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Bankless

ROLLUP: Coinbase Ships | JPMorgan Onchain | Solana Firedancer | Aave Civil War | DTCC Tokenizes

Bankless

Bankless

Technology, Tech News, News

4.71.2K Ratings

🗓️ 19 December 2025

⏱️ 64 minutes

🧾️ Download transcript

Summary

Crypto prices are down, but the most important players are still building. In this week’s Weekly Rollup, Ryan and David break down Coinbase’s push to become a financial super app, JPMorgan’s first tokenized money market fund on Ethereum, and why regulators are quietly opening the door for onchain settlement through DTCC pilots. They also unpack Solana’s Firedancer finally going live, the growing fight over tokenholder rights at Aave and what Uniswap’s unification proposal gets right, and why tokenization and prediction markets are advancing faster than prices suggest. --- 📣M0 | THE UNIVERSAL STABLECOIN PLATFORM https://bankless.cc/m0  --- BANKLESS SPONSOR TOOLS: 🔵COINBASE | ETH & BTC BACKED LOANS https://bankless.cc/coinbase-borrow 🪙FRAXNET | MINT, REDEEM, & EARN https://bankless.cc/fraxnet 🦄UNISWAP | CONTINUOUS CLEARING AUCTIONS https://bankless.cc/uniswap-cca 🛞MANTLE | GLOBAL HACKATHON 2025 https://bankless.cc/mantle-hackathon 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep --- TIMESTAMPS & RESOURCES 0:00 Intro 2:14 Markets https://www.google.com/finance/beta/quote/BTC-USD?hl=en&window=1Y&comparison=SOL-USD%2CETH-USD&type=line https://www.coindesk.com/markets/2025/12/12/barclays-sees-down-year-for-crypto-in-2026-without-big-catalysts https://www.nbcnews.com/business/economy/cpi-november-inflation-rate-rcna249847 https://x.com/0xNonceSense/status/2000561186497233247  https://x.com/leshka_eth/status/2000738467953967362 12:38 Bankless Announcements https://x.com/Bankless/status/2001694903084937469 https://www.bankless.com/ico-watch/ https://x.com/JustDeauIt/status/2001380424329892009 20:12 Coinbase System Update https://x.com/i/broadcasts/1BRJjgWpwwpxw  https://www.coinbase.com/ccm https://dune.com/entropy_advisors/robinhood-stock-tokens https://www.coinbase.com/prediction-markets https://app.morpho.org/base/borrow https://swap.cow.fi/#/1/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/GOOGLON 37:50 Aave Drama, v4 & the 2026 Master Plan https://governance.aave.com/t/aave-cowswap-integration-tokenholder-questions/23530 https://x.com/aave/status/1996591393817473247 https://x.com/DefiIgnas/status/1999728596626342177 https://www.circle.com/blog/circle-signs-agreement-to-acquire-interop-labs-team-intellectual-property https://x.com/howdymerry/status/1991932582938943798 https://x.com/haydenzadams/status/2001566377656602705 https://x.com/StaniKulechov/status/2001036446098919461 https://x.com/RyanSAdams/status/2001303903447466476 47:20 Solana BreakPoint https://x.com/solana/status/1999399841957576741 https://x.com/phantom/status/1999442547039756491 https://x.com/jerallaire/status/2000926577727562023 https://x.com/theoneandomsy/status/1999654845607710749 52:48 SEC says DTCC can tokenize stocks https://x.com/Snapcrackle/status/1999389068321300814 https://www.youtube.com/watch?v=CS5cDEyEf38 https://www.dtcc.com/news/2025/december/17/dtcc-and-digital-asset-partner-to-tokenize-dtc-custodied-us-treasury-securities https://www.coingecko.com/en/coins/canton 57:06 JPMorgan launched their first ever tokenized money market fund - Ethereum https://x.com/ethereum/status/2000665928598524014 57:56 Do Kwon was sentenced to 15 years in prison  https://x.com/zoomerfied/status/1999237162361888869 59:43 New York Times put out another anti-crypto piece  https://x.com/intangiblecoins/status/2000334663479447557 https://x.com/EricBalchunas/status/2000573428093341865 1:01:23 Netflix announced new Bitcoin comedy  https://x.com/BitcoinArchive/status/1999491003451867515 1:03:02 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 third week of December last week before the holidays.

0:08.0

Time for the Bankless Weekly roll up. We've got some Coinbase updates. December 17, that was a date on which they were supposed to give an announcement.

0:16.0

And they definitely gave an announcement. They had their system update, announced a whole bunch of things. We're going to cover all of them. And my big question, going into this was, did we just get tokenized stocks yet? Hmm. Kind of. Hold your breath. We'll let you know, but not just Coinbase. Also, bankless, that's us, shipped two new products this week that had the entire industry on the edge of their seats. What did bankless ship? We're going to talk about the cool new things that we introduce into the market. And we're also going to talk about the AVE equity versus token misalignment conversation. I was wondering if that was going to be a thing. I was wondering how come Avey just escaped all of the token equity misalignment conversations? Turns out they didn't. What triggered it? How is it going to get resolved? Also, Salana, they had their breakpoint conference and they announced a number of things, including Salana's Fire Dancer upgrade. So we'll talk about that. J.P. Morgan, the biggest bank in the U.S., they finally deployed something directly on Ethereum L1. I think it's a big

1:12.8

deal. We'll talk about that as well. But before we do, got a shout out our friends and sponsors over

1:17.1

at M0. Tell us about M0, David. Stablecoins are the killer app of crypto. You know it. I know it. M0

1:24.0

knows it. But right now, the current system of stable coins just fragmented, just digital silos,

1:29.0

digital islands of liquidity that do not talk to each other.

1:32.0

M0 was the first to come up with a very simple solution, stable coins that brands can

1:36.2

wrap and customize while maintaining fungibility with the underlying assets.

1:40.8

That means there's one large pool of liquidity without conformity,

1:44.9

which is what makes the M0 architecture unique. M0 was our partner over at the Bankless Summit.

1:50.5

Ryan, I know you watched Lucas talk at the Bankless Summit. It was all about money. It was very cool.

1:54.0

Highly recommended for anyone who wants to get that money philosophy itch scratch, which is where

1:59.1

this podcast started. If you want to learn more about

2:01.5

m0 bankless dot cc slash m zero m zero is making me want to launch a bankless staple coin david

2:07.1

i don't know what we do with it but i don't know they make it so easy i feel like we should

2:10.9

at some point it's what the market wants it's what is the market want right now what is the

2:16.7

market want tell us what are the bitcoin prices the market want right now? What is the market want?

2:18.9

Tell us, what are the Bitcoin prices? The market wants specifically $86,400 Bitcoin, which happens to be down percent, down 4%.

2:25.2

I'm part of the market.

2:25.4

That's not what I want.

2:26.3

That's not what you want?

...

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