AI is eating Google's biggest money printer. But does that make the AI labs the obvious investment? @TrustlessState sees a familiar problem: “It reminds me of the L1 trade where there's just too many.” “There's no second best for SpaceX. That's just not true with the AI labs.” “We don't even know if the revenues are durable for these AI frontier labs.” “That might not be where value gets captured.”
The bearish bitcoin:native cycle-top target? $200,000. @RyanSAdams breaks down @JustDeauIt's outlook: holding the $76K 50-week moving average is key to keeping the early bull-market thesis intact. “His bear zone target for a top for this cycle is 200 k Bitcoin.” “But his bull bull take is about 375 k.” “All of this happens at the same time Jason Calacanis is saying Bitcoin will never reach all time highs ever again.” “It's kinda bullish.”
$VVV Community Call | October @AskVenice's Head of Strategy @JonShapeShift joins @TrustlessState for the October $VVV community call to unpack Venice crossing 5M users and 1T daily tokens, $1M+ in monthly $VVV burns, the DeepSeek-powered growth surge, accelerating AI video demand, the new $VVV ETP, private AI in an era of rising data breaches, and what comes next. [TIMESTAMPS] 0:00 Intro 0:07 October at Venice 1:47 Venice Surpasses Five Million Users 5:22 A Smarter Default Model Drives Growth 10:28 How Agentic Chat Works 20:37 Record VVV Burns and Revenue Growth 23:54 AI Video and the Lumara Film Festival 30:10 Falling Token Costs, Better AI 34:42 Open-Source Models vs. Frontier Labs 36:36 VVV’s First European Exchange-Traded Product 41:04 AI Agents and the Growing Data-Security Risk 51:00 The U.S. Government’s DeepSeek Ban 52:59 What “Obliterated” Models Do 56:09 Venice Is Hiring a Model Product Manager 58:07 Consumer Growth and Enterprise Demand 1:00:22 Updates on Venice’s GPU Cluster 1:01:29 Venice’s Goals for the Rest of the Year
NEWS: Zcash co-founder Sean Bowe has proposed ENDING the 8% cut of newly issued $ZEC for the Zcash Community Grants committee. Instead, the share would go to a protocol reserve that funds network security over time. Bowe says the committee's $125M+ treasury is enough. https://t.co/k4TdnfdUlK
NEW EPISODE - CryptoDad's Vision for the Future of Finance Former CFTC Chairman @giancarloMKTS returns to Bankless with his new book, The New Adventures of CryptoDad, and a bold prediction: the entire financial system will be rebuilt on digital rails by 2040. Christopher and @TrustlessState unpack how Wall Street and Washington fought crypto innovation, why the 2008 financial crisis convinced him of blockchain's potential, and how tokenization is already reshaping traditional finance. CHAPTERS --- 00:00 CryptoDad's New Mission 04:36 How Crypto Became Political 12:16 Why the SEC Crackdown Failed 17:09 Bitcoin Futures, Perps, and Regulation 27:54 Passing the CFTC Baton 33:52 Who Controls Digital Finance? 39:40 The 2008 Banking Blind Spot 45:31 Wall Street Moves Onchain 50:52 Privacy and the Digital Dollar
What if bitcoin:native is signaling the next bull market before the liquidity data catches up? “Liquidity drives Bitcoin, but there are clearly feedback effects.” “Bitcoin could be saying... we're entering now the early stages of what will turn out to be... another two to three year bull market.” Michael Howell of @crossbordercap argues that Bitcoin's recent stability could be an early signal of a turning liquidity cycle, potentially pointing to another 2–3 years of upside.
NEWS: Keystone says the attacker behind its Oct. 20 store breach also took the key it uses to verify its wallets are genuine. It will destroy the 18,835 wallets in its inventory that carry that key. The breach exposed 25,964 buyer records, including names and addresses. https://t.co/BhcH2zdoXk
WEEKLY ROLLUP: The Internet Is Under Attack. Is Crypto Next? Uptober lasted four hours. Now comes Black October: rising war fears, AI-powered cyber threats, and a market on edge. @RyanSAdams and @TrustlessState debate whether crypto is next, JPMorgan’s bullish Bitcoin forecast, fusion-made gold, and a major stablecoin win. [TIMESTAMPS] 0:00 Intro 0:08 Black October, Uptober & Market Jitters - @TrustlessState - @coinbureau 5:38 Bitcoin's Early Bull Case 9:26 JPMorgan's Bitcoin Forecast & Ethereum's Struggles - @saylor - @Matt_Hougan 20:23 Crypto Movers: Pearl, Lighter, Venice & Monero - @zoomerfied 28:31 Black October: Cyberattacks, AI & Banking Risks - @takaichi_sanae - @NSACyber - @Mudit__Gupta - @devmuzzammil - @nic_carter - @jachiam0 - @eastdakota - @MadisonMills22 42:53 Fusion Gold: Bitcoin's Unexpected Advantage? - @MarathonFusion 50:23 Stablecoin Rewards, Solana Upgrade & Aero Merger - @EleanorTerrett - @solana
