Bankless
ROLLUP: Gold & Silver ATHs | Fidelity’s Stablecoin | Ethereum’s Quantum Pivot | Tether Buys Gold
30 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
Bankless Nation is the last week of January. It's time for the Bankless Weekly Rollup. We got markets in a little bit of a tumble right now, David.
Chapter 2: What macroeconomic factors are influencing the current gold and silver market?
I was getting ready to say gold and silver are unstoppable because they have been on the week, but now things are reversing course.
But then they stopped, at least for a moment, at least for a moment.
But we do got to talk about gold and silver. All-time highs this week. Peter Schiff taking victory laps, of course. Yeah, he's earned it. Did you know David Tether has a nuclear-resistant Cold War bunker where they're stacking a tremendous amount of gold, maybe even buying more gold than they are Bitcoin right now? You know what?
What does Tether not have? An army? If you told me Tether had bought a private army, I would be like, you know what?
That sounds right. Yeah.
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Chapter 3: Why are gold and silver hitting all-time highs now?
Yeah, that might be by 2030. Anyway, we'll talk about that. And also this energy from precious metals, is that going to rotate back into crypto? What else we got?
Right, right. It totally will, right guys? Fidelity is launching a Fidelity dollar, a new stable coin on Ethereum. We're going to talk about why this one is a little bit more significant than all the other stable coins that have launched in recent months. And speaking of Ethereum, nice, big, chunky Ethereum section. We're going to make a pretty good macro ETH bull case.
Ryan and I both saw on Twitter, we were both like, This is the best thing that we've seen around ETH in a while.
Chapter 4: How is Tether positioning itself in the gold market?
We're going to talk about it. Quantum resistance efforts, macro conditions. This is a really good setup for Ethereum. And also, Ryan's got this story. Maybe you guys have heard about this.
Chapter 5: What is Ethereum's strategy for quantum resistance?
Oh, you want me to tell this story?
I don't know this story. Ryan put it in the agenda. Son of a government contractor who may have stolen $40 million from the US. Yeah. So that they could brag about it and flex in Telegram, which is how they got ousted for doing it in the first place.
Yeah, it's kind of funny, actually, dude. I can't wait to tell you the story. But first, before you get in, we've got some news from our friends over at Kraken. They're launching a pretty juicy DeFi product, aren't they?
Chapter 6: What are the implications of Fidelity's new digital dollar?
What is this?
They have launched DeFi Earn.
Chapter 7: How is Tether's new onshore stablecoin different from others?
They launched it this Monday, made a pretty big splash across the crypto sphere.
Chapter 8: What insights can we gather from the MegaETH stress test results?
Ryan, have you heard of this thing called the DeFi mullet? Have I? Have I ever? You might have been the guy who coined it. I do recall.
Yes.
Yeah. So this is that. It's a cracking mullet. Exactly. Yeah. The crack mullet. Yeah. Ave Morpho Hydro. A number of DeFi apps. They are just bullish on Vaults. In the same way our friends over at Bitwise bullish on Vaults. Kraken also bullish on Vaults. And so you can get up to 8% APY with the new Kraken DeFi Earn product. Also inside of their Kraken app. Do you know that's what they have?
They have a Kraken app. They have a crack app.
That's what it's called. This is basically like I put my stable coin inside of a vault and it's managed by these vault managers that have been kind of commissioned by Kraken and I collect my 8%.
That's right. And there are three different strategies, all dollar denominated strategies, but different strategies based off of like how aggressive you want to be with your strategies. And so, yeah, there is a link in the show notes, bankless.cc slash Kraken to go get started with DeFi Earn.
That's cool. Our friend Dan Litzier is a fan too. Kraken takes care of the safety, compliance and flexibility to ensure their customers can enjoy a high risk adjusted yield. I love the highest risk adjusted yield. And so if I can get that within my Kraken app, I'm going to go do that. Very cool. How about our prices in the week, David? Tell us about Bitcoin.
Storminess definitely feels like the right word. Storminess in like the bad way. Choppy waters. Down 5.5% on the Bitcoin. Down to 83,700. Maybe that's actually down 6% or 7%.
And dropping. We're in like 6% and a half. 6%.
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