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How does a top 100 Hyperliquid trader find opportunities without blowing up? David Hoffman sits down with KoolKrypto to unpack his risk-first approach to perps, how he spots mispriced DeFi tokens, and why buybacks change the investment case. They debate the upside of Hyperliquid versus Lighter, the bull and bear cases for Zcash, and why crypto options could become the next major growth market. Plus, how a changing macro environment could set up crypto's next inflection point. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near2026 🌍 RIPIO | LOCAL CURRENCIES, ONCHAIN https://bankless.cc/ripio 🛡️VIZOR | THE WALLET ZCASH DEVS USE https://bankless.cc/vizor 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Trading Without Blowing Up 05:25 KoolKrypto and the Revenue Meta 10:53 The Bull and Bear Cases for Zcash 24:16 Options vs. Perps 30:08 Valuing Crypto Exchange Tokens 37:09 Hyperliquid vs. Lighter 47:17 The Crypto Options Wars 56:55 The Next Crypto Inflection Point --- RESOURCES KoolKrypto https://x.com/koolkrypto223 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

What if the next stablecoin boom isn't in dollars? Ripio co-founder and CEO Sebastian Serrano joins David Hoffman to unpack how Latin America is bringing six local currencies onchain, why self-custody wallet deposits are still so expensive, and how stablecoins could improve cross-border payments. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY2 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near2026 🌍 RIPIO | LOCAL CURRENCIES, ONCHAIN https://bankless.cc/ripio 🛡️VIZOR | THE WALLET ZCASH DEVS USE https://bankless.cc/vizor 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Crypto adoption in Latin America 5:38 Local currencies, FX and the carry trade 8:19 Inside Ripio: crypto infrastructure for LatAm 16:29 Fixing on-ramps with local stablecoins 28:26 Wrapped fiat: business model and cross-border payments 35:29 Distribution and which blockchains 42:14 Regulators, banks and market growth --- RESOURCES Sebastián Serrano https://x.com/sserrano44 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

A blue wave and a black swan. Democrats sweep Congress, markets whipsaw into a $2 trillion selloff, and Bitcoin holds its 50-week moving average through the biggest heist in history: $6 billion stolen from Binance. Ryan and David break down how North Korea pulled it off, how a French bank got robbed with crypto as the getaway car, Ethereum's December 2028 quantum-proof deadline from DevCon, and Coinbase insiders' new sell plans. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near2026 🌍 RIPIO | LOCAL CURRENCIES, ONCHAIN https://bankless.cc/ripio 🛡️VIZOR | THE WALLET ZCASH DEVS USE https://bankless.cc/vizor 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Intro 1:57 Blue Wave: Democrats Sweep Congress https://x.com/DCinvestor/status/2117789052573544873 3:33 $2 Trillion Erased: AI Bubble Popping? https://x.com/KobeissiLetter/status/2118362154558779411 https://pbs.twimg.com/media/HWX6J1hXwAAXczz?format=jpg&name=medium 7:41 Bitcoin Holds the 50-Week: Early Bull Intact? 10:59 NEAR AI Red https://near.ai/blog/the-right-to-run 11:44 Will the Dems Come for Crypto? https://x.com/0xGrimes/status/2111584181562290268 https://x.com/caprioleio/status/2118125380741795929 https://x.com/WatcherGuru/status/2118006193276805427 https://x.com/EleanorTerrett/status/2118041922011021418 https://x.com/hosseeb/status/2118080207664062720 https://x.com/TrustlessState/status/2118043617650491467 21:11 Binance Hack: The $6B Heist, 7 Days Later https://www.fbi.gov/investigate/cyber/alerts/2026/north-korea-responsible-for-6-billion-binance-attack https://x.com/zachxbt/status/2116030284261179538 https://www.binance.com/en/proof-of-reserves https://www.coindesk.com/business/2026/11/03/binance-s-usd6-3-billion-hack-began-with-a-fake-job-interview-exchange-says https://x.com/binance/status/2117626126214504729 https://x.com/hosseeb/status/2117650872603955542 27:26 THORChain & the Laundering Fight https://x.com/FBICyberBranch/status/2116660730745299426 https://thedefiant.io/podcasts-and-videos/podcast/thorchain-refused-to-block-the-usd387m-bitget-hacker-here-s-why-or-chad-barraford 32:49 North Korea: Too Close to the Sun? https://www.theblock.co/news/regulation/2026-11-02-kim-jong-un-sister-rejects-fbi-claims-linking-north-korea-binance-hack-432344 35:45 Polygon's Hard Fork & the Validator Bribe https://forum.polygon.technology/t/pip-proposal-recovery-of-funds-held-in-blocked-addresses-following-the-polymarket-and-binance-incidents/22497 38:25 How to Rob a Bank: Crypto Was the Getaway Car https://x.com/gregory_raymond/status/2117864901108432999 https://x.com/Jrag0x/status/2117878442309906695 48:37 DevCon 8: Ethereum Post-Quantum by 2028 https://x.com/EFDevcon/status/2117497506007576631 https://x.com/ethereumfndn/status/2117717427920498698 51:17 The Ethereum Economic Zone https://www.kucoin.com/news/flash/ethereum-economic-zone-unveils-three-cross-chain-breakthroughs-at-devcon 52:57 L2Beat Becomes ETHBeat https://x.com/ethbeat_org/status/2117913893796225035 https://ethbeat.org/crops 54:08 Vitalik's Keynote Controversy https://x.com/ethereumfndn/status/2117500382977102044 https://x.com/gakonst/status/2117668817082155157 https://x.com/uttam_singhk/status/2117673754574651760 https://x.com/fede_intern/status/2117993844159438993 58:58 Coinbase Earnings & Armstrong's Sell Plan https://www.fool.com/earnings/call-transcripts/2026/10/30/coinbase-coin-q3-2026-earnings-call-transcript/ https://thedefiant.io/news/cefi/coinbase-ceo-armstrong-adopts-plan-to-sell-up-to-1-31-billion-in-shares 1:02:53 STRC Back at $100 https://x.com/Strategy/status/2118036238741688626 --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Can Ethereum become private without giving anyone a master key? Aztec co-founder Zac Williamson joins David Hoffman to discuss the race to build private smart contracts, why transparent blockchains struggle with tokenized finance, and how ZK Passport could bring identity checks onchain without exposing personal data. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🛡️VIZOR | THE WALLET ZCASH DEVS USE https://bankless.cc/vizor 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near2026 🌍 RIPIO | LOCAL CURRENCIES, ONCHAIN https://bankless.cc/ripio 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 The Race for Private Ethereum 07:21 Why Crypto Still Isn't Private 15:01 ZK Passport and Private Identity 21:29 AI-Powered Attacks and Trustless Infrastructure 29:44 Private DeFi and Institutional Adoption 35:42 Aztec Tokenomics, MEV, and Transaction Costs 40:52 Aztec Tierra and the 2027 Roadmap 43:43 Getting Started With Aztec --- RESOURCES Zac Williamson https://x.com/Zac_Aztec Aztec Network https://aztec.network ZK.money https://zk.money --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

What would it take for private money to work at global scale? Zcash co-founder Sean Bowe and ZK researcher Dev join David Hoffman to unpack the next chapter of Zcash, from Tachyon's ambitious scaling roadmap to the challenge of building private wallets that actually work. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near2026 🌍 RIPIO | LOCAL CURRENCIES, ONCHAIN https://bankless.cc/ripio 🛡️VIZOR | THE WALLET ZCASH DEVS USE https://bankless.cc/vizor 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Why Zcash Matters Now 07:53 AI Makes Privacy Urgent 11:20 The Zcash Development Roadmap 17:33 Privacy Without Compromises 25:26 Scaling Zcash With Tachyon 39:42 Private Wallets and Proof of Work 41:06 Zcash's Quantum Defense Roadmap 1:00:53 AI Threats and Formal Verification 1:12:53 Security Through Multiple Assumptions 1:19:37 Why Payments Come First 1:25:54 Funding Proof-of-Work Security 1:29:34 Governance and Coinholder Voting 1:34:53 ZEC Price and Protocol Threats --- RESOURCES Sean Bowe https://x.com/ebfull Dev Ojha https://x.com/zkDragon --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures