ROLLUP: Markets Down | Tether $500B Raise | South Park x Polymarket | Gensler Grilled

Bankless

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Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 26 September 2025

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week’s Weekly Rollup, we break down “Downtemper” market moves as Bitcoin and Ethereum slide, and examine why Vitalik Buterin is calling low-risk DeFi Ethereum’s true backbone. We highlight Tether’s ambitious $500B raise, Polymarket’s mainstream moment on South Park, and Gary Gensler’s testy CNBC appearance. We also cover Paul Atkins’ push for pro-crypto regulation, the heated debate over whether Base should be regulated like Nasdaq, and the surprising deletion of 86 million bank accounts in Vietnam as digital ID mandates expand. ------ 📣0G | CRYPTO X AI https://bankless.cc/OGAI ------ 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 🎩DEGEN | JOIN THE COMMUNITY https://bankless.cc/degen 🌳KGEN | REQUEST A DEMO https://bankless.cc/KGEN-podcast 🏄SURF | UPGRADE YOUR CRYPTO RESEARCH https://bankless.cc/surf ------ TIMESTAMPS & RESOURCES 0:00 Intro 4:16 Markets https://x.com/PeterSchiff/status/1971193227807162797 https://x.com/tomleeupdates/status/197097365172296 1041 https://x.com/TheOneandOmsy/status/1969076691478696325 7:38 BitGo IPO https://x.com/jseyff/status/1969143764535972186 9:51 Tether $500B Raise https://www.reuters.com/business/crypto-firm-tether-eyes-500-billion-valuation-major-raise-round-bloomberg-news-2025-09-23 17:06 Polymarket / South Park https://x.com/Polymarket/status/1970829572842065995 https://x.com/aleximm/status/1971063404308918630 https://x.com/Polymarket/status/1971137036863275056 https://x.com/martypartymusic/status/1970125767460950181 23:43 Gary Gensler / Paul Atkins / CFTC / Clarity Act https://x.com/altcoindaily/status/1968814029943480623 https://www.foxbusiness.com/video/6379979495112 https://x.com/vronirwin/status/1969775136959270993 https://x.com/amandalfischer/status/1970254506374938992 https://www.coindesk.com/policy/2025/09/10/trump-s-cftc-hopeful-quintenz-takes-his-dispute-with-tyler-winklevoss-very-public https://x.com/BrianQuintenz/status/1965855208195412356 https://www.theblock.co/post/371778/white-house-patrick-witt-market-structure-bill 39:25 Vitalik / DeFi / Coinbase https://vitalik.eth.limo/general/2025/09/21/low_risk_defi.html https://x.com/RyanSAdams/status/1969794415595077997 https://youtu.be/ADiEX92S58E https://x.com/brian_armstrong/status/1968708504547364921 43:53 Synthetix Perp Dex https://x.com/synthetix_io/status/1970237341760655656 https://www.bankless.com/podcast/how-synthetix-brings-perps-back-to-the-ethereum-l1-kain-warwick?ref=bankless.ghost.io 48:12 Base / Nasdaq Debate https://thedefiant.io/newsletter/defi-daily/should-base-be-regulated-as-an-exchange https://x.com/iampaulgrewal/status/1970206735206900038 https://x.com/MaxResnick1/status/1970250612399825075 https://x.com/VitalikButerin/status/1970258498996048247 https://x.com/jchervinsky/status/1970571188993958214 https://x.com/danrobinson/status/1970557854190051463 57:53 Coinbase + Cloudflare x402 https://x.com/CoinbaseDev/status/1970477072792592484 https://x.com/balajis/status/1952582943689556453 59:19 Vietnam Bank Account Purge https://x.com/alanvibe/status/1967643742653042698 https://x.com/RyanSAdams/status/1969390296812196325 1:03:47 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, it is the last week of September and God, David.
0:08.1	Last week of downtember.
0:09.7	Yeah, I'm glad it's the last week of September.
0:12.0	We finally got some down in downtember.
0:14.5	We did.
0:15.3	Well, this was promised.
0:16.2	So this is why I'm not worried, but the markets are definitely down on the week.
0:19.8	I'm just going to be glad it's over. We can get into October. And we can resume the bull market, right? That's
0:26.5	what the people are here for. That's what I'm here for. Did you see Peter Schiff's tweet today?
0:30.7	He's like, ETH is below $4,000 despite all of the Dats buy pressure, marking ether officially into a bear market.
0:38.8	Really?
0:39.6	Peter Schiff?
0:40.5	Peter Schiff tweeted that's actually bullish.
0:42.4	She's usually tweeting about Bitcoin.
0:44.4	So I'm honored to be like a part of his shit posting.
0:47.7	That's great.
0:48.0	They're in a bear market like two quarters of in consecutive down prices.
0:52.8	I don't know.
0:53.6	I guess so. We're in three weeks of down. Where does he get off, man? And also, does he not know it's down timber? We've always known that this was going to happen. There's no bear market is in down timber. It just cancels out. Yeah, no victory lapping. We will not accept it. We'll be back in October. A few things to talk about today, David. Vitalik. Getting bullish on Defi, he's got a
1:14.6	blog post heard around the world. We'll talk about that. What else we got? Polymarket featured on South Park,
1:20.8	perhaps like a top 10 mainstreaming moment for crypto. You watch South Park, right, Ryan? It's been a long time, but yes. Of course, everyone knows. I was a big fan of South Park episode or seasons like one through 15 and then now I lost back. But they did an entire episode on prediction markets and it was just all a polymarket, which is great. Tether raising money at an insane valuation. So we're going to talk about
1:45.5	the tether raise. What else? Gary Gensler makes an appearance. I really enjoyed this video
	...

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