Episode #10
Bathroom Crypto Miner Turned Bankless Co-Founder - David Hoffman | Due Diligence Ep. 10
David Hoffman co-founded Bankless, a media company built on the idea that you can hold and move money without ever touching a bank. He discovered crypto, and things escalated from there. In this episode, David tries to explain to Henrick what "bankless" actually means, and Henrick spends most of the conversation convinced this means keeping cash in a mattress or a satchel. David explains that his hardware got so hot and loud mining ethereum he had to move it into his father's bathroom. He also reveals that he sold all of his Ethereum, but for how much? Henrick presses David on banks, blockchains, coins on the sidewalk, capital gains tax, and proposes that AI agents should get a regulated forty hour work week. David explains: ■ Why he calls a blockchain a ledger ■ How mining Ethereum started in his bedroom and ended in a bathroom ■ Why he sold all of his Ethereum ■ Whether selling below the peak counts as a mistake ■ How capital gains tax applies once crypto becomes "government dollars" ■ Why Henrick thinks AI agents deserve an eight hour work day This conversation covers Bankless, Ethereum, crypto mining, blockchain, capital gains tax, decentralization, AI agents, regulation, and what happens when a venture capitalist tries to understand crypto for the first time. —— About Comp AI Comp AI helps companies build real compliance programs for SOC 2, ISO 27001, GDPR, HIPAA, and more using AI-driven automation. We focus on continuous compliance, audit readiness, and defensible infrastructure, without spreadsheets, chaos, or manual work.
