The Duopolies of 2026: Ethereum & Solana, Coinbase & Robinhood, Polymarket & Kalshi | Ryan, David & Arnav Pagidyala
Bankless19 Jan

The Duopolies of 2026: Ethereum & Solana, Coinbase & Robinhood, Polymarket & Kalshi | Ryan, David & Arnav Pagidyala

Crypto in 2026 is consolidating into a handful of high-stakes rivalries: Ethereum vs. Solana for the center of gravity, Coinbase vs. Robinhood for the finance super-app, and Polymarket vs. Kalshi for prediction markets. Arnav Pagidyala (Bankless Ventures) joins David and Ryan to map the investment implications, why incentives-driven L1s keep leaking liquidity, what makes Morpho’s institutional playbook work, and whether Hyperliquid, wallets, and onchain rails start eating the exchange business. We also dig into the comeback of ICOs, what it would take for tokens to become truly investable, and why proof-of-personhood and privacy-preserving KYC may become unavoidable infrastructure. ------ 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 🏅BITGET TRADFI | TRADE GOLD WITH USDT https://bankless.cc/bitget-trading 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://bankless.cc/TDR-pro 💰ICO WATCH | UPCOMING PUBLIC TOKEN SALES https://bankless.cc/ico-watch ------ TIMESTAMPS 0:00 Intro 1:12 Ethereum & Solana 7:33 Why Solana is Winning 9:27 L1 Valuations 13:13 Coinbase & Robinhood 17:16 Base Contentcoins 20:32 Kalshi & Polymarket 23:19 Prediction Market Tokens 24:45 Store of Value Duopoly 27:21 Tokens in 2026 29:41 Tokens & Equity Alignment 31:01 MetaDAO 32:42 ICOs 34:44 Morpho 39:17 Morpho & Aave 40:41 Perp Exchanges 44:28 Proof of Personhood 48:42 Fat Wallet Thesis 51:45 X & Crypto 53:27 AI & Vibecoding 55:28 Is Crypto Dead? 57:18 Capital Stack Moving Onchain 59:10 What About TradFi? 1:02:15 Closing & Disclaimers ------ RESOURCES Arnav Pagidyala https://x.com/0xArnav Bankless Ventures https://x.com/banklessvc Investing Trends for 2026 https://www.youtube.com/watch?v=Poes3EpAR5c ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

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Episoder(1295)

ROLLUP: Saylor Risk? | Warsh’s New Fed | SpaceX IPO | Coinbase’s Everything Exchange

ROLLUP: Saylor Risk? | Warsh’s New Fed | SpaceX IPO | Coinbase’s Everything Exchange

Equities are rallying, but Bitcoin is breaking down. David and Tom unpack Saylor’s STRC stress, Warsh’s first FOMC, SpaceX’s mega-IPO, Jito’s breakout, Coinbase’s Everything Exchange, and why perps ma...

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How Re is Rebuilding the $1T Reinsurance Market with Stablecoins | Karn Saroya & Avichal Garg

How Re is Rebuilding the $1T Reinsurance Market with Stablecoins | Karn Saroya & Avichal Garg

Re is bringing the $1T reinsurance market onchain. Founder Karn Saroya and Electric Capital’s Avichal Garg join David to unpack how stablecoins can become a new capital source for insurance, why real-...

18 Jun 58min

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Why The Pokémon Card Market Is Blowing Up | Andy8052

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17 Jun 46min

Perps Are Coming Onshore | CFTC Chairman Mike Selig

Perps Are Coming Onshore | CFTC Chairman Mike Selig

Perps are coming onshore. CFTC Chairman Mike Selig joins David to unpack the first U.S.-regulated Bitcoin perpetual futures contract, the end of regulation by enforcement, and what comes next for Coin...

15 Jun 35min

ROLLUP: One More Dip? | Saylor Sold | IPO Season | Ethereum vs ETH

ROLLUP: One More Dip? | Saylor Sold | IPO Season | Ethereum vs ETH

Bitcoin is back at Biden-era prices, ETFs are bleeding, and Saylor just did the thing he said never to do: sell. Ryan and David unpack whether crypto has one more drop left, what trillion-dollar IPOs ...

12 Jun 1h 8min

Is $LIT Cheap? | Will Price and Flip

Is $LIT Cheap? | Will Price and Flip

Hyperliquid has become the breakout perp exchange of crypto. But is the market missing its biggest competitor? Delphi’s Flip and DeFi investor Will Price join David to make the case for Lighter, a ZK-...

9 Jun 1h

Venice is Here to Win: How a Private AI Company Plans to Take On OpenAI and Anthropic

Venice is Here to Win: How a Private AI Company Plans to Take On OpenAI and Anthropic

AI is quickly becoming the interface through which people think, work, and make decisions—but most users have no idea how much personal data they're handing over in the process. Jon and Jesse from Ven...

8 Jun 58min

ROLLUP: Bitcoin’s Confidence Game | Bitmine’s ETH Bet | Token Rotation | U.S. Perps

ROLLUP: Bitcoin’s Confidence Game | Bitmine’s ETH Bet | Token Rotation | U.S. Perps

Bitcoin is bleeding, STRC is off peg, and Saylor’s “never sell” machine is facing its first real confidence test. David and Haseeb unpack whether Strategy can survive without selling BTC, why Bitmine’...

5 Jun 58min

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