03 October 2025
ROLLUP: Uptober Rally | Tom Lee $1B ETH Buy | Vanguard Flips to Crypto | Stripe Stablecoin Play
Bankless
About
In this week’s Weekly Rollup, Uptober kicks off with Bitcoin and Ethereum surging toward all-time highs as Tom Lee drops another $1B into ETH and Vanguard finally opens its doors to crypto ETFs.
We cover Stripe’s push to break the Tether–Circle duopoly with its new stablecoin platform, Cloudflare’s surprising entry into onchain payments, and Swift teaming up with Consensys on blockchain rails. Plus, Zcash rockets 200%, Ethereum’s Lighter perps exchange goes live, and Circle sparks debate with plans for reversible USDC.
---
📣0G | CRYPTO X AI
https://bankless.cc/OGAI
---
BANKLESS SPONSOR TOOLS:
🪙FRAXNET | MINT, REDEEM, EARN
https://bankless.cc/fraxnet
🦄UNISWAP | SWAP ON UNICHAIN
https://bankless.cc/unichain
🛞MANTLE | MODULAR L2 NETWORK
https://bankless.cc/Mantle
🌳KGEN | REQUEST A DEMO
https://bankless.cc/KGEN-podcast
🐂BULLISH | U.S. EXCHANGE LAUNCH
https://bankless.cc/bullish
💠BIT DIGITAL ($BTBT) | ETH TREASURY
https://bankless.cc/bit-digital
*We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors*
---
TIMESTAMPS & RESOURCES
0:00 Intro
3:38 U.S. Government Shutdown
https://www.bbc.com/news/articles/crrj1znp0pyo
7:13 Markets
https://x.com/pumatheuma/status/1973717212025553313 - ZK Szn??
https://x.com/CoinDesk/status/1971565473218113771
https://www.strategicethreserve.xyz/
https://www.bankless.com/read/news/another-week-another-buy-bitmine-stacks-234k-eth
https://x.com/Jrag0x/status/1972643353918677497
https://x.com/smyyguy/status/1971585912602796266
https://x.com/fundstrat/status/1972948825578131523
https://www.reuters.com/sustainability/boards-policy-regulation/us-regulators-probe-stock-moves-before-companies-made-crypto-treasury-2025-09-26/
24:57 Plasma nailed its go-to-market
https://x.com/Plasma/status/1972660468561965173
https://www.coingecko.com/en/coins/plasma
https://defillama.com/chains
https://blockworks-research.beehiiv.com/p/plasma-s-defi-shockwave
https://x.com/lemiscate/status/1972337762205339788
https://x.com/ajwarner90/status/1972823448897634648
https://x.com/RyanSAdams/status/1973436365225468336
32:35 Everyone gets a Stablecoin! The duopoloy is dead!
Phantom announced Cash stablecoin
https://x.com/phantom/status/1973035201950617617
https://x.com/useCash/status/1973035307139477561
https://stripe.com/blog/introducing-open-issuance-from-bridge
https://x.com/zcabrams/status/1973052207911129557
https://x.com/nic__carter/status/1973399535092171216
38:43 Cloudflare launched their own stablecoin on Base
https://x.com/CoinbaseDev/status/1970477072792592484
https://x.com/eastdakota/status/1971226533831582073
https://x.com/Kira_sama/status/1971237126378504230
https://x.com/Rewkang/status/1970782770805813392
https://x.com/RyanSAdams/status/1973753405894992073
44:18 Lighter - Ethereum Zk Perps
https://x.com/Lighter_xyz/status/1973508660061180363
https://defillama.com/protocol/lighter
50:06 More crypto TradFi mainstream!
https://x.com/MorphoLabs/status/1972913932802421202
https://finance.yahoo.com/news/swift-teams-ethereum-software-giant-190506673.html
https://www.theblock.co/post/372706/swift-blockchain-ledger-consensys
https://x.com/Louis_Tellier/status/1973692818452337125
https://cointelegraph.com/news/circle-examines-reversible-stablecoin-transactions
57:36 With new Sora, the need for zk proving reality 100x-ed
https://youtu.be/qeORiYlsEH4?t=374
https://x.com/pumatheuma/status/1973258262939312433
1:01:52 CEO of Polymarket gets flipped off
https://x.com/shayne_coplan/status/1972675295564931242
https://x.com/nickpreszler/status/1972748902240780589
1:04:44 Closing, Disclaimers, & Moment of Zen
https://x.com/coinbase/status/1972731382830072129
---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
We cover Stripe’s push to break the Tether–Circle duopoly with its new stablecoin platform, Cloudflare’s surprising entry into onchain payments, and Swift teaming up with Consensys on blockchain rails. Plus, Zcash rockets 200%, Ethereum’s Lighter perps exchange goes live, and Circle sparks debate with plans for reversible USDC.
---
📣0G | CRYPTO X AI
https://bankless.cc/OGAI
---
BANKLESS SPONSOR TOOLS:
🪙FRAXNET | MINT, REDEEM, EARN
https://bankless.cc/fraxnet
🦄UNISWAP | SWAP ON UNICHAIN
https://bankless.cc/unichain
🛞MANTLE | MODULAR L2 NETWORK
https://bankless.cc/Mantle
🌳KGEN | REQUEST A DEMO
https://bankless.cc/KGEN-podcast
🐂BULLISH | U.S. EXCHANGE LAUNCH
https://bankless.cc/bullish
💠BIT DIGITAL ($BTBT) | ETH TREASURY
https://bankless.cc/bit-digital
*We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors*
---
TIMESTAMPS & RESOURCES
0:00 Intro
3:38 U.S. Government Shutdown
https://www.bbc.com/news/articles/crrj1znp0pyo
7:13 Markets
https://x.com/pumatheuma/status/1973717212025553313 - ZK Szn??
https://x.com/CoinDesk/status/1971565473218113771
https://www.strategicethreserve.xyz/
https://www.bankless.com/read/news/another-week-another-buy-bitmine-stacks-234k-eth
https://x.com/Jrag0x/status/1972643353918677497
https://x.com/smyyguy/status/1971585912602796266
https://x.com/fundstrat/status/1972948825578131523
https://www.reuters.com/sustainability/boards-policy-regulation/us-regulators-probe-stock-moves-before-companies-made-crypto-treasury-2025-09-26/
24:57 Plasma nailed its go-to-market
https://x.com/Plasma/status/1972660468561965173
https://www.coingecko.com/en/coins/plasma
https://defillama.com/chains
https://blockworks-research.beehiiv.com/p/plasma-s-defi-shockwave
https://x.com/lemiscate/status/1972337762205339788
https://x.com/ajwarner90/status/1972823448897634648
https://x.com/RyanSAdams/status/1973436365225468336
32:35 Everyone gets a Stablecoin! The duopoloy is dead!
Phantom announced Cash stablecoin
https://x.com/phantom/status/1973035201950617617
https://x.com/useCash/status/1973035307139477561
https://stripe.com/blog/introducing-open-issuance-from-bridge
https://x.com/zcabrams/status/1973052207911129557
https://x.com/nic__carter/status/1973399535092171216
38:43 Cloudflare launched their own stablecoin on Base
https://x.com/CoinbaseDev/status/1970477072792592484
https://x.com/eastdakota/status/1971226533831582073
https://x.com/Kira_sama/status/1971237126378504230
https://x.com/Rewkang/status/1970782770805813392
https://x.com/RyanSAdams/status/1973753405894992073
44:18 Lighter - Ethereum Zk Perps
https://x.com/Lighter_xyz/status/1973508660061180363
https://defillama.com/protocol/lighter
50:06 More crypto TradFi mainstream!
https://x.com/MorphoLabs/status/1972913932802421202
https://finance.yahoo.com/news/swift-teams-ethereum-software-giant-190506673.html
https://www.theblock.co/post/372706/swift-blockchain-ledger-consensys
https://x.com/Louis_Tellier/status/1973692818452337125
https://cointelegraph.com/news/circle-examines-reversible-stablecoin-transactions
57:36 With new Sora, the need for zk proving reality 100x-ed
https://youtu.be/qeORiYlsEH4?t=374
https://x.com/pumatheuma/status/1973258262939312433
1:01:52 CEO of Polymarket gets flipped off
https://x.com/shayne_coplan/status/1972675295564931242
https://x.com/nickpreszler/status/1972748902240780589
1:04:44 Closing, Disclaimers, & Moment of Zen
https://x.com/coinbase/status/1972731382830072129
---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures