Bankless @Bankless

NEW EPISODE: @ethlabs_org : The New Org to Make @Ethereum Win | @adietrichs & @casparschwa Ethlabs is here with a blunt mission: make Ethereum and ethereum:native win. Ansgar and Caspar join @TrustlessState to unpack why the @Ethereumfndn is narrowing its focus, why Ethereum needs another R&D node, and how Ethlabs plans to push the protocol back toward scaling, interop, adoption, and value accrual. --- 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

Thanks to our partners at Polymarket. Try today👇 polymarket.com/event/what-pri…

$BTC just slipped below $60K and the market is bleeding. So what is @Polymarket pricing now? “Polymarket is giving Bitcoin a 48% chance of hitting $45,000… a 31% chance of hitting $40,000.” But the upside is still there too: “There’s equal probability that Bitcoin hits $75,000 as it does $45,000.” The bearish numbers are growing.

WEEKLY ROLLUP: Bitcoin Breaks Below $60K | Saylor’s Three Bad Options | ETH Labs | The Quantum Clock Markets are bleeding, bitcoin:native is back below $60K, and @saylor have no clean way out. @RyanSAdams and @TrustlessState break down the @MicroStrategy squeeze, @ethereum ’s power shift, quantum risk, and Illinois’ new crypto tax. --- TIMESTAMPS 0:00 Intro 3:35 Bitcoin Below $60K and @Strategy's 3 Body Problem - @saylor - @Pentosh1 - @jdorman81 - @ki_young_ju - @PeterSchiff 17:59 ethereum:native, 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 31:32 Ethereum’s Center of Gravity Shifts: @ethereumfndn Cuts and @ethlabs_org - @VitalikButerin - @aerugoettinea - @tkstanczak - @bobbyong - @ethlabs_org - @TrustlessState - @trent_vanepps 51:50 White House Quantum EO: Are Crypto Timelines Moving Up? - @WhiteHouse - @projecteleven - @drakefjustin 57:25 Illinois Passes a 0.2% Crypto Transaction Tax - @0xBeaconLayer - @manwithadogg - @DarrenBaileyIL 59:50 Portfolio Check and Crypto Bottom Watch

AI agents opened the privacy Pandora’s box. @ilblackdragon: “Right now, agents accidentally read all your private keys and secrets and passwords…” “Somewhere in the logs of Anthropic… your keys, all your information, all your tokens…” “When you use centralized providers, all the data goes there.”

Bankless @Bankless

6 days ago

INTERVIEW: AI, Surveillance, & the Fight for Digital Sovereignty | Near's Illia Polosukhin What happens when powerful AI requires an ID, governments can restrict access by country, and your most private data flows through centralized systems? @NEARProtocol co-founder

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NEW REPORT: Why does bitcoin:native continue to track the 4-Year Cycle? Bitcoin’s 4-year cycle may look arbitrary, but the data tells a deeper story. @JustDeauIt and @RyanSAdams break down how leverage, credit, stablecoins, DeFi loans, miners, and Strategy drive crypto’s recurring booms and busts, and whether one final domino still needs to fall. [TIMESTAMPS] 0:00 Intro 5:21 Bitcoin’s Capital Base 15:00 Leverage Drives the Premium 20:07 Stablecoins and VC Flow 23:08 On-Chain Loan Cycles 26:08 Perps and Treasury Leverage 32:14 Deleveraging and Hidden Risks 34:29 Miner Capitulation 37:12 Why Four Years? 40:08 ETH and Solana Positioning

INTERVIEW: Fomo’s $75M Bet on Making Crypto Trading Mainstream Crypto trading is still built for insiders. @fomo's @seyong joins @TrustlessState to explain how the company’s $75 million raise is funding a trading app for everyone else, why the next wave of users will never manage wallets or gas fees, and how Fomo plans to bring tokens, perps, stocks, prediction markets, and more into one seamless experience. They also unpack why the memecoin trenches have become a rigged game, how radical transparency could protect everyday traders, and what it will take to make onchain finance truly mainstream. [TIMESTAMPS] 0:14 fomo Explained 2:15 Beyond Crypto Apps 5:44 User Growth And Adoption 9:15 Trading More Than Crypto 12:10 Lessons From The Trenches 15:19 What The Raise Funds 20:27 Memecoins And Risk 26:22 Radical Transparency 27:15 fomo Social Features 29:48 Product Priorities Ahead

YouTube youtu.be/5sfbqngDK_M Spotify open.spotify.com/episode/3LCw0W… Apple podcasts.apple.com/us/podcast/ban…

INTERVIEW: AI, Surveillance, & the Fight for Digital Sovereignty | Near's Illia Polosukhin What happens when powerful AI requires an ID, governments can restrict access by country, and your most private data flows through centralized systems? @NEARProtocol co-founder @ilblackdragon joins @TrustlessState 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. [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

"Is near:native bullish the more restrictive governments become?" - @TrustlessState “The harder it is to get a bank account, the harder it is to transfer money, the more bullish blockchain becomes.” - @ilblackdragon Private models. Transparent restrictions. Decentralized infrastructure. “If they don’t want to get nationalized, they will become decentralized.”

Bankless @Bankless

6 days ago

INTERVIEW: AI, Surveillance, & the Fight for Digital Sovereignty | Near's Illia Polosukhin What happens when powerful AI requires an ID, governments can restrict access by country, and your most private data flows through centralized systems? @NEARProtocol co-founder

5 6 47 57K 13

.@CryptoHayes thinks AI is in a bubble and the closest historical comp is the railroad buildout. "humans are always over optimistic at the beginning of any technological build out." "What happened with the railroad build out?" "credit grew into railroads and sort of an over indexing about the return that these things could generate." Now, he says AI has the same problem: "it's all these circular revenue deals." "it's all just circular accounting" "i gotta think about the exit from this thing"

Bankless @Bankless

a week ago

INTERVIEW: @CryptoHayes - The AI Crash That Could Send bitcoin:native to $1M Arthur thinks the AI trade is sucking the oxygen out of crypto, and the real opportunity may come after the AI bubble cracks. Inside the episode: - AI CapEx mania - Why ethereum:native looks cheap -

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Ethlabs is supported by a broad coalition across the Ethereum ecosystem: DeFi builders, core devs, L2 founders, cypherpunks, investors, institutions, and researchers. People who care deeply about Ethereum’s future, protecting its core properties, and bringing them to the world. We are coming together to accelerate the next wave of Ethereum adoption by contributing to critical core R&D and building new infrastructure and products where the ecosystem needs them most. We are incredibly grateful to be supported by @BitMNR, @Sharplink, @ethereumJoseph, @snzholding, and more than 50 others across Ethereum.

INTERVIEW: @CryptoHayes - The AI Crash That Could Send bitcoin:native to $1M Arthur thinks the AI trade is sucking the oxygen out of crypto, and the real opportunity may come after the AI bubble cracks. Inside the episode: - AI CapEx mania - Why ethereum:native looks cheap - Oil as the macro bear case - “The Fed can’t print Moore’s Law” - How an AI credit event could send money back into crypto - Why @HyperliquidX can challenge @binance - Why the inventor of perps says not to use leverage --- 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

.@TrustlessState bought tickets to a @FIFAWorldCup game on one condition: “There’s like an 85% chance that that’s @Argentina versus someone.” If Argentina doesn’t make it? “I could hedge it. I could hedge it on @Polymarket .”

WEEKLY ROLLUP: Saylor Risk? | Warsh’s New Fed | SpaceX IPO | Coinbase’s Everything Exchange Equities are rallying, but bitcoin:native is breaking down. @TrustlessState and @tomhschmidt unpack @saylor's $STRC stress, Warsh’s first FOMC, @SpaceX's mega-IPO, @jito_sol's breakout, @coinbase' Everything Exchange, and why perps may be crypto’s next real growth engine. [TIMESTAMPS] 0:00 Intro 3:07 Equities Up, Crypto Down: STRC Stress - @PeterSchiff - @zackvoell - @R89Capital - @jdorman81 11:21 First FOMC with Kevin Warsh 16:35 SpaceX Becomes One of the World’s Most Valuable Companies 25:43 Mover of the Month: JTO 31:01 Coinbase System Update - @oost_marcel - @coinbase 37:42 @Anchorage Brings @HyperliquidX to Institutions - @nathanmccauley 46:23 Blockworks Acquires @MessariCrypto - @blockworks 50:40 UK Moves to Ban Social Media for Children - @keir_starmer 57:50 @Polymarket World Cup Trade 59:50 Closing & Disclaimers

“The implosion of the AI bubble… is going to dwarf subprime.” @CryptoHayes thinks the next crypto leg higher won’t come from AI winning. It comes from AI capital misallocation breaking the system, forcing another wave of money printing, and sending investors back to crypto. His target? “ bitcoin:native a million ”

Bankless @Bankless

2 weeks ago

EARLY ACCESS: "The Fed Can't Print Moore's Law" - @CryptoHayes 🟢 Out now for Bankless Premium subscribers 📅 Out on public feeds Monday, June 22 Sign up for early access & the ad-free version now 👇 bankless.com/podcast/how-th…

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INTERVIEW: How Re is Rebuilding the $1T Reinsurance Market with Stablecoins | Karn Saroya & Avichal Garg @re is bringing the $1T reinsurance market onchain. Founder @karnsaroya and @ElectricCapital's @avichal join @TrustlessState 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. [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

NEW REPORT: Bitcoin’s Bottom Case, ETF Outflows & The No-Buyers Problem bitcoin:native may be in the buy zone, but the demand signal still looks weak. @JustDeauIt and @TrustlessState debate whether the bottom is already in, why ETF outflows and muted buyer interest matter, what realized losses and realized cap are signaling, and whether BTC needs one more painful reset before the next real opportunity. [TIMESTAMPS] 0:00 Intro 2:01 Pain, Patience, & Cycles 5:03 Shallower Drawdowns? 7:22 ETF Flows and Demand 9:34 @saylor's Canary 15:32 Realized Losses Review 23:00 Bitcoin Versus Nasdaq 25:23 AI Bubble Meets Crypto 28:37 Oil, War, & Inflation 33:25 @HyperliquidX Market Split 38:28 $LIT & $WLD Momentum 40:42 Pro Portfolio Playbook

Full article here: bankless.com/read/news/illi…

NEWS: ILLINOIS PASSES "PRIVILEGE TAX" ON CRYPTO TRANSACTIONS IL Gov. Pritzker signed SB 3019, creating a 0.2% tax on digital asset business activity starting next year. Taxable activity may include customers sending assets to an exchange or exchanges moving assets. What remains unclear is whether the law reaches self-custody: transfers between wallets controlled by the same person, transactions through software wallets like MetaMask or Rabby, or DeFi interactions routed through smart contracts.