Crypto Markets Forever Stuck? Onchain Data Explained | Michael Nadeau’s Defi Report #2
Crypto prices seem stuck. Is that about to change?
Michael Nadeau of the DeFi Report returns to unpack what onchain data says about Bitcoin, ETH, and altcoins. We dive into why the market may be coiling beneath the surface, whether altcoins are due for a “hate rally,” and how valuation metrics reveal surprising accumulation trends. Michael also shares his current portfolio moves, including high-beta bets like Pepe and ENA, and lays out the macro triggers that could spark the next leg up.
Michael Nadeau & The DeFi Report:
https://x.com/JustDeauIt
https://thedefireport.io
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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS
0:00 Intro
2:19 The HODLer's Fallacy: Rethinking Conviction in a Naturally Extractive Market
https://mirror.xyz/sreevanth.eth/6unQ_oX9sQFkvjPi3yehVi6M7Ak2t1V5hzyWYs9yUi4
7:03 BTC Onchain Data & Price Explanation
15:23 Altcoin Season Index
23:24 ETH & Solana Onchain Data
32:30 Beta Assets Bull Case
38:46 Ethena Memo
https://thedefireport.io/research/ethena-memo
51:14 Crypto Equities
55:45 Liquity & The Macro Setup
1:00:53 Michael’s Portfolio Today
1:02:31 How to Value an L1
https://thedefireport.io/research/how-do-you-value-an-l1
1:02:53 Quarterly Reports
1:04:40 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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1:05:22
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1:05:22
Robinhood Announces Tokenized Stocks! LIVE with CEO Vlad Tenev, Johann Kerbrat, and AJ Warner
In this series of three interviews from Cannes, we host Vlad Tenev, CEO of Robinhood, Johann Kerbrat, GM of Crypto at Robinhood, and AJ Warner from Arbitrum to explore key announcements from their recent Token Summit. They discuss the introduction of tokenized stock options for private companies like SpaceX and OpenAI, aiming to democratize access for retail investors.
Vlad highlights Robinhood’s commitment to addressing investment inequities, while Johann shares insights on the technological challenges and their Layer 2 blockchain initiative facilitating 24/7 trading. They also navigate the regulatory landscape with the SEC and CFTC, envisioning a future where private shares become accessible and entrepreneurial capital raising is enhanced. The conversation wraps up with plans to improve user experience for new financial products in Robinhood’s evolving crypto offerings.
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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS
0:00 Interview with Vlad Tenev
21:00 Interview with Johann Kerbrat
37:30 Interview with AJ Warner
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RESOURCES
Vlad Tenev
https://x.com/vladtenev
Vlad’s Washington Post Op-Ed
https://www.washingtonpost.com/opinions/2025/01/28/investing-crypto-tech-robinhood-stock-market/
Johann Kerbrat
https://x.com/johannkerbrat
AJ Warner
https://x.com/ajwarner90
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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55:48
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55:48
Becoming a Crypto Millionaire with Sam Dogen
Sam Dogen, founder of Financial Samurai and one of the original F.I.R.E. voices, joins Ryan Sean Adams to break down the path to financial independence, whether you're investing in crypto or other asset classes.
They unpack 10 milestones to millionaire status, from mindset and momentum to investing, real estate, and entrepreneurship. Sam and Ryan go deep on how to avoid financial landmines, get on the same page with a partner, and define a life where money serves purpose, not the other way around. If you want your net worth to grow without losing your life to the grind, this episode is your roadmap.
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BANKLESS SPONSOR TOOLS:
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🦄UNISWAP | SWAP ON UNICHAIN
https://bankless.cc/unichain
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle
🌐CELO | BUILD TOGETHER AND PROSPER
https://bankless.cc/Celo
🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS
0:00 Intro
5:56 Millionaire Mindset
9:34 The Probability of Becoming a Millionaire
10:58 Understanding Your Why
12:46 Freedom Through Finance
17:07 Signs You’ve Reached Independence
19:52 How Much Should You Have?
22:20 Saving: Where to Begin
26:48 The 50% Rule
29:21 The Magic of $250.000
32:30 Smart Debt vs Smart Risk
34:44 What Assets Build Wealth?
37:31 Buying Your First Home
43:00 Easy Wins in Property
47:14 Income That Frees You
49:22 Cars That Kill Wealth
52:55 Why Ownership Beats Income
59:56 Location = Opportunity
1:02:38 Design Your Financial Life
1:04:28 Build Wealth as a Team
1:06:43 Redefining Retirement
1:08:41 Lightning Round
1:12:53 Closing
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RESOURCES
Sam Dogen
https://x.com/financialsamura/
Financial Samurai
https://www.financialsamurai.com/
Millionaire Milestones
https://www.amazon.com/Millionaire-Milestones-Simple-Steps-Figures/dp/0593714709
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
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1:12:55
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1:12:55
ROLLUP: Bitcoin Dominance Hits 66% | Circle IPO 10x | Robinhood Flips Coin? | Kalshi vs Polymarket
This week, David and guest co-host Tom Schmidt (Dragonfly) unpack a deceptively quiet crypto market with Bitcoin dominance hitting 66% and altcoins eerily still. What meta could flip the trend?
They dive into Circle’s explosive 10x IPO, Robinhood’s surprise crypto surge, and why Coinbase is finally catching up. Plus: the Kalshi vs. Polymarket drama, ICOs creeping back, and how meme coins might soon help you get a mortgage.
Also: Vitalik’s Layer 1 pivot, prediction markets heating up, and signs of a new retail cycle forming.
Tom Schmidt & Chopping Block
https://x.com/tomhschmidt
https://x.com/_choppingblock
https://x.com/dragonfly_xyz
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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🌐SELF | PROVE YOUR SELF
https://bankless.cc/Self
🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS & RESOURCES
0:00 Intro
0:46 Tom’s crypto vibe check
1:50 Markets
26:53 Kalshi Series C
https://x.com/tomhschmidt/status/1937957381197185165
https://www.wsj.com/finance/prediction-market-kalshi-hits-2-billion-valuation-in-new-funding-round-2d0c8b4c
https://x.com/tomhschmidt/status/1937957381197185165
https://x.com/hosseeb/status/1938065110351716707
36:50 US regulator orders Fannie Mae, Freddie Mac to consider crypto for mortgages
https://x.com/pulte/status/1937944964656152800
https://x.com/crypto_bobby/status/1937951968619639046
43:44 Ethereum
https://x.com/TrustlessState/status/1936037598805590364
49:04 What Tom’s excited about
53:01 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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53:34
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53:34
The Stablecoin King | Tether CEO Paolo Ardoino on GENIUS Act, Circle IPO, Bitcoin & Tether to Trillions
Tether CEO Paolo Ardoino returns to Bankless at a historic moment for stablecoins.
With the Genius Act advancing in the U.S. Congress, Paolo discusses what regulatory clarity means for Tether, the future of USDT, and the company’s plans to launch a domestic stablecoin.
We explore the Circle IPO hype, Tether’s eye-popping profits, its growing presence in the U.S. Treasuries and Bitcoin mining, and how grassroots distribution across emerging markets powers its dominance. Paolo also gives a glimpse into Tether’s ambitions in AI, tokenized gold, and the battle to distribute the dollar where banks can’t reach.
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🎬 DEBRIEF | Ryan & David Unpacking the Episode
https://www.bankless.com/podcast/debrief-the-stablecoin-king-tether-ceo-paolo-ardoino
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🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle
🌐CELO | BUILD TOGETHER AND PROSPER
https://bankless.cc/Celo
🟠 BINANCE | THE WORLDS #1 CRYPTO EXCHANGE
https://bankless.cc/binance
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TIMESTAMPS
0:00 Intro
5:32 GENIUS Act
12:54 Tether & The US
22:13 Domestic Competition
26:23 Circle IPO
23:36 Handling Pressure
28:32 Stablecoin Valuations
31:38 Winning the Next Chapter
36:52 USDT in Emerging Markets
41:58 Tether & Crypto Correlation
45:52 Tether Ventures
53:25 Tether Wallet?
56:44 Tether & Bitcoin
1:00:15 Other Assets
1:01:07 Bitcoin Mining
1:04:58 Tokenized Gold
1:09:01 GENIUS Act Consequences
1:12:27 Europe
1:14:49 Why Tether is Good
1:17:50 Closing & Disclaimers
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RESOURCES
Paolo Ardoino
https://x.com/paoloardoino
USDT Insights
https://usdt.network/
Tether
https://tether.io/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
New Zealand