ROLLUP: Markets Spooked? | MegaETH & Monad Mania | New CFTC Chair | Base & Polymarket Tokens? | Circle Arc Backlash

Bankless

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Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 31 October 2025

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets got the treat they were waiting for with a Fed rate cut and pause on quantitative tightening, but prices still fell. Why? This week, Ryan and David break down why the markets got spooked, what Powell really said about December cuts, and what it means heading into November. We also cover MegaETH’s oversubscribed ICO, Monad’s airdrop, Polymarket’s confirmed token, and JP Morgan’s $34B Base token estimate. Plus Solana’s new ETF, Western Union’s stablecoin, Circle’s controversial L1 launch, the X402 payment boom, and the latest on Consensys and Securitize IPOs. ------ 📣BANKLESS SUMMIT 2025 | SPONSORED BY M0 https://bankless.cc/devconnet-2025 https://bankless.cc/m0 ------ BANKLESS SPONSOR TOOLS: 🪙FRAXNET | MINT, REDEEM, EARN https://bankless.cc/fraxnet 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR L2 NETWORK https://bankless.cc/Mantle 🌳KGEN | REQUEST A DEMO https://bankless.cc/KGEN-podcast 💠BIT DIGITAL ($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 5:03 Markets https://www.tradingview.com/chart/1RYLG2gC/ https://www.tradingview.com/chart/1RYLG2gC/ https://x.com/fundstrat/status/198307855327420049 https://x.com/KobeissiLetter/status/1983595486259950049 https://polymarket.com/event/fed-decision-in-december?tid=1761832318180 https://x.com/KobeissiLetter/status/1983613170691535094 https://x.com/KobeissiLetter/status/1983606477479899214 https://x.com/TKL_Adam/status/1983560866436927875 https://x.com/KobeissiLetter/status/1983855569996861631 https://www.coindesk.com/markets/2025/10/28/solana-etfs-could-draw-over-usd3b-if-bitcoin-ether-etf-trends-repeat https://x.com/ETHZilla_ETHZ/status/1982901255782445420 https://www.strategicethreserve.xyz/ 30:32 3 of the most exciting tokens this year & new valuations! It’s token launch season! https://x.com/megaeth/status/1983188518756339906 https://x.com/TrustlessState/status/1982831157491184073 https://x.com/megaeth/status/1982502453515071847 https://x.com/kunalgoel/status/1983304334835077425 https://x.com/0xd1namit/status/1981661321101009388 https://claim.monad.xyz/ https://app.hyperliquid.xyz/trade/MON https://app.hyperliquid.xyz/trade/MEGA https://www.theblock.co/post/376134/coinbases-base-token-could-be-worth-34-billion-jpmorgan-says 44:36 Circle’s Arc EVM L1 goes to public testnet - RSA triggered https://www.arc.network/blog/circle-launches-arc-public-testnet 47:00 x402 gets its first signs of traction - 200,000% growth week over week https://www.x402scan.com/ https://dune.com/programmer/x402 52:27 Trump names Michael Selig to chair CFTC https://x.com/CoinMarketCap/status/1983262571277762907 https://www.youtube.com/watch?v=fPdqwebmJzE https://x.com/davidsacks47/status/1982009725110600145 https://x.com/cdixon/status/1981834098932167131 53:41 Trump Media is about to launch a prediction market https://www.bloomberg.com/news/articles/2025-10-28/trump-media-plans-to-enter-booming-prediction-markets-business https://x.com/WatcherGuru/status/1982976302803234955 56:46 Western Union is building exclusively on Solana https://x.com/solana/status/1983215174883430839 https://x.com/DegenerateNews/status/1983265904348803569 https://x.com/camillionaire_m/status/1983506060343185571 https://x.com/0xMert_/status/1983517171234861273 https://x.com/calilyliu/status/1983386544271704528 https://x.com/vibhu/status/1983568810360643945 1:03:21 3 themes this cycle: Acquisitions, Banks, IPO https://aave.com/blog/stable-acquire https://x.com/farcaster_xyz/status/1981398124242620852 https://www.wsj.com/finance/regulation/zelle-stablecoin-cryptocurrency-7ef515e7 https://www.coinbase.com/blog/coinbase-and-citi-collaborate-to-build-the-future-of-payments https://x.com/brian_armstrong/status/1982850023718105337 https://www.prnewswire.com/news-releases/securitize-the-leading-tokenization-platform-to-become-a-public-company-at-1-25b-valuation-via-business-combination-with-cantor-equity-partners-ii-302596208.html https://app.rwa.xyz/platforms https://www.theblock.co/post/376845/metamask-parent-consensys-pursues-ipo-jpmorgan-goldman-axios 1:09:55 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 October, and we should tell everyone, happy Halloween,
0:09.5	because it is Halloween day.
0:12.0	I missed the costume, David.
0:14.5	Yeah.
0:15.8	I had some ideas.
0:16.6	Costumes were tough this year.
0:17.9	Didn't come together.
0:18.8	I know you had a fantastic idea.
0:20.8	Why didn't you tell me what you were planning to be so I could just imagine it in my head for the rest of this roll-up? Well, I was very excited to do the costumes, but then when I discovered that my co-host did not have his costume, I took my costume off and I packed it up. Yes, he did. I was going to be wearing all my mountaineering gear. So you could imagine a climbing helmet, my two ice axes, a harness, some rope slings, my jacket. I actually really want to see that. That would be a sweaty podcast, though. Like, you would have been overheated by the finish. Yeah, there would have been a lot of like Gortex going on. Open some windows.
1:10.7	All right, so I ran downstairs to see if I had anything and all I had was a Sam Begman-Fried wig, believe it or not. Which is your costume from like two years ago. Yes. And you've already done that one. And a Gryff and a wand is my kids. And I don't know how those go together. Yeah, so we couldn't make it work. But what I wanted to be, what I thought of this morning was actually just like bald.
1:13.3	Just like the bald is bullish. Just for the market. Just bald. I'm not going to come off my hair for that. That would have been good. Anyway, happy Halloween to everyone who is actually dressed up. We got a lot to talk about today. It's time for the Bankless Weekly roll-up, of course. We got a glimpse of October earlier this week. I thought it was action. The month was green between the days of Monday through Wednesday of this week. Yeah. Yeah, I thought we were back, baby. But Powell, then Powell's speech happened. And it seemed like he gave us everything I thought we wanted, but the markets hated it.
1:45.1	We've got to talk about that.
1:45.9	What's spooked markets?
1:46.9	Why are we going down?
1:49.0	We got some crypto-native tokens to talk about.
1:51.7	Mega-Eath hit its ICO target within minutes.
1:57.0	It is now 28 times oversubscribed to the Mega-Eath ICO.
1:59.6	We also have the Mon Ed token to talk about.
2:04.7	We got valuations for both of those. And from the words of a polymarket executive, we have a polymarket token to talk about as well. Yeah. And the CFTC got a new
2:12.6	nomination finally. They've got a chairman coming in. Also, J.P. Morgan tells us exactly how much the base
2:18.5	token would be worth. Stay tuned for the answer there if, of course, Coinbase launched a token.
2:24.3	And Solana racks up two wins on the week. They got an ETF. Their first staking ETF in size
	...

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