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🎬 DEBRIEF | Ryan & David unpacking the episode:
https://www.bankless.com/debrief-the-timothy-massad-interview 
 
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Are stablecoins a threat to national security? How should the US government step in?
 
We brought Timothy Massad, the perfect guest to help us answer these hard questions. He was the Obama appointed chair for the CFTC, the guy who helped designate Bitcoin as a commodity over 10 years ago.
 
We touch on:
- The importance of stablecoins.
- How stablecoins compare to eurodollars.
- Weather crypto and sanctions can co-exist.
- A sensible policy for stablecoins.
- And finally, his thoughts on what happens next.
 
Timothy brings a whole different perspective from what we’re used to in our crypto bubble. That’s exactly why you should tune into this episode.
 
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TIMESTAMPS
 
0:00 Intro
6:34 Timothy’s Background
9:30 Security vs Commodity
12:46 Stablecoin First Impressions
21:42 The Importance of Stablecoins
28:26 History of the Eurodollar
38:46 Economic Sanctions
47:47 Stablecoins and Sanctions
1:08:59 A Stablecoin Future
1:13:37 A CBDC Future
1:18:49 What about Privacy?
1:20:58 The Role of the Dollar
1:23:18 Stablecoins Abroad
1:25:43 Predictions
1:28:10 Closing & Disclaimers
 
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RESOURCES
 
Timothy Massad
https://x.com/timmassad 
 
Stablecoins and National Security by Timothy Massad
https://www.brookings.edu/articles/stablecoins-and-national-security-learning-the-lessons-of-eurodollars/ 
 
Five Perspectives on Stablecoins by Nic Carter
https://medium.com/@nic__carter/five-perspectives-on-stablecoins-5bc20076270a 
 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠  

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Matt Hougan is the CIO at Bitwise, and has been one of the best people to talk to when it comes to understanding the ETF process, and the impact of ETFs on the crypto markets. 
Today we dive into the specifics on what exactly the ETF approval means for ETH.
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TIMESTAMPS
00:00 Intro
05:46 What Exactly Happened?
08:45 Was This Really Political?
12:11 Who's Responsible For This
16:46 Next Steps For ETF
20:36 Matt's ETF Story
22:44 ETF Price Impact
27:38 ETF Inflow Predictions
34:50 Explaining The ETH Narrative
38:23 Matt's 2 Minute Pitch
45:12 How Bitwise's Job Changes
49:01 ETH Charts
54:31 Legislation
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RESOURCES
Matt on X: https://x.com/Matt_Hougan 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠ 

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Bankless Friday Weekly Rollup 
4th Week of May
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📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT
https://www.transporter.io/ 
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🛞MANTLE | MODULAR LAYER 2 NETWORK
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🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku   
⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum   
🌐 CARTESI | LINUX-POWERED ROLLUPS
https://bankless.cc/CartesiGovernance 
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TIMESTAMPS & RESOURCES
0:00 Intro
3:52 MARKET
WatcherGuru/status/1792646445075431627
https://ycharts.com/companies/ETHE/discount_or_premium_to_nav 
https://x.com/Timccopeland/status/1793653604387328381 
https://x.com/bx1core/status/1792712990141338049 
https://imgur.com/hbveuq5 
https://x.com/pythianism/status/1793369623301403024 
https://x.com/UncleRewards/status/1793623611405947147 
https://imgur.com/uevxXfe 
https://www.coinglass.com/bitcoin-etf 
18:54 How the odds of an ETH ETF approval suddenly swung in our favor 
https://x.com/BanklessHQ/status/1791140496397468064 
https://x.com/RyanSAdams/status/1791147869791002699  
https://www.youtube.com/watch?v=bFEGCmHqBT4&t=898s 
https://x.com/songadaymann/status/1792667124919599263 
https://x.com/EricBalchunas/status/1792636523050906102 
https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources/ 
https://x.com/JSeyff/status/1793039305125790105 
26:28 Letter Urging ETH ETF Approval from Congress - THIS MORNING
https://x.com/EricBalchunas/status/1793620303966503267 
https://x.com/CGasparino/status/1793268472484425865 
https://x.com/nategeraci/status/1792993889189593502 
https://x.com/JSeyff/status/1792650597377757456 
29:50 Promethum is launching its Ethereum custody 
https://fortune.com/crypto/2024/05/20/controversial-digital-assets-firm-prometheum-launches-long-awaited-ether-custody-argues-that-existing-laws-work-for-crypto/ 
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409274 
https://x.com/RyanSAdams/status/1792907980624523549 
https://x.com/jchervinsky/status/1793398130269954346 
32:16 FIT21 passes the House 279 - 136 🎉
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409277 
https://x.com/avichal/status/1793370415664148496 
https://youtu.be/_QvOzpKX3I4?si=__6q_Ffl-PU7R4oe 
https://x.com/BanklessHQ/status/1793291448965624088 
https://pelosi.house.gov/news/press-releases/pelosi-statement-fit21-legislation 
https://x.com/BanklessHQ/status/1793367943671402923  
43:12 Another win for crypto this week - “Choke Point Marty is done”
https://x.com/nic__carter/status/1792569285799186641 
https://x.com/twobitidiot/status/1793606319301447920  
https://www.sec.gov/news/statement/gensler-21st-century-act-05222024 
https://x.com/twobitidiot/status/1793399316012318821 
https://x.com/zerohedge/status/1792659983370523096 
https://x.com/nic__carter/status/1792660581272670650 
https://x.com/meanwhilelife/status/1792936024244466174 
Exhibit A: https://x.com/ewarren/status/1641138829162577928 
Exhibit B: https://x.com/WatcherGuru/status/1793261382676119866 
Exhibit C: https://x.com/BitcoinMagazine/status/1793025045310115910 
Exhibit D: https://x.com/SMTuffy/status/1793604355591110692 
Exhibit E:  https://x.com/SenLummis/status/1793654641974288558 
53:32 ETH ETF just reopened the window for protocol airdrops! 
https://x.com/TrustlessState/status/1792958932228653249 
55:09 Yuga Labs ‘Punk World’ 
https://x.com/cryptopunksnfts/status/1792594316172341315 
https://x.com/CryptoGarga/s

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The Ether spot ETF has officially been approved marking a landmark day for Ethereum and crypto as a whole. We're going live today to discuss the extent of this approval and what it means for Ether the asset, and more broadly the entire crypto industry. This is a big deal and we're stoked to be sharing this moment live with the Bankless Nation.
 
James on X: https://x.com/JSeyff 
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TIMESTAMPS & RESOURCES
00:00 It Happened
05:09 ETF Approved!
07:24 Boom Approval Surprise
09:11 Why Did This Happen?
13:38 When Will The ETFs Go Live?
15:47 ETF Inflows
19:18 ETH Education Campaign
21:37 Staked ETF?
24:14 What Coin is Next?
 
------
Not financial or tax advice. See our investment disclosures here:
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This is a huge week for crypto in DC and we have on Congressman Patrick McHenry to tell us all about it. 
Three big things: 
1) SAB 121 repeal bill going to Biden’s desk - will he let it pass or veto?
2) SEC approve/deny Ethereum ETF - decision due thursday. 
3) House vote on FIT bill you’ve been championing - well talk about that bill.
Stand with Crypto: https://www.standwithcrypto.org/politicians 
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TIMESTAMPS
00:00 Start
04:05 Introduction to Congressman McHenry
05:11 Crypto in DC Temp Check
07:34 Generational vs Partisan Divide
12:57 Has Biden's Crypto Sentinent Changed?
16:46 FIT 21 Act
20:10 Security vs Commodity
23:18 Startups Becoming Commodities
26:34 Why Should Congress Support?
29:22 Why Patrick Cares About Crypto
33:25 Stablecoin Legislation
35:37 Will Crypto Still Be Under Attack?
38:24 Trump vs Biden Crypto Policies
40:41 How To Get Involved
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RESOURCES:
Patrick on X: https://x.com/PatrickMcHenry 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠

The ETF approval deadline is coming on May 23rd and the odds just got.... wayyyy higher! Ryan and David explain. 
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------
TIMESTAMPS & RESOURCES
0:00 Intro
0:45 Bloomberg Analyst Update
https://x.com/EricBalchunas/status/1792636523050906102 
https://x.com/JSeyff/status/1792636774067413502 
4:20 $ETH GOD CANDLE
https://pro.kraken.com/app/trade/eth-usd 
7:25 Eleanor
https://x.com/EleanorTerrett/status/1792640682374393894 
8:05 .ETH People
https://x.com/JSeyff/status/1792637403682701422 
https://x.com/TrustlessState/status/1792638235799122269 
18:10 Jake Chervisnky
https://x.com/jchervinsky/status/1792645992463978533 
20:58 Warren Meme
https://x.com/BillHughesDC/status/1792646322551451718 
21:10 Mike Ippolito Sentiment Bottom Call 
https://x.com/MikeIppolito_/status/1791829053881602454 
https://x.com/MikeIppolito_/status/1792641028844904753 
24:51 Institutional Narrative 
28:58 $COIN Stock Price
29:20 S-1 Approvals
https://x.com/JSeyff/status/1792650597377757456 
33:08 SEC Asks Exchanges to Update Filings
https://x.com/tier10k/status/1792655223103566116  
35:16 $ETHE
36:26 Chart TA'ing 
40:23 Polymarket
https://polymarket.com/event/ethereum-etf-approved-by-may-31?tid=1716234132508 
40:48 Ryan's Bear Case
46:23 Closing & Sassano Victory Lap
https://x.com/TrustlessState/status/1792640883042443578 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠