TL;DR
Ryan and David kick off the latest Bankless episode unpacking Bitcoin’s 15-year low against gold, debating if that’s a buy signal or a warning tied to shifting liquidity, rate whispers and Trump’s surprise Fed pick, and whether we’re facing a shallow cycle instead of a full crypto winter.
They also spotlight Ethereum’s new Fusaka upgrade and Vitalik’s push to get builders back on L1, Polymarket’s U.S. debut alongside CNN–Kalshi news, Aztec’s 16K ETH privacy auction, the SEC’s upcoming innovation exemption, and a surprising alignment between Larry Fink’s BlackRock and Brian Armstrong’s Coinbase.
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