Bankless

ROLLUP: Bull Market Over? | BTC 50W Breakdown | Balancer Hack | Stream Finance Collapse | Brian Armstrong’s Prediction Market Drama

70 snips
Nov 7, 2025
Guest
Hasib Qureshi
Join Hasib Qureshi, a prominent crypto investor and researcher, as he dives into the hot topics of the crypto market. They debate whether the crypto bull market is really over amid AI’s rise, dissect the implications of a startling $128M Balancer hack, and question the integrity of prediction markets triggered by big players like Brian Armstrong. Plus, discussions on the fragility of leverage in the market, the impact of institutional adoption, and the controversial role of Bitcoin as a potential 'BlackRock coin' add layers of intrigue!
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INSIGHT

Bitcoin's Silent IPO Thesis

  • Bitcoin may be undergoing a 'silent IPO' as early holders slowly diversify into institutional buyers.
  • That turnover can create long periods of consolidation even while adoption broadens.
INSIGHT

Deleveraging Hurt Many, But System Is Less Fragile

  • The October 10th liquidation was a severe deleveraging that exposed many small players but likely spared the largest firms.
  • Hasib says systemic credit in crypto is much lower post-2022, reducing overall fragility.
ANECDOTE

Stream Finance Collapse Example

  • Ryan describes Stream Finance as a hedge-fund-like DeFi product that collapsed, hurting user trust.
  • He likens it to Celsius: an opaque yield product that failed and de-pegged its token.
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