# L2 Warning Shots

*Author: Bankless*
*Published: Oct 2, 2024*
*Source: https://www.bankless.com/fr/l2-warning-shots*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/Group-651-1-1.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=op-ed-l2s-deserve-warning-shots-fired-in-bankless-episode&email=true)

  
L2 Warning Shots
    
  

  
  Published on Oct 2, 2024

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Election Betting is Legal
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/Group-14---2024-10-02T165945.380.png)](https://www.bankless.com/dashboard)- 🗳️ **Election Betting Contracts Are Legal as Kalshi Wins CFTC Court Battle. **The federal judge [denied](https://www.bankless.com/kalshi-wins-cftc) the CFTC's appeal.
- **🤑 Bitwise Files for Spot XRP ETF Amid Ripple Court Tension. **The filing [comes](https://www.bankless.com/xrp-etf-news) as the SEC announces its appeal in the Ripple case.
- 🐙 **Kraken Delists Monero in Europe Over Regulatory Pressure. **XMR trading and deposits will halt [at the end of the month](https://www.bankless.com/kraken-delists-monero-in-europe-over-regulatory-pressure).

.  .  .

 
  
    
      
      GO BANKLESS
    
    
  
  
    
    Upgrade Your Experience

    
  
 

*Get the full Bankless premium experience – featuring exclusive content, ad-free podcasts, access to Token Hub, and more!*

[Become a Citizen](https://www.bankless.com/join)

.  .  .

 
  
    

    MARKET VIBES

  
  

Topsy Turvy
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **Another middling day for crypto prices took ETH prices down 8% on the week. Not everything is flailing, though, as memecoins pump. and FTX's FTT token is up a whopping 46% as degen traders bet on a moonshot reorganization plan-led resurgence.

Prices as of 6pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.11T
       

  
    
    ↘ 1.1%
    
  

   
    
    ↘ 5.4%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $60,876
       

  
    
    ↘ 0.4%
    
  

   
    
    ↘ 4.2%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,381
       

  
    
    ↘ 3.6%
    
  

   
    
    ↘ 7.8%
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/29587.png)
    

  **W**
   
          $0.339
       

  
    
    ↗ 8.1%
    
  

   
    
    ↗ 31.7%

    
  

  

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🪱**New Token Rating: Wormhole’s W** token has been down-only since it launched in early April into peak market froth. Can HODLers finally rest easy on their “Ws” after a solid month of gains?[Unlock W on Token Hub](https://www.bankless.com/tools/token-hub/wormhole)

.  .  .

 
  
    

OPINION

  
  
    
StarkWare CEO: L2s Deserve Warning Shots

  
  
   
     
     Guest Author: 
     
       [
       
      Eli Ben-Sasson](https://x.com/elibensasson)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/image---2024-10-02T170432.725.png)](https://www.bankless.com/op-ed-l2s-deserve-warning-shots-fired-in-bankless-episode)**Blockchain tribalism often makes us deaf to our critics.** We ignore them at our peril.

*Despite making me squirm at points*, I listened carefully to Ethereum researcher Max Resnick’s [much-discussed Bankless interview](https://www.youtube.com/watch?v=FLUJ0uLye0U) in which he lambasted Ethereum Layer 2s (L2s) as “parasitic.” Resnick's argument is that L2s are becoming a cozy cottage industry that sucks value away from Ethereum, the Layer 1 blockchain. 

*Here's where he's wrong *👇

[Read More on Bankless.com](https://www.bankless.com/op-ed-l2s-deserve-warning-shots-fired-in-bankless-episode)
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