Development Lab, joins David to explain why Zcash is having a major privacy comeback, how ZODL and the Zashi wallet helped unlock real shielded adoption, why the shielded pool may be the most important ZEC metric, and what it will take for private money to become too big to kill. Lees meer

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---
TIMESTAMPS

0:00 Intro
4:17 Privacy in the AI Era
6:19 Crypto’s Missing Privacy Layer
9:49 The Political Fight for Privacy
14:42 Can Crypto Retain Privacy?
16:47 From Zashi to ZODL
19:48 The Zcash Reawakening
21:41 Balaji, Funding, and the Mission
24:49 Product Market Fit for Shielded ZEC
27:51 ZODL's Role in the Zcash Stack
29:36 The Zcash Roadmap
32:56 What Is ZEC and is it Undervalued?
36:56 The Shielded Pool Explained
45:12 The $25M ZODL Raise
47:16 Compliance and Shielded ZEC
51:25 Institutions vs Cypherpunk Values
53:58 Personal Privacy in an AI World

---
RESOURCES

Josh Swihart
https://x.com/jswihart

ZODL
https://x.com/zodl_app

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: False Strength? | ETH Crisis | Altcoin ATHs | Satoshi’s Coins

29 mei 2026 · 1 uur 4 min
Afspelen

Crypto is splitting in two: Bitcoin and ETH look weak, while HYPE, ZEC, NEAR, and VVV keep breaking out. Ryan and David unpack the strange market divergence, Ethereum’s crisis of faith, and whether this rally is real or false strength. Lees meer

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🌐BRIX | EMERGING MARKET YIELD

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---

TIMESTAMPS & RESOURCES

0:00 Intro

1:48 Markets

https://x.com/TrustlessState/status/2059793993551008245

https://x.com/cburniske/status/2059797889824776463

https://imgur.com/Tp9beNo

https://www.theblock.co/post/402816/bitcoin-falls-below-73000

https://imgur.com/R0ih6kL

https://x.com/solunavaxxer/status/2060021032455741567

https://www.youtube.com/watch?v=l3ptz8qvZcg

https://x.com/readDanwrite/status/2057476278140145717

https://www.artemis.ai/sectors/digital-asset-treasuries

https://x.com/saylor/status/2059970505835155782

https://x.com/Kalshi_Crypto/status/2059983883274191046

https://www.hypestrat.xyz/

https://imgur.com/1MUGQy7

https://polymarket.com/event/what-price-will-bitcoin-hit-before-2027

https://polymarket.com/event/what-price-will-ethereum-hit-before-2027

https://www.coingecko.com/en/coins/hyperliquid

https://www.coingecko.com/en/coins/venice-token

https://www.coingecko.com/en/coins/near

https://www.coingecko.com/en/coins/zcash

https://x.com/JSeyff/status/2059689056368210228

https://farside.co.uk/hyp/

https://x.com/PolymarketTrade/status/2059973516963750204

https://x.com/KobeissiLetter/status/2060004371983667484

https://www.axios.com/2026/05/28/iran-peace-deal-trump-approval

https://imgur.com/m7YNdxu

https://imgur.com/MIdPjqZ
…
NEAR’s AI Money Thesis: Intents, Privacy, and Tokenomics | Sal Ternullo

27 mei 2026 · 49 min
Afspelen

NEAR keeps showing up in strange places: cross-chain wallets, privacy apps, AI infrastructure, and now the emerging agent economy. Sal Ternullo, CEO of SVRN, joins us to explain why he thinks this is not another NEAR pivot, but the original thesis finally coming into focus. They dig into NEAR Intents, AI money, tokenomics, privacy, fee capture, agentic commerce, and why SVRN is trying to commercialize the NEAR ecosystem rather than simply hold the asset. Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

---
TIMESTAMPS

0:00 Intro
2:23 Why NEAR Keeps Showing Up
3:58 Pivot or Return to Roots?
7:41 The “AI Money” Thesis
9:54 Intents, Zashi, and Real Product Market Fit
11:38 Tokenomics, Buybacks, and Value Accrual
14:45 NEAR’s Different Approach From Ethereum
18:00 Fees, Scaling, and First-Party Apps
23:04 Cross-Chain Liquidity as NEAR’s Moat
28:27 The Contrarian Investor Case for NEAR
31:43 Privacy, Enterprises, and AI Agents
39:38 What SVRN Is Building for NEAR
46:00 Investor Sentiment and Final Thoughts

---
RESOURCES

Sal Ternullo
https://x.com/sal_ternullo

SVRN
https://x.com/svrn_ai

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Cloudflare Needs 100M TPS from Crypto to Fix the Internet | CEO Matthew Prince

25 mei 2026 · 1 uur 33 min
Afspelen

The internet is about to be flooded by machines, and Matthew Prince thinks the old business model is not ready. The Cloudflare co-founder and CEO joins Bankless to explain why AI agent traffic could overtake human traffic by 2027, how crawlers are changing the economics of content, why ads and subscriptions may not survive in their current form, and how x402, stablecoins, and pay-per-crawl could create a new payment layer for the web. Lees meer

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

---
TIMESTAMPS

0:00 Intro
1:18 When AI Bot Traffic Overtakes Humans
4:19 What Cloudflare Actually Does
10:40 Life on the Internet’s “Ice Wall”
13:33 The Internet’s Business Model Problem
17:43 Google, Traffic, and the Attention Economy
24:56 AI Agents and the End of Ads
28:47 Why Faster Answers Can Still Hurt Creators
33:26 AI Companies as the Next YouTube or Netflix
38:18 Creating Scarcity for Content Markets
41:52 Content Independence Day
45:24 Should AI Agents Count as Human Users?
51:37 The Risks of Subscription-Only AI
57:24 A Golden Age of Content Creation?
1:01:46 Pay-Per-Crawl and x402
1:04:34 Why Stablecoins Matter
1:07:56 The Cloudflare Stablecoin Question
1:14:18 The Final Form of the Internet
1:17:40 The Park Record and Local Journalism
1:22:16 The Centralization Risk
1:27:12 Advice for Content Creators

---
RESOURCES

Matthew Prince
https://x.com/eastdakota

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: David Sold His ETH | EF Exodus | Hyperliquid’s Breakout | Stagflation Fears

22 mei 2026 · 1 uur 11 min
Afspelen

Crypto’s old leaders are struggling, but new winners are breaking out. Ryan and David unpack the rise of HYPE, Zcash, and Venice, the macro bear fuel markets are ignoring, the EF talent exodus, and why David selling his last ETH may mark a new era for Ethereum and Bankless. Lees meer

---

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---

TIMESTAMPS & RESOURCES

0:00 Intro

3:28 Bear Fuel for Markets & Pockets of Bullishness in Crypto

https://x.com/KobeissiLetter/status/2056184339390419205

https://x.com/Barchart/status/2056350919139500364

https://x.com/JesseCohenInv/status/2056297490366837184

https://imgur.com/YqnyoBc

https://x.com/KobeissiLetter/status/2056556783221502060

https://polymarket.com/event/how-many-fed-rate-cuts-in-2026

https://thedefireport.io/research/signs-of-a-cycle-bottom#macro-update

https://www.cnbc.com/2026/05/21/iran-war-us-peace-talks-trump-hormuz.html

https://polymarket.com/event/us-x-iran-permanent-peace-deal-by

21:27 Hyperliquid, HYPE, and Pre-IPO Price Discovery

https://x.com/Matt_Hougan/status/2056720926234882533

https://polymarket.com/event/openai-ipo-closing-market-cap

https://www.coindesk.com/markets/2026/05/20/elon-musk-s-spacex-holds-18-712-bitcoin-at-fair-value-of-usd1-29-billion-ipo-filing-shows

https://www.reuters.com/legal/government/sec-readies-plan-trading-crypto-versions-stocks-bloomberg-news-reports-2026-05-18/

https://www.coindesk.com/markets/2026/05/21/binance-launches-spacex-pre-ipo-perps

32:43 Wintermute Opens DeFi Vaults on Morpho

https://www.wintermute.com/insights/news/wintermute-launches-armitage-bri…
Bitcoin’s $300T Credit Market Opportunity | Jeff Walton

21 mei 2026 · 1 uur 18 min
Afspelen

Bitcoin may be outgrowing the “digital gold” narrative. David sits down with Strive Chief Risk Officer Jeff Walton to unpack how Bitcoin-backed credit products like SATA and Strategy’s STRETCH could turn BTC into digital capital, why Jeff says the “Ponzi” framing misunderstands the balance sheet, how 13% yield and daily dividends could disrupt credit markets, and why this new financial layer may expand Bitcoin’s TAM far beyond gold. Lees meer

---

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🌐BRIX | EMERGING MARKET YIELD

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💰NEXO | Get your 30-day access to Wealth Club Premier

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---

TIMESTAMPS

0:00 Intro

1:59 Stretch, Risk, and Balance Sheets

5:28 Dividend Backstop Debate

8:53 Measuring Bitcoin Downside

15:25 Success as Long-Tail Risk

19:17 Common Equity as Revenue

25:57 Digital Credit’s Massive Market

29:37 Credit, Liquidity, and Yield

33:02 Banks, Trust, and Inflation

36:08 Trust Networks Rebuilt

40:26 Digital Labor and Yield

44:38 Bitcoin’s Growing Capital Base

48:36 S-Curve and Market Size

52:36 Building on Bitcoin Instruments

55:58 Transforming the Asset

59:12 Co-opetition in Bitcoin Credit

1:03:23 Low Vol for Long Holders

1:09:13 Strive Versus Strategy

1:12:38 Scaling Faster Than Strategy

1:14:38 Jeff’s Bitcoin Origin Story

1:17:30 Closing & Disclaimers

---

RESOURCES

Jeff Walton

https://x.com/PunterJeff

True North Show

https://www.youtube.com/@BTCTrueNorth

Jeff’s Coffeezilla Interview

https://youtu.be/pvZnpppwkoM?si=lXcF6r02yzmYE9jt

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
"Crypto Without Privacy Isn't Crypto" - The Zcash Bull Case | Tushar Jain & Mert Mumtaz

19 mei 2026 · 1 uur 1 min
Afspelen

Zcash is having its first real narrative moment in years. David sits down with Multicoin Capital co-founder Tushar Jain and Mert Mumtaz to unpack why privacy may be crypto’s missing store-of-value primitive, why Zcash is being framed as “private Bitcoin,” how institutional adoption could normalize shielded money, what AI and onchain surveillance change about the privacy debate, and why quantum risk could become a real catalyst. Lees meer

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TIMESTAMPS

0:00 Why Multicoin Got Interested in Zcash
5:22 Mert’s Path from Solana to Zcash
9:57 Why Zcash, Why Now?
17:01 The Institutional Path for Private Money
22:03 Zcash as a Private Store of Value
25:27 Fungibility, Tainted Coins, and Financial History
27:26 The Bear Case: Does Anyone Really Care About Privacy?
34:43 Onchain Surveillance and Government Power
39:13 Zcash Tokenomics and the Forgotten Coin Thesis
44:58 The Last PVE in Crypto
50:17 Zcash and the Quantum Threat
59:14 Shielded Pool Growth and Upcoming Catalysts

---
RESOURCES

Tushar Jain
https://x.com/tushar_jain

Mert Mumtaz
https://x.com/mert

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Clarity Act Odds Jump to 75% After Surprise Senate Vote | Alex Thorn

18 mei 2026 · 50 min
Afspelen

Two surprise Democrat votes just rerated the entire crypto policy timeline. Lees meer

After the Senate Banking Committee advanced the Clarity Act on a bipartisan basis, Galaxy Digital head of research Alex Thorn moved his odds of the bill being signed this year from a coin flip to 75%.

He and David map the seven-week sprint to the president's desk, the ethics-provision standoff that could still sink everything, the bank lobby's quiet obstruction game, and why the stablecoin yield compromise leaves the real fight for rulemaking.

------

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🌐BRIX | EMERGING MARKET YIELD

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------

TIMESTAMPS

0:00 Intro

0:39 Clarity Act Vote Reactions

5:16 What’s Next?

10:05 Trump Veto?

15:21 Stablecoin Rewards Compromise

28:14 Administration Precedence

31:02 Why is Clarity So Important?

41:01 Which Ecosystems Benefit the Most?

42:59 Clarity Act Passing Over-Under

48:17 Bitcoin Price After CLARITY

49:39 Closing & Disclaimers

------
RESOURCES

Alex Thorn

https://x.com/intangiblecoins

Galaxy Digital

https://www.galaxy.com/

Senate Banking Committee Advances Crypto CLARITY Act

https://www.bankless.com/read/news/senate-banking-committee-advances-crypto-clarity-act

------

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
ROLLUP: Is the Bull Back? | The Clarity Act | Wall Street on Ethereum | Anthropic Nukes Perps

15 mei 2026 · 1 uur 5 min
Afspelen

Markets are ignoring every warning sign as stocks hit new highs, but crypto may finally have its catalyst. Ryan and David break down the CLARITY Act’s key vote, Wall Street’s Ethereum push, Bitcoin’s $80K test, and why private AI stocks are creating chaos onchain. Lees meer

---

📣GALAXY | INSTITUTIONAL DIGITAL FINANCE

https://bankless.cc/Galaxy

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---

TIMESTAMPS & RESOURCES

0:00 Intro

2:46 Trump/Xi Meeting, Nvidia China Deal, and AI Stocks

https://x.com/WhiteHouse/status/2054607212513730674

https://www.reuters.com/business/retail-consumer/us-clears-h200-chip-sales-10-china-firms-nvidia-ceo-looks-breakthrough-2026-05-14/

https://imgur.com/wLddwGM

https://x.com/BullTheoryio/status/2054558694785077478

https://x.com/KobeissiLetter/status/2054177816573329496

https://fred.stlouisfed.org/graph/

https://x.com/coindesk/status/2054542868522365141

https://x.com/TedPillows/status/2054545275281182861

https://x.com/KobeissiLetter/status/2054940927379014035

https://x.com/KobeissiLetter/status/2054655260652716149

https://www.coingecko.com/en/coins/ethereum

28:06 Circle Earnings, Arc, and USDC Growth

https://x.com/circle/status/2053785252037022157

https://x.com/marcarjoon/status/2054539947466522815

https://www.cnbc.com/2026/05/11/circle-closes-222-million-from-blackrock-apollo-for-arc-blockchain.html

https://x.com/coingecko/status/2054042800203719158

32:54 Coinbase, USDC, and Hyperliquid Team Up + Anthropic and OpenAI Crack Down on Unauthorized Private Stock Sales

https://x.com/wallstengine/status/20549287829188…
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

14 mei 2026 · 44 min
Afspelen

Anthropic's secondary market is tens of billions of dollars deep, stacked with SPVs on top of SPVs charging 10% fees plus carry, and almost entirely opaque. Lees meer

Dio Casares of Patagon breaks down how it actually works: which deals Anthropic blesses and which get cease-and-desists, why fake share certificates show up in 10-20% of executed deals, what tokenized equities and pre-IPO perps actually represent, and the mess of lawsuits and stuck shares coming when Anthropic finally IPOs.

------

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💰NEXO | Get your 30-day access to Wealth Club Premier

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------

TIMESTAMPS

0:00 Intro

0:40 What is Going on in Secondary Markets?

7:03 How Anthropic Secondary Markets Unfold

14:51 Anthropic’s Secondaries Social Elite

19:00 Emerging SPV Structure

21:51 Accidental Frauds?

27:04 After IPO Consequences

35:13 Private Market Lessons

38:21 Patagon Markets

43:54 Tokenized Perps

44:57 Closing Thoughts

------
RESOURCES

Diogenes Cesares

https://x.com/diogenes

Patagon Markets

https://patagonmarkets.com/

------

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
Will AI Populism Decide the 2028 Election? | Jasmine Sun

13 mei 2026 · 1 uur 21 min
Afspelen

AI is no longer just a technology story. It is becoming a political fault line. Jasmine Sun joins Bankless to unpack the rise of AI populism, why backlash against data centers and AI labs is spreading across strange political coalitions, and whether jobs, inequality, and SuperPAC money could turn AI into a defining 2028 election issue. Lees meer

---
🎬 DEBRIEF | RYAN & DAVID BREAKDOWN THE EPSIODE
https://www.bankless.com/podcast/debrief-will-ai-populism-decide-the-2028-election

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---
TIMESTAMPS

0:00 What Is AI Populism?
2:56 Why AI Could Matter in 2028
11:13 Data Centers, Distrust, and Warning Shots
25:27 The Jobpacalypse Debate
43:25 Game Over for Labor?
51:52 The New AI Political Map
1:04:50 Power Inequality, Policy, and the Grand Bargain
1:18:37 How to Stay Useful in the AI Era

---
RESOURCES

Jasmine Sun
https://x.com/jasminewsun

Jasmine’s Substack
https://substack.com/@jasmine

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
How Long Will the AI Boom Continue? The #1 Question for Crypto Investors | Michael Nadeau

12 mei 2026 · 1 uur 6 min
Afspelen

AI stocks are ripping, crypto is following, and the question is whether this is the next leg higher or the final frothy phase before a reset. Ryan and Michael Nadeau break down why Bitcoin is so tied to the NASDAQ right now, how today’s AI boom compares to 1999, and what investors should watch if the bubble keeps inflating or finally starts to burst. Lees meer

Michael Nadeau & The DeFi Report:

https://x.com/JustDeauIt

https://bankless.cc/BTDR-RSS

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TIMESTAMPS & RESOURCES

0:00 Intro

1:48 The Bubble Debate

3:16 Defining the Bubble

4:33 Historical Perspectives on Bubbles

7:20 AI's Growth and Market Narratives

8:46 Technology Hype Cycles

11:21 Current Market Analysis

12:08 Understanding the Shiller PE Ratio

15:09 Revenue Growth Forecasts

18:19 Theories Behind Current Market Conditions

20:44 Analyzing Profit Margins

23:53 Price vs. Fundamentals

27:26 The Role of Market Sentiment

31:30 Historical Market Patterns

32:32 Lessons from the Dot-Com Era

35:17 Market Concentration and AI

39:38 The Future of AI Investments

41:45 Capital Flows in Tech

49:31 Geopolitical Implications and Market Behavior

53:25 Investor Positioning Strategies

1:04:30 Closing & Disclaimers

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

11 mei 2026 · 1 uur 31 min
Afspelen

North Korea isn’t just hacking crypto anymore, it’s studying it, infiltrating it, and turning DeFi’s weakest links into a state-run revenue machine. This time around, Ryan and David sit down with Ari Redbord of TRM Labs to unpack the Drift hack, the $6B DPRK crypto crime machine, how stolen funds move through THORChain, Bitcoin, OTC desks, and Chinese laundering networks, and why the fightback may require everything from better DeFi security to real-time Beacon alerts and offensive cyber. Lees meer

---
🎬 DEBRIEF | RYAN & DAVID BREAKDOWN THE EPISODE
https://www.bankless.com/podcast/debrief-why-north-korea-is-winning-crypto-crime-and-how-to-fight-back-ari-redbord-trm-labs

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TIMESTAMPS

0:00 Intro
2:16 The Drift Hack
5:15 Human Weak Points
11:16 The DPRK Hacker Network
14:56 The $6B Machine
20:32 Fighting Back
28:11 Seizures and Victims
38:58 Inside TRM Labs
47:01 Laundering Rails
52:51 The Beacon Network
58:06 Privacy vs Security
1:10:20 Code and Crime
1:14:49 Iran on Tron
1:22:55 Bitcoin and Power
1:28:49 Hardening DeFi

---
RESOURCES

Ari Redbord
https://x.com/ARedbord

TRM Labs
https://www.trmlabs.com/

TRM’s DPRK Report
https://www.trmlabs.com/resources/blog/north-korea-stole-76-of-all-crypto-hack-value-in-2026-with-just-two-attacks

Ari’s Homeland Security Testimony
https://www.congress.gov/119/meeting/house/119126/witnesses/HHRG-119-HM11-Wstate-RedbordA-20260421.pdf

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: Crypto’s Nasdaq Problem | The CLARITY Act | Saylor Selling? | ETH L1 Scaling

8 mei 2026 · 1 uur
Afspelen

Stocks and AI are ripping to new highs, and crypto is getting pulled along for the ride. Ryan and David break down whether this rally is real or too frothy, what the CLARITY Act still needs to survive, why Coinbase layoffs are colliding with billion-dollar crypto raises, and what Saylor selling Bitcoin would actually mean. Lees meer

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---

TIMESTAMPS & RESOURCES

0:00 Intro

1:29 Markets

https://www.coingecko.com/

https://imgur.com/a/xfVRCtd

https://thedefireport.io/research/btc-is-nearing-an-inflection-point#btc-vs-nasdaq-correlation

https://www.google.com/finance/beta/quote/.INX:INDEXSP

https://www.reuters.com/business/stunning-us-profit-strength-ignites-stocks-charge-record-peaks-2026-05-06/

https://x.com/claudeai/status/2052060691893227611

https://x.com/Cointelegraph/status/2052247071491604672

https://x.com/KobeissiLetter/status/2052042082185809991

https://app.hyperliquid.xyz/trade/vntl:ANTHROPIC

https://x.com/jasongoepfert/status/2052110616622485834

https://x.com/RyanSAdams/status/2049971216413343991

https://x.com/KobeissiLetter/status/2050566239961956630

https://x.com/WhitePine009/status/2050578574348845271

https://x.com/Sam_Badawi/status/2050710130766074085/video/2

https://polymarket.com/event/us-x-iran-permanent-peace-deal-by/?via=bankless?

https://x.com/RealStockCats/status/2052042448944124110

23:06 CLARITY Act Clears a Hurdle

https://x.com/SenThomTillis/status/2051464145384489270

https://x.com/faryarshir…
“Finding Satoshi”—How a Private Investigator Solved the Mystery of Bitcoin’s Creator | Bill Cohan & Tyler Maroney

4 mei 2026 · 1 uur 16 min
Afspelen

Spoiler alert: This episode contains spoilers for the documentary Finding Satoshi. Lees meer

Bill Cohan and Tyler Maroney unpack their new documentary Finding Satoshi, a four-year investigation into the identity of Satoshi Nakamoto.

They explore why Satoshi’s identity still matters, the cypherpunk roots of Bitcoin, the public interest behind the mystery, and what the search reveals about privacy, money, power, and the mythology at the heart of crypto.

------

🔎 FINDING SATOSHI | USE CODE: BANKLESS (20% OFF)

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🎬 DEBRIEF | RYAN & DAVID BREAKDOWN THE EPSIODE

https://www.bankless.com/podcast/debrief-finding-satoshi-how-a-private-investigator-solved-the-mystery-of-bitcoins-creator

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🧭OKX | TRADE, EARN, PAY

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🦊 METAMASK | DOWNLOAD NOW

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🌐BRIX | EMERGING MARKET YIELD

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------

TIMESTAMPS

0:00 Intro

1:17 Did We Find Him?

6:32 Why Find Satoshi?

11:54 Why OGs Didn’t Care

14:57 How Hard was the Investigation?

18:20 Talking to the Early Cypherpunks

19:58 Public Interest

26:08 Cypherpunk’s Ideology

39:07 Spoiler Alert: The Aha Moment

51:30 Satoshi’s Death

1:00:59 Bitcoin as a Public Good

1:05:23 Will Satoshi Come Back?

1:10:39 Was it All Planned?

1:11:52 Quantum Treasure Hunt

1:14:00 What would Satoshi think of Bitcoin Today?

1:17:09 Closing & Disclaimers

------
RESOURCES

William D. Cohan

https://x.com/WilliamCohan

Tyler Maroney

https://x.com/tydamar

------

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
ROLLUP: $120 Oil vs New Highs | AI Boom Masks War | IPO Top Signal | DeFi Bailout

1 mei 2026 · 1 uur
Afspelen

Markets are ripping despite $120 oil and an escalating war. Ryan and David break down why the AI boom is drowning out macro risks, whether a wave of trillion-dollar IPOs could mark the top, and how DeFi just bailed itself out after its biggest hack ever. Lees meer

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🧭OKX | TRADE, EARN, PAY

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💰NEXO | Get your 30-day access to Wealth Club Premier

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---

TIMESTAMPS & RESOURCES

0:00 Intro

2:28 Oil War & $120 Oil Crisis

https://x.com/pete_rizzo_/status/2049589290326212768

https://x.com/KobeissiLetter/status/2049713857728524691

https://x.com/KobeissiLetter/status/2049534394302394603

https://x.com/Rory_Johnston/status/2049834460233756744

https://x.com/KobeissiLetter/status/2048593172423495858

https://x.com/charliebilello/status/2049613424749838445

https://x.com/KobeissiLetter/status/2048461842540834913

https://x.com/biancoresearch/status/2049598646648181221

https://tether.io/news/tether-supports-freeze-of-more-than-344-million-in-usdt-in-coordination-with-ofac-and-u-s-law-enforcement/

https://x.com/AggrNews/status/2047711619304587602

https://x.com/SecScottBessent/status/2049281442451001711

16:46 Markets Rally vs Reality (AI Boom) or AI Bubble & IPO Top Signal

https://x.com/KobeissiLetter/status/2049165243100827821

https://x.com/KobeissiLetter/status/2049149137292001672

https://x.com/NoLimitGains/status/2049213286311436597

https://x.com/shiri_shh/status/2049040515107270751

https://x.com/Shaughnessy119/status/2049228075766788402

https://x.com/IvayloPashov/status/2049475041113378909

https://x.com/realarmaansidhu/status/20470805…
MegaETH Token Launch with Co-Founders Shuyao and Lei

30 april 2026 · 56 min
Afspelen

$MEGA token is live, but the bigger story is what the launch says about the future of L2s. Co-Founders Shuyao and Lei join Bankless to unpack why MegaETH tied its TGE to app milestones, why USDM and proximity markets could become core revenue streams, and how the team is thinking about appchains, AI agents, security, and Stage 2 decentralization. Lees meer

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🌐BRIX | EMERGING MARKET YIELD
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💰NEXO | YIELD + CREDIT LINE
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---
TIMESTAMPS

0:00 MegaETH Reaches TGE: KPIs and Milestones
3:10 The 10 Apps That Unlocked Launch
8:12 Composability for New Crypto Apps
11:22 World Markets as MegaETH’s Liquidity Hub
14:13 USDM and the First Revenue Stream
15:59 Co-Location, Low Latency, and Proximity Markets
19:40 Proximity Markets vs. MEV
22:13 Revenue and Token Value Accrual
25:15 Ethereum Decentralization as a KPI
27:40 Token Unlocks and Launch Supply
30:31 Terminal, Incentives, and Flux
32:28 MegaETH vs. Appchains
38:31 Could MegaETH Support Polymarket Scale?
41:12 AI Agents on a Fast, Cheap Chain
47:23 KelpDAO, Arbitrum, and L2 Decentralization
55:38 Life After TGE

---
RESOURCES

Shuyao Kong
https://x.com/hotpot_dao

Lai Yang
https://x.com/yangl1996

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
$200 Oil by June?—The Biggest Oil Shock in History | Rory Johnston on The Hormuz Crisis

29 april 2026 · 1 uur 37 min
Afspelen

Rory Johnston, the “oil quant,” joins us to explain why the Hormuz crisis could become the biggest oil shock in history. Lees meer

Oil markets are already screaming. Supply is trapped, inventories are being drained, and the market may still be underpricing the scale of the disruption.

If the Strait stays closed, Rory says the path to $200 oil is no longer crazy. It may be the next stop.

This is oil, geopolitics, inflation, and markets all colliding at once.

------

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🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

💰NEXO | YIELD + CREDIT LINE

https://bankless.cc/nexo

🧭OKX | TRADE, EARN, PAY

https://app.okx.com/join/USBANKLESS

------

TIMESTAMPS

0:00 Intro

1:17 What is a Barrel of Oil?

7:04 How is Oil Transported?

8:24 Is Oil Fungible?

13:25 Oil Then Vs Now

17:10 Peak Oil?

24:59 Hydrocarbon World Distribution

29:32 What is Spare Capacity?

32:14 Inventories in the Buffer System

35:04 Oil Futures

38:59 Oil Curve

44:51 Economic Implications of Oil Markets

48:48 Straight of Hormuz

55:30 Future Oil Price Action

1:03:53 Steelmanning the Market Reaction

1:13:23 When will the Straight Open?

1:21:57 Is the USA Winning?

1:27:49 Pressuring Iran

1:31:48 Signals to Watch

1:33:36 Fast Forward to 2050

1:38:38 Closing & Disclaimers

------
RESOURCES

Rory Johnston

https://x.com/Rory_Johnston

Commodity Context

https://www.commoditycontext.com/

------

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
Has Bitcoin Bottomed? Jordi Visser on AI, Inflation, and Moats

27 april 2026 · 1 uur 30 min
Afspelen

Has Bitcoin already bottomed, or are investors still looking at the wrong signals? Jordi Visser joins Bankless to argue that AI is destroying software moats, reshaping inflation, and pushing capital toward scarce assets, with Bitcoin at the center of that shift. We get into his “AI is the new QE” thesis, the scarcity-versus-abundance portfolio, why the S&P may struggle in an AI regime, what a more muted Bitcoin cycle looks like, and where he still sees upside across the rest of crypto. Lees meer

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🌐BRIX | EMERGING MARKET YIELD
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💰NEXO | YIELD + CREDIT LINE
https://bankless.cc/nexo

🧭OKX | TRADE, EARN, PAY
https://app.okx.com/join/USBANKLESS

---
TIMESTAMPS

0:00 Intro
2:07 Jordi’s bold Bitcoin call
4:18 The AI endgame lands at Bitcoin
9:26 Bitcoin as the purest AI trade
12:49 SaaSpocalypse, quantum fear, and the private credit risk
20:49 AI is the new QE
26:55 Inflation, deflation, and the scarcity squeeze
34:28 What happens to stocks from here
44:24 Is AI a bubble?
48:17 The Bitcoin IPO and muted cycles
1:01:01 Has Bitcoin already bottomed?
1:09:03 The broken social pact
1:13:21 The rest of crypto, from ETH to stablecoins
1:17:29 Inside the scarcity portfolio
1:20:42 Jensen vs. Dwarkesh, China, and the chip war
1:27:42 Jordi’s AI stack and where to follow his work

---
RESOURCES

Jordi Visser
https://x.com/jvisserlabs

Jordi’s Substack
https://substack.com/@visserlabs

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: $300M DeFi Hack Fallout | Arbitrum Freezes Funds | AI Deflation Debate | Productive ETH

24 april 2026 · 1 uur 8 min
Afspelen

Markets are hitting new highs, but crypto just took a major hit. Ryan and David break down the $300M KelpDAO exploit and why it exposed deeper flaws across DeFi and Layer 2s, including Arbitrum’s controversial decision to freeze funds. They also explore whether AI will drive deflation or inequality, unpack a new bullish ETH thesis, and debate why the biggest risks in crypto may be building beneath the surface. Lees meer

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🧭OKX | TRADE, EARN, PAY

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💰NEXO | YIELD + CREDIT LINE

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

---

TIMESTAMPS & RESOURCES

0:00 Intro

1:57 Markets Still Bullish?

https://x.com/EricBalchunas/status/2047282771664453641

https://thewolfden.substack.com/p/strategy-owns-more-btc-than-blackrock

https://x.com/SecScottBessent/status/2046703137541837285

https://polymarket.com/event/us-x-iran-permanent-peace-deal-by/?via=bankless?

https://x.com/danielisdizzy/status/2047037188500554010

https://x.com/MikeZaccardi/status/2045855067710914995

https://polymarket.com/event/kevin-warsh-confirmed-as-fed-chair-by-may-15/?via=bankless?

https://polymarket.com/event/fed-rate-cut-by-629/?via=bankless?

https://x.com/ylecun/status/2045610129119117574

https://x.com/pdmsero/status/2046943519101661561

https://x.com/KobeissiLetter/status/2045675498529808886

https://x.com/KobeissiLetter/status/2046071375446606125

27:32 KelpDAO $300M Exploit & DeFi Fallout

https://www.galaxy.com/insights/research/kelpdao-layerzero-exploit-defi

https://defillama.com/protocol/aave-v3

https://x.com/LayerZero_Core/status/2046081551574983137

https://x.com/0xdoug/status/2045988844718453186

https://x…
The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

23 april 2026 · 1 uur 14 min
Afspelen

A $280M DeFi exploit exposed the hidden fragility of crypto’s most trusted systems. Lees meer

Dan Elitzer and Odysseus break down how the attack happened, why bridge risk and protocol composability made the damage so severe, what Arbitrum’s intervention means for immutability, and why DeFi now needs an aerospace-grade security mindset to survive the AI era.

------

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🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

🧭OKX | TRADE, EARN, PAY

https://bankless.cc/OKX

💰NEXO | YIELD + CREDIT LINE

https://bankless.cc/nexo

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

------

TIMESTAMPS

0:00 Intro

0:57 Worst DeFi Hack Ever?

7:01 What Happened?

10:11 How Sophisticated?

11:42 Explaining the Hack to TradFi

16:51 Who’s to Blame?

22:13 L2 Architecture Consequences

28:17 How Does it Get Resolved?

31:46 Circuit Breakers & Rate Limiters

34:05 AAVE V4

34:51 Arbitrum Intervention Implications

42:02 Code is Law vs Human Governance

51:59 Stage 1 vs Stage 2 Rollups

55:29 Post-Hack DeFi

1:03:05 Aerospace Level Security

1:09:49 Will DeFi Survive?

1:14:33 Closing & Disclaimers

------
RESOURCES

Dan Elitezer

https://x.com/delitzer

Odysseus

https://x.com/odysseas_eth

Odysseus Article

https://x.com/odysseas_eth/status/2019833220431507504

Phylax Systems

https://phylax.systems/

------

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
Productive Money: The Most Bullish Case for Ethereum ($250K) | Michael McGuiness & Vivek Raman

21 april 2026 · 1 uur 24 min
Afspelen

Ethereum may be one of the most underappreciated assets. Lees meer

In this conversation, Michael McGuiness and Vivek Raman lay out the case for ETH as “productive money”, a monetary asset with the store-of-value properties of gold and Bitcoin, plus the ability to compound through network activity.

We unpack the $250K ETH thesis, why traditional DCF models miss the bigger picture, and why Ethereum’s role as the settlement layer for a tokenized economy could unlock massive monetary premium.

------

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🪐GALAXYONE | SOLANA STAKING

https://bankless.cc/GalaxyOne

🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

💰NEXO | YIELD + CREDIT LINE

https://bankless.cc/nexo

🧭OKX | TRADE, EARN, PAY

https://bankless.cc/OKX

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

------

TIMESTAMPS

0:00 Intro

4:45 $250K ETH?

6:04 How to Price ETH

8:15 ETH’s Monetary Premium

10:25 What Differentiates ETH

13:54 The Path to $250K ETH

16:35 Menger’s Monetary Attributes

20:28 Scarcity

24:58 Fungibility

26:43 Divisibility

27:45 Portability

28:28 Durability

34:30 Verifiability

35:27 Censorship Resistance

37:00 ETH is Productive Money

41:39 How is ETH Productive?

46:40 Ethereum’s Tollbooth

51:28 Counterparty Risk

53:48 Productive Money vs Dead Capital

58:03 Pitching Productive Money to Wall Street

1:00:08 Why is ETH Underappreciated?

1:04:19 Wall Street ETH Investors

1:11:28 Other L1s

1:14:06 Why Not Just Buy the S&P?

1:15:00 Ethereum Technical Risks

1:17:20 How Does ETH Get to $250K?

1:23:18 Closing & Disclaimers

------
RESOURCES

ETH is Productive Money

https://www.productivemoney.org/

Michael McGuiness

https://x.com/mikemcg0

Vivek Raman

https://x.com/VivekVentures

Etherealize

https://www.etherealize.com/

------

Not financial or tax advice. See our investment disclosures her…
Can AI Agents Build Real Businesses? | Kelly Claude creator Austen Allred

20 april 2026 · 1 uur 15 min
Afspelen

Austen Allred joins Bankless to unpack Kelly Claude, the AI agent he has given an LLC, bank accounts, a token, and even a human employee. They explore how Kelly finds software opportunities, ships apps to the App Store, learns through orchestration and factory-style workflows, and why crypto rails may be the missing layer for agent-to-agent commerce. Lees meer

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💰NEXO | YIELD + CREDIT LINE
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🧭OKX | TRADE, EARN, PAY
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🌐BRIX | EMERGING MARKET YIELD
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---
TIMESTAMPS
0:00 Intro
1:05 Meet Kelly
4:46 Why Kelly needed an LLC, bank account, and token
10:27 The real goal is a zero-human company
15:46 The apps Kelly is already shipping
18:33 Can taste be replicated?
21:53 Why AI defaults to consensus
30:04 What orchestration and factories actually mean
34:21 How autonomous is autonomous?
38:20 The marketing factory and why AI ads must look worse
46:47 Why Ryan and David’s agent Daniel keeps failing
54:43 Can there be a generic template for AI companies?
59:14 If everyone can build over a weekend, what are the moats?
1:06:08 Why crypto finally clicks for AI agents
1:12:32 The missing crypto product is distribution
1:14:57 Advice for builders experimenting with agents

---
RESOURCES

Austen Allred
https://x.com/Austen

Kelly Claude
https://x.com/kellyclaudeai

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
ROLLUP: Markets at ATHs | Saylor’s STRC Bid | Trump DeFi Scandal | SEC Clears DeFi

17 april 2026 · 1 uur 4 min
Afspelen

Markets are ripping back to all-time highs, but crypto still isn’t following suit. Lees meer

Ryan and David break down the V-shaped recovery driven by Iran de-escalation, why Bitcoin is still stuck in range, and the growing bull vs bear divide across macro and onchain data. They also unpack Saylor’s STRC “money printer,” the World Liberty DeFi controversy, and the SEC’s surprise ruling that just gave DeFi a major win.

Plus: the Bitcoin community’s plan to freeze Satoshi’s coins and what it means for the future of the network.

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS & RESOURCES

0:00 Intro

2:04 Markets at ATHs / Iran De-Escalation

https://x.com/KobeissiLetter/status/2044507788961894462

https://x.com/TheStalwart/status/2044045804596346931

https://x.com/KobeissiLetter/status/2041728989119529307

https://x.com/KobeissiLetter/status/2043285255931441306

https://x.com/KobeissiLetter/status/2043323635671179641

https://x.com/AndrewBeckUSA/status/2043136650478301245

https://x.com/zerohedge/status/2044426813544255859

https://x.com/KobeissiLetter/status/2044055049882476961

https://x.com/KobeissiLetter/status/2044435422944649651

https://polymarket.com/event/us-x-iran-permanent-peace-deal-by/?via=bankless?

https://x.com/RaoulGMI/status/2043832901121331527

https://x.com/Matt_Hougan/status/2044095946334843168

https://x.com/JustDeauIt/status/2044127128296313079

https://x.com/benjamincowen/status/2044114246187851783

https://x.com/JoshKale/status/2044425507203166292

https://x.com/RyanSAdams/status/2044423401763127512

https://x.com/LizAnnSonders/status/2…
Why Hasn't The Dollar Fallen? | Lessons from Currency Historian Barry Eichengreen

16 april 2026 · 1 uur 17 min
Afspelen

Why has the dollar remained dominant despite rising debt, geopolitical strain, and growing challengers? Lees meer

Barry Eichengreen joins Bankless to trace the history of global reserve currencies. From Spanish silver and the Byzantine solidus to sterling and the modern dollar, Barry explains the conditions that make a currency rise, endure, and eventually fall.

We explore fiscal discipline, rule of law, military power, gold, China, and crypto to understand what history suggests about the dollar’s future.

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🦊 METAMASK | DOWNLOAD NOW

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🏅BITGET TRADFI | TRADE GOLD WITH USDT

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🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

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TIMESTAMPS

0:00 Intro

5:11 Spanish Pieces of ape

14:58 Solidus

18:56 International Currency Status

29:32 The Fall of International Currencies

33:27 The Fall of The US Dollar

41:38 What’s Special about the Dollar?

47:39 Theoretical Currencies

51:09 US Dollar Dominance Consequences

59:39 When will the Dollar Fall?

1:03:09 US Dollar Competitors

1:08:32 Gold

1:14:08 Bitcoin & Crypto

1:18:23 Closing & Disclaimers

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RESOURCES

Barry Eichengreen

https://x.com/B_Eichengreen

Money Beyond Borders: Global Currencies from Croesus to Crypto

https://www.amazon.com/Money-Beyond-Borders-Currencies-Croesus/dp/0691280533

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠
Up or Down from Here? Bears vs. Bulls

14 april 2026 · 1 uur 1 min
Afspelen

Has crypto already bottomed, or is more pain still ahead? Mike and Ryan break down the bull and bear case in full, from Bitcoin fair value and market structure to global liquidity, AI demand, and the macro risks still hanging over markets. Mike explains why he thinks the setup still looks more like a bear market than a new uptrend, even if the odds are close. It’s a sharp episode on how to navigate a market that could break either way. Lees meer

Michael Nadeau & The DeFi Report:

https://x.com/JustDeauIt
https://thedefireport.io/bankless

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🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🏅BITGET TRADFI | TRADE GOLD WITH USDT

https://bankless.cc/bitget

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

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TIMESTAMPS

0:00 Intro

1:18 Understanding the crypto cycle

3:23 The wealth destruction phase

5:30 Defining the current market conditions

8:14 Reflecting on past market battles

11:15 The four-year cycle explained

13:19 The impact of liquidity cycles

17:12 Analyzing the S&P and market health

20:34 The bullish case for crypto

24:07 Exploring on-chain metrics

27:16 The bear case outlined

32:14 The difficulty of market navigation

44:26 Summarizing the bearish perspective

48:12 Market uncertainty

59:54 Closing & disclaimers

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures
"Fix the Money, Fix the World" — Michael Saylor's Master Plan (plus questions on Quantum and Ethereum)

13 april 2026 · 1 uur 38 min
Afspelen

Michael Saylor thinks Bitcoin is headed to $21 million, but the real story in this conversation is how he believes it gets there. In his first appearance on Bankless, Saylor breaks down Strategy’s evolving capital machine, why STRC may be the most ambitious instrument the company has built yet, how he thinks about quantum risk without panic, why his view on Ethereum has become more constructive, and what he means when he says the endgame is giving the world an 8% bank account forever. Lees meer

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🦊 METAMASK | DOWNLOAD NOW
https://go.metamask.io/BL-Pod-Download

🏅BITGET TRADFI | TRADE GOLD WITH USDT
https://bankless.cc/bitget

🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

🐇MEGAETH | 1ST REAL-TIME BLOCKCHAIN
https://bankless.cc/megaeth

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TIMESTAMPS

0:00 Intro
1:00 Michael Saylor’s $21M Bitcoin thesis
4:33 What has to go right for Bitcoin to get there
11:00 Has Bitcoin adoption stalled out?
13:20 Why STRC became Strategy’s breakout product
18:05 The pitch behind a Bitcoin-backed money market
21:13 How STRC is engineered to stay stable
27:31 Where the 11.5% yield comes from
36:35 Is Strategy taking too much risk?
46:50 Does Strategy ever stop buying Bitcoin?
58:48 Quantum, panic, and the Bitcoin response
1:16:18 Michael Saylor on Ethereum today
1:25:46 “Fix the money, fix the world”
1:38:39 The crypto reactor and Strategy’s endgame

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RESOURCES

Michael Saylor
https://x.com/saylor

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures

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Clarity Act Odds Jump to 75% After Surprise Senate Vote | Alex Thorn

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How Long Will the AI Boom Continue? The #1 Question for Crypto Investors | Michael Nadeau

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“Finding Satoshi”—How a Private Investigator Solved the Mystery of Bitcoin’s Creator | Bill Cohan & Tyler Maroney

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MegaETH Token Launch with Co-Founders Shuyao and Lei

$200 Oil by June?—The Biggest Oil Shock in History | Rory Johnston on The Hormuz Crisis

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The $280M DeFi Exploit That Changes Crypto Forever | Dan Elitzer & Odysseus

Productive Money: The Most Bullish Case for Ethereum ($250K) | Michael McGuiness & Vivek Raman

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Why Hasn't The Dollar Fallen? | Lessons from Currency Historian Barry Eichengreen

Up or Down from Here? Bears vs. Bulls

"Fix the Money, Fix the World" — Michael Saylor's Master Plan (plus questions on Quantum and Ethereum)