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    When Will We Go Parabolic This Cycle? | RSA+DH

    enJune 05, 2024

    Podcast Summary

    • Impact of Ether ETF and China's gold buyingThe Ether ETF and China's gold buying are significant topics of debate in the crypto market, with potential implications for risk assets and Bitcoin. The ETF's approval could bring more institutional investment, while China's gold buying may impact the demand for Bitcoin as a store of value.

      We're currently in a flat crypto market, and people are debating whether we've already experienced the premature start of the bull market or if it's yet to come. The conversation also revolves around the potential impact of the Ether ETF and the definition of the "banana zone." Raoul Pal coined this term, referring to markets going bananas, but it's unclear what exactly it means in this context. Additionally, China's gold buying and its potential influence on risk assets and Bitcoin are topics of discussion. A shout-out goes to Grid Plus and their Lattice 1 hardware wallet, offering increased security for crypto veterans. Overall, this bull market may feel less exciting due to the lack of self-perpetuating activities compared to previous cycles. Instead, the focus has been on institutional finance and government policies, making it a more buttoned-up and less degen-driven market for some.

    • Retail investors and consumer appsThe next crypto bull run is expected to be driven by retail investors and consumer apps, as the market is still in its early stages and the real bull market is yet to come.

      The crypto market is still in its early stages, and the next bull run might be driven by consumer apps and retail investors. Ignis believes that the current market activity, such as Solana's 10x rise and the Bitcoin ETF, might have been idiosyncratic events that don't fit the typical pattern of a bull market. Base Carbon also agrees that we are in the early stages and the real bull market is yet to come. Vance Spencer shares a similar view, stating that the bull run starts when the first rate cuts happen and we have not even begun to use the ammo for a bull market. The market has seen sideways price action for the past few months, and some price targets are coming from TradFi rather than crypto natives. Chamath, a notable investor, has given Bitcoin price targets of $250,000 on the low end and up to $1,000,000 at the high end. The market is still trying to figure out the impact of political favorability towards crypto and the Ethereum ETF on Bitcoin's price. In summary, the consensus is that the crypto market is still in its infancy, and the next bull run will likely be driven by retail investors and consumer apps. The current market activity might be idiosyncratic events, and the real bull market is yet to come.

    • Bitcoin Halving and Price AppreciationHistorically, Bitcoin's price has significantly appreciated after each halving event, suggesting potential replacement of gold as a store of value and transactional utility for hard assets, especially for non-US countries. Institutional acceptance, potential shift in currency roles, and influential figures can contribute to further price growth.

      The historical pattern of Bitcoin price appreciation after each halving event suggests significant price growth in the years following. For instance, after the first halving, Bitcoin's price returned 45x, after the second, almost 28x, and after the third, almost 8x. This trend could indicate that Bitcoin may replace gold as a store of value and transactional utility for hard assets, especially for non-US countries. Additionally, the increasing institutional acceptance of Bitcoin and the potential shift towards viewing fiat currencies as payment currencies and digital assets as store of value could further fuel this price appreciation. The influence of influential figures and podcasts in the tech and investment space can also contribute to creating this outcome. Furthermore, the trend of countries like China reducing their holdings of US treasuries and increasing their gold reserves signals a potential reversion back to gold as a world reserve currency, which could benefit Bitcoin as a larger leap from dollars to Bitcoin on a balance sheet compared to gold.

    • De-dollarization and Gold ReservesCountries like China are reducing their dependence on US debt and increasing their gold reserves, which could lead to a reduction in US bonds held by China and an increase in their gold reserves, potentially paving the way for wider crypto adoption. Understanding the concept of the 'banana zone' in Bitcoin's price cycles is crucial for investors in this exponential growth phase.

      We're witnessing a significant shift in global financial dynamics, with countries like China reducing their dependence on US debt and increasing their gold reserves. This trend, as noted by Balaji, could lead to a reduction in US bonds held by China and an increase in their gold reserves, which is a step towards de-dollarization. This de-dollarization process could potentially pave the way for wider crypto adoption. The concept of the "banana zone" refers to the exponential growth phase in financial assets, such as Bitcoin, where previous price levels appear insignificant when compared to future growth. With Bitcoin's price cycles becoming less visible on traditional charts due to their exponential nature, understanding the concept of the banana zone is crucial for investors. As we navigate this financial landscape, staying informed and prepared for potential shifts can help investors make informed decisions.

    • Banana ZoneThe crypto market is not yet in the Banana Zone, but the Ethereum ETF could potentially trigger it, with uncertainty surrounding its impact on ETH's price and the extent of demand.

      The crypto market is not yet in the "bananas zone" despite the ongoing bull market. Speakers on the podcast pointed out that previous price charts show a massive leg up that the current bull market does not have. They believe that global liquidity, which typically increases every 4 years leading to market madness, is not yet at peak levels. The market is currently in the early phases of springtime, not yet reaching the summertime or the banana zone. The Ethereum ETF could potentially be a catalyst for a banana zone moment, but the extent of demand and its impact on ETH's price remains uncertain. Some skeptics argue that the Ethereum ETF lacks staking, which real investors may prefer. Overall, the speakers emphasized that being off sides in this market could be a costly mistake given the potential for significant price increases when the banana zone arrives.

    • ETH ETFs vs Celeb CoinsETH ETFs may not require staking for appeal to TradFi investors, potential inflows could lead to price increases up to $6,700, while celeb coins could attract retail investors and potentially catalyze wider retail adoption

      The lack of staking in Ethereum ETFs may not significantly impact their appeal to TradFi investors. The investor base for ETH ETFs might not even be aware of staking, and they may be more focused on gaining exposure to Ethereum rather than its staking yields. Additionally, the potential inflows into Ethereum ETFs could lead to significant price increases, with estimates suggesting prices of $4,400 in the bear case and $6,700 in the bull case. Celeb coins, like Iggy Azalea's mother token, could potentially attract retail investors to crypto as well. While it's still early to tell, the success of these coins could serve as a catalyst for wider retail adoption. Overall, the Ethereum ETFs and celeb coins represent different opportunities for investors and could contribute to the ongoing bull market in crypto.

    • Celebrity-backed crypto projectsCelebrity engagement and authenticity play a crucial role in the success of crypto projects, but sustainability depends on the utility of the token beyond speculation

      The success of a celebrity-backed cryptocurrency project, such as Iggy Azalea's meme coin, depends heavily on the level of engagement and authenticity the celebrity brings to the project. While some celebrities may approach their token launch with a distant and cringe attitude, like Caitlyn Jenner, others, like Iggy Azalea, immerse themselves in the crypto community and actively contribute to the project's growth. This engagement can lead to a vibrant and far-reaching community, which in turn can drive interest and adoption of the token. However, the sustainability of such projects is still uncertain and depends on the incentives for the celebrity and the utility of the token beyond speculation. The meme coin craze on the Solana network, and the proliferation of celebrity coins, can be seen as an indicator of the maturity and democratization of the crypto industry, but also comes with great responsibility. Ultimately, the success of these projects will depend on the balance between speculation and adoption, and the ability of the celebrity and team behind the project to deliver on the promise of utility and value creation.

    • Crypto Bull MarketWe're in the pre-banana zone of the crypto bull market, focusing on preparation and patience for potential gains. Mantle layer 2, Casa, Celo are opportunities to consider.

      We're currently in the pre-banana zone of the crypto bull market, and it's not the time to be off the market but rather to be patient and prepare for potential gains. The banana zone refers to a small, acute period of time where significant gains are made. While there are various factors contributing to the current bull market, such as meme coins, global liquidity, and China's gold purchases, the internal catalyst for widespread adoption and transaction demand on the blockchain has yet to emerge. The Mantle layer 2 is experiencing growth due to high yields, helpful team support, and user ownership opportunities. It's crucial for individuals to take self-custody of their crypto assets, and Casa provides a solution for secure storage and inheritance. Celo, a mobile-first and EVM-compatible blockchain, is designed for real-world use cases and driving fast, low-cost payments globally. Overall, the crypto market is heading west, and it's essential to be prepared for potential gains while understanding the risks.

    • Celo's expansion and partnershipsCelo, a fast-growing blockchain, has over 375 million transactions, 1 million monthly active users, and major exchange partnerships for native USDT and USDC. It plans to join Ethereum as a L2 solution, aiming to lower gas fees and enable ERC-20 token payments.

      Celo, a fast-growing blockchain network, has experienced significant growth with over 375 million transactions and 1 million monthly active users. Notable developments include the deployment of native USDT and USDC on Celo, backed by major exchanges like Binance. Celo is now planning to join Ethereum as a layer 2 solution using Optimism's OP stack, aiming to become the largest L2 platform. This transition could result in lower gas fees and the ability to pay for gas using ERC-20 tokens, including USDC and USDT. Moreover, Celo is a community-governed protocol, and users are encouraged to participate in shaping its future through the Celo forum. Stay updated on Celo's progress by following them on Twitter and exploring their ecosystem designed for the real world on celo.org/quest.

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    Ethereum vs. Solana. That’s the debate we’re having today.


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    TIMESTAMPS

     

    0:00 Intro

    7:16 The Good

    22:30 The Bad

    52:03 Global Shared State

    1:06:07 Economic Security

    1:30:08 The Ugly

    1:47:23 The Endgame

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    Bankless Friday Weekly Rollup 
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    TIMESTAMPS & RESOURCES
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    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
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    https://www.coingecko.com/en/coins/caitlyn-jenner 
    https://x.com/Caitlyn_Jenner/status/1795269306693075404 
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    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=Socials&utm_medium=Farcaster&utm_campaign=warpcastclaimables 


    01:14:47 Meme of The Week
    https://x.com/eawosikaa/status/1795659750702719348 


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

    Bankless
    enMay 31, 2024

    In This Economy? How Money & Markets Really Work | Kyla Scanlon

    In This Economy? How Money & Markets Really Work | Kyla Scanlon

    ✨ Mint the episode on Zora ✨
    https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/7?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E 


    ------
    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. 


    ------
    📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 
    https://bankless.cc/spotify-premium 


    ------
    BANKLESS SPONSOR TOOLS:


    🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
    https://k.xyz/bankless-pod-q2    ⁠


    🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
    https://bankless.cc/toku 


    🌐 CARTESI | APPLY FOR A GRANT
    https://bankless.cc/CartesiGovernance 


    🛞MANTLE | MODULAR LAYER 2 NETWORK
    https://bankless.cc/Mantle 


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


    ------
    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


    ------
    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  


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

    Bankless
    enMay 28, 2024

    Stablecoins and National Security | Former CFTC Chair Timothy Massad

    Stablecoins and National Security | Former CFTC Chair Timothy Massad

    ✨ Mint the episode on Zora ✨

    https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/6 

     

    ------

    🎬 DEBRIEF | Ryan & David unpacking the episode:

    https://www.bankless.com/debrief-the-timothy-massad-interview 

     

    ------

    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.

     

    ------

    📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24

    https://bankless.cc/spotify-premium 

     

    ------

    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 

     

    ------

    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

     

    ------

    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 

     

    ------

    Not financial or tax advice. See our investment disclosures here:

    https://www.bankless.com/disclosures⁠  

    Bankless
    enMay 27, 2024

    Why the Ethereum ETF is Bullish $ETH | Matt Hougan of Bitwise

    Why the Ethereum ETF is Bullish $ETH | Matt Hougan of Bitwise

    ✨ Mint the episode on Zora ✨
    https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/5 
    ------

    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.

    ------
    📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 
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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 

    🛞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 

    ------
    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

    ------
    RESOURCES
    Matt on X: https://x.com/Matt_Hougan 

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

    Bankless
    enMay 24, 2024

    ROLLUP: ETH ETF Approved | Crypto Politics | Uniswap Wells Notice | Airdrop Reset?

    ROLLUP: ETH ETF Approved | Crypto Politics | Uniswap Wells Notice | Airdrop Reset?

    ✨ Mint the episode on Zora ✨
    https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/4


    ------
    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 

    ------
    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/status/1792694910904136028 

    56:46 We finally found out what was the Uniswap Wells notice about 
    https://x.com/Togbe0x/status/1792973545762595199 
    https://x.com/haydenzadams/status/1792973692223336615 
    https://www.coingecko.com/en/coins/uniswap 
    https://x.com/TrustlessState/status/1793650716080562382 

    1:01:28 Binance executive denied bail in Nigeria amid $35 million money laundering trial 
    https://thenationonlineng.net/just-in-court-rejects-binance-officials-bail-request 
    https://x.com/RyanSAdams/status/1791466137793830974 
    Binance CEO Richard Teng in a blog post 
    https://www.binance.com/en/blog/leadership/from-richard-teng-binance-ceo-tigran-gambaryan-is 
    https://x.com/vibhu/status/1792419936725528816?s=46&t=LKBC7Qtm18FnZ380xCF2pA 

    1:04:02 Bankless is launching 'Bankless Onchain' Phase II: Mint Our History
    https://www.bankless.com/bankless-onchain-phase-2
    Mint Bankless Archive here: https://bankless.cc/OnchainArchive 
    Mint new episodes here: https://bankless.cc/onchain  

    1:05:44 Raises and BVC Investments 
    Farcaster has raised $150M! At Valuation $1B
    https://danromero.org/farcaster-update/ 

    1:06:30 MEME of the Week
    https://x.com/basedkarbon/status/1793435193274998945 

    1:07:16 Moment of Zen 
    https://x.com/songadaymann/status/1793751482816176300 

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

    Bankless
    enMay 24, 2024

    ETH ETF Officially Approved! | James Seyffart

    ETH ETF Officially Approved! | James Seyffart

    ✨Mint the episode on Zora✨
    https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/3 

    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 

    ------

    📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24

    https://bankless.cc/spotify-premium 

    ------

    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 

     

    ------

    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:

    https://www.bankless.com/disclosures⁠ 

    Bankless
    enMay 24, 2024