Bankless

Tether CEO Paolo Ardoino returns to Bankless at a historic moment for stablecoins.

With the Genius Act advancing in the U.S. Congress, Paolo discusses what regulatory clarity means for Tether, the future of USDT, and the company’s plans to launch a domestic stablecoin.

We explore the Circle IPO hype, Tether’s eye-popping profits, its growing presence in the U.S. Treasuries and Bitcoin mining, and how grassroots distribution across emerging markets powers its dominance. Paolo also gives a glimpse into Tether’s ambitions in AI, tokenized gold, and the battle to distribute the dollar where banks can’t reach.

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🎬 DEBRIEF | Ryan & David Unpacking the Episode
https://www.bankless.com/podcast/debrief-the-stablecoin-king-tether-ceo-paolo-ardoino

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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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TIMESTAMPS

0:00 Intro
5:32 GENIUS Act
12:54 Tether & The US
22:13 Domestic Competition
26:23 Circle IPO
23:36 Handling Pressure
28:32 Stablecoin Valuations
31:38 Winning the Next Chapter
36:52 USDT in Emerging Markets
41:58 Tether & Crypto Correlation
45:52 Tether Ventures
53:25 Tether Wallet?
56:44 Tether & Bitcoin
1:00:15 Other Assets
1:01:07 Bitcoin Mining
1:04:58 Tokenized Gold
1:09:01 GENIUS Act Consequences
1:12:27 Europe
1:14:49 Why Tether is Good
1:17:50 Closing & Disclaimers

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RESOURCES

Paolo Ardoino
https://x.com/paoloardoino

USDT Insights
https://usdt.network/

Tether
https://tether.io/

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Welcome to the Weekly Rollup, where we cover this week in Crypto. We unpack the implications of the Genius Act's passage, which positions the U.S. to lead in digital assets and spurs optimism around stablecoins potentially hitting a $3.7 trillion valuation by 2030. Also: JP Morgan’s surprising entry into the stablecoin market and Coinbase’s launch of new products, including a Bitcoin cashback credit card.

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TIMESTAMPS & RESOURCES

0:00 Intro

2:55 Markets
https://www.coingecko.com/en/coins/bitcoin
https://www.coingecko.com/en/coins/ethereum

8:00 ETFs
https://x.com/jseyff/status/1934591572710211587
https://x.com/cointelegraph/status/1933534615395815761
https://x.com/JSeyff/status/1933635898140192849
https://x.com/JSeyff/status/1935043249141322017
https://x.com/EricBalchunas/status/1932527239679095097

12:00 Macro
https://x.com/NickTimiraos/status/1935397119772217715
https://x.com/scottmelker/status/1935382005866189003
https://x.com/elerianm/status/1933505682625417521
https://www.ft.com/content/0d175cad-db7c-4dc2-83a8-90736f96f198
https://x.com/thomas_fahrer/status/1934056640476770678
https://x.com/treenewsfeed/status/1934589597394084071
https://x.com/erictrump/status/1934665029866881155

29:00 The GENIUS Act Passes the Senate
https://x.com/SenatorHagerty/status/1934942333859979279
https://x.com/SenatorHagerty/status/1935491670805754100
https://x.com/SecScottBessent/status/1935027160374210573
https://x.com/secscottbessent/status/1935404649718157691
https://polymarket.com/event/genius-act-signed-into-law-in-2025?tid=1750338903189
https://x.com/TFTC21/status/1935027661421822149
https://x.com/RyanSAdams/status/1935371112403116518
https://x.com/intangiblecoins/status/1935095696454984027
https://x.com/intangiblecoins/status/1933583236778578274
https://x.com/pete_rizzo_/status/1933484989334659136
https://x.com/CryptosR_Us/status/1935475419286798505

38:30 JPMorgan Stablecoin JPMD
https://x.com/tier10k/status/1934684065875284187
https://x.com/base/status/1935055475252543823

43:00 INK Kraken Token
https://x.com/inkonchain/status/1934992073024823560
https://x.com/DefiIgnas/status/1935274751322435769

44:50 EigenLayer announces EigenCloud
https://x.com/ethereum/status/1935010523776430587
https://x.com/ViktorBunin/status/1934969360851857532
https://x.com/sreeramkannan/status/1935028483044032921
https://youtu.be/P2PGQIe9U6g?si=Q6ZZPy9KzyPQLBaA

47:43 Blockworks Token Transparency Framework
https://x.com/Blockworks_/status/1935321626788380714

50:10 Coinbase Product Launches
https://x.com/brian_armstrong/status/1933290398799065459
https://x.com/tier10k/status/1933238313567080716
https://x.com/tier10k/status/1933238313567080716
https://x.com/CoinbaseBiz/status/1933228168783278110
https://x.com/vivek4real_/status/1933230638842232989?s=46
https://blog.base.dev/commerce-payments-protocol
https://www.reuters.com/business/coinbase-seeking-us-sec-approval-offer-blockchain-based-stocks-2025-06-17/
https://x.com/luke_metro/status/1934061707158081538
https://x.com/KafiSq8/status/1934026011898683724

58:30 Roman Storm’s Legal Defense
https://x.com/ethereumfndn/status/1933564840112435567
https://x.com/ethereumfndn/status/1894704611606385012
https://x.com/rstormsf/status/1933502107577168047

59:25 Stablecoin Summer vs The Plot
https://x.com/mrjasonchoi/status/1935555875013538229

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Today, we discuss the recently passed Genius Bill with Senator Bill Hagerty, a key architect behind the legislation aimed at stabilizing the U.S. stablecoin market. Following a significant bipartisan Senate vote of 68-30, Sen. Hagerty shares insights on the evolving congressional perception of cryptocurrency, moving from skepticism to support. The bill seeks to foster a regulatory environment that encourages innovation while protecting users and maintaining America’s leadership in financial technology. The episode also highlights the potential economic benefits of a strong stablecoin framework and addresses concerns regarding Central Bank Digital Currencies (CBDCs).

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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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TIMESTAMPS

0:00 Introduction to the Genius Bill
5:43 Welcoming Senator Bill Haggerty
8:55 Next Steps for the Bill
11:16 Why America Needs Stablecoin Law
14:07 Fostering a Domestic Stablecoin Economy
15:23 Addressing Detractors of the Bill
18:06 Understanding Stablecoins vs CBDCs
20:27 Who Can Issue Stablecoins?
21:01 Path for Offshore Issuers
23:54 Surveillance Concerns with Stablecoins
26:10 Addressing the Trump Loophole
27:34 The Bipartisan Nature of Crypto
28:52 Senator Haggerty's Evolution on Crypto
32:17 Establishing a Clear Regulatory Framework
34:51 Future Steps for the Crypto Industry

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RESOURCES

Sen. Bill Hagerty: https://x.com/SenatorHagerty

The GENIUS Act: https://www.congress.gov/bill/119th-congress/senate-bill/394/text

Sec. Bessent’s Tweet: https://x.com/SecScottBessent/status/1935027160374210573

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

In this episode, Jeremie and Edouard Harris, co-founders of Gladstone AI and national security advisors, join us to break down the real score in the U.S.–China AI race.

We unpack what it actually means to “win” in AI: from cutting-edge model development and compute infrastructure to data center vulnerabilities, state-sponsored espionage, and the rise of robotic warfare. The Harris brothers explain why energy is the hidden battleground, how supply chains have become strategic liabilities, and why export controls alone won’t save us.

This is not just a geopolitical showdown - it’s a race for superintelligence, and the clock is ticking.

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TIMESTAMPS

0:00 Intro
1:05 AI race: who's ahead?
4:41 Framing AI as an arms race
12:58 Gov't awareness of AI conflict
20:38 AI reports feel like sci-fi
24:44 China vs US: model race
29:11 Shift to inference-time compute
31:19 China’s software vs US hardware
34:28 Open vs closed source politics
38:56 China’s energy dominance
43:32 America’s electric grid lag
47:55 Supply chain vulnerabilities
56:30 US chipmaking onshoring
1:01:08 U.S. lead in chips
1:04:00 DUV vs EUV bottlenecks
1:08:26 Manufacturing gap in robotics
1:11:53 Fear vs optimism in culture
1:17:26 Coordination vs dynamism
1:22:10 Bot-driven opinion warfare
1:25:58 China pushing degrowth narratives?
1:29:05 National security recommendations
1:33:36 Co-op or conflict endgame?
1:37:27 Closing

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RESOURCES

Jeremie Harris
https://x.com/jeremiecharris

Edouard Harris
https://x.com/harris_edouard

America’s Superintelligence Project
https://superintelligence.gladstone.ai/

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

EigenLayer is back with a major announcement: EigenCloud.

Sreeram Kannan and JT Rose unveil the first crypto-native cloud platform—a verifiable, programmable environment for building applications beyond the limits of traditional blockchains. We explore how EigenCloud packages modules like EigenDA, EigenVerify, and EigenCompute into a developer-friendly product that brings cloud-scale computation and crypto-grade trust guarantees together.

From meme coins and AI agents to fully sovereign applications, we dig into what makes this launch a pivotal step for crypto infrastructure and why it might just reignite Ethereum’s original ambitions.

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------
TIMESTAMPS

0:00 Intro
0:14 Introducing EigenCloud
12:39 Solving Programmability Bottlenecks
32:45 Apps EigenCloud Unlocks
54:00 Promoting EigenCloud
58:39 Total Addressable Market
1:02:53 Developer Action Items
1:06:19 Closing & Disclaimers

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RESOURCES

EigenCloud Announcement
https://x.com/eigenlayer/status/1934961135515828501

EigenCloud
https://eigencloud.xyz/

Sreeram Kannan
https://x.com/sreeramkannan

JT Rose
https://x.com/jt_rose

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

In this deeply personal episode, Sahil Bloom joins Ryan Sean Adams to explore what it truly means to be wealthy and why so many high achievers get it wrong. After hitting burnout, Ryan stepped away from the grind to reassess his definition of success. What he found was a framework that reframed his entire life: the Five Types of Wealth.

Together, they unpack why net worth alone is a poor scoreboard, how to avoid the trap of “never enough,” and what it means to build time, social, mental, physical, and financial wealth in harmony. This conversation is both a blueprint and a reboot, for anyone chasing more, and wondering why it still doesn’t feel like enough.

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------
TIMESTAMPS

0:00 Intro
3:22 Measuring Wealth
6:10 Beyond Net Worth
13:29 Burnout Moment
15:47 The Cost of Misaligned Effort
25:47 The Five Types of Wealth
27:47 Wealth Isn’t Swappable
34:05 Freedom Starts With Defining “Enough”
43:09 The “Enough” Excuse
47:31 Why We Feel Time-Starved
50:09 Digital Distractions and Overcommitment
55:46 The Two-List Exercise
57:38 The Morning ‘Boot Up’ Sequence
1:03:30 Reinvesting in Your Closest People
1:10:19 Too Busy to Connect
1:12:23 The Mental Wealth
1:14:11 The Life Razor
1:18:26 The Physical Wealth
1:24:40 Staying on Plan
1:25:56 Grounded Success
1:27:56 High Agency People
1:29:03 Closing

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RESOURCES

Sahil
https://x.com/SahilBloom

Sahil’s Blog
https://sahilbloom.substack.com/

The 5 Types of Wealth
https://www.the5typesofwealth.com/

RSA Reboot
https://x.com/RyanSAdams/status/1915115437505049055

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

This week, Ryan and David unpack Circle’s stunning IPO debut, soaring to a $25B market cap and triggering Wall Street’s stablecoin frenzy. They break down the landmark Genius Act vote, bringing unprecedented regulatory clarity to stablecoins, and dive into Stripe’s latest crypto bet, acquiring wallet innovator Privy. Polymarket goes mainstream in an official integration with Twitter, while SEC Chair Paul Atkins embraces DeFi as fundamentally American. Plus, Gemini quietly files for IPO, Plasma’s billion-dollar Tether chain ignites, and Trump unexpectedly endorses crypto at Coinbase.

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https://bankless.cc/Mantle

🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self

🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance

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TIMESTAMPS & RESOURCES

0:00 Intro

3:59 Markets
https://x.com/KobeissiLetter/status/1932526577897595233
https://x.com/rovercrc/status/1930951805191778369
https://x.com/hosseeb/status/1931457548760334723
https://x.com/elonmusk/status/1932695486684950962
https://x.com/DavidShapiro98/status/1932696393937785058
https://x.com/blknoiz06/status/1932072994731647435
https://x.com/nypost/status/1933109968510550430

15:02 US Senate is about to pass the GENIUS Act
https://x.com/Cointelegraph/status/1932988965037978084
https://x.com/intangiblecoins/status/1932868994165354703
https://x.com/SenatorBennet/status/1932864987208249597
https://x.com/SenWarren/status/1932858887482507604
https://www.banking.senate.gov/imo/media/doc/20250611_warren_blumenthal_letter_to_meta_re_stablecoin.pdf
https://x.com/RyanSAdams/status/1932877097623588922

27:35 Did Circle kickoff Stablecoin Summer?
https://www.tradingview.com/chart/?symbol=NYSE%3ACRCL
https://x.com/MikeIppolito_/status/1932070226939810164
https://x.com/TaikiMaeda2/status/1929538665560031641
https://x.com/RyanSAdams/status/1932424510738673711
https://x.com/PlasmaFDN/status/1932072359080415702
https://www.barrons.com/articles/circle-ipo-crypto-retail-frenzy-06659b30?
https://x.com/perkinscr97/status/1931032964349276313

39:54 Stripe acquired Privy
https://x.com/privy_io/status/1932816495719166167
https://x.com/patrickc/status/1932817864450584939

42:41 Polymarket became official prediction market of X!
https://x.com/xai/status/1932481207180406923
https://x.com/shayne_coplan/status/1931008087688614155

44:50 Morpho Labs will be soon fully owned by MORPHO token holders
https://x.com/PaulFrambot/status/1930971485142761909
https://youtu.be/IJN_pgkKPjA?si=963i8GioANnNoVAR
https://x.com/MorphoLabs/status/1933162070465208423

49:17 Paul Atkins defended DEFI as the foundation American values
https://x.com/SECGov/status/1932137708068970924
https://x.com/SECGov/status/1932137708068970924

53:15 World Liberty Financial will acquire TRUMP for its treasury
https://x.com/EricTrump/status/1931089248926490772
https://x.com/coinbase/status/1932836009034617183

54:38 Closing & Disclaimers

55:13 Moment of Zen
https://x.com/BitcoinMagazine/status/1933172630099837134

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Etherealize is back with a bold new thesis: ETH is digital oil. In this episode, Vivek and Danny Ryan unpack their freshly released report, The Bull Case for ETH, which positions ether as the next great store of value—and a future global reserve asset for the digital economy.

We explore ETH’s misunderstood monetary design, its strategic role for institutions, and why Wall Street is waking up to Ethereum not just as a network, but as an investable asset. This is the case for ETH as the asymmetric opportunity of this generation.

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🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self

🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
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------
TIMESTAMPS

0:00 Intro
0:52 The Bull Case for ETH
3:18 Why ETH?
6:35 Pitching to Wall Street
10:59 ETH is Digital Oil
21:29 ETH’s Monetary Policy
37:37 Why Hold ETH?
43:42 ETH/BTC Ratio
47:20 ETH is a Store of Value
53:55 Ethereum’s Scaling Path
1:03:08 Ethereum’s Renaissance
1:07:06 Ethereum Competitors
1:10:14 The Report
1:12:29 Vivek in Congress
1:13:33 Closing & Disclaimers

------
RESOURCES

The Bull Case for ETH Report
http://ethdigitaloil.com/

VIvek Raman
https://x.com/VivekVentures

Danny Ryan
https://x.com/dannyryan

Etherealize
https://x.com/Etherealize_io

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Crypto markets are buzzing and institutional appetite is peaking. With Circle’s IPO wildly oversubscribed and a new wave of companies racing to go public, we unpack what this means for the industry.

Jon and Bread join us to break down the hype around crypto IPOs, why TradFi wants stablecoin exposure, and what it signals for projects like Solana, Ethereum, and Hyperliquid. We also debate value accrual, ETH vs BTC narratives, and whether apps or platforms will dominate the next phase of crypto. This is the IPO Era of crypto—let's dissect the winners and the delusions.

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🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle

🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self

🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance

------
TIMESTAMPS & RESOURCES

0:00 Intro

0:32 Vibe Check
https://x.com/intern/status/1932238240880222270
https://x.com/blknoiz06/status/1932072994731647435

10:13 Crypto’s IPO Era
https://www.tradingview.com/chart/?symbol=NYSE%3ACRCL
https://x.com/HadickM/status/1931323504525279522

18:11 Ethereum Valuation Debate
https://x.com/DeeZe/status/1932475461348835800

29:29 Hype vs SOL vs PUMP
https://www.tradingview.com/chart/?symbol=KUCOIN%3AHYPEUSDT

40:44 Hyperliquid vs Centralized Exchanges
https://dune.com/uwusanauwu/perps

50:35 PumpFun’s Token Sale

58:16 Closing & Disclaimers

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Jon Charbonneau and Ryan Berckmans join Bankless to debate Ethereum’s future: is ETH undervalued, or has the market already spoken?

We unpack whether Ethereum can rival Bitcoin as a store of value, if L2s will drive real value back to ETH, and whether Solana’s momentum signals deeper trouble for Ethereum. Jon argues ETH has lost its lead and may never reclaim it. Ryan contends Ethereum’s neutrality and institutional traction make it the inevitable hub for the onchain economy.

This is the definitive conversation on where ETH stands—and where it’s heading.

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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self

🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance

------
TIMESTAMPS

0:00 Intro
0:32 Is ETH special?
32:55 How ETH should be valued
51:42 ETH over or undervalued?
1:09:59 Being wrong on ETH
1:13:00 Closing & Disclaimers

------
RESOURCES

Ryan Berckmans
https://x.com/ryanberckmans

Jon Charbonneau
https://x.com/jon_charb

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠