Bankless Bankless

It's day 20 and SBF still isn't in jail. What gives? Ryan and David give their thoughts on why that may be and how this all might play out.
Also, stay tuned toward the end of the show for a special guest appearance from our boots-on-the-ground Bahamas correspondent to give their take from the belly of the beast.
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Infura | Join the New Decentralized Infrastructure Network
www.bankless.cc/infura 
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SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/?utm_source=banklessshowsyt 
️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 
------
BANKLESS SPONSOR TOOLS:
️ ️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum 
DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso 
BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave 
TRUEFI | CRYPTO FINANCIAL HUB
https://bankless.cc/TrueFi 
SEQUENCE | ALL-IN-ONE PLATFORM
https://bankless.cc/Sequence 
️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel 
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Timestamps:
0:00 Intro
5:44 SBF to Prison?
https://fortune.com/crypto/2022/11/13/could-sam-bankman-fried-go-to-prison-for-the-ftx-disaster/ 
9:00 Criminal Misconduct
https://twitter.com/RBPFPolice/status/1591864528291221504 
10:25 1M Creditors
https://www.cnbc.com/2022/11/15/ftx-says-could-have-over-1-million-creditors-in-new-bankruptcy-filing.html 
14:21 Alameda Backend
https://www.cnbc.com/2022/11/13/sam-bankman-frieds-alameda-quietly-used-ftx-customer-funds-without-raising-alarm-bells-say-sources.html 
16:30 SBF Backdoor
https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/ 
17:28 Buying Properties
https://www.reuters.com/technology/exclusive-bankman-frieds-ftx-parents-bought-bahamas-property-worth-121-mln-2022-11-22/ 
18:35 $1B Personal Loan
https://www.bloomberg.com/news/articles/2022-11-17/ftx-s-bankman-fried-received-1-billion-loan-from-alameda 
19:08 Cashing Out $300M
https://www.coindesk.com/business/2022/11/18/sam-bankman-fried-cashed-out-300m-in-previous-funding-round-wsj/ 
21:40 NYT Puff Piece
https://twitter.com/nytimes/status/1592296341346320384 
https://twitter.com/TrungTPhan/status/1592349684471037955 
24:15 Liz Hoffman of WSJ
https://twitter.com/lizrhoffman/status/1595184595409969153 
25:30 Alameda CEO
https://twitter.com/Forbes/status/1593615727512227840 
26:14 Pandemic Prevention
https://www.washingtonpost.com/health/2022/11/16/sam-bankman-fried-ftx-pandemic-prevention/ 
27:42 NYT Conference
https://www.news.com.au/finance/money/investing/sam-bankmanfried-to-appear-at-new-york-times-conference-despite-ftx-bankruptcy/news-story/2e02d2fd6e584cc5b3148d0f6ba14a2f 
https://twitter.com/andrewrsorkin/status/1595517635441090565 
https://twitter.com/WSBChairman/status/1595512773177446412 
https://twitter.com/MattWalshInBos/status/1596130827733188608 
https://twitter.com/elonmusk/status/1595591868275826688 
33:50 Grants to Media
https://twitter.com/teddyschleifer/status/1591191408589017088 
https://www.coinage.media/ 
https://www.youtube.com/watch?v=5g9ycHS0xtU 
https://techcrunch.com/2022/07/27/ftx-ceo-leads-trustless-medias-seed-round-to-help-build-community-owned-web3-shows/ 
41:00 Balaji Thread
https://twitter.com/balajis/status/1592661466012061696 
50:45 Political Donations
https://freebeacon.com/biden-administration/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago/ 
https://www.livemint.com/market/cryptocurrency/sam-bankman-fried-ftx-team-among-top-political-donors-before-bankruptcy-11669031663161.html 
https://twitter.com/dankeeler/status/1519780887893790724 
https://www.bloomberg.com/news/articles/2022-11-25/ftx-mcconnell-bankman-fried-super-pac-donation 
https://www.nytimes.com/2022/11/22/business/ftx-sam-bankman-fried-influence.html 
51:47 Returning Money
https://www.texastribune.org/2022/11/29/be

✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-tim-ferriss 
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Tim Ferriss is a 5-time NYT best-selling author, an award-winning podcaster with over 900 million downloads, and a prolific angel investor. After nearly a year of work, he has finally begun to start talking about his secretive NFT drop.
What’s it about? Why’s he spending this next chapter of his life on NFTs? What alpha did he decide to drop on Bankless?
Also, Tim—like some of us, unfortunately—had money in FTX. We ask him about that and his advice for dealing with these tumultuous times.
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📣 Infura | Join the New Decentralized Infrastructure Network
www.bankless.cc/infura 
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🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/?utm_source=banklessshowsyt 
🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 
------
BANKLESS SPONSOR TOOLS:
⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum 
👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso 
🦁 BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave 
📡 TRUEFI | CRYPTO FINANCIAL HUB
https://bankless.cc/TrueFi 
👾 SEQUENCE | ALL-IN-ONE PLATFORM
https://bankless.cc/Sequence 
⚡️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel 
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Timestamps:
0:00 Intro
7:20 Tim a Crypto Guy?
18:00 Tim’s Crypto Trepidations
26:32 What’s in Tim’s Control?
30:20 NFTs & Creative Expression
36:13 Evaluating NFTs
42:30 Tim’s Team
47:10 Tim’s NFT Origins
51:40 Why Tim’s Excited & World Building
1:03:13 Cockpunch
1:22:03 Cockpunch Utility
1:24:40 Supporting Science
1:30:26 Cockpunch Mint Details
1:41:43 Strategizing Cockpunch Community
1:49:46 Storytelling via a New Medium
1:53:00 Next Steps
1:54:10 Tim’s Advice on FTX
Closing & Disclaimers
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Resources:
Trickster makes this world
https://www.goodreads.com/en/book/show/56450.Trickster_Makes_This_World 
Tim Ferriss
https://twitter.com/tferriss 
Cockpunch
www.cockpunch.com 
Saisei Foundation
https://saiseifoundation.org/ 
Fear Setting
https://tim.blog/2017/05/15/fear-setting/ 
The TAO of Seneca
https://tim.blog/2017/07/06/tao-of-seneca/ 
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures 

Thanksgiving 2022
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📣 Infura | Join the New Decentralized Infrastructure Network
www.bankless.cc/infura
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🚀 SUBSCRIBE TO NEWSLETTER:          https://newsletter.banklesshq.com/?utm_source=banklessshowsyt
🎙️ SUBSCRIBE TO PODCAST:                 http://podcast.banklesshq.com/  
------
BANKLESS SPONSOR TOOLS: 
⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum
👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso
🦁 BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave
📡 TRUEFI | CRYPTO FINANCIAL HUB 
https://bankless.cc/TrueFi 
👾 SEQUENCE | ALL-IN-ONE PLATFORM 
https://bankless.cc/Sequence
⚡️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel
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0:00 Intro
4:45 MARKETS
8:30 Down From ATH
https://messari.io/screener
12:55 Calling the Bottom
Cobie - https://twitter.com/cobie/status/1594635144207699969
14:10 Going Bankless
https://www.coingecko.com/research/publications/exchange-withdrawal-ftx-collapse
15:10 Uniswap Polygon ATH
https://twitter.com/sandeepnailwal/status/1594147481709080576
16:15 Profitable Ethereum
https://twitter.com/tokenterminal/status/1594818145402978304
20:20 Black Friday
https://newsletter.banklesshq.com/p/0d234f3f-792b-4d65-ab51-2841b16bbb14
25:00 Will Genesis Fail?
Barry’s Tweet - https://twitter.com/BarrySilbert/status/1408191462324441092
7 Million - https://twitter.com/GenesisTrading/status/1590391027214725120
FTX Exposure - https://twitter.com/GenesisTrading/status/1590836594382032896
Genesis Loan - https://twitter.com/AP_ArchPublic/status/1594386225200234496
Timeline - https://twitter.com/CryptoCred/status/1594818326282534912 
Emergency - https://twitter.com/fintechfrank/status/1594820487582023680 
Letter - https://twitter.com/tier10k/status/1595140018871631873 
Summary - https://twitter.com/TradFiWhale/status/1595235835431075842 
34:25 Genesis Summary
https://twitter.com/TradFiWhale/status/1595235835431075842 
41:05 Gemini Earn Update
https://decrypt.co/115270/gemini-still-working-genesis-digital-currency-group-unlock-user-withdrawals 
42:05 SEC Role
https://twitter.com/mikebelshe/status/1594368875482607617 
45:45 Grayscale Revenue
https://twitter.com/fintechfrank/status/1595205526127771648 
49:20 FTX Update
SBF Letter - https://twitter.com/lizrhoffman/status/1595183732989779970 
Contagion - https://research-assets.cbinsights.com/2022/11/17113850/FTX-Infographic-1117_2022-1.png 
54:00 FTX Hacker
On The Move - https://www.coindesk.com/tech/2022/11/20/ftx-exploiter-converts-millions-in-ether-to-alameda-linked-ren-bitcoin-tokens/ 
RenBTC - https://twitter.com/lawmaster/status/1594730133591662598 
58:40 SEC Scrutiny
https://www.theblock.co/post/189351/sec-facing-rising-scrutiny-after-ftxs-epic-implosion 
1:00:00 Mango Attack
Statement - https://twitter.com/avi_eisen/status/1581326197241180160 
Returned - https://twitter.com/mangomarkets/status/1581351549644591104 
Aave - https://twitter.com/AaveAave/status/1595168980993556480 
Curve Stable - https://twitter.com/0xAlunara/status/1595056270683377664 
Gauntlet - https://twitter.com/gauntletnetwork/status/1595174743891709953 
1:09:30 Staking Withdrawals
https://twitter.com/vdWijden/status/1595386746786779137 
1:10:45 Flashbots
Open Source - https://twitter.com/bertcmiller/status/1593668480951373827 
Censorship - https://twitter.com/VitalikButerin/status/1595198944623165448 
1:13:15 Polygon x Magic Eden
https://twitter.com/0xpolygon/status/1595056828538564609 
1:13:40 rETH in Maker
https://twitter.com/MakerDAO/status/1594700128920682503 
1:14:10 Arbitrum Decentralization
https://twitter.com/bkiepuszewski/status/1594754717330309120 
1:15:15 Bankless Collectible
https://twitter.com/BanklessHQ/status/1595104542428839936 
1:16:55 Alexey Prison
https://www.theblock.co/post/189086/tornado-cash-developer-alexey-pertsev-to-b

Is Genesis the next domino to fall in the 2022 Contagion? As one of the biggest lending desks in the industry, what does it mean for Genesis to be in danger?
In this episode, we dive into David's conspiracy theories about unravelling ponzi schemes and the death of the bull market. Has David figured it all out?
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Infura | Join the New Decentralized Infrastructure Network
www.bankless.cc/infura 
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 SUBSCRIBE TO NEWSLETTER:          https://newsletter.banklesshq.com/?utm_source=banklessshowsyt 
️ SUBSCRIBE TO PODCAST:                 http://podcast.banklesshq.com/ 
------
BANKLESS SPONSOR TOOLS: 
️ ⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum 
👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso 
🦁 BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave 
📡 TRUEFI | CRYPTO FINANCIAL HUB 
https://bankless.cc/TrueFi
👾 SEQUENCE | ALL-IN-ONE PLATFORM 
https://bankless.cc/Sequence 
⚡️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel 
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0:00 Intro
4:30 Barry Silbert in 2021
7:00 The Pyramid
11:30 Who Made the Money?
16:15 The Yield Game
23:00 The Players
27:00 Arbitrage
35:45 Deploying
41:00 The Macro Picture
45:00 Terra Luna Crater
48:30 The Blow-off Top
54:00 The GBTC ETF
58:00 3AC Liquidated
1:02:00 Saviors FTX and Genesis
1:05:30 FTX Threatened
1:09:50 Greyscale vs SEC
1:13:00 SBF Crumbles
1:20:00 SEC's Role
1:25:20 The Genesis Domino
1:32:00 Is this it?
1:36:00 2021 Was a Scam
1:40:00 Hitting the Reset Button
1:44:00 Comparing Bear Markets
1:47:00 Looking Forward
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Resources:
Barry Silbert Tweet
https://twitter.com/BarrySilbert/status/1408191462324441092 
Bull Market Pyramid
https://docs.google.com/drawings/d/1BoRcwjJx3yp1UG9G2eFMNEzKDG4ufThLI1_JR1wk2y4/edit?usp=sharing 
Who Made the Money?
https://twitter.com/TrustlessState/status/1590483734650056706 
https://twitter.com/bmcmillan888/status/1590516943211368449 
GBTC
https://www.sec.gov/Archives/edgar/data/1588489/000110465921000026/tm2039668d1_sc13ga.htm 
https://miro.medium.com/max/4800/1*Axga-kkSolJ1eG0VfdRE_A.webp 
Investing into AVAX
https://www.theblock.co/post/117895/polychain-three-arrows-capital-lead-230-million-avalanche 
Solunavax
https://twitter.com/zhusu/status/1471807725742931969 
Inflation
https://www.cnbc.com/2022/02/10/january-2022-cpi-inflation-rises-7point5percent-over-the-past-year-even-more-than-expected.html 
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures 

✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-leonard 
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How is money created? Why? Whose job is it? We often discuss the Federal Reserve, and in this episode, we’re doing a deep dive into what the Fed is—its origins, its purpose, and ultimately, its concerning behavior.
What do we do about this institution? Something has to change, but what is the path forward?
Joining us to answer these questions is Christopher Leonard, investigative journalist and author of The Lords of Easy Money.  
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📣 Infura | Join the New Decentralized Infrastructure Network
www.bankless.cc/infura 
------
🚀 SUBSCRIBE TO NEWSLETTER:          https://newsletter.banklesshq.com/?utm_source=banklessshowsyt 
🎙️ SUBSCRIBE TO PODCAST:                 http://podcast.banklesshq.com/ 
------
BANKLESS SPONSOR TOOLS: 
⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum 
👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso 
🦁 BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave 
📡 TRUEFI | CRYPTO FINANCIAL HUB 
https://bankless.cc/TrueFi 
👾 SEQUENCE | ALL-IN-ONE PLATFORM 
https://bankless.cc/Sequence 
⚡️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel 
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Timestamps:
0:00 Intro
5:30 Should We Be Worried?
8:35 This is Insane
15:30 Origins of the Fed
23:50 A Young Fed
30:40 From Gold to Fiat
35:50 A Tool of the State
43:25 Incentives and Structure
47:25 Against Ben Bernanke
55:20 Institutional Pressure
59:30 Jay Powell
1:05:20 Banking Pressure
1:12:30 Political Actors
1:16:30 The Terminal Point
1:20:40 What Comes Next?
1:24:00 What to do about the Fed
1:29:15 The Legacy of the Fed
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Resources:
Christopher Leonard
https://twitter.com/CLeonardNews?s=20&t=2hDVEsJqii7nFVkuwxDPvQ 
The Lords of Easy Money
http://www.christopherleonard.biz/ 
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures 

In this episode, David is joined by John Light of Sovryn and Eric Wall, who moonlights David on the Bitcoin technical details throughout the interview.
The three go over the bull case for ZK-Rollups on Bitcoin. It’s undoubtedly the frontier.
------
📣 Infura | Join the New Decentralized Infrastructure Network Early Access Program
www.bankless.cc/infura 
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🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/?utm_source=banklessshowsyt 
🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 
------
BANKLESS SPONSOR TOOLS:
⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum 
👯 DESO | DECENTRALIZED SOCIAL BLOCKCHAIN
https://bankless.cc/Deso 
🦁 BRAVE | THE BROWSER NATIVE WALLET
https://bankless.cc/Brave 
📡 TRUEFI | CRYPTO FINANCIAL HUB
https://bankless.cc/TrueFi 
👾 SEQUENCE | ALL-IN-ONE PLATFORM
https://bankless.cc/Sequence 
⚡️FUEL | THE MODULAR EXECUTION LAYER
https://bankless.cc/fuel 
-----
Topics Covered
0:00 Intro
5:10 John’s Background
8:24 How zkBTC Works?
11:00 Eric’s Interest
15:43 A Better Lightning Network?
21:33 Rollups on ETH vs. Lightning Network
25:50 Rollup Potential
29:24 Optimism
32:15 Expressivity
43:53 Limitless Bitcoin Applications
46:29 Layer 3 Protocols
50:25 What Needs to Happen
52:05 Forks & Flippening Effects
58:00 Proof Systems & Recursive Covenants
1:09:40 Next Steps
1:12:00 Research
1:14:12 Eric’s Thoughts on Bitcoin
1:16:50 Closing & Disclaimers
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Resources:
John Light
https://twitter.com/lightcoin 
Eric Wall
https://twitter.com/ercwl 
Validity Rollups on Bitcoin
https://bitcoinrollups.org/ 
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures