ROLLUP: Markets Down | Tether $500B Raise | South Park x Polymarket | Gensler Grilled
Bankless
Should Base be regulated like NASDAQ?
Hosts debate whether layer-2s with centralized sequencers like Base meet securities-exchange definitions and regulatory risks.
In this week’s Weekly Rollup, we break down “Downtemper” market moves as Bitcoin and Ethereum slide, and examine why Vitalik Buterin is calling low-risk DeFi Ethereum’s true backbone. We highlight Tether’s ambitious $500B raise, Polymarket’s mainstream moment on South Park, and Gary Gensler’s testy CNBC appearance. We also cover Paul Atkins’ push for pro-crypto regulation, the heated debate over whether Base should be regulated like Nasdaq, and the surprising deletion of 86 million bank accounts in Vietnam as digital ID mandates expand.
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TIMESTAMPS & RESOURCES
0:00 Intro
4:16 Markets
https://x.com/PeterSchiff/status/1971193227807162797
https://x.com/tomleeupdates/status/197097365172296 1041
https://x.com/TheOneandOmsy/status/1969076691478696325
7:38 BitGo IPO
https://x.com/jseyff/status/1969143764535972186
9:51 Tether $500B Raise
https://www.reuters.com/business/crypto-firm-tether-eyes-500-billion-valuation-major-raise-round-bloomberg-news-2025-09-23
17:06 Polymarket / South Park
https://x.com/Polymarket/status/1970829572842065995
https://x.com/aleximm/status/1971063404308918630
https://x.com/Polymarket/status/1971137036863275056
https://x.com/martypartymusic/status/1970125767460950181
23:43 Gary Gensler / Paul Atkins / CFTC / Clarity Act
https://x.com/altcoindaily/status/1968814029943480623
https://www.foxbusiness.com/video/6379979495112
https://x.com/vronirwin/status/1969775136959270993
https://x.com/amandalfischer/status/1970254506374938992
https://www.coindesk.com/policy/2025/09/10/trump-s-cftc-hopeful-quintenz-takes-his-dispute-with-tyler-winklevoss-very-public
https://x.com/BrianQuintenz/status/1965855208195412356
https://www.theblock.co/post/371778/white-house-patrick-witt-market-structure-bill
39:25 Vitalik / DeFi / Coinbase
https://vitalik.eth.limo/general/2025/09/21/low_risk_defi.html
https://x.com/RyanSAdams/status/1969794415595077997
https://youtu.be/ADiEX92S58E
https://x.com/brian_armstrong/status/1968708504547364921
43:53 Synthetix Perp Dex
https://x.com/synthetix_io/status/1970237341760655656
https://www.bankless.com/podcast/how-synthetix-brings-perps-back-to-the-ethereum-l1-kain-warwick?ref=bankless.ghost.io
48:12 Base / Nasdaq Debate
https://thedefiant.io/newsletter/defi-daily/should-base-be-regulated-as-an-exchange
https://x.com/iampaulgrewal/status/1970206735206900038
https://x.com/MaxResnick1/status/1970250612399825075
https://x.com/VitalikButerin/status/1970258498996048247
https://x.com/jchervinsky/status/1970571188993958214
https://x.com/danrobinson/status/1970557854190051463
57:53 Coinbase + Cloudflare x402
https://x.com/CoinbaseDev/status/1970477072792592484
https://x.com/balajis/status/1952582943689556453
59:19 Vietnam Bank Account Purge
https://x.com/alanvibe/status/1967643742653042698
https://x.com/RyanSAdams/status/1969390296812196325
1:03:47 Closing & Disclaimers
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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