Bankless

In this week's State of the Nation, we bring on Jeff Dorman, Chief Investment Officer and Arca, to measure the magnitude of $COIN on the public markets.

State of the Nation is live-streamed on Tuesdays at 11am PST.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/kwenta 

------ 📣 DHARMA | From Dollars to DeFi in a Tap! https://bankless.cc/dharma  ------

State of the Nation #43: Coinbase Goes Direct Guest: Jeff Dorman

Jeff Dorman is Chief Investment Officer at Arca, the digital asset management firm. Jeff leads the investment committee, focusing on risk management for cryptoassets. His work history in both legacy and crypto finance puts him in a unique position to work as a bridge between the two worlds.

The Coinbase Direct Listing also acts as a bridge between the two worlds, and it's undoubtedly a landmark event for the legitimization of the crypto industry. What does this mean for the Banks, Fintech, and Wall Street? What does it mean for Gemini, Uniswap, and Binance?

The first item to discuss to answer these questions is how the media and crypto twitter alike were off in their interpretation of this event. The volatile price action in the first moments of the listing were surprising to many, but Jeff explains that this shouldn't be surprising at all, given that there are no underwriters or built-in stability in a direct listing like $COIN's. He expects that there will be volatility and price discovery over a longer stretch of time before the stock moves to a more stable valuation.

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Resources:

Jeff's Article on Coinbase: https://www.ar.ca/blog/crypto-market-recap-02-28-21 

Arca: https://www.ar.ca/ 

Jeff on Twitter: https://twitter.com/jdorman81?s=20 

$COIN Price https://www.tradingview.com/chart/?symbol=NASDAQ%3ACOIN 

Coinbase S1 Filings: https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm 

Coinbase Analytics: https://www.theblockcrypto.com/data/crypto-markets/public-companies 

------ This Week on Bankless:

📛 Bankless Badge Week (4/20): https://newsletter.banklesshq.com/p/how-to-win-free-stuff-with-your-bankless  📈 Market Monday (4/19): https://newsletter.banklesshq.com/p/6-tips-to-succeed-in-this-bull-market  📖 Before Bitcoin (4/19): https://shows.banklesshq.com/p/-before-bitcoin-pet3rpan  🧢 Weekly Action Recap (4/17): https://newsletter.banklesshq.com/p/price-discovery-mode-weekly-recap  🗞️ Weekly Rollup (4/16): https://shows.banklesshq.com/p/-rollup-btc-and-eth-ath-coin-berlin 

----- 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://newsletter.banklesshq.com/p/bankless-disclosures 

In this week's State of the Nation, we bring on Jeff Dorman, Chief Investment Officer and Arca, to measure the magnitude of $COIN on the public markets.

State of the Nation is live-streamed on Tuesdays at 11am PST.

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Peter Pan has been a key member of the Ethereum Ecosystem, and in 2018, he wrote a 4-part series titled "Before Bitcoin," which covers the modern history of cryptography.

We first bring him onto the podcast for an interview, followed by a reading of the full series by David.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer 

------ 📣 DHARMA | From Dollars to DeFi in a Tap! https://bankless.cc/dharma  ------

Bankless Podcast #61 - Before Bitcoin Guest: Pet3rPan

Pet3rPan is a community-first investor at 1kx and part of the leadership of both MetaCartel Ventures and VentureDAO. His involvement in the crypto space is broad and deep, exemplified by his authoring of the Before Bitcoin series that we dive into in this episode.

He was compelled to write the piece as he entered the crypto space, determined to build a depth of knowledge about the history and underlying technology of distributed ledgers powered by public-key cryptography. Modern cryptography doesn't exist in a vacuum, and there is a vast historical landscape to explore and provide context for the underlying principles that power the internet today and drive the innovation of the internet tomorrow.

The story of today's cryptocurrency did not begin with Satoshi's Bitcoin whitepaper in 2009. It began decades earlier in the 1970s as cryptography was revolutionized by Cypherpunks, who discovered new mechanisms for the secure transfer of information. They pursued these ends through their shared values of privacy, self-sovereignty, freedom of information, etc.

This episode begins with a brief interview with Pet3rPan, followed by a 'David Reads' of all four Before Bitcoin articles.

------ Resources:

pet3rpan on Twitter: https://twitter.com/pet3rpan_?s=20 

Before Bitcoin Part 1: https://pet3rpan.medium.com/history-of-things-before-bitcoin-cryptocurrency-part-one-e199f02ca380 

Before Bitcoin Part 2: https://pet3rpan.medium.com/history-of-things-before-bitcoin-cryptocurrency-part-two-94c4576005  

Before Bitcoin Part 3: https://pet3rpan.medium.com/before-bitcoin-pt-3-90s-cryptowars-e857915fab82 

Before Bitcoin Part 4: https://pet3rpan.medium.com/before-bitcoin-pt-4-00s-new-millenium-426d6e3dcb1a 

The Digital Culture Revolution: https://newsletter.banklesshq.com/p/the-digital-culture-revolution 

------ This Week on Bankless:

🧢 Weekly Action Recap (4/17): https://newsletter.banklesshq.com/p/price-discovery-mode-weekly-recap  🗞️ Weekly Rollup (4/16): https://shows.banklesshq.com/p/-rollup-btc-and-eth-ath-coin-berlin  🏴 Cryptex & Element (4/13): https://shows.banklesshq.com/p/sotn-42-ethereum-devs-building-defi  ⚒️ How to Use dYdX (4/13): https://newsletter.banklesshq.com/p/how-to-trade-on-the-dydx-rollup 

----- 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://newsletter.banklesshq.com/p/bankless-disclosures 

Peter Pan has been a key member of the Ethereum Ecosystem, and in 2018, he wrote a 4-part series titled "Before Bitcoin," which covers the modern history of cryptography.

We first bring him onto the podcast for an interview, followed by a reading of the full series by David.

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Download the crypto meta to your brain in this weekly show.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  

------ 📣 DHARMA | From Dollars to DeFi in a Tap! https://bankless.cc/dharma  ------ Topics Covered:

Compound TVL https://twitter.com/defipulse/status/1380889501283799042  $COIN Price https://www.tradingview.com/symbols/NASDAQ-COIN/  Who’s Buying COIN? https://www.theblockcrypto.com/linked/101760/cathie-wood-ark-246-million-coinbase-stocks 

RELEASES Maker / AAVE Proposal https://forum.makerdao.com/t/discussion-direct-deposit-dai-module-d3m/7357  Gas Fees Down? https://twitter.com/0xEther/status/1381513763661176834?s=20  Binance Tokenized Stonks https://www.theblockcrypto.com/post/101335/binance-launches-tokenized-stock-trading-tesla  Raid Guild Smart Invoice https://medium.com/raid-guild/introducing-smart-invoice-211776245a0b 

NEWS Coinbase Public Listing https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm  Coinbase Giving Shares to Employees https://twitter.com/CoinDesk/status/1382163782315704322?s=20  Ethereum Berlin https://blog.ethereum.org/2021/03/08/ethereum-berlin-upgrade-announcement/  JPM & Mastercard invest in Consensys https://www.coindesk.com/ethereum-hub-consensys-raises-65m-from-big-banks-and-blockchain-builders  Gitcoin Raise https://twitter.com/gitcoin/status/1382411085161099265  dYdX L2 Volume https://imgur.com/a/nFdygKj  MakerDAO Real World Assets https://twitter.com/nomos_paradox/status/1381684052969721856?s=20  Epic Games Raises $1B for NFTs https://venturebeat.com/2021/04/13/epic-games-raises-1-billlion-to-fund-long-term-metaverse-plans/amp/  41:20 Immutable Integrations https://twitter.com/Immutable/status/1382548807083204610  Regulation https://www.theblockcrypto.com/linked/101595/us-senate-confirms-gary-gensler-as-joe-bidens-sec-commissioner  https://www.theblockcrypto.com/linked/101553/sec-peirce-token-safe-harbor-update  HSBC Bans Crypto https://twitter.com/cameron/status/1380526047188369409?s=21 

TAKES WSB Allows Crypto https://twitter.com/cyounessi1/status/1382519260392591361  Hard to Use ETH? https://twitter.com/RyanSAdams/status/1381618315513200643?s=20  NYSE vs. Uniswap https://twitter.com/haydenzadams/status/1381677367358283783  “Thereum” https://twitter.com/ryansadams/status/1382701166757347350?s=21  How Long Bull Market? https://twitter.com/ryansadams/status/1382503698442678273?s=21  ETH Killers vs. Infrastructure https://twitter.com/JimmyRagosa/status/1381613502276775946?s=20  Vitalik on Maximalism https://twitter.com/BanklessHQ/status/1381468493317505028?s=20 

------ This Week on Bankless:

🏴 SotN w/ Cryptex & Element (4/13: https://shows.banklesshq.com/p/sotn-42-ethereum-devs-building-defi  ⚒️ How to Use dYdX (4/13): https://newsletter.banklesshq.com/p/how-to-trade-on-the-dydx-rollup  📈 Market Monday (4/12): https://newsletter.banklesshq.com/p/coinbase-week-market-monday  🎙️Podcast w/ Hester Peirce (4/12): https://shows.banklesshq.com/p/-the-sec-and-defi-hester-peirce 

----- 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://newsletter.banklesshq.com/p/bankless-disclosures 

Download the crypto meta to your brain in this weekly show.

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Stefan Ionescu is a Founder of Reflexer Labs, the team behind the RAI stablecoin (or is it fair to even call it a stablecoin? Tune in to find out!)

Like all our AMAs, the interview is live and incorporates questions from our Inner Circle Discord and live YouTube Chat. These are hosted the 2nd and 4th Wednesday each month, so mark your calendars, tune in, and ask questions! ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED EXCHANGE http://bankless.cc/uniswap 

🔀 KWENTA | SYNTHETIC ASSET EXCHANGE https://bankless.cc/kwenta 

------ Resources:

Reflexer Labs: https://reflexer.finance/ 

Stefan on Twitter: https://twitter.com/stefan__ionescu?s=20 

------ This Week on Bankless:

🏴 SotN w/ Cryptex & Element (4/13: https://shows.banklesshq.com/p/sotn-42-ethereum-devs-building-defi  ⚒️ How to Use dYdX (4/13): https://newsletter.banklesshq.com/p/how-to-trade-on-the-dydx-rollup  📈 Market Monday (4/12): https://newsletter.banklesshq.com/p/coinbase-week-market-monday  🎙️Podcast w/ Hester Peirce (4/12): https://shows.banklesshq.com/p/-the-sec-and-defi-hester-peirce  🧢 Weekly Action Recap (4/10): https://newsletter.banklesshq.com/p/the-coinbase-tsunami-weekly-recap  🗞️ Weekly Rollup (4/9): https://shows.banklesshq.com/p/-rollup-coinbase-ipo-fei-protocol 

----- 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://newsletter.banklesshq.com/p/bankless-disclosures 

Stefan Ionescu is a Founder of Reflexer Labs, the team behind the RAI stablecoin (or is it fair to even call it a stablecoin? Tune in to find out!)

Like all our AMAs, the interview is live and incorporates questions from our Inner Circle Discord and live YouTube Chat. These are hosted the 2nd and 4th Wednesday each month, so mark your calendars, tune in, and ask questions!
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Both Preston Van Loon of Cryptex and Will Willanueva of Element Finance have helped build the Ethereum Protocol, but are now both working on DeFi apps.

In this State of the Nation, we dive into what it's like for Ethereum Devs building DeFi.

State of the Nations are Livestreamed on Tuesdays at 11am PST. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED EXCHANGE http://bankless.cc/uniswap 

🔀 KWENTA | SYNTHETIC ASSET EXCHANGE https://bankless.cc/kwenta  ------ State of the Nation #42: Ethereum Devs Building DeFi Guests: Preston Van Loon & Will Villanueva

Tremendous work has been (and is still being) done to develop Ethereum 2, and just as much innovation is happening in Ethereum's app layer, DeFi. In this week's State of the Nation, we bring on guys who have done both: Preston Van Loon and Will Villanueva.

Preston Van Loon is a former Google software engineer who switched to crypto full-time after Vitalik put 1000 ETH into Prysmatic Labs, which Preston founded. Prysmatic labs is now the most popular ETH 2 client. Preston is also the co-founder of a brand new DeFi app ‘Cryptex’, which is a collateralized synthetic asset that tracks the total market cap of all crypto-assets.

Will Villanueva is a former team member of the Quilt team at Consensys and contributed to a mountain of R&D on Ethereum sharding. Will is now the CEO of Element, which offers high yield fixed income for DeFi assets. Element works by breaking a single token into two different ones; a yield-bearing token, and a principle token.

We brought both Will and Preston because their unique work histories of first helping build the Ethereum Protocol and now building DeFi apps. We discuss how their experiences have shaped their current projects, the trajectory of Ethereum and its app layer, and the timing of it all.

"The Hardest Problems Draw the Smartest People." - Preston Van Loon

------ Resources:

Cryptex: https://cryptex.finance/ 

Element Finance: https://element.fi/ 

Preston on Twitter: https://twitter.com/preston_vanloon?s=20 

Will on Twitter: https://twitter.com/wjvill?s=20 

------ This Week on Bankless:

⚒️ How to Use dYdX (4/13: https://newsletter.banklesshq.com/p/how-to-trade-on-the-dydx-rollup  📈 Market Monday (4/12): https://newsletter.banklesshq.com/p/coinbase-week-market-monday  🎙️Podcast w/ Hester Peirce (4/12): https://shows.banklesshq.com/p/-the-sec-and-defi-hester-peirce  🧢 Weekly Action Recap (4/10): https://newsletter.banklesshq.com/p/the-coinbase-tsunami-weekly-recap  🗞️ Weekly Rollup (4/9): https://shows.banklesshq.com/p/-rollup-coinbase-ipo-fei-protocol 🏴 dYdX & StarkWare (4/6): https://shows.banklesshq.com/p/sotn-41-scaling-defi-with-dydx-and  ⚒️ How to Crypto Tax (4/6): https://newsletter.banklesshq.com/p/how-to-do-crypto-taxes-for-the-lazy 

----- 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://newsletter.banklesshq.com/p/bankless-disclosures 

Both Preston Van Loon of Cryptex and Will Willanueva of Element Finance have helped build the Ethereum Protocol, but are now both working on DeFi apps.

In this State of the Nation, we dive into what it's like for Ethereum Devs building DeFi.

State of the Nations are Livestreamed on Tuesdays at 11am PST.
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