ROLLUP: The Debasement Trade is Back | Bessent Put | Tokenized Stocks | AI Capital Crunch

Bitcoin may be entering a new cycle just as the Treasury starts pushing back on rising yields. Ryan and Haseeb break down the Bessent Put, the return of the debasement trade, Coinbase’s tokenized stocks push, Ethena’s token reset, and whether AI is starting to consume the world’s capital.

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TIMESTAMPS & RESOURCES

0:00 Intro

0:31 Crypto Energy Shift & Bitcoin’s New Cycle
x.com/hosseeb/status/2091945147357675623
theblock.co/news/markets/2026-08-23-bitcoin-re…

5:55 The Bessent Put
cnbc.com/2026/08/24/bessent-1-trillion-treasur…
x.com/DeItaone/status/2091852135675658265
x.com/CGasparino/status/2091918792146247833

14:11 Druckenmiller vs. Bessent
x.com/NickTimiraos/status/2092023686148817227

23:31 Debasement Trade Returns
cnbc.com/2026/08/26/debasement-trade-to-take-b…
x.com/TimmerFidelity/status/2092991527127789913
x.com/fundstrat/status/2091895628003528804

30:03 Coinbase Tokenized Stocks
x.com/base/status/2091918696620896485

41:14 Ethena’s Token Reset
x.com/EthenaFndtn/status/2092976592738001383
x.com/hosseeb/status/2090828427574268023

53:59 AI Capital Hunger
x.com/RaoulGMI/status/2092704327227867585

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