ROLLUP: Bitcoin Dominance Hits 66% | Circle IPO 10x | Robinhood Flips Coin? | Kalshi vs Polymarket
This week, David and guest co-host Tom Schmidt (Dragonfly) unpack a deceptively quiet crypto market with Bitcoin dominance hitting 66% and altcoins eerily still. What meta could flip the trend?
They dive into Circle’s explosive 10x IPO, Robinhood’s surprise crypto surge, and why Coinbase is finally catching up. Plus: the Kalshi vs. Polymarket drama, ICOs creeping back, and how meme coins might soon help you get a mortgage.
Also: Vitalik’s Layer 1 pivot, prediction markets heating up, and signs of a new retail cycle forming.
Tom Schmidt & Chopping Block
https://x.com/tomhschmidt
https://x.com/_choppingblock
https://x.com/dragonfly_xyz
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🌐SELF | PROVE YOUR SELF
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🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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TIMESTAMPS & RESOURCES
0:00 Intro
0:46 Tom’s crypto vibe check
1:50 Markets
26:53 Kalshi Series C
https://x.com/tomhschmidt/status/1937957381197185165
https://www.wsj.com/finance/prediction-market-kalshi-hits-2-billion-valuation-in-new-funding-round-2d0c8b4c
https://x.com/tomhschmidt/status/1937957381197185165
https://x.com/hosseeb/status/1938065110351716707
36:50 US regulator orders Fannie Mae, Freddie Mac to consider crypto for mortgages
https://x.com/pulte/status/1937944964656152800
https://x.com/crypto_bobby/status/1937951968619639046
43:44 Ethereum
https://x.com/TrustlessState/status/1936037598805590364
49:04 What Tom’s excited about
53:01 Closing & Disclaimers
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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53:34
The Stablecoin King | Tether CEO Paolo Ardoino on GENIUS Act, Circle IPO, Bitcoin & Tether to Trillions
Tether CEO Paolo Ardoino returns to Bankless at a historic moment for stablecoins.
With the Genius Act advancing in the U.S. Congress, Paolo discusses what regulatory clarity means for Tether, the future of USDT, and the company’s plans to launch a domestic stablecoin.
We explore the Circle IPO hype, Tether’s eye-popping profits, its growing presence in the U.S. Treasuries and Bitcoin mining, and how grassroots distribution across emerging markets powers its dominance. Paolo also gives a glimpse into Tether’s ambitions in AI, tokenized gold, and the battle to distribute the dollar where banks can’t reach.
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🎬 DEBRIEF | Ryan & David Unpacking the Episode
https://www.bankless.com/podcast/debrief-the-stablecoin-king-tether-ceo-paolo-ardoino
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🌐CELO | BUILD TOGETHER AND PROSPER
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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TIMESTAMPS
0:00 Intro
5:32 GENIUS Act
12:54 Tether & The US
22:13 Domestic Competition
26:23 Circle IPO
23:36 Handling Pressure
28:32 Stablecoin Valuations
31:38 Winning the Next Chapter
36:52 USDT in Emerging Markets
41:58 Tether & Crypto Correlation
45:52 Tether Ventures
53:25 Tether Wallet?
56:44 Tether & Bitcoin
1:00:15 Other Assets
1:01:07 Bitcoin Mining
1:04:58 Tokenized Gold
1:09:01 GENIUS Act Consequences
1:12:27 Europe
1:14:49 Why Tether is Good
1:17:50 Closing & Disclaimers
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RESOURCES
Paolo Ardoino
https://x.com/paoloardoino
USDT Insights
https://usdt.network/
Tether
https://tether.io/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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1:16:08
ROLLUP: The GENIUS Act Passes | JP Morgan Stablecoin | Stablecoin Summer
Welcome to the Weekly Rollup, where we cover this week in Crypto. We unpack the implications of the Genius Act's passage, which positions the U.S. to lead in digital assets and spurs optimism around stablecoins potentially hitting a $3.7 trillion valuation by 2030. Also: JP Morgan’s surprising entry into the stablecoin market and Coinbase’s launch of new products, including a Bitcoin cashback credit card.
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🌐SELF | PROVE YOUR SELF
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🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS & RESOURCES
0:00 Intro
2:55 Markets
https://www.coingecko.com/en/coins/bitcoin
https://www.coingecko.com/en/coins/ethereum
8:00 ETFs
https://x.com/jseyff/status/1934591572710211587
https://x.com/cointelegraph/status/1933534615395815761
https://x.com/JSeyff/status/1933635898140192849
https://x.com/JSeyff/status/1935043249141322017
https://x.com/EricBalchunas/status/1932527239679095097
12:00 Macro
https://x.com/NickTimiraos/status/1935397119772217715
https://x.com/scottmelker/status/1935382005866189003
https://x.com/elerianm/status/1933505682625417521
https://www.ft.com/content/0d175cad-db7c-4dc2-83a8-90736f96f198
https://x.com/thomas_fahrer/status/1934056640476770678
https://x.com/treenewsfeed/status/1934589597394084071
https://x.com/erictrump/status/1934665029866881155
29:00 The GENIUS Act Passes the Senate
https://x.com/SenatorHagerty/status/1934942333859979279
https://x.com/SenatorHagerty/status/1935491670805754100
https://x.com/SecScottBessent/status/1935027160374210573
https://x.com/secscottbessent/status/1935404649718157691
https://polymarket.com/event/genius-act-signed-into-law-in-2025?tid=1750338903189
https://x.com/TFTC21/status/1935027661421822149
https://x.com/RyanSAdams/status/1935371112403116518
https://x.com/intangiblecoins/status/1935095696454984027
https://x.com/intangiblecoins/status/1933583236778578274
https://x.com/pete_rizzo_/status/1933484989334659136
https://x.com/CryptosR_Us/status/1935475419286798505
38:30 JPMorgan Stablecoin JPMD
https://x.com/tier10k/status/1934684065875284187
https://x.com/base/status/1935055475252543823
43:00 INK Kraken Token
https://x.com/inkonchain/status/1934992073024823560
https://x.com/DefiIgnas/status/1935274751322435769
44:50 EigenLayer announces EigenCloud
https://x.com/ethereum/status/1935010523776430587
https://x.com/ViktorBunin/status/1934969360851857532
https://x.com/sreeramkannan/status/1935028483044032921
https://youtu.be/P2PGQIe9U6g?si=Q6ZZPy9KzyPQLBaA
47:43 Blockworks Token Transparency Framework
https://x.com/Blockworks_/status/1935321626788380714
50:10 Coinbase Product Launches
https://x.com/brian_armstrong/status/1933290398799065459
https://x.com/tier10k/status/1933238313567080716
https://x.com/tier10k/status/1933238313567080716
https://x.com/CoinbaseBiz/status/1933228168783278110
https://x.com/vivek4real_/status/1933230638842232989?s=46
https://blog.base.dev/commerce-payments-protocol
https://www.reuters.com/business/coinbase-seeking-us-sec-approval-offer-blockchain-based-stocks-2025-06-17/
https://x.com/luke_metro/status/1934061707158081538
https://x.com/KafiSq8/status/1934026011898683724
58:30 Roman Storm’s Legal Defense
https://x.com/ethereumfndn/status/1933564840112435567
https://x.com/ethereumfndn/status/1894704611606385012
https://x.com/rstormsf/status/1933502107577168047
59:25 Stablecoin Summer vs The Plot
https://x.com/mrjasonchoi/status/1935555875013538229
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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The GENIUS Act Passes the Senate: Lead Sen. Bill Hagerty Discusses The US Stablecoin Bill
Today, we discuss the recently passed Genius Bill with Senator Bill Hagerty, a key architect behind the legislation aimed at stabilizing the U.S. stablecoin market. Following a significant bipartisan Senate vote of 68-30, Sen. Hagerty shares insights on the evolving congressional perception of cryptocurrency, moving from skepticism to support. The bill seeks to foster a regulatory environment that encourages innovation while protecting users and maintaining America’s leadership in financial technology. The episode also highlights the potential economic benefits of a strong stablecoin framework and addresses concerns regarding Central Bank Digital Currencies (CBDCs).
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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TIMESTAMPS
0:00 Introduction to the Genius Bill
5:43 Welcoming Senator Bill Haggerty
8:55 Next Steps for the Bill
11:16 Why America Needs Stablecoin Law
14:07 Fostering a Domestic Stablecoin Economy
15:23 Addressing Detractors of the Bill
18:06 Understanding Stablecoins vs CBDCs
20:27 Who Can Issue Stablecoins?
21:01 Path for Offshore Issuers
23:54 Surveillance Concerns with Stablecoins
26:10 Addressing the Trump Loophole
27:34 The Bipartisan Nature of Crypto
28:52 Senator Haggerty's Evolution on Crypto
32:17 Establishing a Clear Regulatory Framework
34:51 Future Steps for the Crypto Industry
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RESOURCES
Sen. Bill Hagerty: https://x.com/SenatorHagerty
The GENIUS Act: https://www.congress.gov/bill/119th-congress/senate-bill/394/text
Sec. Bessent’s Tweet: https://x.com/SecScottBessent/status/1935027160374210573
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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LIMITLESS: U.S. vs China's Race to Superintelligence | Jeremie & Edouard Harris
In this episode, Jeremie and Edouard Harris, co-founders of Gladstone AI and national security advisors, join us to break down the real score in the U.S.–China AI race.
We unpack what it actually means to “win” in AI: from cutting-edge model development and compute infrastructure to data center vulnerabilities, state-sponsored espionage, and the rise of robotic warfare. The Harris brothers explain why energy is the hidden battleground, how supply chains have become strategic liabilities, and why export controls alone won’t save us.
This is not just a geopolitical showdown - it’s a race for superintelligence, and the clock is ticking.
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TIMESTAMPS
0:00 Intro
1:05 AI race: who's ahead?
4:41 Framing AI as an arms race
12:58 Gov't awareness of AI conflict
20:38 AI reports feel like sci-fi
24:44 China vs US: model race
29:11 Shift to inference-time compute
31:19 China’s software vs US hardware
34:28 Open vs closed source politics
38:56 China’s energy dominance
43:32 America’s electric grid lag
47:55 Supply chain vulnerabilities
56:30 US chipmaking onshoring
1:01:08 U.S. lead in chips
1:04:00 DUV vs EUV bottlenecks
1:08:26 Manufacturing gap in robotics
1:11:53 Fear vs optimism in culture
1:17:26 Coordination vs dynamism
1:22:10 Bot-driven opinion warfare
1:25:58 China pushing degrowth narratives?
1:29:05 National security recommendations
1:33:36 Co-op or conflict endgame?
1:37:27 Closing
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RESOURCES
Jeremie Harris
https://x.com/jeremiecharris
Edouard Harris
https://x.com/harris_edouard
America’s Superintelligence Project
https://superintelligence.gladstone.ai/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Australia