ROLLUP: Jito Airdrop | Cosmos Blocksize Wars | Kyber Hack | Paradigm's Blast

The Solana community is getting an airdrop and it looks to be absolutely massive. Jito is launching a governance token. It's called GTO. David, can you give us a recap of what uh Gito even is? For folks that are unfamiliar.

Banglastation, it's time for your Friday weekly roll up. David, what are we talking about this week?

All of the news across all of the chains. Ryan, it's non-ethereum airdrop week this week. Solana is getting a token, perhaps one of its biggest. Cosmos, Adam, getting a new token as well. What else is going on?

We got Kyber. They got hacked. This is one of DeFi's oldest protocols. So it's not good news, David. But you know the craziest thing? I don't know. Did you read the message from the Kyber hacker? It is unhedged. It is completely unhinged. So we gotta talk about that. What else?

Some chains are getting some upgrades. Lots of more TPS coming into the fold. Say a layer one is getting an upgrade. Uh a move layer two is coming to Ethereum, a new flavor of layer two on Ethereum. And also, a large Ethereum validator is starting to play shenanigans with the blockchain.

Uh oh.

I'll tell you this story. I think it's pretty cool.

And speaking of shenanigans, we gotta give them an update on CZ. What's he doing this week? Is he still in the US? Is he somewhere else? And uh while we're talking about locations, where in the world is Richard Hart? That's what the SEC really wants to know right now. And if you're listening to this, wherever you're listening, make sure you give us a review, a like if you rate it, a subscribe if you're checking this out on YouTube. David, you know uh Spotify Wrapped.

One of the best seasons to be a podcaster, I would say, is when you get all the appreciation.

Well I I saw somebody, I think the the biggest Spotify wrapped um bankless listener moment like minutes was uh something like fourteen thousand minutes.

14,000 minutes. Yeah. So if you are on listening to this on Spotify and you have more than 14,000 minutes on listening to Banklist, tweet at us. We will send you some swag. We'll send you something.

David, I uh I did the numbers on that. Uh fourteen thousand divided by sixty is something like two hundred and thirty three. Yeah, two hundred and thirty three hours.

233 hours.

That's

Is that crazy or what? Have we done that many

10 days? I think that's how math works.

Wow.

I'm sorry.

but also uh also thank you. I'm humbled and honored to have so many people listen to this uh podcast. We do it for you.

Good for you.

We do it for you guys. We do it for you guys. Okay. Uh David, speaking of things that we do for people, David, let's talk about prices. You ready for this?

Yeah, so like the prices have just up, up, up, up, up all like month. Uh we when you measure it for the last seven days, it's actually just flat, but that's like a you know measurement error. Bitcoin's up one percent on the week, 37,300 where it started, 37,700 is where we're ending. Ether price also relatively fat. Flat flat 2030 to start work. Yeah, 2030 to end, pretty flat in the week. And then the ETH B T C ratio also pretty flat on the week. Uh and also no major big movers of the week. I mean, like IOTA had a big pump, but honestly, who cares? Uh

What do you think of December? Do you think December's gonna be good to us? You think I I I remember some December's in crypto have been very bleak and it felt like coal in my stockings. Um December 2019 may have been this. Um however, December 2020

was

was not bleak.

huge.

It was very happy.

That that was the month in which we had like six months of why do you need ETH? You just buy Bitcoin and DeFi tokens after like DeFi summer. That and that was the month I remember we were talking about this actually and it and we you we were talking about this take on the weekly roll up and you're like, What what do you think about that take? And I'm like, well, it really just takes one strong week of price movement in ETH or

You're saying we were talking about this in 2020?

Yeah.

You remember an episode from 2020?

Yeah, exactly. Yeah, because I 'cause I

God, that that feels like decades ago.

Yeah, right. So like you we were talking about that thesis, and the like, what do you think about the thesis? About like the barbell of nope, no ether, just Bitcoin and DeFi tokens. And I was like, Yeah, sure, that's like the narrative that's in vogue in the moment, because that's what the price action has been. But all that really is that could just be very quickly invalidated by a massive Etherun. Yeah. And then literally the next week, Ether broke out of its like three year bear market range and broke through to four hundred and twenty five dollars, which hadn't broke through in in forever. And then it ran to like seven hundred dollars, and the narrative just completely flipped. And then it was

Wait, was that 2020 or did that happen in 2019?

No, that's 2020. That's 2020. That was December of 2020. Because by the January of 2021, Ether had broken like it's by is like $1,100 in the first week. I remember this very, very well. It was like $1,100 in the first week, and we were on our way to $2,000. And like the whole barbell idea looked super cringe in hindsight. And it was when and it was when ultrasound money really became a huge thing.

Yeah. Yeah. Good times, David Cole.

In time.

We'll see if Santa Claus is coming to town this month. I think we've got a fantastic setup. Well, finish this out. Tell us, what's the cryptocurrency market cap?

Do you want to give us some uh perspective on

All of this. So when you say stuff like $1.5 trillion, right? That sounds like a very large number, but here's a a tweet giving some context on the size of the entire crypto industry relative to uh another asset that probably many of us know. What's this tweet?

Yeah, so this is a tweet from a chameleonaire who works at uh serotonin, a dear friend of mine. She tweets out Daily Reminder that the entire crypto industry is still a small boy by market cap. At our peak in autumn of 2021, at the peak of the bull market of last cycle, we were equivalent. The whole industry was equivalent to the market cap of Apple. Not a small company, but it's insane to think that like an industry about crypto networks that's disrupting money and finance itself is equivalent to an equity.

We're still small. It's still

You remember you remember when you asked me what my uh prediction was for the cycle for um the market gap? I'm I'm still gonna stick with it. Uh do you remember what I said?

uh

12 trillion on the low side, 12 to 15 trillion was my number.

Yeah, okay, so we got a ten X in market cap ahead of us.

What's your number?

Ooh gosh.

You can't I'm going with date.

10?

Your gas, I'm breaks, but gas is under.

I predict. Cycles are always smaller. Yeah, and we have higher interest rates now.

Alright, you might be right. Are you counting though? Are you counting like stable coins, real world assets? Yeah,

I'm counting

treasure.

number that is reported by CoinGecko in the banner that it reports it in.

Alright. Fair enough. Uh, we will see. Uh, either way, pretty bullish. And uh speaking of bulls, can you get any more bullish on a particular asset than Michael Freaking Sailor, who just put in another acquisition of a cool 16,000 Bitcoin? If you're curious, I could do the math for you. That's about six hundred million dollars worth of Bitcoin.

This tweet.

Well, I'm doing the math for them. I didn't say I was doing the math myself. Uh at an average price of thirty six thousand per Bitcoin. So there he is. He's just continuing with that dollar cost averaging in strategy. But these numbers are huge, David. Huge.