ROLLUP: Rate Cuts! | ZK Breakthroughs | Farcaster’s Pivot | SEC Onchain | NYT’s Stablecoin FUD

Bankless

[email protected]

Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 12 December 2025

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The final Fed meeting of 2025 delivered a surprise rate cut, but the real story is how the market is reacting. In this week’s Weekly Rollup, Ryan and David unpack what the new policy shift means for crypto liquidity, why regulators across the SEC, CFTC, and OCC are suddenly embracing onchain markets, and how Tom Lee’s massive ETH accumulation is reshaping sentiment. We also get into Ethereum’s growing momentum from ZK advancements and blob upgrades, the ZKsync Atlas rollout, Base’s bridge drama with Solana, and Farcaster’s pivot away from social. Plus, the rise of tokenization, new prediction market rails, and whether this week marks the first real cycle turn for Ethereum. ------ 📣REYA | ETHEREUM FOR TRADERS https://bankless.cc/reya ------ BANKLESS SPONSOR TOOLS: 🔵COINBASE | ETH & BTC BACKED LOANS https://bankless.cc/coinbase-borrow 🪙FRAXNET | MINT, REDEEM, & EARN https://bankless.cc/fraxnet 🦄UNISWAP LABS | SWAP NOW https://bankless.cc/uniswap-labs 🛞MANTLE | GLOBAL HACKATHON 2025 https://bankless.cc/mantle-hackathon 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep ------ TIMESTAMPS & RESOURCES 0:00 Intro 5:01 Markets https://x.com/EricBalchunas/status/1998424357232922883 https://www.theblock.co/post/381737/bitmine-13-2-billion-holdings-eth-treasury-expands-november-slowdown https://x.com/RyanWatkins_/status/1998529576331522334 https://x.com/MikeIppolito_/status/1998495400869900626 https://www.cnbc.com/2025/12/10/fed-interest-rate-decision-december-2025-.html https://x.com/jameslavish/status/1998835306800505140 https://x.com/KobeissiLetter/status/1998407015756964343 https://x.com/JustDeauIt/status/1998905919577452765 24:52 Farcaster is pivoting to a wallet https://farcaster.xyz/dwr/0xd29fe760 https://x.com/DefiIgnas/status/1997915182073626802 https://x.com/eth_call/status/1998406182092906534 http://x.com/nic_carter/status/1998813611997745386 https://x.com/TrustlessState/status/1999134280757235767 37:11 ZK … early stage of unleashing Ethereum’s vision https://x.com/zksync/status/1996678308214264145 https://x.com/zksync/status/1996678311997853752 https://x.com/StaniKulechov/status/1996990055043223659 https://x.com/zksync/status/1998405700637356056 https://x.com/Celo/status/1998780366988128562 47:06 Did Base launch a vampire attack on Solana’s liquidity? https://x.com/jessepollak/status/1996750308933091359 https://x.com/vibhu/status/1996698682545107247 https://x.com/0xyoussea/status/1997763313909092415 https://x.com/solana/status/1999035191323759024 52:30 Ethereum's first Blob Parameter Only (BPO) fork is now live on the network https://x.com/i/status/1998936032314523977 https://dune.com/hildobby/blobs 56:17 Regulators are doing a complete 180 https://x.com/OndoFinance/status/1998015670278148283 https://x.com/coinbureau/status/1997128653650657338 https://www.coindesk.com/policy/2025/12/08/cftc-launches-digital-assets-pilot-allowing-bitcoin-ether-usdc-as-collateral https://x.com/joechalom/status/1998421401049710686 https://x.com/WatcherGuru/status/1998379541132402987 https://www.fdic.gov/news/inactive-financial-institution-letters/2023/fil23001.html https://x.com/USComptroller/status/1998793576663187561 https://www.whitehouse.gov/presidential-actions/2025/08/guaranteeing-fair-banking-for-all-americans/ https://occ.gov/news-issuances/news-releases/2025/nr-occ-2025-123a.pdf https://www.bankless.com/read/news/occ-calls-out-americas-largest-banks-for-politicized-and-unlawful-debanking-behaviors https://www.theblock.co/post/381815/sen-moreno-calls-crypto-bill-talks-decently-frustrating-as-senate-races-toward-year-end-goal-posts 1:05:03 The New York Times put out an anti-stablecoin explainer piece https://x.com/0xDeployer/status/1997754736158900440 https://x.com/nic_carter/status/1997866686439928004 1:06:50 Gemini can now offer prediction markets in the US - Stock Surges Nearly 14% https://x.com/gemini/status/1998880024401973615 https://x.com/gondorfi/status/1998754620416344483 https://gondor.fi/ 1:07:49 Meme of the Week https://x.com/Bankless/status/1998064876892442788 1:09:36 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Transcript

Click on a timestamp to play from that location

0:00.0	Bankless Nation is the second week of December's time for the bankless weekly roll-up.
0:08.4	We got the latest Fed meeting, the last one of 2025, is now behind us.
0:12.8	We got a rate cut, okay?
0:14.6	Rates went down.
0:15.9	So can we be bullish now?
0:17.9	I don't know, maybe.
0:19.0	Depends what the prices are telling us on the week.
0:20.9	Actually, I don't know, David, are we, like, I don't know if we're flat or if we're down on the week or we're up. I just like, I have no, I have no sense of this. This is the information that people really tune in to the podcast to really get. I know. If you want to be bullish, You can be bullish, Ryan. Okay. That's okay. That's okay. I'll give you some things to be bullish about.
1:11.0	We're going to talk about ZK technology really maturing to the point of actually unlocking synchronous liquidity across the Ethereum roll-up design space. This is a ZK sync innovation. It's going live. It is live, fixing some of the fragmentation problems that we all know Ethereum has had, which is pretty cool. You said the S word, though. You said synchronous. I'm not sure if it's synchronous. It might be async, David. As I understand it, layer twos get to tap into layer one liquidity on their layer two, which means we don't... Is it atomically composable in a transaction? I don't think. Not quite. It's async. Not quite. It's happening in its own. But layer twos don't need their own liquidity anymore. Okay, so yes, maybe it's not synchronous, but it is one, there's one liquidity pool downstream of this innovation. I'm sorry if you're getting in the details. Let's just be bullish. It's bullish. Yeah, I got some things for you to not be bullish about crypto social.
1:32.0	We got some news around far castor quitting social and focusing onto wallets.
1:36.9	As it turns out, crypto has always been about assets and trading assets.
1:41.1	As we're going to talk about that and what that means.
1:43.0	And then also, Ryan's going to take us down perhaps memory lane about all of the three and four letter agencies that have done a 180 pivot when it comes to the regulation around crypto. And so I'm excited for that part of this roll. Yeah, especially this. Okay. This week, SEC chair, Paul Atkins, the anti-Gunsler, said this. This is a direct
2:02.9	quote I'm going to give you. You ready for this? All U.S. markets will be on chain within two
2:08.9	years. Wow. He used the term on chain. He doesn't mean 100% of the markets, but there will be an
2:17.1	instantiation of all U.S. markets on chain within two years, which is a very short amount of time. I don't know, David. All means all. He's saying all. We've got to take about all. Also, it's pretty funny that the OCC, remember they were debanking people last cycle? Well, this time, they're getting angry at the banks
2:34.8	for debanking people. They're doing some finger wagging out to tell you about that story. And a New York
2:40.2	Times article writes about stable coins. It was a stable coin explainer piece, except for the fact
2:45.1	they explained how stable coins are bad and dumb and we shouldn't have them. Wait, I thought the world
2:50.7	love stable coins. Not the New York Times. David, before we shouldn't have them. Wait, I thought the world love stable coins.
2:51.8	Not the New York Times.
2:53.4	David, before we get in, we got to shout out our friends and sponsors over at Raya.
	...

Transcript will be available on the free plan in 25 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from [email protected], and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of [email protected] and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.