DeepSummary
The episode covers various topics related to the crypto space, including the resurgence of demand for Bitcoin and Ethereum ETFs, the impact of regulatory actions such as Biden's veto of SAB-121, and updates on layer 2 scaling solutions and projects. The hosts discuss the potential price implications of the Ethereum ETF, celebrity meme coin culture wars, and other industry developments.
One notable segment focuses on Robinhood's acquisition of the cryptocurrency exchange Bitstamp, signaling the company's commitment to the crypto market despite facing a lawsuit from the SEC. The hosts also touch on the controversy surrounding celebrity meme coins and Vitalik Buterin's critique of the phenomenon.
Other topics include StarkWare's plans to bring ZK rollups to Bitcoin, the launch of Coinbase's 'Smart Wallet' aimed at onboarding new users, and the potential implications of BlackRock and Citadel launching a new stock exchange in Texas, with speculation around tokenization and Ethereum layer 2 integration.
Key Episodes Takeaways
- The demand for Bitcoin and Ethereum ETFs is resurfacing, potentially driving price appreciation for the respective cryptocurrencies.
- Regulatory actions, such as Biden's veto of SAB-121, have implications for the crypto industry's relationship with policymakers and regulators.
- Layer 2 scaling solutions, like those offered by StarkWare and Coinbase's 'Smart Wallet,' aim to improve user experience and onboard new users.
- The acquisition of Bitstamp by Robinhood signals the company's commitment to the crypto market, despite facing regulatory scrutiny.
- The controversy surrounding celebrity meme coins highlights the ongoing debates within the crypto community about the purpose and impact of certain projects.
- The potential launch of a new stock exchange by BlackRock and Citadel in Texas has sparked speculation about tokenization and Ethereum layer 2 integration.
- Central banks around the world are starting to cut interest rates, potentially signaling a shift in monetary policy that could impact the crypto market.
- Vitalik Buterin's critique of celebrity meme coins reflects concerns about the direction of some projects within the crypto space.
Top Episodes Quotes
- “Exchanges are trading against their customers. Bankruptcies. And leaders in the field are in jail, about to get a jail, or are awaiting extradition.“ by Gary Gensler
- “Coinbase is just acquiring all of those users. Here's Vlad, the CEO of Robinhood, saying, we believe crypto will fundamentally reorganize the financial system and we're acquiring bitstamp to accelerate our vision.“ by Ryan
- “So this is actually kind of like starkware, probably from the perspective of Uri and Ellie kind of coming home to their original purpose, which was to scale bitcoin.“ by David
Entities
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Episode Information
Bankless
Bankless
6/7/24
Bankless Friday Weekly Rollup
1st Week of June 2024
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TIMESTAMPS & RESOURCES
0:00 Intro
3:26 Prices
4:30 L2 Update
https://x.com/jessepollak/status/1798731497173905439
https://x.com/0xKofi/status/1797645289307951127
https://x.com/Uniswap/status/1797624523711561828
https://x.com/RyanSAdams/status/1798460468069085234
10:00 3 more milestone numbers on the wk
https://x.com/TrustlessState/status/1798497346512412898
https://x.com/0xDeFiDevin/status/1797462120713613511
https://twitter.com/sorellalabs
https://www.coingecko.com/en/coins/bnb
17:52 FROTHY STONKS
https://x.com/greg16676935420/status/1798404597897363936
https://companiesmarketcap.com/assets-by-market-cap/
https://www.reddit.com/user/DeepFuckingValue/
https://www.tradingview.com/chart/?symbol=NYSE%3AGME
https://x.com/JasonHitchcock/status/1797437168324899192
26:04 ETFs are back baby! Wen ETH ETF, wen banana zone for ETH?
https://x.com/CarpeNoctom/status/1798170536146825630
https://x.com/ericbalchunas/status/1798156058487382232
https://x.com/bitcoinmagazine/status/1796120216780333409
https://x.com/EricBalchunas/status/1797644643712262482
https://finance.yahoo.com/news/blackrock-says-10m-seed-money-174942096.html
https://x.com/ericbalchunas/status/1796606348324634798
https://x.com/EricBalchunas/status/1797589909768949827
https://x.com/EleanorTerrett/status/1798351844248576311
https://x.com/AlexanderGrieve/status/1798352191713157308
https://x.com/RyanSAdams/status/1796543517671424065
https://x.com/tradetheflow_/status/1797520578087465295/photo/2
https://x.com/vaneck_us/status/1798428976068657411
https://x.com/vaneck_us/status/1798432653726658619
43:55 President Biden missed the layup - vetoed SAB-121
https://www.whitehouse.gov/briefing-room/presidential-actions/2024/05/31/a-message-to-the-house-of-representatives-on-the-presidents-veto-of-h-j-res-109/
https://www.aba.com/advocacy/policy-analysis/letter-to-president-biden-sab-121
https://x.com/faryarshirzad/status/1796837972978872764
https://x.com/nic__carter/status/1796687373314445766
https://x.com/standwithcrypto/status/1798433256339079417
https://x.com/fejau_inc/status/1796310685330051121
https://www.coindesk.com/markets/2024/05/30/trump-token-sinks-after-former-us-president-is-found-guilty-in-new-york/
52:50 Robinhood Acquires Bitstamp
https://x.com/RobinhoodApp/status/1798672303519342898
https://twitter.com/vladtenev/status/1798680590344126963
55:05 Celebcoin Culture Wars
https://www.coingecko.com/en/coins/mother-iggy
https://x.com/VitalikButerin/status/1798290424622113230
https://x.com/IGGYAZALEA/status/1798471807647068297
https://x.com/haydenzadams/status/1798551176834638114
59:32 ETH
Coinbase’s smart wallets is now officially launched! Is this how we get to billions?
https://www.coinbase.com/blog/a-new-era-in-crypto-wallets-smart-wallet-is-here
https://x.com/jessepollak/status/1797772737207062752
1:02:31 StarkWare plans to bring ZK scaling to Bitcoin alongside Ethereum
https://x.com/StarkWareLtd/status/1797985467666940265
https://bankless.cc/PermissionlessDiscount
1:05:31 Punks below 30 ETH
https://x.com/punksOTC/status/1798093880711155918
1:06:26 Blackrock and Citadel wants to launch new rival Stock Exchange in Texas
https://www.reuters.com/markets/us/blackrock-citadel-backed-group-start-new-national-stock-exchange-texas-wsj-2024-06-05/
https://x.com/delzennejc/status/1798399433651974301
1:10:21 Raises and BVC Investments
Mountain raised $8M in Series A
https://x.com/MountainUSDM/status/1798740495679815731
1:11:35 MEME of the Week
https://x.com/TrustlessState/status/1798124339843449065
1:12:19 Closing & Disclaimers
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