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Bankless Friday Weekly Rollup
First Week Of May
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BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2     ⁠ 
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle  
🌐 CARTESI | APPLY FOR A GRANT
https://bankless.cc/CartesiGovernance 
🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo  
🏠 CASA | SECURE YOUR GENERATIONAL WEALTH
https://bankless.cc/Casa  
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku  
⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum  
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TIMESTAMPS & RESOURCES
00:00:00 Start
00:01:04 David's Eye Update
https://x.com/TrustlessState/status/1783846598813814785 
00:05:52 Markets
https://pro.kraken.com/app/trade/btc-usd 
https://pro.kraken.com/app/trade/eth-usd 
https://twitter.com/nicrypto/status/1785607112682246286 
00:11:17 BTC Miners Struggling 
https://twitter.com/RhoRider/status/1784720608691159410 
00:13:55 BTC to $3.8 Million?
https://twitter.com/DeItaone/status/1785695402819207296 
00:18:52 Solana Season Over?
https://x.com/0xGumshoe/status/1784240017017069849 
00:25:31 The $EIGEN StakeDrop
https://twitter.com/eigenfoundation/status/1785000124646572108 
00:30:31 The 2 Token Model
https://imgur.com/YE7PBL3 
00:34:36 Distribution Details
https://imgur.com/y7BEqUu 
00:39:29 Locked Tokens
https://x.com/TrustlessState/status/1785729436895084571 
00:47:33 Eigen Team Perspective
https://twitter.com/jchervinsky/status/1785373696862924997 
00:56:51 Industrial Airdrop Farmers
https://twitter.com/Takuiten/status/1785220889161998635 
01:01:05 CZ Sentenced to Jail
https://x.com/BitcoinMagazine/status/1785384669812273570 
https://x.com/cz_binance/status/1785465555899822488 
https://twitter.com/MikeIppolito_/status/1785388427849961678 
01:08:48 Stripe Crypto Support
https://x.com/collision/status/1783559623511011535 
https://twitter.com/RyanSAdams/status/1783854777622724683 
01:10:55 Visa's Onchain Dashboard
https://twitter.com/cuysheffield/status/1783471909533106610 
01:12:04 USDC overtakes Tether
https://visaonchainanalytics.com/transactions 
https://x.com/paoloardoino/status/1785645617651274040 
01:13:42 Tokenizing Treasuries
https://www.franklintempleton.com/press-releases/news-room/2024/franklin-templeton-announces-availability-of-peer-to-peer-transfers-for-franklin-onchain-u.s.-government-money-fund 
01:14:55 AAVE V4
https://x.com/aave/status/1785749923893223485 
01:17:22 Coinbase Integrates Lightning Network
https://www.coinbase.com/blog/coinbase-integrates-bitcoins-lightning-network-in-partnership-with
01:17:58 The War on Crypto
https://consensys.io/blog/consensys-suing-sec-to-defend-ethereum-ecosystem 
https://www.ic3.gov/Media/Y2024/PSA240425 
https://twitter.com/RyanSAdams/status/1783586883194265820 
01:22:12 Square and Cash App Investigated
https://x.com/RyanSAdams/status/1785751225062809832 
01:22:56 Roger Ver Tax Fraud
https://www.justice.gov/opa/pr/early-bitcoin-investor-charged-tax-fraud 
01:24:37 Etherscan Bankless Partnership!
https://twitter.com/etherscan/status/1785357882181214215 
01:25:42 Meme of The Week
https://x.com/dabit3/status/1785886486165942380 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠ 

While it's still early in the race, Base is now one of Ethereum’s largest L2s. 
In today’s episode, we brought back on repeat guest and co-creator of Coinbase’s L2, Base, Jesse Pollak. 
We cover:
- How Base plans to bring billions of users onchain
- How Base is increasing its scale by 400x
- How Coinbase is using Base to be more onchain 
- Onchain Summer II
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transporter.io
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BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2     ⁠  
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle  
🌐 CARTESI | APPLY FOR A GRANT
https://bankless.cc/CartesiGovernance 
🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo  
🏠 CASA | SECURE YOUR GENERATIONAL WEALTH
https://bankless.cc/Casa  
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku  
⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum 
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TIMESTAMPS
0:00 Intro
4:41 Base’s First 8 Months
9:23 The Road to 1 Giga Gas Per Second
18:39 Why More Demand For Base? 
21:26 Cost to Send Transactions on Base
23:59 Non-Ethereum DA Solution?
25:59 Scaling Via L3s on Base?
27:17 Parallelization Solution?
29:34 Will Base Make Transactions Free?
38:18 Coinbase's Relationship With Base 
46:18 Base Is Centralized Critique 
50:17 The Base Flywheel
57:46 Onchain Summer II 
58:36 Next Target Demo to Come Onchain
1:00:42 Base Independence
1:02:19 1 Billion People Onchain
1:03:25 Closing & Disclosures
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RESOURCES
Onchain Summer II
https://www.base.org/  
Jesse Pollak
https://twitter.com/jessepollak  
Jesse’s 1st Base Episode
https://youtu.be/7dGU0_eEjq8  
Coinbase
https://twitter.com/coinbase  
Base
https://twitter.com/base  
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures 

“The U.S. is trying to disconnect from Ethereum," that’s what Joe Lubin the CEO of Consensys said in today’s conversation. He was talking about those in power trying to unplug Ethereum from the citizens.
The SEC is going after Kraken, Coinbase, Uniswap and Metamask. They’re trying to turn every non-custodial wallet into a broker-dealer.
We brought on Joe Lubin, a crypto OG and CEO of Consensys the company behind a number of massive crypto projects including the popular Metamask wallet, and Matt Corva, the General Counsel at Consensys, leading the charge against the SEC 
Joe and Matt are producing evidence that the SEC is coming after Ethereum itself. Sending discovery requests to Ethereum core developers, threatening their employers - pushing a coordinated effort to claim Ether is a security so they can control it.
So Consensys is taking them to court to settle the issue. If they’re successful it’ll be the first time we get a clear court ruling that Ether is a commodity and not a security.
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📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT
transporter.io
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BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2     ⁠  
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle  
🌐 CARTESI | APPLY FOR A GRANT
https://bankless.cc/CartesiGovernance 
🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo  
🏠 CASA | SECURE YOUR GENERATIONAL WEALTH
https://bankless.cc/Casa  
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku  
🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS
https://bankless.cc/4aykesD  
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TIMESTAMPS
0:00 Intro
6:35 SEC vs. Ethereum 
9:45 The Uniqueness of This Case
11:15 88,000 Pages to the SEC
12:11 SEC Going After Devs? 
14:47 The Wells Notice
16:27 ETH ETF
17:58 Outcome of Consensys Winning  
21:29 U.S. Law Process & Timeline
25:55 Ether Isn’t a Security
34:50 Gary’s Confidence Conspiracy  
41:17 MetaMask Isn’t a Broker Dealer
47:10 What is Prometheum? 
51:10 How Can the SEC Win? What Happens to Crypto? 
55:49 What the Crypto Community Can Do
59:50 What Happens Next?
1:03:15 Closing & Disclaimers
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RESOURCES
Consensys Complaint 
https://consensys.io/crypto-regulations/defend-ethereum 
https://assets.ctfassets.net/gjyjx7gst9lo/Bu1bK7DF3tSig9Atde0lM/2fcaadea2b111a8c3f3ebce4a6a2386c/Consensys_sues_the_SEC_in_defense_of_the_Ethereum_ecosystem.pdf  
Joe Lubin
https://twitter.com/ethereumjoseph  
Matt Corva
https://twitter.com/MattCorva  
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures 

Eigenlayer token details are here! Don’t call it an Airdrop - This is a Stakedrop — because that’s the only thing you can do with your EIGEN tokens out of the gate. 
15% of the total Supply of Eigen distributed over multiple Seasons, Season 1 starts today with 5% of the supply, and one of the most sophisticated set of smart contracts on Mainnet. EIGEN is not your typical ERC20 token. It’s got this feature called “Intersubjective Forking” that increases the scope of what Eigenlayer can provide security for. 
In addition to the token details getting released, we’re also getting the Eigen Foundation, with a new director Robert Drost - who joins Sreeram today to walk us through everything you need to know.
Foundation Page:
https://eigenfoundation.org/ 
Claims Page:
https://claims.eigenfoundation.org/ 
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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 
🔐 SAFE | USE SAFE, GET REWARDED
https://bankless.cc/SafePass_pod 
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku   
🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS
https://bankless.cc/4aykesD 
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TIMESTAMPS
 00:00:00 Start
00:03:39 What is a Stakedrop?
00:08:51 Allocation Details
00:15:53 Phase 1 and Phase 2
00:19:38 Locked Token Utility
00:24:30 When Are Tokens Unlocked?
00:31:04 Intersubjective Forking
00:36:30 Building WWIII Resistance
00:42:15 History Behind Their Decision
00:53:03 Eigenlayer Foundation
00:56:38 Future of Points
00:58:38 US Citizens Blocked
01:01:47 Token Allocation Thoughts
01:05:10 What's Next?

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RESOURCES
Foundation Page:
https://eigenfoundation.org/ 
Claims Page:
https://claims.eigenfoundation.org/ 
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠ 

✨ DEBRIEF | Ryan & David unpacking the episode:
https://www.bankless.com/debrief-the-jeremy-allaire-interview 
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Joining the podcast today we have the man behind the largest US based stablecoin, Jeremy Allaire, the Founder of USDC Circle.
A year ago USDC depegged in the face of major banks like SVB and Silvergate collapsing. How did Jeremy deal with that? What year is crypto in internet years? Why don’t we have a venmo for crypto yet? Fast forward to 2030, what’s the total value of stablecoins?
Stay tuned because we ask all that and much more.
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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
🔐 SAFE | ATTEND SAFE{CON}
https://conf.safe.global/ 
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku   
🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS
https://bankless.cc/4aykesD 
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TIMESTAMPS
0:00 Intro
5:47 SVB Crisis Reflections
24:00 Crypto Age in Internet Terms
31:15 The Future of Stablecoins
41:42 The Crypto Venmo
56:18 Blackrock’s BUIDL Fund
1:01:44 US Government
1:16:35 USDC vs Tether
1:22:00 Central Bank Stablecoins
1:28:14 Regulatory Protectionism
1:32:25 Closing Thoughts
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RESOURCES
Jeremy Allaire
https://twitter.com/jerallaire  
USDXX - What backs a USDC?
https://www.blackrock.com/cash/en-us/products/329365/circle-reserve-fund  
Circle
https://www.circle.com/en/  
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠  

Bankless Friday Weekly Rollup
Last Week Of April
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🔐 SAFE | USE SAFE, GET REWARDED. CHECK OUT SAFE PASS
https://bankless.cc/SafePass_pod 
------
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 
🔐 SAFE | USE SAFE, GET REWARDED
https://bankless.cc/SafePass_NL 
🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle 
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku 
🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS
https://bankless.cc/4aykesD 
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TIMESTAMPS & RESOURCES
0:00 Intro
4:19 Markets - Thanks Kraken
5:39 Total Crypto Market Cap
5:46 L2 Update - Brought to you by Mantle
https://l2beat.com/scaling/costs 
7:42 10M active wallets are using Ethereum ecosystem every week! 
https://twitter.com/RyanSAdams/status/1782756457915506876 
8:19 Base is the #2 chain for USDC Supply - Coinbase trying make a payment chain
https://vxtwitter.com/jessepollak/status/1783503518156136498 
9:48 ENTER RUNES
Runes changed the game for a day 
https://twitter.com/mikealfred/status/1781684678782791830 
https://www.okx.com/web3/marketplace/runes?channelid=ACEAP6502255 
https://twitter.com/ercwl/status/1782029205770744125?s=46 
https://twitter.com/hlopez_/status/1781501372200059336 
https://ycharts.com/indicators/bitcoin_average_transaction_fee 
22:56 ETF INFLOWS:
The inflows into BTC spot ETFs are not back yet 
https://twitter.com/carpenoctom/status/1783327357652042187 
https://x.com/EricBalchunas/status/1782740051929006496 
https://www.coindesk.com/business/2024/04/20/grayscale- reveals-015-fees-for-its-bitcoin-mini-tr 
https://twitter.com/thomas_fahrer/status/1781809562070442047 
28:03 Q1 ‘24 income statements for Ethereum and MakerDAO
https://twitter.com/tokenterminal/status/1782858613943321016 
33:01 CZ might spend 3 years in prison 
https://twitter.com/johnreedstark/status/1783107482325225947 
https://twitter.com/rizzn/status/1783199755541066103 
https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.8 
https://twitter.com/RyanSAdams/status/1783195468840697896 
40:21 Samourai wallet founders arrested
https://twitter.com/RyanSAdams/status/1783222828361281847 
https://www.justice.gov/usao-sdny/pr/founders-and-ceo-cryptocurrency-mixing-service-arrested-and-charged-money-laundering 
https://x.com/RyanSAdams/status/1783254322894999978 
46:39 Consensys sues SEC
https://twitter.com/fintechfrank  
52:56 Renzo announced its token launch! 
https://x.com/RenzoProtocol/status/1783277589525594231 
https://www.bankless.com/renzo-madness 
https://twitter.com/DefiIgnas/status/1783083767449432189 
https://twitter.com/dcfgod/status/1782978862772814000?ref=bankless.ghost.io 
https://twitter.com/Ian_Unsworth/status/1783163546857099730 
58:57 Telegram allows USDT payments
https://twitter.com/ton_blockchain/status/1781294475219812665 
https://twitter.com/cstanley/status/1782459974313988281 
https://twitter.com/dannypostmaa/status/1783541623839740030 
1:00:17 OP is releasing its multichain upgrade!
https://twitter.com/OPLabsPBC/status/1780987940526534943 
1:01:09 Liam Shiba Inu raised $12M for its new chain 
https://x.com/treatsforShib/status/1782490407655592242 
https://shibarium.shib.io/ 
1:02:32 Lido is starting with DVT - Stake with friends - making lido more decentralized?
https://twitter.com/LidoFinance/status/1780317961854636384 
1:04:13 IRS keeps labeling self-custody wallets as brokers 
https://twitter.com/valkenburgh/status/1781380879476043940 
https://www.irs.gov/pub/irs-dft/f1099da--dft.pdf 
https://twitter.com/TheCryptoCPA/status/1781403340045197813 
https://twitter.com/jchervinsky/status/1782061785119367284 
https://x.com/lex_node/