Weekly Roundup 11/14/25 (Miran speech, Cash App adds Stables, DAT Hangover)(EP.685)

Bullish:

• $BTC - CBDCs would drive demand for bearer cryptocurrencies like Bitcoin as people seek privacy-preserving alternatives to government digital currencies

  • “I think it would really if you saw a number of Western countries pushing a CBDC, I think it would send the price of bearer cryptocurrencies to the moon.”

    Nick·25:22

Bearish:

• $UNISWAP - The dual token/equity structure creates an unsustainable conflict between token holders and shareholders, making value accrual to the UNI token problematic

  • “I don't think it's sustainable to have two parallel cap tables. You kind of have to tell this myth to the token holders that they have a claim on something. But if you have shareholders, why would any shareholder ever agree to fork over revenue to the token holders?”

    Nick·20:09
• $DAT - Digital Asset Trusts face a multi-year hangover period similar to previous market bubbles like ICOs

  • “We are now gonna have a two year hangover as we digest the DATs.”

    Nick·30:16
• $BANKS - Traditional banks face structural headwinds from stablecoins and alternative lenders competing away their business

  • “If the banks can be out competed in various parts of their business, why wouldn't we just let that happen as a free market? Look at LBO financings. Banks used to do all of the senior secured lending on LBO transactions. They don't anymore.”

    Matt·11:51
• $GBP - UK's restrictive £20,000 stablecoin ownership limit will handicap the pound's ability to compete as a digital currency

  • “Do you want the pound to be a stable coin or not? I mean, it's just unbelievable.”

    Matt·22:02