According to TechFlow, on October 11th local time (October 12th morning EST 8), Synthetix founder Kain Warwick and Bankless founder David Hoffman had an offline real-life fight in Salt Lake City, Utah.

The competition was co-hosted by Permissionless, a cryptocurrency-themed conference co-hosted by Bankless and Blockworks in Salt Lake City, and Karate Combat.

Kain and David had reached a $500,000 bet on Bankless' sponsorship of his new project, Infinex.

Around 10:40 ET, both players came out. Kain was bigger, but David was more popular. The fight started at 10:44, with two rounds lasting less than 8 minutes.

Kain had a slight advantage in the first round, but David came from behind in the second round, knocking down Kain twice and eventually winning.

The competition attracted market attention. The prediction market Polymarket opened its betting pool as early as September 24, and the trading volume has approached US$60,000 as of the time of writing.

Kain was ahead in odds before the match, but David won in the end, and David's supporters on Polymarket made a comeback. After the match, David gave a speech and announced that he would review the fight next Monday.