ROLLUP: Bitcoin Hits NEW ATH | Stablecoin Bill Advances | ETH’s ZK Miracle | Solana’s New Chain? | T

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4.7 • 1.2K Ratings

🗓️ 23 May 2025

⏱️ 67 minutes

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Summary

This week, Ryan and David unpack Bitcoin’s explosive run to $111K and the macro chaos driving it—specifically, the U.S. Treasury’s failed bond auction and what it signals for the dollar. They break down the Senate’s landmark stablecoin bill (and Elizabeth Warren’s meltdown), Ethereum’s ZK miracle that could 100x Layer 1 throughput, and Texas launching its own state Bitcoin reserve. Plus, why Stanley Druckenmiller’s portfolio strategy might justify going all-in on crypto—and whether alt season is finally on the horizon. ------ 📣 RE | REAL-WORLD (RE)STAKING https://bankless.cc/Re ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐CELO | PROVE YOUR SELF https://bankless.cc/Self 🟠HEMI | BTC & ETH, ONE NETWORK https://bankless.cc/hemi ------ TIMESTAMPS & RESOURCES 0:00 Intro 0:31 Stanley Druckenmiller https://x.com/mrexits/status/1925354907382816880 3:40 Markets https://x.com/glassnode/status/1925225568817099260 https://x.com/btc_archive/status/1925468871449866309 https://x.com/WatcherGuru/status/1925401414659867102 https://x.com/Cointelegraph/status/1924676563582267643 https://x.com/CryptoRank_io/status/1923875599275143300 https://x.com/cburniske/status/1925482199727710648 https://www.reuters.com/business/tepid-demand-us-treasury-auction-shows-investor-jitters-about-tax-bill-deficit-2025-05-21/ 20:42 U.S. About to Pass a Landmark Stablecoin Bill? https://x.com/SenatorHagerty/status/1924933844001521787 https://x.com/eleanorterrett/status/1924504745689153812 https://x.com/WayneVaughan/status/1924660740847222832 https://x.com/intangiblecoins/status/1925247754969797007 https://x.com/cburniske/status/1924705825723187343 https://x.com/CampbellJAustin/status/1925170860140249445 33:48 ETHEREUM IS SAVED. Bet it all on zk! Real-time proving is coming to Ethereum! https://x.com/drakefjustin/status/1924929057676001466 https://x.com/VitalikButerin/status/1925050155922862526 https://x.com/pumatheuma/status/1925231968117277066 https://x.com/SuccinctLabs/status/1924523978703740963 45:26 Solana’s next leap: the proposed “Alpenglow” consensus https://x.com/Austin_Federa/status/1924498049482559677 https://www.anza.xyz/ https://x.com/gttyson/status/1924519192101061035 47:57 FIGHT FOR RWAS https://x.com/TrustlessState/status/1925577606163829203 https://blog.kraken.com/news/tokenized-equities-coming-soon 48:58 BIG Sui Dex hacked https://x.com/Cointelegraph/status/1925509145366503486 https://x.com/SuiNetwork/status/1925572334054002774 https://www.coingecko.com/en/coins/sui 52:13 SKY became the sole governance token of the Sky https://x.com/SkyEcosystem/status/1924515700564988354 https://upgrademkrtosky.com 53:54 Bitcoin community might rename sats to bitcoins https://x.com/jack/status/1924121538485178658 57:16 Texas Strategic Bitcoin Reserve bill officially passed - TEXAS loves crypto https://x.com/BitcoinMagazine/status/1925239389141049353 https://bitcoinlaws.io/tx 58:24 Galaxy was listed on Nasdaq - $7 billion https://x.com/galaxyhq/status/1923411961754108177 59:11 Hester Peirce’s “New Paradigm” speech (SEC Speaks, 19 May 2025) https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-sec-speaks-051925 https://x.com/RyanSAdams/status/1924539029346828608 -https://www.coindesk.com/policy/2025/05/20/sec-charges-unicoin-top-executives-with-100m-massive-securities-fraud 1:01:39 DOJ is investigating Coinbase data breach & Circle Rumors? https://cointelegraph.com/news/justice-department-coinbase-data-breach https://www.coindesk.com/business/2025/05/20/circle-has-explored-potential-5b-sale-to-coinbase-or-ripple-instead-of-ipo-report 1:04:00 Closing & Disclaimers 1:04:26 Moment of Zen https://x.com/mrexits/status/1925354907382816880 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Transcript

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0:00.0	Bankless Nation. It is all-time high week. Bitcoin all-time high week on the Bankless
0:08.8	Weekly Roll-up. Wow. Feeling good going to this episode. David, how much of your liquid net worth
0:13.9	is in Bitcoin? And I hope that answer is a lot. I would say my liquid net worth in the top two crypto assets is something like 95%.
0:24.6	So pretty concentrated bet.
0:26.6	Wow.
0:27.6	Wow.
0:28.6	You know what?
0:29.6	I would caution you and I would say that's probably a bad idea, but instead I'm going to play this clip from legendary investor, Stanley Druckenmiller.
0:36.6	My idea of risk control is a little non-conventional.
0:41.6	I like putting all my eggs in one basket and I'm watching the basket very carefully.
0:46.8	There you go, David. Stanley says it's okay. Your strategy is fine. You don't have to be
0:51.1	diversified. You just got to watch those baskets very carefully.
0:59.2	You know, I've never really been a fan of diversification. It's just, it's just not exciting.
1:07.1	I'm a content producer who needs, like, excitement and thrill in his life. And let me tell you,
1:11.7	that doesn't come from a diversified basket of, you know, multiple different asset class no okay i was actually wrong it's not 95% uh my networks because i do have like a pretty
1:17.3	good amount of hood and coin and so i have equities that oh yeah that's exposure right equity companies
1:23.1	that sell crypto and then i own the crypto that they sell too as well. Dracon Miller would
1:29.9	approve. Actually, you know what? At the end of this episode, I'm going to play the rest of the
1:32.9	clip because it's just timeless advice if you're doing something like the crypto barbell.
1:37.5	The beat in the background really adds a lot of flavor to that. I couldn't help that.
1:41.0	So we put that in there. That wasn't me. David, we got a busy roll-up today.
1:44.3	First, we got to talk about this landmark stablecoin bill. That's the Genius Act. There's a key
	...

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