Is This Cycle Cooked?
Published on May 6, 2024
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NEED TO KNOW
Robinhood Next?
  1. 🪶 Robinhood hit with Wells Notice. The stock and crypto-trading app is likely the next crypto exchange facing the ire of the SEC and its anti-crypto agenda after receiving the notice of potential future enforcement action.
  2. 🤔 Coinbase hit with lawsuit. Brian Armstrong and Coinbase are facing a class action suit from investors who say that they suffered losses as the result of being sold illegal securities in the form of SOL, MATIC, and other tokens.
  3. 🌊 Justin Sun apes into Swell. With a 120k ETH deposit into the Swell L2, the billionaire Tron founder’s now massive 40%+ position is raising eyebrows ahead of the project’s planned airdrop.
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TODAY IN MARKETS
Grayscale Turns it Around

📊 GBTC Goes Big. The Grayscale Bitcoin Trust (GBTC) experienced its first net inflow since converting to a spot ETF! Did we just enter a more bullish paradigm, or is there an alternative explanation for this unexpected inflow?

Prices as of 6pm ET 24hr 7d
Crypto $2.35T ↘ 0.3% ↗ 0.4%
BTC $63,465 ↘ 0.5% ↗ 0.5%
ETH $3,082 ↘ 1.5% ↘ 3.1%
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OPINION
Why This Cycle Is Cooked
Bankless Author: David Hoffman

Is this cycle already over? A confluence of factors has led to structural problems with the vibes in crypto: an overabundance of VC capital, a lack of new entrants, and an overbearing regulator.

Why are the factors causing these problems, and who are the ones losing out because of them?

Read the article!👇


FRIEND & SPONSOR: KRAKEN

Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.

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LATEST POD
VCs vs. Retail Investors

Are crypto VCs and retail investors sworn enemies in this cycle?

Today we explore the frontier of Venture Capitalists vs Retail Investors, are they at war? That’s exactly what we debate on the show with crypto writer and VC Regan Bozman.

Bankless Citizens get an exclusive Debrief of the episode 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you.

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