Highlights
Two clean co-hosts and a Val sandwich.
Baked opened by explaining he'd just gotten out of the shower, panicked at Val's hard-stop text, then realized he was actually early — "the first time I've been home and clean in a space in months." CEELOS had the identical shower-alarm experience, which put Val in the middle of what he described as a sandwich between two newly de-stinked co-hosts.
Val's news block.
The headline items: FinCEN pulled two long-pending proposals (unhosted/self-custodied wallets and crypto mixers) with notices filed for Federal Register publication; the CFTC is drafting its own crypto framework after the Clarity Act stalled in the Senate; Pump led weekly protocol revenue at ~$17.9M with Hyperliquid at ~$14.6M; ICE filed with the SEC for a 24/7 tokenized US stock venue under the innovation exemption; BNB Chain is being cited as passing Ethereum on tokenized stock activity. Her read on the tape: alts like ADA, FET and ENA moved, privacy and AI names were the narrative pockets, "not a broad alt season."
Live DYOR.
Having rattled off a dense block of acronyms, Val stopped mid-flow to look one up on air, admitting she'd handed over information she couldn't define — then came back with FinCEN as the Financial Crimes Enforcement Network, a Treasury bureau, and clarified that the withdrawn items were surveillance and reporting proposals, not criminal statutes. Honest, and more useful than the original bullet.
Slick Ric calls in from a standstill.
He joined mid-traffic-jam on a five-hour drive to a fair, having moved roughly a mile, with a full day of paperwork, Airbnb hunting, grocery runs and health and fire inspections still ahead of him. He also floated taking over a shuttered coffee hut, which turned into a side quest where he discovered CEELOS had never read his text 17:28.
The October 10th thesis.
Slick's entire frame for the month is last year's October 10th liquidation event — he described waking up to charts cut in half and the timeline now bracing for a repeat. His call: everyone's looking the same direction, so it rips the other way. Baked countered with a golden cross on the 200-day moving average as a bullish confirmation, and Slick's response 15:00 was to warn against leaning on signals everyone else reads at the same time, since regulation and institutional adoption put the market in genuinely uncharted territory.
Regen Noir, explained properly.
CEELOS walked through Burningbush's mint in detail: a 1940s-style Web3 noir parody built around the regens, the spaces community and Stefano's Steakhouse in Brooklyn — written, scored, site-built and read aloud in spaces by Burningbush himself. 400 passes at 0.006 on Base, all holders get 20 chapters plus a digital season one book; inside that are 10 first-print passes (physical numbered book), 6 co-writer passes (help write a season two chapter) and 3 passes with regens attached. Burn five commons for a VIP seat at Stefano's for the rest of season one; burn ten for one of six whale table dinner spots — meal on the house, travel on you 20:43.
The $125 gas mystery.
CEELOS has been unable to send Val the Frankie's blind boxes he minted for her — the wallet quotes him roughly $125 in gas and calls the transfer unavailable, despite people listing and selling the same boxes freely. Val offered to just pay him and sort shipping later; CEELOS, visibly annoyed on principle, said he'd open a Discord ticket, mostly so she doesn't miss her 10,000 flies 27:48. Elsewhere in Frankie land, the gold Frankie — an 18k-gold-plated silver figure — was revealed by a holder outside the US and sold for 0.69 ETH, a number CEELOS pronounced culturally appropriate 29:57.
Blast winds down, and the L2 question.
CEELOS flagged Blast shutting its network because operating costs now exceed revenue, with users having until Oct 26 to withdraw. He walked the arc out loud: $2B TVL to roughly $32M, "the future of Ethereum" to please-get-your-stuff-out. Baked's answer to whether we're building too many chains was an unhesitating yes — his pattern is three or four hot months, slow decline, then everything cycles back to ETH, SOL and BTC, with abstract as his own example.
A scam mint, and a community that caught it.
Discussing a project that dropped the previous day, Baked cited sleuthing showing ~94% of minting wallets were funded by the deployer — effectively the team minting to itself. The more interesting part was the response: he noted the same rallying he'd seen after a recent drain, with people flagging it in advance, and read it as the space "healing in a way." CEELOS added the grim silver lining that scammers only show up where there's actually money and activity.
The Pompidou, and whether NFT artists end up in museums.
CEELOS brought the Centre Pompidou's 2026–2031 digital art committee, explicitly covering on-chain and generative work, as validation that this isn't just 2021 flipping. That opened into the best stretch of the hour: CEELOS imagining pointing at a museum wall and saying "that one's mine," Baked recalling the digital museum he was placed in after his first NFT purchase, and his honest confession that he once lived across from the Ringling in Sarasota, walked through it, and didn't connect with any of it — whereas PFP art is the art that resonates with people now. CEELOS then pitched physical artists on minting the piece, pricing shipping into the sale, and letting the buyer keep both the on-chain certificate and the physical work 43:47.
Polymarket token tease, with disclaimers.
Filed firmly under "don't say you heard it on Re:Building Together": CEELOS relayed a decrypt roundup that Polymarket's CEO teased a possible token announcement with speculation pointed at Token 2049 — then cheerfully admitted he doesn't use Polymarket and wasn't entirely sure what it is. Baked guessed a Kalshi-type site.
Household pest report.
Baked's new house has good AC and an ant problem, with bites on his chest, back, toe and — live, mid-space — his hip. CEELOS countered with the previous night's neighborhood blackout that hit the exact moment he cracked his last beer, killing the fan until 5:30am and leaving him blanket-less and devoured by a mosquito he has since promised a slow, limb-by-limb reckoning.
Burningbush checks in from the sideline.
He hopped up mid-soccer-game to pin tonight's space, promising stories and a low-key vibe: "nothing super serious, and we'll just be hanging out." CEELOS sent him off with the compliment that he does something like 67 different voices, which led to a brief, correct, self-congratulatory identification of Dan Castellaneta.
Topic timeline
| Time | Topic |
|---|---|
| 1:01–4:39 | Intro track, cold open |
| 4:39–6:51 | Episode 345 kickoff, Val's Ape Church stream + pool playoffs, new format |
| 7:04–11:25 | Val's macro news block: FinCEN, CFTC, protocol revenue, tokenized stocks, uptober |
| 12:04–16:23 | Slick Ric in traffic, long positions, the October 10th thesis, data vs. uncharted territory |
| 16:23–18:12 | Fair logistics, the coffee hut idea, unread texts |
| 18:12–22:28 | Regen Noir mint breakdown: tiers, burns, Stefano's dinners |
| 22:28–30:52 | Frankie's blind boxes, transfer gas problem, flies/nibbles, the gold Frankie sale |
| 31:04–34:25 | Blast winding down; are there too many chains? |
| 34:36–38:15 | Yesterday's scam mint, deployer-funded wallets, community response |
| 38:15–48:52 | Centre Pompidou, NFT artists vs. museums, phygital minting, display-your-NFTs-in-game ideas |
| 49:08–51:06 | Polymarket token speculation |
| 51:29–53:46 | Ants, blackouts and mosquito vengeance |
| 54:25–1:00:54 | Burningbush pin-up, mint reminders, full week schedule, close |
Notable quotes
I think this is the first time I've been home and clean in a space in months.
I think they're gonna blow this shit to the fucking moon, and people are gonna be sick.
We're in uncharted territory, so… all these people — they all use the same thing.
I think the space in itself is healing in a way.
Imagine going to a museum and being like, see that one? That one's mine.
I used to be the idea guy for a reason.
Who said what
- CEELOS (@CEELOSFIGG) — host; ran the new format, delivered the Regen Noir mint walkthrough, the Blast wind-down, the Pompidou item and the Polymarket tease, and spent a good chunk of the hour publicly fighting a $125 gas quote on Val's behalf.
- Baked (@Bakedmetax) — co-host; the market-structure and sentiment read (golden cross, too many chains, 94% deployer-funded wallets), plus the most grounded take on NFT art vs. museum art and a live ant-bite incident.
- ValerieKates (@valeriekates_) — co-host; delivered the macro/regulatory news block and then looked up her own acronyms on air. Left at the hard stop for her Ape Church stream with Bordo Saka.
- SLICK RIC (@richj530) — speaker; called in from a stalled five-hour drive to a fair with his October 10th contrarian thesis, a three-month long position, and a coffee-hut business idea he'd already texted CEELOS about.
- Burningbush (@BurningBush_eth) — speaker; dropped in briefly from his son's soccer game to pin tonight's Regen Noir reading and promise a relaxed storytelling session.
Worth a full listen
- 12:04–16:23 Slick Ric's whole arc: traffic, three months in a long position, last October's liquidation cascade, and the argument that everyone staring at the same indicators is exactly why they won't work. Baked's golden-cross counterpoint makes it a genuine two-sided market conversation rather than a monologue.
- 38:15–48:52 The best stretch of the hour. The Pompidou news opens into museums, Beeple and Jack Butcher, Baked's confession about the Ringling, CEELOS's pitch to physical artists on minting with shipping baked into the price, and the dream of an in-game room with regens on the wall. Summarizing it flattens it.
- 18:12–22:28 If you're considering the Regen Noir mint, CEELOS reads out the full tier and burn structure line by line, including the steakhouse mechanics. Faster than finding the thread.
