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Tokenized stocks have long been a crypto dream, but are they real yet?
Gabriel Otte, founder of Dinari, joins to break down the current landscape. We cover what tokenized stocks actually are, why regulatory hurdles make them complex, how Dinari secured the first broker-dealer license for tokenized public shares, and what this means for on-chain finance.
We also explore the limitations of current tokenized stock offerings, Robinhood’s moves, and whether true DeFi composability is possible for equities.
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TIMESTAMPS
0:00 Intro
4:08 Tokenized Stocks 101
5:47 Why is it Taking so Long?
8:48 Traditional Stocks Infra
24:07 Broker Dealer Licenses
27:55 Dinari Tokenized Stocks
30:48 What is an ATS?
32:51 What about Exchanges
35:13 Tokenization Benefits
47:16 Pitching to Wall Street
51:49 The State of Tokenized Stocks
1:03:48 Hype or Real?
1:07:15 Stablecoin Analog
1:10:25 Tokenizing Private Companies
1:17:07 New SEC
1:21:04 What’s Next?
1:23:03 Cancer Research to Crypto
1:28:43 Closing & Disclaimers
------
RESOURCES
Gabriel Otte
https://x.com/GabeOtte
Dinari
https://dinari.com/defi
Dinari granted first broker-dealer registration to offer tokenized stocks
https://www.reuters.com/sustainability/boards-policy-regulation/dinari-granted-first-broker-dealer-registration-offer-tokenized-stocks-2025-06-26/
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
This week, Ryan and David celebrate Bitcoin's new all-time highs as Ethereum sentiment explodes. ETH treasury firms are racing to stockpile billions, Fidelity is framing ETH as a store-of-value, and mainstream media is finally paying attention. So why isn't the price moving faster?
They unpack the $8.6 billion Bitcoin whale awakening, Pump's $4 billion ICO, and crypto's "what color is the dress" moment with Zelensky's suit. Plus, Hyperliquid beats Solana at its own game, Robinhood pushes tokenized stocks, and prediction markets face a credibility crisis.
Also, is ETH gearing up for a vertical breakout or just stuck in a bullish echo chamber?
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TIMESTAMPS & RESOURCES
0:00 Intro
1:46 Markets
https://thequantuminsider.com/2025/07/08/did-quantum-fears-prompt-a-bitcoin-whale-to-make-an-8-billion-move/
https://x.com/Pentosh1/status/1942578558498427027
https://x.com/l3olanza/status/1943010575623074228
https://x.com/RyanSAdams/status/1943306201007034471
https://x.com/sassal0x/status/1943155217500897660
https://x.com/cryptomanran/status/1942854141308723597
https://x.com/RyanSAdams/status/1943014863359398166
https://x.com/SharpLinkGaming/status/1942320301414457777
https://x.com/Jrag0x/status/1942631804038443405
https://x.com/BitDigital_BTBT/status/1942954089647833552
https://www.strategicethreserve.xyz/
https://x.com/RyanSAdams/status/1942911577037963452
https://x.com/fabdarice/status/1943205144436629554
https://x.com/RyanSAdams/status/1942742550982373816
https://x.com/RyanSAdams/status/1943097344427245908
https://x.com/smyyguy/status/1942974829537165788
https://x.com/RyanSAdams/status/1942676961681170592
https://x.com/TrustlessState/status/1942628566610358756
https://x.com/SolanaFloor/status/1942955685534167471
https://x.com/EricBalchunas/status/1942963302109524450
https://farside.co.uk/sol/
https://x.com/solidintel_x/status/1943280583808798761
29:58 Pump.fun’s ICO will kick off this weekend!
https://x.com/pumpdotfun/status/1942947267436056740
https://x.com/whosknave/status/1942956245331370390
https://x.com/a1lon9/status/1942948097237172509
https://x.com/a1lon9/status/1942948099854328150
https://blockworks.co/analytics/solana/solana-launchpads/solana-launchpad-volume/
37:51 What happened with Polymarket and the bet over Zelenky’s outfit?
https://imgur.com/a/2vfr3Hy
https://www.youtube.com/watch?v=9dgAzRF96m4
https://x.com/BanklessHQ/status/1942592467120832784
https://polymarket.com/event/will-zelenskyy-wear-a-suit-before-july?tid=1751599304475
https://x.com/dieworkwear/status/1941013198465114263
https://x.com/Atlantislq/status/1940428544594563581
https://dune.com/queries/1096172/1874464
47:33 Phantom added Hyperliquid perps into its wallet
https://x.com/phantom/status/1942628993636917311
The choice of Hyperliquid was surprising!
https://x.com/DefiSolar/status/1942657673994068081
https://dune.com/uwusanauwu/perps
https://x.com/pumatheuma/status/1942669033771536640
51:24 Tornado Cash win!
https://x.com/valkenburgh/status/1942262643546292443
https://x.com/RyanSAdams/status/1941876192476275098
https://freeromanstorm.com/
54:52 Foundations are making moves
https://x.com/solana/status/1942945696061313306
https://x.com/monad_xyz/status/1942933687978365289
57:24 Jack Dorsey introduced a decentralized messaging without internet
https://x.com/DocumentingBTC/status/1942351534009807179
58:43 Is Robinhood might be in trouble in the EU over its tokenized stocks?
https://www.theblock.co/post/361534/robinhood-engaged-with-regulators-over-tokenized-stocks
https://x.com/RyanSAdams/status/1943009436546560432
1:04:21 Closing & Disclaimers
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Recorded live at the Permissionless IV conference, this conversation dives into Ethereum’s strategy to win over Wall Street.
Danny Ryan discusses how Etherealize is advising financial institutions to leverage Ethereum’s decentralization, resilience, and credible neutrality, while Joe Lubin explains why ConsenSys is taking a direct approach by accumulating ETH on Sharplink Gaming’s balance sheet, similar to MicroStrategy with Bitcoin.
Together, they unpack Ethereum’s strengths, institutional adoption strategies, and what it will take for Ethereum to become the foundation of the next-generation financial system.
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------
TIMESTAMPS
0:00 Intro
3:11 Ethereum's Evolution & Challenges
7:54 Regulatory Tensions & SEC Scrutiny
11:02 Ethereum's Resilience Against Regulation
14:47 Bridging TradFi & Decentralization
16:06 Institutional Adoption of Ethereum
17:19 Ethereum's Path Forward
21:51 Building for the Future
23:40 The Call for Problem Solving
24:41 Ethereum's Leadership Dynamics
33:25 Taking Ethereum to Wall Street
35:17 The Future of SBET & Ether
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RESOURCES
Joe Lubin
https://x.com/ethereumjoseph
Danny Ryan
https://x.com/dannyryan
Permissionless IV
https://blockworks.co/event/permissionless
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Cathie Wood is placing some of the boldest bets in investing history, spanning AI, robotaxis, brain chips, crypto, and even space. In this episode of Bankless, the ARK Invest CEO joins Chief Futurist Brett Winton to break down her five highest-conviction technologies - opportunities she believes could unlock over $20 trillion in enterprise value.
You’ll hear why Elon Musk’s empire is at the center of it all, how Tesla’s robotaxis could become the biggest AI project on Earth, and why Neuralink, Starship, and stablecoins are converging to spark a new era of productivity and exponential growth.
This isn’t just tech optimism - it’s Cathie Wood’s vision for the future of innovation.
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---
TIMESTAMPS
0:00 Intro
5:05 Elon Musk and the Data Flywheel
11:57 The Power of Wright’s Law
19:27 Forecasting AI’s Trillion-Dollar Impact
23:35 Why ARK Owns xAI, OpenAI, and Anthropic
29:04 Google and Apple’s AI Blindspots
35:52 Why X Merged with xAI
44:15 Robotaxis: The Biggest AI Project on Earth
52:02 Robo GDP: AI’s Real-World Economic Boost
55:31 Tesla’s Scaling Advantage
1:01:27 The Humanoid Opportunity
1:10:42 Neuralink: AI, Enhanced
1:15:34 Starlink & SpaceX: The $2.5T Bet
1:22:01 Crypto’s Stablecoin Supercycle
1:33:18 Macro & Trump’s Strategy
---
RESOURCES
Cathie Wood
https://x.com/CathieDWood
Brett Winton
https://x.com/wintonARK
Ark’s SpaceX Report
https://www.ark-invest.com/articles/valuation-models/ark-expected-value-spacex-2030
---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Welcome to the Weekly Rollup, where we cover the latest news in crypto.
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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———
TIMESTAMPS & RESOURCES
0:00 Intro and EthCC
5:30 MARKETS
https://www.coingecko.com/en/coins/bitcoin
7:30 Solana ETF
https://x.com/EricBalchunas/status/1940436515798348195
https://www.tradingview.com/chart/V7YvdegA/?symbol=CBOE%3ASSK
12:20 MACRO
https://x.com/TheStalwart/status/1940749966542360844
https://x.com/HadickM/status/1940754843838341559
https://imgur.com/uBt5LkP
https://x.com/KobeissiLetter/status/1939684213672038840
https://polymarket.com/event/who-will-trump-announce-as-next-fed-chair
19:00 The Big Beautiful Bill
https://polymarket.com/event/reconciliation-bill-passed-by?tid=1751541176019
https://www.foxnews.com/politics/trumps-big-beautiful-bill-clears-final-hurdle-before-house-wide-vote
https://x.com/SenLummis/status/1939730903045218395
23:00 Robinhood Chain and Tokenized Stocks
https://x.com/smyyguy/status/1939725345772470671
https://x.com/RobinhoodApp/status/1939701274217460047
https://x.com/BanklessHQ/status/1940054189914145198
https://x.com/RobinhoodApp/status/1939706469966135442
https://x.com/RobinhoodApp_EU/status/1939709899690098770
https://x.com/vladtenev/status/1939713633392480417
https://x.com/OpenAINewsroom/status/1940502391037874606
https://x.com/vladtenev/status/1940547859532612028
https://x.com/0xren_cf/status/1940077604939129253
https://x.com/vladtenev/status/1940308314144883074
https://x.com/BanklessHQ/status/1940468665235001656
https://x.com/RobinhoodApp/status/1939703096168362170
https://x.com/hosseeb/status/1940050920483823819
https://www.tradingview.com/chart/1CDu50yK/?symbol=NASDAQ%3AHOOD
https://x.com/iamDCinvestor/status/1939711492397703307
https://open.spotify.com/episode/6XTj2K0YAtXIgYPpGrK0xg?si=ef33fb6a0e394acd
https://backed.fi/news-updates/xstocks-are-going-live-tokenized-stocks-for-the-defi-era
https://x.com/0xMert_/status/1939761568029225224
https://x.com/gemini/status/1938688845597577591?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g
https://thedefiant.io/news/tradfi-and-fintech/dinari-wins-first-u-s-broker-dealer-license-tokenized-stocks-667afe25
https://sbt.dinari.com/tokens?tokenSymbol=AAPL.d
https://x.com/HadickM/status/1940018046833201168
https://www.theblock.co/post/360853/financial-industry-group-pushes-back-on-tokenized-equities-urges-sec-to-reject-crypto-firms-exemptions
https://www.cnbc.com/video/2025/07/02/sec-chairman-paul-atkins-on-regulating-private-markets-rise-of-stock-tokenization.html
47:20 Tom Lee Bullish ETH
https://www.tradingview.com/chart/V7YvdegA/?symbol=AMEX%3ABMNR
https://x.com/CNBC/status/1939658101193322537
https://x.com/RyanSAdams/status/1939686608254460283
https://x.com/sharplinkgaming/status/1940078442579644420
53:50 NEWS
https://x.com/tier10k/status/1940133141546770454
https://x.com/coinbase/status/1940385699653652500
https://x.com/zachxbt/status/1940388827392344261
https://x.com/RyanSAdams/status/1940480126925656343
https://www.youtube.com/live/zo72TWXrc3Y
———
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
David from Blockworks and Omar from Dragonfly join the show to debate Coinbase vs Robinhood, two companies racing to become the dominant financial super app. We break down their business models, growth strategies, tokenized asset plays, and how each is approaching crypto, equities, and infrastructure. Will Robinhood’s slick UX and expanding product suite win the next generation? Or will Coinbase’s onchain infra and stablecoin moat prove unbeatable?
Omar & Dragonfly
https://x.com/TheOneandOmsy
https://x.com/Dragonfly_xyz
David & Blockworks
https://x.com/EffortCapital
https://x.com/BlockworksAdv
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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
---
TIMESTAMPS
0:00 Intro
2:37 Understanding Coinbase
8:31 Coinbase B2B
13:39 Comparing Revenue, Valuation, & Infrastructure
23:12 Future Growth of Coinbase
28:14 Understanding Robinhood
38:22 Robinhood Competition
45:42 Robinhood 2021 Crisis Explained
48:14 Robinhood Bank
52:02 Tokenized Stocks & L2
55:32 Defending the Coinbase Moat
1:06:19 Forecasting Robinhood’s Future
1:11:08 Forecasting Coinbase’s Future
1:15:31 Closing & Disclaimers
---
Not financial or tax advice. See our investment disclosures here:
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Crypto prices seem stuck. Is that about to change?
Michael Nadeau of the DeFi Report returns to unpack what onchain data says about Bitcoin, ETH, and altcoins. We dive into why the market may be coiling beneath the surface, whether altcoins are due for a “hate rally,” and how valuation metrics reveal surprising accumulation trends. Michael also shares his current portfolio moves, including high-beta bets like Pepe and ENA, and lays out the macro triggers that could spark the next leg up.
Michael Nadeau & The DeFi Report:
https://x.com/JustDeauIt
https://thedefireport.io
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
---
TIMESTAMPS
0:00 Intro
2:19 The HODLer's Fallacy: Rethinking Conviction in a Naturally Extractive Market
https://mirror.xyz/sreevanth.eth/6unQ_oX9sQFkvjPi3yehVi6M7Ak2t1V5hzyWYs9yUi4
7:03 BTC Onchain Data & Price Explanation
15:23 Altcoin Season Index
23:24 ETH & Solana Onchain Data
32:30 Beta Assets Bull Case
38:46 Ethena Memo
https://thedefireport.io/research/ethena-memo
51:14 Crypto Equities
55:45 Liquity & The Macro Setup
1:00:53 Michael’s Portfolio Today
1:02:31 How to Value an L1
https://thedefireport.io/research/how-do-you-value-an-l1
1:02:53 Quarterly Reports
1:04:40 Closing & Disclaimers
---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
In this series of three interviews from Cannes, we host Vlad Tenev, CEO of Robinhood, Johann Kerbrat, GM of Crypto at Robinhood, and AJ Warner from Arbitrum to explore key announcements from their recent Token Summit. They discuss the introduction of tokenized stock options for private companies like SpaceX and OpenAI, aiming to democratize access for retail investors.
Vlad highlights Robinhood’s commitment to addressing investment inequities, while Johann shares insights on the technological challenges and their Layer 2 blockchain initiative facilitating 24/7 trading. They also navigate the regulatory landscape with the SEC and CFTC, envisioning a future where private shares become accessible and entrepreneurial capital raising is enhanced. The conversation wraps up with plans to improve user experience for new financial products in Robinhood’s evolving crypto offerings.
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
------
TIMESTAMPS
0:00 Interview with Vlad Tenev
21:00 Interview with Johann Kerbrat
37:30 Interview with AJ Warner
------
RESOURCES
Vlad Tenev
https://x.com/vladtenev
Vlad’s Washington Post Op-Ed
https://www.washingtonpost.com/opinions/2025/01/28/investing-crypto-tech-robinhood-stock-market/
Johann Kerbrat
https://x.com/johannkerbrat
AJ Warner
https://x.com/ajwarner90
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Sam Dogen, founder of Financial Samurai and one of the original F.I.R.E. voices, joins Ryan Sean Adams to break down the path to financial independence, whether you're investing in crypto or other asset classes.
They unpack 10 milestones to millionaire status, from mindset and momentum to investing, real estate, and entrepreneurship. Sam and Ryan go deep on how to avoid financial landmines, get on the same page with a partner, and define a life where money serves purpose, not the other way around. If you want your net worth to grow without losing your life to the grind, this episode is your roadmap.
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🌐CELO | BUILD TOGETHER AND PROSPER
https://bankless.cc/Celo
🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
------
TIMESTAMPS
0:00 Intro
5:56 Millionaire Mindset
9:34 The Probability of Becoming a Millionaire
10:58 Understanding Your Why
12:46 Freedom Through Finance
17:07 Signs You’ve Reached Independence
19:52 How Much Should You Have?
22:20 Saving: Where to Begin
26:48 The 50% Rule
29:21 The Magic of $250.000
32:30 Smart Debt vs Smart Risk
34:44 What Assets Build Wealth?
37:31 Buying Your First Home
43:00 Easy Wins in Property
47:14 Income That Frees You
49:22 Cars That Kill Wealth
52:55 Why Ownership Beats Income
59:56 Location = Opportunity
1:02:38 Design Your Financial Life
1:04:28 Build Wealth as a Team
1:06:43 Redefining Retirement
1:08:41 Lightning Round
1:12:53 Closing
------
RESOURCES
Sam Dogen
https://x.com/financialsamura/
Financial Samurai
https://www.financialsamurai.com/
Millionaire Milestones
https://www.amazon.com/Millionaire-Milestones-Simple-Steps-Figures/dp/0593714709
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
This week, David and guest co-host Tom Schmidt (Dragonfly) unpack a deceptively quiet crypto market with Bitcoin dominance hitting 66% and altcoins eerily still. What meta could flip the trend?
They dive into Circle’s explosive 10x IPO, Robinhood’s surprise crypto surge, and why Coinbase is finally catching up. Plus: the Kalshi vs. Polymarket drama, ICOs creeping back, and how meme coins might soon help you get a mortgage.
Also: Vitalik’s Layer 1 pivot, prediction markets heating up, and signs of a new retail cycle forming.
Tom Schmidt & Chopping Block
https://x.com/tomhschmidt
https://x.com/_choppingblock
https://x.com/dragonfly_xyz
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🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self
🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
------
TIMESTAMPS & RESOURCES
0:00 Intro
0:46 Tom’s crypto vibe check
1:50 Markets
26:53 Kalshi Series C
https://x.com/tomhschmidt/status/1937957381197185165
https://www.wsj.com/finance/prediction-market-kalshi-hits-2-billion-valuation-in-new-funding-round-2d0c8b4c
https://x.com/tomhschmidt/status/1937957381197185165
https://x.com/hosseeb/status/1938065110351716707
36:50 US regulator orders Fannie Mae, Freddie Mac to consider crypto for mortgages
https://x.com/pulte/status/1937944964656152800
https://x.com/crypto_bobby/status/1937951968619639046
43:44 Ethereum
https://x.com/TrustlessState/status/1936037598805590364
49:04 What Tom’s excited about
53:01 Closing & Disclaimers
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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