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Bankless

ROLLUP: Bull Market Over? | BTC 50W Breakdown | Balancer Hack | Stream Finance Collapse | Brian Armstrong’s Prediction Market Drama

Bankless

[email protected]

Tech News, News, Technology

4.81.1K Ratings

🗓️ 7 November 2025

⏱️ 66 minutes

🧾️ Download transcript

Summary

Is the crypto bull market really over, or just pausing while AI takes the spotlight? On this week’s Weekly Rollup, Ryan and guest co-host Haseeb break down Bitcoin’s 10/10 crash, hidden leverage, and the “Bitcoin silent IPO” thesis. They also cover the $128M Balancer hack, DeFi’s decentralization debate, L2 vanity metrics, Brian Armstrong’s prediction market stunt, and why Peter Thiel says Bitcoin’s becoming a BlackRock coin. ------ 📣UNISWAP UNO DECK GIVEAWAY | COMPLETE THE SURVEY TO ENTER https://www.bankless.com/survey ------ BANKLESS SPONSOR TOOLS: 🪙FRAXNET | MINT, REDEEM, EARN  https://bankless.cc/fraxnet 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR L2 NETWORK https://bankless.cc/Mantle 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep 💠BIT DIGITAL ($BTBT) | ETH TREASURY  https://bankless.cc/bit-digital We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors ------ TIMESTAMPS & RESOURCES 0:00 Intro 2:14 Markets https://x.com/intocryptoverse/status/1985771197460558099 https://x.com/ColinTCrypto/status/1985781111713390894 https://www.cnbc.com/2025/11/03/stock-market-today-live-updates.html https://edition.cnn.com/2025/11/05/business/nvidia-palantir-michael-burry-stock https://www.nbcnews.com/politics/politics-news/35-days-government-shutdown-record-longest-history-election-day-rcna241576 https://polymarket.com/event/when-will-the-government-shutdown-end-545?tid=1762452064029 https://x.com/KobeissiLetter/status/1985791658689024101 https://visserlabs.substack.com/p/bitcoins-silent-ipo-why-this-consolidation https://x.com/StreamDefi/status/1985556360507822093 https://x.com/AzFlin/status/1985496697255170279 https://x.com/deepcryptodive/status/1985693763121889722 https://x.com/deepcryptodive/status/1986047552135835855 https://x.com/DefiIgnas/status/1984947279942611123 https://x.com/seanlippel/status/1984013993111888013 https://x.com/DTAPCAP/status/1985733571097567457 30:46 Balancer hacked for $128M - biggest DeFi hack all year, OG protocol https://x.com/Balancer/status/1985390307245244573 https://x.com/Balancer/status/1986104426667401241 https://x.com/hasufl/status/1985284234064408997 https://x.com/suhailkakar/status/1985331523646615664 https://x.com/peckshieldalert/status/1985281156259201044 https://x.com/berachain/status/1985288599152042101 https://x.com/hosseeb/status/1985394967712510295 https://x.com/RyanSAdams/status/1985707754636345619 44:57 Did Brian Armston manipulate a CFTC regulated market? https://x.com/0xTyrael/status/1984023540111437882 https://x.com/brian_armstrong/status/1984048706220609998 https://x.com/hasufl/status/1984253822898962867 https://x.com/adamscochran/status/1984077017738801420 https://x.com/kylascan/status/1984304278882877849 https://x.com/jdorman81/status/1984284538210779428 https://x.com/VitalikButerin/status/1984254951141593470 https://x.com/probaaron/status/1984039423412203558 https://x.com/hosseeb/status/1986496773737881907 53:22 Ethereum L2s scaling & RWAs https://www.growthepie.com/ethereum-ecosystem/metrics https://x.com/RyanSAdams/status/1986440364014620943 https://stokes.io/blob-scaling-fyi/ https://x.com/tomwanhh/status/1983657507940893158 https://app.rwa.xyz/ 57:24 Is BlackRock bullish or bearish for crypto? https://x.com/WhaleInsider/status/1983924685382295782  https://x.com/0xMert_/status/1985071565042749663 1:05:33 Closing & Disclaimers ------ 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 is the first week of November.

0:06.5

I've got Haseeb Qureshi filling in for David Hoffman.

0:08.8

David is up climbing a mountain.

0:10.3

I think he's somewhere in the Patagonia right now.

0:12.4

Hopefully he's doing some work for us, Hoseed.

0:15.2

Hopefully he's like slaying some ballrogs.

0:17.7

He's fighting some demons.

0:19.5

And he's going to save us from this bear market. Yeah. I don't know if I could rely on David to do that right now. It kind of feels like this bear market's coming for us, whether Dave is out there or not. Oh, my God. Well, we've got to talk about that. It feels like we are, so one topic, of course, we were just hanging above crucial price levels for Bitcoin, the 50-week moving average,

0:38.8

is the bull market over. I want your perspective on that. Also, there was a major setback in

0:43.0

Defi this week. A four-year-old protocol was hacked. Actually, it's even longer than that. The

0:48.7

Balancer Protocol. What's the fallout? Also, October 10th, maybe we're starting to get some dead bodies rising to the surface after that major liquidation event.

0:59.3

We've got Steam Finance, which is like this quasi-D-Fi stable coin hedge fund thing that has imploded.

1:05.9

Are there more dead bodies out there?

1:08.2

And I want to get your perspective on this to see Brian Armstrong.

1:10.9

He had some fun with prediction markets on the Coinbase earnings call. Some people didn't like

1:16.3

that he was having fun about this. So what does this say about prediction markets?

1:21.2

All that and more. We'll get to that. I do want to call your attention, Bankless Nation,

1:24.5

to a Uniswap survey and an opportunity for you to win some Uniswop Uno Swap decks. So this has got to be a deck of cards. I haven't seen it yet. It's like a Uniswap themed Uno deck of cards. All we need you to do is complete a survey that's going to be in a link in the show notes and you can get a chance to win. They just want some information from the bankless community. So go do that. You could win an Uno deck. Haseeb, did you ever get the Unisox back in the day from Uniswap? I did not have any Unisox, but I know several people who did and who flex them on me. Very jealous of the Unifoc. Yeah. So are they still valuable or have they gone to zero

2:01.1

with the rest of the NFTs?

2:19.3

I don't know. It's a good question. It was like a physical item attached to a token, right? Yeah, that's right. That's right. Okay. Yeah, I don't know. Well, maybe there's a future for these uno swap cards in your portfolio as well. Let's start here, though. Bitcoin prices on the week, they are down at the time of recording $101,400. So that's down about 6.5% on the week. We got as low as 99,600 on Bitcoin.

2:30.1

And we're just floating above that ether price on the week, 3,300.

2:37.7

So down about 12.5% on the week.

...

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