The Next Bull Market is Here, and Obvious | Spencer and Aleks, Blockchain Capital

Crypto prices are weak, OG sentiment is exhausted, and institutions are leaning in. Blockchain Capital GPs Aleks Larsen and Spencer Bogart join David Hoffman to explain why this disconnect may be the opportunity. They unpack crypto’s shift toward application-layer value, stablecoins as onchain working capital, tokenized equities, Aave V4, public blockchains, and BCAP. Is the cypherpunk dream fading, or becoming the foundation of global finance? --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔓NEAR | TRADE CONFIDENTIALLY, GET 20% BACK https://bankless.cc/near-pod 🔑BITKEY | GET 10% OFF USE CODE: BANKLESS | #bitkeypartner https://bankless.cc/bitkey ✈️COINBASE ONE CARD | EARN 5% BACK IN BITCOIN https://bankless.cc/coinbase-one-card 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless --- TIMESTAMPS 0:00 Buybacks, Burns and Tokenholder Trust 5:47 Why Blockchain Capital Is Doubling Down 14:38 Institutions Arrive as Crypto OGs Lose Faith 21:03 From Infrastructure Scarcity to Abundant Blockspace 30:24 What AI Can Learn From Crypto 38:43 Stablecoins Become Onchain Working Capital 44:41 The Stablecoin Revenue Multiplier 47:40 Aave and Open Financial Infrastructure 55:08 The Roadmap for Tokenized Equities 59:41 Public Chains, Ownership and Compliance 1:04:24 Blockchain Capital’s Tokenized Fund 1:09:03 Bringing BCAP Fully Onchain --- RESOURCES Spencer Bogart https://x.com/CremeDeLaCrypto Aleks Larsen https://x.com/alekslarsen --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures