Bankless

Crypto speculation is back, but is this really a new bull phase? Ryan and David unpack the altcoin surge, Treasury’s escalating bond-market fight, Robinhood’s tokenized stock boom, and the OpenAI controversy raising new questions about AI, privacy, and ownership.

---

📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24

https://bankless.cc/spotify-premium

---

BANKLESS SPONSOR TOOLS:

🔓 NEAR | TRADE CONFIDENTIALLY, GET 20% BACK

https://bankless.cc/near2026

🎯 THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

👑 BANKLESS CONTENT MCP

https://www.bankless.com/premium

---

TIMESTAMPS & RESOURCES

0:00 Intro

2:03 Altcoin Season & Degen Debasement Trade

https://www.tradingview.com/symbols/BTC.D/

https://x.com/JustDeauIt/status/2095608847381733386

16:00 Treasury vs. The Bond Market

https://x.com/KobeissiLetter/status/2097708859531923682

https://x.com/KobeissiLetter/status/2097719382533177507

https://x.com/uncnooman/status/2097579298181853548

https://x.com/Hedgeye/status/2098029288092013024

https://x.com/Hedgeye/status/2098045985926914317

https://x.com/KobeissiLetter/status/2097746862463955076

http://pbs.org/newshour/politics/watch-trump-promises-5000-dividend-for-americans-if-gop-wins-midterms

27:31 Robinhood Chain & AMC’s Tokenized Stock War

https://x.com/0xcarlosg/status/2096919808235208766

https://x.com/uttam_singhk/status/2096903386168021033

https://x.com/Pumpfun/status/2097785975434846285

https://x.com/haydenzadams/status/2095874039927509161

https://x.com/haydenzadams/status/2095932954417451020

https://x.com/CEOAdam/status/2095622531524784212

https://x.com/vladtenev/status/2095711439810159027

https://x.com/CEOAdam/status/2095761359388520460

https://x.com/Ryan__Rigg/status/2097744223269188000

https://x.com/TrustlessState/status/2098063002205659638

40:12 OpenAI Math & Privacy Controversy

https://x.com/OpenAI/status/2097374640582668336

https://x.com/OpenAI/status/2097375276384567642

https://x.com/hosseeb/status/2097217378753106336

https://x.com/TrustlessState/status/2097396382982340783

52:30 Hunter Biden’s LAPTOP Memecoin

https://x.com/WatcherGuru/status/2097696366596071825

https://x.com/HunterBiden/status/2097790749861638547

55:00 MetaMask Split & Ethereum’s Smart Wallet Future

https://x.com/MetaMask/status/2097689508187680794

https://www.theblock.co/news/business/2026-09-09-consensys-splits-metamask-institutional-ethereum-infrastructure-businesses-414022

https://x.com/TrustlessState/status/2097054140350554620

https://x.com/VitalikButerin/status/2096370186094076098

https://x.com/ethlabs_org/status/2097838222621446629

https://www.theblock.co/news/ecosystems/2026-09-08-ethereum-foundation-quantum-resistance-2029-413716

1:03:24 Clarity Act’s Do-or-Die Vote

https://www.theblock.co/news/regulation/2026-08-08-majority-leader-thune-files-cloture-on-clarity-act-setting-up-sept-15-senate-vote-411211

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

What if the most interesting crypto investments of the next cycle aren’t new blockchains at all? RockawayX Liquid founder Austin Barack joins David to explain why his attention has shifted toward a small group of applications with real users, rapidly growing revenue, and increasingly explicit token value capture.

---
📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24
https://bankless.cc/spotify-premium

---
BANKLESS SPONSOR TOOLS:

🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK
https://bankless.cc/near2026

🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner
https://bankless.cc/bitkey

🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

👑BANKLESS CONTENT MCP
https://www.bankless.com/premium

---
TIMESTAMPS

0:00 Finding Growth and Value in Crypto
4:17 Why Liquid Tokens Are Winning His Attention
7:00 How Austin Values Venice and VVV
15:34 The Biggest Bet in the Venice Model
24:53 Can Venice Balance Growth and Token Value?
32:53 Venice Growth and the OpenRouter Signal
37:31 Can Fundamental Tokens Outperform the Crypto Cycle?
43:50 Pump, Hyperliquid and EtherFi
48:57 EtherFi’s Shift Into a Neo Brokerage
58:24 Why the Market Discounts Pump
1:02:42 The Next Era of Crypto

---
RESOURCES

Austin Barack
https://x.com/AustinBarack

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures

Robinhood Chain is exploding as memecoins collide with tokenized stocks and Haseeb thinks the whole thing may end badly. Ryan and Haseeb unpack the new casino economy, Saylor’s Bitcoin comeback, Solana’s issuance cut, and the latest AI safety scare.

---

📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24

https://bankless.cc/spotify-premium

---

BANKLESS SPONSOR TOOLS:

🔓 NEAR | TRADE CONFIDENTIALLY, GET 20% BACK

https://bankless.cc/near2026

🔑 BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner

https://bankless.cc/bitkey

📊 BITGET | TOKENIZED STOCKS 2.0

https://bankless.cc/bitget-stocks

🎯 THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

👑 BANKLESS CONTENT MCP

https://www.bankless.com/premium

---

TIMESTAMPS & RESOURCES

0:00 Intro

2:32 Macro Bounce & Treasury-Fed Tug-of-War

https://x.com/exec_sum/status/2095153582819414237

https://www.cnbc.com/2026/09/01/bessent-trump-bond-yields-g20.html

https://x.com/0xVirtanen/status/2095121085079462032

https://x.com/hosseeb/status/2095008393434108373

12:41 Saylor’s Bitcoin Comeback

https://x.com/saylor/status/2095524315936530834

https://x.com/Strategy/status/2094396231866777976

https://x.com/AIGOLDOfficial/status/2095360679226364361

https://x.com/AltcoinPro_/status/2095319252769366525

17:35 Robinhood Meme & Stock Token Mania

https://x.com/MikeIppolito_/status/2095210343244894659

https://x.com/MikeIppolito_/status/2095211833124639103

https://x.com/haydenzadams/status/2095261533236252831

https://x.com/nansen_ai/status/2095350826047049942

https://x.com/nansen_ai/status/2095350856610926677

https://x.com/hosseeb/status/2095539969297404266

31:41 Ethereum, Solana & the Issuance Vote

https://x.com/LorenzoARK/status/2094517633122979994

https://x.com/web3_data/status/2095054796344406404

https://x.com/0xcarlosg/status/2095444848551633401

https://x.com/P2Pvalidator/status/2094363684361388089

https://x.com/stevenzeiler/status/2094908384789123200

https://x.com/mert/status/2093359812633616577

46:52 21 Banks Chase Stablecoins

https://www.reuters.com/business/finance/goldman-sachs-bofa-others-plan-issue-dollar-stablecoin-together-2027-2026-09-01/

50:44 KYC Breach Fallout

https://krebsonsecurity.com/2026/09/fbi-probes-service-selling-153m-drivers-licenses/

https://x.com/ErikVoorhees/status/2095319741716193431

https://x.com/rstormsf/status/2095331699672732122

56:56 Astra Raises AI Alarms

https://venturebeat.com/technology/welcome-to-the-agi-era-openai-launches-gpt-6-astra

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

What if the answer to NFT liquidity looked more like opening a Pokémon pack than trading on a traditional marketplace? FWA creator Adam “Rhynotic” joins David Hoffman and Eric Conner to unpack Fake World Assets, an Ethereum protocol combining random NFT pulls, ETH-backed liquidity and permissionless market infrastructure. They explore why FWA has made NFTs fun again, how its unusual pricing and buyback mechanics work, the FWA token, custom pools and FWAR's new approach to NFT launches.

---
📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24
https://bankless.cc/spotify-premium

---
BANKLESS SPONSOR TOOLS:

🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK
https://bankless.cc/near2026

🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner
https://bankless.cc/bitkey

🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

👑BANKLESS CONTENT MCP
https://www.bankless.com/premium

---
TIMESTAMPS

0:00 What Is Fake World Assets?
1:38 Making NFTs Fun Again
3:55 How the FWA Pool Works
8:42 Why Eric Is Bullish on FWA
13:20 A Liquidity Layer for NFTs
16:00 From NFTs to Real-World Assets
20:13 Pricing, Buybacks and Incentives
28:36 Custom Pools and New NFT Markets
31:57 The FWA Token
39:06 FWAR and a New Way to Launch NFTs
48:47 What Comes Next for FWA
50:12 Multichain FWA and the Bigger Vision
54:46 Closing Thoughts

---
RESOURCES

Adam (Rhynotic)
https://x.com/Rhynotic

Eric Conner
https://x.com/econoar

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures

Kalshi’s ambition extends far beyond winning prediction markets. It wants to become the largest exchange on Earth. John Wang joins David to explain Kalshi’s regulated crypto-perps push, upcoming gold and silver markets, international expansion, and the strategy for turning retail event contracts into serious institutional hedging infrastructure.

---
📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24
https://bankless.cc/spotify-premium

---
BANKLESS SPONSOR TOOLS:

🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK
https://bankless.cc/near-pod

🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner
https://bankless.cc/bitkey

🎯THE DEFI REPORT | ONCHAIN INSIGHTS
https://thedefireport.io/bankless

👑BANKLESS CONTENT MCP
https://www.bankless.com/premium

---
TIMESTAMPS

0:00 Is Kalshi a Crypto Company?
3:56 Global Expansion and the Regulated Edge
14:55 The Regulated Perps Bet
21:38 Combining Perps and Predictions
27:51 The Insider Trading Problem
38:50 Who Owns Market Information?
45:58 From Sportsbooks to the CME
55:24 Prediction Markets for Institutions
1:02:40 Kalshi Versus Polymarket

---
RESOURCES

John Wang
https://x.com/j0hnwang

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures