Podcast
Bankless
Hosted by Bankless · EN
The Ultimate Guide to Crypto Finance. DeFi, NFTs, and cryptocurrencies. Level up. Go bankless.
240episodes
Episodes
Newest firstAll episodes
ROLLUP: Bull Market? | Inflation Cools, War Heats | Robinhood Flips Base | ETH’s Fee Problem
Today01:07:06Summary readyInflation 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDEhttps://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Intro0:29 Cycle Bottom Watchhttps://x.com/TrustlessState/status/2077774313726304659https://x.com/goodalexander/status/2077031311664197738https://x.com/brian_armstrong/status/20768576380597207365:24 Inflation Cools, War Heatshttps://x.com/kobeissiletter/status/2077008212994253025https://x.com/geiger_capital/status/207701147758045198314:56 Crypto Outperforms Stockshttps://x.com/saylor/status/2076638696053276748https://x.com/TrustlessState/status/2076647130572235017https://x.com/TrustlessState/status/207719711920775609822:34 Robinhood Chain Breaks Outhttps://x.com/donnoh_eth/status/2075890751834071189https://dune.com/entropy_advisors/robinhood-chain-network-overviewhttps://www.coindesk.com/business/2026/07/15/the-launchpad-that-fueled-robinhood-chain-s-memecoin-boom-just-gave-away-all-its-revenuehttps://dune.com/adam_tehc/the-robinhood-trenches29:31 Base Pivots to Tradinghttps://x.com/jessepollak/status/2077427261586997745https://x.com/jessepollak/status/2077550728416256489https://x.com/austincampbell/status/207754530578906739836:15 Does ETH Earn Enough?https://x.com/vladtenev/status/2076666114801877310https://x.com/LorenzoARK/status/2076792007184298076https://x.com/apolynya/status/2077301418860466487https://x.com/TrustlessState/status/2077400104458154428https://x.com/ethereumJoseph/status/207683839851021112247:29 L2s and Rent Sharinghttps://x.com/sgoldfed/status/2077082053330272454https://x.com/l2beat/status/2077764769436553272https://l2beat.com/native-rollups56:20 Ethereum Spinoffs Multiplyhttps://x.com/eth_systems/status/2077000602320805918https://x.com/fradamt/status/207773953152092162158:49 DeFi Hacks May Be Peakinghttps://x.com/hosseeb/status/2076682247168827849https://x.com/maraoz/status/20594134512654419901:01:44 Buy-and-Burn Winshttps://x.com/TrustlessState/status/2077186630566224208https://x.com/blknoiz06/status/20777735540330375091:06:29 Closing & Disclaimers---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
Why Every Chain, Wallet & App Is Integrating NEAR Intents | Kendall Cole
Yesterday00:56:18Summary readyNEAR 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Intro2:29 Chains Need Neutrality4:20 Near’s Chain Abstraction Vision6:03 Wallets to Retail Expansion9:30 Bootstrapping Liquidity and Partners11:23 RWA Asset Explosion15:00 Tokenized Stocks on Near15:57 One App Across Chains19:01 Near as Chain Abstraction21:35 Trading Bots and Payments24:54 MiCA’s Market Shock28:16 Noncustodial Compliance Strategy29:17 Euro Onramps into Near31:38 Regulation Meets On-Chain Freedom38:09 Confidential Intents Launch41:15 Privacy for Users and Firms43:36 Private Zcash Routing46:50 Privacy for AI Models49:52 Near’s Fee Capture Model52:19 Crypto as Exchange Infrastructure---RESOURCESKendall Colehttps://www.linkedin.com/in/kendall-cole-91b00534/Proximity Labshttps://x.com/proximityfiNear Intentshttps://x.com/near_intents---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
Jito Declares War on Coinbase & Binance | Lucas Bruder on the Launch of JTX
2d ago00:49:49Summary readyOnchain 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Solana and Tokenized Stocks2:22 What Is JTX?8:44 A Better Trading UX11:25 Better Execution15:37 The JTX Roadmap19:35 JTO and SOL Tokenomics25:23 Why Solana Got Better29:34 Prop AMMs Explained37:25 Liquidity and Market Makers40:04 Solana vs. Robinhood Chain46:51 The JTX Rollout48:07 Global Markets and the SOL Thesis---RESOURCESLucas Bruderhttps://x.com/buffalu__JTXhttps://x.com/jtx_trade---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
Is Bitcoin Going According to Plan? Gold, Saylor, Satoshi | Dan Held
4d ago00:57:31Summary readyWhat 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Is Bitcoin Going According to Plan?2:39 Bitcoin’s Culture Changed, But Did the Code?9:06 From Magic Internet Money to Digital Gold15:08 Michael Saylor, Strategy and Concentration Risk20:08 Is Bitcoin Becoming Too US-Coded?24:12 Did Bitcoin Miss Its Scaling Moment?29:42 Privacy, Cash and Bitcoin’s Tradeoffs32:15 Satoshi’s Design Choices37:50 BIPs, Quantum Risk and Bitcoin Upgrades41:35 How Urgent Is Quantum?44:14 The Satoshi Mystery47:38 Bitcoin’s Next Phase of Adoption49:23 Will Bitcoin Flip Gold?53:11 Being Early Looks Crazy---RESOURCESDan Heldhttps://x.com/danheld---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
ROLLUP: War Returns, Markets Shrug | Saylor Sells | Robinhood Memecoins | Ethereum 3.0?
1w ago01:04:58Summary readyWar 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks 🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDEhttps://app.okx.com/join/USBANKLESS 🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless ---TIMESTAMPS0:00 Intro3:12 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/2074101854875656316https://www.bankless.com/read/how-strategy-can-sell-billions-in-bitcoinhttps://x.com/rob_e89rtosmit/status/207448477262217230720:17 Robinhood Chain’s First Hit: Memecoinshttps://x.com/vladtenev/status/2074695821896065360https://x.com/haydenzadams/status/2075062776473546979https://www.coindesk.com/tech/2026/07/09/cashcat-trader-turns-usd800-into-over-usd1-million-on-robinhood-s-brand-new-blockchainhttps://dune.com/entropy_advisors/robinhood-chain-network-overview28:17 Ethereum 3.0? Vitalik’s New Strawmaphttps://x.com/VitalikButerin/status/2073459000398463446https://strawmap.orghttps://x.com/r2Jamong/status/2074053557284982925https://x.com/barnabemonnot/status/2073708226701328474https://x.com/dankrad/status/2073532475431887354https://x.com/DefiIgnas/status/207348043188705695845:46 JPMorgan’s $700M Ethereum Fund & Paradigm Fundraisehttps://cryptobriefing.com/jpmorgan-jltxx-tokenized-money-market-fund-surges-250-percent/https://x.com/TradingProtocol/status/2074383012939141407https://x.com/matthuang/status/207487357398303580153:13 The Fight for 24/7 Markets & David’s Portfolio Check-Inhttps://x.com/jchervinsky/status/2075230297134645744https://x.com/econoar/status/2075056773724062031https://x.com/rambo_xbt/status/2075192964259672434https://x.com/TrustlessState/status/20621229367905815201:04:00 Closing & Disclaimers---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
How Hyperliquid Becomes the Backend for ALL of Finance | Tushar Jain
1w ago00:54:04Summary readyMulticoin 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 WORLDWIDEhttps://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 MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Intro1:50 Perps Get TradFi’s Attention3:17 More Than a Perp DEX6:29 Why Portfolio Margining Matters11:13 HIP3 and Permissionless Market Creation13:47 Hyperliquid Becomes a Platform19:54 The On-Ramp Question21:36 Perps Are Not the Whole Thesis28:04 Cash Flow as the Credibility Signal33:05 Valuation Multiples and Lighter34:36 Multicoin’s HYPE Framework42:05 Token Value Capture43:34 Unlocks, Wealth, and Team Motivation48:30 The US Perps Question52:27 Does Hyperliquid Need to Come Onshore?54:32 The Final Bull Case---RESOURCESTushar Jainhttps://x.com/tushar_jainMulticoin'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
Summary
The Rise of Robinhood Chain: Tokenized Stocks, Perps, and 27M Users | Johann Kerbrat
2w ago00:32:44Summary readyRobinhood 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Intro1:45 Robinhood Chain Goes Live2:45 Robinhood’s 15-Product Crypto Push5:47 Tokenized Stocks on Robinhood Chain11:32 USDG Yield and Robinhood Earn16:19 Perps Across Robinhood, Bitstamp, and Lighter19:44 The Lighter Partnership23:12 Will Robinhood and DeFi Converge?27:15 Why Robinhood Chose Arbitrum28:40 Building Crypto for Non-Crypto Users31:36 How to Get Started on Robinhood Chain---RESOURCESJohann Kerbrathttps://x.com/JohannKerbrat---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
ROLLUP: Crypto Bullish Again? | OpenUSD vs USDC | Robinhood Chain | Trump’s $1.4B Haul
2w ago01:04:20Summary readyCrypto 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 APPhttps://app.okx.com/en-us/join/usbankless---BANKLESS SPONSOR TOOLS:🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDEhttps://app.okx.com/join/USBANKLESS📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless---TIMESTAMPS & RESOURCES 0:00 Intro2:37 Market Bounce + Fed Watchhttps://x.com/KillaXBT/status/2072288076928266434https://www.cnbc.com/2026/07/01/kevin-warsh-ecb-forum-live-updates.htmlhttps://polymarket.com/event/fed-decision-in-july-181https://thedefireport.io/research/52-of-the-btc-supply-is-now-in-the-redhttps://x.com/Geiger_Capital/status/20726601060350283958:37 Strategy’s Digital Credit Capital Frameworkhttps://x.com/saylor/status/2071565162377568377https://x.com/Strategy/status/207156522569900476116:37 The Rise of Robinhood Chainhttps://x.com/RobinhoodApp/status/2072390893181481419https://x.com/charliekerr/status/2072477658802217187https://x.com/EntropyAdvisors/thread/2072395320752050212https://x.com/trent_vanepps/status/2072405895313588351https://x.com/Lighter_xyz/status/2072394977729040722https://x.com/Lighter_xyz/status/207240192509444110926:10 Venice AI Becomes a Unicornhttps://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/2072326370206581037https://x.com/ErikVoorhees/status/2072336126912630921https://x.com/MikeIppolito_/status/2072353260795572281https://x.com/ChainLinkGod/status/2072378849921577306https://x.com/CosimoCapital/status/207245095827005039435:07 OpenUSD vs USDChttps://joinopenstandard.com/blog/introducing-open-usd/https://x.com/stripe/status/2071948464762618051https://x.com/jerallaire/status/2072252803163255179https://x.com/lorenzoark/status/2071997238713127404https://x.com/HadickM/thread/2072286093744234864https://x.com/koeppelmann/status/2071961529671418065https://x.com/paoloardoino/status/207198233091522577146:10 Ethereum Institutional Launcheshttps://x.com/ethereuminsti/status/2072304960142729373https://www.ethereuminstitutional.org/https://x.com/fundstrat/status/2072318453248094708https://x.com/Sharplink/status/2072307000298397834https://x.com/ethlabs_org/status/207232643859474892149:03 Trump’s $1.4B Crypto Disclosurehttps://x.com/aggrnews/status/2072059335081967812https://x.com/AC360/status/2072128334666879070 https://x.com/business/status/207206935006061783754:28 Solana Memecoin Revivalhttps://x.com/TrustlessState/status/2072653822283874481https://www.coingecko.com/en/coins/the-black-bullhttps://x.com/Adam_Tehc/status/2072183263893065930https://polymarket.com/event/what-price-will-ansem-hit-in-202659:20 Cloudflare x402 Stablecoin Paymentshttps://blog.cloudflare.com/monetization-gateway/https://youtu.be/TKVY4hVAd9g1:02:08 Meme of the Weekhttps://x.com/pubity/status/2072436231284072635https://x.com/FoxNews/status/2072357302942752993https://x.com/RidazLp2/status/2072563280602927377/photo/41:03:35 Closing & Disclosures---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
How Ondo Is Bringing Stocks and Perps Onchain | Ian De Bode
2w ago00:48:46Summary readyThe 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.---📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Ondo’s RWA Moment1:17 How SpaceX Stock Hit Ethereum in Minutes2:57 What Actually Backs a Tokenized Stock?4:49 The Onchain and Offchain Market Machine10:29 Where the Demand Comes From12:46 The Most Popular Tokenized Stocks14:54 Why Perps Need Better Collateral20:46 New Strategies for Onchain Asset Management25:02 The Next 12 to 18 Months26:14 How Big Can Perps Get?28:46 Offshore Versus Onshore Perp Markets32:05 Inside Ondo Perps36:24 Why Not Build on Hyperliquid?37:49 Launch Timeline and Early Demand39:48 Will Wall Street Incumbents Compete or Help?43:52 Ondo’s 2026 Roadmap45:22 Remembering Nathan Allman---RESOURCESIan De Bodehttps://x.com/iandebode---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
Strategy is Trapped & in Crisis — "It's Basically a Hedge Fund Now" | Jeff Dorman & Matt Walsh
2w ago00:53:50Summary readyMichael 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.---📣OKX | THE NEW MONEY APPhttps://app.okx.com/en-us/join/usbankless---BANKLESS SPONSOR TOOLS:🔮POLYMARKET | #1 PREDICTION MARKEThttps://bankless.cc/polymarket-podcast📊BITGET | TOKENIZED STOCKS 2.0https://bankless.cc/bitget-stocks🎯THE DEFI REPORT | ONCHAIN INSIGHTShttps://thedefireport.io/bankless👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODEShttps://bankless.cc/spotify-premium---TIMESTAMPS0:00 Intro2:30 Can Stretch Return to 100?4:00 Explaining the New Framework4:43 Can the Capital Stack Coexist?6:39 Refunding the Converts8:32 MNAV Near the Breaking Point11:15 Option Value or Investor Betrayal15:37 Legal Risk and Retail Exposure19:52 Buying Time, Not Solving It22:20 Scenario Odds After the Pivot24:54 Sell Bitcoin or Wait28:59 M&A as a New Path34:13 Temporary Relief, Future Crash36:21 Slow Bleed, Not Bankruptcy40:58 Bitcoin Needs a Bigger Narrative46:56 Would Jeff Buy Stretch?48:26 Is the Model Actually Genius?52:09 Closing & Disclaimers---RESOURCESMatt Walshhttps://x.com/MattWalshInBosJeff Dormanhttps://x.com/jdorman81---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary