DeFi Slate

Robbie and Andy debate Morpho founder Paul Frambot's controversial take that token buybacks are "shooting yourself in the foot" versus the market's clear reward for programmatic buybacks from Hyperliquid, Lighter, and Pump. They break down Luca Prosperi's corporate finance framework for when buybacks make sense based on market conditions and return on equity, and make the case that too many projects launched tokens before they had a business generating enough revenue to justify one.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro02:56 Only 5% Of Tokens Qualify06:16 If You Need Growth, Skip The Token08:40 Lighter, Hyperliquid, Pump Lead Performance13:54 Programmable Vs Arbitrary Buybacks19:23 Applying This To The Rollup Itself22:45 Too Many Tokens Launched Too EarlyPartners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Space and Time is providing verifiable data infrastructure for onchain finance. A decentralized database, blockchain indexer, and ZK coprocessor in one, giving DeFi protocols,stablecoins, and tokenized assets accurate, provable data. Learn more here: https://www.spaceandtime.io/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Joseph Chalom and Kean Gilbert break down why SharpLink staked $200 million in ETH through Lido, making the case that unlike Bitcoin, Ethereum is a natively productive asset that treasury companies have a duty to put to work. They unpack why a proposal to cut Ethereum's staking issuance would undermine the risk-free rate anchoring DeFi lending and push institutions toward competitors like Solana, and explain why native yield is becoming the standard institutional playbook for ETH exposure.Joseph Chalom is the CEO of SharpLink, one of the largest corporate treasury holders of Ethereum. Kean Gilbert is the Head of Institutional Relations at Lido, the largest liquid staking protocol on Ethereum.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro05:41 Making ETH Fully Productive08:39 Ethereum's Issuance Reduction Proposal11:00 Why A Third Of ETH Stays Onchain14:01 Rise Of Institutional Staking Products19:19 Revenue And Token Value23:50 Fidelity Adds Ethereum Staking28:41 Permanent Capital Beats Trumps AllGuest Socials:Joseph Chalom X: https://x.com/joechalomSharplink X: https://x.com/SharplinkSharplink Website: https://www.sharplink.com/Kean Gilbert X: https://x.com/Kean_GilbertLido X: https://x.com/LidoFinanceLido Website: https://lido.fi/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Space and Time is providing verifiable data infrastructure for onchain finance. A decentralized database, blockchain indexer, and ZK coprocessor in one, giving DeFi protocols,stablecoins, and tokenized assets accurate, provable data. More here: https://www.spaceandtime.io/---Relay is the fastest and most reliable way to swap any token on any chain. More here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.More here: https://www.zama.org/---

Daryl Xu joins us to explain the biggest shift happening in AI. He introduces B3 IQ, a platform that lets anyone rent-to-own AI compute instead of relying on centralized API providers, and makes the case that using decentralized inference has a hidden cost most people overlook: your proprietary data. He also explains why inference demand keeps climbing even as GPU prices depreciate slower than expected.Daryl Xu is the Co-Founder and CEO of NPC Labs, a core contributor to the B3 ecosystem and creator of B3 IQ, an AI compute ownership platform.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro04:28 The Compute Ownership Thesis09:53 B3's Evolution Into AI13:34 Own Your GPU, Own Your Data18:40 How GPU Owners Earn From AI22:34 Live Demo Of The Platform27:48 Who Are The Compute Customers?32:05 Why Inference Demand Keeps GrowingGuest Socials:Daryl Xu X: https://x.com/darylX24B3 Labs X: https://x.com/b3labsB3 Labs Website: https://b3labs.org/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Space and Time is providing verifiable data infrastructure for onchain finance. A decentralized database, blockchain indexer, and ZK coprocessor in one, giving DeFi protocols,stablecoins, and tokenized assets accurate, provable data. Learn more here: https://www.spaceandtime.io/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Bitwise's CIO Matt Hougan and Head of Research Ryan Rasmussen break down why institutional ETF investors kept buying through the summer's 50% drawdowns and explain why they expect the next bull market to look a lot different than previous ones. They also make the case that ETF flows are expanding, what institutional allocators really want to buy, and the long-term forecasts for top digital assets.Matt Hougan is the Chief Investment Officer at Bitwise, and Ryan Rasmussen is the Head of Research at Bitwise, one of the largest digital assets asset managers with a suite of digital asset ETFs spanning Bitcoin, Ethereum, Solana, and beyond.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro01:00 Market Structure Shifting03:01 Is The Four Year Cycle Compressing?08:07 Positive ETF Flows Since July 1st13:55 Why Institutions Buy Majors, Not Apps (Yet)15:21 Digital Asset Natives See A Different Opportunity18:05 Bitcoin Starting To Trade Like Gold20:42 Institutions Are Getting Sophisticated Now30:59 Hyperliquid & Zcash Bull Thesis37:04 Memes Aren't Sustainable Guest Socials:Matt Hougan X: https://x.com/Matt_HouganRyan Rasmussen: https://x.com/RasterlyRockBitwise X: https://x.com/BitwiseBitwise Website: https://bitwiseinvestments.com/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Space and Time is providing verifiable data infrastructure for onchain finance. A decentralized database, blockchain indexer, and ZK coprocessor in one, giving DeFi protocols,stablecoins, and tokenized assets accurate, provable data. ---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Edward Woodford, CEO of zerohash breaks down their new Visa Direct partnership, which lets Visa move value instantly across its 12 billion endpoints in over 190 countries using stablecoins. He explains how zerohash quietly powers stablecoin infrastructure for Stripe, Morgan Stanley, and BlackRock's BUIDL fund. He also makes the case that stablecoins are just the first tokenized asset class, and that the real transformation begins once tokenized equities and deposits build on the same rails. Welcome to the future of finance.Edward Woodford is the Founder and CEO of zerohash, a stablecoin and digital asset infrastructure company powering major financial institutions including Visa, Stripe, and Morgan Stanley.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro02:41 How zerohash Works Underneath04:43 The Visa Direct Partnership07:28 Monetary Velocity Onchain Accelerating09:33 Distribution Is The Real Metric13:38 What Actually Drove Growth16:52 BlackRock's BUIDL Partnership ExpandsGuest Socials:Edward Woodford X: https://x.com/e_woodfordZerohash X: https://x.com/zerohashxZerohash Website: https://zerohash.com/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Matthew Sigel breaks down why the AI buildout looks more like the 19th-century railroad boom than a bubble about to pop, comparing capital scale, financing structure, and multiyear purchase order backlogs. He also explains why VanEck has gone underweight major L1s like Solana in favor of corporate chains from Circle, Stripe, and Robinhood, and why he believes a CLARITY Act relief rally could be "enormous" if disclosure requirements finally arrive.Matthew Sigel is the Head of Digital Assets Research at VanEck and Portfolio Manager of the VanEck Onchain Economy ETF (NODE), one of the most prominent actively managed funds focused on digital assets equities and infrastructure.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro06:41 Hyperscaler Debt Financing Shift09:20 Comparing AI To The Railroad Boom13:34 Why This Buildout Feels Different15:46 Railroad Boom's Government Backing20:47 Corporate Chains Are Winning22:52 CLARITY Would Spark A Relief RallyGuest Socials:Matthew Sigel X: https://x.com/matthew_sigelVanEck X: https://x.com/VanEck_usVanEck Website: https://www.vaneck.com/corp/en/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Jesse Pollak joins us on CLARITY week to break down how Base is leading in trading, onchain finance, and payments. He also explains how x402 agentic payments and tokenized inference are turning Base into the settlement layer for AI agents, something we've been excited about for a while. He also gives a real update on the long-awaited Base token, Ethereum and the scaling Base is bringing, and also explains why he's optimistic the CLARITY Act passes and accelerates adoption even further in 2026.Jesse Pollak is the Creator of Base, Coinbase's Ethereum Layer 2 network powering trading, payments, financing, and the fastest-growing agentic commerce ecosystem in digital assets.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro03:39 Trading, Onchain Finance & Payments06:06 Memecoins Meet Real Utility09:05 Tokenized Inference Takes Off on Base12:06 x402 Agentic Payments Explode14:35 Cobie's Influence On Trading20:25 CLARITY Act Ripple Effect Explained23:19 Base Token UpdateGuest Socials:Jesse Pollak X: https://x.com/jessepollakBase X: https://x.com/baseBase Website: https://www.base.org/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

CLARITY final countdown special today on the show.We're getting the legal, investor, builder, and the onchain business-impact angles in today's show.00:00 Intro05:10 Equities Rally And Earnings Momentum09:01 SEC's Rulemaking Backup Plan10:44 Tokenized Deposits Explained17:48 Open USD And Permissioned Chains19:39 Base's Internet Exchange Vision21:23 Tokenizing Equities On Avalanche26:14 Wrapping Up Tokenization TowerPartners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Haseeb Qureshi breaks down why crypto markets have become numb to CLARITY Act headlines, and explains why Western Union partnering with Dragonfly portfolio company Rain signals stablecoins are already eating into legacy payment margins. He also makes the case that tokenized deposits are "basically uninteresting" compared to stablecoins, and questions whether Tempo's Open USD consortium is a real commitment or just a free option for its backers.Haseeb Qureshi is a Managing Partner at Dragonfly, a leading digital assets venture capital firm with investments spanning stablecoins, infrastructure, and consumer crypto applications.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Markets Are Sluggish 08:15 Western Union Bets On Rain12:23 Tokenized Deposits Vs Stablecoins17:56 Real Innovation Vs Fake Crypto23:13 Is Open USD Just A Free Option26:21 Stripe's Not Betting That Hard35:07 Why Rain Could Be EnormousGuest Socials:Haseeb X: https://x.com/hosseebDragonfly X: https://x.com/dragonfly_xyzDragonfly Website: https://www.dragonfly.xyz/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Cody Carbone breaks down the real vote count behind the CLARITY Act and explains why ethics has become "the whole ballgame" holding up trillions in potential capital inflows. He also draws parallels to the GENIUS Act's rocky path to passage, making the case that history says this bill still gets done.Cody Carbone is the CEO of The Digital Chamber, a leading blockchain advocacy organization working directly with lawmakers in Washington, DC to pass digital asset market structure legislation.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro03:05 The Path To 60 Votes05:07 Ethics Is The Whole Ballgame09:31 New Ethics Language Being Brokered11:57 History Shows Deals Get DoneGuest Socials:Cody Carbone X: https://x.com/CodyCarboneDCThe Digital Chamber X: https://x.com/DigitalChamberThe Digital Chamber Website: https://digitalchamber.org/Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at https://1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Eleanor Terrett breaks down the state of play on the CLARITY Act just before the August recess deadline, unpacking the ethics language dividing Democrats and Republicans and why the DOJ-versus-state-AG enforcement fight remains the key sticking point. She also explains why the Blockchain Regulatory Certainty Act has suddenly become just as contentious, pitting developer protections against law enforcement concerns.Eleanor Terrett is the Co-Founder and Co-Host of Crypto in America, a leading independent outlet covering digital assets policy and regulation in Washington, DC.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro04:28 The Ethics Provision Explained06:45 Why Democrats Say It's Not Enough09:22 60 Democrats Votes Needed11:24 The FTX Hangover Still Lingers14:26 BRCA's Developer Liability Fight17:10 Staking And Bank PushbackGuest Socials:Eleanor Terrett X: https://x.com/EleanorTerrettCrypto In America X: https://x.com/CryptoAmerica_Crypto In America Website: https://linktr.ee/cryptoinamerica_Partners: If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at 1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Vladimir Novakovski breaks down why both Lighter Core and Robinhood Chain sit on top of Ethereum, and how ZK proofs let market makers move capital between instances within minutes. He also previews a future where users simply describe their market thesis and let an AI agent execute the trade, plus options on pre-IPO stocks currently in the works. Finally, he lays out why the LIT token carries zero dual structure, it represents 100% of Lighter's equity, with all future value, including quarterly buybacks, accruing directly to token holders.Vladimir Novakovski is CEO of Lighter, a decentralized perp exchange built on top of Ethereum with an institutional-grade security-first architecture.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro04:23 Options & Pre-IPO Stocks Expansion 06:49 Robinhood And Telegram Partnerships09:58 Regulatory Parameters Per Lighter Perps Instance12:39 One Global Liquidity Layer16:18 The LIT Token Is The Equity21:13 CLARITY Revenue Sharing 24:39 Diversified Revenue Story28:27 Institutional Vs Retail Tracks31:44 Lessons From Citadel And SBF34:02 AI Agents Have Already Started TradingGuest Socials:Vladimir Novakovski X: https://x.com/vnovakovskiLighter X: https://x.com/Lighter_xyzLighter Website: https://lighter.xyz/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at 1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Sam Kazemian makes the case that there's no hidden "dead body" under this digital assets cycle, and he breaks down how GENIUS-compliant stablecoins could power instant business banking, from incorporation to payroll to DeFi, from day one. He also unpacks Frax's new banking partnership with Erebor and why he believes a handful of stablecoin consortiums could become "the next Visa network."Sam Kazemian is the Founder of Frax, a protocol behind frxUSD and one of the earliest and longest-running stablecoin projects in digital assets.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro02:34 No Big Dead Bodies In Crypto06:26 Instant Business Banking Onchain09:50 Frax's Erebor Banking Partnership15:55 Open USD Alliance Explained21:13 The Next Visa Network Is Forming25:46 Genius Compliant Or BustGuest Socials:Sam Kazemian X: https://x.com/samkazemianFrax Finance X: https://x.com/FraxFinanceFrax Finance Website: https://frax.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at 1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Rebecca breaks down the 600-page CLARITY Act, from its unprecedented ethics language to the extensive new rulemaking powers it hands regulators, and explains why full implementation could take years even after passage. She also unpacks hidden riders in the bill and a lesser-known fight brewing between prediction markets and the gaming industry.Rebecca Rettig is the COO at Jito Labs, a Protocol Labs company, and a veteran digital assets policy voice who previously worked on DeFi regulatory issues during the early days of centralized exchange dominance in Washington.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro04:36 Clarity's Unprecedented Ethics Language09:05 New Powers For Regulators11:32 Regulators Struggle With Rulemaking14:53 Treasury Defines DeFi Control21:28 Hidden Riders In The Bill25:30 Prediction Markets Vs Gaming IndustryGuest Socials:Rebecca Rettig X: https://x.com/RebeccaRettig1Jito Labs X: https://x.com/jito_labsJito Labs Website: https://www.jito.network/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at 1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Sergej Kunz breaks down 1inch's new Aqua protocol, built on research showing liquidity providers left over $150 million in fees on the table, and explains how it lets users earn yield without giving up custody, governance rights, or capital efficiency. He also traces 1inch's evolution from intent-based swaps and Fusion.Sergej Kunz is the Co-Founder of 1inch, a leading DeFi aggregator and liquidity infrastructure protocol he built starting from an Ethereum hackathon in 2019.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:13 The $150 Million Fee Leak02:34 1inch's Origin And Pathfinder04:11 Fusion And The Sandwich Attack Fix04:49 Fixing The Broken Bridge Space09:17 Compliance Without Mixing Liquidity11:40 Aqua's Incentive Program13:09 Liquidity That Never Leaves Your Wallet15:01 The Math Behind Optimal Fees18:22 Looping For 40x Efficiency23:09 One Wallet, Eight Venues25:53 85% Of Liquidity Sits Idle28:12 4x LP Fee Efficiency29:34 Aqua Incentives & Game TheoryGuest Socials:Sergej Kunz X: https://x.com/deacix1inch X: https://x.com/1inch1inch Website: https://1inch.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---If you run concentrated liquidity positions you know the grind. Price moves, you're out of range, you're rebalancing at, like, 3am. 1inch Aqua lets you take a different approach. You can stack multiple positions on the same token balance instead of babysitting a dozen pools, and your tokens never leave your wallet. Your liquidity stays awake, so you can catch up on your sleep. Check it out at 1inch.com/aqua---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---

Paul Frambot breaks down how Morpho's new Midnight protocol lets curators price risk directly, unlocking under-collateralized lending onchain for the first time, and explains why he believes DeFi is finally ready to capture a slice of the $200 trillion global credit market. He also makes the case against aggressive token buybacks, arguing that reinvesting in growth beats shrinking the float.Paul Frambot is the Founder and CEO of Morpho, a decentralized lending protocol powering onchain credit for Coinbase, Robinhood, and other major institutions.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:25 Unlocking The $200T Credit Market09:05 Midnight Unlocks Custom Loan Pricing11:32 Under-Collateralized Loans Become Reality18:30 Risk-Adjusted Markets Never Before Possible21:13 Token Value Vs Buybacks Debate34:21 Clarity Act Update From DCGuest Socials:Paul Frambot X: https://x.com/PaulFrambotMorpho X: https://x.com/MorphoMorpho Website: https://app.morpho.org/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Leo Fan breaks down why the real bottleneck in AI isn't model intelligence but a persistent GPU shortage driving up inference costs, even as open-source models from China close the gap. He also unpacks the financialization of compute and why some believe it could become one of the largest derivatives markets in the world.Leo Fan is the Founder of Cysic, a full-stack compute network turning GPUs, ASICs, and spare hardware into verifiable AI infrastructure, and a Cornell CS PhD researcher in zero-knowledge systems and AI.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro04:18 Kimi K2 Shocks Compute Demand06:39 GPU Shortage Drives Inference Costs11:34 Engineering Around Chip Gaps18:23 Compute Financialization20:48 Earning Yield From Spare Compute23:20 Compute Markets FutureGuest Socials:Leo Fan X: https://x.com/leofanxiongCysic X: https://x.com/cysic_xyzCysic Website: https://cysic.xyz/ Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Johann Kerbrat breaks down Robinhood Chain's explosive first three weeks and explains the strategy behind bringing tokenized equities, DeFi, and stablecoin yield onchain. He also unpacks the Base vs. Robinhood Chain rivalry and Robinhood's broader vision to become a true financial super app.Johann Kerbrat is the General Manager of Crypto at Robinhood, leading the launch of Robinhood Chain and the company's push into tokenized equities, DeFi, and onchain finance.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:50 Three Megatrends Robinhood Is Betting On05:02 Bringing Tokenized Equities Onchain15:04 Who Wins The Tokenization Wave18:19 Base Vs Robinhood Chain Rivalry22:18 Bringing Off-Chain Products Onchain24:36 Robinhood Chain's Business Model27:00 Robinhood's Super App VisionGuest Socials:Johann Kerbrat X: https://x.com/JohannKerbratRobinhood Crypto X: https://x.com/RobinhoodCryptoRobinhood Crypto Website: https://robinhood.com/us/en/chain/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Maredith Hannon breaks down why WisdomTree built its own end-to-end tokenization platform rather than relying on partners, and explains why she believes regulatory clarity from the GENIUS and CLARITY Acts will unleash a "tidal wave" of onchain asset growth. She also makes the case that privacy and identity are the next must-solve primitives for institutional adoption of tokenized assets.Maredith Hannon is the Head of Business Development at WisdomTree Digital Assets, a division of the $170+ billion global ETF and ETP sponsor building tokenized money market funds, stablecoins, and real-world asset products.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.00:00 Intro02:37 Building Their Own Tech Stack05:18 Who Wins The Tokenization Wave09:04 Choosing The Right Partners11:31 Why A Tokenized Money Market Fund13:37 Clarity Act Deadline Looms15:39 Genius Act's Tidal Wave Effect19:13 Vaults And Custom Portfolios22:05 Why Privacy Is Non-Negotiable27:37 Why Investors Choose TokenizationGuest Socials:WisdomTree X: https://x.com/WisdomTreePrimeWisdomTree Website: https://www.wisdomtreeprime.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Salman Banaei breaks down the state of play in DC on the CLARITY Act, from the ethics fight holding up Democratic support to the DeFi and conflicts-of-interest provisions still being negotiated, and puts the odds of passage this cycle at 40-50%. He also explains why Title IV's bank provisions and the bill's token fundraising framework could be some of the biggest unlocks in digital assets regulation yet.Salman Banaei is the General Counsel at Plume, a blockchain built for real-world asset finance, and a former SEC and CFTC policy advisor who has testified before Congress on digital asset regulation.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.|Timestamps:00:00 Intro01:19 Trump $2 Billion Meme Coin Controversy03:29 Private Negotiations Happening Now06:03 Trump Personally Attached To Ethics Clause09:44 Four Areas Of Debate Explained12:27 DeFi Provision Breakdown15:00 Clarity Act Market Structure Deep Dive19:05 Next Window Is Post 2028 Election21:29 August 10th Hard Deadline Confirmed24:52 Transaction Based Rewards PermittedGuest Socials:Salman Banaei X: https://x.com/banamlasPlume X: https://x.com/PlumeNetworkPlume Website: https://plume.org/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Andre Cronje breaks down why he believes decentralization is dead as a design goal, and unpacks how Flying Tulip is rebuilding DeFi composability. He also explains the security-versus-UX tradeoffs behind circuit breakers, upgradable contracts, and Flying Tulip USD's delta-neutral staking design.Andre Cronje is the Founder of Flying Tulip and a veteran DeFi builder known for creating Yearn Finance, Sonic, and several other foundational protocols in decentralized finance.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.00:00 Intro05:58 Security Versus UX Tradeoffs11:05 Decentralization Is Dead17:28 Curated Vaults Hide Real Risk21:00 Flying Tulip's Core Thesis23:05 Rebuilding DeFi Composability30:02 RFQ-Based Liquidations Explained33:20 Why Equity Margin Accounts40:29 Permissionless Single Asset Pools43:31 Origin Of Flying Tulip USD46:19 Delta Neutral Staking YieldGuest Socials:Andre Cronje X: https://x.com/AndreCronjeTechFlying Tulip X: https://x.com/flyingtulip_Flying Tulip Website: https://x.com/flyingtulip_Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Alex Shevchenko breaks down Confidential Intents, NEAR's new privacy layer that brings bank-level confidentiality to every DeFi primitive, and explains why a dollar that becomes payroll onchain tends to stay onchain. He also unpacks NEAR's "practical privacy" design and how it differs from Zcash and Tornado Cash. He also shares his personal bull case for Zcash and NEAR's own token economics.Alex Shevchenko is the GM at NEAR Intents, a universal liquidity layer that has processed over $23 billion in volume and helped power adoption of the Zcash ecosystem.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps02:37 Confidential Intents Explained05:26 Payroll Goes Onchain07:26 NEAR Intents' Growth Drivers13:55 NEAR's Inflation Debate16:31 Privacy As Crypto's Biggest Moat22:18 US Vs EU Regulatory Approach27:36 Designing Confidential Intents34:57 NEAR's Practical Privacy Model42:01 The Zcash Bull CaseGuest Socials:Alex Shevchenko X: https://x.com/AlexAuroraDevNEAR Protocol X: https://x.com/NEARProtocolNEAR Protocol Website: https://www.near.org/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch is your secure, efficient platform for tokenized RWAsWhatever asset you're buying - swap it at 1inch.com.---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Hanson Birringer breaks down why Hyperliquid is the purest way to express the bull case on perps, tokenization, and stablecoins all at once, and unpacks the mechanics behind the Grayscale ETF and Hyper Holdings' push to bring institutional capital onchain. He also explains why Hyperliquid's revenue could grow exponentially as HIP-3 markets and USDC0 stablecoin flows scale.Hanson Birringer is the Co-Founder and Chief Revenue Officer of Hyperdash, a global brokerage and trading data analytics platform built on Hyperliquid, and a core contributor to Hyper Holdings Global.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro00:48 Hyperliquid's Evolving Thesis02:24 The Three Megatrends Converge03:02 Hyperliquid's Purest Expression04:24 Stablecoins Give Up 90% Fees05:39 Builder Codes Compound Liquidity06:48 HIP-3 Regulatory Headwinds10:18 Incumbents Start Fighting Back13:22 Hyperliquid's Revenue Forecast16:22 Hyper Holdings And Grayscale ETF20:44 What's Next For Adoption23:44 Token Holders As First-Class Citizens25:23 Hyperdash's Business Model26:30 Imperator Acquisition Explained27:47 Bull And Bear CaseGuest Socials:Hanson Birringer X: https://x.com/HansonBirringerHyperdash X: https://x.com/hypurrdashHyperdash Website: https://hyperdash.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---1inch - Simple experience. Smart execution. Trading built to scale. It's time to bring the world onchain. https://1inch.com/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Joseph Chalom makes the case that Ethereum has the license to win and is finally going on offense to prove it, backed by ETH Labs, Ethereum Institutional, and dominant market share across stablecoins, tokenization, and DeFi. He argues ETH is the trust commodity behind trillions in future onchain asset flows, and that the risk-reward for holding it has never been better.Joseph Chalom is the CEO of SharpLink, one of the largest corporate treasury holders of Ethereum, and a key steward behind the launch of ETH Labs and Ethereum Institutional.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:28 The Messaging Was The Problem04:07 Ethereum Has The License To Win06:18 The Real Tokenization Land Grab09:58 The Institutional Supercycle Is Here13:17 Best Risk-Reward Entry Ever17:43 Organized, Loud, And Winning19:27 Decentralized And Unstoppable21:37 Chalom And Lee Align Forces24:27 The ETH Supply Sink TightensGuest Socials:Joseph Chalom X: https://x.com/joechalomSharplink X: https://x.com/SharplinkSharplink Website: https://www.sharplink.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Lincoln Murr breaks down why Coinbase is building toward a post-AGI economy where autonomous agents hold their own financial accounts and transact using digital assets rails. He also unpacks the geopolitics of AI regulation, from potential government stakes in frontier labs to the rise of cheaper Chinese models challenging U.S. dominance.Lincoln Murr is the Head of AI Product at Coinbase, leading the company's x402, Coinbase for Agents, and Coinbase Advisor initiatives at the intersection of artificial intelligence and digital assets.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:04 AI Meets Digital Assets02:58 Speculating On Compute Markets05:13 Coinbase Advisor Explained07:18 Fully Autonomous Agent Trading10:04 AI Models Get Restricted14:01 Nationalizing AI Labs15:04 Cheap Chinese Models Debate18:00 Data Centers In Space19:56 How Early AI Adoption Is21:25 Coinbase's Post-AGI Vision23:35 Where AI And Payments ConvergeGuest Socials:Lincoln Murr X: https://x.com/MurrLincolnCoinbase X: https://x.com/CoinbaseCoinbase Website: https://www.coinbase.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Michael Egorov breaks down why FX markets are slowly but inevitably moving onchain, driven by real demand from crypto-native fintechs rather than a big institutional push. He also explains how Curve is evolving its concentrated liquidity design to support currency pairs beyond stablecoin-to-stablecoin swaps, and why dollars that enter the chain tend to stay there.Michael Egorov is the Founder and CEO of Curve, one of DeFi's most foundational protocols and a pioneer of stablecoin liquidity infrastructure since the earliest days of decentralized finance.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:49 Stablecoin Landscape Today03:56 Curve's Original Design05:44 Non-USD Stablecoin Debate07:40 Fintechs Driving FX Demand09:34 Spread Needed For FX12:31 Consumer Behavior Theory18:11 Institutions Using Curve20:44 Dollars Stay On Chain23:13 Curve's Fiat Cash Leg29:02 Managing Concentrated Liquidity31:02 Curve's Origin StoryGuest Socials:Michael Egorov X: https://x.com/newmichwillCurve X: https://x.com/yieldbasisCurve Website: https://yieldbasis.com/earnPartners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Niklas Kunkel breaks down the strange divergence between record institutional bullishness on digital assets and the apathy in digital asset-native circles. He also details Chronicle's path to becoming the leading oracle, the mechanics of an upcoming token, and why the next phase of tokenization is just beginning.Niklas Kunkel is the Founder and CEO of Chronicle Labs, the oracle infrastructure that spun out of MakerDAO and now secures over $16 billion in onchain assets for institutions including BlackRock and BNY.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Chronicle's Origin Story01:12 Institutions Bullish03:28 Institutional Driven Market Cycle06:18 What Institutions Want Now09:04 Utility Vs Distribution Problem11:12 Redefining Proof Of Reserves16:14 Why Trust Chronicle19:35 DeFi's $150B Ceiling21:08 The $2 Trillion Opportunity25:39 Who's Winning RWA Race30:57 How To Get Exposure34:07 Hyperliquid Sets The Standard41:32 Chronicle's Institutional Partnerships50:13 Institutional Compliance Explained55:48 Chronicle Is Launching A TokenGuest Socials:Niklas Kunkel X: https://x.com/nomos_paradoxChronicle X: https://x.com/ChronicleLabs Chronicle Website: https://chroniclelabs.org/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Gracy Chen breaks down how Bitget evolved into a universal platform offering tokenized stocks, ETFs, bonds, forex, and pre-IPO positions, shares the 10% vision she pitched to BlackRock CEO Rob Goldstein, and explains why stablecoin issuers and Solana's RWA positioning are the biggest winners of the tokenization wave. One of the most globally-minded CEO perspectives we've had on the show.Gracy Chen is CEO of Bitget, one of the world's largest global digital assets exchanges offering crypto, tokenized stocks, ETFs, bonds, and pre-IPO assets.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:50 Bitget's Tokenized Stock Offering05:39 Return To Fundamentals Era08:32 Quality Projects Taking Shape11:02 Top Exchanges Diverge Now13:39 10% Vision With BlackRock16:26 Who Wins This Wave?19:14 Nvidia Stock As Collateral22:46 Perps Coming To US25:34 Perps And Spot Coexist28:10 Marathon Not A SprintGuest Socials:Gracy Chen X: https://x.com/GracyBitgetBitget YouTube: https://x.com/bitgetBitget Website: https://www.bitget.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Amos joins us to break down why inference is the new oil and companies will hedge inference costs the same way airlines hedge jet fuel, why AntSeed is open router without open router in the middle, and why all network revenue goes to buy and burn with no company capturing value. 14 years in crypto. This is what he's building next.Amos Meiri is Co-Founder of AntSeed, an open-source P2P marketplace for AI inference, and a 14-year crypto veteran who helped build colored coins alongside Vitalik before Ethereum existed.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro03:17 Inference Is New Oil06:27 AI Financialization Just Starting09:27 BitTorrent Model For Inference11:59 1,000 Users Three Months14:45 Open Market Creates Competition17:31 Foundation Not A Company20:01 Liquid Inference Token Explained22:38 Venice DM Token Parallel25:36 Permissionless Inference Is FutureGuest Socials:Amos Meiri X: https://x.com/AmosMeiriAntSeed X: https://x.com/AntSeedAIAntSeed Website: https://antseed.com/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Yesterday Robinhood hosted their “The World is Flat” event where they announced the Robinhood chain mainnet & deepened relationship with Lighter, amidst many other digital asset focused initiatives. Lighter was named the official perps partner of Robinhood and will be directly integrated within the Robinhood wallet.Vladimir Novakovski is CEO and Co-Founder of Lighter, a decentralized perpetual exchange with an institutional-grade security-first architecture.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:53 Perps For Robinhood Users05:30 What Lighter Brings Robinhood08:13 ETH As The Clearing Layer10:47 Building Beyond Robinhood13:40 Options Launch In Q3Guest Socials:Vladimir Novakovski X: https://x.com/vnovakovskiLighter X: https://x.com/Lighter_xyzLighter Website: https://lighter.xyz/Partners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

VirtualBacon Dennis Liu breaks down why Bitcoin at 58K is deep value territory, why the four year cycle has repeated exactly as expected and isn't going anywhere, and why HYPE and Lighter are the cleanest expressions of the tokenization trade while ETH wins the underlying technology stack. Plus his hot take on MicroStrategy's real liquidation level and why the $1.25B Bitcoin sale is barely a rounding error.Dennis Liu is a digital assets trader and content creator widely known as VirtualBacon, one of the most followed technical analysis voices in the digital assets space.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:36 Bitcoin Gold Post Iran05:09 Equal Playing Field Now08:05 After Clarity Divide Begins11:04 Retail Vs Institutional Divide13:51 Only Five Stablecoin Players16:37 Perps Huge Next Cycle19:22 Kalshi Overtook Polymarket21:52 MSTR Liquidation Level $10K24:29 Three Parties To Please27:05 Five Years Angel Experience30:00 Revenue Beats L1 Thesis37:48 Tokenization Trillions Are Coming40:32 ETH Wins Token IssuanceGuest Socials:Virtual Bacon X: https://x.com/virtualbaconVirtual Bacon YouTube: https://www.youtube.com/@virtualbaconPartners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

MoneyGram CEO Anthony Soohoo breaks down why launching MGUSD was a vertical integration play straight out of Apple's microprocessor playbook, why MoneyGram's 500,000 physical locations are an unbeatable moat in a stablecoin world, and why their new Kraken partnership lets anyone cash out crypto at a MoneyGram or Walmart location worldwide.Anthony Soohoo is Chairman and CEO of MoneyGram, a 500,000-location global payments and remittance network now building stablecoin infrastructure across Stellar, Solana, and Tempo.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:36 Tokenization Increases Margins06:04 Why Launch Your Own Stablecoin09:24 Typical Remittance User Journey13:14 Stablecoin Speeds Settlement17:05 Stellar Solana Tempo Infra19:59 Becoming Validators22:01 60 Million Active Customers24:30 Economics Of Going Digital27:01 GENIUS Act Gave Confidence29:55 Boldest Prediction Agent IDsGuest Socials:Anthony Sooho X: https://x.com/anthonysoohooMoneyGram X: https://x.com/MoneyGramMoneyGram Website: https://bit.ly/m/MoneyGramPartners: Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Evan Fisher breaks down why blockchain is more analogous to legal technology than financial technology, why AI-proof moats in crypto are network effects, liquidity, and trust rather than code, and why momentum investors who mistake good metrics for durable value will be this cycle's biggest losers.Evan Fisher is Founder of Portal Ventures, a pre-seed blockchain investment firm managing $120M across two funds.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.TimestampsGuest Socials:Evan Fisher Socials: https://x.com/evanbfishPortal Ventures Socials: https://x.com/portalventuresPortal Ventures Website: https://portal.vc/

Se Yong Park breaks down why FOMO is building the trading app for the rest of us... any chain, any asset, never miss out again, why AI will commoditize content but can never commoditize money and risk, making social the most defensible moat in on-chain finance, and why FOMO raised $75M from Benchmark, Robinhood, and Coinbase without touching a single venture dollar before closing the round.Se Yong Park is Co-Founder of FOMO, a social trading app for on-chain assets built for everyone.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro00:41 TradFi To Crypto Journey04:19 Never Early Enough Thesis07:37 Money Can't Be Commoditized09:16 Paper Electronic Blockchain Trading11:10 FOMO Is For Everyone13:23 $500 To $1.7M Story16:11 On-Chain Evolution Explained19:14 Prediction Markets Still Early22:06 Agentic Trading Research Tool27:00 $75M We Didn't Need

Jess Houlgrave breaks down why 2026 is the year of non-USD stablecoins with USDC losing Mica compliance, 30 European banks now issuing a euro stablecoin, and HKD, JPY, SEK and CHF versions all coming to market. She covers WalletConnect's $6B per week in stablecoin volume, why broad asset support is the key to reducing merchant and much more.Jess Houlgrave is CEO of WalletConnect, the leading financial connectivity layer powering stablecoin payments across 700 wallets and hundreds of thousands of applications.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps: 00:00 Intro01:04 TradFi Crypto Worlds Converging02:48 $6B Volume Last Week04:50 Non-USD Stablecoins Growing Fast08:08 30 Banks Issuing EUR Stablecoin11:26 WalletConnect Just The Pipes13:47 Broad Assets Less Dropoff18:45 Payment Has Multiple Layers20:47 Stablecoin Cards Hurt Merchants24:10 New CRO From Visa28:39 Worst Quarter For SecurityGuest Socials:Jess Houlgrave X: https://x.com/HoulgraveWalletConnect X: https://x.com/WalletConnect?lang=enWalletConnect Website: https://walletconnect.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Bernardo Brites breaks down why the Brazilian real is uniquely positioned for a stablecoin, why being pro-banking rather than anti-banking is the only path to the next hundreds of millions of stablecoin users, and how Trace processed $10B of payment volume on just $4M in seed capital before closing a $32M Series A.Bernardo Brites is Co-Founder of Trace Finance, a cross-border payments and stablecoin infrastructure platform for companies in Brazil, LatAm, and beyond.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:27 Ten Years In Crypto05:22 Brazil Cross-Border Is Here08:35 Brazil's Toughest Regulated Market10:37 $32M Series A Breakdown13:34 $10B On $4M Raised17:05 Compliance Shouldn't Be Bottleneck22:06 BRL Stablecoin Unique Case24:14 Singapore Best Cross-Border Hub26:08 Regulated Both Sides WinsGuest Socials:Bernardo Brites Socials: https://x.com/bebritesTrace Finance Socials: https://x.com/FinanceTraceTrace Finance Website: https://www.tracefinance.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

SEC Commissioner Hester Peirce breaks down the state of digital asset regulation in the USA. She joins us to talk through the Rule 611 trade-through proposal that's been 20 years in the making, why the innovation exemption is deliberately narrow, her views on synthetic tokenized securities, and why self-custody and financial privacy are non-negotiable principles she wants embedded into every regulatory regime that follows. Hester Peirce is an SEC Commissioner and founder of the SEC's Crypto Task Force, widely known in the digital assets industry as 'Crypto Mom'.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:21 Rule 611 Proposal Explained08:23 Innovation Exemption Myths Busted14:37 Remaining Priorities At SEC17:18 Term Ending Before Year-End20:03 Best Practices For Companies23:37 Chairman Atkins Will Continue26:38 Three Tokenization Categories Explained32:01 Smart Contracts For Securities38:53 Pre-IPO Markets And Retail44:19 Self-Custody And Privacy Are Sacred50:06 What's Next For Hester?Guest Socials:Hester Peirce Socials: https://x.com/HesterPeircePartners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Sam Boboev breaks down why stablecoins are the native currency of AI agents, why Mastercard's $1.8B blockchain acquisition and Visa's OpenAI partnership signal the payment giants have accepted their stablecoin future, and why the real killer use case for stablecoins isn't consumer payments.Sam Boboev is Founder of Fintech Wrap Up, a media and analytics platform covering AI, stablecoins, and the future of payments.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro02:17 Stablecoins Native AI Currency05:25 B2B Leads Short Term06:42 Chime AI Assistant Launch10:17 Who Wins Agent Commerce?12:01 Revolut 75M Data Advantage14:37 Mastercard Visa Agent Pay16:06 Mastercard $1.8B Blockchain Bet19:24 More Stablecoin Consolidation Coming23:03 Settlement Is The Killer25:36 Bullish On AI Stablecoins29:02 Regulation Is The UnknownGuest Socials:Sam Boboev Socials: https://x.com/samboboevFintech Wrap Up Website: https://www.fintechwrapup.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_i...---

Alexander Cutler breaks down the state of investing in tokens, why Aerodrome is already the number one onchain exchange for Bitcoin, Ethereum, and FX volume, why 100% value redistribution is the only sustainable moat in onchain finance just like Hyperliquid proved in derivatives, and why predictive allocation is an entirely new primitive that lets capital allocators bet on where liquidity needs to exist before demand ever arrives. Alexander Cutler is CEO of Dromos Labs and core contributor of Aerodrome, the leading onchain spot exchange on Base.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:10 MetaDEX03 In Audit04:55 How Exchanges Become Distribution Engines09:09 SEC Tokenized Equities Leak11:29 10% GDP Goes Onchain?13:15 A Massive Change In Tokens16:07 How Hyperliquid Won Dominance20:39 90% Redistribute Zero Value26:33 Traditional Allocators Get It34:12 Coinbase VC Bought Onchain Directly37:54 Predictive Allocation New Primitive47:43 Polymarket Proves The ModelAlex Cutler Socials: https://x.com/wagmiAlexanderAerodrome Socials: https://x.com/AerodromeFiAerodrome Website: https://aerodrome.finance/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

From pioneering the Transformer architecture now used in every AI stack to building the rails for the agent economy, NEAR Co-Founder Illia Polosukhin connects the full arc in this inaugural episode of “Inside NEAR,” a new quarterly series on The Rollup. Illia breaks down NEAR's early architectural bets that are now paying off, why privacy had to be a base-layer choice, and how it all culminates in NEAR becoming AI money: the unit of account for inference, compute, and every agent-to-agent transaction settling onchain. With $20B+ in Intents volume and a path to deflation, the thesis is simple: NEAR's TAM isn't crypto, it's all of commerce.Illia Polosukhin is Co-Founder of NEAR Protocol.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:38 State Of NEAR Quarterly04:32 The Transformer's Origin Story06:51 NEAR Started As AI11:40 Post-Quantum Crypto Coming Soon13:48 Root Of Trust Solved19:36 Target Market All Commerce20:41 AI Frontend Blockchain Backend22:44 Confidential Intents TVL Rising28:51 Fee Switch Turned On34:04 NEAR Is AI Money36:30 One Line Changes RealityGuest Socials:Illia Polosukhin X: https://x.com/ilblackdragonNEAR Protocol X: https://x.com/NEARProtocolNEAR Protocol Website: https://www.near.org/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Vladimir Novakovski sits down with Andy & Robbie to break down the Lighter bull thesis from The Tokenization Tower in NYC. We discuss Lighter's escape hatch design that lets every participant exit through Ethereum even if the protocol fails, why the RFQ model is the key to bootstrapping liquidity for pre-IPO and RWA perps, and why getting Citadel and US institutional capital on chain is the biggest unlock the perp market hasn't hit yet. He's working with the CFTC to make that happen.Vladimir Novakovski is CEO of Lighter, a decentralized perp exchange built on top of Ethereum with an institutional-grade security-first architecture.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro01:37 Perp Market Awareness Today03:26 Pitching Institutions On Lighter05:28 Ethereum Security And Escape Hatch07:54 How Market Makers Stay Comfortable11:17 How Lighter Bootstraps Liquidity12:35 Pre-IPO Perp Durability15:37 Build In-House Or Composable19:29 US Regulatory Path For Perps23:29 CFTC Innovation Council Insights26:39 Questions For Commissioner Hester Peirce28:07 Team Culture And Miami Office32:26 Founder Decision Making Framework34:46 AI Agents And Lighter's Stack37:30 Perps Market Structure Long View41:21 Power Law Or Distributed Market?Guest Socials:Vladimir Novakovski X: https://x.com/vnovakovskiLighter X: https://x.com/Lighter_xyzLighter Website: https://lighter.xyz/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

David Schamis breaks down why PERE now holds over 10% of HYPE's circulating supply, why the Coinbase and Circle deal added $200M in annual buybacks that the market didn't price in for a full day, and why Hyperliquid's price discovery on Cerebus and SpaceX may make investment bankers irrelevant to the IPO process. David Schamis is CEO of Hyperliquid Strategies, a publicly traded company and one of the largest corporate holders of HYPE.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 PERE Major Update Announced01:03 Not Michael Saylor Mindset05:38 ATM Equity Line Explained08:00 Right Move Is Nothing11:19 Coinbase Circle Deal Impact14:16 $200M More Buybacks16:02 He Checks HYPE Constantly17:32 Cerebus IPO Predicted Perfectly18:34 SpaceX Price Discovery22:13 Anthropic OpenAI IPOs Coming25:22 IPO Discount Is Toll31:12 PERE Beat All ETFsGuest Socials:David Schamis X: https://x.com/dschamisHyperliquid Strategies X: https://x.com/HypeStratHyperliquid Strategies Website: https://www.hypestrat.xyz/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Jake Brukman breaks down why a swarm of decentralized agents beat Google's quantum circuit research in a week, why decentralized training on consumer hardware is now provably cheaper than data centers, and why winning just 10% of AI training automatically locks in revenue from a $1 trillion inference market. He published this thesis in September 2022, before ChatGPT existed.Jake Brukman is Founder and CEO of CoinFund, an 11-year digital assets and decentralized AI investment firm.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 AI Meets Decentralization Thesis02:44 Thesis Before ChatGPT Existed03:44 Consumer Devices Train Models04:29 100B Parameters Consumer Hardware06:45 Rise Of Authentic Swarms09:15 Swarms Outpaced Google Fast12:53 Inference Drives All Revenue13:13 $1T Inference Market 203114:53 Crypto Subsidizes AI Inference17:02 Win Training Win Inference20:47 Decentralized Training Now Cheaper22:49 Kirkland $500M Own Model28:39 Harnesses Collect Trace Data31:24 Co-Own Model Donate Traces33:10 Different From Past Web340:11 2.4B Monthly AI UsersGuest Socials:Jake Brukhman X: https://x.com/jbrukhCoinFund X: https://x.com/coinfundCoinFund Website: https://www.coinfund.io/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Sam Kazemian breaks down why the Genius Act's 120-day default acceptance is the most bullish structural change for compliant stablecoins, why you can't vibe code liquidity or DeFi integrations regardless of AI, and why the stablecoin supply step function could arrive in 6 to 8 months.Sam Kazemian is Founder of Frax Finance, the protocol behind FRAX USD, a Genius-compliant decentralized stablecoin operating system.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Genius Act Q1 202701:28 120-Day Default Acceptance03:40 FRAX USD Genius Compliant04:07 Biggest Stablecoin On Aave08:05 Can't Vibe Code Liquidity09:06 Investable DeFi Tokens Breakdown12:42 Two Types Of Stablecoins15:20 New On-Chain Assets Coming19:15 Supply Growth Drives Buybacks23:18 Reinvest Now Burn Later27:33 Institutional Players Move Slower28:41 Stablecoin Step FunctionGuest Socials:Sam Kazemian X: https://x.com/samkazemianFrax Finance X: https://x.com/FraxFinanceFrax Finance Website: https://frax.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

DeFi Dad breaks down why lighter's ETH escape hatch makes it the most underrated security feature versus HyperLiquid, why RWA tokenization will eventually eclipse all native crypto tokens by market cap, and why ETH staking yield is effectively the native T-bills rate of the entire DeFi economy. The most convicted ETH bull case you'll hear right now.DeFi Dad is one of the most prominent long-term ETH advocates and DeFi content creators in the space.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:01:15 Lighter Vs Hyperliquid04:22 DeFi Exploit Risk Reality05:58 DeFi Dad's Portfolio07:32 Ethereum's DeFi Dominance11:09 Exploits And AI Vulnerabilities14:55 Stani New Protocol Rumors17:38 Tom Lee BitMine Preferred Shares19:46 STRK Vs BitMine Compared23:19 ETH Burn And Issuance Debate25:10 Staking Yield As Native Rate29:23 DeFi Dad's ETH Stack Story31:54 ETH Bull Price Targets35:00 Return To Quality AssetsGuest Socials:DeFi Dad X: https://x.com/DeFi_DadThe Edge Podcast X: https://x.com/Edge_PodThe Edge Podcast Website: https://www.the-edge.xyz/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Dragonfly's Haseeb Qureshi breaks down why Bitcoin is not an honest macro asset, why domestic perps will disappoint compared to offshore, and why BNB has been outearning Hyperliquid for years yet nobody wants to talk about it. The most contrarian read on digital assets you'll hear this week.Haseeb Qureshi is Managing Partner at Dragonfly, a leading digital assets venture capital firm.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Bloody Day Market Recap02:21 Bitcoin Not Honest Macro03:39 Retail Left The Market04:56 Revenue Beats Crypto Beta07:00 HL Regulatory Risk Explained09:34 Domestic Perps Different Product12:07 Why Perps Were Invented15:42 HL Lighter Most Investable?17:56 BNB Beats Hyperliquid Revenue19:36 Markets Are Forward Looking23:03 L1 Fee Paradox Explained27:34 OpenAI Enterprise Fee Model29:14 Fundamentals Great Prices LaggingGuest Socials:Haseeb X: https://x.com/hosseebDragonfly X: https://x.com/dragonfly_xyzDragonfly Website: https://www.dragonfly.xyz/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Illia and Mert break down why the Zcash situation is a known ZK circuit trade-off and not the infinite mint catastrophe the market priced in, why Project Tachyon's formal verification is the most bullish upgrade in Zcash history, and why NEAR Intents generated $150K in a single volatile day, buying back NEAR while everyone else was selling.Illia Polosukhin is Co-Founder of NEAR Protocol, and Mert is Co-Founder of Helius, a leading Solana infrastructure platform.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Zcash Exploit Or Not?00:41 ZK Circuit Risk Explained02:32 Why ZEC Price Dropped03:48 Zcash Sapling Pool 201905:22 No Infinite Mint Evidence06:31 Formal Verification Is Solution08:05 Project Tachyon Quantum Proof11:18 AI Vulnerability Armageddon Coming17:02 Zcash Optional Transparency Explained21:08 NEAR Intents ZEC Inflow24:35 Bear Case Worst Scenario30:01 NEAR Profits On Volatility33:43 Arthur Dumped NEAR ReactionGuest Socials:Mert Mumtaz X: https://x.com/mertHelius X: https://x.com/heliusHelius Website: https://www.helius.dev/Illia Polosukhin X: https://x.com/ilblackdragonNEAR Protocol X: https://x.com/NEARProtocolNEAR Protocol Website: https://www.near.org/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Sal Ternullo joins this episode of AI Supercycle and breaks down why NEAR is a very unique asset in digital assets right now, how intents are building toward a real-economy TAM that dwarfs crypto-to-crypto swaps, and why the path to NEAR going deflationary is closer than the market thinks. The institutional inbound is at record levels, and the market is finally catching up, or so he says.Sal Ternullo is CEO of SVRN, a development company dedicated to growing the NEAR Protocol ecosystem.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:49 Institutional Inbound Explained02:28 Bitcoin Negative Correlation04:35 NEAR Investment Thesis Evolution06:16 NEAR AI Stack08:29 Bear Case And Risks09:56 Venice Integration Breakdown11:27 Path To Deflation14:18 Intents Fee Model Analysis15:51 Fee Structure Vs Volume17:46 Confidential Intents Premium19:42 Token Buyback Pre-CommitmentGuest Socials:Sal Ternullo X: https://x.com/sal_ternulloSVRN X: https://x.com/svrn_aiSVRN Website: https://svrn.net/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Capital Flows and Jaymes Rosenthal join The Rollup to discuss how the PUR gamma squeeze is already happening.Capital Flows and Jaymes Rosenthal are macro traders and HyperLiquid analysts.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Intro And Disclosures01:04 Capital Flows Macro Background04:37 Jaymes Poker To Trading06:09 GameStop Style Squeeze Thesis07:23 Credit Cycle Context Explained09:01 HYPE Up Bitcoin Down10:39 PUR Best HL Expression11:53 Goldman Skipped The ETF12:09 Gamma Squeeze Mechanics Explained15:07 PUR Meme Potential Explained17:53 Gamma Squeeze 10122:14 ETFs Dilute PUR Options?24:14 PUR vs ETF Active Management28:55 Bitcoin Not Cooperating Question32:07 Bitcoin's Burden Of Proof37:11 HL vs CME ICE Cboe41:17 WSJ Calls HL Convenience Store44:39 Wall Of Capital ComingGuest Socials:Capital Flows X: https://x.com/GlobalflowsJaymes Rosenthal X: https://x.com/jaymesrosenthalPartners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Joseph Chalom explains why ETH is not dead.Joseph Chalom is CEO of SharpLink, the second largest corporate ETH holder.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 ETH Is Not Dead01:16 Second Largest ETH Holder02:33 Ethereum Wins The Scoreboard04:20 Step Function Moment Coming04:45 The Jeff Bezos Analogy06:42 EFF Not The Marketing Arm10:04 Private Sector Must Step Up12:39 Warren Buffett Capitulation Thesis13:22 BlackRock Doubled Down At FTX15:44 WTI Crude Predicts Bitcoin16:49 Best Entry Point Right Now22:01 160M Agent Payments Q124:50 Institutions Need Finality Not Speed25:02 BlackRock Tokenizing $8B Fund30:32 Fidelity Now Largest Investor33:19 First DeFi In Public Company35:41 Retail Capitulation Best EntryGuest Socials:Joseph Chalom X: https://x.com/joechalomSharplink X: https://x.com/SharplinkSharplink Website: https://www.sharplink.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---

Ryan Rasmussen joins us to explain how HYPE is the most obvious buy.Ryan Rasmussen is Head of Research at Bitwise, a digital assets manager.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps00:00 Largest HYPE ETF Launched01:14 Why Only Two Issuers02:37 200 Eyes On Crypto03:52 Dollar In Dollar Out04:38 In-House Staking Advantage07:21 Allocator Lightbulb Moment08:26 HYPE Is A Buyback08:55 5% Beats S&P Buyback12:52 S&P 500 Licensed To HL13:51 Bear Case Regulatory Risk14:52 Genius Act Unlocked Everything19:22 Triple Demand Driver Explained22:13 Circle USDC Deal Impact26:25 Comparing HL To NYSE27:07 TAM Is Insanely Massive33:27 Stablecoins Hit $5T ScenarioGuest Socials:Ryan Rasmussen: https://x.com/RasterlyRockBitwise X: https://x.com/BitwiseBitwise Website: https://bitwiseinvestments.com/Partners:Better than Banks. Transparent capital efficiency earning the highest yields in DeFi. Learn more here: https://infinifi.xyz/---APYX - Enhanced Digital Credit Yield, Onchain | On Track to Become the Largest Holder of STRC. https://apyx.fi/---Dinari - Over 230 1:1 backed tokenized stocks, ETFs & more with dividends. US-based SEC transfer agent. Available on 5+ chains & via API. https://dinari.com/---Relay is the fastest and most reliable way to swap any token on any chain. Learn more here: https://relay.link/bridge---Zama is an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain.Learn more here: https://www.zama.org/---Trezor is the creator of the first-ever hardware wallet. Securing crypto for 2M+ users worldwide. 100% open source. Learn more here: https://affil.trezor.io/aff_c?offer_id=133&aff_id=36664---