Podcast
Bankless
Hosted by Bankless · EN
The Ultimate Guide to Crypto Finance. DeFi, NFTs, and cryptocurrencies. Level up. Go bankless.
256episodes
Episodes
Newest firstAll episodes
Morpho Midnight: The Future of Fixed-Rate Lending | Paul Frambot
3w ago01:02:46Summary readyEvery 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACKhttps://bankless.cc/near-pod📊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 What Is Morpho Midnight?1:59 DeFi's Wrong First Shape7:18 The Only Real Primitive14:47 Inside a Midnight Market20:49 Openness Is the Advantage22:52 Order Books and New Curves30:01 Pricing Trust35:40 Stablecoins and What's Next37:13 Who Comes On-Chain Next42:18 Collapsing the Margin44:50 The Bankless Connection47:57 How Big by 2027?51:59 Hester Peirce on Vaults55:49 Who Takes the Liability?---RESOURCESPaul Frambothttps://x.com/PaulFrambot---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
From Harvard at 18 to Building Crypto's Fastest Exchange | Vlad, Lighter
3w ago01:05:00Summary readyWhat 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACKhttps://bankless.cc/near-20📊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 A Particular Set of Skills11:33 Harvard at 1819:03 Citadel and the Search for Alpha25:14 Machine Learning Before the AI Boom36:46 Finding Elite Talent Early41:39 The Lunchclub Matching Problem45:11 Pivoting Into Lighter51:18 The 18-Month ZK Engineering Bet56:38 Lighter’s Five Pillars1:00:04 A New Generation of Exchanges---RESOURCESVlad Novakovskihttps://x.com/vnovakovski---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
ROLLUP: Crypto’s 2-Week Deadline | The CLARITY Act | $100 Oil | OpenAI Model Escapes
3w ago01:03:45Summary readyRyan 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: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔒NEAR | TRADE CONFIDENTIALLY, GET 20% BACKhttps://bankless.cc/near-podcast📊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 Intro0:33 CLARITY Act at a Crossroadshttps://x.com/EleanorTerrett/status/2079334038104408522https://x.com/EleanorTerrett/status/2079962528243650990https://x.com/coindesk/status/2079633633023836667https://x.com/EleanorTerrett/status/2079608362522575063https://x.com/politico/status/2080261045114065177https://polymarket.com/event/clarity-act-signed-into-law-in-2026/clarity-act-signed-into-law-in-202617:56 BitMine’s 5% ETH Strategyhttps://x.com/BitMNR/status/2079184988541448638https://x.com/ykkz99/status/2079607294354964696https://x.com/ykkz99/status/2079244980103659697https://x.com/coindesk/status/207920003504503616227:40 Hester Peirce Eyes DeFi Vaultshttps://x.com/HesterPeirce/status/2080011999702880341https://x.com/CJRobins01/status/2079976258423627785https://x.com/Bankless/status/2079536878588715366https://morpho.org/blog/now-live-morpho-midnight38:28 BitMEX’s End of an Erahttps://x.com/CryptoHayes/status/2080286601125482771https://x.com/BitMEX/status/208020160245630158044:36 NEAR Goes Post-Quantumhttps://bankless.cc/near-podcasthttps://x.com/NEARProtocol/status/207918951584382176448:58 TradFi Moves Deeper Into Cryptohttps://x.com/EricBalchunas/status/2077774644652790240https://x.com/JSeyff/status/2077792050573918432https://crypto.com/us/company-news/cryptocom-announces-400-million-strategic-investment-from-citadel-securitieshttps://x.com/mzorkin/status/207783455109147869554:07 OpenAI Model Breaks Outhttps://simonwillison.net/2026/Jul/22/openai-cyberattack/https://huggingface.co/blog/security-incident-july-2026https://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
Summary
Securitize Just Went Public — Are We Still Tokenizing the World?
4w ago00:46:36Summary readySecuritize 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: 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 Going Public4:50 Demand Bottleneck10:19 Real vs Synthetic17:31 Liquidity Wins23:43 First Movers29:24 Trading SECZ39:47 Spot and Perps43:01 The $1T Goal---RESOURCESCarlos Domingohttps://x.com/carlosdomingoSecuritizehttps://securitize.io/---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
Rebuilding the $12T Repo Market on Bitcoin | Bitcoin Dave
4w ago00:58:51Summary readyBitcoin 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: 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 Hyperbitcoinization3:51 Bitcoin’s Next Phase9:57 The Talent Crisis11:29 BitVM and ZK16:26 Bitcoin L2s19:06 Bitcoin Credit28:28 Onchain Repo34:09 The Yield Curve38:21 Borrowing and Risk43:24 Why L2s Failed48:29 Saylor vs Onchain54:51 Alpen and Strata56:36 Ethereum’s Purpose---RESOURCESAlpen Labshttps://www.alpenlabs.io/---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures
Summary
ROLLUP: Bull Market? | Inflation Cools, War Heats | Robinhood Flips Base | ETH’s Fee Problem
Jul 1701:07:06Summary 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
Jul 1600:56:18Summary 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
Jul 1500:49:49Summary 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
Jul 1300:57:31Summary 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?
Jul 1001:04:58Summary 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