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Bankless Friday Weekly Rollup 
Last Week of May


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TIMESTAMPS & RESOURCES
00:00:00 Injury Updates

00:05:16 Markets
https://pro.kraken.com/app/trade/btc-usd 
https://pro.kraken.com/app/trade/eth-usd 

00:07:22 ETF Update
https://x.com/tier10k/status/1793758369804886200?s=46&t=LKBC7Qtm18FnZ380xCF2pA 

00:09:08 When Will ETFs Launch?
https://x.com/EricBalchunas/status/1795934675380109479 
https://x.com/NateGeraci/status/1795255561753424157 
https://x.com/JSeyff/status/1795933440090452413 

00:11:09 ETH Price Impact
https://imgur.com/a/rkIfckX 
https://www.theblock.co/post/296237/qcp-capital-predicts-spot-ethereum-etf-approvals-could-drive-prices-higher 
https://www.grayscale.com/research/reports/the-state-of-ethereum 
https://thedefireport.io/research/the-turning-point#a-simple-framework-to-think-about-p 
https://x.com/ZachLight16/status/1794778924381082003 

00:19:31 The ETH Narrative
https://x.com/TrustlessState/status/1795595286972383494 
https://youtu.be/vo2PjvZHIR4?si=ICEq25ulL4iaguOg&t=140 
https://youtu.be/rlZo7x2ABHw?si=K6WKpHGP-4_L1k5w&t=50 
https://x.com/jdorman81/status/1792927796353814640 

00:30:26 David's Challenge

00:34:47 The Saylor Pivot
https://x.com/JasonYanowitz/status/1793627497398948193 
https://x.com/BeagleBitcoin/status/1794443617399885986 
https://x.com/nic__carter/status/1792706827748294947
https://x.com/sassal0x/status/1794603287431528522

00:41:05 Presidential Pivot
https://x.com/yugacohler/status/1794540212254589369 
https://twitter.com/BitcoinMagazine/status/1794535395176366260?t=zcNFn9egY0fRCpxYNRu7sQ&s=19 
https://www.theblock.co/post/297504/biden-campaign-shifts-crypto-stance-engages-crypto-industry-presidential-elections-2024?utm_source=twitter&utm_medium=social 

00:47:21 Celeb Coins
https://x.com/Caitlyn_Jenner/status/1794886435985846680 
https://www.coingecko.com/en/coins/caitlyn-jenner 
https://x.com/Caitlyn_Jenner/status/1795269306693075404 
https://x.com/Caitlyn_Jenner/status/1795277298490605934 
https://x.com/Caitlyn_Jenner/status/1795973191325585733 
https://x.com/coffeebreak_YT/status/1795948137397338120 
https://x.com/waleswoosh/status/1795046157674045567 

00:57:09 L2 Update
https://l2beat.com/scaling/summary 
https://x.com/jessepollak/status/1795572376555712551 
https://x.com/0xDesigner/status/1794040845642957102 

00:59:57 ENS L2
https://x.com/ensdomains/status/1795440186513576318 

01:01:33 Taiko Mainnet
https://x.com/taikoxyz/status/1795078728768483464 

01:03:14 Solana Updates
https://forum.solana.com/t/proposal-for-enabling-the-reward-full-priority-fee-to-validator-on-solana-mainnet-beta/1456/97 

01:05:52 ETH vs SOL Debate

01:06:32 Gary Takes Another L 
https://x.com/iampaulgrewal/status/1795511035870285827 

01:08:20 Gemini Earn Updates
https://x.com/Gemini/status/1795819898049884468 
https://x.com/JSeyff/status/1795928574878245126 

01:10:18 Railgun Volume Record
https://thedefiant.io/news/regulation/railgun-privacy-protocol-surpasses-usd1b-in-volume-amid-crackdown-on-crypto-mixers 

01:13:29 Warpcast Bankless Frame
https://warpcast.com/bankless/0xca3e17df?utm_source=

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Is it all vibes? Always has been.

Kyla Scanlon is a writer, podcaster, analyst, founder of financial education company Bread, and an all around brilliant explainer of things hard to explain.

Expect to learn why economies are vibe reflectors, Kyla’s “economic kingdom” model and an overview on the current state of economic affairs.

Financial literacy is a superpower and Kyla managed to compress this topic that people have been trying to figure out for ages in an easy to understand economics toolbox. 

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🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
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🌐 CARTESI | APPLY FOR A GRANT
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🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 

🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo 
 
⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum 

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TIMESTAMPS

0:00 Intro
6:55 The Vibes Economy
12:10 Understanding Money & Finance
17:04 The Economic Kingdom
20:37 The Monetary Castle
28:35 The Fiscal Castle
37:47 Vibes are the Economy
56:23 The Deciders
1:00:55 Housing Market
1:06:58 The Labor Market
1:13:35 Wealth Inequality
1:19:12 Energy
1:23:01 The Economics Toolbox
1:28:03 What’s Next for Kyla
1:33:03 Closing & Disclaimers

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RESOURCES

Kyla Scanlon on X
https://x.com/kylascan  

Kyla Scanlon Website
https://kylascanlon.com/  

Order “In this Economy?” Now
https://www.penguinrandomhouse.com/books/737854/in-this-economy-by-kyla-scanlon/  

Kyla’s “AI Can't Plant Corn (Yet)”
https://kyla.substack.com/p/ai-cant-plant-corn-yet  

WSJ “How Gen Z Is Becoming the Toolbelt Generation”
https://www.wsj.com/lifestyle/careers/gen-z-trades-jobs-plumbing-welding-a76b5e43  

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠  

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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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⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum 
 
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 
 
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku 
 
🌐 CARTESI | APPLY FOR A GRANT
https://bankless.cc/CartesiGovernance 
 
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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  

✨ Mint the episode on Zora ✨
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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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🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
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🔗CELO | CEL2 COMING SOON
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🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 
🗣️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
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 

✨ Mint the episode on Zora ✨
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------
Bankless Friday Weekly Rollup 
4th Week of May
------
📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT
https://www.transporter.io/ 
------
BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2    ⁠ 
🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo 
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 
🗣️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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BANKLESS SPONSOR TOOLS:
 
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2  ⁠ 
 
🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo 
 
⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum 
 
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 
 
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku 
 
🌐 CARTESI | APPLY FOR A GRANT
https://bankless.cc/CartesiGovernance 
 
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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?
 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠