Bankless

Crypto prices are down, but the most important players are still building. In this week’s Weekly Rollup, Ryan and David break down Coinbase’s push to become a financial super app, JPMorgan’s first tokenized money market fund on Ethereum, and why regulators are quietly opening the door for onchain settlement through DTCC pilots.They also unpack Solana’s Firedancer finally going live, the growing fight over tokenholder rights at Aave and what Uniswap’s unification proposal gets right, and why tokenization and prediction markets are advancing faster than prices suggest.---📣M0 | THE UNIVERSAL STABLECOIN PLATFORMhttps://bankless.cc/m0 ---BANKLESS SPONSOR TOOLS:🔵COINBASE | ETH & BTC BACKED LOANShttps://bankless.cc/coinbase-borrow🪙FRAXNET | MINT, REDEEM, & EARNhttps://bankless.cc/fraxnet🦄UNISWAP | CONTINUOUS CLEARING AUCTIONShttps://bankless.cc/uniswap-cca🛞MANTLE | GLOBAL HACKATHON 2025https://bankless.cc/mantle-hackathon💤EIGHT SLEEP | IMPROVE YOUR SLEEPhttps://bankless.cc/eight-sleep---TIMESTAMPS & RESOURCES0:00 Intro2:14 Marketshttps://www.google.com/finance/beta/quote/BTC-USD?hl=en&window=1Y&comparison=SOL-USD%2CETH-USD&type=linehttps://www.coindesk.com/markets/2025/12/12/barclays-sees-down-year-for-crypto-in-2026-without-big-catalystshttps://www.nbcnews.com/business/economy/cpi-november-inflation-rate-rcna249847https://x.com/0xNonceSense/status/2000561186497233247 https://x.com/leshka_eth/status/200073846795396736212:38 Bankless Announcementshttps://x.com/Bankless/status/2001694903084937469https://www.bankless.com/ico-watch/https://x.com/JustDeauIt/status/200138042432989200920:12 Coinbase System Updatehttps://x.com/i/broadcasts/1BRJjgWpwwpxw https://www.coinbase.com/ccmhttps://dune.com/entropy_advisors/robinhood-stock-tokenshttps://www.coinbase.com/prediction-marketshttps://app.morpho.org/base/borrowhttps://swap.cow.fi/#/1/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/GOOGLON37:50 Aave Drama, v4 & the 2026 Master Planhttps://governance.aave.com/t/aave-cowswap-integration-tokenholder-questions/23530https://x.com/aave/status/1996591393817473247https://x.com/DefiIgnas/status/1999728596626342177https://www.circle.com/blog/circle-signs-agreement-to-acquire-interop-labs-team-intellectual-propertyhttps://x.com/howdymerry/status/1991932582938943798https://x.com/haydenzadams/status/2001566377656602705https://x.com/StaniKulechov/status/2001036446098919461https://x.com/RyanSAdams/status/200130390344746647647:20 Solana BreakPointhttps://x.com/solana/status/1999399841957576741https://x.com/phantom/status/1999442547039756491https://x.com/jerallaire/status/2000926577727562023https://x.com/theoneandomsy/status/199965484560771074952:48 SEC says DTCC can tokenize stockshttps://x.com/Snapcrackle/status/1999389068321300814https://www.youtube.com/watch?v=CS5cDEyEf38https://www.dtcc.com/news/2025/december/17/dtcc-and-digital-asset-partner-to-tokenize-dtc-custodied-us-treasury-securitieshttps://www.coingecko.com/en/coins/canton57:06 JPMorgan launched their first ever tokenized money market fund - Ethereumhttps://x.com/ethereum/status/200066592859852401457:56 Do Kwon was sentenced to 15 years in prison https://x.com/zoomerfied/status/199923716236188886959:43 New York Times put out another anti-crypto piece https://x.com/intangiblecoins/status/2000334663479447557https://x.com/EricBalchunas/status/20005734280933418651:01:23 Netflix announced new Bitcoin comedy https://x.com/BitcoinArchive/status/19994910034518675151:03:02 Closing & Disclaimers ---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures

Trading is no longer just a financial activity; it has become a spectator sport. In this episode, Threadguy explains how Gen Z’s internet-native fluency, built through sneaker markets, NFTs, and meme cycles, translates into a new kind of market intuition: attention, momentum, and mimetics. We delve into “Entertainment Finance,” where perps, prediction markets, and live trading are starting to resemble streaming and esports more closely than Wall Street. Along the way, we explore why “internet capital markets” may pull everything on-chain over time, what happens when every asset becomes content, and why creators and traders will keep pushing into the open frontier.---📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔵COINBASE | ETH & BTC BACKED LOANShttps://bankless.cc/coinbase-borrow🪙FRAXNET | MINT, REDEEM, & EARNhttps://bankless.cc/fraxnet🦄UNISWAP | CONTINUOUS CLEARING AUCTIONShttps://bankless.cc/uniswap-cca🛞MANTLE | GLOBAL HACKATHON 2025https://bankless.cc/mantle-hackathon💤EIGHT SLEEP | IMPROVE YOUR SLEEPhttps://bankless.cc/eight-sleep---TIMESTAMPS0:00 Threadguy: “Gen Z crypto face”2:58 Sneaker Twitter: trade-first upbringing8:03 Onboarding via social proof13:08 Two Gen Z money paths16:53 Crypto as opportunity engine20:38 Why he won’t leave crypto23:35 Media growth and infinite TAM29:31 Entertainment finance: markets as content37:28 Risk takers become “athletes”42:27 PVP arcs and downfall appetite44:25 Trading mimetics: valuation doesn’t matter49:53 One internet note, spills to equities55:15 Counterparty: home for internet markets58:40 Token launch replaces IPO1:02:38 Where to follow + content grind---RESOURCESThreadguyhttps://x.com/notthreadguyThreadguy’s Twitchhttps://www.twitch.tv/threadguy---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures

The Fed cut rates and announced $40B/month in T bill purchases. Is that the signal to buy back into crypto? Mike says no. In this episode, we explain why “QE light” is not real easing, the key indicators Mike needs before flipping risk on, and what Bitcoin’s onchain market structure suggests about where this cycle could go next.----📣THE DEFI REPORT | FOLLOW & SUBSCRIBEhttps://thedefireport.transistor.fm/https://thedefireport.io/https://x.com/the_defi_reporthttps://x.com/JustDeauIt----TIMESTAMPS0:00 Introduction to the DeFi Report2:28 Current Market Positioning9:25 Federal Reserve's Actions Explained13:13 Economic Conditions & Predictions18:35 Big Picture of Economic Strategy23:17 Analyzing Bitcoin's Market Structure29:57 Closing & Future Outlook----Not financial or tax advice. For educational purposes only.

Bitwise’s Matt Hougan and Ryan Rasmussen return with 10 big predictions for 2026.From the case for $1M BTC (and why the classic four-year cycle may be dead) to a world where ETFs soak up more than 100% of new BTC/ETH/SOL supply.We get into Bitcoin volatility vs. mega-cap tech, crypto equities vs. tech equities, and why Polymarket could smash past its 2024 election-era highs.Plus: stablecoins as an “escape valve” that emerging economies may blame for currency stress, on-chain also known as “ETFs 2.0,” and how the Clarity Act could be the starter’s gun for ETH and SOL to run.------📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium------BANKLESS SPONSOR TOOLS:🔵COINBASE | ETH & BTC BACKED LOANShttps://bankless.cc/coinbase-borrow🪙FRAXNET | MINT, REDEEM, & EARNhttps://bankless.cc/fraxnet🦄UNISWAP | CONTINUOUS CLEARING AUCTIONShttps://bankless.cc/uniswap-cca🛞MANTLE | GLOBAL HACKATHON 2025https://bankless.cc/mantle-hackathon💤EIGHT SLEEP | IMPROVE YOUR SLEEPhttps://bankless.cc/eight-sleep💤EIGHT SLEEP | IMPROVE YOUR SLEEPhttps://bankless.cc/eight-sleep------TIMESTAMPS0:00 Last Year Predictions13:12 1. Bitcoin Breaks 4-Year Cycle16:19 2. BTC Less Volatile Than NVDA22:09 3. ETFs Purchasing New Supply of Crypto30:02 4. Crypto Equities Outperforming Equities37:23 5. Prediction Markets All-Time Highs42:50 6. Stablecons Destabilizing Currencies48:16 7. Onchain Vaults Doubling in AUM52:56 8. Clarity Act Triggering ETH & Sol All-Time Highs56:40 9. Ivy League Endowments Investing in Crypto58:49 10. 100+ Crypto ETPs Launching1:01:14 Bitwise Announcement1:04:08 Bonus. Bitcoin Equity Correlation Falling1:07:29 Progress in 20251:10:48 Cross-Generational Wealth Transfer?1:13:02 Closing Thoughts & Disclaimers------RESOURCESMatt Houganhttps://x.com/Matt_Hougan Ryan Rasmussenhttps://x.com/RasterlyRock Bitwisehttps://bitwiseinvestments.com/ ------Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures⁠ 

AI is becoming the most powerful surveillance machine ever built and most people are feeding it their deepest secrets without realizing who can read them. Proton founder Andy Yen joins Bankless to explain how Big Tech captures your identity, why AI chat logs are a privacy disaster waiting to happen, and what a self-sovereign, user-aligned future could look like.We explore how AI models profile you, why subscription business models don’t guarantee privacy, how Proton built Lumo without retaining user data, and why encrypted email remains the cornerstone of your digital identity. Andy also breaks down EU “chat control,” Apple’s privacy-washing, the crisis of trust in crypto, and the practical steps anyone can take today to reclaim their digital freedom.---📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24https://bankless.cc/spotify-premium---BANKLESS SPONSOR TOOLS:🔵COINBASE | ETH & BTC BACKED LOANShttps://bankless.cc/coinbase-borrow🪙FRAXNET | MINT, REDEEM, & EARNhttps://bankless.cc/fraxnet🦄UNISWAP LABS | SWAP NOWhttps://bankless.cc/uniswap-labs🛞MANTLE | GLOBAL HACKATHON 2025https://bankless.cc/mantle-hackathon💤EIGHT SLEEP | IMPROVE YOUR SLEEPhttps://bankless.cc/eight-sleep---TIMESTAMPS0:00 Intro2:18 Why Privacy Matters More Than Ever3:24 How Screwed Are We? Andy’s 1–10 Privacy Score5:43 Who Can Read Your AI Chats?12:22 Worst-Case Scenarios: AI Breaches & Behavioral Profiles15:08 AI Knows You Better Than You Know Yourself16:55 Privacy as a Digital Civil Liberty20:26 Can Big Tech Ever Offer Real Privacy?26:28 Why Lumo AI Can Be Private (and Big Tech Won’t Copy It)31:08 What Lumo Runs On & How It Competes With Frontier Models35:45 The Case for a Self-Sovereign AI38:46 How Proton’s Foundation Model Really Works45:47 Can Private AI Be Sustainable?49:47 The Full Proton Privacy Stack54:59 The Messy State of Encrypted Chat Apps58:49 Browsers, Search, and the Dark Patterns of AI Integration1:02:53 Are iPhones Actually Private?1:12:42 The Fight Over Encryption: EU Chat Control & Beyond1:26:08 “A Backdoor for the Good Guys” — Why It Can’t Work1:29:42 Financial Privacy = Freedom1:32:58 Crypto’s Reputation Problem1:39:24 Practical Privacy: The One High-Leverage Step1:45:15 Two Futures: One Dark, One Bright---RESOURCESAndy Yenhttps://x.com/andyyen---Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures