Bankless

Equities are rallying, but Bitcoin is breaking down. David and Tom unpack Saylor’s STRC stress, Warsh’s first FOMC, SpaceX’s mega-IPO, Jito’s breakout, Coinbase’s Everything Exchange, and why perps may be crypto’s next real growth engine.

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📣OKX | THE NEW MONEY APP

https://app.okx.com/en-us/join/usbankless

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BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE

https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW

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🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

📊BITGET | TOKENIZED STOCKS 2.0

https://bankless.cc/bitget-stocks

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS & RESOURCES 

0:00 Intro

3:07 Equities Up, Crypto Down: STRC Stress

https://x.com/PeterSchiff/status/2067629492214829114

https://x.com/zackvoell/status/2067628541257429213

https://x.com/R89Capital/status/2067608064627491009

https://x.com/jdorman81/status/2067616073479078386

11:21 First FOMC with Kevin Warsh

https://www.businessinsider.com/kevin-warsh-first-fomc-fed-meeting-interest-rates-2026-6

16:35 SpaceX Becomes One of the World’s Most Valuable Companies

25:43 Mover of the Month: JTO

31:01 Coinbase System Update

https://www.coinbase.com/blog/system-update-take-control-of-your-money-with-coinbase

https://x.com/oost_marcel/status/2067268725883981841

https://x.com/coinbase/status/2066890566667796530

https://www.theblock.co/post/405012/coinbase-unveils-system-update-unlocking-an-ai-advisor-global-unified-liquidity-options-trading-and-more

37:42 Anchorage Brings Hyperliquid to Institutions

https://x.com/nathanmccauley/status/2066906951464947966

46:23 Blockworks Acquires Messari

https://x.com/blockworks/status/2065468327120576863

50:40 UK Moves to Ban Social Media for Children

https://x.com/keir_starmer/status/2066458640010158571

57:50 Polymarket World Cup Trade

https://polymarket.com/sports/world-cup/bracket

https://polymarket.com/event/world-cup-winner

59:50 Closing & Disclaimers

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

Re is bringing the $1T reinsurance market onchain. Founder Karn Saroya and Electric Capital’s Avichal Garg join David to unpack how stablecoins can become a new capital source for insurance, why real-world reinsurance may offer crypto’s missing “real yield,” and how Re is using Ethereum, smart contracts, and AI to compete with legacy giants like Lloyd’s of London, Munich Re, and Swiss Re. They also discuss the RE token, the future of onchain capital markets, and why stablecoins could become the backbone of a new financial system.

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BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE

https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS 

0:00 Intro

2:13 Blockchain Reinsurance Edge

4:12 Stablecoin Capital Markets

9:17 Efficiency Beats Incumbents

13:02 Rewiring Insurance Plumbing

16:24 Durable Startup Advantage

23:26 Reinsurance Market Size

30:09 How Reinsurance Pays

32:42 Capital Stack Mechanics

35:52 Leverage and Yield

40:02 What $RE Tracks

41:34 Tranche Yields

42:36 Productive Capital Returns

44:47 Looping the Receipts

48:01 $RE Token Governance

51:26 Roadmap to a Billion

52:13 Onchain Adoption Ahead

56:02 The DeFi Mullet Future

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RESOURCES 

Re

https://re.xyz/home

Karn Saroya

https://x.com/karnsaroya

Avichal Garg

https://x.com/avichal

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

Pokemon cards are suddenly one of the hottest markets in collectibles. But why now, and what does it have to do with crypto? Andy8052 joins David to break down the rise of digital pack-opening platforms, the nostalgia-driven bull case for Pokémon, why grading companies have a stranglehold on the market, and how millions of dollars of real-world cards are slowly moving onchain. Are tokenized collectibles the next NFT comeback story, or just another frothy mania?

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BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE

https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS 

0:00 NFTs to Pokémon Cards

2:59 Why Pokémon Is Hot

8:13 Nostalgia Meets Disposable Income

11:56 Brands, Influencers, and Hype

15:06 Pricing the Cards

16:21 Grading and Market Bottlenecks

22:16 Why Cards Still Aren't On-Chain

30:06 Inside Monster Strategy

34:40 Market Consolidation Ahead

35:42 Vaults, Shipping, and Logistics

38:13 Kids, Parents, and Collecting

40:45 Nostalgia Is the Real Bull Case

43:45 Where to Find Andy

44:35 Tokenized Cards and Stablecoins

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RESOURCES 

Andy8052

https://x.com/andy8052

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

Perps are coming onshore. CFTC Chairman Mike Selig joins David to unpack the first U.S.-regulated Bitcoin perpetual futures contract, the end of regulation by enforcement, and what comes next for Coinbase, Kalshi, Kraken, Gemini, Hyperliquid, Lighter, and the broader U.S. perp market. They also discuss which assets could list next, how U.S. leverage will differ from offshore exchanges, and why equity perps, RWAs, and 24/7 trading may be the next frontier of American finance.

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📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24

https://bankless.cc/spotify-premium

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BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE

https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS 

0:00 Intro

3:32 Self-Certified Crypto Contracts

7:08 Chasing the U.S. Perps Market

9:00 Bringing Liquidity Onshore

10:18 U.S. Market Guardrails

12:44 Blockchain Transparency Advantage

19:17 Hyperliquid and Onchain Perps

23:09 Real-World Asset Perps

24:38 Equity Perps & SEC

26:35 Incumbents Versus Disruptors

31:28 Derivatives Dominating Crypto

33:16 Perps Are Just Beginning

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RESOURCES 

CFTC Chair Mike Selig

https://x.com/ChairmanSelig

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures

Bitcoin is back at Biden-era prices, ETFs are bleeding, and Saylor just did the thing he said never to do: sell. Ryan and David unpack whether crypto has one more drop left, what trillion-dollar IPOs reveal about broken capital markets, and why their ETH debate may be the real fight for Ethereum’s future.

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📣OKX | THE NEW MONEY APP

https://app.okx.com/en-us/join/usbankless 

---

BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE

https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW

https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://thedefireport.io/bankless

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TIMESTAMPS & RESOURCES

0:00 Intro

3:07 Markets

https://x.com/aggrnews/status/2063954465678410121

https://www.coindesk.com/markets/2026/06/01/analysts-agree-strategy-s-bitcoin-sale-was-immaterial-differ-on-future-signals

https://imgur.com/SDyYiQS

https://x.com/WatcherGuru/status/2063964293478101014 

https://x.com/zoomerfied/status/2062288919853490553

https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-announces-pricing-of-upsized-series-a-perpetual-preferred-stock-offering-302792359.html

https://thedefiant.io/news/tradfi-and-fintech/bitmine-files-300m-preferred-stock-offering-9-5-yield-eth-treasury

https://www.coindesk.com/business/2026/06/03/tom-lee-s-bitmine-to-offer-preferred-stock-with-9-5-dividend-seeking-to-raise-usd300-million

https://imgur.com/tvIDofV

https://x.com/KobeissiLetter/status/2065049515384582205

https://polymarket.com/event/fed-rate-hike-in-2026

https://fred.stlouisfed.org/graph/

https://www.theguardian.com/business/2026/jun/11/ecb-eurozone-interest-rates-iran-war-inflation

30:11 IPO Season

https://app.lighter.xyz/trade/SPACEX

https://app.lighter.xyz/trade/ANTHROPIC

https://app.lighter.xyz/trade/OPENAI

36:29 Bankless Guys Are Fighting

https://x.com/steweycrypto/status/2062796930326094216

https://x.com/RyanSAdams/status/2062598415482245528

https://x.com/TrustlessState/status/2062599824491372906

https://x.com/RyanSAdams/status/2062612677466202281

https://x.com/TrustlessState/status/2062644365533622705

https://x.com/RyanSAdams/status/2062669134614466707

https://x.com/TrustlessState/status/2062674368195686809

https://x.com/RyanSAdams/status/2062745848673427471

https://x.com/Tommyb631/status/2062613008304451756

55:39 Morpho Flips Aave

https://morpho.org/blog/morpho-association-raises-175m-to-build-the-open-credit-network-for-the-world/

https://x.com/0xLouisT/status/2063963380000407881

58:04 ZEC Vulnerability & Jason Calacanis’ Crypto-to-AI Tweet

https://x.com/Jason/status/2064083020257055193

coindesk.com/.../zcash-plummets-30-as-developer-reveals-a-major-bug

forum.zcashcommunity.com/.../orchard-counterfeiting-vulnerability

1:02:55 Hester Peirce Almost Out

https://x.com/hesterpeirce/status/2064768651488608612

https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-chamber-commerce-capital-markets-summit-060926

1:06:03 World Cup Starts

https://polymarket.com/event/world-cup-winner

1:07:26 Closing & Disclaimers

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures