Podcast Summary: The Wolf Of All Streets

Episode: Bitcoin ETF Inflows EXPLODE & U.S. Banks Go ALL IN On Crypto!
Date: November 12, 2025
Host: Scott Melker
Guest: Dave Weisberger

Overview

In this episode, host Scott Melker and returning guest Dave Weisberger dive into the latest flurry of positive momentum for Bitcoin and crypto markets, with a focus on record spot Bitcoin ETF inflows and major U.S. banks entering the crypto space. They break down market dynamics, dissect the ripple effects of regulatory inertia, ICO history, the evolving ETF and stablecoin landscape, and the future of blockchain-powered finance. The conversation balances market insights, historical context, and sharp-edged commentary with plenty of wit and candor.

Key Topics & Insights

1. Bitcoin ETF Inflows and Market Dynamics

(00:01–06:15)

• Massive net inflows ($524M) into Bitcoin spot ETFs highlight strong institutional interest.
• Bitcoin is trading in a tight range ($100K–$107K), reflecting both bullish sentiment and cautious profit-taking.
• Weisberger notes that strategic moves by major institutions—like the U.S. government recognizing Bitcoin as a strategic asset—are profound market drivers.

  “The bids are very, very real, very consistent. Not a wall of buying like people like to think in crypto, but just consistent bidding as the market kind of comes in.” — Dave Weisberger (03:25)

• He explains that current buyers are older, experienced investors seeking long-term 5–10x gains, not short-term traders chasing leverage.

2. Altcoins, ICOs, and Regulatory Lessons

(06:16–18:00)

• Scott and Dave reflect on the fate of ICOs, using EOS as a cautionary tale: $4B raised, now valued at <$500M, with its treasury holding vast Bitcoin reserves.

  “EOS, which has zero utility, zero value, zero potential... is worth more than almost all of the Russell 2000 companies... That gives you an understanding of the overvaluation of the fat tail of crypto.” — Dave Weisberger (07:19)

• Discussion on how lack of regulation and non-dilutive capital fueled the ICO boom, with little recourse for retail investors.
• Coinbase’s new token launch platform is highlighted for its attempt at transparency (disclosure of market makers, vesting schedules, etc.) compared to the wild west of prior ICOs.

  “They are trying to bring transparency at least into how the tokens launch, how they're traded, where the liquidity comes from...” — Scott Melker (14:12)

• Weisberger applauds efforts by Coinbase and others to self-regulate in the absence of government clarity, but stresses the need for codified investor protections.

3. Spot ETF News & Regulatory Process

(18:00–26:32)

• Despite the government shutdown, ETFs saw huge inflows, and new products (Solana, Link, XRP ETFs) are launching or pending approval.
  • Shutdown delayed IPOs and ETF approvals, affecting both Wall Street and crypto sectors.
• Scott: “I think it's time to get the bullish news going again and start to get some of these things launched.” (18:59)
• Weisberger: “Everybody who is saying short, short, short... is basing it upon a myth. They're basing it upon the phantom. It's called the four year cycle. And they don't understand where it comes from.” (22:57)
• They debunk the “four year cycle” as an investment guide, arguing correlations like the “McRib indicator” are just as (in)valid.

4. Banks and Big Finance Going All-In on Crypto

(26:32–39:58)

• SoFi Bank’s new crypto offering makes it the first nationally chartered bank to launch direct crypto trading.

  “If they're doing it, everybody else is going to be doing it. Right? Because you can't just have one.” — Scott Melker (26:39)

• The future is a hybrid model: banks and fintechs merging features, with broad adoption of stablecoins and tokenized assets for consumer use (auto pays, investments, etc.)

  “Every platform that allows trading of tokenized assets is going to end up with easy, simple payment rails... using stablecoins.” — Dave Weisberger (27:43)

• Major institutions (JP Morgan, Visa, MasterCard) are racing to build on-chain payment solutions (JPM Coin, Direct USDC payouts).
  • JP Morgan is now launching more publicly on Base chain, collaborating with Coinbase.
  • UAE executes first digital Dirham transaction under a CBDC pilot, showing global government adoption.

5. The Changing Face of Stablecoins & CBDCs

(39:59–37:37)

• Discussion about institutional tokens and the blurred lines between stablecoins, depository tokens, and regulatory semantics.

  “If you damn well ever call this a stable coin, you're going to face severe consequences.” — Dave Weisberger recalling bank legal advice (36:35)

• Not all CBDCs are the same: some may enhance surveillance (China/Europe), others function as improved wires.

  "CBDC in a communist country is used for control. A CBDC in a lot of these other countries will literally just be used like FedWire." — Scott Melker (34:45)

6. Investing Mindset: Adjusting for Reality

(39:59–44:02)

• Dave urges listeners to recalibrate expectations: the days of routine 100x gains are gone except for brand-new, high-risk ventures.

  “If there's one thing to take away... is moderate your expectations and invest for your actual family and growing wealth.” — Dave Weisberger (43:29)

• Most realistic is to expect quality blockchains/tokens might see double or triple if they have real revenue tie-ins.

7. Quantum Computing and Crypto Threats

(44:02–48:38)

• News of BTQ Technologies' quantum acquisition sparks debate: Is quantum a true threat to crypto?
• Weisberger: Most at-risk are traditional finance systems (e.g., ACH, SWIFT, FedWire), rather than Bitcoin itself, but old wallets could be vulnerable.
  • “The existential threat is to the existing financial system. That's where you really should be worried.” (45:54)
• AI and quantum together will turbocharge both cybersecurity and potential offensive capabilities.

Notable Quotes & Memorable Moments

• On trading ranges:
  “We are in a trading range until proven otherwise.” — Dave Weisberger (49:18)
• On ICO misaligned incentives:
  “Non-dilutive capital... drove me absolutely bananas back then.” — Dave Weisberger (08:03)
• On four-year cycles:
  “The McRib Indicator... has a higher statistical correlation than the four year cycle.” — Dave Weisberger (26:01)
• On banking & fintech convergence:
  “If you’re sitting at a depository institution... not thinking about offering trading crypto... you are destined to become Kodak or Polaroid.” — Dave Weisberger (28:41)
• On the future of blockchain investing:
  “If the answer to [token value accrual] is yes, it's very investable because the total addressable market is going to explode.” — Dave Weisberger (41:08)

Important Timestamps

• Bitcoin ETF Inflows & Institutional Buyers: 00:01–06:16
• ICO & EOS Postmortem, Regulation: 06:16–12:28
• Coinbase Transparency and Self-Regulation: 13:37–18:00
• ETF Updates & Debunking the Four Year Cycle: 18:00–26:32
• U.S. Banks and Stablecoins, JPM & Visa: 26:32–39:59
• CBDCs and Regulatory Arbitrage: 34:45–37:37
• Investment Reality Check: 39:59–44:02
• Quantum Risks to Crypto: 44:02–48:38
• Wrap-up and Trading Range Reminder: 48:38–49:19

Tone and Style

Lively, conversational, sometimes irreverent—Scott and Dave offer tough-love market insights while skewering bad actors and regulatory obstacles. Weisberger’s acerbic wit and rich anecdotes provide practical context, while Melker keeps the pace brisk, relatable, and slightly sardonic.

Bottom Line

Massive institutional flows into Bitcoin ETFs and the full-throated entry of major U.S. banks signal the mainstreaming of crypto. Regulatory frameworks lag behind industry innovation, but leaders like Coinbase are stepping up on transparency. Investors should temper their moonshot dreams—and prepare for a future where stablecoins, CBDCs, and tokenized assets are as normal as online banking. The four-year cycle is overrated; real-world use cases and institutional adoption are what matter now. The next era of crypto will be defined by who can win the trust (and business) of both regulators and users.