Welcome to Bankless: where we explore the frontier of crypto money, tech and finance. Learn how to get started, get better, and front-run the opportunity.
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NEWS: $ZEC still sitting in Zcash's original Sprout pool has about two weeks to move before the NU7 upgrade freezes it.
NU7 is set for mainnet block 3,543,405, expected around Nov. 5th, per Zakura, the full node project led by Zcash cofounder Sean Bowe.
The upgrade retires the v4 transaction format Sprout depends on, and the spec warns Sprout spending "may never be reenabled."
NU7 also brings 25 second blocks.
ALT Zcash Sprout NU7 deadline graphic
NEWS: 0xbow has launched Privacy Pools v2, adding private payments, yield, and swaps across seven networks including Ethereum, Arbitrum, and Base.
Shielded funds can now pay any EVM address privately, earn Aave yield inside the pool, and swap across tokens and chains via LI.FI.
Deposits still need approval from 0xbow's screening service, albeit with no KYC or viewing key.
The Ethereum Foundation's Kohaku wallet-privacy initiative is also notably integrating it.
ALT Privacy Pools v2 launch graphic
Bankless retweeted
NEW REPORT: Is Crypto Ready for Its Next Leg Up?
Fear has returned to crypto, but the next rally may be closer than it looks. @JustDeauIt and @RyanSAdams break down Bitcoin’s resilience amid a sharp altcoin selloff, the holder rotation driving its consolidation, and why seller exhaustion could set up the next move. They also discuss the $87K breakout level, mounting stress in AI debt markets, Bitcoin’s divergence from the Nasdaq, and whether quality altcoins are becoming attractive again.
[TIMESTAMPS]
0:00 Intro
0:13 Bitcoin Holds Strong as Altcoins Fearful
4:00 Bitcoin’s Cycle Signals & Capitulation
11:19 Bitcoin Dominance and Strategy’s Next Move
17:51 AI Debt Fears & Credit Spreads
22:30 Treasury Yields, Stocks, & Capital Flows
31:42 Debt Risks, Bitcoin, & Government Intervention
35:30 Bitcoin Versus & Nasdaq
39:11 Altcoin Dips and Portfolio Strategy
43:02 Ether, Solana, & Closing Thoughts
NEWS: OpenSea's mobile app is now open to everyone on iOS and Android, ending a gated rollout that began in July.
The app pitches social trading across art, trading card, memecoins, and perps on +25 chains, with feeds that show other traders' moves in real time.
Fees are 0.5% per token trade and 1% per collectible buy.
ALT OpenSea mobile app graphic
You're not the only one...
I have an AI agent that logs every negative comment someone makes about me online.
It then creates a profile of the person, maps all of their social connections, and finds all their emails.
Tomorrow morning, my AI agent will sent out an email blast to everyone's extended social network, detailing the horrible things they've said about me.
NEW EPISODE - Zcash Names: ENS for Zcash
@ZcashNames founder James Joseph (@zcashme) joins @TrustlessState to break down how .zec usernames make shielded payments simpler without exposing your transaction history.
They dive into how ZNS compares to Ethereum's ENS, the technology behind private usernames, the remaining security tradeoffs, and whether the system could pass the Edward Snowden privacy test.
CHAPTERS
---
00:11 Making Private Payments as Easy as Venmo
05:06 How Zcash Names Actually Works
14:13 Would Edward Snowden Trust Zcash Names?
22:22 How to Claim Your Zcash Name
28:21 The Business and Economics of Zcash Names
36:55 Not Your Keys, Not Your Name
NEWS: Onchain inference markets are posting record token usage.
Base-based Surplus Intelligence processed a record 312.6B tokens on Oct. 18, up from 133.6B on Sept. 23, per its dashboard. $DLPHN hit 32.2B daily tokens one week after its API went live, per @0xJeff.
Inference has emerged as x402's biggest use case, with onchain markets offering discounted models and some pseudonymity.
NEWS: The CFTC has asked a federal judge to toss CME Group's lawsuit over U.S. perpetual futures, arguing CME lacks standing because it hasn't shown any harm.
CME sued in June to undo the CFTC's May 29 approval of Kalshi's bitcoin perp, arguing perps are swaps, not futures.
The CFTC pointed to CME's own data, showing its monthly crypto futures volume rose from about 2.66M contracts in May to 3.28M in September.
Judge Colleen Kollar-Kotelly will decide whether the case moves forward.
NEWS: ZachXBT uncovered Monero laundering pipeline on Hyperliquid Core known as FreedomXMR, which has taken in $20M+ in inflows since August.
The funds trace back to ransomware, malware, social engineering, and exploits including DCENT Wallet, Fetch, and Gamdom.
Since August, $XMR is up 69% while $BTC is up 30%.
The @SECGov and @CFTC are moving to end years of regulatory turf wars over crypto.
“For so many years, the two agencies have been locked in turf battles.”
“We’re ending that turf battle once and for all.”
“We’ve put in place a memorandum of understanding between the agencies to work together to make sure that we’re totally harmonized and consistent across our policies, and that includes crypto.”
“Because the tokens themselves are not the securities, but the investment contract is.”
🎬 - @ChairmanSelig
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
Offshore-style crypto leverage could be coming to U.S. spot exchanges.
“You can trade on margin. You can say that I will take these assets in my wallet. Let's say you've got ETH and SOL and whatever else. You pledge those as collateral, and you can go trade.”
“It allows you to trade and effectively leverage the capital of your assets instead of just having these sit idle in your wallet.”
“The margin requirements would be set by the exchange in consultation with the CFTC.”
— @ChairmanSelig on proposed Regulation CTX
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
Bankless retweeted
The CFTC’s proposed rules are a VERY big deal for crypto.
If finalized, they would:
- Enable spot margin trading for US CEX's
- Creates a federal path for US CEXs operate nationwide instead of chasing state by state licenses (makes the NY BitLicense irrelevant)
- Enables crypto assets as collateral across spot, perps, and options
A one-two punch of enabling margin activities while giving the CFTC jurisdiction over much of crypto's exchange activity
Give this episode a watch👇
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
