Bankless

Where were the adults? How did SBF manage to get away with so much (thus far)? We brought on Castle Island's Matt Walsh to explain.

We're pissed. How are you feeling?

Matt gives us a breath of fresh air as he outlines the timeline of the rest of the contagion, how long the healing process will take, what happens next, and how we rebuild this industry we've all come to know and love.

------ Earnifi | Check For Your Unclaimed Airdrops, POAPs, & NFTs https://bankless.cc/earnifi 

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️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

------ Timestamps:

0:00 Intro 4:52 We're Pissed 9:52 Alameda Leveraged Data 13:34 Why Did We Accept This? 15:19 Regulators & Regulation? 21:55 Where Did the Money Come From? 24:42 The Human Destruction 26:35 Who Can You Trust? 30:51 What Will Regulators Do? 35:35 Will the Contagion Continue? 38:42 BlockFi 40:44 What Caused This? 45:10 Ego 47:50 What Should We Do Going Forward? 56:26 Who & Where Are the Adults? 58:33 How Long to Heal? 1:02:05 Is the Worst Behind Us? 1:03:55 Closing & Disclaimers

------ Resources:

Matt Walsh https://twitter.com/MattWalshInBos 

----- 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 

This is the craziest moment we’ve experienced in crypto. So many things to unpack. But the biggest question remains… where do we go from here?

------  Earnifi | Check For Your Unclaimed Airdrops, POAPs, & NFTs https://bankless.cc/earnifi 

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️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

------

Topics Covered: 0:00 Intro 6:30 One Week Later 13:00 Changing Perspective 17:25 Shaking Faith 21:20 Losing Funds 22:25 Sponsorships 27:30 Cronies 30:15 Regulators 34:30 The Content Treadmill 37:30 Richard Heart 39:45 Community Vibes 44:30 Staying Optimistic 50:25 Reflections

----- Resources: Sam’s Weird Twitter Behavior https://twitter.com/SBF_FTX/status/1592275869825134593 

Sam’s Penthouse https://www.99.co/singapore/insider/cryptocurrency-ftx-ceo-sam-bankman-fried-sbf-bahamas-penthouse-sale-usd40m/ 

FTX Corporate Structure https://twitter.com/Leishman/status/1591800851236282368  ----- 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-molly-white 

After many episodes, we finally brought on a crypto skeptic, Molly White! We brought Molly on to take us out of our crypto bubble, to challenge our assumptions, and to steelman the anti-crypto argument.

Molly White is an engineer, public goods contributor, and an extremely articulate crypto critic. She also runs the web3 skeptic website: https://web3isgoinggreat.com/

In today’s episode, Molly gives us her central claim on why web3 isn’t actually going so great, why she thinks tokens make everything worse, and why—despite acknowledging some of the good—Molly believes crypto is a net negative to the world…and probably will be in the near future.

P.S. Keep in mind, this episode was recorded on October 7, 2022 — way before any of the FTX meltdown occurred this past week.

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🔐 LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- Topics Covered

0:00 Intro 7:35 How Great is Web3 Really Going? 8:10 Headline Selection & Website Goals 12:50 Molly is Anti-Crypto 13:36 Crypto’s Promises 15:36 Are We Early? 17:35 Crypto’s Successes 20:23 Crypto’s Biggest Failures 21:50 Banks 26:22 Education Problem 28:10 The Future of Crypto 33:34 What’s Wrong with the Internet? 35:27 The Money Side of Crypto 37:38 Web2 to Web3 42:23 Starry-Eyed Optimism 54:04 Public Goods 1:02:00 Hyperfinancialization 1:05:55 Show Me Fix It 1:08:34 Environmental Impact 1:13:31 Crypto Idealists 1:16:52 Surveillance & Changing Business Models 1:20:40 Wikipedia 1:25:17 Decentralization 1:26:23 Advice For Crypto People 1:27:44 Closing, Resources, & Disclaimers

------ Resources:

Molly White https://twitter.com/molly0xFFF 

web3 is going just great https://twitter.com/web3isgreat 

----- 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 

2nd Week of November

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💠 NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

🔐 LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

------

Timestamps: 0:00 Intro 4:29 BTC Price 5:50 ETH Price 6:10 ETH/BTC 6:33 Total Crypto Market Cap

7:43 ECONOMY 7:50 Inflation drops to 7.7% from 8.2% in September https://twitter.com/WatcherGuru/status/1590698393260609536  8:15 CPI Chart https://www.nytimes.com/live/2022/11/10/business/inflation-cpi-report  10:08 U.S. Election 12:10 Layoff SZN

14:20 UltraSoundMoney - 5000 ETH Burnt https://ultrasound.money/ 

21:58 Surreal week…. https://twitter.com/RyanSAdams/status/1590474030263730176  https://twitter.com/SBF_FTX/status/1590709200665333762  https://unusualwhales.com/news/ftx-faces-liquidity-shortfall-of-up-to-8-billion-sam-bankman-fried-told-investors  https://www.wsj.com/articles/ftx-tapped-into-customer-accounts-to-fund-risky-bets-setting-up-its-downfall-11668093732  https://www.coindesk.com/business/2022/11/09/sam-bankman-fried-no-longer-a-billionaire-after-146b-overnight-wipe-out/  39:30 Tether freezes FTX USDT https://twitter.com/Pentosh1/status/1590711432378621952  40:18 Gensler and the SEC https://twitter.com/colinwilhelm/status/1590694062490734593  41:00 Captain hindsight https://twitter.com/collins_belton/status/1590686389511028737  42:25 Tom Emmer https://twitter.com/RepTomEmmer/status/1590717374801809409  44:25 Brian Armstrong take & ratio’ing sen warren https://twitter.com/brian_armstrong/status/1590511022104010753  45:45 Dogetoshi https://twitter.com/Dogetoshi/status/1590736426068766721  46:20 Larry https://twitter.com/lawmaster/status/1590750976298090496  47:00 Employee chatter https://twitter.com/tackettzane/status/1590541872212357120  52:20 THIS KEEPS HAPPENING https://twitter.com/RichardHeartWin/status/1590689840068448257 

1:04:36 ETH 1:04:40 New Ethereum Roadmap https://twitter.com/VitalikButerin/status/1588669782471368704 

1:06:30 NFTs 1:06:35 OpenSea Royalties https://www.theblock.co/post/183518/opensea-creates-tool-to-help-nft-collections-enforce-royalties-on-chain  1:07:50 Peaster take https://metaversal.banklesshq.com/p/the-future-of-nft-royalties  1:08:05 SuperRare RarePass https://twitter.com/SuperRare/status/1588173906241736704  https://twitter.com/BanklessHQ/status/1589641261685915650 

1:08:50 Regulation 1:11:45 SEC subpoena HEX influencers https://cointelegraph.com/news/sec-issues-subpoena-to-influencers-promoting-hex-pulsechain-and-pulsex  1:13:18 While all this was happening…LBRY ruling takes https://twitter.com/lbrycom/status/1589645453091827712  https://twitter.com/lex_node/status/1589655558029643777  https://twitter.com/lbrycom/status/1589718365924634624 

1:15:45 Misc Polkadot’s Native Token DOT https://twitter.com/Web3foundation/status/1588593793519210497  1:18:00 UK Bank Santander NGMI https://decrypt.co/113702/uk-bank-santander-will-block-payments-to-crypto-exchanges 

1:18:19 Releases Zerion to take on MetaMask https://www.theblock.co/post/183304/zerion-prepares-to-take-on-metamask-with-in-browser-wallet 

1:19:05 Raises WalletConnect - $12.5M https://twitter.com/WalletConnect/status/1588154492465418240 

1:19:20 JOBS https://pallet.xyz/list/bankless/jobs  Be like Tim https://twitter.com/timgarth/status/1588269857920925705 

1:24:34 TAKES Future of Crypto https://twitter.com/HHorsley/status/1590463556902096897  Worst events in crypto history https://twitter.com/thedefiedge/status/1590131252056756226  No one wants to hear it https://twitter.com/TrustlessState/status/1590760792877862913  Thanks Gary https://twitter.com/TrustlessState/status/1590721196957761537 

1:36:44 MEME of the Week https://twitter.com/BanklessHQ/status/1590447780132450306 

1:37:20 Moment of Zen https://twitter.com/netcapgirl/status/1590431481385857024 

After one of the worst weeks in crypto history, Ryan and David join forces with Ledger and Cobie from Up Only to bring the industry some much needed catharsis.

The four chop it up about how big of a deal this really is, how we’re going to move forward as an industry, and general advice to get through this.

Hang in there, anon. We’re in this together.

------ 📣 Earnifi | Check For Your Unclaimed Airdrops, POAPs, & NFTs https://bankless.cc/earnifi 

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💠 NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

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⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- 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 

The craziest 48 hours in crypto history? From the apparent takeover of FTX by Binance to no more takeover to SBF now being probed by U.S. regulators.

As the dust settles, we cover everything that’s unfolded in the last 24 hours and how it’ll reshape crypto moving forward.

If you missed yesterday’s stream where we go over the timeline of how all this happened and got industry leaders Brian Armstrong, Erik Voorhees, & Ryan Selkis to share their thoughts—you can find it here: https://youtu.be/LDtZyMcaaNY 

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NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

------ Timestamps:

0:00 Intro 5:05 The Recap https://twitter.com/wassielawyer/status/1590025892994371584  https://twitter.com/RyanSAdams/status/1590150120250966016  14:37 Our Mood 25:00 The Story Continued https://twitter.com/cz_binance/status/1590351182513729544  29:50 SBF Deleting Tweets https://twitter.com/ledgerstatus/status/1590115753331937281  31:27 Ooof https://twitter.com/ercwl/status/1590165313190260737  https://twitter.com/Snowden/status/1590319361863995394  33:35 SBF Letter to Investors https://twitter.com/WClementeIII/status/1590107340317294593  35:20 UPDATE https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/  https://twitter.com/Blockworks_/status/1590441854960820224  37:35 US Probes FTX https://www.bloomberg.com/news/articles/2022-11-09/us-probes-ftx-empire-over-handling-of-client-funds-and-lending  39:30 https://twitter.com/tier10k/status/1590444221525278721  https://twitter.com/tier10k/status/1590394410151251968  https://twitter.com/depression2019/status/1590383943358218240  43:26 Alameda Website Dead https://twitter.com/WClementeIII/status/1590406041250181120  https://12ft.io/proxy?q=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fbinance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963  44:20 How This Happened? https://twitter.com/LucasNuzzi/status/1590122590206824448  1:02:00 Binance Tweets https://twitter.com/binance/status/1590449161069268992  Onchain flows https://www.coindesk.com/markets/2022/11/09/these-four-key-charts-shed-light-on-the-ftx-exchanges-spectacular-collapse/  https://twitter.com/LucasNuzzi/status/1590122590206824448  1:05:07 Convo Starter https://twitter.com/crypto_condom/status/1590338735606231041 1:08:05 10% of Multicoin on FTX https://twitter.com/TheBlock__/status/1590349978873913350  1:09:39 Galaxy Exposure to Alameda https://www.theblock.co/post/184262/galaxy-digital-reveals-ftx-exposure-in-q3-earnings-report  1:10:00 FTX Investors https://twitter.com/fintechfrank/status/1590145184020328448  1:10:46 Other Chains https://twitter.com/dunleavy89/status/1590056663767449600  1:11:15 FTX.US is Okay https://www.axios.com/2022/11/09/ftx-us-american-subsidiary-impact-liquidity-crunch  1:11:30 Emotions https://twitter.com/0xfoobar/status/1590204552891899907  https://twitter.com/cobie/status/1590188580483497985  https://twitter.com/shaughnessy119/status/1590201528014753792  https://twitter.com/lawmaster/status/1590238771915935744  People Selling their FTX Balances  https://twitter.com/TensaiCapital/status/1590301595237224449  SBF Down Bad ATH https://twitter.com/econoar/status/1590130144815218689  1:20:25 CZ Tweets https://twitter.com/cz_binance/status/1590313459132305408  1:22:00 Solana Unlocks https://twitter.com/thedata_nerd/status/1590307325650182144  1:27:00 Coinbase Gud https://twitter.com/ViktorBunin/status/1590064600178835457  1:27:16 The Meta Question https://twitter.com/BanklessHQ/status/1590341304172838913  1:27:30 What Happened & Closing Thoughts 1:34:05 Risks & Disclaimers 1:34:35 Leaving you with Larry David https://twitter.com/LilMoonLambo/status/1590145235291893760 

----- 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 Part 2, Ryan and David are joined by Brian Armstrong, Erik Voorhees, & Ryan Selkis to discuss what transpired today, how it’ll impact our industry, and what it means moving forward.

In case you missed it, we’ve already released Part 1 where Ryan and David recap everything that happened leading up to today, what’s unfolded thus far, what happens next, and what it means for the crypto space writ large.

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NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- Timestamps:

0:00 Intro 4:04 Ryan Selkis 11:45 Takes & Prices https://twitter.com/brian_armstrong/status/1590088673726717952  https://www.coingecko.com/  https://ultrasound.money/  20:32 Erik Voorhees 42:00 Brian Armstrong 1:00:25 New CZ https://twitter.com/cz_binance/status/1590103159506341888  1:02:45 Ultra Sound Money https://ultrasound.money/  1:04:45 Closing & Disclaimers

-----

Resources:

SBF Announcement https://twitter.com/SBF_FTX/status/1590012124864348160 

CZ Announcement https://twitter.com/cz_binance/status/1590013613586411520 

----- 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 

On Part 1 of this two-part series, Ryan and David recap everything that happened leading up to today, what’s unfolded thus far, what happens next, and what it means for the crypto space writ large.

In Part 2, Ryan and David are joined by Brian Armstrong, Erik Voorhees, & Ryan Selkis.

Part 2 is out now! Check your feed.

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NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- Timestamps:

0:00 Intro 6:40 Key Players 11:33 SBF 12:45 Binance 14:30 Asset Clarifications 16:25 The Timeline https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/  https://twitter.com/DylanLeClair_/status/1587890966580658177  https://analytics.abracadabra.money/cauldrons  https://twitter.com/carolinecapital/status/1589264375042707458  https://twitter.com/cz_binance/status/1589283421704290306  https://twitter.com/cz_binance/status/1589328518609240064  https://twitter.com/carolinecapital/status/1589287457975304193  https://twitter.com/coinmamba/status/1589294435317125120  https://twitter.com/DylanLeClair_/status/1589768406735392768  https://twitter.com/cz_binance/status/1589374530413215744  https://twitter.com/cz_binance/status/1589329217874931712  https://twitter.com/cz_binance/status/1589374530413215744  https://twitter.com/theData_Nerd/status/1589412348476825600  https://twitter.com/SBF_FTX/status/1589598284322328579  https://twitter.com/PRHillmann/status/1589653449792421889  https://newsletter.banklesshq.com/p/battle-of-the-billionaires  https://imgur.com/uWeYrLv  https://twitter.com/TheBlock__/status/1589979338979434497  https://twitter.com/Dogetoshi/status/1589980754964271104  https://twitter.com/Dogetoshi/status/1589983115430473730  https://twitter.com/tier10k/status/1589983701730922496  https://twitter.com/Dogetoshi/status/1589986908272472064  https://twitter.com/sbf_ftx/status/1590012124864348160  https://twitter.com/yuno0Zy/status/1590013905686106113  https://www.semafor.com/article/11/08/2022/before-deal-with-rival-ftx-scoured-wall-street-silicon-valley-billionaires-for-1-billion-lifeline  https://twitter.com/VentureCoinist/status/1590033055246618624  https://twitter.com/VentureCoinist/status/1590044831665258496  https://www.tradingview.com/chart/pabiN1CM/  https://twitter.com/zhusu/status/1590022114882768897  https://twitter.com/stablekwon/status/1590017837758033926  https://twitter.com/santisiri/status/1590031964408786944  https://twitter.com/AlamedaTrabucco/status/1590032437501124609  https://twitter.com/ThetaMentality/status/1590016374608654336  https://twitter.com/_jamiis/status/1590032682272010241  https://twitter.com/DylanLeClair_/status/1590013774735740930  https://twitter.com/CanteringClark/status/1590016032139513857  https://twitter.com/WClementeIII/status/1590018245758963712  https://twitter.com/0xngmi/status/1590026606814572544  https://twitter.com/cz_binance/status/1590055819416330240  https://twitter.com/DylanLeClair_/status/1590027464054837248 

----- 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 

David brings on his old co-host, Christian Keroles of POV Crypto. Long-time Bankless listeners know of POV Crypto, but if you’re unaware, it’s the podcast that David started with Christian before Bankless!

Christian is currently the General Manager of BTC Inc (Bitcoin Magazine & The Bitcoin Conference).

On this episode, David and Christian go back to their POV Crypto roots and debate many different sub-topics of the overall Ethereum vs. Bitcoin debate.

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⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum 

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🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave 

💠 NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

🔐 LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- Topics Covered

0:00 Intro 5:03 Who is Christian Keroles? 5:58 POV Crypto Pod 9:52 The BTC vs. ETH Community 11:07 Metrics of the Winner 14:20 Ideological Backgrounds 18:00 The 2020-2021 Bull Market 20:44 Cantillon Effect 22:55 ETH to $0 24:40 Ethereum Won the 2020-2021 Bull Market? 30:34 Is Bitcoin the Underdog? 32:00 Tornado Cash 33:47 Ethereum is Inside the Bitcoin Ecosystem 36:46 How Bitcoin is Changing the World? 39:15 Bitcoin & Energy 46:19 Distribution & Decentralization 48:44 Energy System Integration 54:47 Does Bitcoin Work If It Isn’t #1 55:39 HyperBitcoinization 56:25 Paradigm Shifts 1:02:20 Recreating the Financial System 1:04:57 Core Philosophical Differences 1:07:17 Disrupting Incumbents 1:08:26 Acceleration

------ Resources:

POV Crypto Pod https://twitter.com/povcryptopod 

Christian Keroles https://twitter.com/ck_SNARKs 

----- 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-unichain-is-inevitable 

Dan Elitzer is the co-founder of Nascent, a VC firm working on the frontier of crypto Previously, he was previously leading IDEO CoLab Ventures, and has been on the frontier of crypto innovations for as long as we can remember.

Dan helps us unpack The AppChain Thesis, a possible outcome where every big DeFi app is going to have its own chain. How will this reshape crypto? Where do we find opportunities? Does this thesis even make sense?

Further, Dan, Ryan, and David cover the case for why Uniswap is going to have its own chain, why Dan thinks there’s an inevitable economic incentive for large DeFi apps to start their own chains, the main objections to The AppChain Thesis, and so much more.

------ 📣 Earnifi | Check For Your Unclaimed Airdrops, POAPs, & NFTs https://bankless.cc/earnifi 

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 

------ BANKLESS SPONSOR TOOLS:

⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum 

❎ ACROSS | BRIDGE TO LAYER 2 https://bankless.cc/Across 

🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave 

💠 NEXO | CRYPTO FINANCIAL HUB https://bankless.cc/Nexo 

🔐 LEDGER | NANO HARDWARE WALLETS https://bankless.cc/Ledger 

⚡️FUEL | THE MODULAR EXECUTION LAYER https://bankless.cc/Fuelpod 

----- Topics Covered

0:00 Intro 6:45 Dan's Predictive Track Record 9:52 Roll-Apps 14:00 The App Chain Prediction 17:46 UNIChain 23:30 MEV 29:22 Summarizing the Costs 33:50 Who Gets the Money? 36:07 Are the Taxes Worth the Services? 43:48 Why DeFi Apps Haven't Launched App Chains Yet 48:40 Uniswap Nation State 55:33 Uniswap's App Chain Model Sovereignty 1:00:04 Uniswap's Control & Ethereum's Alignment 1:03:38 Uniswap's Composability 1:08:56 What Does This Mean For L1s 1:16:50 Investing in the Apps? 1:20:57 Aggregation Theory 1:23:22 Censorship 1:27:21 Final Takes 1:29:37 Closing & Disclaimers

------ Resources:

Dan Elitzer https://twitter.com/delitzer 

The inevitably of Unichain https://medium.com/nascent-xyz/the-inevitability-of-unichain-bc600c92c5c4 

Aggregation Theory - Stratechery https://stratechery.com/aggregation-theory/ 

----- 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