Bankless

ROLLUP: Buy Signal? | Fusaka Launch | Polymarket Mainstream | Trump’s Fed Chair | SEC Crypto Shift

111 snips
Dec 5, 2025
Bitcoin's recent drop relative to gold raises questions about a potential buy signal. The hosts discuss the implications of Trump's likely Fed chair pick on market liquidity. Ethereum's new Fusaka upgrade aims to enhance builder integration with improved throughput. Polymarket is making waves by entering the U.S. mainstream competition, while regulatory challenges loom. Additionally, emerging alliances between key players like Larry Fink and Brian Armstrong signal a shift in institutional crypto engagement.
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ANECDOTE

Choosing Easier Mountains Next Year

  • David shared his mountain-climbing comeback and a vow to take it easier in 2026 as a personal anecdote.
  • He used the story to explain being exhausted and choosing less ambitious goals next year.
INSIGHT

BTC Cheap Relative To Gold

  • Bitcoin is historically cheap versus gold on a 15-year power-law ratio, a rarity outside late 2017.
  • Institutional preference and macro forces (rates, liquidity) explain gold's recent outperformance versus Bitcoin.
ADVICE

Don't Use Price‑to‑Sales Alone For ETH

  • Don't rely solely on price-to-sales to value ETH because scaling lowers fee revenue and distorts that metric.
  • Use multiple valuation frameworks and treat price-to-sales as one signal among many.
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