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The Ultimate Guide to Crypto Finance. DeFi, NFTs, and cryptocurrencies. Level up. Go bankless.

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  • August 11 · 51 min

    NEAR’s New Token Utility and AI Economy | Illia Polosukhin

    What if staking a token could keep an AI agent thinking? NEAR cofounder Illia Polosukhin joins David to explain NEAR’s new staking-powered inference model, where yield funds access to confidential and verifiable AI. They unpack how NEAR AI Cloud, IronClaw, Intents, and the NEAR token fit into one integrated economy for autonomous agents, why AI outputs may need cryptographic proof when money is at stake, and how GPU compute could become a liquid global market. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Private, Verifiable AI 4:57 Why AI Outputs Need Proof 9:13 From Staking Yield to Inference 16:16 NEAR’s Integrated AI Stack 20:01 NEAR as AI Money 24:27 Autonomous Businesses 28:51 Partners and Real-World Uses 33:26 What NEAR Ships Next 38:01 Where AI Value Accrues 40:56 The AI Operating System 48:07 Turning Compute Into a Market 51:48 Closing Thoughts --- RESOURCES Illia Polosukhin https://x.com/j0hnwang Near revenue https://revenue.near.org/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • August 10 · 54 min

    The EIP That Destroys DeFi | Stani Kulechov & Mike Silagadze

    Ethereum’s latest staking proposal is sparking backlash across DeFi. Aave founder Stani Kulechov and EtherFi CEO Mike Silagadze join David to break down why stake tapering could push ETH yield toward zero, weaken solo staking, drive capital out of DeFi, and make ETH less attractive to institutions. They debate Ethereum’s monetary policy, whether the network is overpaying for security, and why trying to make ETH more like Bitcoin could undermine what makes Ethereum valuable in the first place. Subscribe for more conversations from the frontier of crypto. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS Intro 0:00 0:09 Ethereum’s Staking Debate 2:41 Stani’s First Reaction 7:48 Mike’s Centralization Concerns 14:37 DeFi Under Pressure 17:15 Stani on Yield and Cash Flow 24:54 The Case for Vanilla Ether 27:20 Mike Pushes Back 34:27 Issuance and Monetary Policy 35:16 Minimum Viable Issuance 40:47 Institutions Need Predictability 46:10 Conservative Yield, Not Zero 47:46 Legitimacy and Process 52:54 Final Verdict on the EIP --- RESOURCES Stani Kulechov https://x.com/StaniKulechov Mike Silagadze https://x.com/MikeSilagadze --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • August 7 · 1 hr 6 min

    ROLLUP: The ETH Issuance War | $130M Coldcard Exploit | Saylor Sells Again | Uniswap Launchpad

    Ethereum’s monetary policy is suddenly up for debate. Ryan and David unpack the issuance fight dividing researchers and DeFi builders, the Coldcard exploit that hit users who “did everything right,” Saylor’s latest Bitcoin sale, and markets ripping back to all-time highs. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Intro 0:25 Markets, AI, and Bitcoin https://x.com/bulltheoryio/status/2084634593836372202 https://www.vanityfair.com/story/anthropic-situational-awareness-wedding 6:31 Saylor’s Bitcoin Selloff https://x.com/hedgeye/status/2084278278794117372 https://x.com/zerohedge/status/2084247862833971631 https://x.com/saylor/status/2084315637715763579 18:00 Ethereum Issuance Fight https://x.com/zoomerfied/status/2084641592615256254 https://x.com/jdetychey/status/2084638778677751889 https://issuance.wtf/ https://x.com/TrustlessState/status/2084685295484633349 https://x.com/StaniKulechov/status/2084925768711213105 https://x.com/StaniKulechov/status/2084667208668467574 https://x.com/DCinvestor/status/2084971858311438688 https://x.com/MikeSilagadze/status/2084703078909907000 39:59 Coldcard Wallet Drain https://x.com/itscoachgoodman/status/2083527082223563157 https://techcrunch.com/2026/08/04/hackers-steal-over-130-million-by-exploiting-bug-in-offline-hardware-wallets/ https://www.coindesk.com/tech/2026/08/05/coldcard-exploit-could-boost-demand-for-regulated-bitcoin-exposure-analysts-say https://thedefiant.io/news/hacks/i-did-everything-right-coldcard-victims-recount-losing-life-savings https://x.com/EpsilonTheory/status/2083642741075124680 https://x.com/lopp/status/2083575437599371321 https://x.com/AriDavidPaul/status/2083591462726361235 https://x.com/PeterMcCormack/status/2083631731052290261 52:00 Uniswap, Clarity, and Crypto Updates https://x.com/Uniswap/status/2084678603812274275 https://polymarket.com/event/clarity-act-signed-into-law-in-2026/clarity-act-signed-into-law-in-2026 https://www.coindesk.com/policy/2026/07/27/u-s-senate-puts-off-crypto-clarity-act-for-now-as-it-focuses-limited-bandwidth-elsewhere https://x.com/Cloudflare/status/2084648084131242402 https://x.com/NEARProtocol/status/2082879865385062520 https://x.com/zerohedge/status/2084614210118426971 https://x.com/arc/status/2084993791413678099 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • August 5 · 1 hr 5 min

    $ANSEM, Robinhood Chain, & Why SOL Still Beats ETH in 2026 | Mike Dudas

    Memecoins were supposed to be a dead end, but Mike Dudas believes their deeper idea is only beginning to spread. The 6MV investor joins David to unpack Bonk’s role in reviving Solana, Ansem’s latest experiment, Robinhood’s push into the trenches, and how games, collectibles, prediction markets, and compute could power consumer crypto’s next chapter. Mike also answers the $1 million ETH versus SOL question, lays out Ethereum’s best strategic response, and explains why crypto’s slower progress may be setting up a more durable cycle. Subscribe for more conversations from the frontier of crypto. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Bonk at Solana’s Bottom 7:07 What Gives Memecoins Value? 13:45 The Ansem Experiment 20:53 Are Memecoins Built to Die? 26:19 Culture Goes Onchain 29:45 Robinhood, Base, and the Trenches 32:59 Better Assets, Better Cycles 36:20 What 6MV Is Betting On 38:21 The Consumer Crypto Comeback 43:37 Compute Becomes a Market 47:57 Crypto’s AI Diaspora 50:53 SOL Versus ETH 57:02 Cycles, Equity, and Tokens 1:01:34 Why Crypto Takes Longer --- RESOURCES Mike Dudas https://x.com/mdudas --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • August 3 · 1 hr 11 min

    The Next Bull Market is Here, and Obvious | Spencer and Aleks, Blockchain Capital

    Crypto prices are weak, OG sentiment is exhausted, and institutions are leaning in. Blockchain Capital GPs Aleks Larsen and Spencer Bogart join David Hoffman to explain why this disconnect may be the opportunity. They unpack crypto’s shift toward application-layer value, stablecoins as onchain working capital, tokenized equities, Aave V4, public blockchains, and BCAP. Is the cypherpunk dream fading, or becoming the foundation of global finance? --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Buybacks, Burns and Tokenholder Trust 5:47 Why Blockchain Capital Is Doubling Down 14:38 Institutions Arrive as Crypto OGs Lose Faith 21:03 From Infrastructure Scarcity to Abundant Blockspace 30:24 What AI Can Learn From Crypto 38:43 Stablecoins Become Onchain Working Capital 44:41 The Stablecoin Revenue Multiplier 47:40 Aave and Open Financial Infrastructure 55:08 The Roadmap for Tokenized Equities 59:41 Public Chains, Ownership and Compliance 1:04:24 Blockchain Capital’s Tokenized Fund 1:09:03 Bringing BCAP Fully Onchain --- RESOURCES Spencer Bogart https://x.com/CremeDeLaCrypto Aleks Larsen https://x.com/alekslarsen --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 31 · 54 min

    ROLLUP: Korea Gets Liquidated | The AI Trade Unwinds | Crypto Holds Firm | Warsh Holds Rates

    Korea’s leveraged stock boom imploded and the AI trade found a forced seller, but crypto held firm. Ryan and David unpack whether the winds are shifting toward BTC and ETH, Warsh’s hawkish Fed debut, and Ethereum’s 11th birthday. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Intro 0:17 Korea & AI Liquidation https://x.com/kobeissiletter/status/2082463897387257895 https://x.com/KobeissiLetter/status/2082792020993536283 https://www.noahpinion.blog/p/why-did-south-korean-stocks-just https://www.noahpinion.blog/p/the-ai-bust-scenario-that-no-one https://x.com/tbpn/status/2082849965102219677 https://www.cnbc.com/2026/07/30/leopold-aschenbrenners-hedge-fund-is-facing-steep-ai-losses.html https://x.com/amitisinvesting/status/2082860784242049407 14:39 Crypto Holds Firm https://x.com/micro2macr0/status/2081868142230286664 https://x.com/cryptunez/status/2081893515223535625 https://x.com/blknoiz06/status/2082560475951251789 20:27 Warsh, Rates & Global Liquidity https://x.com/YahooFinance/status/2082538170533519741 https://www.theblock.co/post/410092/fed-holds-rates-steady-three-officials-push-hike-crypto-market-stays-flat https://thedefireport.io/research/can-the-economy-handle-rate-hikes https://x.com/AlexCorrino/status/2082667540090859698 https://x.com/Barchart/status/2082683129681092931 https://x.com/wallstengine/status/2082551083583541287 https://capitalwars.substack.com/p/global-liquidity-and-cryptocurrencies 36:47 Clarity Act Stalls https://x.com/EleanorTerrett/status/2082127523249262881 https://polymarket.com/event/clarity-act-signed-into-law-in-2026/clarity-act-signed-into-law-in-2026 https://x.com/Cointelegraph/status/2082190857336205486 38:25 Ethereum Turns Eleven https://x.com/LefterisJP/status/2082771162942075080 https://www.theblock.co/post/410083/ethereum-cypherpunk-manifesto-author-ethereum-foundation-fourth-board-member https://x.com/ethereumfndn/status/2082437165233951223 https://x.com/AyaMiyagotchi/status/2082437879494488566 44:35 Robinhood’s Mixed Quarter https://dune.com/entropy_advisors/robinhood-chain-network-overview https://thedefiant.io/news/blockchains/robinhood-chain-tops-solana-in-tokenized-stock-volume-via-memecoin-pairs 47:52 New York’s Doxxing Scandal https://x.com/haydenzadams/status/2081740559694074248 https://nypost.com/2026/07/27/us-news/mamdani-names-all-nyc-property-owners-who-could-be-hit-with-new-pied-a-terre-tax 53:26 July Wrap-Up --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 30 · 1 hr 4 min

    What's Next for Vaults? | Steakhouse Co-Founder, Adrian Cachinero

    Vaults could become the financial rails that bring trillions onchain, but only if they solve risk, regulation and investor protection. Steakhouse co-founder Adrian Cachinero joins David to explain how vaults work, why repo markets matter and where this new asset-management layer goes next. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Intro 0:13 Vaults Explained 2:27 Morpho and Vault Origins 6:46 Vault Infrastructure Layers 8:53 Curators and Control 18:25 Risk Frameworks 24:48 Risk Creep and Incentives 32:51 Principal-Agent Tensions 39:33 Safe Vaults Scale 41:50 SEC and Regulation 46:58 Two Vault Futures 53:54 Distributors vs Curators 59:21 AI Meets Vaults 1:01:23 Growth and Challenges --- RESOURCES Adrian Cachinero https://www.linkedin.com/in/adriancachinero Steakhouse Financial https://www.linkedin.com/company/steakhouse-financial/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 29 · 1 hr 1 min

    Morpho Midnight: The Future of Fixed-Rate Lending | Paul Frambot

    Every lending protocol in DeFi quietly decides your interest rate for you. Paul Frambot thinks that was always a workaround and Morpho Midnight is his argument for what replaces it. Fixed-rate lending as the only true primitive, pricing trust on-chain, and the one switch Morpho won't flip yet. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 What Is Morpho Midnight? 1:59 DeFi's Wrong First Shape 7:18 The Only Real Primitive 14:47 Inside a Midnight Market 20:49 Openness Is the Advantage 22:52 Order Books and New Curves 30:01 Pricing Trust 35:40 Stablecoins and What's Next 37:13 Who Comes On-Chain Next 42:18 Collapsing the Margin 44:50 The Bankless Connection 47:57 How Big by 2027? 51:59 Hester Peirce on Vaults 55:49 Who Takes the Liability? --- RESOURCES Paul Frambot https://x.com/PaulFrambot --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 27 · 1 hr 5 min

    From Harvard at 18 to Building Crypto's Fastest Exchange | Vlad, Lighter

    What does it take to build an exchange that refuses to choose between speed, cost, security, verifiability and composability? Lighter founder Vlad Novakovski joins David to trace his path from international Olympiads and Harvard at 18 to Citadel, early machine learning, Lunchclub and an 18-month ZK engineering bet. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-20 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 A Particular Set of Skills 11:33 Harvard at 18 19:03 Citadel and the Search for Alpha 25:14 Machine Learning Before the AI Boom 36:46 ​​Finding Elite Talent Early 41:39 The Lunchclub Matching Problem 45:11 Pivoting Into Lighter 51:18 The 18-Month ZK Engineering Bet 56:38 Lighter’s Five Pillars 1:00:04 A New Generation of Exchanges --- RESOURCES Vlad Novakovski https://x.com/vnovakovski --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 24 · 1 hr 3 min

    ROLLUP: Crypto’s 2-Week Deadline | The CLARITY Act | $100 Oil | OpenAI Model Escapes

    Ryan and David unpack the CLARITY Act’s last-minute lifeline, $100 oil, BitMine’s ETH slowdown, and the OpenAI model that escaped its sandbox. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔒NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Intro 0:33 CLARITY Act at a Crossroads https://x.com/EleanorTerrett/status/2079334038104408522 https://x.com/EleanorTerrett/status/2079962528243650990 https://x.com/coindesk/status/2079633633023836667 https://x.com/EleanorTerrett/status/2079608362522575063 https://x.com/politico/status/2080261045114065177 https://polymarket.com/event/clarity-act-signed-into-law-in-2026/clarity-act-signed-into-law-in-2026 17:56 BitMine’s 5% ETH Strategy https://x.com/BitMNR/status/2079184988541448638 https://x.com/ykkz99/status/2079607294354964696 https://x.com/ykkz99/status/2079244980103659697 https://x.com/coindesk/status/2079200035045036162 27:40 Hester Peirce Eyes DeFi Vaults https://x.com/HesterPeirce/status/2080011999702880341 https://x.com/CJRobins01/status/2079976258423627785 https://x.com/Bankless/status/2079536878588715366 https://morpho.org/blog/now-live-morpho-midnight 38:28 BitMEX’s End of an Era https://x.com/CryptoHayes/status/2080286601125482771 https://x.com/BitMEX/status/2080201602456301580 44:36 NEAR Goes Post-Quantum https://bankless.cc/near-podcast https://x.com/NEARProtocol/status/2079189515843821764 48:58 TradFi Moves Deeper Into Crypto https://x.com/EricBalchunas/status/2077774644652790240 https://x.com/JSeyff/status/2077792050573918432 https://crypto.com/us/company-news/cryptocom-announces-400-million-strategic-investment-from-citadel-securities https://x.com/mzorkin/status/2077834551091478695 54:07 OpenAI Model Breaks Out https://simonwillison.net/2026/Jul/22/openai-cyberattack/ https://huggingface.co/blog/security-incident-july-2026 https://openai.com/index/hugging-face-model-evaluation-security-incident/ 1:02:40 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 23 · 46 min

    Securitize Just Went Public — Are We Still Tokenizing the World?

    Securitize has gone public, raised $400 million and tokenized its own equity, but Carlos Domingo says the real race is only beginning. He joins David to explain how Securitize makes money, why investor demand remains tokenization’s biggest bottleneck and what separates an actual onchain share from a synthetic stock wrapper. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Going Public 4:50 Demand Bottleneck 10:19 Real vs Synthetic 17:31 Liquidity Wins 23:43 First Movers 29:24 Trading SECZ 39:47 Spot and Perps 43:01 The $1T Goal --- RESOURCES Carlos Domingo https://x.com/carlosdomingo Securitize https://securitize.io/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 20 · 57 min

    Rebuilding the $12T Repo Market on Bitcoin | Bitcoin Dave

    Bitcoin has won the store-of-value argument, but can it become the foundation of an entirely new credit system? David Seroy of Alpen Labs joins David Hoffman to explore why Bitcoin’s next era may be defined by digital credit, ZK rollups, fixed-duration lending, and an onchain repo market rather than payments alone. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Hyperbitcoinization 3:51 Bitcoin’s Next Phase 9:57 The Talent Crisis 11:29 BitVM and ZK 16:26 Bitcoin L2s 19:06 Bitcoin Credit 28:28 Onchain Repo 34:09 The Yield Curve 38:21 Borrowing and Risk 43:24 Why L2s Failed 48:29 Saylor vs Onchain 54:51 Alpen and Strata 56:36 Ethereum’s Purpose --- RESOURCES Alpen Labs https://www.alpenlabs.io/ --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 17 · 1 hr 7 min

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

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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/ethereumJoseph/status/2076838398510211122 47:29 L2s and Rent Sharing https://x.com/sgoldfed/status/2077082053330272454 https://x.com/l2beat/status/2077764769436553272 https://l2beat.com/native-rollups 56:20 Ethereum Spinoffs Multiply https://x.com/eth_systems/status/2077000602320805918 https://x.com/fradamt/status/2077739531520921621 58:49 DeFi Hacks May Be Peaking https://x.com/hosseeb/status/2076682247168827849 https://x.com/maraoz/status/2059413451265441990 1:01:44 Buy-and-Burn Wins https://x.com/TrustlessState/status/2077186630566224208 https://x.com/blknoiz06/status/2077773554033037509 1:06:29 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

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  • July 16 · 56 min

    Why Every Chain, Wallet & App Is Integrating NEAR Intents | Kendall Cole

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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

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  • July 15 · 49 min

    Jito Declares War on Coinbase & Binance | Lucas Bruder on the Launch of JTX

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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

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  • July 13 · 55 min

    Is Bitcoin Going According to Plan? Gold, Saylor, Satoshi | Dan Held

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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

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  • July 10 · 1 hr 4 min

    ROLLUP: War Returns, Markets Shrug | Saylor Sells | Robinhood Memecoins | Ethereum 3.0?

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- 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/status/2075056773724062031 https://x.com/rambo_xbt/status/2075192964259672434 https://x.com/TrustlessState/status/2062122936790581520 1:04:00 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

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  • July 7 · 54 min

    How Hyperliquid Becomes the Backend for ALL of Finance | Tushar Jain

    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. --- 🧭OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS --- 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. --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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-valuation/ The report includes important disclosures concerning the data and assumptions by Multicoin discussed today. Multicoin may have interests in companies mentioned during the episode. --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

    • Transcript
  • July 6 · 32 min

    The Rise of Robinhood Chain: Tokenized Stocks, Perps, and 27M Users | Johann Kerbrat

    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. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- 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

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  • July 3 · 1 hr 4 min

    ROLLUP: Crypto Bullish Again? | OpenUSD vs USDC | Robinhood Chain | Trump’s $1.4B Haul

    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. --- 📣OKX | THE NEW MONEY APP https://app.okx.com/en-us/join/usbankless --- BANKLESS SPONSOR TOOLS: 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE https://app.okx.com/join/USBANKLESS 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯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/introducing-open-usd/ https://x.com/stripe/status/2071948464762618051 https://x.com/jerallaire/status/2072252803163255179 https://x.com/lorenzoark/status/2071997238713127404 https://x.com/HadickM/thread/2072286093744234864 https://x.com/koeppelmann/status/2071961529671418065 https://x.com/paoloardoino/status/2071982330915225771 46:10 Ethereum Institutional Launches https://x.com/ethereuminsti/status/2072304960142729373 https://www.ethereuminstitutional.org/ https://x.com/fundstrat/status/2072318453248094708 https://x.com/Sharplink/status/2072307000298397834 https://x.com/ethlabs_org/status/2072326438594748921 49:03 Trump’s $1.4B Crypto Disclosure https://x.com/aggrnews/status/2072059335081967812 https://x.com/AC360/status/2072128334666879070 https://x.com/business/status/2072069350060617837 54:28 Solana Memecoin Revival https://x.com/TrustlessState/status/2072653822283874481 https://www.coingecko.com/en/coins/the-black-bull https://x.com/Adam_Tehc/status/2072183263893065930 https://polymarket.com/event/what-price-will-ansem-hit-in-2026 59:20 Cloudflare x402 Stablecoin Payments https://blog.cloudflare.com/monetization-gateway/ https://youtu.be/TKVY4hVAd9g 1:02:08 Meme of the Week https://x.com/pubity/status/2072436231284072635 https://x.com/FoxNews/status/2072357302942752993 https://x.com/RidazLp2/status/2072563280602927377/photo/4 1:03:35 Closing & Disclosures --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

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Showing 21–40 of 44 episodes