What does a truly autonomous business actually need? @ilblackdragon lays out the stack: “You want properties that it’s indeed, can run 24/7. It has access to intelligence… it has access to finances, and it’s able to go and execute actions.” “You need a monetization way to do this, which doesn’t deplete your treasury.” “From there, it just goes and operates.” Research. Supply chains. Payments. Insurance. Real-world execution. “All of that is effectively the commerce layer, and that’s what @NEARProtocol Intents are really facilitating.”

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NEW EPISODE - NEAR Just Turned Staking Yield Into AI Compute What if staking yield could keep an AI agent thinking? @ilblackdragon joins @TrustlessState to unpack @NEARProtocol’s new AI economy, where users can redirect staking yield toward private, verifiable inference. They dig into autonomous businesses with their own treasuries, AI inside blockchain transactions, token value capture, and the coming global market for GPU compute. TIMESTAMPS --- 0:00 Private, Verifiable AI 4:57 Why AI Outputs Need Proof 9:13 From Staking Yield to Inference 16:16 NEAR’s Integrated AI Stack 20:01 NEAR as AI Money 24:27 Autonomous Businesses 28:51 Partners and Real-World Uses 33:26 What NEAR Ships Next 38:01 Where AI Value Accrues 40:56 The AI Operating System 48:07 Turning Compute Into a Market 51:48 Closing Thoughts

INTERVIEW: The EIP That Destroys DeFi | Stani Kulechov & Mike Silagadze Ethereum’s latest staking proposal is sparking backlash across DeFi. @aave founder @StaniKulechov and @ether_fi CEO @MikeSilagadze join @TrustlessState to break down why stake tapering could push $ETH yield toward zero, weaken solo staking, drive capital out of DeFi, and make ETH less attractive to institutions. They debate Ethereum’s monetary policy, whether the network is overpaying for security, and why trying to make ETH more like Bitcoin could undermine what makes Ethereum valuable in the first place. [TIMESTAMPS] Intro 0:00 0:09 Ethereum’s Staking Debate 2:41 Stani’s First Reaction 7:48 Mike’s Centralization Concerns 14:37 DeFi Under Pressure 17:15 Stani on Yield and Cash Flow 24:54 The Case for Vanilla Ether 27:20 Mike Pushes Back 34:27 Issuance and Monetary Policy 35:16 Minimum Viable Issuance 40:47 Institutions Need Predictability 46:10 Conservative Yield, Not Zero 47:46 Legitimacy and Process 52:54 Final Verdict on the EIP

EARLY ACCESS: The EIP That Destroys DeFi | @StaniKulechov & @MikeSilagadze 🟢 Out now for Bankless Premium subscribers 📅Out on public feeds Monday, August 10 Sign up for early access and the ad-free version now👇

There's a proposal to change ETH's monetary policy: EIP 8361 - Tapered Issuance Burn If 50% of ETH gets staked, staking rewards go to ZERO. The researchers say it protects ETH's moneyness. Every DeFi founder says it kills their business. @TrustlessState and @RyanSAdams break down both sides, and share their takes👇

WEEKLY ROLLUP: Ethereum’s Staking Yield Could Go to Zero Ethereum’s monetary policy is suddenly up for debate. @RyanSAdams and @TrustlessState unpack the issuance fight dividing researchers and DeFi builders, the Coldcard exploit that hit users who “did everything right,” Saylor’s latest Bitcoin sale, and markets ripping back to all-time highs. [TIMESTAMPS] 0:00 Intro 0:25 Markets, AI, and Bitcoin - @bulltheoryio 6:31 Saylor’s Bitcoin Selloff - @hedgeye - @zerohedge - @saylor 18:00 Ethereum Issuance Fight - @zoomerfied - @jdetychey - @TrustlessState - @StaniKulechov - @DCinvestor - @MikeSilagadze 39:59 Coldcard Wallet Drain - @itscoachgoodman - @EpsilonTheory - @lopp - @AriDavidPaul - @PeterMcCormack 52:00 Uniswap, Clarity, and Crypto Updates - @Uniswap - @Cloudflare - @NEARProtocol - @arc

EARLY ACCESS - "We Want to Be Bigger Than the CME" | @Kalshi's @j0hnwang 🟢 Out now for Bankless Premium subscribers 📅Out on public feeds Monday, August 10 Sign up for early access and the ad-free version now👇

NEW REPORT: Bitcoin vs. Nasdaq — Is This Rally a Trap? The Nasdaq has nearly erased a 10% selloff, but the bond market may be telling a very different story. @JustDeauIt and @RyanSAdams break down why the Fed may be letting rising long-term yields tighten financial conditions, whether the rally in equities is built to last, and why Bitcoin may have already bottomed relative to the Nasdaq even if both markets still have more pain ahead. They also cover Bitcoin’s cycle metrics, Strategy’s latest bitcoin:native sales, and the possibility of one final move toward $55K before the next major buying opportunity. [TIMESTAMPS] 0:21 NASDAQ vs Bitcoin 2:04 Market Whipsaw Explained 6:32 Bitcoin Cycle Check 13:16 Strategy’s Bitcoin Stress 16:06 Bitcoin Dominance Shift 22:39 Bitcoin Versus QQQ 26:43 Fed Lets Yields Run 34:39 Staying Patient Into Year-End

NEW EPISODE - solana:9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump, Robinhood Chain, & Why $SOL Still Beats $ETH in 2026 | Mike Dudas @mdudas joins @TrustlessState to unpack: • Whether solana:9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump can become more than a memecoin • Robinhood Chain’s push into consumer crypto • Why memecoin culture is still expanding • The case for SOL over ETH • Where he’d put $1M for the next five years TIMESTAMPS --- 0:00 Bonk at Solana’s Bottom 7:07 What Gives Memecoins Value? 13:45 The Ansem Experiment 20:53 Are Memecoins Built to Die? 26:19 Culture Goes Onchain 29:45 Robinhood, Base, and the Trenches 32:59 Better Assets, Better Cycles 36:20 What 6MV Is Betting On 38:21 The Consumer Crypto Comeback 43:37 Compute Becomes a Market 47:57 Crypto’s AI Diaspora 50:53 SOL Versus ETH 57:02 Cycles, Equity, and Tokens 1:01:34 Why Crypto Takes Longer

Stablecoins aren’t just moving dollars. They’re turning them into onchain working capital, says @CremeDeLaCrypto “Dollars that move onchain tend to stay onchain.” “A little over half of it is immediately deployed as working capital into the onchain economy.” “A billion dollars of stablecoins in a year produces about $122 billion of economic activity.” “Roughly a billion dollars of net new stablecoin issuance produces about $19 million of downstream protocol revenue.”